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re: Options Trading Thread
Posted on 2/2/24 at 9:52 pm to Jag_Warrior
Posted on 2/2/24 at 9:52 pm to Jag_Warrior
bought spx 4950/5000 vert for 5.20 yesterday and sold most for around 25 today 
Think we get 5k spx next week. Powell on 60 minutes Sunday I heard. Maybe look for a dip Monday and put on a butterfly call 4975/5000/5025 for Friday expiry
Gotta think we are getting close to a pullback, breadth been underwhelming, but all the flows are still looking at upside til March. This will be interesting, I am beginning to get close to all cash in trading account.
I may start taking a play out of Jags book and sell some vert call spreads in the next few weeks.
Think we get 5k spx next week. Powell on 60 minutes Sunday I heard. Maybe look for a dip Monday and put on a butterfly call 4975/5000/5025 for Friday expiry
Gotta think we are getting close to a pullback, breadth been underwhelming, but all the flows are still looking at upside til March. This will be interesting, I am beginning to get close to all cash in trading account.
I may start taking a play out of Jags book and sell some vert call spreads in the next few weeks.
2
Posted on 2/3/24 at 8:18 am to thatguy777
quote:Ca-ching!
bought spx 4950/5000 vert for 5.20 yesterday and sold most for around 25 today
You bought a vertical not so far off from what I sold (4970/5000 SCV). I made it out with max profit, but just by the skin of my teeth… while you made a crazy one day return. You made an excellent trade.
Was it (mainly) a technical signal or something like moneyflow that led you into that trade?
quote:
Gotta think we are getting close to a pullback, breadth been underwhelming, but all the flows are still looking at upside til March. This will be interesting, I am beginning to get close to all cash in trading account.
I may start taking a play out of Jags book and sell some vert call spreads in the next few weeks.
In an investment account, I pulled the trigger a bit early on some longer dated SPX short call verticals. But I do agree that with these rather extreme recent moves upward, I still see that as the correct directional play. But with the VIX still relatively low, I’ve been looking to take a page out of your long playbook for awhile.
Posted on 2/4/24 at 6:59 pm to thatguy777
quote:
Think we get 5k spx next week. Powell on 60 minutes Sunday I heard. Maybe look for a dip Monday
Futures dipping after Powell on 60 minutes. May be an opportunity to get long in the morning and look for 5k spx next week. I may go 5000/5025 vert call spread for Friday expiry. Looking for market to overshoot 5k briefly. Let’s see what happens in the am.
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