All done. +5.x% week. Needed one of these.
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Last: 9 hrs ago by Quacked
Saw this, and it's making me think I may have too much in AMZN and APPL. How concerned about this should we be?
I just remember all the angst over SQ when it was under $50. Good times.StrawberryFields said:
So would this be a good place to take a position in $SQ? Would that be considered enough of a break of a downtrend to jump in?
slacker00 said:
Agreed. Asked my SO about this and she said the drug should not have been approved at all. The advisory board advised against approval and the FDA approved it anyway. The first Phase III was a complete failure. This sets the bar for approval very low for the other companies working on the same indication.
Did you see that committee members are quitting bc it got approved against their advice? My understanding is that doesn't happen
I've continued to load ELOX shares leveraging the excellent premium valuation. How many shares will I buy will depend on how many covered calls get filled at the ask. To me this is about the best trade for super large positions due to being able to leverage calls that would leave you at or below where the largest institutions dropped millions. I had 50 more fill so just bought 50k more shares creating a fun spike.
I'll never claim to be as incredible an artist as McInnis ... but this looks like a can't-miss unicorn pattern to me
LOLOLibdm98 said:
I'll never claim to be as incredible an artist as McInnis ... but this looks like a can't-miss unicorn pattern to me
oldarmy1 said:
I've continued to load ELOX shares leveraging the excellent premium valuation. How many shares will I buy will depend on how many covered calls get filled at the ask. To me this is about the best trade for super large positions due to being able to leverage calls that would leave you at or below where the largest institutions dropped millions. I had 50 more fill so just bought 50k more shares creating a fun spike.
I see your spike.
$30,000 Millionaire said:yes, just have a tight stop loss. remember that SQ trades with the market.StrawberryFields said:
So would this be a good place to take a position in $SQ? Would that be considered enough of a break of a downtrend to jump in?
So it looks like a recent low was 209.80, is that a reasonable stop loss or is that too tight?
OA, thanks for validating my unicorn pattern with your post.oldarmy1 said:
I've continued to load ELOX shares leveraging the excellent premium valuation. How many shares will I buy will depend on how many covered calls get filled at the ask. To me this is about the best trade for super large positions due to being able to leverage calls that would leave you at or below where the largest institutions dropped millions. I had 50 more fill so just bought 50k more shares creating a fun spike.
I'm guessing you got filled on the 8/20 2.5Cs?
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Model t news recovery idea: lly 222.5/225 call spreads for next week for 1.25
oldarmy1 said:
I've continued to load ELOX shares leveraging the excellent premium valuation. How many shares will I buy will depend on how many covered calls get filled at the ask. To me this is about the best trade for super large positions due to being able to leverage calls that would leave you at or below where the largest institutions dropped millions. I had 50 more fill so just bought 50k more shares creating a fun spike.
So what's your plan for all those covered shares. I assume you bought August 2.5s or 5s. Hold those until then and see if they get called out. I've struggled to understand how that trade works out since a big spike might not last until then. I think we had they happen REI. Are you just ok holding those shares?
Has anyone spoken with Fidelity about letting risk defined butterflies expire? Ugh. They just closed me out of two trades that likely would have been bigger winner when theta ramps down here the last 15 minutes.
net free ma strategy question.....
I'm net free small positions on several of the plays from the last 9+ months. And since it seems like everyone hear and outside thinks we're due for a correction soon my question is what is your plan for these net free plays?
I know originally it was set it and forget it. But does that still apply if we get solid correction (15% or more)??
My thought would be to set some stops on those so when market drops it'll be fast and the stops will keep gains and preserve capital. Can then rebuy when lower
What do you guys think?
I'm net free small positions on several of the plays from the last 9+ months. And since it seems like everyone hear and outside thinks we're due for a correction soon my question is what is your plan for these net free plays?
I know originally it was set it and forget it. But does that still apply if we get solid correction (15% or more)??
My thought would be to set some stops on those so when market drops it'll be fast and the stops will keep gains and preserve capital. Can then rebuy when lower
What do you guys think?
What, if any, hedges are people taking into the weekend?
I bought 6/18 SPY 424P just now. 2.76 entry - Small its a trade not a full hedge.StrawberryFields said:
What, if any, hedges are people taking into the weekend?
