Let's Trade Options

Open trades:

GE Mar1 147 PUT at $1.54

ROKU Mar8 70 CALL at $1.52 avg

RL Mar15 170 PUT at $1.08 avg

AKAM Mar15 115 Call at $1.99

AKAM Mar15 110 CALL at $1.67

WM Mar15 200 PUT at $1.20

A good mix of Puts/Calls, now it's just wait and see if NVDA has much of an affect on the broader market tomorrow.

If QQQ can grind above 436 by Friday these could make some change.

it's a bull market, old turkey. I prolly sell put spreads an go long calendar or diagonal for next week

otoh, I could see RUT faltering on rate fear, dropping below 1950 next week

took all off @2x, woulda let it sit if it had gone further into the p/l zone

Added to the following:

ROKU Mar8 70 CALL at $0.83, lowering the average to $1.235

RL Mar15 170 PUT at $0.50, lowering the average to $0.84

RL is solely based off the weekly chart, and it looks ready to drop. Guess I'll see if the weekly chart is as powerful as the daily chart....

ROKU is based on the Daily chart, though not perfect, should make some money.

Good job! Profit is always good!! I leave money on the table all the time. I seldom even look aback any more; too heartbreaking sometimes...

Open trades:

GE Mar1 147 PUT at $1.54

ROKU Mar8 70 CALL at $1.235 avg

RL Mar15 170 PUT at $0.84 avg

AKAM Mar15 115 Call at $1.99

AKAM Mar15 110 CALL at $1.67

WM Mar15 200 PUT at $1.20

Got hit on a Hail Mary Bid I had forgotten I had out there until the alert at the close, so added to the following:

AKAM Mar15 115 CALL at $0.20, bringing the average down to $0.36, because good or bad, I now have a cubic buttload of it!

Plenty of time to make some money on this one, though.

Well, there are several worth looking at to get into before the close, but I have all that I want open at once, and I doubt I close any tomorrow, so it would just be a waste of time for me to watch them all day since I probably won't trade them.

There are a few weekly charts that look great, so I may get into one contract At-the-Money or just outside for March or April, just to see how the longer term trades pan out. That's the only problem using the same charting parameters for the weekly as the daily, where you can reach your profit in just 3-6 days off a Daily chart, it may take 3-6 weeks off a Weekly chart. And that's a long time in the trading universe, even for In-the-Money options. Plus, a lot can happen in a month or so for the overall market. I'll do some theory-to-practice, but I'm thinking I may just stick with the Daily charts unless they look perfect.

This is something most traders struggle with. Lots of the setups I am in have really large payoff possibilities, but I'd have to hold them til near expiry to realize that. So, what to do? Bite the bullet and take money off the table when it's there. This is the better mo, because it's quite possible that holding too long could eliminate any profit, produce a loss.

If I have good numbers, say >10 lots, sometimes I will hold out on a couple to try at the homerun. Usually not, though. Just grab the cash and look forward. There's always another trade waiting.

In the following:

ECL Mar15 220 PUT at $2.10

Let's see the power of the weekly chart on this one.

I am offering my personal guarantee that the gap @ 5000 (the NVDA gap) will be filled b4 my birthday.

Not sure when your BD is, but the Weekly chart for SPY, though not perfect because of the gap on the Daily, looks like it might get to ~490-ish in about 2-3 weeks.

Again, problem with the weekly chart is that a lot can happen in 3 weeks....

3/14. I am trading ICs on a 30-45 day cycle. When vol is low, I swing into longer dated spreads.

By 3/14, I believe you will be right on the money, TF.

lots of data releases, lots of Fedspeak this week. The big one will be PCE on 2/29 - another hot reading will surely sink stocks, especially the Russell. I will be shopping setups to catch a big move Friday....

I think it was about a year ago we had the SVB dip. With interest rates staying fairly high I won't be surprised to see some mor of that.

Options trading is difficult

Put some $$$ in an account, click a button and buy some puts or calls, then just sit back and watch the money pour in. What's so hard about that?