Posted by DigiNomad on 10th of May 2023 at 03:45 pm
Yeah, legit squeeze off the bottom. I'm almost hoping they keep
it going - the steeper the better! It would take me off of the
H&S watch, which is kinda like watching paint dry. If they
could squeeze it just past 4300, I would sell a crap ton of SPX
calls around 4600....and then take a month off.
Posted by timebandit on 10th of May 2023 at 03:52 pm
Was going to short $SPX, Digi, but held off. Maybe we get
a pop on CPE tomorrow and it tags upper line of expanding triangle?
Going to go home flat, other than a little GEO long I'm holding to
see if it can get past 200 ma. Oh, and some INSW too
Posted by fredsaid on 10th of May 2023 at 04:19 pm
I'm also hoping for a pop to the top of the triangle.
Holding SPY 5/12 calls that I hope to unload at 4160.
Would be a good time for them to bring Tom Lee back out for a
victory lap.
Posted by DigiNomad on 10th of May 2023 at 03:52 pm
Approximately 45 DTE...but I adjust that to sell a technical
level I'm comfortable with...especially with a sub 20 VIX.
The other approach is to sell a level I'm not as comfortable with
and know that there is a higher probability I'll have to defend it
(roll out and up or roll up and add contracts)
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Sold QQQ calls a few
Posted by timebandit on 10th of May 2023 at 03:34 pm
Sold QQQ calls a few minutes ago. Left some on the table, as usual. Heck of a squeeze
Yeah, legit squeeze off the
Posted by DigiNomad on 10th of May 2023 at 03:45 pm
Yeah, legit squeeze off the bottom. I'm almost hoping they keep it going - the steeper the better! It would take me off of the H&S watch, which is kinda like watching paint dry. If they could squeeze it just past 4300, I would sell a crap ton of SPX calls around 4600....and then take a month off.
Sure you would.
Posted by mastermind on 10th of May 2023 at 03:54 pm
Sure you would.
Was going to short $SPX,
Posted by timebandit on 10th of May 2023 at 03:52 pm
Was going to short $SPX, Digi, but held off. Maybe we get a pop on CPE tomorrow and it tags upper line of expanding triangle? Going to go home flat, other than a little GEO long I'm holding to see if it can get past 200 ma. Oh, and some INSW too
I'm also hoping for a
Posted by fredsaid on 10th of May 2023 at 04:19 pm
I'm also hoping for a pop to the top of the triangle. Holding SPY 5/12 calls that I hope to unload at 4160. Would be a good time for them to bring Tom Lee back out for a victory lap.
Lol, I'm with you. I
Posted by DigiNomad on 10th of May 2023 at 04:26 pm
Lol, I'm with you. I would love a Tom Lee victory lap right around 4200
Yep, this is an updated
Posted by DigiNomad on 10th of May 2023 at 03:59 pm
Yep, this is an updated view of Steve's version of the expanding triangle in play. Today looks like a nothing burger when looked at in this context.
How far out do you
Posted by focus175 on 10th of May 2023 at 03:49 pm
How far out do you normally go for expiration for selling calls on the indexes?
Approximately 45 DTE...but I adjust
Posted by DigiNomad on 10th of May 2023 at 03:52 pm
Approximately 45 DTE...but I adjust that to sell a technical level I'm comfortable with...especially with a sub 20 VIX. The other approach is to sell a level I'm not as comfortable with and know that there is a higher probability I'll have to defend it (roll out and up or roll up and add contracts)