FJ43 said:

---

AG 2000' said:

---

Everyone talking about BBIG calls but no one calling dates and prices.

---

I bought 10/15 7.50C

---

I grabbed one just now for 2.46, then realized i should have just done a buy-write but couldn't put it together before close

$30,000 Millionaire said:

---

you guys ******* or are you going to buy some BBIG calls with me?

---

missed my buy order, probably a good one to just go calls, not verticals. Will look at it again Monday a.m. (and buy it Tuesday, lol) if it hasn't already gone ape! I do have some commons though.

edited for Labor day, rats no markets!

NRD09 said:

---

Have a great long weekend boys!

---

Yes, this! cheers!

Solid day today.

BREwmaster said:

---

$30,000 Millionaire said:

---

you guys ******* or are you going to buy some BBIG calls with me?

---

missed my buy order, probably a good one to just go calls, not verticals. Will look at it again Monday a.m. if it hasn't already gone ape! I do have some commons though.

---

Hey brew, you can take Monday off

Man, I got shaken out early.

I had an iron butterfly on SPY centered on 453 and a PCS on AMC with short leg at 44. These were sold yesterday.

I took partial loss on AMC when it went into the 42's today and closed the SPY trade for a slight profit (nowhere near max).

Each underlying closed at what would have been max profit. Left some dollars on the table.


So, question for credit spread sellers, are you managing these much, or just let em rip and then close at end of day with wherever they land? At one point, the delta on the AMC 44C was in the teens I think, real low probability that it was going to end up back OTM. My fault for selling premium on a meme.

$30,000 Millionaire said:

---

you guys ******* or are you going to buy some BBIG calls with me?

---

I'm in!

CrazyRichAggie said:

---

Going on my old man lunch walk an almost ran right into this guy hanging from a tree

---

Got one of those *******s right outside my office window...pretty sure it could carry off one of my kids if it wanted

Esteban du Plantier said:

---

Man, I got shaken out early.

I had an iron butterfly on SPY centered on 453 and a PCS on AMC with short leg at 44. These were sold yesterday.

I took partial loss on AMC when it went into the 42's today and closed the SPY trade for a slight profit (nowhere near max).

Each underlying closed at what would have been max profit. Left some dollars on the table.


So, question for credit spread sellers, are you managing these much, or just let em rip and then close at end of day with wherever they land? At one point, the delta on the AMC 44C was in the teens I think, real low probability that it was going to end up back OTM. My fault for selling premium on a meme.

---

Iron butterfly - try to get 50% of max profit. Dump if you have sustained action outside the protective strikes.

Put credit spread - 80% of max profit should be your target. Price action outside your protective strike is your clue to think about bailing. Within the strikes, play it by ear, but you should be in profit at the start of the expiration day. Don't leave this stuff to chance.

McInnis 03 said:

---

FJ43 said:

---

Hmmmmm.not stocks related but.

*WHITE HOUSE PROPOSES $65 BLN PLAN TO COMBAT FUTURE PANDEMICS

— *Walter Bloomberg (@DeItaone) September 3, 2021

---

****ing A you have to be ****ing kidding me.

---

The plan is to give Bill and Ted a bunch of Pfizer pills to take with them.

BREwmaster said:

---

$30,000 Millionaire said:

---

you guys ******* or are you going to buy some BBIG calls with me?

---

missed my buy order, probably a good one to just go calls, not verticals. Will look at it again Monday a.m. if it hasn't already gone ape! I do have some commons though.

---

I'll try to fill some of these as well on Tuesday, along with some CLOV verticals.

Tomas Hermensa said:

---

My lotto 725/730/735 TSLA flies sold for $4 at 2:45 today. That's a bit over 10x what I bought them for. Half the 735/740/745 flies sold earlier in the week to make all of my flies net free which is why I held so long. I am going to treat myself with some scotch tonight.

---

Congrats on a great trade!

I took assignment on OSTK 70P that I sold. Covered calls on tap on Tuesday.

FJ43 said:

---

Old school barbers take care of you.

---

Nature has permanently taken care of that consern for me.

What is the thought for BBIG? I see people discussing Oct calls or call spreads. Since it still has not hit model T yet, do you think we get continuation of the current move? If not would it be smart to wait for more consolidation before buying Oct calls?

Maybe I would make this into a 2-3 tier investment? On a high level I this would look like buying tier 1 soon, planning to purchase tier 2 at some option price related to just above model T or to assume decay after a week or two, and then having tier 3 be related to option pricing assuming end of Sept at model T price? Something along those lines?

FJ43 said:

---

Old school barbers take care of you.

---

Now available at HEB!

