Trades exactly along the TL formed by Sep double tops. Just a guess- maybe it will sell a bit from here.
I bought 10 each SPY 300P Nov 25s; QQQ Nov 29 194s and DIA Nov 22 268 puts. In $5 bear spreads against Friday's weeklies, reduces cost by ~10%.
If it sells great; if not, collect the weeklies.
This is NOT advice; trade at your own risk! GLTA!
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Added 5 more contracts to each position; now in 45 spreads. Not shorting IWM today!
Wait to see how it closes...
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Added an additional 5 contracts to each spread as the drift back and forth ITM/OTM. Get discount on long contracts when OTM; the short weeklies stay about the same, a little less. Now doubled position into 60 contracts. This is how I roll.
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Added to position on lift to 3010, which was not unexpected. Took a nice realized gain from short puts in bear spreads and rolled down and out for a credit. Now in 30 put spreads; adding again if we see 3020. Don't wanna have a tight spread if it tanks suddenly the shorts will kill any gains! Now spread 25 Nov 300P v 28 Oct 296.5P.
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Clarification in 30 SPY spreads; have added to total position now holding 120 bear spreads over four indices. Took out ~3k on the shorts this mornin!
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Added ten moar spreads in PM trade just before it rolled over, up around 3012. I feel like a fkg genius!
Trading ditutup secara manual
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Took what the market gave me. Can still go either way. Watch the candles!
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Re-entered three bear spreads on Weds rally again. Shorting each rally in a small way as it seems to be in daily distribution- pump in AM, dump in PM. FOMC on Weds will trigger the pivot either way IMO. Expect test of ATH before throwover.
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Added in early session and rolled short sides down and out. Added a few more on the midday bounce.
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Increased by 5 lots again in AM trade. Rolled up profits on the short legs. I'm holding this over weekend; usually I don't do that but we shall see. Break feels imminent, can come anytime.
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Weds FOMC likely catalyst to break. Econo reports this week and jobs on Friday... let the distribution begin!
I'm in SPXS, TECS, puts on IWM, QQQ, SPY + DIA. Even bought calls on UVXY... those got weak Friday lol! Holding it, add on Monday if we see 3030!
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Added on this monster rally. Smacks of a bull trap- at double top.
Past month chart appears to be an irregular expanded flat, with 'B' higher than start point of 'A'. If so, 'C' will be most impressive.
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Alphabet after hours ER miss put a damper on the post-session futurez! Could still get a low-vol last push to 3067 on FOMC optimism. Whether they cut again or not, markets are priced for perfection now and will certainly sell on the news. I'm all in on short side atm.
Trading ditutup secara manual
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Action after the FED action is bullish. Might reverse but R/R is poor; stopped out and preserved a nice gain!
@hungry_hippo, ty my friend it's a crap shoot but I reassigned some risk to another fellow writing bear spreads. I almost never leave an open contract anymore. Buy 4k long, sell $400 short, see if you get lucky.
hungry_hippo
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@DaddySawbucks, getting lucky is not an investment strategy. Indicators don't show a direction but market action suggests this is another futures pump and dump. Gonna wait until tomorrow to short anything.
Done looking at the market today, actually made decent money on open because I bought a bunch of calls Friday afternoon.
DaddySawbucks
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@hungry_hippo, Grats! This is NOT investing BTW; it's sheer rank speculation; better to be lucky than good!
chinawildman
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2/3 position here... maybe one more absurd pump here tomorrow or after FOMC dump but this turkey's cooked...
DaddySawbucks
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@chinawildman, Yeah I got too excited and went whole hog. If it pumps I'll move more funds and get further overextended, overtrade my account and incur a huge margin call leading to another 90-day suspension, ROFLMAO! GLTA!