Going on SPY 10/8 447C @ .15

Highly unusual opening order. Wish me luck.

Shorted MES at 4418.25....Stop Loss 4420.25......promptly hit 4420.5 and then dropped 6 damn points.

If it weren't for bad luck, I'd have no luck.

BlueTaze said:

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Philip J Fry said:

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Anyone who owns CEI probably needs therapy. This is crazy

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I'm scalping long, but I certainly wouldn't put too much trust in a CEO that says he thinks "short selling should be illegal", in his prepared response. On the other hand, Kerrisdale also has some pretty amateurish content in their short report.

I think $CEI sees $4 again, if for nothing other than Zack's powerful brand. The pump is worth it here, to keep his(their) other plays aflot IMO.

pic.twitter.com/K7U0TfabMT

— Camber Energy, Inc. (@Camber_Energy) October 6, 2021

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If you are one of those that bought yesterday at .85-90 congrats! Its a double here already. Selling premium alone is solid.

As someone who did end up doing a couple of buy/writes, I hope it closes at $1.99 on 10/15 before continuing the rocket back to $4!

One thing I never forget…..convictions matter. Just look at my account if you don't believe me haha!

I come back to one of the early options trades I tried the week before OpEx in August. I was on vacation in Seaside and watching stocks closely.

I had followed the chart on Polaris (PII) so closely, and it was in a clear H&S pattern. It was a lock to go to $123, I was just certain. After it completed the right shoulder, I was waiting for my money….and then it bounced! I couldn't believe it. The pattern was broken and it came above the high of the right shoulder. I exited my trade for a loss (with 8 days to go on expiration), to save some money and eat a small loss.

Well, after it hit $136 (above the ~$134 right shoulder I sold around this time), it nose dived hard and fell to $123 by Friday of OpEx. If I had held, it would've been a 3-4 bagger.

I sorta feel that way about SPY right now. All logic says we should be going down. There is no true positive economic news to come. We are all suffering the effects of inflation. We have an out of touch political class, supply chain issues, gas and oil problems on the horizon, etc.

So why does the SPY go up? Because I bought puts….that's why.

Polaris eventually fell to $119, and the company is still not out of the funk. I had the diagnosis right, and I had the treatment right. I simply didn't hold to my conviction.

I'm kinda depressed cause I really like the action of stock trading, finding the stock moves, buying and selling, etc. it's enthralling. I'm simply not very good. And my patients need me more than my account needs me. I'm gonna keep coming here cause I appreciate all of you and your knowledge, etc. I think I'm gonna go the "8 great companies route" and buy-never sell philosophy. Not much fun but better than I can do at this.

My last ever options trade (at least for the foreseeable future) was a 425 SPY put dated Nov 5. I bought yesterday. It's money I'm resolved to lose. My conviction is that this economy is crap, my dollar is worth crap, and people are suffering economically. That doesn't go away with an SPY bounce to 441.

Here's to boomer stocks and a boring life! Cheers!!

BaylorSpineGuy said:

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One thing I never forget…..convictions matter. Just look at my account if you don't believe me haha!

I come back to one of the early options trades I tried the week before OpEx in August. I was on vacation in Seaside and watching stocks closely.

I had followed the chart on Polaris (PII) so closely, and it was in a clear H&S pattern. It was a lock to go to $123, I was just certain. After it completed the right shoulder, I was waiting for my money….and then it bounced! I couldn't believe it. The pattern was broken and it came above the high of the right shoulder. I exited my trade for a loss (with 8 days to go on expiration), to save some money and eat a small loss.

Well, after it hit $136 (above the ~$134 right shoulder I sold around this time), it nose dived hard and fell to $123 by Friday of OpEx. If I had held, it would've been a 3-4 bagger.

I sorta feel that way about SPY right now. All logic says we should be going down. There is no true positive economic news to come. We are all suffering the effects of inflation. We have an out of touch political class, supply chain issues, gas and oil problems on the horizon, etc.

So why does the SPY go up? Because I bought puts….that's why.

Polaris eventually fell to $119, and the company is still not out of the funk. I had the diagnosis right, and I had the treatment right. I simply didn't hold to my conviction.

I'm kinda depressed cause I really like the action of stock trading, finding the stock moves, buying and selling, etc. it's enthralling. I'm simply not very good. And my patients need me more than my account needs me. I'm gonna keep coming here cause I appreciate all of you and your knowledge, etc. I think I'm gonna go the "8 great companies route" and buy-never sell philosophy. Not much fun but better than I can do at this.

My last ever options trade (at least for the foreseeable future) was a 425 SPY put dated Nov 5. I bought yesterday. It's money I'm resolved to lose. My conviction is that this economy is crap, my dollar is worth crap, and people are suffering economically. That doesn't go away with an SPY bounce to 441.

Here's to boomer stocks and a boring life! Cheers!!

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Been there done that, you'll be back haha

BaylorSpineGuy said:

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One thing I never forget…..convictions matter. Just look at my account if you don't believe me haha!

I come back to one of the early options trades I tried the week before OpEx in August. I was on vacation in Seaside and watching stocks closely.