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
SPX butterfly worked out great! 6.47 gain on a 1.00 entry. Wish I did more.
Yes, I saw that. Haven't asked her about it yet. We both work from home so I usually get her thoughts on different pharma companies when they take off. We have come to realize what makes a good trade is not the same as what makes a good company. Lots of the popular names that I see on the net making people money are terrible companies. Always funny when I tell her about some company that just went 10x or something, and she gets mad because their product is garbage.
Awesome trade!$30,000 Millionaire said:
SPX butterfly worked out great! 6.47 gain on a 1.00 entry. Wish I did more.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Added a bunch of positions into close....I'm going a bit risk on here. VIX got crushed this week and the start of OPEX week is usually bullish. Here is what I added:
ABNB 7/16 160C
QCOM 7/16 140C
DIS 7/16 180C
SNAP 7/16 70C
BIGC 7/16 65C
ENPH 7/16 165C
INTC 8/20 60C
shares:
ARRY
HIMX
RESN
TKAT
manage at own risk and comfort level
ABNB 7/16 160C
QCOM 7/16 140C
DIS 7/16 180C
SNAP 7/16 70C
BIGC 7/16 65C
ENPH 7/16 165C
INTC 8/20 60C
shares:
ARRY
HIMX
RESN
TKAT
manage at own risk and comfort level
Had a 605/610/615 tesla butterfly opened yesterday for 0.70 pin right near 610. Had a GTC limit order set to execute at $4.75. Fidelity closed me out at $2.20.
WHAT THE ****?
WHAT THE ****?
Really mad at myself. Monday I opened a $TTD 589/600/620 butterfly. It then shot way past me and I tried to manage it. Then it sold off hard so I took what I could. Then it pins right at 600. Lost money when it should have been 10k profit.
Not OA1, but I can guess what he's doing.kyledr04 said:oldarmy1 said:
I've continued to load ELOX shares leveraging the excellent premium valuation. How many shares will I buy will depend on how many covered calls get filled at the ask. To me this is about the best trade for super large positions due to being able to leverage calls that would leave you at or below where the largest institutions dropped millions. I had 50 more fill so just bought 50k more shares creating a fun spike.
So what's your plan for all those covered shares. I assume you bought August 2.5s or 5s. Hold those until then and see if they get called out. I've struggled to understand how that trade works out since a big spike might not last until then. I think we had they happen REI. Are you just ok holding those shares?
First, he's not buying calls, he's selling those calls, not sure if you made a typo there or what. By selling covered calls, he's reducing his cost basis on the shares he has. His reasoning for continuing to add is based on large institutional buying at a point lower than what his cost is for shares-premium. It's a pretty safe bet that it will be a profitable trade because the big boys probably won't let it drop to a point where they don't make money. He believes there's a move coming, so he's ok with holding the shares, and he'll just keep selling covered calls til it does.
Premiums above your share price will move slower than the share price so depending on where it explodes to I would look for disparity in values that pick up minimum $0.70 on $2.50 calls and $2.30 on $5 calls.kyledr04 said:oldarmy1 said:
I've continued to load ELOX shares leveraging the excellent premium valuation. How many shares will I buy will depend on how many covered calls get filled at the ask. To me this is about the best trade for super large positions due to being able to leverage calls that would leave you at or below where the largest institutions dropped millions. I had 50 more fill so just bought 50k more shares creating a fun spike.
So what's your plan for all those covered shares. I assume you bought August 2.5s or 5s. Hold those until then and see if they get called out. I've struggled to understand how that trade works out since a big spike might not last until then. I think we had they happen REI. Are you just ok holding those shares?
If it really explodes then I'd end up selling non-covered shares and leave the $5-$7.50 calls as profit locks into those expirations OR if decay makes them worth rolling or terminating them.
Gotcha. I typed buying earlier by mistake. I knew you were selling calls.
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StrawberryFields said:
What, if any, hedges are people taking into the weekend?
Bought a couple vxx 31 calls for next week for a buck.