My mobile sucks. Did WWR really get back to $4 AH? Asking for a friend.

$3.95 right now

$30,000 Millionaire said:

---

Esteban du Plantier said:

---

Man, I got shaken out early.

I had an iron butterfly on SPY centered on 453 and a PCS on AMC with short leg at 44. These were sold yesterday.

I took partial loss on AMC when it went into the 42's today and closed the SPY trade for a slight profit (nowhere near max).

Each underlying closed at what would have been max profit. Left some dollars on the table.


So, question for credit spread sellers, are you managing these much, or just let em rip and then close at end of day with wherever they land? At one point, the delta on the AMC 44C was in the teens I think, real low probability that it was going to end up back OTM. My fault for selling premium on a meme.

---

Iron butterfly - try to get 50% of max profit. Dump if you have sustained action outside the protective strikes.

Put credit spread - 80% of max profit should be your target. Price action outside your protective strike is your clue to think about bailing. Within the strikes, play it by ear, but you should be in profit at the start of the expiration day. Don't leave this stuff to chance.

---

Both of these were one dollar wide, so pretty volatile - max profit to max loss in minutes.

I've been trying to play with short expiration spreads and don't want to risk too much learning, hence the dollar wide.

Quarterly earnings come out Nov 12. They might try to combat the negative PR then.

Red Rover said:

---

What is the thought for BBIG? I see people discussing Oct calls or call spreads.

---

Seems really odd that a lot of the order flow today was for itm calls. There were a bunch of otm puts purchased too. Could this be funds putting protection in place for a short attack?

BREwmaster said:

---

also yesterday someone bought 43,000 shares at $54. That's over $2 mil!

---

Short covering?

NRD09 said:

---

Red Rover said:

---

What is the thought for BBIG? I see people discussing Oct calls or call spreads.

---

Seems really odd that a lot of the order flow today was for itm calls. There were a bunch of otm puts purchased too. Could this be funds putting protection in place for a short attack?

---

Maybe they want to avoid some of the decay with the itm calls. Although they'd have been better served with October itm, but that makes me think this happens real soon, like Tuesday soon.

and they're buying the puts as protection or maybe they're playing it like a strangle.

Question for the experts:

If you believe a company is failing or trending down badly, what is the best way to profit? I don't want to naked short (I don't trade on margin), but I would be interested in puts.

All major credit card companies (V, MA, COF, DFS, APX) are cratering over the last month. Not one of them is down less than 10%, and the charts don't look good for them. It basically looks like a free fall. MasterCard fell through a 6 month support today. I have my theories why this is happening. Looks like delinquency rates are up a bunch, particularly in young people. Close to 10% two months ago, and my guess is that number is even higher now that stimulus checks have dried up. But no one is publishing about this decline in the financial services sector. Maybe I'm the moron..

So what is the best option play? Choosing a far out expiration close to the money? Farther away from the money so lower premium? How would you all do it?

I have been buying puts 2-4 weeks out and selling when I get 40-50% gains, but if this trend continues, more money could be out there.

Thanks for your insights.

Not a lot of details there but call credit spreads are a good way to profit if you think a stock will stay the same price or godown in price. That's selling an ATM or just OTM call and buying one a bit further OTM.

BaylorSpineGuy said:

---

Question for the experts:

If you believe a company is failing or trending down badly, what is the best way to profit? I don't want to naked short (I don't trade on margin), but I would be interested in puts.

All major credit card companies (V, MA, COF, DFS, APX) are cratering over the last month. Not one of them is down less than 10%, and the charts don't look good for them. It basically looks like a free fall. MasterCard fell through a 6 month support today. I have my theories why this is happening. Looks like delinquency rates are up a bunch, particularly in young people. Close to 10% two months ago, and my guess is that number is even higher now that stimulus checks have dried up. But no one is publishing about this decline in the financial services sector. Maybe I'm the moron..

So what is the best option play? Choosing a far out expiration close to the money? Farther away from the money so lower premium? How would you all do it?

I have been buying puts 2-4 weeks out and selling when I get 40-50% gains, but if this trend continues, more money could be out there.

Thanks for your insights.

---

Does delinquency hit V and MA? I think transactions are down, which is likely where their revenue comes from. Lack of stimulus, having to pay rent, end of the grift, all would play into that as well. I wouldn't be surprised to see another couple rounds to get through midterms though.

Every article I have read suggested there were not gonna be any more stimulus checks, no political will for it, etc.

Additionally, I read all the quarterly reports for V and MA, and their outlooks were seemingly bullish, and transactions were up! They looked well positioned for the future and had made some acquisitions and new alliances with athletic venues, etc.