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mr.belowaverage posted:Am I wrong to think that wouldn't even be worth the clicks to me? I make a few hundred bucks from a day on a good trade, which costs me maybe half an hour a day. Bad days, I lose a little. It’s a little bit of income. I’ve never gotten into the $500/day rolls or WSB YOLO massive returns.
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Apr 28, 2020 15:41
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https://twitter.com/NewYorkFed/status/1255141162731495427?s=20 I hope there's a chapter on moral hazard
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Apr 28, 2020 15:45
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Please tell me they sent a set of those to the White House.
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Apr 28, 2020 15:47
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mr.belowaverage posted:I think I might be like most newbies thinking each trade needs to be a big win vs. racking up the small net profits? I'm not so sure about that. I think most newbies would be overjoyed to take small profits on most trades. The problem is when you stop at first base when you could've hit a home run. (Or conversely when you have a loser, refuse to admit it, and it turns into a GIANT loser.)
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Apr 28, 2020 15:47
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mr.belowaverage posted:This is my question, too. You guys doing options, do you normally buy small priced items, like those for $1.08? Remember option contracts are for 100 shares. So I say I got in at 1.08, which in reality cost me 108 dollars. I got out at 1.50, or 150 bucks, so I made 42 dollars. So I gambled my account down to 400 bucks (currently at 507 now so +25%ish), so I'm trying to make small single option trades, and just scalp a little profit here and there. Yesterday I made another trade SPY took off like a rocket in the AM, and my thesis was there was going to be a slow sell down over the day. I picked up a 01 May SPY 285 P @ $2.88 (cost $288.00 at 11:49 EDT and sold it at $3.10 ($310.00) at 13:32 EDT. +22 dollars which I was lucky to get as SPY just really didn't move much during the day and volume was low. I know the market is going up, but I've noticed a bit of a pattern and thought I could scalp a little money off an option during the day. The other was the one we're talking about which worked out for +42 bucks Combined I made 64 dollars in "profit" minus fees of course, but I'm "gambling" (and this is gambling) small amounts. The guys here trading /ES or trading 10 or 50 option contracts at time have a way bigger gambling fund than I do. I don't have the bankroll to chase big wins, so I'm trying to just scalp small profits from options that expire soon (premiums are lower), and slowly build back up so I can play longer, possibly more profitable options again. mr.belowaverage posted:Yeah, that's my understanding. Thats up to you. This is really more about having fun, learning about the market, and basically the rush of gambling on something. Sports are gone, and I can tell you a poo poo ton of sports bettors have moved to the stock market. I'm not trying to get rich or anything, just having fun really. I look at it as gambling really. I'm betting 108 bucks that the SPY goes up. (Note: It's way more complicated than that), and if it does I sell the option to someone else for a little profit. Sometimes I gamble it goes down. Either way I try to make a little money. I've lost over 1500 dollars since my starting point, but I've learned a ton.
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Apr 28, 2020 15:49
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pmchem posted:https://twitter.com/NewYorkFed/status/1255141162731495427?s=20 It was only weeks ago that I learned Kansas City and St Louis are separate Fed Districts. Or I guess that the Kansas City Fed existed, the St Louis Fed is the king of data statistics.
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Apr 28, 2020 15:50
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Bought some spy 280 puts expiring May 1. Got in at 1.40. Let's see.
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Apr 28, 2020 15:51
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Oh Jesus that red candle!
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Apr 28, 2020 15:55
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Glad I switched to /ES puts. Sitting on 20 contracts
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Apr 28, 2020 15:55
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Oscar Wild posted:Bought some spy 280 puts expiring May 1. Got in at 1.40. Let's see. Nice! What's your exit?
