Stock market.... What are you doing?

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  • CHCRandy

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    I honestly find options trading to be the fastest, easiest and largest ROI I can find.......you got to use stop losses, just like trading stocks. I got stocks I have jut bought and held, but it is boring. I make 10-12% dividend on them but they go up and come back down....I am going to start selling them and buying back later. I like the action. I was just sitting here thinking about buying just 1 SPX call before I go to bed....looking at 4300 that expire tomorrow for $4, see how this gamble goes, lol. Not good I imagine.......
     

    CHCRandy

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    Taken me all day to get back to where I was at midnight......lol, I think SPY heading to 440+. I bought 430 SPY calls this morning for .90 cents and they are $1.51 right now. About to call it a day!
     

    ancjr

    John 8:42-47 KJV
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    NyleRN

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    I am so angry at myself....I have been working this week so no time to trade. I bought 20 X Aug. 12 $415 calls @ .86 on Tuesday for $1700 total cost. I sold them at close Tuesday because I was afraid of the CPI on Wednesday....I sold for $1 and a few cents, like $1.03, like $2060. They expired today at $12.50 each, got scared out of $25K!!!!!!

    I love scalping, but I swear I have given away 50K+ this month by selling for scalp price and letting huge money get away. I had 405 calls last week......and did the same thing. I will try to hold next week.......but with my luck market will dump.

    Not sure how to fix that......I know I am sick of letting that big money get away. I will do better next week, I hope, lol.

    I have no idea what to expect from this market now.....it may keep running into September now, we make a new yearly high. What you guys thinking? I know one thing, when it gets bloated nice and fat......I am gonna start selling calls to open.
    But did you make money?
     

    smokingman

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    Fed for 6 months. We are raising rates and reducing our balance sheet.
    Stock for 6 months,nah....they are just playing.
    Today.

    The US dollar is also taking off like a rocket again. 108.8 I am still expecting it to hit 120 by mid October.
     
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    CHCRandy

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    I am adding SPY calls tomorrow....I think we bounce back after #'s in the morning. Had 418 calls for Friday but sold them at close. I think we go up and test the 200 at 431.......just 1 more time before market gets tanked hard.
     

    CHCRandy

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    Yup. Pretty big red candle there...

    View attachment 220257
    That hurt.....left a mark in my account and head. I went from up 100% to down 100% in the blink of an eye. Where do we go now? I have this bad feeling we break down bad here. Hard to find a red candle as bad as that. Almost a $20 candle.......amazing to me! Wiped out a weeks gains in 10 minutes.......

    Thoughts on the coming week?
     

    Nugget

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    I went from up 100% to down 100% in the blink of an eye.
    Ouch. Options: play stupid games, win stupid prizes.

    At least you were man enough to fess up to your beating. Most people that brag about their stock-picking genius on the internet usually forget to talk about the inevitable beat-downs they take.

    As I said previously in this thread, I'm guessing next week stocks will probably either go up, go down, or stay flat. Good luck with your tea leaves.
     

    Pepi

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    Glad I went straight cash on my IRA before the Russian invasion of Ukraine. I'm old and don't need to be investing anymore. I sleep good at night now
     

    ancjr

    John 8:42-47 KJV
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    That hurt.....left a mark in my account and head. I went from up 100% to down 100% in the blink of an eye. Where do we go now? I have this bad feeling we break down bad here. Hard to find a red candle as bad as that. Almost a $20 candle.......amazing to me! Wiped out a weeks gains in 10 minutes.......

    Thoughts on the coming week?

    As a continuing experiment, and referring to the chart, there is still downward trend in SQZMOM and RSI.
     

    ancjr

    John 8:42-47 KJV
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    Ouch. Options: play stupid games, win stupid prizes.

    At least you were man enough to fess up to your beating. Most people that brag about their stock-picking genius on the internet usually forget to talk about the inevitable beat-downs they take.

    As I said previously in this thread, I'm guessing next week stocks will probably either go up, go down, or stay flat. Good luck with your tea leaves.

    I'm 9% down on my SPY options, Sept 16th expiry, so no need to panic.
     

    CHCRandy

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    Ouch. Options: play stupid games, win stupid prizes.

    At least you were man enough to fess up to your beating. Most people that brag about their stock-picking genius on the internet usually forget to talk about the inevitable beat-downs they take.

