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Stock Picks and Trading · Picks and Pans Since Jan 2020
sandjco
msg #152160
5/11/2020 7:44:27 PM

Was seeing what Mac was seeing....
https://www.stockfetcher.com/forums/Stock-Picks/SPY-at-apex/151784/10

Picked up SPY May 18 297C at $1.60 IV 19 and Delta of .32



Stock Picks and Trading · Picks and Pans Since Jan 2020
sandjco
msg #152155
modified
5/11/2020 3:49:21 PM

Thanks Xarlor! Will keep those in mind!

Bought INO May 29th $14C for $1


Hmm a Delta of 30...forgot to check that bruh!


Stock Picks and Trading · Picks and Pans Since Jan 2020
sandjco
msg #152147
5/10/2020 7:50:11 PM

Amazing! So much to soak in and so much to learn - which makes the journey exciting and the same time daunting! Thank you Xarlor!

Yes, I like that Options site you suggested...they make things simple to understand. Right now, I just don't get it why the "terms" (Theta, gamma, etc..) are challenging for me to digest and fully understand. Guess like my SF journey...won't happen right away.

I know you help a lot here at SF...do you mind me asking what is your favourite "set up"?

I thought I found love with RSI2 till luckily discovering that it can be dangerous. I still haven't found what I am looking for. I am continually looking for trying to catch the "swoosh" set up to no avail.

May your all your fills be profitable. This market looks like it doesn't want to stop yet.

Stock Picks and Trading · Picks and Pans Since Jan 2020
sandjco
msg #152137
modified
5/9/2020 10:33:23 PM

Thanks Xarlor! My head hurts after that lesson!

This link has the SPY ROC thing I was trying to describe...
https://stockcharts.com/articles/chartwatchers/2020/05/this-reliable-longterm-indicat-800.html

I guess I need to dip my toes in these brand new options territory! I assume that my broker would see my 10 contracts of Jan 2022 3C and therefore would allow me to "sell" 10 contracts of the short dated calls provided I have enough money in the account.

Question Xarlor if you don't mind:
- For a CALL option, if there a significance between "bought at ASK" vs "bought at Mid or Bid"?
- For CALL or PUT; does Volume traded vs Open Interest mean anything?
- Is there a way to compare current stock volatility vs its historical volatility?

I find the world of Options so fascinating (despite my brain not being able to catch up easily on the math/terms). TBH, I fear that maybe I shouldn't delve in too much as it may mess up a good thing going with my simple minded approach right now.

Many thanks as always. Your gift of knowledge is appreciated; I feel like a little kid staring at a candy shop called options! Please don't hesitate to respond via email if you wish; I promise I won't spam lol!

Stock Picks and Trading · Picks and Pans Since Jan 2020
sandjco
msg #152127
modified
5/9/2020 5:02:49 PM

Thank you Xarlor as always! My email is sandjco@gmail.com and for sure I am keen to learn (albeit, my brain is not mathematically wired so it might take time for me to figure things out!).

Question: how do I code say the 1 yr ROC of SPY crosses above 0 (and use that as an indicator of the bull/bearish market) BUT would like the option of either using weekly or monthly ROC of the SPY? This is what I got:
Fetcher[set{spyc, ind(spy,close)}
set{x, count(ROC(spyc,252) above 0,1)}
]



Now on to the options...I think I get the concept:
- I am essentially "selling" short term calls with the probability that the price does not go above the strike price in order to collect the premium and repeat it enough to lower my cost base.
- to do this, I need to always have a further dated call as a "collateral" to sell because I do not want to buy(?) the stock.
- I like the idea as I have a load of index leaps bought cheap that my emotions are not wanting to let go (I realize if the market turns against me, I will lose some of those gains - always a struggle for me to be "happy" with profits. Greed gets the best of me sometime).

Now, on selling the shorter term calls to collect premium...I would hazard to guess that I should look at doing that with higher IV strikes combined maybe with the stock at the upper BB or RSI > 90?

I am not sure if conceptually I am on the right path or maybe my brain is going to a place where it should not go ....

Thanks!

