Today was a great entry for my plays…
I’m expecting volume on Tuesday and will exit SPY then, if not earlier on Monday.
SPY might try to tap 459 tomorrow…
IF SPY breaks 460 tomorrow, we should see more upside in the coming weeks.
IF SPY doesn’t get to or hold 460, expect sideways move for the rest of the week and likely retest 448-449.
Exited my AMC strangles today at a little over 11% gain.
Also exited my SPY strangles the other day btw, morning of FOMC minutes at 26% gain.
GME strangle, still, well strangled.
New batch of strangles on SPY 449/450 strikes.
Looking to exit these by Tuesday or Wednesday.
Here’s my list of current positions…
Added to my VYGG calls, that’s my cap.
AMC call build for post Dr. Strange 2 numbers, will look to next week to actually start July entry.
NVDA and AMD, looking for gap fills on the upside.
AAPL, can swing either way.
At the end of the day, I saw that I could have exited AMC today at over 17% instead of 11%.
But that’s not how I win with discipline, that’s a gambler’s mentality.
I’m trying the Summary feature on this thread, since I don’t get to update it constantly–and read times are not significant anyway.
I’m hoping you’ll still have the option to view the entire thread, if you need to see the latest posts even with low engagement.
My strangles keep paying.
Sold 1 449/450 on my wife’s RH account for over 30% gain.
Sold 7 of mine for 14% gain on the same strike.
I’m using this as the test account for my ideas…
I am more interested in the tech stocks this month…
Holding my NVDA and AMD calls (both down around -50%, not liking single leg positions now).
Holding my AAPL strangle even though it’s already up 10% today.
Took a new batch of SPY strangles to sell tomorrow.
GME strangle still a big pita.
Today I’ll be waiting for Strangle Entries on these tickers:
TGT, WMT, CVS, SBUX, and NFLX.
Ideas account up over 4% today.
Way over my target of 1.4%
Tomorrow, I’ll be playing WFC earnings with a strangle.
Will just be looking for a 10% gain while volatility is hot and very wet…
Come Monday afternoon, I will be waiting for an entry to a Strangle/s on NFLX.
Premiums were still considerably high today, so I want theta to help me lower that further…
What’s important is that I will only be playing the volatility–to exit before the ER call.
This has been consistently profitable for me so it’s what I’ll stick with.
I’ll be setting my sell price to 15% gain, but if doesn’t hit that, I’ll take whatever green there is.
Looking at 5 or 10 width on the spreads.
I’ll keep announcing what strangles I plan to enter ahead of time like this.
I won’t announce exactly what minute I’m getting in.
NFLX strangles netted over 13% gain overnight…
Took 8 SPY strangles 6days opex in anticipation for TSLA ER tomorrow.
Will look to enter SNAP strangles tomorrow…
IV has been gaining since last week…
Fulfilled my oath to the ancestors and got myself a few SNAP strangles…
SPY strangles yesterday are in limbo. I hate sideways days. spooning should be banned
Also added more VYGG calls.
I just want to thank everyone for crashing the market…
Out of curiosity, once SNAP picked a direction, why not close the call to maximize gains?
ERs are unpredictable.
If the move is enough to give me gains, sure, but that’s a gamble until the next day.
Percentage wise, I don’t close a side until it’s 90% losing.
On regular days, when I’m just playing the Daily bounces of the Kertnel Channel, sure.
Welp, that was an exciting end to the day…
SPY and SNAP strangles paid today.
Kept 2 SNAP calls for some gambling–you only play with house money, and only a fraction too.
Reviewing my process today…
I still rely heavily on TA–since it gives me the most possible gains.
Here’s what I saw:
Those things above helped me decide to enter strangles, as I knew the market will swing one way or another with better volatility.
As you can see with the orange bounding box I drew, my break even price at the lower end was a bit over 437, but the expected higher volatility raised the options’ premiums and gave me my green way out.
I was only hoping for a 5% gain since my OpEx was on Monday, but 2x that is a big welcome.
What’s important at the end, is that I didn’t wait any longer.
This was only on with SPY, SNAP ER did me good too–read my entries above.
Total 5day P%L is over $3k.
Now for my losing trades–the single-legged horrors.
AMD - Losing around $300, opex April29.
NVDA - Losing around $600, opex April29.
BEEM - Losing around $400, opex May20.
All these entries didn’t follow my process–they were taken on a hunch.
They were also peppered with hopium and retard mentality, so what can go wrong, right???
I thought there would be a short bullish rally since AMD and NVDA both have events and news since last week and almost every other week.
Turns out they were all insignificant.
Don’t get me wrong, once I have my own proven process for single-leg positions, I will take them again.
For now, I am profitable with strangles, so I will stick with them.
I might look into entering FB strangles later today, to hold before their ER next week.
Also looking at MSFT.
Took a SPY put today, testing my single-leg strat.
Bought April27 434p at 4.01 and sold for 5.05, for a 25% gain…
My wife was breathing down my neck so I hastily closed that position for her account (I use it as my test account for my strats).
I’ll have to keep testing this process for maybe 3 more months.
