On the SPY breakout system, that went long early last week I am
considering, haven't decided yet, to close the option trade and
keep the ETF long. The option was purchased for 17.8 last week and
is trading around 23 now.
What I may consider doing in the future is always taking 2
options for the first entry instead of 1, then 4 for the second
entry(instead of 2), and 6 for the 3rd (instead of 3). That way I
have the option to sell 1/2 on 1st entries, which you cannot do
with 1 option.
again what is shown on the website is just a simple template -
obviously I think most here take more than 1 option and so by doing
so you could always elect to sell 1/2 then keep 1/2 etc.
I know Fed minutes could
Posted by timebandit on 7th of Jul 2021 at 12:52 pm
I know Fed minutes could light the afterburners under this market, but $VIX is uncorrelated and $VVIX is staying stubbornly over 110
yep those continue to cause
Posted by matt on 7th of Jul 2021 at 01:59 pm
yep those continue to cause concern for me.
On the SPY breakout system,
Posted by matt on 7th of Jul 2021 at 02:22 pm
On the SPY breakout system, that went long early last week I am considering, haven't decided yet, to close the option trade and keep the ETF long. The option was purchased for 17.8 last week and is trading around 23 now.
What I may consider doing in the future is always taking 2 options for the first entry instead of 1, then 4 for the second entry(instead of 2), and 6 for the 3rd (instead of 3). That way I have the option to sell 1/2 on 1st entries, which you cannot do with 1 option.
again what is shown on the website is just a simple template - obviously I think most here take more than 1 option and so by doing so you could always elect to sell 1/2 then keep 1/2 etc.
Great call Matt
Posted by fundamentalvalues on 8th of Jul 2021 at 07:45 am
Great call Matt
Are you watching futures??
Posted by lamb on 8th of Jul 2021 at 08:01 am
Are you watching futures??
Decided to close out the
Posted by petermusic on 7th of Jul 2021 at 02:56 pm
Decided to close out the single contract I had today. Awesome trade given the field position!