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Charismatic Megafauna
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6:50p, 6/30/21
AG
Wow mvis flush today. If i can't find a good reason I'm buying calls/ spreads with reckless abandon in the morning
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frankm01
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In reply to FJ43 • 7:01p, 6/30/21
Haha, thanks! You could have waited till morning.

ATOS has taken a beating the last few days but the options seem to still be good for covered calls. July 10C are .55. Stock is currently sitting at 6.21.
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BlueTaze
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7:52p, 6/30/21
Interesting take on the SKEW and how activity impacts cost of hedging....and creates somewhat of a backstop to the extreme downside.

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Peter Klaven
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In reply to frankm01 • 7:54p, 6/30/21
AG
I'm with you in that thinking and have been watching ATOS for a few weeks now. Almost did a buy/write back when it was in the 4's and really wish I had.

Even now, getting a 26% instant return in selling the 8/20 $7C seems pretty tempting. Then again, bios are volatile for a reason!
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Brewmaster
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In reply to frankm01 • 7:56p, 6/30/21
AG
frankm01 said:
Haha, thanks! You could have waited till morning.

ATOS has taken a beating the last few days but the options seem to still be good for covered calls. July 10C are .55. Stock is currently sitting at 6.21.
I'm all out of it (but still watching). It was a great play...hopefully plenty of others on here got in on it!
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SoTXAg09
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8:54p, 6/30/21
AG
Has anyone had issues with tax lot issues on thinkorswim, particularly mobile? Tried to trade a couple hundred shares of FUBO around a core with a stop on the new shares placed LIFO, but after getting stopped, the cost basis on what should have been the original shares changed.
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Cartographer
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In reply to SoTXAg09 • 9:04p, 6/30/21
Happens to me all the time. I have missed fills, limit orders filled higher or lower beyond the spread.

I am frustrated with it all.
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slacker00
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In reply to SoTXAg09 • 9:07p, 6/30/21
AG
wash ruled by chance?
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khkman22
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In reply to SoTXAg09 • 9:14p, 6/30/21
AG
SoTXAg09 said:
Has anyone had issues with tax lot issues on thinkorswim, particularly mobile? Tried to trade a couple hundred shares of FUBO around a core with a stop on the new shares placed LIFO, but after getting stopped, the cost basis on what should have been the original shares changed.
Do you check a couple days after or just right after the trade executes? On Schwab, even though you specify lots, it reflects FIFO (or I guess whatever your default is set as), but a couple days later, it updates it to show the correct lots you selected.
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Thundergon
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9:41p, 6/30/21
$ABNB

The only thing I don't like about this chart is how many people are talking about it. Left the moving averages off, but the 50-EMA is right at $153.30 also. It will need a big volume day. Looking for a downtrend break, squeeze fire, push through resistance on big volume.

Ever since they changed the photo setting on here I can't upload charts where y'all can expand and zoom in.

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$30,000 Millionaire
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9:55p, 6/30/21
AG
I missed 165 posts today. Well done gents.
You don’t trade for money, you trade for freedom.
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$30,000 Millionaire
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10:01p, 6/30/21
AG
Ps - easiest trade in the world is long dated naked puts on WWR
You don’t trade for money, you trade for freedom.
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SF2004
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In reply to $30,000 Millionaire • 10:12p, 6/30/21
AG
How far out and what strike are you selling?
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wanderer
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In reply to $30,000 Millionaire • 10:17p, 6/30/21
$30,000 Millionaire said:
Ps - easiest trade in the world is long dated naked puts on WWR
Did a version of a straddle on WWR today. Sold 11/19 $7.50p and bought 11/19 $5c for $2.25 credit each.
(sold $7.50p for 3.27, bought $5c for 1.02). I'm biased since I did it, but I think it's a win/win.


If you're looking at selling longer dated puts on WWR. Consider making it a vertical so the hit to your buying capital isn't as harsh. For example, selling a 11/19 $10p for $5.70 would tie-up ~$430 per contract. If you made it a 10/2.5p vertical for $5.65 credit it'd only tie up ~$185. It's only costing you ~$15 to buy the 2.5p, but it's having a pretty decent impact on the capital you're tying up.
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krosch11
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In reply to $30,000 Millionaire • 10:25p, 6/30/21
AG
I sold 74 November 5 dollar puts for 1.40 each two days ago.

Would love to own the shares but that's a definite win win.
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OutlawAG04
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10:32p, 6/30/21
Don't have a large position on it, but BRQS 227 million volume today wow.
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jimmo
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10:35p, 6/30/21

looks like another goalpost
wasn't sure if this one's been posted
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10:47p, 6/30/21
Ragoo
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In reply to [removed post] • 10:50p, 6/30/21
AG
https://www.simplertrading.com/traders/john-carter/
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Agvet12
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In reply to [removed post] • 10:50p, 6/30/21
AG
FAT SEXY said:
Just a curiosity question for guys that have been in the game for awhile and know lots of market history..

Is there anyone out there that is considered the "Michael Jordan of Trading"? Is it Warren Buffet or is there someone else that I may not have heard of before that wears the GOAT shoes?


Gordon Gecko

I kid I kid
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98PercenterAg
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In reply to [removed post] • 11:11p, 6/30/21
AG
FAT SEXY said:
Just a curiosity question for guys that have been in the game for awhile and know lots of market history..

