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We are going to see a beautiful scene in the next few days


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#11 alexnewbee

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Posted 04 October 2018 - 02:01 PM

Good call, so far.
"we do G.d's work" Lloyd Blankfein

#12 diogenes227

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Posted 04 October 2018 - 05:37 PM

Sooner or later with a declining NYSI...

 

From the linK:

 

At the moment, the in-the-money 292 put for Friday’s expiration is up 110%, $10K-Plus for each $10K in play.

 

I define a “trending day” as anytime the calls or puts on the day trade close up with a profit of more than 100% on my system trigger.  That, of course, is yet to be seen today (will update on the close).

 

There have been 27 trending days so far this year.

 

 

SPY OPTIONS

 

UPDATED ON THE CLOSE


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#13 diogenes227

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Posted 05 October 2018 - 10:35 AM

SPY OPTIONS - TODAY'S 291 PUT


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#14 tradesurfer

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Posted 05 October 2018 - 10:59 AM

you only day trade the SPY options?  So just go 1 week out and then day trade it each day of the week



#15 bighouse1006

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Posted 05 October 2018 - 11:14 AM

Risk reward the returns are much better with out of the money options on expiration. I like to use QQQ on Fridays. I have a low today for the RUT. My turn call for Wed. worked out well. I am building long positions today.

#16 diogenes227

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Posted 05 October 2018 - 11:17 AM

you only day trade the SPY options?  So just go 1 week out and then day trade it each day of the week

 

The biggest bang for the buck, to say nothing about the liquidity, is in the nearest expiration.  For instance, at the moment, today's 291 put is up 111% on my entry signal, next Friday's is up 66%.

 

It comes down to whatever one is comfortable with, particularly on the entry (and after that it is all defense). 


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#17 bighouse1006

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Posted 05 October 2018 - 11:25 AM

QQQ 182 weekly puts opened around .50 and the low was .26. Bid 2.15 right now.

#18 tradesurfer

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Posted 05 October 2018 - 11:30 AM

look at the WEEKLY candlesticks and how they close today for the VIX, QQQ, SPY etc.

 

This is starting to look like we get a follow on huge weekly candle down next week similar to February 2018

 

if true, then it would seem wise to trade puts for another full week down next week


Edited by tradesurfer, 05 October 2018 - 11:30 AM.


#19 diogenes227

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Posted 05 October 2018 - 11:33 AM

QQQ 182 weekly puts opened around .50 and the low was .26. Bid 2.15 right now.

 

Yup. The SPY 289 put, not that far out for an ETF at opened at 289.69, went as low as .16 today, was a buy on my signal at .53 and are, at the moment, up 275%.  Out of the money is huge but just in the money is oftentimes safer (or at least feels that way) in a dangerous game. smile.png


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#20 bighouse1006

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Posted 05 October 2018 - 11:34 AM

The major indices are at different points. I would prefer a close on the lows of the day even though I am building long positions. For the Rut you will know as soon as Monday if this is going lower.