How does something like this happen? Just a fat-finger?
Stock Markets
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Last: 4 hrs ago by Heineken-Ashi
Honestly, I'm not sure, but likely so. I don't think most brokers will let you place a market order in extended hours for this exact reason. All I know is someone is extremely happy right now and someone is really really bummed.
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Charismatic Megafauna
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Maybe Elon has a couple thousand shares of Brk.A and saw that if he slapped the ask a few times he could tear down that wall and bump up his net worth
Charismatic Megafauna
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And there's your fda approval...
Waiting for articles about Berkshire Hathaway being too volatile and you should hold more crypto to balance it out
I am so so so damn bad at risk management. My day job doesn't help, but I truly suck at it and am making the same mistakes over and over again.
At some point I will figure this out, but it wasn't today.
At some point I will figure this out, but it wasn't today.
It really looks like the SPY is set to reverse. I have no idea if it will do so tomorrow or not, but there have basically been two doji's in the last 3 days, and it looks like it's having a hard time to run any higher. Certainly the low volume isn't helping, either.
It's not an exact replica by any means, but AAPL had a similar chart pattern immediately before it peaked in early September followed by its drop.
So hard to predict these responses to earnings, but I know the Apple store near our house is 2-3 weeks back ordered on phones. One of my patients works for GM, and there is real talk of either closing the plant in Arlington for the rest of the year, and they have already eliminated their overtime. There are hardly any chips for the Yukons/Escalades/Tahoe's, etc.
It's not an exact replica by any means, but AAPL had a similar chart pattern immediately before it peaked in early September followed by its drop.
So hard to predict these responses to earnings, but I know the Apple store near our house is 2-3 weeks back ordered on phones. One of my patients works for GM, and there is real talk of either closing the plant in Arlington for the rest of the year, and they have already eliminated their overtime. There are hardly any chips for the Yukons/Escalades/Tahoe's, etc.
What happened
Let a swing on options go from up 100% to down 27%.Dan Scott said:
What happened
I mean it's so easy to see how stupid that is, but can't execute it. Day job keeps me away at the opening bell so I need to just stop over nighting anything
I miscalculated the continuation strength. Dumb.
It hit my 2 target prices too and I didn't sell any of it.
My biggest problem is my account is tiny but I don't trade it like it is. I need to sell quicker and more often. I hold things too long all the damn time FOMO'ing on the bigger move. 100% is a big freakin move.
We f you have a winner option and time left you can sell the stock short pre market to lock In the profit. Buy to cover on a pull back and let the option ride.
irish pete ag06 said:Let a swing on options go from up 100% to down 27%.Dan Scott said:
What happened
I mean it's so easy to see how stupid that is, but can't execute it. Day job keeps me away at the opening bell so I need to just stop over righting anything
I miscalculated the continuation strength. Dumb.
It hit my 2 target prices too and I didn't sell any of it.
My biggest problem is my account is tiny but I don't trade it like it is. I need to sell quicker and more often. I hold things too long all the damn time FOMO'ing on the bigger move. 100% is a big freakin move.
I had the same issue and after many years and many thousands lost watching gains turn into losses, I finally got it into my head that no single trade is going to make me rich. I used to do stupid stuff like be up 100% but not be happy because I want 500% or enough to make up prior losses. And when I'm at work and without my trading platform, I used to hold a position where I have a huge gain, go to a meeting where I won't have access only to come back from the meeting and it's gone.
On options I'm now always quick to take profits. I've left money on the table too but I've learned the feeling in my stomach sucks way more watching gains turn to losses than selling too early. The market is open almost everyday and there will be other opportunities.
We tried to order a Tahoe High Country package, back in the summer.BaylorSpineGuy said:
It really looks like the SPY is set to reverse. I have no idea if it will do so tomorrow or not, but there have basically been two doji's in the last 3 days, and it looks like it's having a hard time to run any higher. Certainly the low volume isn't helping, either.
It's not an exact replica by any means, but AAPL had a similar chart pattern immediately before it peaked in early September followed by its drop.
