I have been doing this with decent success lately as well. It helps on days with no good setups to get into on individual stocks. Sometimes just have that urge to trade something.Mostly Foggy Recollection said:
I love grudge trading, especially on weeklies.
I take mine out on SPY weeklies recently. Focus on the zones and swing/scalping depending on setup.
If you're disciplined, one can make a few grand a day scalping SPY. I've been in the 3-5k range per day, but I fat fingered what was supposed to be a 10K buy while on the phone yesterday and didn't pay attention to the submittal. It ended up working out quite nicely.
FJ43 started giving it a try this week, and I'm pretty sure he's doing about the same results after the first couple of days.
oldarmy1 said:
VEON looks ready to break out. Check those tight bands after a long period of what looked like tight bands. Well now they are really pressing on each other.
AGSmith said:
You mean the $2 call? I don't see a 2.5 listed anywhere
I'm all earsMostly Foggy Recollection said:
I love grudge trading, especially on weeklies.
I take mine out on SPY weeklies recently. Focus on the zones and swing/scalping depending on setup.
If you're disciplined, one can make a few grand a day scalping SPY. I've been in the 3-5k range per day, but I fat fingered what was supposed to be a 10K buy while on the phone yesterday and didn't pay attention to the submittal. It ended up working out quite nicely.
FJ43 started giving it a try this week, and I'm pretty sure he's doing about the same results after the first couple of days.
I guess you all went calls on the reversal (after dip) from the open? curious what levels you like to use, fib or just watch minute chart for resistance/ support?
Mostly Foggy Recollection said:
I love grudge trading, especially on weeklies.
I take mine out on SPY weeklies recently. Focus on the zones and swing/scalping depending on setup.
If you're disciplined, one can make a few grand a day scalping SPY. I've been in the 3-5k range per day, but I fat fingered what was supposed to be a 10K buy while on the phone yesterday and didn't pay attention to the submittal. It ended up working out quite nicely.
FJ43 started giving it a try this week, and I'm pretty sure he's doing about the same results after the first couple of days.
McInnis sorry but a little long here. Msg me if I can help clarify what I will surely miss.Mostly Foggy Recollection said:
Timing more than anything. FJ43 can vouch, but I'm setting my sell as I'm placing my buy. For the scalps, it's based on the 1 minute at key support/resistance levels. I'm typically doing ATM strikes as well.
For swings, I'm playing zones.
Yeah, I'm probably leaving money on the table every day, but it also is a higher hit rate than my swings, and certainly my other options plays.
I think I had 4 losing trades this week on SPY. The success rate ~90%
Mostly Foggy Recollection said:
Timing more than anything. FJ43 can vouch, but I'm setting my sell as I'm placing my buy. For the scalps, it's based on the 1 minute at key support/resistance levels. I'm typically doing ATM strikes as well.
For swings, I'm playing zones.
Yeah, I'm probably leaving money on the table every day, but it also is a higher hit rate than my swings, and certainly my other options plays.
I think I had 4 losing trades this week on SPY. The success rate ~90%
FJ43 said:McInnis sorry but a little long here. Msg me if I can help clarify what I will surely miss.Mostly Foggy Recollection said:
Timing more than anything. FJ43 can vouch, but I'm setting my sell as I'm placing my buy. For the scalps, it's based on the 1 minute at key support/resistance levels. I'm typically doing ATM strikes as well.
For swings, I'm playing zones.
Yeah, I'm probably leaving money on the table every day, but it also is a higher hit rate than my swings, and certainly my other options plays.
I think I had 4 losing trades this week on SPY. The success rate ~90%
This is addicting, fun and profitable. Doesn't hurt it passes the time from watching things not move.
My approach all week has been similar. I set up a single monitor (via Mosaic Panel) where I have 3 charts. 1 Min 5 Minute. and 10 Minute. The 10 Min is linked to the option chain so when I click the option I am buying the chart displays the options price candles/action for the time span matching my predetermined support/resistance levels. The 1 & 5 charts stay constant. I buy, generally not more 2 OTM but mostly ATM, then set my sell immediately based on the next support or resistance level matched to the option price at that level. Helps to have those two charts side by side to see the exact levels/times of day. I usually pick a few cents lower than option was at the next resistance/support level.
I have also then set some alerts in the wrong direction just in case so I can go about other things. However this usually happens relatively quickly. Days like today with narrow channels it happened faster. But easily managed when focused on one single thing. Buying/Selling calls and puts on the same thing back and forth.
