The Official Options Thread

[Blazed]

Originally Posted by lane121

Didn't take these, but it'll help build confidence with charting. MSFT bounced exactly @ 441 in the morning. I was watching MSFT on the screen, SPX/SPY and I had TV open looking at NVDA. I should know better lol. I still think I would have missed the SPX move. Though, volume clearly showed that buyers were slowing before the candle close. I just thought we would have chopped around more this morning. Another opportunity to look over this weekend and to focus on more screen time.

Thought for sure you caught that one.

Rejected off the ATR + buyers slowing = automatic entry. Stop would have been a break above and close on 5min.

[lane121]

Hmm, consolidating before a bigger move killing premiums on both sides and MM's looking to pick up at wholesale before selling at retail? Maybe VPA is making me see things though. Looking for a break and retest of 5596.50 for puts

[Blazed]

Originally Posted by Blazed

Still seeing sell signals on the daily and weekly

Still seeing sell signals on the daily and weekly✅

Originally Posted by lane121

Hmm, consolidating before a bigger move killing premiums on both sides and MM's looking to pick up at wholesale before selling at retail? Maybe VPA is making me see things though. Looking for a break and retest of 5596.50 for puts

I took this when it retested 5600 after the break below.

Worked out perfect if you caught it.

Volume + flow confirmed.

Just took some patience.

[Blazed]

Calling it a day here.

$10k day off 2 trades before noon.

All education in here free - if you're interested follow along.

Will check back power hour and might swing some SPY calls for NFLX.

[lane121]

What/when I traded: 3 SPY 557C contracts @ 2:22 (est) based on the 2:21 SPX 1 min candle retesting intraday support of 5596.50.

Reason for entering trade:

Intraday support/resistance area of SPX 5596.50 broke above and retested @ 2:21 (est) on the 1 minute SPX candle. 2:15 SPY volume appeared to be coming in heavy for buyers taking control too. Additionally, the trend at the time was neutral.

Exit plan:

Cut if SPX 5 minute candle closes below the 5596.50 intraday support. If not, trim/sell at 5600 (also lined up near VWAP).

Where I sold:

I ended up selling one contract after switching back to the 5 minute SPX chart and SPX reached 5600 and SPY VWAP. Sold the other two at break even. Total gain on that trade $20. Total profit for the day $108 (scalped a couple of NVDA calls at $117.50 area and profited $88).

Not very happy with the execution. A lot of chop today and low volume in the afternoon after the initial move from the 5622 ATR. The r/r wasn't there and I should have just been patient for another day.

[lane121]

Originally Posted by Blazed

Still seeing sell signals on the daily and weekly✅




I took this when it retested 5600 after the break below.

Worked out perfect if you caught it.

Volume + flow confirmed.

Just took some patience.

I'm not 100%, but for flow here, were you referring to large put order blocks or something else? Also, for the sell signals, would that happen to be because of the 5 below the 8 on the daily for a lot of the ind combined with SPX/SPY being outside of the BB's on the weekly? Thanks Blazed!

[lane121]

U.S. leading economic indicators today @ 10

SPX top 5650, key level 5600, bottom 5550

Gap @ 5639

Not seeing much I like today atm

[Blazed]

Originally Posted by lane121

U.S. leading economic indicators today @ 10

SPX top 5650, key level 5600, bottom 5550

Not seeing much I like today atm

SPX 5576/75 support if we get down here. My main watch outside of those listed above

[Blazed]

Originally Posted by lane121

I'm not 100%, but for flow here, were you referring to large put order blocks or something else? Also, for the sell signals, would that happen to be because of the 5 below the 8 on the daily for a lot of the ind combined with SPX/SPY being outside of the BB's on the weekly? Thanks Blazed!

For flow, correct. Was watching how they were positioning. Buying cheap OTM puts before the drop then cheap OTM calls @ 5600 for the push up.

Sell signals, I use SPY daily volume. You can see buyers slowing down while sellers increase.

[lane121]

For flow, correct. Was watching how they were positioning. Buying cheap OTM puts before the drop then cheap OTM calls @ 5600 for the push up.

Sell signals, I use SPY daily volume. You can see buyers slowing down while sellers increase.

Great, thank you!

Looks like some massive call orders coming in with tomorrow expiration.

[Blazed]

They're getting ready for NFLX.

SPX 5576 is what I'm waiting on.

