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Whenever a split occurs it always messes up the option contracts. The system can't anticipate the split & you end up with contracts that are no longer in the market. You can try closing them but if it doesn't work then you need to call your broker to manually rid of them from here.

If you've to get an opinion on an forum then usually the best choice to be made is to steer clear of it.

Put this guy on ignore. Feels like he's making posts just for the sake of winning an argument while providing zero intuition sense. (Waste of time.)

Your just assuming he hedged the majority of his portfolio when QQQ hit lows but judging by his word structuring it's quite obvious most of it was done way before it. My guess in the 320-370 range / maybe even ATH. Unless, he averaged down enough on shares to reduce his dollar cost...

I wonder if he's still holding these. They already lost 3/4th of the value from the time of his post.

Worth if you trade in the millions. Otherwise, you better have a very good strategy that makes use of it.

I think you need margin in order to trade options on IBKR but I am not certain. I gave up after waiting more than a week for approval.

Pretty certain futures are exclusive to indexes and commodities not individual companies.

Also, your suppose to hedge OTM, not Deep ITM contracts. He should be closing those for a profit once they reached deep ITM and renew OTM contracts as a proper hedge. (Strategically speaking!) But why should I care, it's his money, not mine! .

It makes total sense to scale out in this situation since his options expire in 2 trade weeks.. There is a high possibility he'll lose both on his long position and hedge by holding them til expiry.

Cause it's just common trade sense to take a bit off the table if your up 1000%+ per contract? He didn't specify how much he paid but we can assume they're up a lot.

I hope QQQ recovers like a mofo and hits over 300 before his expiry. :rolleyes: Those contracts hit deep ITM with less than 2 weeks before expiry. Yet, he is still holding them for hedge purposes. Makes no sense he didn't at least scale a chunk out in the low 280's. He is either trolling on...

Seeing a ton of sectors unable to withstand this bear market. Latest victim was the food packaging & retail department staples. Maybe it's just a matter of time these drug manufacturers take the hit as well. (Low beta does make a difference tho.) Without a doubt, it's the worse bear market I...

I don't know if he's trollin or still doesn't get it. Seems as if he's trying too hard to not acknowledge the obvious mistake+solution we just gave him which is sketching me out.

Isn't this like one of those title threads that forewarns disaster on the horizon.

I'd trade OTM options if... 1. They're capable of huge moves. Meme's, trending, upcoming catalyst etc. 2. You like the setup but lack funds and only wanna risk a very tiny amount but still feel there is a chance it would come green. 3. Your hellbent on taking options but shitty liquidity on...

Why don't you just test it out yourself and throw an order that is far away from the bid or ask & see if it is rejected or not. There is nothing to lose.

A lot of intraday trends don't hold well after 20 minutes esp in a bear market.

Reread what you wrote above. The way you worded it was to not take any action at all from start til the end of the tournament. In sit & go your avoiding action to wait for premium hands. That is called being patient. What your referring too is to not participate at all & let your opponent...

Shouldn't there be rules that you have to meet a number of trades per day/week. That would be stupid if you can stay idle and win a tournament. Also, you may be wrong if it's Sim Trading. Most traders become profitable in SIM. It's real trading that gets them. I like the idea, but at the same...