This guy shorted "presumably" Mar 240 SPY calls at 1.4. That's the equivalent of making 14 handles on the ES. This is a joke. He's being a drama queen with his downside targets of 50 to 200 handles when the idiot capped his profit at 14. You would think the dude would have more conviction to short some real hard deltas. Instead he sold calls for a 1.4. Someone nuke this thread. It's a waste of time.
If you don't want to listen to me, then perhaps listen to the market “The options market is pricing in greater volatility ahead even though stocks don’t yet reflect this same dynamic,” Felder told MarketWatch. “Over the past few years this signal has preceded anywhere from a 2% to a 10% correction.”
Math isn't your strong point for sure. Explains why you failed at trading Show me where I shorted 240 calls for 1.4? Pretty pathetic you result to spewing bullshit lies but I expect no less from a tst pumper. Spy 240 calls cratered 70% after my top call. Where are your posted trades?
Up for the week yet still topped like I said So argue all you want but the S&P has indeed topped for now. As I said all along, I will admit I am wrong at 2426 if the Bulls can find some balls.
You guys want to argue semantics. Micro, macro, regardless i called this top in a blow off short squeeze within 1 point and the market immediately pulled back 1 %. I guess I should edit the poll and change it to Short term top since 50 years from now SPX will be higher than 2400.
https://www.elitetrader.com/et/threads/the-s-p-has-topped.307293/page-7#post-4417228 They went out at .70 to .75 today. I gave you the benefit of the doubt that you sold the high tick of the day. Congrats, you sold a 7 vol call. Bloody brilliant. Leave your 200 pt downside tgt out of this. Your upside is capped at 14 handles. Nice job man. That's the daily range for the ES with your HUGE macro call.
It's telling me that smart money has to create a move up to sell accumulation into before a move down.