nice green day....GMVD (out now) made solid money. only need CEI to pop.
Good call BBrian Earl Spilner said:
Feeling a red open to a slow climb to green close today.
mazag08 said:IWM is a wave count ahead of SPX since March 2020 lows. So it seems to have bottomed and started its next wave up. SPX still needs a 200-400 point correction. I think you are more likely to see the large SPX correction line up with a small degree IWM correction, and then both take off at the same time with IWM leading the charge.NRD09 said:
That thought just occurred to me earlier today...with so many small cap/spec stonks that seem to be gearing up lately, i wonder if the spy pullback is gong to coincide with a russel rip
But there is still the smaller possibility that we have a deeper low yet to be seen in IWM that would take it near 200. I charted that possibility a while back but it seems (for now) to have invalidated. But it still technically exists as a possibility. That would mean that we have Russell and SPX both potentially dipping hard at the same time. Would not be fun.
$SQ Trader writes the ITM 280P buys the OTM 280C and collects $1.2M pic.twitter.com/nZTZ8n1xTs
— Theta Warrior (@ThetaWarrior) August 31, 2021
WHAAAAALE.gifMcInnis 03 said:
Y'ALL SEE WHAT I JUST DID?!?!$SQ Trader writes the ITM 280P buys the OTM 280C and collects $1.2M pic.twitter.com/nZTZ8n1xTs
— Theta Warrior (@ThetaWarrior) August 31, 2021
So we're pinning 735?Tomas Hermensa said:
I took 1/4 of my TSLA profits from today and bought 725/730/735 and 735/740/745 flies for this Friday. My name's Tomas and I'm an addict.
I'm so glad I sold $1 puts to lower my basis from my original stupid decision to buy.CrazyRichAggie said:
PROG with a volume spike
$30,000 Millionaire said:
It's always good to show when I mess up.
I entered $PYPL 295C on break of 290, assumption of continuation. I got absolutely blown up.
OutlawAG04 said:$30,000 Millionaire said:
It's always good to show when I mess up.
I entered $PYPL 295C on break of 290, assumption of continuation. I got absolutely blown up.
Sorry to hear that. I actually entered the same ones when it broke $290.44 which was an area I was monitoring. It kept hovering around the lower end of the 15 min ORB so I average down a few times throughout the day. Stirring at $1.05 average now and decided to hold these overnight. At least I had my eyes on the same calls as 30k I will consider that a win.
mazag08 said:I'm so glad I sold $1 puts to lower my basis from my original stupid decision to buy.CrazyRichAggie said:
PROG with a volume spike
You're the pro here 30k... (especially on these)$30,000 Millionaire said:
I overcame a major loss today to turn a profitable day. Was not easy.
BREwmaster said:You're the pro here 30k... (especially on these)$30,000 Millionaire said:
I overcame a major loss today to turn a profitable day. Was not easy.
why wouldn't I do a put credit spread on WWR? aren't we all expecting big things by November?
Nov. 5 / 10P, credit of $477 (max risk only $23)
a call vertical idea too:
5 / 7.50C for $18, max profit $232, net free in September at 4.70+
and if I want to be a true degnerate, just straight up buy the Nov. 10C's, trading at just .10.
$30,000 Millionaire said:BREwmaster said:You're the pro here 30k... (especially on these)$30,000 Millionaire said:
I overcame a major loss today to turn a profitable day. Was not easy.
why wouldn't I do a put credit spread on WWR? aren't we all expecting big things by November?
Nov. 5 / 10P, credit of $477 (max risk only $23)
a call vertical idea too:
5 / 7.50C for $18, max profit $232, net free in September at 4.70+
and if I want to be a true degnerate, just straight up buy the Nov. 10C's, trading at just .10.
I hadn't even considered the Nov 5/10 bull put. That is an amazing idea, but remember, the R/R is that way for a reason. That said, if you committed to risking $5K, that could be a f'ing bonanza of a trade.
Where does the $5k risk come from? Seems like max pain would be $23 for the Nov P5/P10 spread.$30,000 Millionaire said:BREwmaster said:You're the pro here 30k... (especially on these)$30,000 Millionaire said:
I overcame a major loss today to turn a profitable day. Was not easy.
why wouldn't I do a put credit spread on WWR? aren't we all expecting big things by November?
Nov. 5 / 10P, credit of $477 (max risk only $23)
a call vertical idea too:
5 / 7.50C for $18, max profit $232, net free in September at 4.70+
and if I want to be a true degnerate, just straight up buy the Nov. 10C's, trading at just .10.
I hadn't even considered the Nov 5/10 bull put. That is an amazing idea, but remember, the R/R is that way for a reason. That said, if you committed to risking $5K, that could be a f'ing bonanza of a trade.
Thank you both for clarifying. I like this strategy and I'm going to model it with some other tickers I like. Might be a profitable lotto play for OPEX or the 5-10% correction we're all anticipating (ie enter one of these bull put spreads after the dip at strikes we were near before the dip occurred).$30,000 Millionaire said:
yes, you would risk $5K or 200 contracts.
Your maximum gain would be $95,000. All of that said, it is priced the way it is because that is very unlikely to happen and has a 95% chance of not working out. I think risking 0.5% of your account on that type of trade and just planning to either hold until the bitter end or flip it on any strength is a decent lotto trade.
I want to say again that based on the price action, this is extremely unlikely. However, if there is any type of catalyst, there probably isn't a better lotto trade.