I don't think we'll see 15,000 NDX or 4500 SPX this year. The rotation into cyclicals is to be expected. I really only see GOOGL as a buy here. It's the only long-term equity position that I own. I would actively short a touch of 3250 AMZN.
Hmm. I don't want to comment on the level of spooz (*) but i do think we gonna have more of these explosive rallies (*) though I am tempted to do an over/under vs current level - the winner pays for the gun range tickets in Vegas?
Preference for straddle, diagonal or backspread? Was thinking of a put backspread 3850 June, about 4.90 CR to put on. Vol 24
Why not? With record earnings, low interest rates, stimulus and an economy re-opening, I can't see this pullback being nothing but washing out weak hands. Unless there's any undesirable developments with Covid or another black swan, a 10-20% annual return would be reasonable. The only question I have is whether the current pullback has caused enough pain for it to be over. NDX almost. S&P not sure.
lol! Mkay, my back of the envelope price for 4500 one-touch is even odds (you never gave me a quote) which feels fair Same notional, i.e. gun range tickets in LV? I always wanted to go, just never had a jungle guide
Hi Destriero, When will you exit this trade if it wins? Like after gain 50% then you get out or you will try for the maximum gain? Also, do you manage it if it starts going south? Or cut loss and open a new one? And if cut loss, do you cut loss after 50% loss?
I haven't looked at it. I should probably cut it here. I only traded it for illustration. I wasn't trading an opinion on UCO; I was showing how to start trading (URO) positions small. I can't tell ppl when to take profits or cut risk. I suppose it made more sense than stating "buy 50 XYZ and short one call." IMO, I cover all positions when I have earned more than 4X the vega position (on the day). Delta is another matter and beyond the scope of this thread.