This is a crucial point. Institutions set the market. They have prices they want to sell at and they're going to sell at those prices. "Gains" is a retail concept where we theorize there will be gains above some level, based on the chart, flow, or whatever tool we use. Those tools are used to gauge what the big dogs are doing. They are the sharks and we hope to swim with them. They're not trying to beat us. They're above the game.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Beat this, when LEAPs go bad...
STC 100x GOOGL 24/01/19 +c150 @0.97, net -$24.03!!! Realised loss of $240k
STC 100x GOOGL 24/01/19 +c150 @0.97, net -$24.03!!! Realised loss of $240k
[Last one so I don't flood the thread with these]
Sells keep growing, is that a sign for us? Are new buyers becoming the exit liquidity for the big bois here?
Time to scale out of longs/sell calls/buy puts? Not being alarmist, just asking so we can learn.
Sells keep growing, is that a sign for us? Are new buyers becoming the exit liquidity for the big bois here?
Time to scale out of longs/sell calls/buy puts? Not being alarmist, just asking so we can learn.
It often ends one way. The stock flags below some big resistance. Next day, it pops on some news or with macros. Now the big dogs are given a golden $5 opportunity and real sell comes. So I do see 265. But can we hold it? I don't know.
Thanks. Can you add a line what you're seeing with these when you post so those of us here can benefit from the data?
Allow me to venture a guess: you were either a project manager or a community college professor at some point.
SpeedyEddy
Active Member
must be safe, 270 would be a big one to break this week as we enter an area of old supports/resistances.
for now, 260 is possible around lunchtime, but it looks more like we're gonna catch some breath around 254.50.
Looks like it might be repeating yesterday's waves, only a bit higher:
Read the EWT intro book I linked a couple or 3 days ago. 110 pages - more like a big pamphlet than an actual book. Then read it again a few times - just once through, plus the stuff I'd previously picked up, and it makes a lot of sense.
@adiggs seeing your interest in EW, might suggest you follow @zacmannes on X… he sometimes posts TSLA charts to give a glimpse of his regular work which is at ElliotWaveTrader, to which I have subscribed for several years. Zac and his mentor Avi Gilburt are the best (imo) at combining EW theory with Fibonnaci theory. Good luck and hope this is helpful
Jim usually gives us an excellent summary. Hope for his post.
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One reason that I don't like trading spreads is truly trivial and yet it also gets me over and over. Setting a limit price, which I usually choose as the mid point, I find myself chasing pennies and losing nickels, dimes, or more. But I ~never gain nickels or dimes over market orders. Of course this doesn't apply to options with large bid/ask spreads.
Today my example - I'm opening call spreads for this Friday; -275c/+305c. Original offer in first set and account was .18. Second offer for a second set, in a second account, was also .18. Both midpoints - neither hit when I made the offer. A few minutes later the second set was filled for .18, the spread was trading at .19, and the first set hadn't filled. I've seen this with spreads - its like they have more market attention when the offer is opened, but if they sit for a bit they can grow stale and not fill at all.
But no problem - I adjusted the spread up to .19 and it didn't fill.
Now that spread is .15 / .16 / .17. This is why I've mostly moved to market orders on single leg trades / when I can. When the bid/ask is wide then I use a Limit order. In this case I can go chase and lose the few cents, I can wait and hope it comes back (I'll go with this choice, this time), and/or I can whine and complain about missing a fill again
Today my example - I'm opening call spreads for this Friday; -275c/+305c. Original offer in first set and account was .18. Second offer for a second set, in a second account, was also .18. Both midpoints - neither hit when I made the offer. A few minutes later the second set was filled for .18, the spread was trading at .19, and the first set hadn't filled. I've seen this with spreads - its like they have more market attention when the offer is opened, but if they sit for a bit they can grow stale and not fill at all.
But no problem - I adjusted the spread up to .19 and it didn't fill.
Now that spread is .15 / .16 / .17. This is why I've mostly moved to market orders on single leg trades / when I can. When the bid/ask is wide then I use a Limit order. In this case I can go chase and lose the few cents, I can wait and hope it comes back (I'll go with this choice, this time), and/or I can whine and complain about missing a fill again
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