Call entry off uptrend w/ a hold above 5606

[lane121]

Holding for trim @ 5618 ATR or stop at break below of 5600

[Blazed]

Originally Posted by Blazed

They're getting ready for NFLX.

SPX 5576 is what I'm waiting on.

Call entry off uptrend w/ a hold above 5606

Ok now watching for 5576 for a bounce

Originally Posted by lane121

Holding for trim @ 5618 ATR or stop at break below of 5600

I hope you got a full exit before that 10:30 data.

[lane121]

Just watching 5550 now with the news

[lane121]

Actually 5576 still holding up pretty well. Forgot news invalidates volume.

[Blazed]

Originally Posted by Blazed

Ok now watching for 5576 for a bounce

Ok now watching for 5576 for a bounce✅

Trimmed @ 10pt move. Letting runners run as that was the demand zone.

[lane121]

Originally Posted by Blazed

Ok now watching for 5576 for a bounce





I hope you got a full exit before that 10:30 data.

I did not get out before the break below of 5600, so took an L. Great education though and glad I got out there at least lol

[Blazed]

Originally Posted by blazed

spx 5576/75 support if we get down here. My main watch outside of those listed above

Originally Posted by blazed

spx 5576 is what i'm waiting on.

Originally Posted by blazed

ok now watching for 5576 for a bounce

Originally Posted by blazed

ok now watching for 5576 for a bounce✅

trimmed @ 10pt move. Letting runners run as that was the demand zone.

All out of runners @ break below 5580.

Gains from this trade: $3.5k

It's raining here so I'll watch for 5550 now and see what we do there.

[Blazed]

Originally Posted by lane121

I did not get out before the break below of 5600, so took an L. Great education though and glad I got out there at least lol

Yeah, that's why I always exit trades about a min or 2 before data with very few exceptions. Even if data goes my way, I'll just look for a new entry.

The positions I've held through or entered right before data, I expect to lose it all but hope for the best. Sometimes depending on what the data is the R/R is there.

Great learning day though as you said.

[Blazed]

Originally Posted by Blazed

All out of runners @ break below 5580.

Gains from this trade: $3.5k

It's raining here so I'll watch for 5550 now and see what we do there.

so I'll watch for 5550 now✅- Perfect bounce off 5550. Trimmed @ 10pts.

Left 1 runner to run rest of the day. No stops, free play with profits if it goes to $0.

Days gains $6.4k (If my runner goes to $0 that will be a $1.2k loss)




Done for the morning. See where the market is for PH & NFLX earnings.

[Blazed]

Originally Posted by Blazed

Still seeing sell signals on the daily and weekly that are currently being ignored by the market.

Still seeing sell signals on the daily and weekly✅

Originally Posted by Blazed

Took 2 -SPY250117P550 @ 1700

Originally Posted by Blazed

Added 2 more here. No stops, will let this play out. Either a win or go to $0

Green on all cons now - send it.

I expect a relief bounce then continue 2nd leg down.

Once the correction gets in full swing it's gonna be a nice one.

[Blazed]

CRWD on watch for calls

Funny how dependent we are on technology.

One "glitch" messes things up and the world pauses lol

Cybersecurity experts say this is set to be the biggest IT outage in history. As CrowdStrike shares plunged 20% in pre-market trading in New York, but CrowdStrike's CEO stated that the outage was not caused by a cyberattack.

All Metro train services in Washington, DC, have been suspended due to a nationwide IT outage

American Airlines, United, and Delta Airlines have just implemented a global ground stop on all flights due to the current significant Microsoft outage that is occurring

[Blazed]

Keeping it simple today since it's OPEX

SPX: reject @ 5576 & bounce @ 5600


Watching:

CRWD: Still down 40 points. Watching for a recovery. No 0dte contracts.

[ajlaxmn]

Totally didn't realize it was OPEX. Shows how much I have been out of it.

Had the SPX reject at 5575, so I'll go back in look closer at 5576.

EDIT: I see it on the daily, also on the hourly but not as hard of a bounce.

[Blazed]

Originally Posted by Blazed

Keeping it simple today since it's OPEX

SPX: reject @ 5576 & bounce @ 5600


Watching:

CRWD: Still down 40 points. Watching for a recovery. No 0dte contracts.

Waiting for my SPX levels to hit.

Only trade I've taken was CRWD

Easy $8.9k to start the day - contracts up $1k from entry.

Left 1 290 runner next Fri exp. See if CRWD can get back to 330/340 area.