This is the last few days of /NQ with the new tool. Getting close to @fibwizard but unfortunately have not had time to trade it and if I do have time will sell options at the pivot points on qqq instead of trading the futures.
Not sure if anyone has seen our headlines lately. Long story short…technical glitch allowed pilots system wide to drop trips in December that normally wouldn’t be allowed. Now we are looking at tons of open flying that nobody seems interested in even after the company offer of double time to pick them up. I believe the company is downplaying the severity of this to preserve holiday bookings…
I could be totally wrong too. I hope so since I’m on call over Christmas and New Year’s…LOL But…if we get a little news story about how maybe everything isn’t as it may seem, I’m going to take a low risk shot at some downside using the @vxxkelly butterfly hedge. Tiny risk for possibly decent reward. I don’t see an implosion but possibly a small pullback so love the idea of trying to do it for a credit.
Have to double check the numbers when the market is open but right now the 49/47/45 or 48/46/44 looks like pretty good risk/reward.
Been a busy few days with market shenanigans for me. I was feeling a little overwhelmed keeping up with all the really great posts here, plus being an active participant at Simpler. Something needed cut…so I decided to take a little sabbatical from Simpler so I can have a tighter focus on things. Trading is not a hobby for me, it’s big responsibility, and I was getting a little too sidetracked with chat room stuff. I track unusual options activity (fund flow) via Trade Alert, and that was getting neglected too. Just putting focus back on that a little more today has already paid off.
Re trades, I usually have over 20 a day, so that’s too much to recap here, I need to find a way to give broader brush strokes with rare episodes of brilliance huh?
Good trades: The RH earnings run up was great, tested out with a very high win rate and the win rate continues (snagged 40% on long calls). Tomorrow is a PIR earnings run up trade with high historical success. The FAS #SyntheticStock diagonal was closed out for over $1400 profit.
Losers: I finally scratched off LRCX for a reset, saw a $14K loss on it, even after many adjustments. It’s my tax loss sale 🙂 I reset LRCX with a #PutRatioSpread, one of my fav setups on a stock that’s been hit hard. I have a new break even of $165. Losses on NDX/SPX #Bitties, but saved thousands in defense.
Active Trades: Got a lot of defense going on an LMT failed squeeze play. Lots of adjustments and layers added to extend range. It will be really satisfying if I can pull some green out! I’m pretty sure I can.
JPM: Opened a @fuzzballl trade on it this morning. Mar 105/105 #Synthetic with Mar 95 protective puts and a Dec 108 short call for very nice premium. The first round of short term premium covers the protective put cost. Other than that doing some #ReversionToTheMean trades on some parabolic stocks that seem to be working out well, quick profits on BePS on little retracements.
Hope everyone is doing great will catch up on posts tonight. Thanks always for the great ideas.
$SPX STO 1/9/2017
2500/2525 BUPS @ 1.45 Thank you @jeffcp66
Closed Early (I think this is better than closing late)
$SPX BTC 12/8 2675/2650 BECS @ 3.00 STO 11/9 for .55. Where is my R/R analysis? Should have waited, but who knows?
$SPX BTC 12/6 2615/2640 BUPS @ 32% profit If waited until end of day it would have been a big loss
$SVXY #CoveredPuts – Sold SVXY Dec 8 2017 85.0 Puts @ 0.17 after hours with the stock at 111.10.
These expire Friday.
$NUGT #ShortPuts – Sold NUGT Dec 29 2017 23.5 Puts @ 0.47. Lowest available strike for this expiration.
#nofun Don’t trade earnings-the spoilsports