Looks like algorithms driving us up this morning
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Last: 2 hrs ago by Heineken-Ashi
Well, missed that. Not chasing. Will wait for it to reset.
You don’t trade for money, you trade for freedom.
Ordered filled on AMD Jan '23 $70 calls for $2.25ea.
We still bullish on AMD?
We still bullish on AMD?
Bob Knights Paper Hands
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I got into some UPRO this morning. Small, but I'm hoping to ride this up.
I have a flies pinned at 3700 and 3800 for today's close as lottos. Other than that, I'm probably going to Case McCoy the market today.
I have a flies pinned at 3700 and 3800 for today's close as lottos. Other than that, I'm probably going to Case McCoy the market today.
Farmer @ Johnsongrass, TX
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XOM almost 6 million volume
65 Day Average is 19.38 million
Errr,...sumthin up?
Need to see $107 today and hold.
Maybe Warren decided to put a tiger in his tank..
65 Day Average is 19.38 million
Errr,...sumthin up?
Need to see $107 today and hold.
Maybe Warren decided to put a tiger in his tank..
Bob Knights Paper Hands
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ChemAg15 said:
Looks like algorithms driving us up this morning
Yep. I think OPEX related and not necessarily indication of anything longer than today's close. IMHO.
Bob Knights Paper Hands
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I wanted to sell a few SPX 3640P this morning, but occasionally Fidelity jacks with the account value on my trading account due to spreads I'm holding. Today that pulled it under the $50k requirement to sell naked puts. These opened around $14 and are already down to $2 now.
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Are we done flagging and about to push higher? SPX call premiums jumped a bit while price continued slowly crawling down.
I think we are about to see some Opex shenanigans
just some pre-election position softening with no real follow-through afterward?Bonfire1996 said:
Darn filter
Bob Knights Paper Hands
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Stopped out of UPRO as SPX broke below 20-ema. 1% profit is something.
If you have any SPY puts that are green for today, you may want to go ahead and think about cutting. Max pain is 373 and I would think we head back that way at some point.
Bought Jan '23 104C on TLT. Good volume. Filled at 1.62.
TLT gapped down and is trading up on large volume today.
TLT gapped down and is trading up on large volume today.
Market is so desperate for a pause or pivot, kiddies aren't used to a bear market that lasts more than a month.
Stupid question that I should know the answer to...
How does selling SPX or XSP calls/puts work since it's cash settled?
I have never sold anything uncovered before... was curious how these work uncovered.
How does selling SPX or XSP calls/puts work since it's cash settled?
I have never sold anything uncovered before... was curious how these work uncovered.
Sound advice, Friday opex - it could be super choppy.Spoony Love said:
If you have any SPY puts that are green for today, you may want to go ahead and think about cutting. Max pain is 373 and I would think we head back that way at some point.
Easy peasy boys and girls. Covered my steak dinner tonight.
You don’t trade for money, you trade for freedom.
$30,000 Millionaire said:
Easy peasy boys and girls. Covered my steak dinner tonight.
Guess you're not eating at the truck stop diner tonight.
SPY looking really similar to yesterday. Run up in the first hour then die off.
Everyone DOES see that huge Head & Shoulders on the macro markets I trust. Now do you think it holds and the pattern breaks OR did the pattern already signal last week and this is all just noise, retesting the neckline before breaking down?
BTW, as I type we have an intraday head and shoulder pattern just formed. Great to know if it follows with a breakdown to wipe out the move today or gets busted to upside.
Just wanted to weigh in with caution and if you're thinking a big rally off this neckline is coming, use calls vs shares. Keep your loss potential fixed and smaller for now.
BTW, as I type we have an intraday head and shoulder pattern just formed. Great to know if it follows with a breakdown to wipe out the move today or gets busted to upside.
Just wanted to weigh in with caution and if you're thinking a big rally off this neckline is coming, use calls vs shares. Keep your loss potential fixed and smaller for now.
oldarmy1 said:
Everyone DOES see that huge Head & Shoulders on the macro markets I trust. Now do you think it holds and the pattern breaks OR did the pattern already signal last week and this is all just noise, retesting the neckline before breaking down?
BTW, as I type we have an intraday head and shoulder pattern just formed. Great to know if it follows with a breakdown to wipe out the move today or gets busted to upside.
Just wanted to weigh in with caution and if you're thinking a big rally off this neckline is coming, use calls vs shares. Keep your loss potential fixed and smaller for now.