So hard to predict these responses to earnings, but I know the Apple store near our house is 2-3 weeks back ordered on phones. One of my patients works for GM, and there is real talk of either closing the plant in Arlington for the rest of the year, and they have already eliminated their overtime. There are hardly any chips for the Yukons/Escalades/Tahoe's, etc.
Couldn't even put in an order for it. As of yesterday, they still can't put in an order for one.
We've now put down a deposit on a Yukon AT4 (we wanted a 4wd after the snow and ice of last year trapping us in our house). There were no Denalis coming in 4WD, but we were about to claim an AT4. The order for that is in and it's supposed to be here around New Years. Unfortunately, with the chip shortage it will be missing the auto start / stop feature (and that's sarcasm on that one, btw).
Generac is a similar story. We have put a deposit down on a whole home generator, and they're telling us 9-12 months to get one installed (we ordered in August).
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NRD09 said:
And there's your fda approval...
Que pasa?
yeah... I left like 30k on the table yesterday from TSLA. but I've made too many of those same mistakes lately holding on too long to trades or getting busy with work and not following stuff closely enough. so I'm fine with what I lost out on. because I still banked 5 figures after all
This sounds like something my future self will hopefully say as well. I have to just get out of trades quicker! I hold way too long all the time.Dan Scott said:irish pete ag06 said:Let a swing on options go from up 100% to down 27%.Dan Scott said:
What happened
I mean it's so easy to see how stupid that is, but can't execute it. Day job keeps me away at the opening bell so I need to just stop over righting anything
I miscalculated the continuation strength. Dumb.
It hit my 2 target prices too and I didn't sell any of it.
My biggest problem is my account is tiny but I don't trade it like it is. I need to sell quicker and more often. I hold things too long all the damn time FOMO'ing on the bigger move. 100% is a big freakin move.
I had the same issue and after many years and many thousands lost watching gains turn into losses, I finally got it into my head that no single trade is going to make me rich. I used to do stupid stuff like be up 100% but not be happy because I want 500% or enough to make up prior losses. And when I'm at work and without my trading platform, I used to hold a position where I have a huge gain, go to a meeting where I won't have access only to come back from the meeting and it's gone.
On options I'm now always quick to take profits. I've left money on the table too but I've learned the feeling in my stomach sucks way more watching gains turn to losses than selling too early. The market is open almost everyday and there will be other opportunities.
Take profits
Cut a small loss.
But not just holding and holding.
BaylorSpineGuy said:
It really looks like the SPY is set to reverse. I have no idea if it will do so tomorrow or not, but there have basically been two doji's in the last 3 days, and it looks like it's having a hard time to run any higher. Certainly the low volume isn't helping, either.
It's not an exact replica by any means, but AAPL had a similar chart pattern immediately before it peaked in early September followed by its drop.
So hard to predict these responses to earnings, but I know the Apple store near our house is 2-3 weeks back ordered on phones. One of my patients works for GM, and there is real talk of either closing the plant in Arlington for the rest of the year, and they have already eliminated their overtime. There are hardly any chips for the Yukons/Escalades/Tahoe's, etc.
This Christmas will be rough. I went to Men's Warehouse and Macy's this past weekend for my annual clothes shopping and they have no inventory. Without inventory I'm not sure we see many great Black Friday deals this year so people will be Christmas shopping but not buying for themselves. That's going to hurt retail and I think tech which makes their money off advertising will be hurt because if you have no inventory what are you going to advertise. I can't remember the last time I've seen a car commercial.
One strategy that has helped me with options is rolling them instead of cashing out. That way you can take profits and still have a position if it continues to run.irish pete ag06 said:Let a swing on options go from up 100% to down 27%.Dan Scott said:
What happened
I mean it's so easy to see how stupid that is, but can't execute it. Day job keeps me away at the opening bell so I need to just stop over nighting anything
I miscalculated the continuation strength. Dumb.
It hit my 2 target prices too and I didn't sell any of it.
My biggest problem is my account is tiny but I don't trade it like it is. I need to sell quicker and more often. I hold things too long all the damn time FOMO'ing on the bigger move. 100% is a big freakin move.
ie, you have a call option that is up 100%, you can roll up to a higher strike at the same exp and take some profits out. If it keeps running, your higher strike call will give you more profit. If it tanks, you only lost some of the profit because you've already cashed out a good amount.
