SAVA 90 July calls big buy

FJ43 said:

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Farmer @ Johnsongrass, TX said:

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If the Market doesn't rebound by the Close and with OPEX in consideration, tomorrow could be reddish or really reddish.

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We are back over my 421.43 level for now. We need 422.37 then 423.42 where he started yapping.

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Okay, I'm going with a red day tomorrow.

Interesting close.

Bears didn't push SPY back down to 420.68 (422.40 now) and they didn't push Qs back down below 341 (341.07 now).

FJ43 said:

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Interesting close.

Bears didn't push SPY back down to 420.68 (422.40 now) and they didn't push Qs back down below 341 (341.07 now).

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I didn't think the bears tried hard when the Market was on it's heels during the JPOWELL comments. I'm not an expert either.

Farmer @ Johnsongrass, TX said:

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FJ43 said:

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Farmer @ Johnsongrass, TX said:

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If the Market doesn't rebound by the Close and with OPEX in consideration, tomorrow could be reddish or really reddish.

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We are back over my 421.43 level for now. We need 422.37 then 423.42 where he started yapping.

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Okay, I'm going with a red day tomorrow.

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That 423.42ish level was tough. Wasn't the fireworks close I was thinking either way.

Hoping for R to G day tomorrow as I think we just have chop Friday on expiry.

Farmer @ Johnsongrass, TX said:

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FJ43 said:

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Interesting close.

Bears didn't push SPY back down to 420.68 (422.40 now) and they didn't push Qs back down below 341 (341.07 now).

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I didn't think the bears tried hard when the Market was on it's heels during the JPOWELL comments. I'm not an expert either.

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Me either at all man. I'm just a trainee looking at volume and levels.

Felt like a weird close. Someone is playing someone. Bull or Bear trap incoming?

Yeah,...it was like they (bulls and bears) were timid as to who would make the first move.

So I have a question for the smarts of the thread. SPX. I have noticed the last few times we have had fed or powell or any of the misfits up there speak, we have a drastic drop.

Looking at the option charts I have seen potential to make big money on that initial red candle, kind of a sky is falling so the premiums juice incredibly.

Example: 4185P with today expiry were $.05 around 10:30 today and once they spoke at 2 they rocketed briefly to around $15 each before leveling out substantially. I would assume that could be a good hedge idea to put a few $100 on way out strikes when they speak and sell immediately on that initial candle drop? Or do only the algos benefit from that much price action?

Just something I have noticed and wanted to bring as a question for some input.

Farmer @ Johnsongrass, TX said:

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Yeah,...it was like they (bulls and bears) were timid as to who would make the first move.

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The money into folks like AMZN the past week and especially today just doesn't seem bearish. Today despite the Fed, was a solid volume candle (almost 1.9M shares) and move for AMZN over 3400.

Mancini update.

As posted, 1st move after FOMC is oftrn trap & perfect example today in #ES_F with a washout then bounce. Bulls not out of woods yet - 4234 was my key lvl today and needs to base then recapture it to put ATHs back in play. Support now 4165-4175 and this will drop hard if it fails https://t.co/XlaTGBkqoB

— Adam Mancini (@AdamMancini4) June 16, 2021

What happened in the last hour? My account was down around $15k for the day, looked away for an hour, now only down $5k.

WARM has been killing it for the past month. Already net free on it, let's ride this baby to a dollar.

FJ43 said:

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Farmer @ Johnsongrass, TX said:

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Yeah,...it was like they (bulls and bears) were timid as to who would make the first move.

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The money into folks like AMZN the past week and especially today just doesn't seem bearish. Today despite the Fed, was a solid volume candle (almost 1.9M shares) and move for AMZN over 3400.

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I was heavily focused on CVX, XOM, T, and ABBV during the "rout". I didn't see any of these flinch.

I want CVX & XOM at $110 and $65 on Friday because I want to get exercised....then I'll take the pullback.

I may get my wish on the Friday exercise, but I'm not sure about a pullback - maybe this is what Adam is talking about, the first move has me second guessing myself.

FUBO cruising after hours. Up 6%. Can't find a catalyst. Anyone know what's up?

AgEng06 said:

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So when does the TTD split show up? Tonight, prior to open tomorrow?

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6/17 I think

McInnis 03 said:

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AG 2000' said:

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SAVA 90 July calls big buy

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somebody knows.

$1.17MM buy for the record.

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The interesting thing here is that these will expire before SAVA presents at the Alzheimers Conference.

So they must be expecting a run-up into that.

I own some LEAPS on this and trying to decide if I want to hold through the conference or reduce my position size to Net Free.

I'm quite bullish on the stock, but I worry about buy the rumor, sell the news happening.

Anyone else have any thoughts?

Farmer @ Johnsongrass, TX said:

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FJ43 said:

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Farmer @ Johnsongrass, TX said:

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Yeah,...it was like they (bulls and bears) were timid as to who would make the first move.

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The money into folks like AMZN the past week and especially today just doesn't seem bearish. Today despite the Fed, was a solid volume candle (almost 1.9M shares) and move for AMZN over 3400.

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I was heavily focused on CVX, XOM, T, and ABBV during the "rout". I didn't see any of these flinch.

I want CVX & XOM at $110 and $65 on Friday because I want to get exercised....then I'll take the pullback.

I may get my wish on the Friday exercise, but I'm not sure about a pullback - maybe this is what Adam is talking about, the first move has me second guessing myself.

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Snapshot of SPY

We bounced the ATR mean & 21EMA during the JP speech.
Closed below 8 and right at 12EMA
That volume shelf at 420.68 held.
Still well within long term trend.
PBV has a pretty decent shelf from 418-416.

Ugly candle though.

Tomorrow could be interesting or telling on support.

AG 2000' said:

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SAVA 90 July calls big buy

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SAVA:

Sold Aug $50 calls a while back when it was in the mid-40s. My overall Basis is below $35, so that meant a return of around 50% including the cc premium if called out. Seemed like a good idea at the time....but now, not so much.


So today I rolled CC to Nov $60s for a net debit of $2.25. I figure that way I capture an additional $7.75 return for my shares via higher strike ($10 more on underlying shares less the net debit on CCs). Obviously this would assume it remains over $60 in Nov.

Anyone know another (or better) way to play this type of situation?

CRWD

Kinda like this above 235.80 (today's high) for a June 25 or maybe July Options play.

Held up well today.

Its tapping +2 ATR last few days.
Has history of blowing up to +3 and through then retrace back in.
Flagging now.

VXX sucks, tried to hold as a hedge this week and its way underperformed VIX.

Slow grind down on SPY AH.

420.68 incoming.

Aggiesincebirth said:

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Please baby Jesus WWR end the week at $4.99 then rip to $30 next week. Please o please Amen

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I'm fully expecting it to close at $5.00 on the dot on Friday (again)

Someone on Twitter said it wasn't too bad of a plan. Acknowledge what's happening but not actually change anything yet.