Just make sure that you have a defined strategy, with a discernible edge. Don't go picking trades on a whim. There are plenty of traders who make money solely trading indices, others with single names, and some that trade both. The key is to have a system that generates trades with positive expected value, regardless of the product.
Anyone going bearish the market? I'm looking for a pullback with JUN SPX OTM put flys, funded by covered call position on bluechip stocks. Also being reckless and sold SPY JUN 150C naked.
Yeah, I am working a couple of bear put spreads on SPY and QQQ. Not exactly going my way right now tho.
Ryan, sorry to hear about your mom. I am long over 100 each the 550/590/630 and 570/590/610 flies in AAPL for May18. $16.20 and $4.40 at risk, respectively. The rationale is a 200-300bp drop in realized vol on the hold. Stock gave back the gains, so I expect we trade to 77 tomorrow, but will touch 90 by Friday. Looking for 2.00 on the narrow fly and 3.50 on the wide.
I waited until today because the first day of the month could be strong. I had SPXPM JUN front spread 1360P/1300P for a while and doing well, but decided to complete the fly with JUN 1240P today, which I funded by selling equity OTM MAY puts and a bit of naked SPY calls. I'm bearish but not overly bearish.
Sorry to hear about your mom Ryan. I hope she gets well soon. I don't pray or anything but I'm sure the doctors there are capable enough to take care of her all good and also that your family is strong enough to brave it out and come out happy! Wish you the best bud!
Test Still trying to respond to this thread. Lets me read it, but not reply. Sympathies and good wishes to Ryan and his Mom.