Thanks, Seth! Your mention on the “hits/clicks” certainly explains a lot why these doom and gloom headlines are so popular. Here’s another one today: The bond market is about to do something that could spell trouble for stocks

I have to constantly remind myself that the media’s interests more often do not aligned with main st investors. That’s…[Read more]

@binjamien Because of IB’s margin requirements I tend to do similar, but to this point I have bought my long call options when I put my short position on so that I can choose the strike more actively to manage my margin use.

I also stick with IB because the alternative for retail yet active trading platforms in Canada is rather limited, so I…[Read more]

My strategy has been been buying 2-3 month out UVXY calls at about 90-95% OTM (approx 2 times the current UVXY price). I try to load up on these on “quiet” days when they are cheap, collecting them in preparation for a VOL spike. Then when there is the eventual spike, I can short confidently, or sell some of the calls, if I feel like it.

One,…[Read more]

It’s set right now at 0.45 – 0.47, right? Where did you buy?

if you want to look at bitcoin’s past, it can get crushed and hover for months. I was early enough to the game that bitcoin has to drop a hell of a lot more than this for me to start suffering losses – so I’m lucky in that aspect. Take it for what it’s worth, but my gut tells me the exchanges and ICO’s and Mining sites are trying to accomplish…[Read more]

My VIX 10 15 May backspreads are above water today. I wonder if I could roll them out to July for a credit.

A week later this trade is now beginning to pay off.

I changed my sell order to 26.00 looks like might happen pre market.

This jumped faster than I thought it would. Had 2 more sells trigger at 25.35 and 25.55
Only have 1 more lot to let go at 25.75 then I am fully out

Been a good strategy. If Twtr stays up above 25 by open I am letting half go.

This is getting good, thank you. I refreshed my brain on the Greeks and understand your point on gamma risk toward the nearing of expiration. If we are rolling into weeklies as they come available, placing the sell orders by calculating a percentage of max, we can systematically pattern trade these put spreads. I can load it on a spread sheet to…[Read more]

Errata.

“…then take the max loss times that percentage, for example 80% (111 x .8 = 88.8) then round it however you like (88).”

I lost my edit button. That should read “…take the max profit times that percentage”. The example is correct.

“Yes, Michael is very generous with his expertise.” -Scott Mason

Michael is great. Before finding Michael I traded these products but stayed out of the weeklys. The liquidity is dodgy. But he has convinced me otherwise. It evens out the lumps, so to speak. Michael uses -.00864 as his daily decay. That’s a reasonable number to use. I ran the…[Read more]

…shorted again @73.20

I just bought to cover this trade for about 45% gain. Will do it all over if it dips about .50-1.00

maybe when Europe closes?