Used VIX over 20 and the dip today to sell some 9/17 SPY put credit spreads (435/433) for .25 each. It's not a sexy trade, but seems like a good way to utilize some parked capital instead of trying to catch falling knives.

SF2004 said:

---

FJ43 said:

---

KY-AG 10 said:

---

Opex this week. Fomc next week. FJs bicycle chart reminder

---

Bicycle Update.

Amazing how this works....

---

Trying a VERY small play on this.

Entered some Oct 21 460 calls to sell on a rip back next week.

Since I am trying this your bicycle is going to break... so may bad in advance.

---

Oct probably OK IMO. I guess I am not expecting any meaningful rip in Sept though.

FOMC next week so who knows though.

wanderer said:

---

Used VIX over 20 and the dip today to sell some 9/17 SPY put credit spreads (435/433) for .25 each. It's not a sexy trade, but seems like a good way to utilize some parked capital instead of trying to catch falling knives.

---

Always wondered how folks approach these type of plays. It seems like pretty easy money, but the risk:reward is really skewed. I never know if they make sense or not.

jwhitlock3 said:

---

Always wondered how folks approach these type of plays. It seems like pretty easy money, but the risk:reward is really skewed. I never know if they make sense or not.

---

I'd argue that's not really the case. If I wanted to sell closer to the money I could receive more (credit) but I'd also be taking on more risk. If I went further OTM I could have less risk, but also receive less (credit). The market is what it is and the risk/reward is built into the price of the options (unless you find some sort of arbitrage). I believe this is especially true with an ETF like SPY. May not always be the case with something crazy like GME/AMC/etc...

jwhitlock3 said:

---

wanderer said:

---

Used VIX over 20 and the dip today to sell some 9/17 SPY put credit spreads (435/433) for .25 each. It's not a sexy trade, but seems like a good way to utilize some parked capital instead of trying to catch falling knives.

---

Always wondered how folks approach these type of plays. It seems like pretty easy money, but the risk:reward is really skewed. I never know if they make sense or not.

---

Depends on if you believe in probabilities and statistics.

This is a great trade according to that.

He has already made money on the VIX drop.

McInnis 03 said:

---

Public Service Announcement:

If you see any permabears that have been calling for a crash for 1.5yrs taking victory laps today please remind them that it’s OpEx week and the market goes down like this EVERY time. If they don’t know that then they suck at macro AND trading.

❤️🐴

— Horselover Fat 🧙‍♂️ (@Michigandolf) September 14, 2021

---

I have learned that markets do not regularly "crash". They trend upwards with upswings and downswings based on price action. Anyone who is a long term "bear" fails to see 100 years worth of history that the markets goes up. These swings can sometimes be on the downside by 10-15% but these aren't crashes.

There are short term crashes based on huge catalyst (tech boom, housing, covid), but then the rally returns to the previous high and continues on.

If a company continues to grow revenue then it will not "crash" etiher.

If you live in meme stocks or speculative growth stocks then yes you could take a beating.

FJ43 said:

---

SPY as of now.

Watching yellow trend line and 50EMA

---

Hmmmmm little yellow trend line. Wick right to it. Let's see if tests lower towards 50 from here.

ZS

Maybe keep this on your radar. Had a good day despite market weakness.

Bounced of ATR mean yesterday.

Probably room to 280, 283.50ish+

Could go out a week.

Double_Bagger said:

---

RigsTx said:

---

jwhitlock3 said:

---

SAVA putting in lower lows today, not sure what's goin on there. No news I can see.

---

IMHO, SAVA is going to bleed lower until the 3rd party data review of the 12 month results is published. All the press lately has been negative. Now if a 3rd party firm agrees with the 12 month results and they continue to show improved cognitive function I believe you will see a nice run up.

But until then, there is no catalyst out there to send it upwards.

---

I think the other big catalyst will be the FDA response to the Citizens Petition. They have 150 days to respond.

---

Maybe we get lucky and SAVA becomes the next Wall Street Bets short squeeze candidate. I checked with Fidelity and there aren't any shares available to short, so I assume short interest is pretty high.

Shorts as a % of float and of outstanding were both around 20% as of Aug31 That is double from a month ago. It will be interesting to see the number of shares short as of Sept15 when that's reported early next week.