    As I said previously in this thread, I'm guessing next week stocks will probably either go up, go down, or stay flat. Good luck with your tea leaves.
    Nah man.....losing is part of the game. If someone does this like I do, and they tell you they win 100% of the time...........they are a liar, plain and simple! Even the best have loser trades. Containing losses to small amounts is important. It's all about risk and reward.

    The good news is I only lost $1000 or less on options......I will make that back Monday by 10:30 am I hope. My bigger concern is the stock I own, I am down about $6000 on it...but it pays me 10% a year to own it, but I dont want it to fall if market sells off bad and I dont want to take the loss yet. Cannot afford to get my money tied up in it though. Guess I will just starting selling covered calls on it......at least make a lil extra over the 10% dividend, and wait for this country to get its act together.
     

    CHCRandy

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    I'm 9% down on my SPY options, Sept 16th expiry, so no need to panic.
    You mind my asking which ones you are in?

    I have to make myself start buying closer to the money and further out. I gave away a small fortune again last week. I had 415 calls that expired yesterday that I bought early in the week for $2....sold them at $3, they ended up going to $6!! Then I got 420 calls that expire Monday...paid $2 for them, they popped to over $4 and I didnt sell...........they are now worth about 2 penny each........smh! That happened in like 20 minutes......

    I love gambling...........that is my problem. I got to stop it. It is a losers calling. I bet on Powpow popping the market and he instead slashed my throat. I should have stayed on the sidelines or in puts. No chance of 420 Monday, so that money is 100% gone!
     

    ancjr

    John 8:42-47 KJV
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    You mind my asking which ones you are in?

    I have to make myself start buying closer to the money and further out. I gave away a small fortune again last week. I had 415 calls that expired yesterday that I bought early in the week for $2....sold them at $3, they ended up going to $6!! Then I got 420 calls that expire Monday...paid $2 for them, they popped to over $4 and I didnt sell...........they are now worth about 2 penny each........smh! That happened in like 20 minutes......

    I love gambling...........that is my problem. I got to stop it. It is a losers calling. I bet on Powpow popping the market and he instead slashed my throat. I should have stayed on the sidelines or in puts. No chance of 420 Monday, so that money is 100% gone!

    DIA $328 & SPY $412

    It may well be best to bow out and take the loss on open Monday the more that I look at the charts and what the dollar and bitcoin are doing...

    The market doesn't have to be a gamble... but, I am aware many people do like to do so...

    Selling options let's you be the house for the gamblers, and that's a great position to be in. :):

    I'm working on obtaining the discipline to restrain myself to stop day/swing trading and selling monthly options alone. It's the least stress, easy money, literally sit back and watch the money come in, even more so than buy & holding shares or dividends.
     
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    CHCRandy

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    DIA $328 & SPY $412

    It may well be best to bow out and take the loss on open Monday the more that I look at the charts and what the dollar and bitcoin are doing...

    The market doesn't have to be a gamble... but, I am aware many people do like to do so...

    Selling options let's you be the house for the gamblers, and that's a great position to be in. :):

    I'm working on obtaining the discipline to restrain myself to stop day/swing trading and selling monthly options alone. It's the least stress, easy money, literally sit back and watch the money come in, even more so than buy & holding shares or dividends.
    Me too. I will probably always do my 1% day trade every day.....that's when I use no more than 1% of my portfolio to scalp.......but a very good friend of mine was just pointing out my flaws last week. He said if I would just sell options, instead of buying......I would be so much better off.

    Think I will take his advice and start selling puts, with my escape route being if I sell puts and shares get put to me, immediately starting to sell covered calls. Same thing with calls....I can sell covered calls and if they get called away, I'll just buy em back, if they dont I will roll em out either another week or month, and collect more premium. I really like this with Ford......2 ways to play it, imo. You can buy shares and sell covered calls and own the stock for free in 12-15 months.......or you can sell the put spread and collect that premium until shares get put to you, then go into selling the covered calls.

    My buddy was explaining to me......80%+ of options expire worthless, so why not join the 20% worthless club? That at least gives you like 4-5 times better odds of winning........am I correct?
     
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    CHCRandy

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    The secret is finding high volatility options so that you really benefit from the time decay.
    What do you consider high volatility? 50% 100%.....?? I'll be honest, I don't fully understand that stuff.........I just recently learned what Delta and Theta was, lol.
     
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