I sold everything with 10 to 20% profits. The SPY call sold even higher at the first big rise than afterwards although the underlying went higher but slower. Say the effect of volatility here. Interesting. So Lions, when your sell order hits while there’s a steep rise you didn’t await, it’s not necessarily a bad thing. I always place +10% selling orders that close automatically the trade. I only wait for the price level at the opening to adapt it if necessary due to high price movements out of the trading hours. This works out OK for me. Hope this can help.
It’s not the first time I observed that. Sometimes the underlying spikes and the resulting option’s price triggers my standing order.
Must be machines buying those calls from me. Today, my 25.30 sell order hit on the SPY jun21 376C at something like 378 and I waited for it to rise to sell more but it didn’t. Even at 381 the premium didn’t reach that 25.3. I finally sold at 25.0. Also big bid/ask spread variations from time to time as big orders go through.
And on the UA trade the spread was generally 5% sometimes even more. I’m glad to be out of that one. It had low open interests.
Love how you have evolved this newsletter to have us depend more on ourselves, rather than posting the exact time you sell. I feel way more confident than I did last March!
Not sure SLV had anything to do with Reddit. I know they were talking about it, but if anything, the "thought" of SLV going up over at Reddit surely caused some options price spikes.
Liquidated about half my SPY calls/UPRO. I was anticipating yesterday’s drop but not to that extent. Wish I could’ve averaged down better but still happy with my results.
Thanks Greg, I'm learning so much, I trade spreads and pulling profits , learning risk management as well, your time and willigness to share your knowledge is much much appreciated.
Thanks Greg, placed sell orders while sleeping and all targets got hit...fantastic, thank you so much for all constant advice, I have learned so much by following you for the last 6 months.
PPS in response to your earlier msg that I commented on. To those CRY BABIES out there, Greg WORKS HIS ASS OFF FOR US, so if you what to bitch or give him shit, just SHUT THE HELL UP & let him do his thing!
I sold everything with 10 to 20% profits. The SPY call sold even higher at the first big rise than afterwards although the underlying went higher but slower. Say the effect of volatility here. Interesting. So Lions, when your sell order hits while there’s a steep rise you didn’t await, it’s not necessarily a bad thing. I always place +10% selling orders that close automatically the trade. I only wait for the price level at the opening to adapt it if necessary due to high price movements out of the trading hours. This works out OK for me. Hope this can help.
Interesting point about the volatility paying out vs the underlying asset price movement over time
It’s not the first time I observed that. Sometimes the underlying spikes and the resulting option’s price triggers my standing order.
Must be machines buying those calls from me. Today, my 25.30 sell order hit on the SPY jun21 376C at something like 378 and I waited for it to rise to sell more but it didn’t. Even at 381 the premium didn’t reach that 25.3. I finally sold at 25.0. Also big bid/ask spread variations from time to time as big orders go through.
And on the UA trade the spread was generally 5% sometimes even more. I’m glad to be out of that one. It had low open interests.
Yeah, I'm glad to be out of UA too. Never Again.
I found out now why this SPY call behaved strangely. I had the Jun30 2021 call. Very low open interest on this one. The jun18 behaved otherwise.
best advice ever - these are not investments they are speculations/trades - in the SHORT term ANYTHING can happen- I am out and Im going skiing...
Love how you have evolved this newsletter to have us depend more on ourselves, rather than posting the exact time you sell. I feel way more confident than I did last March!
Closed for 48%, 70%, 117%, 74% and 87%. That's all of them I closed them all. Hahahahahahahahahahahahaaa!
https://docs.google.com/document/d/1MiPo24G19budCCdEm8vW30JEnQUQGZS9x7q2f2pI0lw/edit?usp=sharing
Sold 2 more of my SLV Call options....the two highest P/L %'s.
https://docs.google.com/document/d/1MiPo24G19budCCdEm8vW30JEnQUQGZS9x7q2f2pI0lw/edit?usp=sharing
I'm glad I pulled profits in SLV and GLD at the top today. But this WMT call is dragging me down.
There with you man, big score on slv, i was on ootm calls in march too, didnt see the reddit deal coming X D
Not sure SLV had anything to do with Reddit. I know they were talking about it, but if anything, the "thought" of SLV going up over at Reddit surely caused some options price spikes.
true dat
Liquidated about half my SPY calls/UPRO. I was anticipating yesterday’s drop but not to that extent. Wish I could’ve averaged down better but still happy with my results.
Thank you for keeping me from going astray via false directions the MSM attempts to peddle
Opened 3 SLV Call positions.
.SLV210416C38
.SLV210416C39
.SLV210716C38
Thanks Greg, I'm learning so much, I trade spreads and pulling profits , learning risk management as well, your time and willigness to share your knowledge is much much appreciated.
What is the current SPY position please?
Thanks Greg, placed sell orders while sleeping and all targets got hit...fantastic, thank you so much for all constant advice, I have learned so much by following you for the last 6 months.
PPS in response to your earlier msg that I commented on. To those CRY BABIES out there, Greg WORKS HIS ASS OFF FOR US, so if you what to bitch or give him shit, just SHUT THE HELL UP & let him do his thing!
Hi Greg M, not sure how to contact you. What do you think about EXAS? Price upgrade today and little movement on the news.
Study Greg's BOOK...
Apparently, silver has been ramped up by reddit too. So says one of the precious metal fans Mike Maloney.