Gotta love ZERO RISK in the SP500 = $$$

Discussion in 'Trading' started by makloda, Jan 27, 2007.

  1. hajimow

    hajimow

    Future is down over 220 points. I look at my account, I see I am long GLD and some way out of money naked calls on ADI and lots of dry powder for action for tomorrow. I smile and sip my tea.
     
    #9601     Aug 31, 2015
  2. noddyboy

    noddyboy

    What will you do with that powder? Buy or sell?
     
    #9602     Aug 31, 2015
  3. hajimow

    hajimow

    It will depend how low it opens. I have ADI. MCD, TZA. GLD and SPY in my list now. Nothing else. Lets say SPY opens at 197, I will sell 189 weekly PUT with absolutely no stop. Not 5000 contracts. Only 4-5 contracts which should give me $500 for the week. Then sell my favorite 18 naked Call for MCD and ...... and then relax.
    I will also sell covered call 113 for my GLD.
     
    #9603     Aug 31, 2015
  4. hajimow

    hajimow

    I believe a few times that market dropped in the last couple of weeks and then bounced, were because of brave knife catchers. When they realize that the problem seems worse than they can catch or handle, market will lose its floor and will drop more until it give evidence beyond doubt that it is time to buy. I believe we will have more watchers than buyers in this market.
     
    #9604     Aug 31, 2015
  5. romik

    romik

    Interesting take on potential interest rate rise.

     
    #9605     Aug 31, 2015
  6. Blah blah blah...well off the lows by lunch...same thing over and over.
     
    #9606     Aug 31, 2015
  7. noddyboy

    noddyboy

    Let's just say that I sold SPY puts two Fridays ago, and I am glad I hedged it. Not time to relax because at Monday open, I would be wiped out.
     
    #9607     Aug 31, 2015
  8. ascending triangle on the 5m ES chart, holding on right now but looks like it wants to break lower
     
    #9608     Aug 31, 2015
  9. hajimow

    hajimow

    I agree. I see way out of the money puts. still can easily be wiped out. I have cash to be assigned the shares. That trade is in IRA account and is cash covered PUT. The strike price is 190.
     
    #9609     Aug 31, 2015
  10. Relax, won't be long now, Well off the lows within the hour
     
    #9610     Aug 31, 2015