Time to be AGGRESSIVELY SHORT ? IT top forming

Awesome, out for 5 points and back in within with a short build at 4155 lol! 

Just taken out for another 5 point profit as I moved my profit stop.  Trading likely mostly done for the day so will just start building a short from 4153.

Well.....   I've decided to only be long, and play medium term since I have a day job that is not day trading...   So still evaluating what to buy and right now have 4 buckets to play with...     1 bucket is TLT, the other bucket is GDX and have been in them for 6 weeks and looks like I will stick with them for now.    The two other buckets are out of the market looking for a long ETF..    I do have this week consider a greater risk of downside, so keeping my powder dry for now.

Should have been a good play the past couple months.  For a swing trade great but doing a daily maybe not so good.  Starting my short build at 4153! 

I'm sorry just can't help it, took profits at 4149 for a 4 point gain.  Will start selling at 4153 again lol!! 

It looks a profit taking day after the last two day's bounce.  Let's see how much it has to consolidate ...................

Edited by redfoliage2, 17 May 2021 - 12:05 PM.

Covered earlier buying the close. (JMHO)

I'm sorry just can't help it, took profits at 4149 for a 4 point gain.  Will start selling at 4153 again lol!! 

Hello Sir, 

Selling SPX June 4300,   how much margin is required to shorting 1 spx call?  and what broker ?  Thanks a lot!   

 

I'm sorry just can't help it, took profits at 4149 for a 4 point gain.  Will start selling at 4153 again lol!! 

Hello Sir, 

 

Selling SPX June 4300,   how much margin is required to shorting 1 spx call?  and what broker ?  Thanks a lot!   

 

Morning, had this all typed out last night and forgot to post lol!  The margins depend on what your doing.  Not sure what the cash margin would be right now except that a naked sell would be incredibly high so you would need to do a protective buy to bring it down.  I used to trade the big SP500 futures index but the e-mini has become the most popular as its electronic so much easier and faster.  Margins vary according to your broker but since last years March volatility they have been held higher but at the CME it is listed at $11,000 maintenance right now.  If your limited on capital you could also buy a way out of the money option that would reduce it also, like maybe a 4400.  I could also suggest that you start with the mini emini options as they only have a 5 multiplier compared to the e-minis 50 or the big sp500 250 which to be honest don't even know if its being traded anymore as its been so many years since I've used it lol!  Not sure what the margins are but I'd assume 10 times less.  You'll know as soon as try to place your trade but a great way to learn how to sell options.  The nice thing about selling futures options is that you can sell same month call and put options for one margin as the expiration can only be one place whereas with the cash market you have to put up margins for both sides.  For brokers I am now using Interactive in Canada although have accounts with RJ Obrien America also but don't use them much anymore.  Interactive is simple and easy to use.    

The 4300 call is pretty tight and will depend on where we finish this expiration cycle to see if it will be a long hold or not.  I won't know till the weekend but hope it works out for you.