WDC #fuzzy rolled the 37 DTE 70 call down to 65 for 1.25 credit. Cb now 17.78.
Some stuff on sale now for anyone that has cash. MU down 6.1%. Most of the chips are down. IBB, LABU, XBI all down nicely.
Interesting but a lot of the triple products are not down as much as some of the individual names in the indexes.
Personally I am finding them easier to trade. Not moving all my money into them but much easier to handle a 6 point drop in LABU than a 4 point drop in MU because the premiums are so much higher easier and quicker to work back to even or profit. Usually only takes 2-6 weeks. With the lower premiums I was stuck in GM for 22 weeks, looks like WDC and MU will be long termers as well.
Reversal signal on /ES on the new indicator, can’t post it, on a different computer. What is @fibwizard showing.
Taking advantage of the weakness in the chips. Rolled next week MU 54 call down to 16 DTE 50 call for 1.17 credit. Co
Probably do the same later with WDC if I have time.
Selling below the long leaps now so will have to be aggressive about rolling/managing.
New tool. Not advertising here but works well in chop. Not going full directional like @fibwizard but I think this will help with my #pietrades by pointing out the actual pivots in real time. I just can’t make it work for me because of schedule, wish I could I know there is money to be made there. So I need something that does it for me. Alphashark calls it the tide trader or something like that. Uses a combination of volume, momentum, oscillator (can’t figure out which one but I think RSI looking at the math) and ATR so it is a Frankenstein indicator. However, it already helped me to hedge my SPX hedge as I saw the reversal. Takes some adjusting to each name. You have to figure out which ATR works best for what you are trading or you get too many or not enough signals. On /es and most stocks a setting of 2 is god but NFLX/AMZN take 10s. Default is 0.5 and just too many signals.
Special is $259 but I don’t know how long. An upper indicator, the big arrows and a lower. Increasing green wave go long. Purple dot possible reversal point. Increasing red wave short. Can change it for any time frame. Easy enough even I cannot miss the signal. Only traded with it 2 times so far but is helping recover MU and WDC positions by letting me sell options closer to the money.
Will update as I use it.
#pietrades and trying to get some theta decay back, almost went negative on the core account.
TQQQ lot 1 65 cc expires this Friday for 63.88.
TQQQ lot 2 65 cc expires this week for 64.13.
SPX hedge, STO some 11 DTE 2550 puts to offset the decay loss on the long hedge. Sold for 1.1 dropping cost basis to 1.80. Should also be able sneak in another sale and then roll as calendar, back ratio, or risk twist. Still playing around with the most efficient hedge.
Sea of red in my core account (of course the most important one) but the other accounts theta is doing its job. After I clear out the WDC, MU earnings drops will be moving more toward ETFs to limit some of the single stock risk that keeps being affected by tweets. SMH will give coverage to that sector with decent premiums.
Not going full directional or advertising for them but alphashark has a new tool that picks up reversals very well. Currently it is $259, increases to 999 soon. Installed it last night. Have to adjust settings based on ATRs but seems like it works well. Seems to nail the reversal within a half bar on any time frame. Added it to some of my other indicators and will post some trades with it after I use it for a while and figure out the settings.
#pietrades and #optionsexpiration
Fragmented trading day here. They were working on lines near our house and internet kept going in and out which will explain my weird WDC trade.
WDC, keeps going down. Converted to LEAP #fuzzy earlier in week. Was trying to roll to next week at 70 but because of the internet issues it somehow rolled to 66. Ok so took in a lot of cash but then the internet went down for a few hours. Of course during that time WDC reversed so was losing $ on the new trade and deltas were already flat. So rolled out to 43 DTE and up to 70. Took in 1.32 on the 66 call but had to buy them back and roll for 1.02 debit. So anyway after all that, now have the 60 LEAP 70 43 DTE call spread for cost basis of 19.03. If we rebound will buy back 2-3 of the short calls to let it run. Break below 65 will collar it to prevent further losses. As long as it stays 65-70 should break even in about 6-8 weeks.
MU 55/54 diagonal looking ok. Cb 12.43.
EOG 43 DTE 115 put cost basis at 113.20.
TQQQ batch 1 will assign tomorrow at 60 for a 2.21 gain on each contract. Reset Monday, hopefully after at least a little pull back.
TQQQ batch 2 will assign at 59 for 1.75 gain per each contract. Both these are nice 2 week pay checks! Reset Monday.
AMAT batch 1. Rolled 47 cc out a week for 0.52 credit. Cb now 49.24. A few more weeks of rolling then will reset as #pietrade again.
AMAT batch 2 rolled 47 cc out a week for 0.5 credit. This is showing a profit of 0.81 per contract but may keep rolling if it stays in range.
XBI 87/96.5 and 95/96 #fuzzy. Waiting for more decay and will roll next week. Cost basis of 8.62 on first batch and 5.1 on second.
SPX #hedge 2550 put has lost a lot already but gained 0.15 late in the day. Currently 1.75, bought for 2.9. Hope I don’t need it but will roll it at least a week before it expires and change it to a back ratio or risk twist to limit costs. That will be a more efficient hedge.
Hope everyone is having a good week and expiration. Some new trades will be added Monday.
#pietrade conversion to #fuzzy
Sold WDC for 67.16 against cost basis of 72.34. BTO 60 leap in 2020 for 14.15 bringing new cost basis to 19.33. With 73 weeks left only need to collect 0.27 per week to cover. Already short the 70s 16 DTE.
Freed up 60k in margin for other uses.
I will be doing this a lot more with #pietrades that go way ITM. Much cheaper way to stay in the trade, less to lose, less to make up and plenty of time to do it.
Question for @fuzzballl since you do the most of these. On an annualized basis what are realistic returns for these? I personally come close to 100% but may not be managing them the best.