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24,627,963 Views | 233268 Replies | Last: 46 min ago by Heineken-Ashi
Charismatic Megafauna
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AG
Sooo... we're gonna barcode all day and pin here?
Spoony Love
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Oh, it's getting dirty. We are at a 1.5% day on SPY and it could keep going.
FJ43
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Spoony Love said:

I'm looking for a SPY bounce around 410. Surely the bulls will wake up then and fight.

I've made my goal for the day. It's now just play time.


Could be. 408 and change looking while driving. Frowned upon.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

wanderer
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Have a 5/2 SPY 416/415p vertical that was net free that I think I'll be able to max out…
FJ43
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SKEW charts come to fruition.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

FJ43
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VIX needs to clear and hold 20 then 23 to really go.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

Spoony Love
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AG
That was my first play today. I gave up on a tomorrow 408P because it doubled extremely quickly. I thought, ok, it will bounce at some point and I lose all that momentum. It's 4x now.
FJ43
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wanderer said:

Have a 5/2 SPY 416/415p vertical that was net free that I think I'll be able to max out…


Congrats!

Just me….don't get greedy. Traders market.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

FJ43
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Tempted to play a bounce here but not going to. If you're feeling lucky go to next week and not too far OTM.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

topher06
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This seems oversold.
Farmer @ Johnsongrass, TX
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FJ43 said:

Ccutamu said:

FJ... did you cut XOM June 125s?


Nope. Want to see if reclaims 50. Down 22%. June calls within my trade plan.

Took off all but runners on May VIX calls for the win. Those more than offset the XOM.

Holding all June VIX calls.
Yes! Keep to see if 50 is reclaimed.

XOM usually has a drop right after ER. This drop is pretty dang deep. Beyond my expectations. However, it rebounds and picks up steam heading to ExDiv date (this quarter is 5/15).

A Goldman analyst lowered his XOM target on Monday to $126. The only analyst to lower. The market media plastered it everywhere. However, Jeff Currie/GS is bullish out-of-his-mind crude. So, yes there can be different opinions in the same house. I favor Currie more than some unknown yaking about XOM. Frankly, I think the GS announcement is allowing their big clients an entry into XOM.

API numbers today, EIA tomorrow. Look for massive draws 10+million from the Big 3. I only see draws going forward. If your recession minded and thinking demand is going down....the demand data is not showing that.

May 2023 are the OPEC+ cuts and U.S. enters driving season in May.

Moo
$30,000 Millionaire
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AG
$COIN looks good, but earnings.
AgEng06
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AG
Let's say you were going to pick up some calls based on this drop (assuming you don't currently have any in play). What would you look at and how far out?
Boy Named Sue
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I have runners on 409p, 410p and 411p. The 410s expire tomorrow and the others are 0dte. I already made my weekly goal today, so I want to set trailing stops on these runners and focus on work. What % would you guys recommend? Or would you recommend a different approach like a hard stop?
$30,000 Millionaire
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AG
I'd be out today or I would be so small that you can let the runners be zero.
$30,000 Millionaire
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more downside is possible today but i think the bulk of the move has happened at this point before the fed.
Boy Named Sue
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Yeah they can all be zero at this point. I was curious if there's a difference in approach between 0dte and 1dte. I was thinking 15% trailing, but then wondered if a bigger trail might be better on the more volatile 0dte
$30,000 Millionaire
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AG
they're still pushing this down, but volume is diminishing. should be a cue for you.
$30,000 Millionaire
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Boy Named Sue said:

Yeah they can all be zero at this point. I was curious if there's a difference in approach between 0dte and 1dte. I was thinking 15% trailing, but then wondered if a bigger trail might be better on the more volatile 0dte
for a true runner, i'd have a stop at entry and then just close EOD.
$30,000 Millionaire
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AG
they're inflating call premium again
SF2004
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$30,000 Millionaire said:

they're inflating call premium again


Which means?

I tried a small mes position and stopped out. This is where a struggle, when does it reverse.
Farmer @ Johnsongrass, TX
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AgEng06 said:

Let's say you were going to pick up some calls based on this drop (assuming you don't currently have any in play). What would you look at and how far out?
I don't know your budget. Tried to be reasonable. So, here goes..