Is there anyone out there that is considered the "Michael Jordan of Trading"? Is it Warren Buffet or is there someone else that I may not have heard of before that wears the GOAT shoes?
OldArmy1
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Farmer @ Johnsongrass, TX
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In reply to [removed post] • 11:19p, 6/30/21
FAT SEXY said:
Just a curiosity question for guys that have been in the game for awhile and know lots of market history..

Is there anyone out there that is considered the "Michael Jordan of Trading"? Is it Warren Buffet or is there someone else that I may not have heard of before that wears the GOAT shoes?
Jesse Livermore, GOAT, there is no second, and the father of TA.
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BullSprig07
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In reply to [removed post] • 11:20p, 6/30/21
AG
FAT SEXY said:
Just a curiosity question for guys that have been in the game for awhile and know lots of market history..

Is there anyone out there that is considered the "Michael Jordan of Trading"? Is it Warren Buffet or is there someone else that I may not have heard of before that wears the GOAT shoes?

Water Turkey07
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Agvet12
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In reply to BullSprig07 • 11:32p, 6/30/21
AG
BullSprig07 said:
FAT SEXY said:
Just a curiosity question for guys that have been in the game for awhile and know lots of market history..

Is there anyone out there that is considered the "Michael Jordan of Trading"? Is it Warren Buffet or is there someone else that I may not have heard of before that wears the GOAT shoes?



Rippy rippy
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krosch11
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In reply to Farmer @ Johnsongrass, TX • 11:34p, 6/30/21
AG
Just read his Wiki, what a life that guy lived. Wild
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12:10a, 7/1/21
$30,000 Millionaire
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In reply to SF2004 • 1:22a, 7/1/21
AG
SF2004 said:
How far out and what strike are you selling?


Nov and Jan. 5s and 7.5s.
You don’t trade for money, you trade for freedom.
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FJ43
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3:38a, 7/1/21

Howdy!

So Manicini said yesterday July 1st was one of the most bullish days of the year like 90% or something. Well new ATH touched premarket on SPY.

Me looking at SPY this morning.....



SPY touching 429.95 early premarket. Nuts....

Your morning snapshot....



Mixed around the world. Let's see what today brings.

My plan today is to trim some trades off my plate and add to some August hedges.

Tomorrow is lotto day....can't wait. Until then trade the trend and ......

Trade wisely!
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KY-AG 10
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In reply to Thundergon • 4:08a, 7/1/21
AG
Looked at this chart moments ago! Seriously chewing on some calls to go after
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spud1910
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In reply to FJ43 • 4:09a, 7/1/21
AG
Good morning. Thanks for your early work.
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FJ43
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In reply to Thundergon • 4:23a, 7/1/21
Thundergon said:
$ABNB

The only thing I don't like about this chart is how many people are talking about it. Left the moving averages off, but the 50-EMA is right at $153.30 also. It will need a big volume day. Looking for a downtrend break, squeeze fire, push through resistance on big volume.

Ever since they changed the photo setting on here I can't upload charts where y'all can expand and zoom in.

Have an alert set on this one. Above 154.80 and I think it moves to 159, 162, 164, 170.94, 173.35 .
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KY-AG 10
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4:35a, 7/1/21
AG
Question for the group
ITM vs OTM calls
Which do you prefer and why? Does it vary based on expiration? Confidence?
Thus far I've been living in the ITM calls side, but many times I see OTM posted.
ETA - I understand the nuts and bolts on deltas, price/percentage fluctuation, risk. Curious what folks' logic is...
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FJ43
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In reply to KY-AG 10 • 4:57a, 7/1/21
KY-AG 10 said:
Question for the group
ITM vs OTM calls
Which do you prefer and why? Does it vary based on expiration? Confidence?
Thus far I've been living in the ITM calls side, but many times I see OTM posted.
ETA - I understand the nuts and bolts on deltas, price/percentage fluctuation, risk. Curious what folks' logic is...
For me depends on the trade itself and always SR level targets.

Scalping SPY I am almost always ITM, ATM or +/- 1 on weeklies. Only time I go +2 is if I see strength or weakness (volume) that a certain SR level could be achieved.

Monthly calls I will go OTM and usually the strike or two below my expected level target. I seldom go ITM on monthly calls but know there are those who do. Favorite trades are MT plays and trendline breaks to next SRs.

Additionally I pay attention to call volume, flow and OI (Open Interest). Delta & Theta are the two main Greeks I look at.

Low volume stocks I don't tend to mess with.
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KY-AG 10
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In reply to FJ43 • 5:00a, 7/1/21
AG
Bless you sir.
Excellent info
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FJ43
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In reply to KY-AG 10 • 5:08a, 7/1/21
KY-AG 10 said:
Bless you sir.
Excellent info
When I am selling covered calls I typically pick a strike (weeks, month or two out at most) that is juuuuuust out of reach. Possible but unlikely. I am kind of a nut about selling and buying back calls over and over.

I know other use close to ATM to maximize the premium (cost basis reduction) and/or lock in a good short term gain. I will do that occasionally if the chart looks like it has time or if I didn't enter close to a lower support and want to minimize downside risk.
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