I had followed the chart on Polaris (PII) so closely, and it was in a clear H&S pattern. It was a lock to go to $123, I was just certain. After it completed the right shoulder, I was waiting for my money….and then it bounced! I couldn't believe it. The pattern was broken and it came above the high of the right shoulder. I exited my trade for a loss (with 8 days to go on expiration), to save some money and eat a small loss.

Well, after it hit $136 (above the ~$134 right shoulder I sold around this time), it nose dived hard and fell to $123 by Friday of OpEx. If I had held, it would've been a 3-4 bagger.

I sorta feel that way about SPY right now. All logic says we should be going down. There is no true positive economic news to come. We are all suffering the effects of inflation. We have an out of touch political class, supply chain issues, gas and oil problems on the horizon, etc.

So why does the SPY go up? Because I bought puts….that's why.

Polaris eventually fell to $119, and the company is still not out of the funk. I had the diagnosis right, and I had the treatment right. I simply didn't hold to my conviction.

I'm kinda depressed cause I really like the action of stock trading, finding the stock moves, buying and selling, etc. it's enthralling. I'm simply not very good. And my patients need me more than my account needs me. I'm gonna keep coming here cause I appreciate all of you and your knowledge, etc. I think I'm gonna go the "8 great companies route" and buy-never sell philosophy. Not much fun but better than I can do at this.

My last ever options trade (at least for the foreseeable future) was a 425 SPY put dated Nov 5. I bought yesterday. It's money I'm resolved to lose. My conviction is that this economy is crap, my dollar is worth crap, and people are suffering economically. That doesn't go away with an SPY bounce to 441.

Here's to boomer stocks and a boring life! Cheers!!

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Love your posts BSG and hope you aren't a stranger here.

Options especially weekly can be a challenging game.

Buy shares and sell premium against them. Work towards net free holdings to build your portfolio up. Be in tune for the mass accumulation plays here. Most have really very attractive returns over time.

Stay diligent with alerts as much as you can. They are your friend in this game.

Takes time and we have ALL had frustrating times as traders.

Keep your chin up and keep posting!

Closing Comment...Treasuries Going Out at Lows... Equities Given Back 1/3 Highs

Rumors of a higher employment report, and mortgage convexity selling on the edge of kicking in, has kept treasury prices lower and steeper all day... Inflation fears and the locking in of a tapering move coupled with strong employment report tomorrow has got the treasury market on edge...10 years is looking to close at recent lows of 1.57, but no further... It could hit 1.60 tonight but the real fireworks start at 8.31 tomorrow morning, with the fast money... The real money will come in about 9.15... We saw some large specs come in with a 1.55 strangle... Where they make money if 10 years close either below or above 1.50/1.60.

We said all week that 1.60 is when the convexity sellers come in... That is not an exact science and may be diluted given all the mortgages the Fed owns... But 1.60 and then 1.75 are in the cards...but as we approach 1.70, we think stocks will have a significant sell off which will mitigate the lower moves in treasuries...

on another matter... We checked on the Academy Securities webinar this afternoon... Led by numerous generals and a close friend... One of the generals made a point that we did not realize . " the labor costs of Mexico and China is the same... Mexico has two advantages... Cheaper shipping costs and steady power, as Mexico gets its power from the US...looks like the manufacturing is making its way back to North America

Ok gents...duty calls for me.....and seems to be ramping up more lately.

I have conference calls tomorrow beginning at 9:30 AM EST and going solid until a 12:00PM EST, so unfortunately no Lotto Friday for me. They literally begin at the open and end when I generally begin to go flat for the week.

I will try and post early AM some of the lotto possibilities though for you degenerates who play them.

FJ43 said:

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Ok gents...duty calls for me.....and seems to be ramping up more lately.

I have conference calls tomorrow beginning at 9:30 AM EST and going solid until a 12:00PM EST, so unfortunately no Lotto Friday for me. They literally begin at the open and end when I generally begin to go flat for the week.

I will try and post early AM some of the lotto possibilities though for you degenerates who play them.

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Wait... you have a REAL job?!?! I have been living in a house of lies.

bmoochie said:

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FJ43 said:

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Ok gents...duty calls for me.....and seems to be ramping up more lately.

I have conference calls tomorrow beginning at 9:30 AM EST and going solid until a 12:00PM EST, so unfortunately no Lotto Friday for me. They literally begin at the open and end when I generally begin to go flat for the week.

I will try and post early AM some of the lotto possibilities though for you degenerates who play them.

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Wait... you have a REAL job?!?! I have been living in a house of lies.

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LOL.....no not really. Pretty much shorts, fishing shirt, Chaco sandals, hat and lucky to shave most days.

I have been on a project back in aerospace defense for a few weeks. However, this may be growing into a potential opportunity with a VC group to rinse and repeat a bit on some M&A and a future equity liquidity event.

Might be too good to pass up so evaluating it at the moment.

SNDL with an acquisition. Looks good at first glance.

https://finance.yahoo.com/news/sundial-growers-acquire-alcanna-inc-220000676.html