The Official Options Thread

[lane121]

I think we have a gap @ 5391 area too

[ajlaxmn]

Out two Puts contracts. Fill $14, Sell $28.

[ajlaxmn]

Didn't get the 9:52 SPX entry, reject ATR, Trend, Volume, wasn't wanting to watch a day trade today, just took note of it. Would have paid.

[lane121]

Waiting to see if we get the reversal of trend indication with this volume candle

[ajlaxmn]

Originally Posted by lane121

Waiting to see if we get the reversal of trend indication with this volume candle

Got the reversal, but trend didn't no confirm, I believe.

[Blazed]

Originally Posted by Blazed

I know of 3 ppl who took this trade. Up $500+/cont depending on where you added.

From $1,700 > $2,200. Make sure to manage them if you can't afford to take an L.

Hit 540 today. Expect a bounce then more downside. MSFT META & AAPL can change those expectations.

Check the daily > weekly. Long way down if SPY next support level.

Trimmed 3 left a runner.

First 2 contracts went from $1,700 > $3,000 - $2600 gain

Contract I added later went from $1,450 > $3,000 - $1,500 gain

Will stop the last runner out @ break even if we bounce back up high enough.


-----------------------------

Originally Posted by Blazed

SPX: You know what to do on days like this key levels/whole psych #'s/ATR's.

5350 / 5400 / 5300

As always wait for A+ setups and watch for a break and retest at levels (with confirmation). Easiest setup ever to see forming.

watch for a break and retest at levels (with confirmation)✅- worked out perfectly. This set up can make you a lot of money, that's why I always mention it.

Calling it a day here.

Took puts @ the break below 5372 ATR w/ volume confirmation.

Entry @ yellow arrow, yellow line was my stop (HOD) in case the trade went against me.

Gains for the day $27.8k

[Blazed]

Originally Posted by ajlaxmn

Got the reversal, but trend didn't no confirm, I believe.

I did take some -SPY240906C530 off that 3mil bar.

Still have my 1 put.

But should bounce here as 528.8 was solid support level.

Last put runner is in case they want to sell some more before retracing.

[lane121]

Looks like SPX wanted to bounce before 5300 for a nice 25 point move right off of 4hr 200 and daily 100. I missed the move early as I was focused on whole psych today after the huge sell off yesterday and today.

[Blazed]

Originally Posted by lane121

Looks like SPX wanted to bounce before 5300 for a nice 25 point move right off of 4hr 200 and daily 100. I missed the move early as I was focused on whole psych today after the huge sell off yesterday and today.

Catch it that time?

Nice 10 point bounce

[Blazed]

Originally Posted by Blazed

Catch it that time?

Nice 10 point bounce

2nd trim.

! runner left.

Looking for 5350 now.

No stop as it's a completely free trade at this point.

[lane121]

Originally Posted by Blazed

Catch it that time?

Nice 10 point bounce

Not that one either, dang. Though I did see the lowering of volume for sellers and SPY building a support. I was trying to be extra patient since the last few days have been crazier than what I'm used to seeing. Seems like everything still plays out mostly the same though lol. I was looking for calls and either waiting for that touch and close on the 1 min or a drop below then a break above + retest.

[Blazed]

Originally Posted by lane121

Not that one either, dang. Though I did see the lowering of volume for sellers and SPY building a support. I was trying to be extra patient since the last few days have been crazier than what I'm used to seeing. Seems like everything still plays out mostly the same though lol. I was looking for calls and either waiting for that touch and close on the 1 min or a drop below then a break above + retest.

Yeah, technicals still play out. Market is way oversold.

We hit the bottom and bounced.

Should be a nice bounce but spellings not over yet.

[Blazed]

BTC dumped today. BTC back to 42k? Check the monthly. Lose that and we get a nice drop there too.

News over the weekend is the perfect set up for volatility this week.

If any thing pops off today/tonight we should get good movement.

Also on watch - Fed to do an emergency rate cut before the meeting.

