Picked up some $337.50 Puts for $1.60(after the fact I post, just sold for $2.90-$3.00). These move way to fast to post or I would miss out on the move.
I have missed out on good opportunities by sending in a limit too close to the market and not getting a fill, or only getting filled on a partial. If I'm right I can't get in quick enough. When I'm wrong I know it because I get a much better price than I anticipated.
This Market is brutal, its not forgiving and limit orders just sit when our instrument we want to trade is telling us to act. The new sideways chaos is going to crush all our new Robinhood traders, I hope they took profits because I hate seeing anyone get slammed.
I had a limit order on NETE at $3, just sat so I changed to Apple Calls and Puts. Its a thin stock usually now at $5.
The spreads on the SPX options at the open this morning were brutal. I saw $2 and $3 bid-ask spreads on some strikes for the first 15 minutes or so. The closer to ATM the wider the spread. The farther OTM strikes normalized first.
I saw the wild spreads at the Open, same happened yesterday when I was buying INTC $60 long dated Calls last hour. Why does the spread expand by $1 on highly liquid items?
I honestly do not know and cannot tell you why these are sometimes priced differently at the open that at other times.
I read a Tweet by a former big option MM, he said he was "selling the SPY Calls during the Gap up making money hand over fist" because he knew the Spike up was bogus. A Stanford-Wharton PhD ,MBA, ECT. These guys are having fun with the spreads.
OMG, the cabal is going to raid your house now, because your true PnL identifies you clearly. I think you should take extra precautions and move out of the country. Only way to be safe.
Hey, I was reading some of the posts by Elite Traders who were saying putting down gains can be detrimental to your social health. After seeing Barstool put his $600k gain I decided I don't care. The intent of my journal was never to brag, my goal was to give noobs an idea you can make gains on even a $5k account. That IBKR $5k is now headed to $50k since April 20.