wanderer said:

---

Nothing brings people out of the woodworks more than a good ol' WWR discussion.

While we're talking about it though, if it loses that $1 "support" then it could go down a ways (if that's even possible to go lower).

---

aaaaannnnnddd there it goes

Dammit. I'm just glad I sold some covered calls way back when to lower my cost basis a little bit. I'm not down quite as much as TDA thinks I am.

wanderer said:

---

wanderer said:

---

If anyone is interested, these are now available for under 70 cents.

$FIS Jan 20 $80 calls $1

— Disciplined Trading (@oldarmy1) December 5, 2022

---

An idea…..Can buy these Jan calls and sell the 12/16 $75c for $.10-$.15 (total debit). **This does come with some risk since the call you're selling is less than the strike you'll own.

---

I'm gonna bring this one up one more time.

You can still buy (Jan 80c) and sell Dec (75c) for .14. Even if the ticker is above $75 next friday the gain on Jan $80 will keep up with the gain on the Dec 75c. If the ticker stays at ~$69-70 you'd even be able to sell Jan 85c for a dime on 12/19 if you wanted for a $5 spread all at the cost of ~.04 (plus fees).

This is far from a slam dunk profit trade, but it seems like there is great R/R here.

I'm all ears to hear how/why this is an awful idea.

wanderer said:

---

wanderer said:

---

wanderer said:

---

If anyone is interested, these are now available for under 70 cents.

$FIS Jan 20 $80 calls $1

— Disciplined Trading (@oldarmy1) December 5, 2022

---

An idea…..Can buy these Jan calls and sell the 12/16 $75c for $.10-$.15 (total debit). **This does come with some risk since the call you're selling is less than the strike you'll own.

---

I'm gonna bring this one up one more time.

You can still buy (Jan 80c) and sell Dec (75c) for .14. Even if the ticker is above $75 next friday the gain on Jan $80 will keep up with the gain on the Dec 75c. If the ticker stays at ~$69-70 you'd even be able to sell Jan 85c for a dime on 12/19 if you wanted for a $5 spread all at the cost of ~.04 (plus fees).

This is far from a slam dunk profit trade, but it seems like there is great R/R here.

I'm all ears to hear how/why this is an awful idea.

---

Because if you get exercised between now and next week you get assigned and end up short those shares at $7500/contract? I guess worst case (stock has mooned and is over $80) you exercise your jan calls to cover and are only out $500/contract, but any price above 75.14 over the next week and you lose money. R/r doesn't seem great to me
Another edit: i neglected the value of the long call...value of those go to somewhere between 1.5 and 3.5 if the short call goes itm and exercised... that's still likely to leave you in the red if the sp is over say 76.65 next fri

If the stock next Friday is at:

• $76 - the Jan $80c should be ~$1.90ish
• $77 - the Jan $80c should be ~$2.25ish
• $78 - the Jan $80c should be ~$2.70ish
• $79 - the Jan $80c should be ~$3.20ish
• $80 - the Jan $80c should be ~$3.75ish

So yes, there is some risk the higher it goes, but that's a $10+ move in a week. Like I said, not without it's risks, but seems like good R/R.

One of these days I'm going to learn to stop trading 0dte after about 11am. Did great this morning, got eaten alive for a couple hours, then nailed a 30% as soon as i switched to fridays

Ags2013 said:

---

Am I the only idiot still holding WWR?

---

I am still holding, but it is not a significant portion of my portfolio.

Thoughts on SOXL as a hold at these levels? Just broke even on it today but concerned this rally is gonna fizzle out soon. May just get out whole while I can.

insulator_king said:

---

Ags2013 said:

---

Am I the only idiot still holding WWR?

---

I lowered my cost basis to $1.50/share now.
Yee Haw!

---

lol this is the way! If you buy an infinite amount of shares, your net loss per share would approach zero!

I jest. I lost money on that turd too so pretty much everyone here can laugh about it haha.

Looks like futures contracts rolled out to March on Trading View. Hate when there's such a big gap between ES and SPX. Time to recalibrate.

Triple_Bagger said:

---

Looks like futures contracts rolled out to March on Trading View. Hate when there's such a big gap between ES and SPX. Time to recalibrate.

---

I saw Mancini allude to this last week in a tweet somewhere. Does this change the price of SPX at all? I think the gap goes somewhere to around 30 (was close to 5 or so these last few days).

me too
kinda considering buying more at this level

Depends on your definition of long. I've typically hold them for a few weeks.

No, it doesn't effect SPX pricing

Well then..

This here is why it seems like it'll be hard for there to be a big sustained drop in the near-term.

Equity put/call ratio spiked again yesterday to highest since early 1997 (similar to move in mid-November) pic.twitter.com/e0zCGkh0in

— Liz Ann Sonders (@LizAnnSonders) December 8, 2022

That 3920-3930 level has been strong support.

Moreover, SPY has been a magnet to 395 area. It's stuck to it like a rip cord. Any time it extends away from there, it slingshots back. Once VIX expires or possibly next week due to FOMC/CPI, I expect things will decline. That's my guess at least…..

Bullish!
Hmmm...calls or puts at next 395.3 touch...
Thinking puts

Charismatic Megafauna said:

---

Charismatic Megafauna said:

---

You boil guys think they ran everybody's stops then put in a beautiful 3 day rounded bottom on the hourly for just $5? Look at 10/21. I bet she tags $35 tomorrow

---

Ok i was a day early

---

Up over 30% this week

I wouldn't expect too much until the Fed. 3920 - 4000 (3970 really) is a chop zone for now.

3920 has been nails on holding support but it's been tested many many times now.

I missed Netflix yesterday. MRNA is setting up

Theta has been killing my VIX calls. Feel like I need to just get rid of these things and take the loss.