Today. Dude an April 5520 SPX call is probably $25K

Irish 2.0 said:

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I sold the NVDA 2/18 250C at 11. I don't like how slow NVDA is to participate in the rest of this market move. Will revisit it on dips.

Still have the 5/20 275C

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been adding to my NVDA position every dip the last month

If the ticker is above 12.50 on expiration, you pocket the premium that you sold. If it's under 12.50 on expiration you get assigned 100 shares for each put sold. Your effective entry will be 12.50 minus the premium you sold.

Examples:

• Sell a 3/18 12.5p for $1.25. As long as the ticker is above 12.50 at expiration, you pocket the $125
• Sell a 3/18 12.5p for $1.25. If the ticker is at $11 at expiration (or anywhere under 12.50) you get assigned 100 shares. Your effective entry would be $11.25.

Keep in mind that selling puts will affect your buying power (as you have to have the $$ to buy the equity if assigned)

LMCane said:

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Irish 2.0 said:

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I sold the NVDA 2/18 250C at 11. I don't like how slow NVDA is to participate in the rest of this market move. Will revisit it on dips.

Still have the 5/20 275C

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been adding to my NVDA position every dip the last month

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That's fine. Don't blame you. But with options it is a different story

Be careful up here. Take profits on anything you might have green. Definitely looking like a lower high and lower low finish on the QQQ. Needs 362 close to get me bullish. That would reclaim the 5 and give us a higher high

Legged into some XSP Iron Condors so as long as we finish >450.3 or <454.7 I did OK on that one.

Going in on a quick scalp for today to end with a few bucks maybe:

2/4 SPY $454C only 1 since it is likely lost money but these end of Friday runs seem to come out of nowhere.

AMD trying to break through $124

Irish 2.0 said:

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Be careful up here. Take profits on anything you might have green. Definitely looking like a lower high and lower low finish on the QQQ. Needs 362 close to get me bullish. That would reclaim the 5 and give us a higher high

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To add to this, SPY is putting a lower high and lower low for the third straight day today.

BrokeAssAggie said:

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AMD trying to break through $124

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My 2/18 125 calls just went green in my account.

I love the weekly candle we're about to complete, feels like we're on track to follow through with engulfruary, so i grabbed a couple 3/2 474/476 spy call spreads for .2

VIX is about to dump, if that happens, rocket ship power hour!

McInnis 03 said:

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McInnis 03 said:

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I may have found the setup you can literally make your trading career on if you get good at stop placement.

Futures.
Woodies Daily Pivot is the key.

If approaching the daily pivot from above, go long a tick or two above the pivot for that day, set your stop according to your rules, and take profits according to your rules. THere is often a 4-10pt bounce off said pivot.

The rule is inverse for approaching from below. Go short a tick or two below the pivot for that day, then stops/profits according to your rules.

We don't hit the daily pivot each day on ES, so some days no trade.....but overall, pts would be racked in.

May have to switch my style.

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The play presented itself today and would have worked for anywhere from 0-8 pts depending...



NQ could have worked too depending on how aggressive the stops were placed.

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I like it

I would suggest against this play on equities. The value in the futures contracts is the defined gain per point. I guess if you're slinging a TON of cash around you could short PYPL at the pivot and hope to gain a few pennies on the trade.....thereby if you moved enough shares you could make some hay.

But on futures, if you trade the ES contract, and you get 5 pts, that's $250 per contract. MES contract would be $25 per contract. NQ would target maybe 20 pts, for $400 on the big boy contract, and $40 on a MNQ contract.

I think you see where I'm going here. It's not an equity play IMO.

thanks

BREwmaster said:

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VIX is about to dump, if that happens, rocket ship power hour!

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F yeah! I was long a bunch of QQQ calls, closed out around 361, Whoop!

Devin Nunes talking Truth Social. Sounds like launch will be end of March rather than Presidents' Day. Maybe explains why March 110 calls were being bought

https://rumble.com/vu1n62-coming-soon-devin-nunes-gives-an-update-on-truth-social.html

SNAP gonna break 40, unreal.

Spoony Love said:

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Going in on a quick scalp for today to end with a few bucks maybe:

2/4 SPY $454C only 1 since it is likely lost money but these end of Friday runs seem to come out of nowhere.

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Followed on this for 300%, stopped out earlier.

Kinda want to do something with BTC candle....looking at COIN and MSTR.

COIN earnings 2/25....I think 2/18 COIN calls could be interesting here with potential gap up on Monday

McInnis 03 said:

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I would suggest against this play on equities. The value in the futures contracts is the defined gain per point. I guess if you're slinging a TON of cash around you could short PYPL at the pivot and hope to gain a few pennies on the trade.....thereby if you moved enough shares you could make some hay.

But on futures, if you trade the ES contract, and you get 5 pts, that's $250 per contract. MES contract would be $25 per contract. NQ would target maybe 20 pts, for $400 on the big boy contract, and $40 on a MNQ contract.

I think you see where I'm going here. It's not an equity play IMO.

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Can you play it with SPY and QQQ? Strong correlation there or futures only?

McInnis 03 said:

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McInnis 03 said:

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I may have found the setup you can literally make your trading career on if you get good at stop placement.

Futures.
Woodies Daily Pivot is the key.

If approaching the daily pivot from above, go long a tick or two above the pivot for that day, set your stop according to your rules, and take profits according to your rules. THere is often a 4-10pt bounce off said pivot.

The rule is inverse for approaching from below. Go short a tick or two below the pivot for that day, then stops/profits according to your rules.

We don't hit the daily pivot each day on ES, so some days no trade.....but overall, pts would be racked in.

May have to switch my style.

---

The play presented itself today and would have worked for anywhere from 0-8 pts depending...



NQ could have worked too depending on how aggressive the stops were placed.

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Presented again. I'm not sure I'd take this play at end of day, but it worked here.

These are some super duper low TRIN numbers, makes me wonder if the play is puts over the weekend....or just stay flat.

McInnis 03 said:

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These are some super duper low TRIN numbers, makes me wonder if the play is puts over the weekend....or just stay flat.

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Closes below .6 is bearish next day 80% of the time (Carter).

McInnis 03 said:

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McInnis 03 said:

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McInnis 03 said:

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I may have found the setup you can literally make your trading career on if you get good at stop placement.

Futures.
Woodies Daily Pivot is the key.

If approaching the daily pivot from above, go long a tick or two above the pivot for that day, set your stop according to your rules, and take profits according to your rules. THere is often a 4-10pt bounce off said pivot.

The rule is inverse for approaching from below. Go short a tick or two below the pivot for that day, then stops/profits according to your rules.

We don't hit the daily pivot each day on ES, so some days no trade.....but overall, pts would be racked in.

May have to switch my style.

---

The play presented itself today and would have worked for anywhere from 0-8 pts depending...



NQ could have worked too depending on how aggressive the stops were placed.

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Presented again. I'm not sure I'd take this play at end of day, but it worked here.

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made a little beer & cigarette money

$30,000 Millionaire said:

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What a puke!!

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THey freaking pinned it at SPX 4500, because of course they did. I'm getting .06 on my 450/452 XSP verticals lol

ES-F looked like it was gonna bust out of this megaphone but it just faked out. now we're back inside it...maybe not a good omen