Ragoo said:

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Is BOIL a leveraged ETF? Don't they all decay over time?

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Yes. I want to see how we open but I will defend through covered calls.

For the decay, Can you just buy and sell the same day every so often to rest it?

$30,000 Millionaire said:

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Ragoo said:

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Is BOIL a leveraged ETF? Don't they all decay over time?

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Yes. I want to see how we open but I will defend through covered calls.

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if you've not already sold them or bought puts, you will have to do some flipping, no?

Philip J Fry said:

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For the decay, Can you just buy and sell the same day every so often to rest it?

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Yes, scalp it, don't hold. which I think you already do, right?

apologies to those that are long it, hopefully at least model T's back up this week.

wanderer said:

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Heineken-Ashi said:

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This action in nat gas is the kind of thing that happens at the end of a trend. And that trend has been down since end of last winter.

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NG trend has been down since August, but definitely not since last winter.

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The 1-2 month move up we had retraced the losses from the big move down following winter. Then it lost all ground and dropped to new lows. Admittedly, those 1-2 months were a solid uptrend and you could have made some serious money, but it didn't establish a new bull market and it definitely didn't establish itself. It's a very clear bear market bounce looking back. It's a very similar layout to what happens when anything hits a blow off top. You end up with a wonky looking bra where the right cup hangs lower than the left. That's why I'm not convinced it's not going lower in one more final move. And the daily trend is now firmly back down. But once it finishes and established the next move up, it will be very lucrative.

We'll be able to get out. Don't worry.

If it's not trending up by morning, I'm going to sell ITM cc to escape.

Ok I'm a couple months off.

Off topic a little but I thought you could choose which shares to be assigned? I had some Mara shares and did CCs on them. Some I had at $6.60 and others around $7.50. But I wanted to unload the $6.60 ones for my $6.50 cc but it took the higher ones. Any help is appreciated

BOIL is going to test my discipline today. Do I respect the $30 stop I gave this trade?

Triple_Bagger said:

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BOIL is going to test my discipline today. Do I respect the $30 stop I gave this trade?

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I'm going to sell ITM cc on this.

$30,000 Millionaire said:

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Triple_Bagger said:

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BOIL is going to test my discipline today. Do I respect the $30 stop I gave this trade?

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I'm going to sell ITM cc on this.

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For Friday?

BOIL -13%

bmoochie said:

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Off topic a little but I thought you could choose which shares to be assigned? I had some Mara shares and did CCs on them. Some I had at $6.60 and others around $7.50. But I wanted to unload the $6.60 ones for my $6.50 cc but it took the higher ones. Any help is appreciated

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Yes you should be able to adjust this. What brokerage are you using?

I use fidelity and adjust all the time to manage which shares get sold or assigned. In fidelity, under closed positions, you can select lot reallocation and pick which lots get selected.

I am not sure how much time that you might have to do this, as it might only be a few days after assignment

irish pete ag06 said:

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$30,000 Millionaire said:

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Triple_Bagger said:

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BOIL is going to test my discipline today. Do I respect the $30 stop I gave this trade?

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I'm going to sell ITM cc on this.

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For Friday?

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Possibly. I want to see this get at least a bit of a bounce before I do it. I will post here what I do.

$30,000 Millionaire said:

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irish pete ag06 said:

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$30,000 Millionaire said:

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Triple_Bagger said:

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BOIL is going to test my discipline today. Do I respect the $30 stop I gave this trade?

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I'm going to sell ITM cc on this.

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For Friday?

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Possibly. I want to see this get at least a bit of a bounce before I do it. I will post here what I do.

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There are going to be a lot of people exiting right at the open on this.

E*Trade

Look at the volume. Lots of buyers here.

Farmer @ Johnsongrass, TX said:

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Somewhere around 3 to 4am this morning, Russia gave double birds to the West declaring price caps will destabilize crude pricing. Brent and WTI took notice. Maybe that crude options trader that Kramer talked to a few days back, noting that crude would be the mother of all buys after Thanksgiving is having champagne this morning..

ETA - btw if you never had champagne and quiche for breakfast, try it, you'll like it!

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Have a 2% trailing buy on BOIL that should be triggering at 30.

Watching closely. Sub $30 is an excellent price. $23 is its 52wl.

Already up to average volume.

KIRK has 5x the daily volume over the last 30 days, news incoming?

RE: BOIL

I didn't respect my stop (degenerate).

Averaged down to a $31/share cost. Sold 12/16 C30s @4 per contract against all shares. Will net $300/lot if called away on 12/16 (~10% profit).

I typically target 10-15% monthly profit on buy/writes, so this isn't too bad considering the shorter time frame (2 weeks).

We'll see if it holds.

So far it looks like the initial move yesterday was the fakeout.

/CL diving $3+ this morn

Clean follow through in #ES_F: Loss of 4040 was trigger down to 4k-4010 as posted and coming into target area now. It is quite likely ES builds a wide range base this week to setup for CPI/FOMC next week. The real catalyst

Decent support here. Bulls can't bounce, 3965 next down. https://t.co/aUBxsRoYdM

— Adam Mancini (@AdamMancini4) December 5, 2022

Descending triangle on OXY

Great. I got in OXY at $69.42.