Correct. The June calls is a good way to look at it. Those spiked to $0.50 when the stock was at $2.25. Prior to the spike the options had been trading at $0.25 several days as the share price was at $1.68 area.Maximus_Meridius said:Not OA1, but I can guess what he's doing.kyledr04 said:oldarmy1 said:
I've continued to load ELOX shares leveraging the excellent premium valuation. How many shares will I buy will depend on how many covered calls get filled at the ask. To me this is about the best trade for super large positions due to being able to leverage calls that would leave you at or below where the largest institutions dropped millions. I had 50 more fill so just bought 50k more shares creating a fun spike.
So what's your plan for all those covered shares. I assume you bought August 2.5s or 5s. Hold those until then and see if they get called out. I've struggled to understand how that trade works out since a big spike might not last until then. I think we had they happen REI. Are you just ok holding those shares?
First, he's not buying calls, he's selling those calls, not sure if you made a typo there or what. By selling covered calls, he's reducing his cost basis on the shares he has. His reasoning for continuing to add is based on large institutional buying at a point lower than what his cost is for shares-premium. It's a pretty safe bet that it will be a profitable trade because the big boys probably won't let it drop to a point where they don't make money. He believes there's a move coming, so he's ok with holding the shares, and he'll just keep selling covered calls til it does.
So let's say you entered covered calls on 1000 shares at $1.68. You get paid $250 for the covered calls. The stock shoots up to $2.25 and the options top out at $0.50. You are up $0.57/share on the stock price and the options is up $0.25. I could decide to buy the calls back and sell the stock for $0.32/share gain. I could have bought the calls back along the way once seeing the shares triggered a move and looked for a higher price to sell shares. I could sell the shares and hold the covered calls if spotting a resistance mark (It was $2.25 which was pre-identified as the level 1 marker) and then waited to see if shares dropped knowing every penny they drop increases the gain spread between option value and share price.
I've done all of the above depending on the stock.
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I really screwed up closing my aapl 127/128 spreads. 15 minutes to close i decided to just salvage what i could, sp was about 127.15 so i put the order at .15. Just as i executed i thought, "man maybe i should wait until 2:50 and see if we get a murder algo spike" before i could cancel and change it they filled then the price jumped 10c, then grabbed another couple cents into the close! Left $280 on the table when all was said and done (in a perfect world...but if i had just taken an extra second to think before executing I'd have made enough more to buy a nice bottle of Scotch going into the weekend) solid week regardless. Have a great weekend fellas
anyone have to sign a new agreement with fidelity for penny stocks? I mean WTF.
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$30,000 Millionaire said:
anyone have to sign a new agreement with fidelity for penny stocks? I mean WTF.
Yes I had to do it to buy more SYN ( a stock I already owned) yesterday. I was literally likebut why? I already own this
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What's your PT for ELOX?oldarmy1 said:Premiums above your share price will move slower than the share price so depending on where it explodes to I would look for disparity in values that pick up minimum $0.70 on $2.50 calls and $2.30 on $5 calls.kyledr04 said:oldarmy1 said:
I've continued to load ELOX shares leveraging the excellent premium valuation. How many shares will I buy will depend on how many covered calls get filled at the ask. To me this is about the best trade for super large positions due to being able to leverage calls that would leave you at or below where the largest institutions dropped millions. I had 50 more fill so just bought 50k more shares creating a fun spike.
So what's your plan for all those covered shares. I assume you bought August 2.5s or 5s. Hold those until then and see if they get called out. I've struggled to understand how that trade works out since a big spike might not last until then. I think we had they happen REI. Are you just ok holding those shares?
If it really explodes then I'd end up selling non-covered shares and leave the $5-$7.50 calls as profit locks into those expirations OR if decay makes them worth rolling or terminating them.
A few mean reverters that may be worth looking at taking a long swing on early next week...(in order what I think looks most favorable
DVN
HLF
CNC
ADM
EWZ
I'll add UNH here, I want to like it but geez, that's not a chart that looks good to me?
DVN
HLF
CNC
ADM
EWZ
I'll add UNH here, I want to like it but geez, that's not a chart that looks good to me?
Somehow I missed that ASO runup at the end of the day.
41.70 close,
41.70 close,
StrawberryFields said:
What, if any, hedges are people taking into the weekend?
I got august spy 375 put for 2.35
scope out the descending trendline/channel on $SNDL. If it can break.....
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