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Apr 28, 2020 15:57
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https://twitter.com/LiveSquawk/status/1255148126018494467?s=20
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Apr 28, 2020 15:57
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skipdogg posted:Nice! What's your exit? Not sure, hoping I can get .30 or .40. Small bet. Edit got out at 1.90 Oscar Wild fucked around with this message at 16:00 on Apr 28, 2020 |
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Apr 28, 2020 15:58
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Sepist posted:Glad I switched to /ES puts. Sitting on 20 contracts Jesus dude. Tell us your profits after the day here, that's insane. First I misread that you shorted 20 contracts which would be $2.8 million in puts. I don't know why but futures options are tough for me to understand. Inner Light fucked around with this message at 16:02 on Apr 28, 2020 |
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Apr 28, 2020 15:59
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Oscar Wild posted:Not sure, hoping I can get .30 or .40. Small bet. If I'm looking at the right option, the current ask on my platform is 1.95. I got paper hands I'd be out already lol
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Apr 28, 2020 15:59
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skipdogg posted:If I'm looking at the right option, the current ask on my platform is 1.95. I got paper hands I'd be out already lol Lol yeah it blew through. I'm out at 1.90
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Apr 28, 2020 16:01
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Oscar Wild posted:Lol yeah it blew through. I'm out at 1.90 9 minutes. +35% nice job
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Apr 28, 2020 16:03
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Inner Light posted:Jesus dude. Tell us your profits after the day here, that's insane. First I misread that you shorted 20 contracts which would be $2.8 million in puts. Not crazy, just closed it out for +$5,500 e: I didn't get puts in at the top, otherwise this would be a poo poo ton more Sepist fucked around with this message at 16:20 on Apr 28, 2020 |
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Apr 28, 2020 16:07
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USO will be undergoing an 8 to 1 reverse split.
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Apr 28, 2020 16:10
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Sepist posted:Not crazy, just closed it out for +$5,500  Not crazy to you. Nicely done. Think that type of trade is possible without watching it like a hawk? Also say if you were all cash no equities, would you have shorted the contracts outright or do you prefer the option for some reason?
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Apr 28, 2020 16:10
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What is /ES
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Apr 28, 2020 16:11
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LLCoolJD posted:USO will be undergoing an 8 to 1 reverse split. Is that where they pour 8 barrels into one bigger barrel?
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Apr 28, 2020 16:12
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LLCoolJD posted:USO will be undergoing an 8 to 1 reverse split. Got an email about my calls (lol) and they're saying I'm gonna have to do my own math to figure out if they're ITM?? Jk, it's no worry because they'll never be ITM.
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Apr 28, 2020 16:12
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drunken officeparty posted:What is /ES S&P futures
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Apr 28, 2020 16:12
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drunken officeparty posted:What is /ES Gotta employ some google my dude. It's the most popular SP500 futures contract. Like the SPY ETF but with extreme leverage. https://www.cmegroup.com/trading/why-futures/welcome-to-e-mini-s-and-p-500-futures.html I don't recommend anything in particular because my EV is still strongly negative. I'm down a ton  WSB got the better of me for a while.
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Apr 28, 2020 16:13
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Inner Light posted:Gotta employ some google my dude. It's the most popular SP500 futures contract. Like a SPY ETF but with extreme leverage. The slash is confusing my googling. It was just giving me ES as in an energy company.
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Apr 28, 2020 16:15
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Inner Light posted:
The trade is possible without watching like a hawk since it's an option, you just need to know when you want to close it. I should have closed it when it was +$9k but I got greedy I prefer to play the options, I end up sitting there watching the charts all day when I play the underlying.
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Apr 28, 2020 16:15
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drunken officeparty posted:The slash is confusing my googling. It was just giving me ES as in an energy company. Yeah - EverSource. And trust me, you don't want to invest in them.
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Apr 28, 2020 16:17
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LLCoolJD posted:USO will be undergoing an 8 to 1 reverse split. More USO news https://twitter.com/business/status/1255142284267384834?s=20
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Apr 28, 2020 16:25
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Out of total assets of $1.46B on March 1. Does the act of investors buying shares of USO increase its net assets? I think the answer is no.
