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02-10-2023, 04:01 PM #1171
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02-14-2023, 03:06 PM #1172
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02-17-2023, 03:18 PM #1173
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02-23-2023, 01:10 PM #1174
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02-23-2023, 09:20 PM #1175
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02-23-2023, 11:51 PM #1176
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02-24-2023, 03:49 PM #1177
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02-25-2023, 06:27 PM #1178
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02-27-2023, 02:44 PM #1179
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03-13-2023, 01:26 PM #1180
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03-13-2023, 01:33 PM #1181
swing position on TSLA is deep red.
exited my SQQQ for net 13K+
previous two weeks of covered calls net green. GOOG got called away at 94, AAPL called away at 146. Assigned TSLA @175.
STO
AMZN Jun16 100cc x20
TSLA Jun16 180cc x5
TSLA Jun16 205cc x10
hoping to net roughly 43k in premium
still holding TSLQ as hedge2022 Option Trading Realized Gains: $125,348 USD
2023 Goal: $140,000
2023 Option Trading Realized Gains: $142,035 USD
2024 Goal: $80,000
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03-13-2023, 01:52 PM #1182
Posted on Discord
usersignup — 03/10/2023 2:38 PM
Imo this type of news will fuel retail, wsb and redditors to pile in on puts, drive down market and then cpi numbers come in...boom instant market rebound to today's close. Whales win again.
usersignup — Today at 10:58 AM
today is a good example of what I've said in the past. There is no such thing as a catalyst (generally speaking). The move is gonna happen no matter what. The 'catalyst' is just the timing of WHEN it's going to happen. TBH I had no real inkling of what was happening with SVB except just bad **** going on. I also had no idea there was some bailout planned. I was expecting CPI numbers to be in line with Fed action and that would be the 'catalyst'. But here we are and the market reaction is right with what I posted on Friday. Flash crash, instant rebound. **** is gonna happen no matter what the news is. I was waiting for this. Sold out of my SQQQ position for 13K+ net. More bad stuff is coming IMO so I will buy back in when I see an opening.
And to temper all this, I'm trying to salvage my TSLA swing by selling far out CC atm which I'm deep red, so obviously I'm not trying to say I get it right all the time.
Plan your trade and trade your plan. Being reactionary to the markets whim is only going to lead to poor decision making. If you have and idea where/how the market will move then you can create a plan if it happens. The idea that market moves because of a headline is the biggest lie. Hedge funds make as much as they do because they build positions well in advance of events. When the event happens - regardless of how big or small - they make their move and capitalize. Be on the right side of the move by studying charts, not bull**** news articles designed to suck you in. Rant over, stay safe and trade wisely and good luck.2022 Option Trading Realized Gains: $125,348 USD
2023 Goal: $140,000
2023 Option Trading Realized Gains: $142,035 USD
2024 Goal: $80,000
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03-13-2023, 07:36 PM #1183
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03-13-2023, 10:59 PM #1184
I'd say 100% TA.
I don't worry about macro. Just read the charts. I'll watch out for earnings and some events to plan support and resistance and watch option volumes to plan ahead. I almost never concen myself with financials because imo you never know how the market will read them.
I'm primarily concerned with a few factors and I focus on fine tuning my strategies.2022 Option Trading Realized Gains: $125,348 USD
2023 Goal: $140,000
2023 Option Trading Realized Gains: $142,035 USD
2024 Goal: $80,000
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03-14-2023, 07:48 PM #1185
That's a very interesting take. Don't think I've ever met anyone irl or online that was 100% TA.
I kind of thought too at times the story is just made to be a catalyst and that price is gonna go where it goes, but still cant convince myself to be all TA.
I think i'm 60/40 FA/TA. I bought some Japanese candlestick trading course on udemy a long time ago, but the teacher has a horrible italian accent. might need to give it a watch again
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03-15-2023, 10:43 AM #1186
There is primary benefit of TA, assuming all else equal, i.e. you are successful at it.
You can sleep at night. Unless I'm balls deep in something just before earnings, I never worry about how the news affects the market. Perfect example is this SVB and CS stuff. IDGAF because I have an idea of where things might go. I may not be right, but at least I have a plan.2022 Option Trading Realized Gains: $125,348 USD
2023 Goal: $140,000
2023 Option Trading Realized Gains: $142,035 USD
2024 Goal: $80,000
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03-15-2023, 11:09 AM #1187
TA helps you sleep at night but, macroeconomics, knowing how things can play out over 1, 5 or 10 years will have you sleeping like a baby lol.
