The Official Options Thread

[ajlaxmn]

Originally Posted by Blazed

SPX squeezing. Going to get a move one way or the other. I'm looking for 4985 for my runner.

Last close solid resistance so far.

I'm also in one 5000 P after close of second SPY 15m candle. Would like to hit the ATR directly for once. seems like it's been forever since one of my trades went level to level.

[Blazed]

Originally Posted by ajlaxmn

I'm also in one 5000 P after close of second SPY 15m candle. Would like to hit the ATR directly for once. seems like it's been forever since one of my trades went level to level.

EMA/SMA are adjusting to the new data. All time highs + market euphoria, I've noticed that too.

Watch here. Break above last close I'm all out. Don't let theta eat profits or let the trade go red.

[ajlaxmn]

Still in my one contract, hahaha. looking for hopefully 4988 to get out. close enough to 4985 ATR.

[Blazed]

Originally Posted by ajlaxmn

Still in my one contract, hahaha. looking for hopefully 4988 to get out. close enough to 4985 ATR.

Stuck in a range but we should get it. Just need to break 4990.

[ajlaxmn]

I'm out. Whopping $30 today. Whoohoo. Still good position management practice. should have sold earlier when contracts were at $15 per. Oh well.

[Blazed]

All out on that nice push down. Calling it a day here. Gains for the day $1.8k, theta got some of my last contract.

Might check back @ power hour, still have an alert set for SPX 5k.






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Yellin's words of wisdom earlier on prices....

Isn’t the whole point of all these rate hikes to get prices down? We clearly left logic city a long time ago

This is exactly why I couldn't sit on someone's payroll and be limited to what I can do or buy because I depend on a weekly/biweekly check.

[Blazed]

Originally Posted by ajlaxmn

I'm out. Whopping $30 today. Whoohoo. Still good position management practice. should have sold earlier when contracts were at $15 per. Oh well.

How? What did you fill at? My fill on 5k was $1.1k and I just got out @ $1.5k on my runner.

[ajlaxmn]

Originally Posted by Blazed

How? What did you fill at? My fill on 5k was $1.1k and I just got out @ $1.5k on my runner.

Filled at $11, but sold just before the last push down. Would have sold at 14.80 had I held until the last push down. No worries.

[Blazed]

That was the most balanced market I have ever seen today. Chopped and killed premiums all day long and the last 2 mins of the day they ran it to 5000

[ajlaxmn]

Originally Posted by Blazed

That was the most balanced market I have ever seen today. Chopped and killed premiums all day long and the last 2 mins of the day they ran it to 5000

Yeah that was ridiculous.

[Blazed]

Don't give back any gains for the week. Be patient and let the trades come to you and let the trades play out once you enter.


SPX: 5000 key level. Watching for a bounce for calls here (we could also break below so watch volume) Take what the market gives, no bias.


Watching:

SPY: Watching for puts @ premarket high.


That's all I'm watching.



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Worth noting. You should always be keeping an eye on what's actually going on vs. what the media and elected officials tell you.


But everything's fine and consumers are resilient

[Blazed]

Originally Posted by Blazed

Don't give back any gains for the week. Be patient and let the trades come to you and let the trades play out once you enter.


SPX: 5000 key level. Watching for a bounce for calls here (we could also break below so watch volume) Take what the market gives, no bias.


Watching:

SPY: Watching for puts @ premarket high.


That's all I'm watching.

SPX: 5000 key level✅- caught a nice $2.6k gain off the 5k bounce. Trimmed Trimmed here (close enough to the ATR. Contracts up $340) - going to see if we can crack the ATR level or will cut in profits.

Need to break SPY's VWAP

[Blazed]

Originally Posted by Blazed

SPX: 5000 key level✅- caught a nice $2.6k gain off the 5k bounce. Trimmed Trimmed here (close enough to the ATR. Contracts up $340) - going to see if we can crack the ATR level or will cut in profits.

Need to break SPY's VWAP

Need to break SPY's VWAP✅- broke it and contracts exploded. All out here.

Gains for the day $4.4k

One and done is all you need on Friday. If you caught that close your brokerage account and enjoy the long weekend.




Back at it Monday.

[Blazed]

Sold some covered calls here on some of my equity positions (40% of AAPL, 40% of MSFT, and 100% AMD). Make your equity work for you.

Strikes - AAPL -AAPL250321C200, MSFT -MSFT260116C435, and AMD -AMD260116C200.

If they get called away I'm ok with that as it's a small % of my holdings and I know what I bought them for back in 2018/19/20. It's just like trimming but you get to collect some premiums and hopefully the calls expire worthless or I can buy them back @ a fraction of what I sold them for.

