Well, you know I have a big set anyway, just by the way I am on ET. Just kidding. There's no rule of thumb for what options I sell, but I do only sell big s&p options. That would render me to be a fool, as that market is very anti-competitive. I'm lucky if they even post my bid or offer! I do try to sell options for $4-$5 that I believe will expire worthless. I'm also quite active the day before expiration, although that's a treacherous game, as the monthly closing prices always seemed to be "unusual".
The s&p failed to take out 1280. It failed to break out of the box, or whatever that means. Lower ahead!
So basically, you are now short ES @ level A with a stop @ B or are you going to average down on potential upside and where do you see next high on S&P breaking 1280 (if that happens)? I think that would be a clearer statement on your behalf, since we are traders, not just analysts. Cheers
Please read the post I made 4 posts above yours. Read the last sentence. Please tell us what it says. Thank you. Cheers.
OK good. So you know now I don't trade es, didn't even know what it was until someone on this site told me. I feel that there is massive resistance at 1280. Since the s&p closed today @ 1270.9, I would say there is more downside going forward then upside. In sum, the odds favor lower prices.
Selling premium ? How did that work for you rubberbird when you sold premium at 1180 before we ran to 1326 ? Why are you a permabear but claim you swing both ways ?
posted on 5/29 by bozo. Is it any wonder a vast majority of ET members voted that bozo has absolutely, positively zero credibility on ET.