I'd go with $420 calls on $SPY out two weeks if I were to be entering a new trade.

And if you do, I'd be ready to trim if we approach 4160 SPX. That's 20 points of movement correlating to a decent trim profit and then a stop at Model T to your entry for guaranteed gainer if no breakout.

$30,000 Millionaire said:

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These should touch $2

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Yep

confucius_ag said:

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PLTR leaps for 2024 and 2025 are green. Getting tempting to sell here.

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I wouldn't. The chart shows a clear long term trend pivot. Earnings beat/guidance raised. $11.62 is what I have for first sells.

After 10% increase in natural gas production YoY, Devon is guidance is flat to down for 2023.

gougler08 said:

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So I've been peeling back winners lately and now have a sizeable portion in cash...what are you guys thinking? Keep it in cask for inevitable downturn or are we melting up for a while?

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ETA: I too am sitting on cash because things are extended imo.

Evening Gents!

Volatility is moving down so maybe set some alerts to cross below 18 and keep watch. Gets into mid 17s and for sure if it gets into 16s I am loading some about 45-60 days out a few strikes above.

Crazy market day looking at the 5 min. Wasn't able to trade the day but dang what a scalpers day. Lottos galore. Hope you degenerates didnt get greedy and killed it both directions. I am going to cry myself to sleep looking this evening at today's action not being able to get in the sandbox with yall.




Trade wisely!

I think the market is going to fill the upside gap.

$30,000 Millionaire said:

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I think the market is going to fill the upside gap.

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You may be right.

Although this is interesting

One thing to consider…..VIX expires in pre-market trading tomorrow morning. Even though number came in hot today, it was well bolstered by VIX liquidity. May have weakness tomorrow.

Papa Carl just added another monster bet of SPX 3950 for March expiry. Something like 23K contracts avg strike price around $31.

Will be fun to watch. Chopping for s minute in this 4000-4180 range. Almost 3 wks now.

I do think you have to be tactical. 4200 has been controlling upside action for a while now. I would not be surprised to see a fake breakout.

The market has had every reason to go down and hasn't. All dips getting bought. Bust 4170ish and this thing goes hard.

Fund company visited today… originally thought we'd see 3200 in first half, now thinking 3400-3600 in 2nd half. They are waiting for rates to go higher than expected before they really put a lot of risk on in their bond funds.

$30,000 Millionaire said:

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I think the market is going to fill the upside gap.

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the SPX gap at 4218.7 from Aug 22?

What am I missing? How is OA coming up with 52.21 for model-T on CPRI?

$CPRI everyone should have easily been filled on the call levels. We made it to $52.17 on the $52.21 MT which was close enough to get fills up to $1.20.
Magic! https://t.co/T4WQInPKaq

— Disciplined Trading (@oldarmy1) February 14, 2023

Yes

BaylorSpineGuy said:

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One thing to consider…..VIX expires in pre-market trading tomorrow morning. Even though number came in hot today, it was well bolstered by VIX liquidity. May have weakness tomorrow.

Papa Carl just added another monster bet of SPX 3950 for March expiry. Something like 23K contracts avg strike price around $31.

Will be fun to watch. Chopping for s minute in this 4000-4180 range. Almost 3 wks now.

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He got smoked on this weeks trade, he had a double and didn't start closing until today for sizable loss, Still in a bunch though, so he could finish green on that one.

I just looked at futures and saw that they crapped.

OXY looking pretty foxy.

$30,000 Millionaire said:

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I just looked at futures and saw that they crapped.

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Does this change your opinion on filling the gap at 4218.7 from Aug 22?

I think i may look at some BABA calls this morning.

Anyone around here still follow Roku? Do they get a nflx type rally with their earnings today.

They pulled back 30 points, which isn't a large move.

I don't know if 4220 comes or not, I think it will, but there is nothing that screams it to me yet. 4160 on SPX has been capping action for a bit

Let's see what sets up today. Feels low probability to me right now. Downward pressure but also there is support down here. Range is compressing.

Same here

Yep

Looks like a sector rotation out of consumer staples and into $ hit companies as RBLX, MSTR, ABNB, MARA, and others are all rallying today.

confucius_ag said:

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PLTR leaps for 2024 and 2025 are green. Getting tempting to sell here.

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hope you held some!

I have a lot of RBLX shares in the $60's. Wondering if it's worth selling calls here.

Charismatic Megafauna said:

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Why do i always talk myself out of shorting cvna every time it has a +10% day?

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Grabbed a couple friday 10.5 puts for .4