PL is pumping, not my favorite because they can crush it in a heart beat. Banged out $.30s with BBIG, very cool!
What does this mean in dollars and cents? If beer drinker / trader Bud were to lay 400 dollars on that trade, how much money would Bud have had for some brewskis?
I allocate $5,000 for highly risky trades, all week I have not exceeded that for penny options. The first trade was SE $170 puts on Mon, paid $4 ave out $7.60 ave. $800 to $1,500 once it fell from $175 to $168.8. F $24s, $25s next, again on Wed-Thurs. BBIG $3.00c started buying at .08-.16(Saw wild volume happening at $2.55-$2.75), Last hour spiked driving calls to $.3/.38. 100 contracts only $1000, another 100 $1400. These are flukes, my goal has always been $300-$500 off a $2500-$5,000 account. I leave the Big Bucks for the Elite Heavies and gods like Dest! Still buy cheap beer and jerky!
Hydraulic sandwiches and 'roo jerky sounds good. Do you have a 'stop' level less than $5k or risk the whole magilla? If you are trading a $5k allocation with a risk of less than the entire $5k, how much in general are you willing to risk losing on each campaign. Thanks just spitballing here... SE puts risk = $5k, SE profit = ? F risk = ? F profit = ? BBIG risk = ? BBIG profit = ?
I will go in to more details after waking up, too much booze last night ! Risk I bail once volume starts slowing taking the hit. Give me a few hours to drink coffee, Cheers!
I play momentum and stocks taking out their recent highs. Today BBIG starts acting up on the $5 Calls. I slowly will take 10-20 contracts getting a feel for the trade. Once it feels like its obeying me, add more and more until the steam gets let out. In BBIG still, the $5s, its been freaking out. Edited: Risk started out with $600-$1200, scaling up eventually had $2,000 until BBIG proved it was going to crush $5.00. Also Menudo and Pozole help with hangovers
Wed, BBIG $5 calls and $4 puts, $1688, $65 NEM calks 50@.4-.5s, average out +$1,000, NVAX puts $550 (Tuesday)$1200 DWAC $85Calls. In modest account Bought X000 UL $46.09-$46.25.
Arrogance, LAZR $17c at $.4-$.43, options instead of selling at $.5, took a loss of $600. Dooh instead of a gain of $500.