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Irish 2.0
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9:29a, 5/20/21
Took a little RL 6/18 125C off the 100DMA at 188.8
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FJ43
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In reply to J.P. 03 • 9:31a, 5/20/21
J.P. 03 said:
FJ43 said:

SPY Scalping

My starting plan....

My range I have today is between 406.24 and 413.40/413.82. Levels in between those.
Don't think we get past that 413.80ish level and hope we defend 406. Rejection at 413.80ish and I load ATM puts.

Anything move below 405.33 intraday and I pretty much will move bets to normal sized puts focus plays and 1/2 sized calls intraday.
Did you end up buying puts on the bounce off 413.68? I'm tempted to as soon as my self-imposed "don't buy SPY options before 9:30" rule expires, but VIX is still creeping downward and I don't have a clear feel for where we're headed today yet.
Sitting on them now. Will cut if we clip 413.82 with 2 2-minute candles. VIX still above 20 but not rising...yet.
412P - $1.22 entry
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McInnis 03
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9:31a, 5/20/21
AG
Wonder if TDA is going to approve me for futures with my money? Rode NQ for 120+ pts this morning and am still running ES on a 40+ pt ride currently. Submitted the application 2 days ago.
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$30,000 Millionaire
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In reply to McInnis 03 • 9:34a, 5/20/21
AG
McInnis 03 said:
Wonder if TDA is going to approve me for futures with my money? Rode NQ for 120+ pts this morning and am still running ES on a 40+ pt ride currently. Submitted the application 2 days ago.
Tasty will approve.
You don’t trade for money, you trade for freedom.
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FJ43
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9:41a, 5/20/21

SPY 413.40 holding well so far.
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Brewmaster
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In reply to Brewmaster • 9:42a, 5/20/21
AG
BREwmaster said:
NRD09 said:
$MARA!!!
Sell some premium this morning or is she ready for a real run?
probably flip premium one more time, but could run soon. There's a gap now to yesterday's close. It fills back to there 21.70 ish, then runs. Of course we need bitcoin to keep trending up too.

correction... it ran pre-market, so not a true gap up, but it is trading in a channel with a wide range over the last week. 19 or so being the bottom and 23.80 being the top of the channel (peaked outside it this morning at 24).

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McInnis 03
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In reply to $30,000 Millionaire • 9:46a, 5/20/21
AG
$30,000 Millionaire said:
McInnis 03 said:
Wonder if TDA is going to approve me for futures with my money? Rode NQ for 120+ pts this morning and am still running ES on a 40+ pt ride currently. Submitted the application 2 days ago.
Tasty will approve.
If they look at my paper trades this week alone, the futures commissions are $1000+, if they don't approve they're crazy.

They need to match Tasty's commissions if I go live too......
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Brewmaster
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In reply to Brewmaster • 9:57a, 5/20/21
AG
BREwmaster said:
BREwmaster said:
NRD09 said:
$MARA!!!
Sell some premium this morning or is she ready for a real run?
probably flip premium one more time, but could run soon. There's a gap now to yesterday's close. It fills back to there 21.70 ish, then runs. Of course we need bitcoin to keep trending up too.

correction... it ran pre-market, so not a true gap up, but it is trading in a channel with a wide range over the last week. 19 or so being the bottom and 23.80 being the top of the channel (peaked outside it this morning at 24).

went with a degenerate (tomorrow expiration) put spread - 21/20P. Cost .15, max profit is.85, but even at $20 tomorrow it's a 300% return (before expiration). $20 or below by expiration tomorrow and it's 600%. Whoop!
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Brian Earl Spilner
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10:32a, 5/20/21
AG
Finally seeing some nice payoff from buying so much in the ROKU dip.
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Irish 2.0
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10:33a, 5/20/21
Keep an eye on DKNG. $45.60 can really open it back up
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BrokeAssAggie
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In reply to BrokeAssAggie • 10:33a, 5/20/21
CrazyRichAggie said:
Gotcha. My plan was to just hope SPY has a nice little run in the morning and sell my calls for ~50% loss vs a ~85% loss.
Only down 40% now. Keep running!

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Ragoo
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In reply to BrokeAssAggie • 10:40a, 5/20/21
AG
CrazyRichAggie said:
CrazyRichAggie said:
Gotcha. My plan was to just hope SPY has a nice little run in the morning and sell my calls for ~50% loss vs a ~85% loss.
Only down 40% now. Keep running!

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ClutchCityAg
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10:41a, 5/20/21
What gives with CCL? whole market going up and calls down and not moving
Let it ride
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BrokeAssAggie
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In reply to Ragoo • 10:41a, 5/20/21
33% now..
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McInnis 03
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10:42a, 5/20/21
AG
ADT.....

Thoughts?

