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Yes, Powell likes to flex his power. I give a higher likelihood of .50 raise than the consensus, based on personality and history of Powell. He likes to strike fear into the markets.

CTA = Commodity Trading Advisor

"I trade a lot of vol" vol=volatility vol=volume ? How much did you make when you flipped the watch?

I understand all of your percentages, but I've also watched XOM for a long time. Maybe it has peaked, maybe any bad market reaction, maybe it will drop 5 points. I know, that's a lot of maybes. I paid .71 for the puts, if there is any degree of negative reaction i can at least recoup some of my $

What quote? I noticed your affinity for TheDawn. I'll try to never commingle.

Good that newwurldmn is a friend, at least I understood the acronym WTF. Today is Tuesday. Fed decision tomorrow. Powell speaks tomorrow. How do you know that my put will go off worthless?

You were right in that I did not FULLY understand what the hell I did. Thank you for helping me think about it.

Take it easy everybody! If you care to know what I did (in terms of XOM) ... Today I sold 5 x 123C with a March 10 expiration date. XOM 03/10/2023 123.00 C I'm still holding the 5 put contracts expiring this Friday XOM 02/03/2023 111.00 P When JP farts tomorrow maybe the markets go down, take...

TP as in (taking profits) is definitely the hardest part of trading/investing.

Thanks. I know about the cap on the upside. Had my SCCO assigned as gold/copper/iron ore went nuts in January. I like to sell covered calls. So far, I have done very well. Making money whereas before I would just be sitting and watching my portfolio go up and down.

You like to buy and sell... Sounds like you have been around.

I've owned XOM for 20 years. So don't want too much tax liability all at once. Thanks for making me think. PS I really am a math teacher.

Do you own the yacht?

PS I thought that what I just did was to take out an "insurance policy" on my 500 shares of XOM

I think in anything they call it a teachable moment...

Let me try... If XOM went to 130 I would sell covered calls at strike prices of 135, 130, 125, 120, 115 (my puts would be worthless) If XOM went to 100 I would consider selling my puts,, maybe put brackets on them (they expire on Friday) and I would likely just hold my XOM.

Let me start off by saying that I have always been a "buy and hold" investor. So I started selling (writing) covered calls because I was trying to create some income rather than just watch.

I am long 5 x 111C Why do some people just refer to that as "protective puts"? Yes. It is useful and I am starting to understand. It seems like in most of your analysis you like spreads. I'm trying to convert from a "buy and hold" investor to one who more actively tries to make money.

I fully understand that I bought 5 puts. I fully understand that I own 500 shares of XOM.