Sold my NEGG for a nice gain today.

Looks like the meme stocks finally ran out of steam.

I'm more leaning to options expiring on fridays mean short the price to put as many OTM as possible.
especially with the potential for this to take off as more and more go ITM

nice man.

been watching a lot of scott stewart videos and been doing some iron condors on tastyworks with futures and SPY.



a great video on a breach of his put leg and how he mitigated it. 13:35. i initially wanted to get out of watching stocks all day as it takes up a lot of time, and then fell in love with iron condors and whatnot, but then realized 0dte ICs do take up a lot of time as well. so i figured man, i'm gonna try futures instead. i think i'd rather get some good scalps in the morning and be done for the day. i've been spending too much time on stocks

i've also been messing around with ninja trader and really love its UI and especially the chart trader widget. thing is amazing. i'm thinking about leasing it or buying it for the one time fee. i think i'll do a quarterly lease, and throw in 1k and do micro e-minis and see what i can snowball.

i watched some michael chin videos on youtube on his ninjatrader setup for scalping. helped immensely to get started. i was trading on the ninjatrader continuum account, and snowballed up quite a bit, but i'm sure it's far different on live.

i'll report back to see how far i can get this 1k snowballed

This post was edited by ChocolateCoveredGummyBears on Jan 21 2023 01:53am

Pain trade is upppppppp

With the lunar new year upon us I wish you guys good luck!

I'm sticking with stocks mostly, I've gotten burned too many times with options. I have been watching and studying the charts but the market acts irrational at times and sometimes I think it's better just to Yolo into tesla or amd at the beginning of the day and hope for the best.

i agree so much, the market really does feel irrational

a nice strategy i've been having fun with, is buying long call butterflies on each side of TQQQ (or whatever stock you'd like). remember super mario world and that one castle level where they have those grey traps on the ground? those are basically butterflies, where the highest amount of $ is at the center of the spike. think of laying traps on each direction of a stock. this can only work on a commission free broker. i call it the poor man's butterfly

for example: last week i bought 1 butterfly on TQQQ @ 21.5 and the other one at 19.5 because i don't have a crystal ball. each cost $4, with a max profit of $44. potential max loss is 8, with profit of 44 (still a decent risk:reward ratio). on 0DTE SPY, risk is $8 for $96. however, downside is if the stocks blow past your traps

if you've ever played poe, think of glacial cascade


the glacial spikes are each individual butterfly. lay the trap/use the skills on each side of the stock. this strat feels fcing euphoric because no matter what the market does, when you check your brokerage app, you'll 90% of the time see green

This post was edited by ChocolateCoveredGummyBears on Jan 24 2023 12:04am

Options sellers making BANK on Tesla

The implied move was 9.1% either way. Currently minimal reaction

Some dude on stock twit bought 50k worth of OTM calls and puts - imagine being that person right now lol

if you bought $tsla when it was at $101....

aight we bouncing to what seems to be a possible semi-bull.
about to find out more on feb 1st and feb 14th when new info on inflation and rates comes public but seems good.
dxy on a drop too which is bullish for crypto

told Bazi to, but it was too cheap for him.

Anyways that's only a scrub +50%. Many cryptos did a x3 after taking a -98% or so in 2022