trading

[Antares Nebula]

No chance to trade this morning. Was going to buy puts on a bounce this AM, but it dropped like a rock right at open. So I just had to watch. If it bounces up to the 220 area I may buy next weeks puts. I think there is a greater than 50% chance that we test 190/200 fairly soon.

 

[defc0n]

Would now need over a 7% gain tomorrow to hit the current max pain. Given a large 3% or something nasdaq macro rally, it’s possible I guess.

I’m bagholding ALB currently and got burnt bad from this latest trade with it. So much for my winnings playing its earnings.

 

[defc0n]

Locked in big losses from ALB after a bit of a rebound today, Made a few bucks off of TSLA & LIT this morning. Shorting S&P once more thinking there may be more bad news over the weekend after a bit of a rally here.

 

[Cherry Wine]

Locked in big losses from ALB after a bit of a rebound today, Made a few bucks off of TSLA & LIT this morning. Shorting S&P once more thinking there may be more bad news over the weekend after a bit of a rally here.

I'm shorting into this bounce as well -- I am not convinced the market has gotten over its jitters.

 

[Nate the Great]

Any recommendations for options screener?

 

[anthonyj]

Got assigned 100 @230 and 100 @235 for the first time

Will sell calls at those levels soon

 

[Cherry Wine]

All other things equal, I’m expecting us to hit resistance at the mid-BB just based on recent activity within the stock. No real justification - just a guess.

 

[Cherry Wine]

Got assigned 100 @230 and 100 @235 for the first time

Will sell calls at those levels soon

What expiry?

 

[anthonyj]

What expiry?

Idk anymore, might just baghold for a little bit. I think we’re going to hear a pickup reveal date or v10 soon which should give me a good exit for these shares

 

[Cherry Wine]

Idk anymore, might just baghold for a little bit. I think we’re going to hear a pickup reveal date or v10 soon which should give me a good exit for these shares

What expiry were the puts you sold? 8/16 or future?

 

[anthonyj]

What expiry were the puts you sold? 8/16 or future?

Those were 8/16s, got assigned during weekend

 

[Antares Nebula]

Also now two more gaps just under 216 and 220. But strong bounce here. Interesting.

 

[Cherry Wine]

If it clears 235 I’ll get excited.

 

[anthonyj]

Wrote $230 call this morning for $254 bought back now for $180

 

[defc0n]

I'm still short S&P, but not terribly confident about it. Thought China should be releasing details about their retaliation for additional tariffs soon.

 

[anthonyj]

Tesla doing the usual staircase up, elevator down. 222 after hours. What a frustrating year.

 

[Cherry Wine]

Tesla doing the usual staircase up, elevator down. 222 after hours. What a frustrating year.

I'm getting less and less scared of selling covered calls and spreads. It will work until it doesn't of course, and I'll probably break even on all the profitable trades I'm making now.

 

[Antares Nebula]

I'm getting less and less scared of selling covered calls and spreads. It will work until it doesn't of course, and I'll probably break even on all the profitable trades I'm making now.

This is probably very true. But we are all degenerate gamblers.

I got into some 225 puts right at the top today for 2.15, but may have sold it prematurely for 3.00 near the end of the day. How was I supposed to know Wal-mart was going to sue Tesla. Ha, ha... Will tomorrow be a repeat of last Wednesday, only this time starting about 10 points lower? May have to get back into some puts tomorrow.

 

[EVNow]

This is probably very true. But we are all degenerate gamblers.

I got into some 225 puts right at the top today for 2.15, but may have sold it prematurely for 3.00 near the end of the day. How was I supposed to know Wal-mart was going to sue Tesla. Ha, ha... Will tomorrow be a repeat of last Wednesday, only this time starting about 10 points lower? May have to get back into some puts tomorrow.

When there was a price cut some weeks back - everyone was sure the SP would go down - and I bought puts. Needless to say lost money on that trade

 

[Antares Nebula]

When there was a price cut some weeks back - everyone was sure the SP would go down - and I bought puts. Needless to say lost money on that trade

I don't know what the TA was indicating then, but the TA now is pointing towards more downside (of course, it is still only probabilistic outcomes and nothing is definite).

If you're going to trade (not advised) you have to use both "news" and technicals (TA). Even though the house may win most of the time, if you're going to play Blackjack, you still wanna learn the rules.