I wonder why the fed would do an emergency rate cut amid a strong economy and resilient consumers

[lane121]

BTC mainly on watch because of the 20ma or 23/24 Dec January and 2021 s/r? Or both, making it a higher probability? Thanks!

Should be an interesting week for one that has little scheduled news lol

Looking forward to seeing how futures look this evening.

[Blazed]

The 20ma. Just needs to break the 8 & 5 then we'll see the 20 for a mean revision test.

Also want to see S&P back below 5k. Mean currently sitting @ 4700 a test there at some point would be amazing.

Can get there faster with a couple of economic events and a couple of world events.

[Blazed]

Tomorrow should be a great day

[Blazed]

Good morning Japan







Holy shhhhh

Emergency meeting tomorrow?

Put runner will be nice in the morning

[ajlaxmn]

Originally Posted by Blazed

Good morning Japan







Holy shhhhh

Emergency meeting tomorrow?

Put runner will be nice in the morning

Well this resilient consumer is looking forward to it.

Just curious, and yes I would probably mimic your approach, are you looking at 500 as an area to sell? I had 524.78 as my next bounce, which right now SPY is bouncing 524.2 (albeit pre-market).

[Siberian13]

Originally Posted by lane121

BTC mainly on watch because of the 20ma or 23/24 Dec January and 2021 s/r? Or both, making it a higher probability? Thanks!

Should be an interesting week for one that has little scheduled news lol

Looking forward to seeing how futures look this evening.

Ethereum getting crushed.

[Blazed]

Originally Posted by ajlaxmn

Well this resilient consumer is looking forward to it.

Just curious, and yes I would probably mimic your approach, are you looking at 500 as an area to sell? I had 524.78 as my next bounce, which right now SPY is bouncing 524.2 (albeit pre-market).

IÂ’ll have a better idea in the morning. Have to wait and see if the bombs start flying. If they do, might wake up to SPX in the 5100Â’s lol.

The market will catch itself and weÂ’ll get a bounce. Just have to wait and see if itÂ’s a short bounce and we continue down.

[Blazed]

Robinhood has just halted 24-hour trading due to huge market volatility. They have suspended all 24-hour trades until further notice.

And here we go...

"Just buy the dip" they said

BTC @ 51k

might wake up to SPX in the 5100’s lol.

lol.

[Blazed]

I’ve been saying market was disconnected from reality so I wasn’t adding equity at the top. I mean how stupid can you get?

Market euphoria is over lol.

Don’t fight the trend today. Let the market settle, they have to save 5100.

When things are bad they get worse so be patient and wait for signals/confirmations.

Personal trade - I will be adding some NVDA at open.

NQ down over 1100

SPX down over 200

Feds are speaking right now. Weren’t scheduled to speak lol.

PMI @ 9:45

[lane121]

Haven't seen the VIX this high since 08 and 20.

Just watching and waiting patiently for strong whole psych today and after data. We are way outside ATR's lol. Not rushing anything today.

[Blazed]

Margin call Monday

It's going to be a fun week.

SPX: 5150 key level (5100 support) / 5185 top / 5040 bottom (gap @ 5073)


Watching:

SPY: reject @ 515.5 area & bounce @ 503-500 area.

I will be selling my last put runner @ open.


Probably smart to size down if you trade today. With the goofy fed talking and all the panic right now anything can happen.

And who is panicking? The people who think stoinks only go up lol.


-----------------------------------


Agree with this. At least for now. They need to figure out how to stabilize it before anyone can take BTC serious.

This weekend's #Bitcoin crash is an example of why Bitcoin will never be a reserve asset for any major government or central bank. A reserve asset must have relatively low volatility. It needs to be readily sold when needed. It can't crash more than assets it's supposed to hedge.

[Blazed]

Originally Posted by lane121

Haven't seen the VIX this high since 08 and 20.

Just watching and waiting patiently for strong whole psych today and after data. We are way outside ATR's lol. Not rushing anything today.

Correct. That was a hell of a sell off. Only difference is we have data where as when we were hitting ATH's we didn't have data. So whole psych #'s & solid areas are in play today.