cptthunder said:

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FJ43 said:

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cptthunder said:

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If yall had to put numbers to it how would everyone define singles, doubles etc for options?

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Just me...in baseball terms but not when we refer to a double. When people refer to a double its a 100% ROI.

Baseball analogy for me on scalps....
10-25% = Single
25-50% = Double
50-75% = Triple
75-100%+ = Home Run

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This is generally what i have in mind also
Ive got to get better about thinking of risk reward also which i know a few on here bring up every once in awhile

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I'll take singles on every scalp trade all day if I could. If something has juice then I will leave runners.

Often I will trade the same option 3, 4, 5 times in a single day up and down if I have the time. Especially on something like SPY.

Watch this gap....

Taking a small play on AAPL 144c here, tomorrow expiry, it's an ORH play.

I think I'm finally starting to follow some of your SPY posts. This is the gap I'm watching and playing.

FJ43 said:

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TexasAg2017 said:

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FJ43 said:

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Easiest trade today might be fading the open ATM if SPY gets to 439.40...ish

442 big level IMO

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So if I'm understanding this correctly, ATM spy puts if we open around the 439 level? Going to paper trade this at open and see what happens

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I would watch the open for any run and buy weekly (tomorrow's) ATM puts at next resistance rejection. 439.88 & 441.86 are two stiff levels I see with some noise in-between.

This would be a scalp only.

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Entered the trade around 439.80 walked away for a few minutes without setting a sell order and missed my opportunity. These scalps are FAST and FURIOUS lol. Lesson learned and onto the next one. Thanks for the insight!

Check out the spy 1hr. Pretty solid climb following reclaiming the 200 ema on 6/21, 7/30 and to a lesser extent 8/19. Think we grind up through at least tomorrow morning

Spoony Love said:

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I think I'm finally starting to follow some of your SPY posts. This is the gap I'm watching and playing.

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439.88 may be support if trend changes.

FJ, when VIX comes down like this, do you have a call trade that you work as an antithesis to the put trade?

Watch NVDA over 212.45 - may try and gap fill back to 215 for a scalp.

SPY hit the 9/3 & 9/27 4 hour downtrend line and rejected just now.

Let's see.

AG 2000' said:

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FJ, when VIX comes down like this, do you have a call trade that you work as an antithesis to the put trade?

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Yes but not yet for me. I would look for VIX calls but out a few weeks. May be best to not fight the trend today and see if VIX stays below 20 into close.

Curious if VIX gets down to 18 or 18.70 which are two trend lines I have drawn.

McInnis 03 said:

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Taking a small play on AAPL 144c here, tomorrow expiry, it's an ORH play.

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Play still valid, they're defending the ORH......

FJ43 said:

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Watch MSFT today and see if breaks out

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If anyone followed this with alerts congrats.

I bought 297.50s at .70 on the reversal.

Trimming some here at 1.02 and will leave runners.

FJ43 said:

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FJ43 said:

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Watch MSFT today and see if breaks out

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If anyone followed this with alerts congrats.

I bought 297.50s at .70 on the reversal.

Trimming some here at 1.02 and will leave runners.

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I took your idea and watched it come off the ORL, took 295c's @ $1.53, down to my runner.

FJ43 said:

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AG 2000' said:

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FJ, when VIX comes down like this, do you have a call trade that you work as an antithesis to the put trade?

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Yes but not yet for me. I would look for VIX calls but out a few weeks. May be best to not fight the trend today and see if VIX stays below 20 into close.

Curious if VIX gets down to 18 or 18.70 which are two trend lines I have drawn.

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Thanks. I've got that 18.70 trend line, that's what I was thinking about in part. If it hits that, look for 20Cs 3-4 weeks out?

FJ43 said:

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FJ43 said:

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Watch MSFT today and see if breaks out

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If anyone followed this with alerts congrats.

I bought 297.50s at .70 on the reversal.

Trimming some here at 1.02 and will leave runners.

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Trailing stops triggered on runners.

I will buy back here with clearance of 296.50.

NRD09 said:

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Check out the spy 1hr. Pretty solid climb following reclaiming the 200 ema on 6/21, 7/30 and to a lesser extent 8/19. Think we grind up through at least tomorrow morning

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I concur - this would also jive with the days leading up to most OPEX weeks. Grind higher then OPEX weeks hits and grind lower, then dump Friday of OPEX.

