|
|
|
|
#2
05-21-2021, 01:00 AM
|
||||
|
Quote:
I exitted the 325/322 put credit spreads (6) on QQQ expiring tomorrow that I sold early Monday morning saying this week would not lose more than 0.5% (believing the nasdaq has reached the bottom of this past 3 months' pullback). I sold them for 105$ each at a exit price of 40$ each effectively netting 65$ x 6 (390$) against the 1170$ I risked: a 33% gain. I'm still in all of my Put credit spreads with a January 2023 expiration (wpm 45/35, dfen 20/19, et 10/7, and et 15/7) as I have no intention of exitting them at all since they are double-ups and triple-ups and quadruple-ups coming in at the long term capital gains rate if I hold them till at least may of 2022. Basically, I take a portion of my wins from short-term wins and parlay them into even bigger long-term wins. | |||
|
Last edited by Gwaihir; 05-21-2021 at 01:26 AM..
|
|
|||
|
#3
05-21-2021, 01:08 AM
|
|||
|
The reason why I exitted, is because I extracted 65% of their maximum value, and it's highly likely that tomorrow will pare some of today's gain just because today was so fire, and I didn't want to risk dumbfucks starting a selloff when the market opens tomorrow slightly in the red.
My estimate:. QQQ closes at 327.30 tomorrow, for a net gain of 0.3% on the week. I spent the last 30 minutes of trading trying to get into an iron condor position for 6 contracts with a put spread of 325/324 and a call spread of 330/331 for 66$ per contract in premiums (against my $34 x 6 = 204$) but the mark price oscillated between 62 and 67 but didn't execute for a max gain of 396$. if the price tomorrow closes between 325 and 330 tomorrow I'm gonna be sad in the pants that I didn't drop my sell price to 60 just to get the position at 4$ below mark since deviating from the mark by 1 penny on all 4 wings of the condor pretty much assures an instant buyer on tightly traded options like SPY DIA and QQQ but the situation I was trying to get into was risking half of the weeks to double this week's gains. | ||
|
Last edited by Gwaihir; 05-21-2021 at 01:34 AM..
|
|
||
|
#4
05-21-2021, 01:16 AM
|
|||
|
I should add, yesterday opening QQQ after a Monday+Tuesday slide down @ 317$ looked I was gonna be taking a complete loss with traders offering 375$ to exit with an 800$ loss but I figured what's the point of cashing out with a 75% loss and erasing the prior two weeks gains
| ||
|
|
|||
|
#5
05-21-2021, 01:36 AM
|
|||
|
Screenshot_20210520-223439.jpg
Note, the bottom of the arc yesterday showed an account balance of 2036: a $1200 swing down from where I exitted today. Not for the squeamish | ||
|
|
|||
|
#6
05-21-2021, 01:44 AM
|
|||
|
As for crypto: I like BSV right now. Down 36% from last months high, while not getting much action from this year's crypto rally making it due for some "catching up" with the market overall, which puts it at a 400 to 500$ price target if it does in the next surge circa the first week of july
| ||
|
Last edited by Gwaihir; 05-21-2021 at 01:52 AM..
|
|
||
|
#8
05-21-2021, 04:51 PM
|
|||
|
How low is crypto going to go gwaihar? I doubt I’ll ever buy any, just curious
__________________
God Bless Texas
Free Iran | ||
|
|
|||
|
#9
05-22-2021, 12:18 AM
|
|||
|
| ||
|
|
|||
 |
|
|
Hybrid Mode
