Besides the fact looking at the calls that expire this Friday still having incredible amounts of premium shows a little to much bullishness here!!
Where is the web site where you find this?
You can find lots of options data at www.CBOE.com
Why SPX has not bottomed, expect a huge decline, possibly below SPX 1500assive hit
Started by
dTraderB
, Apr 14 2020 08:07 PM
50 replies to this topic
#21
redfoliage2
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Posted 15 April 2020 - 09:03 AM
#22
12SPX
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Posted 15 April 2020 - 09:23 AM
I mostly sell the SP500 futures options so you can get quotes off of any trading platform but for example the 2900 call which expires this Friday still had a $8.00 print first thing this morning. Now I know volatility is high and we could possibly get there but with three trading days left thats pretty bullish. Even the 3000 calls closed at $1.50 yesterday which is high!
#23
dTraderB
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Posted 15 April 2020 - 11:25 AM
closed 4 SPY puts
LIFO
#24
redfoliage2
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Posted 15 April 2020 - 11:44 AM
This market is still very complacent, so expect more ST downside to go .............
#25
dTraderB
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Posted 15 April 2020 - 11:45 AM
and will close that ES LONG that served as a partial hedge (I do not like HEDGES! but I realize I should hedge large positions even with a small hedge)
with a very modest profit
NOTE how NQ is far stronger than SPX today
good hourly bottoming candles in crude
also ES Futures ...
#26
dTraderB
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Posted 15 April 2020 - 11:45 AM
This market is still very complacent, so expect more ST downside to go .............
yes, and maybe for a week or more
#27
pdx5
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I want return OF my money more than return ON my money
Posted 15 April 2020 - 11:55 AM
conclusion: no one knows or has a clue what the future holds. mainly because this covid lockdown has no historical experience of recent 100 years.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
#28
K Wave
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Posted 15 April 2020 - 12:10 PM
conclusion: no one knows or has a clue what the future holds. mainly because this covid lockdown has no historical experience of recent 100 years.
I am finding taking this day to day with no pre-conceived notions about longer term is working quite well thus far.
I can still see a bullish resolution possibility and a bearish resolution possibilty longer term, but that picture is nowhere near clear yet.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#29
CLK
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#30
dTraderB
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Posted 15 April 2020 - 02:42 PM
conclusion: no one knows or has a clue what the future holds. mainly because this covid lockdown has no historical experience of recent 100 years.
I am finding taking this day to day with no pre-conceived notions about longer term is working quite well thus far.
I can still see a bullish resolution possibility and a bearish resolution possibilty longer term, but that picture is nowhere near clear yet.
Sentiment is a valuable indicator that helps but even such an important tool may not be as useful in this environment
Recently, I see more value in the VOLUME data, as well as ST trading spikes up and down ... but I still treasure PURE PRICE ACTION more than anything else.
Many are still influenced by the recent super bullish action before the virus and are not fully understanding how bad is the economy and how worse it can get before getting better. You can be sure that shorting extended markets over a period of time (days to a week or two) is far more profitable than being too bullish.
Many yearn for those bullish on-way market but those days are gone for the near future.
