I Bought SPX 14 Jan 22 4850 calls at .58. Lottos. As is said on Fintwit. not too crazy based on how SPX has moved.
Nice seeing if we can get a big squeeze now on the shorts. Was a nice pull back on first hit, this second hit looking good for the squeeze
4731 met, first batch of trade is done, 88 points. really don't want to go short after exited at 4738 but now seems the sellers are in control.
Hmm caught some nice longs, not up tons though. Didn't catch any of this short wasn't able to switch my focus after we broke above second time, thought we would get a bigger squeeze. didn't think we'd get this big of a pull back, the that's always the problem with "thinking" instead of just trading what is lol. Looking for long setup now or if get nice fast rally, may look for a short.
All perspective. Looking at an hour chart. Or even 15 minute. It doesn't look like much pullback. But on shorter charts looks like cliff dive? Maybe?
Got a small portion of that long setup.... don't really have any strong probabilities currently, so just staying flat or trading very light.
Well I don't trade very large accounts and I am day trading, so a 206 point pull back on NQ is pretty large from my perspective... that's a $4120.00 move on just 1 NQ and still a $412.00 move on just a micro. I am extremely active and trade small, medium and larger charts. From a Daily perspective the pullback was pretty small, I agree. But for a day trading perspective or if nothing else at least mine, that's a sizable move.
ES is the only half way decent looking one, will need it to continue to show relative strength to the others. RTY failed to get above 2214.50(couldn't even touch it) and NQ only briefly got above 15987.25 and hasn't been able to regain it all day. Not impressive at all, for just coming off of oversold, although it's true it hasn't really fell apart yet either. Good trading today, tons of long and short setups all over the place. I am still slightly bearish bias, until NQ/RTY at least start trading above those levels, particularly candle closing above would be even better.