30DTE should drop the premium faster, I reckon. I am going to
play this lightly, keeping in mind the 4300 target on SPX, which
everyone knows about. Selling the premium is the way to go!
I will post my developments on this blog. I like to let the
position expire worthless although premium drops fast in the last 3
weeks before expiry. Thank you again!
DigiNomad, I can free up some buying power once I get a feel of
the method. I am holding two losing put positions at the moment --
based on Jim Rickards Income strategy (which does not seem to work
at all) -- which should be resolved one way or the other.
DigiNomad, thanks for the trade profile. I used a TD Ameritrade
account. I could view the same in the IB.
I received $330 credit, so about $700 is a double of the credit
received. If closed for a loss, I would open another BCS with delta
0.15 at the time to defend it for the amount of a loss on the same
expiry date. Correct? Thank you for your mentorship!
DigiNomad, I initially purchased a 50-point wide BCS and
immediately received a notice of an impending margin call for
$1,000. The margin required is $100 per $SPX point for a short call
or put position. So I halved the spread. My maximum loss on it is
the margin, I think. I expect the premium to drop within a month,
and I could either sell the BCS or let it expire worthless. I could
have gone to 30DTE, but I am playing it lightly till I know how it
behaves.
The 3ATR on the weekly chart is 4367 on /ES, so this BCS should
bring me income.
The first notice date for /GCM is May 31st, in 14 days. I
am expecting a slow grind lower into that date. If the debt ceiling
becomes an issue, it could mark a high with lower odds.
For those trading grains, grains should revisit their prior lows
from April. At the lows, I expect a $5-handle on /ZW July, $4
handle on Dec. corn, and $11 handle on Nov. beans. They are already
close to buy levels yet not there yet.
https://www.barchart.com/futures/grains?viewName=main
These will be lows for the year, and lows before the next wave up
into 2025.
/GC is on support too, $1980-85. It is oversold short term. If
that support breaks, $1950-60 is a solid support and a definite buy
level. Based on inside information, that will hold for certain.
The community is delayed by three days for non registered users.
30DTE should drop the premium
DigiNomad, I bought $SPX Jul 21 4400/4425 Bear CS on ...
Posted by junkie on 17th of May 2023 at 04:50 pm
30DTE should drop the premium faster, I reckon. I am going to play this lightly, keeping in mind the 4300 target on SPX, which everyone knows about. Selling the premium is the way to go!
I will post my developments on this blog. I like to let the position expire worthless although premium drops fast in the last 3 weeks before expiry. Thank you again!
DigiNomad, I can free up
DigiNomad, I bought $SPX Jul 21 4400/4425 Bear CS on ...
Posted by junkie on 17th of May 2023 at 04:36 pm
DigiNomad, I can free up some buying power once I get a feel of the method. I am holding two losing put positions at the moment -- based on Jim Rickards Income strategy (which does not seem to work at all) -- which should be resolved one way or the other.
Is 30DTE are too volatile for this purpose?
DigiNomad, thanks for the trade
DigiNomad, I bought $SPX Jul 21 4400/4425 Bear CS on ...
Posted by junkie on 17th of May 2023 at 04:22 pm
DigiNomad, thanks for the trade profile. I used a TD Ameritrade account. I could view the same in the IB.
I received $330 credit, so about $700 is a double of the credit received. If closed for a loss, I would open another BCS with delta 0.15 at the time to defend it for the amount of a loss on the same expiry date. Correct? Thank you for your mentorship!
DigiNomad, I initially purchased a
DigiNomad, I bought $SPX Jul 21 4400/4425 Bear CS on ...
Posted by junkie on 17th of May 2023 at 04:03 pm
DigiNomad, I initially purchased a 50-point wide BCS and immediately received a notice of an impending margin call for $1,000. The margin required is $100 per $SPX point for a short call or put position. So I halved the spread. My maximum loss on it is the margin, I think. I expect the premium to drop within a month, and I could either sell the BCS or let it expire worthless. I could have gone to 30DTE, but I am playing it lightly till I know how it behaves.
The 3ATR on the weekly chart is 4367 on /ES, so this BCS should bring me income.