I hear you. The only think I've done right recently is cut losers. I should start a Fade Tomas twitter feed. It would be wildly popular.

Does anyone know if OA still offers his class?

The last two days have been total beatdowns. Loaded with self-doubt right now. Debating just putting all my money into the SPY….just not this week lol.

Would love to have a few winners to break out of my slump, but just not getting a sense that's gonna happen.

BaylorSpineGuy said:

---

Does anyone know if OA still offers his class?

The last two days have been total beatdowns. Loaded with self-doubt right now. Debating just putting all my money into the SPY….just not this week lol.

Would love to have a few winners to break out of my slump, but just not getting a sense that's gonna happen.

---

sell puts. harder to lose.

McInnis 03 said:

---

Welcome back to earth ATER. We didn't want you back.

---

Nice, i felt like i was throwing away money buying my puts back yesterday morning when it couldn't stop wouldn't stop...but it did stop

Nicely done sir! I sold all but 100 shares and I thought about put spreads to profit if it came back to earth this week. Shoulda woulda coulda.

Zs, Crwd, okta, net all green today when not much else was was...

Watching ZM the last couple weeks. Seems to have begun to settle at a strong support value area. Can't help but see that huge gap to fill above. Want to see some confirmation of a bottom. Then planning on a swing. Probably after fomc.

You have to watch daily chart now and see if $SDC reclaims the Gap again for any bullish bias, 6 is key https://t.co/3T7KGdfLs0

— Ripster (@ripster47) September 14, 2021

KY-AG 10 said:

---

Watching ZM the last couple weeks. Seems to have begun to settle at a strong support value area. Can't help but see that huge gap to fill above. Want to see some confirmation of a bottom. Then planning on a swing. Probably after fomc.

---

ZM just broke below its post-earnings low today. That's pretty bearish. Need to watch how it handles the 273 area low from May next.

Stay at home stocks like ZM and TDOC are looking pretty weak right now.

Agreed. The bottom I'm looking for is 278ish give or take a couple bucks. Going back to S/R lines on the weekly chart. If it stays at or above that level I think we'll see this consolidation turn up when money starts coming back to this sector
To draw a parallel. AMZN chart looks nearly identical. Just 30 days sooner.

Today will tell us a lot.

SPX closed its gap and is now looking for a bottom. Once it finds it, look for a very clear impulsive move off of it. If you don't see that, then we haven't found the bottom.

I think we find it today. The OPEX shenanigans will be the shakeout of the bears as we push back up.

mazag08 said:

---

Today will tell us a lot.

SPX closed its gap and is now looking for a bottom. Once it finds it, look for a very clear impulsive move off of it. If you don't see that, then we haven't found the bottom.

I think we find it today. The OPEX shenanigans will be the shakeout of the bears as we push back up.

---

I think so too. 6 down days in a row is excessive.

Sell the bounce continues in #ES_F setting new lows 6 days in a row -1st since Feb 2020. 4447-4437 remains battleground

Plan today: Usual morning bounce likely. Bulls need to clear 4455 to see any sustained upside to 4485/4530 though. Fails we see simply continue to 4375-80 zone https://t.co/HU78N4n2XN

— Adam Mancini (@AdamMancini4) September 15, 2021

Quad-witching Friday has over $1.5Trillion in $SPX options expiring. Sets up some potential heavy volatility. Watching the $VIX for last mid $15's exit point. It staying below $20 leans towards a bullish move post Friday expirations.

Sticking with call side bias post-QW.

— 2021 Opportunity Stocks Knock (@oldarmy1) September 15, 2021

I want to believe Stewie, I want to believe. But.....I just don't know.

$IWM down 6 out of the last 7 days ... and now starting to see MACD and RSI divergences emerging...

Charts pointing to a big bounce(probably tomorrow). A gap down open that reverses should get it started, imho.

IWM https://t.co/NLDydIdNPT

— Traderstewie (@traderstewie) September 14, 2021

wanderer said:

---

Used VIX over 20 and the dip today to sell some 9/17 SPY put credit spreads (435/433) for .25 each. It's not a sexy trade, but seems like a good way to utilize some parked capital instead of trying to catch falling knives.

---

No problem with the trade, but we are nowhere close to falling knives....