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nice to see someone trading options. With the weeklies, do u trade in at or out of the money? Also, I am guessing you are strictly long calls/puts... or do you use spreads, even if just to limit a loss?
Today was another fun day and the market let me to play.
Four out of five today.
Trades:
AAPL $635 Calls @ $ 2.30 they went to $ 3.00, but I sold them at $ 2.00 after the moved quickly failed. Small Loss
AAPL $620 Puts @ $ 2.20 sold them at $ 4.00 when they hit my target (a past month FIB @ $ 621.45) Nice Win
BIDU $150 Calls @ $ 1.00 sold them at $ 2.20 when it finally got to R3 ( I use Woodies Pivot instead of standard pivots. Nice Win
SPY $138 Calls @ 0.50 sold them @ $ 1.00 when moved tired and started showing weakness. Nice Win
ES In @ $ 1,374 still in with a stop at $ 1,384 (10 points locked in) Nice Win
No plays in GOOG (options over priced due to earnings), NFLX (took off before open), PCLN (also was running before open, never let me in), AMZN (missed a small buy due to already being in SPY, ES, AAPL, & BIDU).
Take care and have a great night.
Tip of the day: Watch the high and lows of the first 30 minutes, a break of either can usually be bought or shorter. (The thin red/green lines on my charts, I always pay attention to them).
Viking1, where have you been all my life? i have been daytrading weeklies and monthlies for the past 5 months with irregular results. no time to read right now - got to get the evening going - but can't wait to read yr journal. mine is "maisie's journal" - but u might not want to waste yr time. i am quite the beginner and doubt my chatty journal will contain anything u haven't worked out already. but it exists, for what it's worth.
Du sublime au ridicule, il n'ya qu'un pas. ~Napoleon Bonaparte
Hello Massie, you might be right in regards to teaching me anything new, but I always have an open mind. Thank you for the comments and have a great night. Love the Bay area.
I always trade just out of the money (1 to 2 strikes) on the weeklies, (this can be VERY rewarding especially on Thursday and Friday plays; but you better have a real good idea where the option is going). I am strictly long call/puts and rarely use vertical spreads (though they can be very useful on "swing plays" over night).
Tip: On Friday's you will find a lot of these weeklies love to finish on, or very near, a strike.
Viking1, where have you been all my life? i have been daytrading weeklies and monthlies for the past 5 months with irregular results. no time to read right now - got to get the evening going - but can't wait to read yr journal. mine is "maisie's journal" - but u might not want to waste yr time. i am quite the beginner and doubt my chatty journal will contain anything u haven't worked out already. but it exists, for what it's worth.
Du sublime au ridicule, il n'ya qu'un pas. ~Napoleon Bonaparte
I know a method i like on SPY weeklies is to wait until the spy is inbetween strikes. IF the spy is at 130.50 id either be going long for the 131 calls or going short buying 130 puts. I am not sure why I wait for a split. Its going to be fun to converse with some options traders on this thread.
and just for fun here is the 138 calls synced to the spy. Mainly for those who may not know how options correlate to underlying ect. along with the volume for some puts and calls