I trade from IB a lot still - in IB they way they treat shorts
is to simply sell an item, there is no sell short action to select
from, just buy and sell.
on the screen I was in, it had the SPY PUTs that I had carried
over the weekend and sold, since they were right there on the
screen I simply elected to sell the same PUT that I had previously
owned - that's all it was nothing more complicated than
that.
Posted by jj4376jc on 21st of Sep 2021 at 07:40 am
Can't speak for Matt on this specific trade. However I prefer to
sell options vs buy them when volatility is high. Sell the Premium
vs pay the premium. The main disadvantage(theoretical) is that you
cap your upside to the credit you receive. Whereas if you buy the
option the upside is far higher and the downside is capped to price
paid. I personally like Calendar and Diagonal spreads, I will sell
a shorter term option to help pay for the longer term more
expensive option. As wih all option trades be sure you
understand the risk reward before trying, they can go wrong
quickly. Hope that made sense, LOL.
both SPY systems took a 2nd entry, TS was locked up - hate how
it does that on days like this. I sent out the email: SSO ETF 10K,
and Nov 19th 429 strike
I think QQQ McClellan also went long but I will confirm with a
chart once I get this back up
Any update on system trades
Posted by timebandit on 20th of Sep 2021 at 03:48 pm
Any update on system trades for the close? McClellan, etc?
really can't tell you until
Posted by matt on 20th of Sep 2021 at 03:53 pm
really can't tell you until after close, for now looks like maybe QQQ one may go
Thanks! I actually went long
Posted by timebandit on 20th of Sep 2021 at 03:58 pm
Thanks! I actually went long QQQs earlier
yeah I played UPRO off
Posted by matt on 20th of Sep 2021 at 04:02 pm
yeah I played UPRO off that 5 min wedge and went short some SPY put options had previously, larger moves than I expected, great day trades
Hey Matt, could you explain
Posted by mrjasongill on 21st of Sep 2021 at 12:20 am
Hey Matt, could you explain why you wouldn't just buy calls vs. going short puts? option pricing?
I trade from IB a
Posted by matt on 21st of Sep 2021 at 08:53 am
I trade from IB a lot still - in IB they way they treat shorts is to simply sell an item, there is no sell short action to select from, just buy and sell.
on the screen I was in, it had the SPY PUTs that I had carried over the weekend and sold, since they were right there on the screen I simply elected to sell the same PUT that I had previously owned - that's all it was nothing more complicated than that.
Can't speak for Matt on
Posted by jj4376jc on 21st of Sep 2021 at 07:40 am
Can't speak for Matt on this specific trade. However I prefer to sell options vs buy them when volatility is high. Sell the Premium vs pay the premium. The main disadvantage(theoretical) is that you cap your upside to the credit you receive. Whereas if you buy the option the upside is far higher and the downside is capped to price paid. I personally like Calendar and Diagonal spreads, I will sell a shorter term option to help pay for the longer term more expensive option. As wih all option trades be sure you understand the risk reward before trying, they can go wrong quickly. Hope that made sense, LOL.
both SPY systems took a
Posted by matt on 20th of Sep 2021 at 04:07 pm
both SPY systems took a 2nd entry, TS was locked up - hate how it does that on days like this. I sent out the email: SSO ETF 10K, and Nov 19th 429 strike
I think QQQ McClellan also went long but I will confirm with a chart once I get this back up
confirmation of the McClellan Systems
Posted by matt on 20th of Sep 2021 at 04:17 pm
confirmation of the McClellan Systems - QQQ version went long - this is the modified backtested versions, the ones with the better stats.
the non-backtested ones, the SPX also went long