Jun 9 $118's
Jun 16 $115's
Jun 16 $120's
Jul 21 $125's

I favor the Jun 16's. I think that's MOPEX in June. I'm usually bearish those MOPEX weeks. But, by this time (June) the supply/demand scenario will be out there and those folks today (May 2) thinking there's a bunch of supply will get a surprise in June, if not before. Lot's of Doubting Thomas' out there.
$30,000 Millionaire
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AG
i don't trust this to get long yet, but ES could and should go for 4130
Ccutamu
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Farmer @ Johnsongrass, TX said:

FJ43 said:

Ccutamu said:

FJ... did you cut XOM June 125s?


Nope. Want to see if reclaims 50. Down 22%. June calls within my trade plan.

Took off all but runners on May VIX calls for the win. Those more than offset the XOM.

Holding all June VIX calls.
Yes! Keep to see if 50 is reclaimed.

XOM usually has a drop right after ER. This drop is pretty dang deep. Beyond my expectations. However, it rebounds and picks up steam heading to ExDiv date (this quarter is 5/15).

A Goldman analyst lowered his XOM target on Monday to $126. The only analyst to lower. The market media plastered it everywhere. However, Jeff Currie/GS is bullish out-of-his-mind crude. So, yes there can be different opinions in the same house. I favor Currie more than some unknown yaking about XOM. Frankly, I think the GS announcement is allowing their big clients an entry into XOM.

API numbers today, EIA tomorrow. Look for massive draws 10+million from the Big 3. I only see draws going forward. If your recession minded and thinking demand is going down....the demand data is not showing that.

May 2023 are the OPEC+ cuts and U.S. enters driving season in May.

Moo
Thanks guys! Vix calls did help but I got in at 17 so didn't get the bump from 15 that OA talked about.
AgEng06
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AG
This is great. Thank you!
$30,000 Millionaire
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AG
size small but you could try 4110C. just consider the macro context!
$30,000 Millionaire
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AG
no entry yet for me
Farmer @ Johnsongrass, TX
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Farmer @ Johnsongrass, TX said:

AgEng06 said:

Let's say you were going to pick up some calls based on this drop (assuming you don't currently have any in play). What would you look at and how far out?
I don't know your budget. Tried to be reasonable. So, here goes..

Jun 9 $118's
Jun 16 $115's
Jun 16 $120's
Jul 21 $125's

I favor the Jun 16's. I think that's MOPEX in June. I'm usually bearish those MOPEX weeks. But, by this time (June) the supply/demand scenario will be out there and those folks today (May 2) thinking there's a bunch of supply will get a surprise in June, if not before. Lot's of Doubting Thomas' out there.
Do it now. 10:54amCT
cgh1999
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AG
FTAG 2000 said:

Did another bank fail somewhere? Financials getting murdered.

FFWM, PACW, and a few others are getting close scrutiny now that FRC is gone. Regional banks are getting slaughtered.
$30,000 Millionaire
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AG
we're in my "no" window, so I'm going to be back at 2
Brewmaster
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cgh1999 said:

FTAG 2000 said:

Did another bank fail somewhere? Financials getting murdered.

FFWM, PACW, and a few others are getting close scrutiny now that FRC is gone. Regional banks are getting slaughtered.
played PACW put lottos overnight, sold at 7x! Let's just say I'm done for the day! sorry I didn't post them here, I had low to moderate confidence in the play and time frame.



ALLY is another one that could crater, just watching it for now.
Charismatic Megafauna
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AG
$30,000 Millionaire said:

we're in my "no" window, so I'm going to be back at 2




Where's prog? Band again?
Farmer @ Johnsongrass, TX
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Farmer @ Johnsongrass, TX said:

Farmer @ Johnsongrass, TX said:

AgEng06 said:

Let's say you were going to pick up some calls based on this drop (assuming you don't currently have any in play). What would you look at and how far out?
I don't know your budget. Tried to be reasonable. So, here goes..

Jun 9 $118's
Jun 16 $115's
Jun 16 $120's
Jul 21 $125's

I favor the Jun 16's. I think that's MOPEX in June. I'm usually bearish those MOPEX weeks. But, by this time (June) the supply/demand scenario will be out there and those folks today (May 2) thinking there's a bunch of supply will get a surprise in June, if not before. Lot's of Doubting Thomas' out there.
Do it now. 10:54amCT
I added shares at $109.86

A falling knife happened just afterward.

Oh well,...

Boy Named Sue
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AG
Gonna buy XOM calls and maybe shares at 109.30, I think
cryption
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Bought XOM June 16 at .85, going to average it down if we keep falling
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