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Yes, but I think the quick spike down to 2700 just before the number was ample reason to either cover or play some sort of long, TL support in that area as well. Yesterday I thought it was following the 3/25-26 pattern, turns out it was off a day I suppose. The lack of an expiration Friday...

wow. squeeze to squeeze to squeeze

First off, it's a joke. Lighten up Secondly, it's a response to the OP spamming this board twice a day to tell us how bullish he is and how many SPY calls he's bought. FWIW, I've been slightly bullish past few weeks but I'm not on here to make sensationalized calls.

Pretty basic I suppose. If I win $5 (5 out of 6 times) and lose $50 on the 6th bet, then I've lost my shirt. Now this would typically apply to someone selling naked options or trading futures without a stop loss. On the other hand, if you are a buyer of options with a guaranteed stop out...

But if the 1 out of 6 is an extinction level event, it's terrible odds. Rickshaw Man would talk about 70% of the time markets rise in the overnight, except that when it isn't/wasn't on robo drift higher, it would/will wipe out months worth of gains in limit down moves. It's a tough game!

I'm basically saying that the 90% figure is usually a pretext by vendors to sell the uninitiated on the idea of "income trading" or "trading like a bookie", etc, etc. I've got a collection of books from over the years that are filled with this quote and sadly it never went away! My main point...

Green Day to the gulag if no new highs by end of April. Seems fair to me.

This quote is probably responsible for untold $$$$ losses over the years. I have no doubt it's true, YET the path the option takes on its way to zero is what counts.

Still looks like its following 3/25-26 pattern.

Interesting topic. For instance, what would be the odds of three boom/busts in two decades (without the constant intervention and policy errors creating these bubble/bust dynamics).

There are about a half dozen of these wind up toys roaming around here the past month. One of their tells is that they can never contain their insanity to one thread.

I hope not. Funny for a little while, but he is pretty relentless.

Pretty decent channel visible with target up around 2875+

I'd encourage him to make these same posts as the market is cascading lower. Neither method "costs" anything, but at least he'd catch a few fish who think he might have some guru cache.

You might have the "tilt" gene. 7 CL's is pretty f'ing crazy.

You first.:thumbsup:

I'd just trade vertical spreads.

A couple of things I'd be interested in: 1) Do you leg verticals or just fill a fly combination order? 2) Do you trade index call flies differently than index put flies due to the skew on the put side? 3) Do you trade near expirations or 60,90 days out?

I think this guy is pushing all the buttons this AM