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Apr 28, 2020 16:28
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drunken officeparty posted:The slash is confusing my googling. It was just giving me ES as in an energy company. I had a hell of time figuring out what /ES was when I started reading this thread. It's a short form prefix for the futures contract. My two chart tools each list as something different, and my brokerage another thing entirely: https://ca.investing.com/indices/us-spx-500-futures https://www.barchart.com/futures/quotes/ESM20/overview https://finance.yahoo.com/quote/ES=F/
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Apr 28, 2020 16:30
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The obsession with USO is getting to the same level as the obsession with COVID last month. Need to look towards the knock on effect, and I think that results in the Fed being pressured to go negative. Would long TLT going into tomorrow because JP won't do it yet, but the bond market will say "do it bitch".
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Apr 28, 2020 16:35
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Seems we may be melting up again now that the CCI and BA investigation news are out. Sitting on some /ES calls for the rest of the day. e: melt up might be the wrong term here, but still Sepist fucked around with this message at 16:40 on Apr 28, 2020 |
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Apr 28, 2020 16:36
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Rebought 11 May 20 SPY 300 calls at 1.04, bought 2 this time.
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Apr 28, 2020 16:44
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Sepist posted:Seems we may be melting up again now that the CCI and BA investigation news are out. Sitting on some /ES calls for the rest of the day. Is there something to explain /ES options online that lays out why I multiply premium ticks by $50 to get profit or loss? Am I buying an option to purchase 1 contract, instead of with equities an option to purchase 100 shares? I can't find this sort of info goddamn anywhere. I've forgotten some of the details.
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Apr 28, 2020 16:46
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Inner Light posted:Is there something to explain /ES options online that lays out why I multiply premium ticks by $50 to get profit or loss? Am I buying an option to purchase 1 contract, instead of with equities an option to purchase 100 shares? Options on equities are (generally) one contract for 100 shares. Options on futures are one option contract for one futures contract. One /ES futures contract is 50 "shares" of S&P 500, but it settles to cash so it's just 50X movement. Futures are weird and full of pitfalls and if you're trying to figure stuff out you'll make fewer errors and will be working with cheaper contracts on SPY.
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Apr 28, 2020 16:56
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If you want to get in the futures game but you're nervous about the size, start with the micros. I don't know the TOS tickers but at IB it's MES, MNQ, MYM, etc.
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Apr 28, 2020 16:58
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I'm at a loss what to do with @MacroCharts. He has been spot on for several calls during 2020. Here are examples, in chronological order, note the dates: https://twitter.com/MacroCharts/status/1220315240207798272?s=20 https://twitter.com/MacroCharts/status/1242768188816924672?s=20 https://twitter.com/MacroCharts/status/1242043413488418817?s=20 https://twitter.com/MacroCharts/status/1253639827217625088?s=20 The problem is that I have no insight as to how to regularly replicate his analysis in TOS. A lot of it seems to be on his own black-box models, or using other third-party data. But some charts are just using simple easily verifiable metrics. He's been right all year -- not necessarily on the exact date of big moves, but, often within the relevant timeline (order ~month at low VIX times, order ~days/week at high VIX times). If any of you spend some time digging through his tweets for the year I'd be curious to hear your critical takes on his analysis. pmchem fucked around with this message at 17:12 on Apr 28, 2020 |
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Apr 28, 2020 17:09
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Sepist posted:The trade is possible without watching like a hawk since it's an option, you just need to know when you want to close it. I should have closed it when it was +$9k but I got greedy Personally for you, why does trading the option mean you have to watch less carefully? I can place a stop loss for the underlying but futures options are limit orders only.
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Apr 28, 2020 17:10
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Do pattern day trading rules apply to options trading too? RH’s app text says “buying and selling the same stock in the same day”
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Apr 28, 2020 17:19
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Yes.
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Apr 28, 2020 17:20
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