If you only do TA, even on long time frames, you can miss the big picture.
Macro is the material, TA is the magnifying glass.I: Self, Lord and Master.
"I rub my hands when my palms itch."
"I call you Son not because you Shine but because you Mine."
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03-15-2023, 11:37 AM #1188
To expound on my previous post.
You can view the Macro as the big picture.
The borders of the image are drawn by government.
The image is drawn by individuals, pieces of it are magnified by traders using TA but because of this, traders can miss the Big Picture.
Pieces of the image that you are not paying attention to can be changed right under your nose.
This is why macroeconomics are important.I: Self, Lord and Master.
"I rub my hands when my palms itch."
"I call you Son not because you Shine but because you Mine."
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03-15-2023, 01:30 PM #1189
From a long term investment pov I would employ different strategies and not TA. I would use it for entry and exit if necessary.
Since this is an option thread I'm dealing with trading and what works for me is TA.2022 Option Trading Realized Gains: $125,348 USD
2023 Goal: $140,000
2023 Option Trading Realized Gains: $142,035 USD
2024 Goal: $80,000
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03-17-2023, 09:08 PM #1190
Expecting lots if volatility in the days to come. Removing risk where I can.
I see QQQ and SPY pop to swing highs and drop fast. Until that plays out, I'm not expecting to add any contracts.2022 Option Trading Realized Gains: $125,348 USD
2023 Goal: $140,000
2023 Option Trading Realized Gains: $142,035 USD
2024 Goal: $80,000
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04-19-2023, 06:02 AM #1191
Here's a quick 0dte trade idea I've been successful with the past few months.
30 min before close, sell the 10 Delta 0dte synthetic strangle on SPX. Exit at touch.
Stats last 90 days of trading: wr 78%, PCR 28%. Average winner $100, average loser $200.
Doing this one with a small portion of the trading account.6'7" 240lb
260/375/460
Man cannot remake himself without suffering, for he is both the marble and the sculptor.
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04-21-2023, 12:27 PM #1192
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04-21-2023, 12:34 PM #1193
Not a lot of trading lately. Mostly sitting back on my longer dated TSLA and AMZN CC collecting premium.
Buy/write on OXY for 62.50CC. CSP weekly 63csp, rolled to May05 63 for additional net premium. All in all a couple K.
Still holding SQQQ, tried to scalp some to bring cost down. Red on that quite a bit but confident near term QQQ is coming down and this rally will end soon. Hope lol.2022 Option Trading Realized Gains: $125,348 USD
2023 Goal: $140,000
2023 Option Trading Realized Gains: $142,035 USD
2024 Goal: $80,000
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04-21-2023, 09:13 PM #1194
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04-23-2023, 11:04 AM #1195
You've got this mixed up. AH moves only matter for Friday monthly AM option expiries which settle at the SET price which you can just not trade. Maybe you're thinking of American options like SPY.
I can personally attest it works this way on SPX having traded the strategy one day this week where the spread expired worthless but /es movement immediately after close would have moved it ITM.6'7" 240lb
260/375/460
Man cannot remake himself without suffering, for he is both the marble and the sculptor.
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04-23-2023, 01:29 PM #1196
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05-23-2023, 09:05 PM #1197
any tips for screening for options? just getting started on it and trying to build up an SOP for screening through options and also interested in what platforms people use for analyzing this? unusualwhales and optionstrat are what im looking at currently. thanks
"I'm not like most girls." -most girls
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05-23-2023, 09:30 PM #1198
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06-09-2023, 08:32 AM #1199
so im just learning my way through this a bit but so far I bought calls for KMI, Ford, Hanes and Rivian. I assume people get addicted to this like gambling eh?
I have a few hundred shares of citibank i have been considering selling covered calls on, is that mostly what you do?"I'm not like most girls." -most girls
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06-09-2023, 10:24 AM #1200
just a word of caution. until you understand option greeks, it's best advised you stay away from buying options. You need to know why an option is priced the way it is and how much the value changes compared to the stock. otherwise you will lose money fast. of course, holding until expiration will lose it even faster.
selling covered calls is almost exclusively how I trade options. again, learn option greeks, otherwise you have a higher likelihood of getting your shares called away2022 Option Trading Realized Gains: $125,348 USD
2023 Goal: $140,000
2023 Option Trading Realized Gains: $142,035 USD
2024 Goal: $80,000
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