Need to add to the BBBY thread but will be watching it in pre market. I would look for a rebreak of 24 and it to hold the 20 or 22 support. Once it rebreak 24 you want to see a break of 28. Playing smaller sizes here or cover costs as it’s now much riskier than previous run up today that hit 28 but if volume comes in it could push more. Remember FOMC minutes tomorrow and that has always paid us on calls each time <@&895135662867619930>
1 Like
For those asking how we play FOMC minutes at 2pm tomorrow, we typically buy calls a few minutes before, then sell them after a few green candles but you have to be quick. Then once you get good at this minute release, you buy puts and ride those down. Each giving a range of 5% to maybe 30% profit and this has worked every time. <@132275267321331713> shared this paper showing this originally https://www.newyorkfed.org/medialibrary/media/research/epr/2013/0913rosa.pdf <@&895135662867619930> and it should be on our forums
1 Like
Just to add, my backtesting has shown that IV increased drastically starting around 1:45, so you’re going to be paying higher premiums after that, especially on puts.
3 Likes
Finally found it FOMC Minutes Drop
I will have to remember that 15 min and make entry sooner. Sometimes I feel like I wait too close to 2pm. Tyty
1 Like
The IV increase exacerbates the put side even more, so if you’re doing a straddle you’d probably be out with profit before 2.
2 Likes
As mentioned BBBY trying to rebreak that 26 here but struggling. I still probably won’t play anything today but FOMC minutes at 2pm but watching if BBBY pushes this 26 then 28 break <@&895135662867619930>
QRNX watch that 6.75 to 7 break and 6.50 support <@&895135662867619930>
2 Likes
Not great pre market for scalping with most being red. If QRNX looses that 6.25 support I’m out <@&895135662867619930>
1 Like
If you’re holding BBBY I’d probably look to take profit
Closed IWM @ +11%
Closed AAPL @ -1%
Not really loving the idea of holding these through minutes drop.
1 Like
There’s 30k volume on the 30 strike for BBBY. This constitutes a “roll” meaning most all options buying is going OTM and relieving hedging pressure on the stock. The AH run into a chain expansion was one of the most consistent killers of squeezes that we’d found and thus far BBBY is looking no different.
1 Like
As much as I hate the stock, watch for BBIG 1.50 break for a scalp <@&895135662867619930>
1 Like
up to 34k volume on the 30 strike. Massive call volumes are still going OTM.
GETY looking to make a second run at holding over 35 except a bit slower this time. Good exit point if you took entry on my suggestion yesterday. Over 35 this could have some legs but that’s a gamble.
Watch 426 SPY support and 426.75 for current resistance. Getting ready for my call entry soon <@&895135662867619930>
So another great example and if you are happy with profits take it. I entered my SPY calls at 426.30 and they are already up 25%. Watch for 427 break and have about 30 min to event <@&895135662867619930>
I am out <@&895135662867619930>
im out here
So usually I buy puts as soon as I sell my calls but I went full port into calls. to be a good trade as soon as my limit or finger hit the sell on my calls, i would have grabbed 5-10 puts on that same candle at 2pm. Thoughts for next time but if you are less experienced or dont want to time it. Just buy calls like our forum and team here has called out and sail away with at least 5% to 45% gains etc. Congrats all another great FOMC minutes trade. <@&895135662867619930>
2 Likes