The Official Options Thread - Page 60

Blazed · 02-05-2024, 12:25 PM

Quote:

Originally Posted by Jichael Mordan

yo yo! I dont trade options but do day trade. 6 months consistently profitable trader after a LONG road.

Awesome! If you're interested in options check out the thread. I don't day trade or short equity but do add for longer term holds. Welcome to the forums.

Blazed · 02-06-2024, 09:29 AM

A lot of Fed speakers today in the afternoon, something to keep in mind.

SPX: 4950 key level

Watching:

TSLA: If it can hold below 180/181 we should start seeing the next leg down. Still looking for 160/155 area to go long calls.

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BABA update:

Quote:

Originally Posted by Blazed

BABA: getting close to my entry @ 70✅ - Filled 2k shares at my PT. Sold $70 puts 20 cons @ 9.50 for 1/17/25 for a $19k gain

Quote:

Originally Posted by Blazed

BABA: adding more BABA equity to my long term account and selling covered puts a year out.

BABA: getting close to my entry @ 70✅ - Filled 2k shares at my PT✅
BABA: adding more BABA equity to my long term account✅

Technicals gave me my entries, up over $25k on my BABA equity adds. Average fill 70.63. Learning to read technicals and finding good entries is so much easier than guessing.

Blazed · 02-06-2024, 12:09 PM

Quote:

Originally Posted by Blazed

SPX: 4950 key level

SPX: 4950 key level✅- Only trade I took today was puts @ break below 4950. Not seeing much right now.

Calling it a morning here. Biden's speaking so not trading during this. Will check back power hour.

In some NVDA puts a month out. Should test 650 this week then > 620 (check charts). First trim @ 650 and see what we do there.

ajlaxmn · 02-07-2024, 09:24 AM

Home sick today because I have symptoms of Flu A, been through the whole family so far. Not down and out as I'm hammering the tea/liquids/vitamins, so figured I'd trade.

Lots of Fed Speakers today. 5000 today? Waiting 15 mins per my usual. 4975 Key Level.

Two 500 contract orders on 0dte Calls. 4975 & 4985.

Blazed · 02-07-2024, 09:30 AM

Quote:

Originally Posted by ajlaxmn

Home sick today because I have symptoms of Flu A, been through the whole family so far. Not down and out as I'm hammering the tea/liquids/vitamins, so figured I'd trade.

Lots of Fed Speakers today. 5000 today? Waiting 15 mins per my usual. 4975 Key Level.

Watching this too. Also watching 4950 for a bounce if we get a pull back

Blazed · 02-07-2024, 10:05 AM

Took puts here @ 4975. Would like to take them to last close for a bounce.

Feds start @ 11, want to be done trading by then.

Edited to add:

Stop is a break above 4980 ATR.

ajlaxmn · 02-07-2024, 10:07 AM

Quote:

Originally Posted by Blazed

Took puts here @ 4975. Would like to take them to last close for a bounce.

Feds start @ 11, want to be done trading by then.

Also in 4975 Puts. Little sooner than you, so my fill may not have been as good. one contract, so probably looking at 4964 ATR for exit.

Blazed · 02-07-2024, 10:16 AM

Quote:

Originally Posted by Blazed

Took puts here @ 4975. Would like to take them to last close for a bounce.

Feds start @ 11, want to be done trading by then.

Edited to add:

Stop is a break above 4980 ATR.

All out. Broke above took a $2.6k loss.

R/R was there but we were also in-between levels.

They clearly want 5000. So 5000 reject on watch now.

ajlaxmn · 02-07-2024, 10:16 AM

Quote:

Originally Posted by Blazed

All out. Broke above took a $2.6k loss.

R/R was there but we were also in-between levels.

They clearly want 5000. So 5000 reject on watch now.

Out as well. $490 loss. Hahaha. Also watching 5000 reject.

Blazed · 02-07-2024, 10:18 AM

Quote:

Originally Posted by ajlaxmn

Also in 4975 Puts. Little sooner than you, so my fill may not have been as good. one contract, so probably looking at 4964 ATR for exit.

