273 replies to this topic

[redfoliage2]

 

 

 

The market internals actually improved today, it looks now some insider players are buying the lows.  BTW, I just loaded some ES calls  .........................

This is the time to make big money in longer term for someone with insight to buy the lows ...................

 

The selling is losing momentum and a good bounce is in the cards for next week, and this is an IT buy ..................

 

Now it looks good for bulls -

https://www.reuters....rts-2024-04-19/

 

It looks that now both sides are looking into diplomatic means ........................ 

[12SPX]

Well this has been a a great quick lesson on how option selling works as the 5000 put expired worthless.  All expire worthless or only worth their real value in the end with the ES index closing at 5003.74, 3.75 points above the 5000 level.  My normal cycle trades are way out of the money but sometimes weekly trades can be profitable when people get to exuberant lol!!!  Should be a fun May cycle.....

[12SPX]

Also forgo about my call example for this past cycle was also fully profitable at $22.50 lol!! 

 

• Traders-Talk User
• 12,478 posts
• 0 warning points

Posted 09 April 2024 - 05:33 AM

Woke up to a flat market so it will be interesting to see if we have an exact duplicate of yesterday with the pajama traders to exuberant.  Still holding my short at 5240 and was taken out of my ndx short at 18350 as I said yesterday for a 10 point profit and now back in at 18360.  Getting tired of day trading might take a break soon as its so much easier just selling option premium.  Is nice watching the April premium really starting to fall off now as were in that 10-day period before expiration.  The 5400 call option that I put up here for an example at the start of this cycle initially at $17 then $22.50 with an add is trading at $4 now with 8 trading days left in this expiration cycle.  There are still high odds of this cycle being a down cycle which is around the 5117 cash level so we'll see how it goes, at this point I want it to stay above lol.....

[dTraderB]

NQ 17405 LONG