The cash premiums I got I'll sit cash for now and look for opportunities.

If TSLA can get down to 160/150 area I will add equity and sell covered puts not looking to sell covered calls anytime soon on TSLA.

Today was a great day. I hope they keep running the market up a little longer before we get a nice correction.

I still have my NVDA puts, 680 strike so I'm pretty red right now. I have time though so see what NVDA does in the next 2 weeks.

[ajlaxmn]

Originally Posted by Blazed

Sold some covered calls here on some of my equity positions (40% of AAPL, 40% of MSFT, and 100% AMD). Make your equity work for you.

Strikes - AAPL -AAPL250321C200, MSFT -MSFT260116C435, and AMD -AMD260116C200.

If they get called away I'm ok with that as it's a small % of my holdings and I know what I bought them for back in 2018/19/20. It's just like trimming but you get to collect some premiums and hopefully the calls expire worthless or I can buy them back @ a fraction of what I sold them for.

The cash premiums I got I'll sit cash for now and look for opportunities.

If TSLA can get down to 160/150 area I will add equity and sell covered puts not looking to sell covered calls anytime soon on TSLA.

Today was a great day. I hope they keep running the market up a little longer before we get a nice correction.

I still have my NVDA puts, 680 strike so I'm pretty red right now. I have time though so see what NVDA does in the next 2 weeks.

I'm still selling Calls against my AUPH shares (800 shares). Just bought 400 more so when I buy back my 8 calls I've sold I'll sell 12 contracts next time. usually nets me around $800 every two months or so.

[Blazed]

Originally Posted by ajlaxmn

I'm still selling Calls against my AUPH shares (800 shares). Just bought 400 more so when I buy back my 8 calls I've sold I'll sell 12 contracts next time. usually nets me around $800 every two months or so.

Nice! Great way to passively grow the account. I don't follow or know about that stock but if the options/stock consistently move that good (some volatility) I might look into it.

[Blazed]

CPI tomorrow and OPEX on Friday.

Trade smart and let the trades come to you.

Only watching SPX 5000 bounce.

[Blazed]

All market gains sold (almost, 3 points shy of last close) - pretty impressive.

5050 reject (if you marked your levels you should have had this whole psych number marked), If you caught that reject and followed volume - you got paid.

Took a while but that's the only trade I took today. When I didn't get my bounce this morning I walked away and had alerts set. You don't have to just watch the screen all day.

Gains from trade - $5.2k

Still holding my NVDA puts. NVDA is moving like TSLA did when it was a 900 - 2000 stock. Wild swings so watching what it does day by day.

[ajlaxmn]

Grab a quick trade off 5050 P, didn't hold long enough, just took one contract, only $110 profit. Should have sold earlier when it touched 5040 (10 point trade), would have made almost $300. Considered another contract for 5050 P later when call volume was lower than previous green candle, which was lower than previous red, didn't pull the trigger though.

Just got out of 5035 Puts, many I screwed that trade up. Got into it based on volume, held through SPX and SPY confluence rejecting ATR, SPX finally moved down towards 5030 and sold for $160 profit then SPX/SPY explode past previous close to ATR, contracts went from $6 to $16. Had two contracts. Totally screwed up. hahahaha. man.

[Blazed]

And just sold my runners here @ the 5017 ATR. Didn't cut @ last close as we blew right past it.

Another great day for the books.

[Blazed]

CPI in 2 mins. If we get good range after the data drop it should be a good day to let runners run.

[Blazed]

CPI comes in at 3.1% vs 2.9% expected

Can’t lower rates now next month or next quarter. Market prices in 6 cuts for the year….

Should be a fun day - 50 point range so far premarket

[ajlaxmn]

Originally Posted by Blazed

CPI comes in at 3.1% vs 2.9% expected

Can’t lower rates now next month or next quarter. Market prices in 6 cuts for the year….

Should be a fun day - 50 point range so far premarket

Sweet can't wait. Might try 2 contracts today.

[ajlaxmn]

market absolutely taking a dump. Hahaha. Was going to look at 4950 P right off the open, but probably need to really wait the 15 minutes to see what the market does, or at least 5-10 minutes.

[ajlaxmn]

Originally Posted by Blazed

CPI comes in at 3.1% vs 2.9% expected

Can’t lower rates now next month or next quarter. Market prices in 6 cuts for the year….

Should be a fun day - 50 point range so far premarket

70 Point rage now. Blaze in a scenario like this do you look for a bounce at a key level or an expectation of the market to continue moving down?