Hope you got out in time. That push was crazy.

ajlaxmn · 02-07-2024, 10:19 AM

Quote:

Originally Posted by Blazed

Hope you got out in time. That push was crazy.

I did. Waited for SPX to break and close above. maybe should have cut early due to the push up itself? Oh well, only $500.

Blazed · 02-07-2024, 10:30 AM

5k coming up. Took an early entry will add light again @ 5k if we get there.

ajlaxmn · 02-07-2024, 10:33 AM

Quote:

Originally Posted by Blazed

5k coming up. Took an early entry will add light again @ 5k if we get there.

Also in early entry, with my one contract. Hahaha.

Added a second contract to my position.

Blazed · 02-07-2024, 10:39 AM

Quote:

Originally Posted by ajlaxmn

Also in early entry, with my one contract. Hahaha.

Added a second contract to my position.

Nice! if you took 5k strike you're getting paid. Don't let it go red.

------------------------------

Added:

Still in full position looking for 4980 ATR and using 4990 as resistance.

ajlaxmn · 02-07-2024, 11:03 AM

Quote:

Originally Posted by Blazed

Nice! if you took 5k strike you're getting paid. Don't let it go red.

------------------------------

Added:

Still in full position looking for 4980 ATR and using 4990 as resistance.

I did take 5k strike. Sold one at 4990, just sold the other at 4983, don't want to hold through Fed Speakers.

$150 profit on the day after being down $450. All in all, not a bad day.

Blazed · 02-07-2024, 11:05 AM

Quote:

Originally Posted by Blazed

Nice! if you took 5k strike you're getting paid. Don't let it go red.

------------------------------

Added:

Still in full position looking for 4980 ATR and using 4990 as resistance.

All out here, Feds started speaking - close enough to the ATR - 3 points.

Contracts went from $1.3k > $1.9k - gains for the day (-$280)

Got most of it back so I'll take it.

Blazed · 02-07-2024, 11:07 AM

Quote:

Originally Posted by ajlaxmn

I did take 5k strike. Sold one at 4990, just sold the other at 4983, don't want to hold through Fed Speakers.

$150 profit on the day after being down $450. All in all, not a bad day.

Nice management!

Back at it tomorrow.

Blazed · 02-07-2024, 04:13 PM

Missed 5k by 11 cents that wasn't an accident

Tomorrow should be fun

ajlaxmn · 02-08-2024, 09:23 AM

Back at it today.

Key level 5000. Data at 10. Gap at 4958 (Blaze correct me if I'm wrong). Really want to not take a trade in the first 15 minutes, but will be tempted if we reject 5000. Going to lean towards not taking a trade though and stick to my 15 minute rule.

Blazed · 02-08-2024, 09:29 AM

Only trading strong signals today. Took a trade yesterday that had good R/R but wasn't A+ so won't repeat that again today.

SPX: 5000 key level / 5030 top / 4950 bottom - gap @ 4957.8

Watching:

TSLA: 184/85 area bounce or calls if we break and hold 190

NVDA: still have my puts.

Be patient and wait for confirmations. I won't be trading in between levels today, I'll be waiting for solid levels to hit.

Blazed · 02-08-2024, 09:36 AM

BTW data @ 10 - may or may not move the market.

Solid levels only today.

ajlaxmn · 02-08-2024, 09:42 AM

Pretty pathetic volume of the open.

Blazed · 02-08-2024, 09:53 AM

Quote:

Originally Posted by ajlaxmn

Pretty pathetic volume of the open.

True. Bids on SPX got up to 5000 so I entered puts @ 4997, still have 1 left to see where it goes. Using last close as resistance.

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Edited to add:

I meant to say the ask got up to 5000, not bids. Bids stayed @ 4995/96 so entered puts.

Blazed · 02-08-2024, 10:04 AM

Check out the flow. Long exp flow leading 0dte, long exp is more negative than 0dte exp. When this happens we usually see a reversal at some point.

Holding my put unless we get above 5000.

