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.
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Oct probably OK IMO. I guess I am not expecting any meaningful rip in Sept though.SF2004 said:Trying a VERY small play on this.FJ43 said:Bicycle Update.KY-AG 10 said:
Opex this week. Fomc next week. FJs bicycle chart reminder
Amazing how this works....
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.
FOMC next week so who knows though.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
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.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.
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:
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.
Public Service Announcement:
— Horselover Fat 🧙♂️ (@Michigandolf) September 14, 2021
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.
❤️🐴
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***
B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
Depends on if you believe in probabilities and statistics.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.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.
This is a great trade according to that.
He has already made money on the VIX drop.
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.McInnis 03 said:Public Service Announcement:
— Horselover Fat 🧙♂️ (@Michigandolf) September 14, 2021
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.
❤️🐴
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.
Hmmmmm little yellow trend line. Wick right to it. Let's see if tests lower towards 50 from here.FJ43 said:
SPY as of now.
Watching yellow trend line and 50EMA
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
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.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
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.Double_Bagger said:I think the other big catalyst will be the FDA response to the Citizens Petition. They have 150 days to respond.RigsTx said: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.jwhitlock3 said:
SAVA putting in lower lows today, not sure what's goin on there. No news I can see.
But until then, there is no catalyst out there to send it upwards.
I messed up today - $10K mistake
Here's what I did.
FB 0917 280C, 200 contracts, no intention to hold overnight.
Here's what I did.
FB 0917 280C, 200 contracts, no intention to hold overnight.
You don’t trade for money, you trade for freedom.
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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.
Bob Knights Paper Hands
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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.
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.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.
You don’t trade for money, you trade for freedom.
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AG
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
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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.
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AG
Zs, Crwd, okta, net all green today when not much else was was...
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AG
Right now I'm happy with "didn't lose money" lol.
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
Thank you for sharing these and showing your thought process on the chart. Posts like these are some of the most educational for this board and I really appreciate you taking the time to post.$30,000 Millionaire said:
I messed up today - $10K mistake
Here's what I did.
FB 0917 280C, 200 contracts, no intention to hold overnight.
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.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.
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.
To draw a parallel. AMZN chart looks nearly identical. Just 30 days sooner.
We are in a choppy, volatile market right now with quad witching week. Can always just watch the action and not trade, Just remember, you don't always have to trade.
easier said than done
Morning gents!
Mostly red EU & Asia with US greenish to flat.
Mid week of OpEx week.
This month's OpEx shenanigan's hasn't seen the violent sell but seems more of an orderly grind down.....yet.
We are below the 8 & 21 EMAs with 50 nearby so a bit in the middle of no where.
I hate being in the middle.......
Trade wisely!
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
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.
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.
You don’t trade for money, you trade for freedom.
FJ43 said:
I hate being in the middle.......
I literally though of you right after I posted and what you would come back with.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Sell the bounce continues in #ES_F setting new lows 6 days in a row -1st since Feb 2020. 4447-4437 remains battleground
— Adam Mancini (@AdamMancini4) September 15, 2021
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
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
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.
— 2021 Opportunity Stocks Knock (@oldarmy1) September 15, 2021
Sticking with call side bias post-QW.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
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...
— Traderstewie (@traderstewie) September 14, 2021
Charts pointing to a big bounce(probably tomorrow). A gap down open that reverses should get it started, imho.
IWM https://t.co/NLDydIdNPT
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***
B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
No problem with the trade, but we are nowhere close to falling knives....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.