My macro indicators flipped red in a huge move. Corrections don't normally start like this, but nothing about the market this year is normal. I'd typically be looking for this to be the start of a big correction but the speed and severity of this drop off ATH with no lead-in has me cautious on continuance short.

Intraday the best analogies I have are all dumps after rips off the bottom in 2009, 2011, 2018, and 2020. So this coming day after ATH....not sure it has a precedent.

$30,000 Millionaire said:

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my chief regret today was selling SPY puts when we were down 2.75%. What was I thinking?

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right there with you!!!!!!!!!!!!!!!!! then i bought 358 calls as i thought a reversal was coming. got fooled

back in the mouse!

Keep in mind there are some massive and small gaps all over various companies from the previous weeks/earnings
FB has one for example
SPY has some smaller ones we may be heading down to fill before flat lining to election

McInnis 03 said:

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NRD09 said:

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McInnis 03 said:

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DOCU reports at the bell today and they've taken a 13% hit today................ DON'T DO IT MC

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235/240 call debit spread for 1.4? 230/235 for 1.93? Something fancier? They're gonna kill it right? As long as tomorrow isn't a bloodbath it's gotta hold 235...should be an easy double?

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You're thinking like me, but my gut says "What's easy, never is"

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today basically robbed it of it's run up. I'm gonna do it

edit: got the 230/235s for 2.30

Bretton Gekko said:

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My macro indicators flipped red in a huge move. Corrections don't normally start like this, but nothing about the market this year is normal. I'd typically be looking for this to be the start of a big correction but the speed and severity of this drop off ATH with no lead-in has me cautious on continuance short.

Intraday the best analogies I have are all dumps after rips off the bottom in 2009, 2011, 2018, and 2020. So this coming day after ATH....not sure it has a precedent.

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Ok, so for us laypeople what does this mean? You think this is a blip rather than an event or lead up to a major event?

How about the 9/18 TER? That one has alot more ground to make up after today. Seems like maybe rolling down to a lower strike price may be worth it?

oldarmy1 said:

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UpstateAg said:

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Are you out of Disney 9/11?

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I had sold some this morning and was lucky. I bought them all back.

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What are you using as your stop loss?

MARA - looking at past 10 day trends the accumulation has been steadily rising, even today (although slightly), while the share price has reduced approximately 20%. Wouldn't this confirm support near/mid term for MARA? Appears to be in an oversold position relative to price/accumulation.

Learning from all you guys so any clarification would be appreciated if I am reading this incorrectly.

How much of the market drop today is based in the CDC's mandate of no evictions legally being allowed through the end of this year?
It was green lit by the Trump Admin.

This has the ability to decimate multi family housing in urban areas.

VIX nhod

that was known at the beginning of the week. Not sure why it would blow things up today.

if spy's still playing tug of war with 345 at 2:20 I'm trying to decide whether to go big on 350 calls expiring tomorrow, or 350 calls and 340 puts. Feels like there's gonna be a big move either last 30 minutes or at open tomorrow

My plan is to straddle 345 if it hangs here today

NRD09 said:

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if spy's still playing tug of war with 345 at 2:20 I'm trying to decide whether to go big on 350 calls expiring tomorrow, or 350 calls and 340 puts. Feels like there's gonna be a big move either last 30 minutes or at open tomorrow

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thinking the same re 350c

NRD09 said:

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McInnis 03 said:

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NRD09 said:

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McInnis 03 said:

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DOCU reports at the bell today and they've taken a 13% hit today................ DON'T DO IT MC

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235/240 call debit spread for 1.4? 230/235 for 1.93? Something fancier? They're gonna kill it right? As long as tomorrow isn't a bloodbath it's gotta hold 235...should be an easy double?

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You're thinking like me, but my gut says "What's easy, never is"

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today basically robbed it of it's run up. I'm gonna do it

edit: got the 230/235s for 2.30

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I liked the idea but decided to go with a BWB 230/240/245. If she comes in tomorrow at 240 it's a triple, if it fly's away you still make 10% profit.

How does today compare to June 10? It wasn't until June 28 the consolidation period ended

ready to ride a Friday straddle into the weekend

35.11 and counting..

If we close at session lows, foreign markets will be down and we should open down tomorrow, and you have a 3 day weekend. I'm in 95% cash and won't fret over the holiday.

I had VXX call spreads 26.5/31c open this morning that I figured were just a nice protection......they're completely ITM.

If Qs don't hold the ~282.2 level, It can see ~268.5 before it gets a solid base. Tread carefully right now. I'd rather be buying into strength than selling into weakness and getting spread out trying to dump *****

The pullback in June took 3 days, so don't buy back in heavy here. This could drag on through tomorrow and even Monday. Tuesday! lol...good catch.

June was a roughly 7% pullback from that high. That would put us at about 334 from the previous high, 10% pullback would be 324. I'm long a bunch of spy puts and vxx calls, but didn't get in them quick enough.

No buyers have stepped up yet (and might not with a 3 day weekend coming). Volatility is still a cheap-ish hedge here, but I'm sure spy puts are through the roof. With VXX I'd go out of the money like 33C or 34.

CreakinDeacon said:

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Gap and crap tomorrow. Every index I'm looking at says that this sell isn't over. This was needed for the market though. If you're holding calls, manage your risk and don't ride them to zero.

Margin calls are going to give a f***ening

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think we gap up and then continue the sell off?

Buying SPY 9/4 $340P and $350C.

sounds like he is saying gap down.