Blazed · 02-08-2024, 10:40 AM

SPX squeezing. Going to get a move one way or the other. I'm looking for 4985 for my runner.

Last close solid resistance so far.

02-07-2024, 09:24 AM	#1479
ajlaxmn Member Join Date: Nov 2009 Location: Turner, ME Posts: 7,256 ajohnbarker	Home sick today because I have symptoms of Flu A, been through the whole family so far. Not down and out as I'm hammering the tea/liquids/vitamins, so figured I'd trade. Lots of Fed Speakers today. 5000 today? Waiting 15 mins per my usual. 4975 Key Level. Two 500 contract orders on 0dte Calls. 4975 & 4985. __________________ Die hard Chargers Fan from the State of Maine. "Always with them negative waves"- Oddball "Uh-uh, I don't tip"- Mr. Pink Last edited by ajlaxmn; 02-07-2024 at 09:30 AM.

02-07-2024, 10:05 AM	#1481
Blazed Member Join Date: Dec 2011 Location: Houston, TX Posts: 3,074 Blazed Blazed	Took puts here @ 4975. Would like to take them to last close for a bounce. Feds start @ 11, want to be done trading by then. Edited to add: Stop is a break above 4980 ATR. Last edited by Blazed; 02-07-2024 at 10:08 AM.

02-08-2024, 09:23 AM	#1494
ajlaxmn Member Join Date: Nov 2009 Location: Turner, ME Posts: 7,256 ajohnbarker	Back at it today. Key level 5000. Data at 10. Gap at 4958 (Blaze correct me if I'm wrong). Really want to not take a trade in the first 15 minutes, but will be tempted if we reject 5000. Going to lean towards not taking a trade though and stick to my 15 minute rule. __________________ Die hard Chargers Fan from the State of Maine. "Always with them negative waves"- Oddball "Uh-uh, I don't tip"- Mr. Pink

02-08-2024, 09:42 AM	#1497
ajlaxmn Member Join Date: Nov 2009 Location: Turner, ME Posts: 7,256 ajohnbarker	Pretty pathetic volume of the open. __________________ Die hard Chargers Fan from the State of Maine. "Always with them negative waves"- Oddball "Uh-uh, I don't tip"- Mr. Pink

02-07-2024, 10:30 AM	#1487
Blazed Member Join Date: Dec 2011 Location: Houston, TX Posts: 3,074 Blazed Blazed	5k coming up. Took an early entry will add light again @ 5k if we get there.

02-07-2024, 04:13 PM	#1493
Blazed Member Join Date: Dec 2011 Location: Houston, TX Posts: 3,074 Blazed Blazed	Missed 5k by 11 cents that wasn't an accident Tomorrow should be fun

02-08-2024, 09:29 AM	#1495
Blazed Member Join Date: Dec 2011 Location: Houston, TX Posts: 3,074 Blazed Blazed	Only trading strong signals today. Took a trade yesterday that had good R/R but wasn't A+ so won't repeat that again today. SPX: 5000 key level / 5030 top / 4950 bottom - gap @ 4957.8 Watching: TSLA: 184/85 area bounce or calls if we break and hold 190 NVDA: still have my puts. Be patient and wait for confirmations. I won't be trading in between levels today, I'll be waiting for solid levels to hit.

02-08-2024, 09:36 AM	#1496
Blazed Member Join Date: Dec 2011 Location: Houston, TX Posts: 3,074 Blazed Blazed	BTW data @ 10 - may or may not move the market. Solid levels only today.

02-08-2024, 10:04 AM	#1499
Blazed Member Join Date: Dec 2011 Location: Houston, TX Posts: 3,074 Blazed Blazed	Check out the flow. Long exp flow leading 0dte, long exp is more negative than 0dte exp. When this happens we usually see a reversal at some point. Holding my put unless we get above 5000.

02-08-2024, 10:40 AM	#1500
Blazed Member Join Date: Dec 2011 Location: Houston, TX Posts: 3,074 Blazed Blazed	SPX squeezing. Going to get a move one way or the other. I'm looking for 4985 for my runner. Last close solid resistance so far.