DigiNomad, I bought $SPX Jul
Posted by junkie on 17th of May 2023 at 02:15 pm
DigiNomad, I bought $SPX Jul 21 4400/4425 Bear CS on this pop (sold 4400 strike, delta 0.15).
The grain corridor has been
Posted by junkie on 17th of May 2023 at 12:11 pm
The grain corridor has been extended for two months, according to the leader of Turkey.
rp, check with Trendy Jon
supply/demand examples
Posted by junkie on 17th of May 2023 at 12:09 pm
rp, check with Trendy Jon on youtube who teaches this concept. He sells some related software.
One idea I am pursuing
Posted by junkie on 17th of May 2023 at 10:25 am
One idea I am pursuing is a low on gold, high on the indexes, and a positive divergence on $VIX to mark a tradable top this week.
DigiNomad, I am looking into
Posted by junkie on 17th of May 2023 at 10:22 am
DigiNomad, I am looking into a push into the supply zone on $SPX 60-minchart to sell a Bear CS. Your comments are welcome.
stockcharts.com
$SPX | SharpCharts | StockCharts.com
Create advanced interactive price charts for $SPX, with a wide variety of chart types, technical indicators, overlays, and annotation tools.
Matt, thank you! I am
today is Demark 9 on daily QQQ
Posted by junkie on 17th of May 2023 at 10:20 am
Matt, thank you! I am well familiar with the concept. Mine works on 3 different time frames, while yours is straightforward.
Matt, your End of Bull
today is Demark 9 on daily QQQ
Posted by junkie on 17th of May 2023 at 09:59 am
Matt, your End of Bull trend indicator on QQQ charts is calculated on a single time frame, isn't it? Is the calculation separate from DeMark waves?
The first notice date for
Posted by junkie on 17th of May 2023 at 09:28 am
The first notice date for /GCM is May 31st, in 14 days. I am expecting a slow grind lower into that date. If the debt ceiling becomes an issue, it could mark a high with lower odds.
So, what is a path
Biden changed travel plans to get back to Washington for ...
Posted by junkie on 16th of May 2023 at 04:14 pm
So, what is a path from here? A failed breakout and lower or one more attempt higher?
Steve, a retest of the
Posted by junkie on 16th of May 2023 at 04:11 pm
Steve, a retest of the lower trendline on QQQ and another push higher into Friday is due next?
stockcharts.com
Print SharpCharts from StockCharts.com
Market typically sells off on
Biden changed travel plans to get back to Washington for ...
Posted by junkie on 16th of May 2023 at 04:02 pm
Market typically sells off on Wednesday of the OpEx week. I would like to see a better drop.
For those trading grains, grains
Posted by junkie on 16th of May 2023 at 02:32 pm
For those trading grains, grains should revisit their prior lows from April. At the lows, I expect a $5-handle on /ZW July, $4 handle on Dec. corn, and $11 handle on Nov. beans. They are already close to buy levels yet not there yet. https://www.barchart.com/futures/grains?viewName=main These will be lows for the year, and lows before the next wave up into 2025.
barchart.com
Grains Futures Prices - Barchart.com
Free Grains futures prices, Grains futures quotes, and Grains futures charts.
Matt's $BPGDM should afford one more
Posted by junkie on 16th of May 2023 at 02:23 pm
Matt's $BPGDM should afford one more thrust higher, perhaps coincident with indexes moving lower.
stockcharts.com
$BPGDM | SharpCharts | StockCharts.com
Create advanced interactive price charts for $BPGDM, with a wide variety of chart types, technical indicators, overlays, and annotation tools.
/GC is on support too,
My GDX trade https://schrts.co/xMJvreQp
Posted by junkie on 16th of May 2023 at 02:17 pm
/GC is on support too, $1980-85. It is oversold short term. If that support breaks, $1950-60 is a solid support and a definite buy level. Based on inside information, that will hold for certain.
ok.
SPX Daily
Posted by junkie on 15th of May 2023 at 05:30 pm
ok.
Do you work on daily
SPX Daily
Posted by junkie on 15th of May 2023 at 05:29 pm
Do you work on daily charts or weekly charts for 3 StandDiv's? I would work with 3ATR Keltner channels and a weekly chart for this method.