BTFD
Yeah. Another strategy I may try in the future. Sadly the broker I use for options at the moment (Webull) doesn't do rolling. I'm considering switching back to ToS. I have to do most of the execution on my phone. I typically keep trading view open on my laptop at work.Triple_Bagger said:One strategy that has helped me with options is rolling them instead of cashing out. That way you can take profits and still have a position if it continues to run.irish pete ag06 said:Let a swing on options go from up 100% to down 27%.Dan Scott said:
What happened
I mean it's so easy to see how stupid that is, but can't execute it. Day job keeps me away at the opening bell so I need to just stop over nighting anything
I miscalculated the continuation strength. Dumb.
It hit my 2 target prices too and I didn't sell any of it.
My biggest problem is my account is tiny but I don't trade it like it is. I need to sell quicker and more often. I hold things too long all the damn time FOMO'ing on the bigger move. 100% is a big freakin move.
ie, you have a call option that is up 100%, you can roll up to a higher strike at the same exp and take some profits out. If it keeps running, your higher strike call will give you more profit. If it tanks, you only lost some of the profit because you've already cashed out a good amount.
You can do the roll manually if your broker doesn't offer the service. Sell your call and buy the higher strike call with profits.
BTFD
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You can also set a gtc sell order for 20% or 50% or 100% or whatever you're comfortable with when you buy the calls, or if you know you're not going to be able to watch them for a while. It's shocking how often i catch hod when i do that
Very true but was broken tonight during World Series with the Z06 introduction. Crazy when you think about the lack of car and truck ads that typically dominate TV.Dan Scott said:BaylorSpineGuy said:
It really looks like the SPY is set to reverse. I have no idea if it will do so tomorrow or not, but there have basically been two doji's in the last 3 days, and it looks like it's having a hard time to run any higher. Certainly the low volume isn't helping, either.
It's not an exact replica by any means, but AAPL had a similar chart pattern immediately before it peaked in early September followed by its drop.
So hard to predict these responses to earnings, but I know the Apple store near our house is 2-3 weeks back ordered on phones. One of my patients works for GM, and there is real talk of either closing the plant in Arlington for the rest of the year, and they have already eliminated their overtime. There are hardly any chips for the Yukons/Escalades/Tahoe's, etc.
This Christmas will be rough. I went to Men's Warehouse and Macy's this past weekend for my annual clothes shopping and they have no inventory. Without inventory I'm not sure we see many great Black Friday deals this year so people will be Christmas shopping but not buying for themselves. That's going to hurt retail and I think tech which makes their money off advertising will be hurt because if you have no inventory what are you going to advertise. I can't remember the last time I've seen a car commercial.
Charismatic Megafauna
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Red Rover said:NRD09 said:
And there's your fda approval...
Que pasa?
https://www.reuters.com/business/healthcare-pharmaceuticals/us-fda-advisers-weigh-pfizerbiontech-covid-19-vaccine-children-2021-10-26/
Rest assured it will pull back a smidge November 2nd and 3rd due to fomc. Not sure we've had anything but red days preceding fomc press conference the last 6 months
Oh good! I'm currently bag holding a 97% loss on a 11/05/21 SPY 425P I bought when the SPY touched 427. I got busy at work and came back to being way down. I figured it would be a one or two day run then go back down. Fast forward two weeks to the longest green SPY run I can recall lol.
If this thing gets back even halfway, I can exit with a little green. Fingers crossed.
I will say this: the disparity between what the market is doing and people are dealing with (high gas prices, shortages of goods, poor employment numbers, high inflation, etc.) is rather appalling. It's like the market is entirely ignoring the pain people are starting to feel. How much longer can this go? I make good money in my job, and we are starting to feel it some.
If this thing gets back even halfway, I can exit with a little green. Fingers crossed.
I will say this: the disparity between what the market is doing and people are dealing with (high gas prices, shortages of goods, poor employment numbers, high inflation, etc.) is rather appalling. It's like the market is entirely ignoring the pain people are starting to feel. How much longer can this go? I make good money in my job, and we are starting to feel it some.
