It has been down but had a pretty big jump this morning. I also read a note about possible sanctions against Rusal which would have a huge impact.

That's me with AAPL right now except mine were expiring October 7. Lost $1,000 and would be up right now. I always hate looking back at certain stocks if I would've stayed in.

Tried some trading while on a plane to Vegas this morning. Trading on my phone and was reading price only and not able to quickly follow candles. Was up almost $1400 at one point but settled to close up several hundred.

Oh well, with a break 360.50, will run it back.

Even though this is bouncing I am not considering going long. I think I need to see 3680 clear first.

Oof on this.

If you ever follow Harry wangs trades, I would treat them as lottos and I would set a target exit at 100%

PLTR showing relative strength

yeah curving hard downward, I'll add more looks like it's near support from way back in 1990/ 1991 looking at a weekly chart. Crazy!

RIG flashing back down below $2.50, I think we see $3 before November. Feels like a relatively safer knife catch than everything else out there.

In

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— TradeWithAlerts (@TradeWithAlerts) September 29, 2022

$30,000 Millionaire said:

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If you ever follow Harry wangs trades, I would treat them as lottos and I would set a target exit at 100%

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Agreed. He missed big on his ones this morning so far

I muted him. I was too eager to copy trade him. So removed the temptation.

Paying off today.

irish pete ag06 said:

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I muted him. I was too eager to copy trade him. So removed the temptation.

Paying off today.

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Today was the first time I've ever copy traded him.

Of course it would be…

Would be careful here -- pretty ugly bear flag on SPX intraday

All these fools who got long just now.

Outside of cutting TQQQ... I bounce played a call for 10%. Other than that I'm following 30k's orders.

Intraday H&S. Follow through should take us back to morning lows. Curious if it holds this time….

Questions on my AMD play using OA's method, although my option dates may have been too far apart.

9/23 bought AMD at $67
9/26 bought AMD 9/30 $67 puts on 100% for $1.50, sold 11/18 $75 calls on 50% for $3.35

Would anybody do anything different besides exercising the puts, with the pretty safe assumption it stays below $67 through tomorrow?

It's at -3 ATR and under 30 RSI, so it is tempting to sell the puts and hold because it's in a good position for a little bounce (theoretically), but those are about the metrics where I originally bought, except it was $3 higher.

If I exercise the puts, is my selling price $67, or $65.50, and thus a loss requiring me to wait 30 days to avoid the wash-sale rule if I wanted to purchase it lower again?

You bringing up the covered call ETFs reminds me of this guy...

https://www.reddit.com/r/dividends/comments/nn0569/why_would_i_not_max_out_leverage_on_qyld/

Edit to say, that's not even the same thread I read a long time ago. That was just from a quick google search. The one I read a while back had done tons of math and didn't see how he would every be margin called.

I'm sayin the dude has been margin called at this point.

Another option is to roll the puts down to $64 or $63 at the same expiry, maybe for all puts or maybe just for the puts covered by calls. Remember that if your puts exercise you'll have naked sold calls outstanding.

You could take the premium profits and hope it stays above your store or moves up. You could also look into buying back all or a portion of those calls if they've gotten cheap enough.

We could close below 3610 with a 35XX handle

200MA on SPY the weekly is around 358.

Watch for funny business around the 360.50-361 area. Been pretty tough place to break last few days. Imagine it's weak now but let's see.

Calls are right at $2 now, so not real close to breaking even on the whole play if I buy them back. I figured if I exercised the options, I could always buy the stock back later on under $75 if it moves up quickly and looks like the naked calls would have a good chance to be exercised.

By exercising the puts, I should break even at worst, so it seems like the safest, smartest play for capital preservation. If I had to buy back later on, I could look back into buying puts and selling calls on the other 50% so I'm 100% covered both directions.

Feels like in the current environment I should exercise and see what the market does in the next couple of weeks. This would be the first time I ever actually exercised an option if I do.