MAR COTTON Resist: 6980+/-, 7071*, 7187* Support: 6840-6790 Trend: Down Obj: 6903 ACHD TRP: 71.87 Comment: Market is bearish and Friday's accelerating selloff moves trade into a wash to test the 6790 swing low. Trade is poised for follow through declines. Closes over 7071* voids bear forces. Close over 7187* is needed for an upturn.
Market is down like my account, if only I had some firepower. I'm feeling miserable, on the side line while I was right all along
Yeah you called it man, a good lesson for your next trade. Technicaly this market does not look oversold yet and CTAs have not engaged, sell the rip
Hi poopy. Yes wings are so important. Regards 1x2s in general: What about call 1x2s if you owned the stock/etf ... Would the etf be immediately called away keeping you safe? .... and with put 1x2s, just treating it as a cash secured put expecting to get assigned? Would the main risk just be gapping?
Yeah, long the stock and the 1x2 in calls is fine. Used to refer to them as "turbos" (well, French banks did). I prefer the ATM fly with stock replacing the ATM leg.
Thanks! Just confirming ... if IV>HV10, would your preference be: SPY@601, buy 100x SPY, -2xdec20calls@620, +1xdec20call@640 type of trade? ... also it looks like there's still margin involved through IB