No time to even look at the market. Hope you guys are killing it.
This is just friendly advice. If you can't actively watch your trades then you shouldn't ever trade options, especially short term options. Hell, FJ traded, and posted them, all the time but he was in front of his monitor. He's on a project now that takes him away from his computer and he doesn't post option trades because I suspect he's not in them. I trade some options but don't post the trades because options are dangerous. Yes you may hit a home run, but the odds are you'll blow up your account and no one here wants that.irish pete ag06 said:This sounds like something my future self will hopefully say as well. I have to just get out of trades quicker! I hold way too long all the time.Dan Scott said:irish pete ag06 said:Let a swing on options go from up 100% to down 27%.Dan Scott said:
What happened
I mean it's so easy to see how stupid that is, but can't execute it. Day job keeps me away at the opening bell so I need to just stop over righting anything
I miscalculated the continuation strength. Dumb.
It hit my 2 target prices too and I didn't sell any of it.
My biggest problem is my account is tiny but I don't trade it like it is. I need to sell quicker and more often. I hold things too long all the damn time FOMO'ing on the bigger move. 100% is a big freakin move.
I had the same issue and after many years and many thousands lost watching gains turn into losses, I finally got it into my head that no single trade is going to make me rich. I used to do stupid stuff like be up 100% but not be happy because I want 500% or enough to make up prior losses. And when I'm at work and without my trading platform, I used to hold a position where I have a huge gain, go to a meeting where I won't have access only to come back from the meeting and it's gone.
On options I'm now always quick to take profits. I've left money on the table too but I've learned the feeling in my stomach sucks way more watching gains turn to losses than selling too early. The market is open almost everyday and there will be other opportunities.
Take profits
Cut a small loss.
But not just holding and holding.
I agree with Doc, this market is overextended. You had some heavy hitters reporting after the close, yet the market was weak into the close. That's a red flag and if they can't propel the market higher, then we'll probably go lower and consolidate. Everyday takes us closer to the November fed meeting that they've given every indication that they'll start to remove stimulus. Don't lose your focus and don't try to make up some losses with options, that's gambling, not trading and you'll probably lose. I'm not lecturing, I just don't want anyone here to make the mistakes I have in my past and blow their accounts up.
I agree. I'll also add that nearly every option trade I've taken has been green at some point. Sometimes big green. I just tend to over hold. I need to be perfectly ok with 10%, 30%, or even freakin 100%! Take the profits and move on or cut it and move on. I am able to watch closely from about 8:40 to 11:15. I need to close out all trades or set hard stop losses before 11:15 each day.ProgN said:This is just friendly advice. If you can't actively watch your trades then you shouldn't ever trade options, especially short term options. Hell, FJ traded, and posted them, all the time but he was in front of his monitor. He's on a project now that takes him away from his computer and he doesn't post option trades because I suspect he's not in them. I trade some options but don't post the trades because options are dangerous. Yes you may hit a home run, but the odds are you'll blow up your account and no one here wants that.irish pete ag06 said:This sounds like something my future self will hopefully say as well. I have to just get out of trades quicker! I hold way too long all the time.Dan Scott said:irish pete ag06 said:Let a swing on options go from up 100% to down 27%.Dan Scott said:
What happened
I mean it's so easy to see how stupid that is, but can't execute it. Day job keeps me away at the opening bell so I need to just stop over righting anything
I miscalculated the continuation strength. Dumb.
It hit my 2 target prices too and I didn't sell any of it.
My biggest problem is my account is tiny but I don't trade it like it is. I need to sell quicker and more often. I hold things too long all the damn time FOMO'ing on the bigger move. 100% is a big freakin move.
I had the same issue and after many years and many thousands lost watching gains turn into losses, I finally got it into my head that no single trade is going to make me rich. I used to do stupid stuff like be up 100% but not be happy because I want 500% or enough to make up prior losses. And when I'm at work and without my trading platform, I used to hold a position where I have a huge gain, go to a meeting where I won't have access only to come back from the meeting and it's gone.