Stock Picks and Trading · Picks and Pans Since Jan 2020
sandjco
msg #152124
5/9/2020 12:02:35 PM

I don't mind you asking at all Xarlor; always grateful with the feedback I get here from well intentioned traders who are helping me grow!

sandjco
533 posts
msg #151934 4/27/2020 5:39:39 PM

YOLO?

Picked up 50 contracts using $3 as cost basis of the Jan 2022 $3C.

Yes, absolutely went over my position sizing limit for options. Yep, maybe getting too drunk with results. Yep, agonized over pulling the trigger for 1 minute.

Will sell if contracts lose 50% of its value...



My cost was $3 for 50 contracts and then I sold 40 contracts at $2.60. The remaining 10 contracts are now at $1.80 a piece. So, Im down $1600 from the 40 I sold and sitting with an additional paper loss of $1200 with the remaining 10.

Funny (but not) part of pulling the trigger was that my gut was telling me buying 50 contracts was a derp play for HTZ...pulled it anyway quickly so as not to "over think"....

Given the long dated call; my "get even" plan was to scale back into the play IF it starts moving.

Stock Picks and Trading · Picks and Pans Since Jan 2020
sandjco
msg #152118
modified
5/9/2020 12:17:48 AM

Thanks Xarlor! I haven't seen that and I appreciate you sharing.

Interestingly....my "belief" and "expectations" was that the market would tip given the corona virus stats despite the trend showing that it was "still" on an uptrend.

That belief led me to buy puts and SRTY BEFORE any indicators for a correction flashed (hence, I was leading my "beliefs" dictate my trades). What has provided me with more than the necessary cushions were the calls bought when it was a gong show (which I am now having to face with the decision to liquidate or not). However, that also provided me with the false arrogance to trade HTZ and didn't "think twice" of the possible loss holding long dated calls.

So..in the end, I am not happy with how I reacted to what was in front of me as I let emotions dictate what I was trading. That is the part that I am trying so very hard to improve on. Based on my recent trades (HTZ, SRTY, AAPL puts and SPY short), I have miserable failed and my mistakes are falsely masked by the huge gains on my other calls bought without emotions.

I know that I cannot succeed long term if I keep on making the same mistakes. I am not sure if there is a quick fix as it is solely up to me. I also find sitting on cash so difficult specially when one has reaped the returns so easily.

Maybe I am over thinking this....I am continually being humbled by Mr. or Ms. Market. And so it should be given my lack of maturity in being able to deal with its whims.

Didn't post it..but I scalped TWLO, BYND, EVBG, ENPH and AYX. Didn't care about buying the "low"; focused merely on catch the 80% of the possible run. I should be more than happy but I don't know why the mistakes I made are bothering me so much. I know it is a "me" problem.

Thank you for dropping by and sharing; I appreciate it.

BTW..the other thing I do know...as long as money can be "printed"....it can fix most issues; we just end up paying for it one way or another...i have to listen to the market...till it says bear...the trend is up.

Stock Picks and Trading · Picks and Pans Since Jan 2020
sandjco
msg #152114
5/8/2020 6:32:22 PM

3MM Americans lost their jobs...and the markets have been on a tear since Mar lows. IF that ain't a bull...don't know what is!!!

The market really does seem to look ahead....

Stock Picks and Trading · Picks and Pans Since Jan 2020
sandjco
msg #152057
5/5/2020 11:13:08 AM

Getting my tush handed to me with the shorts; closed for losses. Will stay on the sideline to ponder about life....;=P

Stock Picks and Trading · Picks and Pans Since Jan 2020
sandjco
msg #152049
modified
5/4/2020 2:29:05 PM

Sell in May and go away apparently....SPY closed at 282.79 on May 1st. Lets' see what happens; March low was 222.95 a 60 point swing.

Apparently, we will drop another 40% from here....given the states are trying to re-open. Could the "re-opening" and then the possible consequences of it spreading again be the fuel to tilt the market or are these just noise?
https://www.marketwatch.com/story/this-year-is-lining-up-exactly-like-the-2000-dot-com-bubble-crash-stocks-will-drop-40-from-here-former-goldman-manager-says-2020-05-04?siteid=yhoof2&yptr=yahoo

The big FANGs have reported...what is the upside in holding before the next earnings releases? Uncle Warren apparently dumped his airline holdings and is sitting on a 150B cash.

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