How to short the S&P using options? Day & swing puts

And you need the rare quality you appear to possess. Letting your winners go..and go...and go

Dont underestimate that gift

I definetly do not have it

 

I personally don't think great/rare traders have a special gene, or gift, or touch from God.
But rather it's a conditioning and experience and perspective they have absorbed.

I wouldn't expect a group of firefighter traders....college professor traders...professional athlete traders...high school student traders....adult actress traders....corporate ceo traders....and monk traders to all perform the same.
Each person/group...has been shaped and molded by their past conditioning...that may help, or hinder, their future success in trading the market.

Great/excellent/rare traders are made, not born.
If you put a snake in a lion's den or zoo...it will starve to death. If you put that same snake in a mouse exhibit it will survive and thrive.
You have to put the right killer in the right environment.

 

One key skill that takes years of practice to get better at and is very helpful, is to be able to recognize outlier high volatility pattern setups where you at a very clear advantage.

I like that analogy about environment, much like you can be a great trader but if you're trading a choppy chart during the middle of the day when it's a choppy market it doesn't end well despite your trading skills. No soup for you.

 

The word One has On in it. -- To be the One, you have to be On.
The word Skill has Kill in it. -- To have Skill, you need to Kill.
The word Years has Ears in it. -- To have Years of practice and expertise, you need Ears.
The word Practice has Ice in it. -- To Practice, you need Ice, patience.
The word Better has Bet in it. -- To Better, you need to Bet, and do.
The word Recognize has Cog in it. -- To Recognize, you need to understand each component, the Cog.
The word Pattern has Pat in it. -- To see a Pattern, you need to Pat, be gentle and calm.
The word Setups has Set in it. -- To have a Setup, you need to Set rules and variables, assumptions.
The word Advantage has Age in it. -- To have an Advantage, Age, experience, wisdom is generally required.

 

And the word ballad has ball in it. "Be the ball".



And enjoy life. Don't take it too fuckin' serious or esoteric.

 

Ken a piece of advise for you is stay away from options . You’ve been searching for a top with 3 x inverse bear etf’s for a long time with very poor results .Selling these options can go against you 100’s of % very fast .The reason 98% of traders fail is they are inherently bearish ( a stocks up 800% in 9 months surely it will fall 30%). So all try to short top after top after top providing rocket fuel . The time to short heavy is the hardest time to short . When the mkts free falling . That’s when few dare to short as all bottom fish . It’s a rare shit up but yrs of income can be made over a 3-4 week period .

 

98%?? I see plenty of top calling, but hardly any shorts around here?

 

Nobody here has told him to sell options.

 

Since these are 0-DTE options, in general, what is the latest he could sell his puts to prevent getting stuck in the trade and being forced to settle into a short SPY position at 449 x 1000 shares at the end of the day?

I don't trade options, just trying to get my head wrapped around this, but who would want to buy his 0-DTE puts that expire in an hour or so?

I've only traded MES futures, so I hope I asked that right.

 

you find out that they shorted after the selloff because the chart was screaming that the market was an obvious sell.