FGEN is having a day.
Just making certain.
And remember the rule of price. Big money does not want you buying at their levels. If a stock is sitting around and you think "these little ups and downs are fine for me to hold through, since I am in near lows" your red flag should be on high alert. They hate for you to use their wind in their sails. Seriously, they do.
And remember the rule of price. Big money does not want you buying at their levels. If a stock is sitting around and you think "these little ups and downs are fine for me to hold through, since I am in near lows" your red flag should be on high alert. They hate for you to use their wind in their sails. Seriously, they do.
Bob Knights Paper Hands
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Ag CPA said:
Market is so desperate for a pause or pivot, kiddies aren't used to a bear market that lasts more than a month.
I think it's the opposite. I think we've never had a bear market with so many participants with the ability and willingness to trade short, especially less experienced retail that may tend to trade more aggressively. The sentiment seems to stay pretty bearish, even during these little OPEX shenanigans or squeezes.
H&S into a Dreaded h. Where are the buyers if the market is so wonderfully valued? $SPY pic.twitter.com/cPqslvPQub
— Freedom Costs More Than Being Concerned... (@oldarmy1) October 21, 2022
SHENANIGANS
Farmer @ Johnsongrass, TX
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Anybody here in the camp that the 10 Year Treasury has the next (Nov 2) .75 rate hike priced in?
Farmer @ Johnsongrass, TX
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Next Friday, 10/28, is shaping up to be a great market!
Exxon will replace Gazprom in Europe. Book it.
Exxon will replace Gazprom in Europe. Book it.
Quote:
10/21 (Reuters) - Exxon Mobil Corp shares passed their all-time high on Friday as oil prices resumed their climb and analysts raised their long-term views of top U.S. oil producer's cash flow and earnings outlook.
Exxon is leading a parade of record profits among oil majors this year after doubling down on oil during the pandemic, when energy prices fell to a two-decade low and European oil majors slashed spending and moved further to renewable projects.
The stock hit $105.95 early Friday, above the prior record high close of $104.59 from June 8.
The rally comes as vindication for Chief Executive Darren Woods, who as oil prices fell in 2020 decided to "lean in" to oil investments. Exxon, he said then, would not engage in a "beauty match" with its peers pursuing solar and wind." "Exxon shares are up more than 70% to date this year, ahead of the market gains by competitors Shell PLC, BP PLC, and U.S. oil major Chevron Corp." "Next week, Exxon could post another strong quarter on high natural gas prices, putting it on track for a record annual profit this year of $54.80 billion, according to IBES Refinitiv, more than its cumulative earnings since 2018."
Don't get caught here. Max pain is a real thing, until it's not.
What's max pain, the high point before the fall?
Max pain is the strike price with the most open options contracts (puts/calls), and it is the price at which the stock would cause financial losses for the largest number of option holders at expiration.
https://www.investopedia.com/terms/m/maxpain.asp#:~:text=Investopedia%20%2F%20Michela%20Buttignol-,What%20Is%20Max%20Pain%3F,of%20option%20holders%20at%20expiration.
https://www.investopedia.com/terms/m/maxpain.asp#:~:text=Investopedia%20%2F%20Michela%20Buttignol-,What%20Is%20Max%20Pain%3F,of%20option%20holders%20at%20expiration.
TSLA 215c 10/21 .15 > .60
risked it for the biscuit.
risked it for the biscuit.
Bob Knights Paper Hands
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irish pete ag06 said:
Stupid question that I should know the answer to...
How does selling SPX or XSP calls/puts work since it's cash settled?
I have never sold anything uncovered before... was curious how these work uncovered.
Similar to how bought calls and puts work in these. If they are out of the money at expiry, nothing happens (you keep the premiums from any sold contracts). If they are in the money at expiry you cash settle. For sold SPX and XSP contracts this means $ premium - $ amount in the money = gain (loss).
Yes, I think it's already priced in, but just a minnow's opinion here. I think the headline this morning was from the WSJ, something like, "Fed expects 1 more hike of .75 and smaller hikes thereafter". The market pushed up pretty hard on that news. and the market typically front runs these hikes.Farmer @ Johnsongrass, TX said:
Anybody here in the camp that the 10 Year Treasury has the next (Nov 2) .75 rate hike priced in?
on the technical side though and Bearish: I see nothing to be optimistic about. A megaphone down (a new one) since September 23rd and a H&S since Oct 13th, with the shoulder highs being only 1 penny off!
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