On options I'm now always quick to take profits. I've left money on the table too but I've learned the feeling in my stomach sucks way more watching gains turn to losses than selling too early. The market is open almost everyday and there will be other opportunities.
Take profits
Cut a small loss.
But not just holding and holding.
I agree with Doc, this market is overextended. You had some heavy hitters reporting after the close, yet the market was weak into the close. That's a red flag and if they can't propel the market higher, then we'll probably go lower and consolidate. Everyday takes us closer to the November fed meeting that they've given every indication that they'll start to remove stimulus. Don't lose your focus and don't try to make up some losses with options, that's gambling, not trading and you'll probably lose. I'm not lecturing, I just don't want anyone here to make the mistakes I have in my past and blow their accounts up.
Such a good post !!! I have been so distracted the last 2 months with outside issues that I haven't been able to focus on my PA and have seen many trades go from boom to bust or to worse to dust…..I've been on the road fundraising and have to say that we have seen a real concern from investors and potential investors on direction of market and for our ability to invest in both their "constraints" and to actually beat the S&P…while we have several desks and mine is not quite as correlated to normal markets it has been very difficult to deploy capital in any meaningful strategies….I know Baylor asked who I work for and while I can't tell you that I have been able to get from my partners the ability to post our morning commentary here….i do have to be selective on answering questions but will always do my best…. Good luck trading boys…. Great group…
You also need to have a plan. And no, "AAPL might go up!" is not a plan. If you don't have a clear target that would trigger you to act on your options, what are you even doing? I see so many just jumping into things because it looks good. Nice setup. Flagging. Blah blah blah. So what? What's your target? What's your plan? If you can't answer that, don't trade.
Apologies for getting too personal here, but you also lost your mom literally weeks ago. I'm sure this is having some impact on your decision making. Maybe dial it back a little until you've recovered some emotionally.
Not sure it'll correct far enough to make a dent in that put. Your premium is getting crushed day over day. Being down that far you've got nothing left to lose so maybe hold for something significant. But I would've exited that trade when spy got above 436.
Also yes it's been tough to determine what the market reacts to. Some real world stuff the market freaks out about. Some it doesn't give a damn. Makes no sense.
October has been too busy for me to play options and I hate myself because so many great moves have happened. I'm in stocks and I've had a 12% month. Would've like to have some calls. Next time baby…
October has been too busy for me to play options and I hate myself because so many great moves have happened. I'm in stocks and I've had a 12% month. Would've like to have some calls. Next time baby…
Morning gents! Have had zero time to trade or keep up with the markets. Alerts are my friend at the moment.
Y'all keep it up and congrats on some great trades.
Y'all keep it up and congrats on some great trades.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
FJ43 said:
Morning gents! Have had zero time to trade or keep up with the markets. Alerts are my friend at the moment.
Y'all keep it up and congrats on some great trades.
You go back to work and start sleeping in now?
In the words of Leslie Nielsen….."I realize that……now."
Yeah, I should've exited that trade the following day, and regretting that, but I had had a few consecutive losses on trades, and losing a decent chunk of money in one day was a pain. Would rather go broke over 2 weeks. Also not a good answer.
Learned a big lesson. I am fairly confident the market is gonna go down the next couple days, but I can't be speculating. I can read a chart decently well, but it's really a dice roll in my mind, and I don't do this full time, so I'm not gonna trade the SPY.
I do enjoy the camaraderie here on this board. AustinAg…thanks for whatever info you can divulge. Sounds like you have a great job. Have a great day, everyone.
Yeah, I should've exited that trade the following day, and regretting that, but I had had a few consecutive losses on trades, and losing a decent chunk of money in one day was a pain. Would rather go broke over 2 weeks. Also not a good answer.
Learned a big lesson. I am fairly confident the market is gonna go down the next couple days, but I can't be speculating. I can read a chart decently well, but it's really a dice roll in my mind, and I don't do this full time, so I'm not gonna trade the SPY.
I do enjoy the camaraderie here on this board. AustinAg…thanks for whatever info you can divulge. Sounds like you have a great job. Have a great day, everyone.