Recent content by 00wreckless

Congratulations! I have much the same story! I opened this account in 2011 with $1000. I mostly trade equity options, and mostly spreads. 2020-309 fills, $1395 in commission P/L YTD for 2020 Best trade for 2020 TSLA

Nevermind, think I'll close my position. Biggest Oil ETF ‘Almost Unanalyzable’ After Ditching Disclosures By Katherine Greifeld April 23, 2020, 1:56 PM MDT USO will invest in any month of contracts without disclosure Shorted USO shares tripled between late Feb. to April 21: S3 Biggest U.S...

https://www.prnewswire.com/news-releases/uscf-announces-one-for-eight-reverse-share-split-for-the-united-states-oil-fund-nyse-arca-uso-301045001.html Reverse stock split A reverse split results in the reduction of outstanding shares and an increase in the price of the underlying security. The...

The value of currencies that equities are traded in might be a large factor in the current rally and moving forward. The Fed has cut interest rates to 0, and they are printing an unprecedented amount of money. They are not alone, governments around the world have similar efforts. I'm just...

Flotilla of Saudi Oil Threatens to Worsen U.S. Supply Glut https://www.wsj.com/articles/flood-of-saudi-oil-looms-as-u-s-drillers-face-supply-glut-11587119400 Glutted Oil Markets’ Next Worry: Subzero Prices https://www.wsj.com/articles/glutted-oil-markets-next-worry-subzero-prices-11586943001...

I like it! 1 contract, risk $172, breakeven at $3 or $8 by 16Oct20 oil goes to $30 a barrel by 21jan22, make $2000, risk/reward 1/11 what's not to like? Acctually, I like this better, expiration 17Jul20 and 15Jan21, 4/5 strike breakeven is $2.87 and $5.50, and delta is -40@$3.00 and +92@$10.00.

I think I understand. You found a setup to trade delta, and you are not sure how to mitigate or take advantage of IV? I have to get to know IV for the underlying, to see what "normal" is and if it directly correlates or, is inverse with the underlying's price movement, (ie what drives people to...

U.S. Oil Fund to Move Giant WTI Position as Market Sours https://www.bloomberg.com/news/articles/2020-04-17/u-s-oil-fund-to-move-giant-wti-position-as-market-sours I'd be careful around oil ETFs right now.

Option spreads on equities. Bull call spread, $54 risk, $2500 return, I got out at $2400 two days before expiration. Leverage is 44 times reward to risk. Just remember this trade had like a 2% statistical probability of working out in my favor. I originally had my limit order in at $.76, it...

I have a bear call spread on USO expires 15jan21, I'd like to ride it down and buy back the short side when it's out of the money. I would like to end up long USO by June. I am one of the fools that read the Seeking Alpha article on Contango. I must admit, in futures contracts I know just...

I like WTI $40 by the end of the year. I too think US shale will be pushed out. But how low can it go? When storage is full and there is not enough demand for it's use, every barrel that comes out of the ground will drive the price down. I have a bear call spread on USO, trying to take...

Agreed, but you must admit both AMZN and NFLX had their own mega rally this week. I have a GTC order to sell both bull call spreads on AMZN and NFLX because they are in the money and I have no idea which way it will go! Might be a good time to sell volatility next week.

Or, new permanent habits have been formed streaming Netflix content and ordering essentials on Amazon.

No one can predict the future. Roughly, at current historical volatility, there is 60% chance of TQQQ expiring on April 24th above $60. Are you using stop loss? If not and you make trades like this 10 times, you will loose 4 times x $400=$-1600 and win 6 times x $100=$600, you will be down...