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Having a gap down Monday is the worst-case scenario for me since everything expired on Friday. I barely traded today, and ended up slightly red on the day. There just wasn't much to do.

I play both sides, there have been some great long breakouts the past year.

You got it.

It can be market breakouts (momentum trades SHOP ADBE), breakdowns (yesterday AAPL), unusual stock activity (GME, TSLA, PLTR, NIO, VIAC, CHK last year, SKT, FOSL, AMC, RKT etc). Lots of different style opportunities. Identify the opp, then make a trade plan. How to best leverage the idea...

MSFT could have been so pretty today but never gave it up.

I tried to do this a few months ago. After weeks of back and forth I gave up. It was some of the worst customer service I'd ever experienced. FWIW I wanted an actual account to use, not to just close later.

Sure, there were two with the 147 and 148's. This is more about the how than the why. 148p: I came into the day with no position for this strike, but it was the first that I bought at the open. From 9:32 to 10:12 I bought 589 contracts at an avg of .21c. I was targeting a 5x and started...

Thanks, I still chat with Szeven and Corey every day, they are doing well. Yes, this style of trading is 90% of what I do these days. I don't have stops, but if it looks like the stock is acting wrong then I will take the loss and move on, and/or move to the next strike.

New journal here.

Today was another fun day, and an excuse to start a journal as was mentioned in my previous AMC thread. The goal here is to post occasionally and answer any questions you guys have. I'm not at risk of giving away secrets because mostly everything I trade is plenty liquid. Trading style: I...

For naysayers, the float can be a valuable metric when trading microcap runners.

Yes, the optimal time is when the stock hits your target. HFT will price these to perfection throughout the day, and they will quickly go to 0.00 at the close if otm.

I enter with the screen below just using mouse. FWIW I'm a big fan of LS, they are rock solid through market stress and didn't do any of the GME b.s. trading restricions in Jan. You can check it out for yourself here...

I'm considering a journal, but just to post occasional stuff like this. The spread on those are a penny, they are thick.

If I'm 90% sure the trade is dead then I will take any bid. Even at a penny if I have 200 contracts that's $150 saved ($200-$50 commissions). These add up.

I the trade is clearly failing then I'll just hit the bid with Lightspeed smart router which doesn't charge taker fees. Yes, I only get rebates for adding with a limit order.

Yes, I like 100% defined risk, so that was $5k max loss. If the trade looked like it was going to fail then I would have tried to sell for 50% loss or whatever was left on it. The trades I get stuck with that go to zero are usually the nickle increments because even if there's just a penny bid...

I use L2 but it's all about the charts. I like the leverage the options provide. I risked only $5k (not enough in hindsight, but I also had the $50p from previous day) on the $48p and made $26k on a $2 move. With stock I would have needed 13k shares, or a $650k position.

Yeah.

There are always cheap options toward the end of the week which is why Friday is statistically twice as profitable as any other day for me. Finding the mover on Friday pays big. Yes by leverage I mean 5-10x+. Correct that the 49p wouldn't have worked as well, they were probably about 50c...