I bought the $50 puts starting at $.4 to $.60. While juggling them I tried getting $3 but it never happened. The buyers came rushing back after the attack. How many attempts it took to break $50 was nuts!
If you were risking max 15k on annual profits of 6-7 figs, that hardly seems like a yolo - more like prudent trade sizing, though trading off the 5min I imagine you take a lot more scratches and small losses than I do.
It absolutely is! I liked your commentary on the chart. I doubt its as simple as this, but on the surface, it seems like you had targeted AMC to make a move, and had both calls and puts. Then as you said in a post above, add to the winners, never to the losers, and this is what you did. Now clearly you must have had certain strike prices in mind, but it essentially looks like you just had both trades on, let the market pick a direction, and then kept adding. Would you say this is 80% of it? Also, I don't see the line for the AMC long Calls that you sold which should have been for a loss. Did that just get cut off the trade summary page? (I'm also reminded of the trades you shared for SNDL where you were just buying and selling puts all day and I guess working the position in and out.)
@Dustin , thanks for sharing and congrats on the profits. Maybe I'm having a Homer Simpson moment, but, what am I missing? You bought some long puts on AMC and the stock fell sharply and you made a lot of $$$. Great. What's the learning here? Was your decision based on some indicator/TA whereby you saw the impending fall in the stock? Was it price action? Was it just an incidence of luck?
the learning is that he’s so smart he knew it would be a 100k the day before and instead of trying to make it a 200k day or more, he only earned 50k.