you think VIX has more room to spike? i think it may have more room to run - broke long term triangle VXX...
yanivkatz77777
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hey i just sold for 15 dollar a share what the price u suggest to buy in again ? 12 13 ?
Spotshooter1983
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Hey Beautiful charts
I routinely sell out of the money cash secured puts. I buy calls on twice averaage true range 21 day bumps to the upside. I had a March 9 strike put position that i have now bought and sold 4 times in the last 8 weeks . I have the last of those nicely eroding as the upmove and time deacy erode the position raidly the father away from $9 to the upside. This is a residual position that likely I will exit at 21 days or when I have gain 50% of what I was paid.
This move is solidly to the upside at twice average true range. It broke and I did not buy two days ago, then fell back and now it is solidly above twice average true range. I am a classic turtle trader to the upside.
My entry here is simple.
This morning I bought the $14 strike calls and sold the $20 strike calls for a net debit of $1.03. This is the first tranche and then at every additional run up twice the 20 day average true range I will use an additional 2% of my capital. My stop loss is a loss of 40 cents per contract (setting the stop loss at $60 per vertical.
Pick a narrative:
Elevated general market fears
Broker dealers that have had their capital structure hurt on the GME, BB etc Reddit issues and so forth.
For whatever reason it is time to again put 2% of my total account value to work here right now.
Bibliography for those new to this and apologies to theose who are seasoned and very well read on trading a trend. Michael Covel's books starting with "The Complete Turtle Trader." Then follow that up with Jim Paul's book, "What I Learned Losing One Million Dollars." Then on to the most succesful turtle trader Curtis Faith who wrote two books, "The Way of the Turtle" and "Inside the Mind of the Turtle." hint: Curtis Faith was the most succesful because the trades were presented and then he just mechanically followed the formula. No heuristic fears or greed - just the math. finally a classic on position sizing to stay in the game Van Tharp "Trade Your Way to Financial Freedom." Corney name fabulous essential reading. get after it.
message me to discuss these if you'd like.
The math keeps me in the game after the decision to make the investment.
We could make some money here.
Or it could reverse and my residual puts will still be golden. Don't see how volatility is low enough under 50 days remaining on the 9 strike puts and on that note....
all the best...
winter44
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Well, I'm out of UVXY calls. Sold into weakness around 12.9 to 13 on UVXY.
Yeah that's UVXY weakness, not S&P weakness. Oh well. Futures looking down again. Perhaps more selling ahead?