This looks like it has a ton of potential. Above ALL supply, extra squeezed up (purple on my indicator)........
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FJ43
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10:48a, 5/20/21

DBX trying again.....
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BrokeAssAggie
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In reply to BrokeAssAggie • 10:55a, 5/20/21
CrazyRichAggie said:
33% now..
stopped out at $1.55. I will consider that a "win".
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FJ43
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10:57a, 5/20/21

Solid move today so far. Now let's hold it and rip tomorrow to close the week.
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irish pete ag06
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10:58a, 5/20/21
AG
Stupid question, and I realize the answer is probably is not clearly one way...


When rolling options, is it better to roll them when they've fallen off a cliff or when they are up?

Looking at VEON particularly today.
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Mr President Elect
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In reply to irish pete ag06 • 11:03a, 5/20/21
AG
Pretty sure it is best to roll them when they are up. The recent price action has more direct impact on the shorter expiration options. I'm assuming by rolling you mean by date and not strike price for the same dates. Also assuming you are meaning going long vs going short.
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FTAG 2000
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11:03a, 5/20/21
AG
Looks lke small caps are moving.


Going along for a ride on CLWT right now, up 25% today. Cannot find news but not complaining!
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irish pete ag06
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In reply to Mr President Elect • 11:06a, 5/20/21
AG
Mr President Elect said:
Pretty sure it is best to roll them when they are up. The recent price action has more direct impact on the shorter expiration options. I'm assuming by rolling you mean by date and not strike price for the same dates.
Yes. Looking at rolling my JUNs out to JULY or SEP
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$30,000 Millionaire
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In reply to BrokeAssAggie • 11:06a, 5/20/21
AG
CrazyRichAggie said:
CrazyRichAggie said:
33% now..
stopped out at $1.55. I will consider that a "win".
solid job, you sold on strength!
You don’t trade for money, you trade for freedom.
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ClutchCityAg
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11:09a, 5/20/21
Ouch, just announced Biden IRS will target crypto





Let it ride
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Ccutamu
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In reply to ClutchCityAg • 11:11a, 5/20/21
ClutchCityAg said:
Ouch, just announced Biden IRS will target crypto





And down goes MARA!
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Brewmaster
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In reply to Brewmaster • 11:15a, 5/20/21
AG
BREwmaster said:
BREwmaster said:
BREwmaster said:
NRD09 said:
$MARA!!!
Sell some premium this morning or is she ready for a real run?


correction... it ran pre-market, so not a true gap up, but it is trading in a channel with a wide range over the last week. 19 or so being the bottom and 23.80 being the top of the channel (peaked outside it this morning at 24).

went with a degenerate (tomorrow expiration) put spread - 21/20P. Cost .15, max profit is.85, but even at $20 tomorrow it's a 300% return (before expiration). $20 or below by expiration tomorrow and it's 600%. Whoop!
these are working like a champ, up over 50%. MARA now below yesterday's close. Bitcoin looking weak here too.
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ProgN
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In reply to Ccutamu • 11:17a, 5/20/21
Democrats **** up everything.
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Ccutamu
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In reply to ProgN • 11:19a, 5/20/21
Prognightmare said:
Democrats **** up everything.
That is my understanding of it.
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BrokeAssAggie
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In reply to ProgN • 11:19a, 5/20/21
Prognightmare said:
Democrats **** up everything.
Hey, but Joe just signed the COVID 19 Hate Crimes Act!
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FTAG 2000
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In reply to ClutchCityAg • 11:19a, 5/20/21
AG
ClutchCityAg said:
Ouch, just announced Biden IRS will target crypto






Sure seems to be a coordinated effort on crypto this week - Musk, China, now the Treasury Dept.

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Brewmaster
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In reply to Ccutamu • 11:23a, 5/20/21
AG
Ccutamu said:
ClutchCityAg said:
Ouch, just announced Biden IRS will target crypto

And down goes MARA!
from a technical standpoint it was headed back down regardless, this just speeds it up a little. Under 20.60 though is a buy and around 19.40 (as long as that holds) Big Buy!
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Mr President Elect
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In reply to irish pete ag06 • 11:23a, 5/20/21
AG
What are you in on, the $2 c's? They aren't very liquid at the moment, also if / when you do roll, maybe look at dec as well, not much more premium for the extra time. July would probably be hard to roll to at the moment due to volume.
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Irish 2.0
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In reply to ClutchCityAg • 11:24a, 5/20/21
ClutchCityAg said:
Ouch, just announced Biden IRS will target crypto





Not that I'm a fan of the IRS, but they aren't wrong when they say crypto is ripe with opportunity for tax evasion and money laundering
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Charlie Conway
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In reply to Irish 2.0 • 11:26a, 5/20/21
Irish 2.0 said:
ClutchCityAg said:
Ouch, just announced Biden IRS will target crypto





Not that I'm a fan of the IRS, but they aren't wrong when they say crypto is ripe with opportunity for tax evasion and money laundering
Yeah, those kinds of benefits should be reserved for politicians and societal elites, not some slapdick that bought $1000 of dogecoin 2 years ago.
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Diggity
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11:29a, 5/20/21
AG
If crypto can't stand up to that kind of scrutiny...that's a problem.

this should all be expected as a technology matures.
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