McInnis 03 said:

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McInnis 03 said:

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Taking a small play on AAPL 144c here, tomorrow expiry, it's an ORH play.

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Play still valid, they're defending the ORH......

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When you use ORH or ORL, what timeframe is that based on? What do you see as the ORH for AAPL?

McInnis 03 said:

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McInnis 03 said:

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Taking a small play on AAPL 144c here, tomorrow expiry, it's an ORH play.

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Play still valid, they're defending the ORH......

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lots of nice gaps to fill upward too.

StrawberryFields said:

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McInnis 03 said:

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McInnis 03 said:

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Taking a small play on AAPL 144c here, tomorrow expiry, it's an ORH play.

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Play still valid, they're defending the ORH......

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When you use ORH or ORL, what timeframe is that based on? What do you see as the ORH for AAPL?

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My Opening Range (OR) is the first 30 minutes of the regular trading hours.

ORH is the high during that first 30min, ORL is the low during that first 30 minutes.

My indicator leaves them on my chart throughout the day on any timeframe I use.

Notice with AAPL today, so far....once we broke ORH we really haven't been allowed to get back into it. That's the bulls defending.....it can certainly fail, but it's a setup I like either on the upside ORH or downside ORL.

With regards to AAPL today, I'm liking it less now since there's a decent defense going on of anything above 144.......but something is going to give.

StrawberryFields said:

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McInnis 03 said:

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McInnis 03 said:

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Taking a small play on AAPL 144c here, tomorrow expiry, it's an ORH play.

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Play still valid, they're defending the ORH......

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When you use ORH or ORL, what timeframe is that based on? What do you see as the ORH for AAPL?

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When McInnis introduced me to the crack that is the opening range, it was using 5 minute candles, and working off the ranges after the first half hour is baked.

AG 2000' said:

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FJ43 said:

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AG 2000' said:

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FJ, when VIX comes down like this, do you have a call trade that you work as an antithesis to the put trade?

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Yes but not yet for me. I would look for VIX calls but out a few weeks. May be best to not fight the trend today and see if VIX stays below 20 into close.

Curious if VIX gets down to 18 or 18.70 which are two trend lines I have drawn.

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Thanks. I've got that 18.70 trend line, that's what I was thinking about in part. If it hits that, look for 20Cs 3-4 weeks out?

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If it gets there then I would wait to see if 18 is reached.

SPY and VIX correlate pretty well. If SPY is in no mans land on an uptrend generally it will move to the next resistance which VIX will stay flat or go lower. That is about where we are now.

Out 2-4 weeks is the range I might go.

AG 2000' said:

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FJ43 said:

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VIX puts.

Congrats if you held onto some. They are double now.

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Closed those out yesterday before the close.

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me too, i didnt want to hold onto them overnight. too much weird uncertainty for me.

still made almost 30%

sts7049 said:

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AG 2000' said:

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FJ43 said:

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VIX puts.

Congrats if you held onto some. They are double now.

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Closed those out yesterday before the close.

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me too, i didnt want to hold onto them overnight. too much weird uncertainty for me.

still made almost 30%

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Nothing wrong with that at all.

Purple dots for fruit on the 2min......usually means a candle of significance is comin.

I'm on it. The $2 Dec calls have almost no time value in them so the price of the call is .375 whereas the stock price difference between current (2.35) and strike (2) is .35. I'm curious as to whether or not the calls will move more in value

McInnis 03 said:

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Purple dots for fruit on the 2min......usually means a candle of significance is comin.

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That candle was down, and that candle stopped me on that 144c play.

Feels like we are turning bearish for the rest of the day.

McInnis 03 said:

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McInnis 03 said:

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Purple dots for fruit on the 2min......usually means a candle of significance is comin.

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That candle was down, and that candle stopped me on that 144c play.

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tricky tricky. I was watching that wedge, winding tighter. Still great volume on the 144c and 145c's (weekly exp).

Spoony Love said:

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Feels like we are turning bearish for the rest of the day.

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Watch 4411.5 on the /ES. That's the opening range high, should be the point of defense for the bulls.

Can't help but think they run up /NQ one more time as there was a mention of a lot of liquidity right at 15000

infinity ag said:

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The analysts will now fall over themselves to upgrade and show a rosy picture now that stocks have fallen a lot. They have all bought on the dip, so pump it up!

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Good, markets rocking again.

I didn't buy or sell, next time I need to utilize these dips.