The other items on the screen are an Order Entry Panel window, Option Chain window Live Orders window and Portfolio Overview window. I never have to click away if I don't want to to fully trade this system.
oldarmy1 said:
I sold 20% of AAPL shares at $122.60 but near close entered March 26th $121 naked puts that same number of shares for $2.86. If AAPL continues upward that makes $2860/10 naked puts. If AAPL is under $121 I am back in the shares net $118.14
Well I'm using a few less zeros but I did do a few on Qs just the same. Knock a few zeros off and that would be my print.kyledr04 said:FJ43 said:McInnis sorry but a little long here. Msg me if I can help clarify what I will surely miss.Mostly Foggy Recollection said:
Timing more than anything. FJ43 can vouch, but I'm setting my sell as I'm placing my buy. For the scalps, it's based on the 1 minute at key support/resistance levels. I'm typically doing ATM strikes as well.
For swings, I'm playing zones.
Yeah, I'm probably leaving money on the table every day, but it also is a higher hit rate than my swings, and certainly my other options plays.
I think I had 4 losing trades this week on SPY. The success rate ~90%
This is addicting, fun and profitable. Doesn't hurt it passes the time from watching things not move.
My approach all week has been similar. I set up a single monitor (via Mosaic Panel) where I have 3 charts. 1 Min 5 Minute. and 10 Minute. The 10 Min is linked to the option chain so when I click the option I am buying the chart displays the options price candles/action for the time span matching my predetermined support/resistance levels. The 1 & 5 charts stay constant. I buy, generally not more 2 OTM but mostly ATM, then set my sell immediately based on the next support or resistance level matched to the option price at that level. Helps to have those two charts side by side to see the exact levels/times of day. I usually pick a few cents lower than option was at the next resistance/support level.
I have also then set some alerts in the wrong direction just in case so I can go about other things. However this usually happens relatively quickly. Days like today with narrow channels it happened faster. But easily managed when focused on one single thing. Buying/Selling calls and puts on the same thing back and forth.
The other items on the screen are an Order Entry Panel window, Option Chain window Live Orders window and Portfolio Overview window. I never have to click away if I don't want to to fully trade this system.
Someone was doing the same thing today on QQQ. Bought 6000 weekly 315s about 930am and sold about 1130 when the run stopped. The options were up 200%. They made over a million in 2 hours. Looked like a little goal post .
FJ43 said:Well I'm using a few less zeros but I did do a few on Qs just the same. Knock a few zeros off and that would be my print.kyledr04 said:FJ43 said:McInnis sorry but a little long here. Msg me if I can help clarify what I will surely miss.Mostly Foggy Recollection said:
Timing more than anything. FJ43 can vouch, but I'm setting my sell as I'm placing my buy. For the scalps, it's based on the 1 minute at key support/resistance levels. I'm typically doing ATM strikes as well.
For swings, I'm playing zones.
Yeah, I'm probably leaving money on the table every day, but it also is a higher hit rate than my swings, and certainly my other options plays.
I think I had 4 losing trades this week on SPY. The success rate ~90%
This is addicting, fun and profitable. Doesn't hurt it passes the time from watching things not move.
My approach all week has been similar. I set up a single monitor (via Mosaic Panel) where I have 3 charts. 1 Min 5 Minute. and 10 Minute. The 10 Min is linked to the option chain so when I click the option I am buying the chart displays the options price candles/action for the time span matching my predetermined support/resistance levels. The 1 & 5 charts stay constant. I buy, generally not more 2 OTM but mostly ATM, then set my sell immediately based on the next support or resistance level matched to the option price at that level. Helps to have those two charts side by side to see the exact levels/times of day. I usually pick a few cents lower than option was at the next resistance/support level.
I have also then set some alerts in the wrong direction just in case so I can go about other things. However this usually happens relatively quickly. Days like today with narrow channels it happened faster. But easily managed when focused on one single thing. Buying/Selling calls and puts on the same thing back and forth.
The other items on the screen are an Order Entry Panel window, Option Chain window Live Orders window and Portfolio Overview window. I never have to click away if I don't want to to fully trade this system.
Someone was doing the same thing today on QQQ. Bought 6000 weekly 315s about 930am and sold about 1130 when the run stopped. The options were up 200%. They made over a million in 2 hours. Looked like a little goal post .
