SPX - Trendday Bull Put at lower Bouhmidi-BandSPX - Nice trend day in play. After defending previous day low we moved higher and breaking previous day high. Bull Puts on 1 + 1.5 sigma #BouhmidiBands working out fine today.
Put-spread
$MARA #Call #Put #Spread #Straddle #Strangle Mara consolidation looking ready to break.
Play we entered:
Expiry: 09/24/2021
Call: $34 @ $0.77 per
Put: $33 @ $0.96 per
$ARKK Consolidation StraddleArk is strongly respecting these lines looking to see if it wants to break down or consolidate further.
$LCID - Call Put SpreadWill be interesting, LCID has a history of filling the gap, something we could see happening, but is also forming a bullish consolidation. If it doesn't break out/down before theta is priced in from this weekend, it could be a great spread.
$NVDA - Call Put Spread Waiting to see which colour line it respects the most before entering a play (to determine expiry).
$PLTR Cal Heavy Call Put SpreadThis chart and play was entered during that circle, however we did not publish it in time.
TSLA set to POP
I'm looking at this vertical put spread, Feb21 800/805. Why? I'm bullish and I don't really see TSLA dropping below 805 this week or next with all the BTC hype. Took a 100 pair position for a 10k return in 10 days 🤞 and feeling pretty good about it. NASDAQ:TSLA NASDAQ:TSLA
LRCX Earnings PlayI got a good hit on my last earnings play which I didn't post TRV so I'm going for one on this.
Put Spread $232.50/220 Cost per spread was 4.36 Holding 2 spreads. Nov 8 exp
We will see what happens. Looks like a small bearish divergence. God speed.
Parabolic Arc Trend on OKTAOKTA Put Spread 105/100 Cost was
$2.07 was the put cost. EXP Nov 15.
we'll see how it pans out looks like the pattern is breaking down.
Max gain will be 50% or $150 and max loss is the same
SBAC Put Spread$3.99 Option Cost EXP October 18, this is a rather expensive trade I normally wouldn't pay this much for an option my general rule is $1.3-1.6 for a 3 week option per $5 width but I'll go for it since I bought it while it was into the money.
250/240 Put Spread Target is $7 profit at sale which is $300 profit at target
Max loss is $300 if it reverses.
SPY Put SpreadSpy trade $1.5 per spread 5 points 298/293
Profit at target is $1.75/ $3.25 price of spread
Exit target loss is $112
SPY seems to be getting weaker. 2x spreads
Could continue lower. MY Gold FX trade blew up. Too bad so sad.
ILMN Breakdown Put SpreadILMN Sold off big time and fell lower, similar to ALGN
Put Spread $282.5/252.5 EXP is September 27th
30 points wide and cost was $9.13
Market continues to sell off and it could move lower to EMA 200 where it may bounce.
Exit 1 underlying price of $252.5 and max profit will be $1050 Time looks good and my preference for this move is around 45 days.
Max loss is $500 USD
Exit 2 is market rally's on some kind of news and this stock moves higher blows through 300 and just complete destroys my original plan.
SPY SEP bear put spreadTook another pot shot today after the gap fill today that the index reverses and makes some retracement lower from here soon.
Bought a bearish put spread on SPY : 20 SEP 19 285/284 PUT @.25
The risk:reward ratio is only 17%, long at the 26 delta, paying less than 1/3 the width.
The market is pricing in a probability of collecting the full payout at 14% and 33% chance of collecting double the initial debt.
Breakeven is 284.75, approximately 2.55% below current SPY price of $292.19
Technically the gap is filled now and the SPY price is above today's R1 level. The index has already completed a 50% retracement of the prior move from the June ATHs to the lows of this week. The hourly buying volume is relatively weak compared to the average and the selling volume earlier this week. The May-June pattern comes to mind at this point where in May-June the index resumed selling much deeper than this after some consolidation. The selling volume this week was much much stronger than we than three months ago. Perhaps some further selling ahead after some consolidation here?
Still feeling bearish here on SPY after this buying action today I wondered:
What's the better play right now with the VIX 18% at above average?
Do I buy the bear put spread or sell the call spread?
A) Collect 1/3 the width now shorting the 26 delta with SELL -1 VERTICAL SPY 100 20 SEP 19 300/301 CALL @.34.
OR
B) Pay < 1/3 the width now buying the 35 delta put spread with BUY +1 VERTICAL SPY 100 20 SEP 19 285/284 PUT @.26
First example you collect theta but take on sizable risk with a sustained rally higher.
Second example you pay a little but the reward is worth it if the SPY resumes selling back to lows.
What do you think? Thanks for reading, and best luck with trading!
TESLA Bull Put SpreadTesla may be moving higher as its hit support at the bottom of its move. It may go lower but I'm going to assume that the move is finished and put in a long position on TSLA.
Investor meeting was fruitful and got a good reaction after hours. SPY will be moving sideways on indecision as investors are hyped due to the Powell put but still concerned about trade tariffs with China.
I think its time to put on some more condors on some high IVR stocks.
185/190 looking to get at least $110-$150 for the position and max risk is $350-390
I will update this tomorrow.
This is a journal entry and not trade advice.
CVNA Bear Put SpreadCVNA is still a bearish position for me I plan to put in a 70/75 Bear Put Spread as it seems to be continuing sideways I felt my 60/65 spread was too close and I took a loss on it. In the end it may still have been a fine position I could have over reacted out of fear.
I plan to put on this trade $70 profit max loss is $430 I will buy 2 spreads
$140 max and $860 max risk
Profit target is $70 and max loss is $140
Target exit will be end of June.
QQQ BullPut spread ROI 47% and 3.2RRRReward 0.64
Cost = 2 - 0.64 = 1.36
Target ROI = 47%
Risk @SL = 0.92 when price hit $2 ITM
= 0.92 - 0.72 = 0.20
RRR = 0.64 / 0.20
= 3.2 : 1
OTM Credit spreads with 2RRSell OTM credit spreads at interim and strong resistance /support.
ATM place your SL, where the price is half of spread ~ 0.53
Why selling OTM spreads is guaranteed to wipe out your profitsTrading without a risk management is gambling. Gambling relies on hope.
Selling OTM spreads depends on a 75% success rate and surviving a few big losses. The RR is very low if you are aiming to collect 25% of the spread. I traded 12 months solely on BullPut and this has taught me well. It's a losing strategy based on the misconception of high win rate and "consistent" income.
Using ITM spreads, you can enjoy higher RR and live to make another trade. I took a calculated loss on AAPL with RR 1.6.
