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Nice makes me wanna go spin the wheel. Really keeps things in perspective about positive expectancy and positive outcome bias.

The regionals are toast. Plain and simple. I'm surprised no one's mentioned this yet in the news. There are a TON of regionals on the brink of needing more bailouts.

Yeah I agree. It's starting to get ugly. Market off 260 finally some panic. Really tearing thru the bids. One thing is though this could be setting up for the largest sideways move the market has ever been in for the next year or so. We go thru lows we're gonna see a blood bath but...

Yup just saw it. He stepped in the way of the train. He's been on a cold streak lately that's for sure. I loaded in CITQ into my ticker...not showing up YET ;P

Eh they tried to toy with it. All it did was let the rest of the insiders out. Bid @ .78 go CIT. Make it happen. hah. The cycle on this was SURE bankruptcy. Shows how difficult to trade these plays can be though on the short side.

He's obviously got it figured out. I'd like the hear what he did.

Very nice strategy. :) Good to see things are going well with it. Curious, I still don't understand the reversal thing @ 1 ATR. What qualifies it to be a reversal? An initial move in your favor? Sorry about the confusion, I've just never trade options with a reversal before.

I'll keep this

Sad state we're in but we finally have a catalyst. Retail's the next to go, JWN/Coh

He's not going to spoon feed you guys. Get real. He's spent YEARS doing this and you expect him to just hand it to you? lol Do you know how much stress goes into this? Unfortunately some of you never will. It really takes a toll to learn this game. Why don't you just relax and...

No he's clueless

Dow off another 100. Nice 600 pts so for from the highs. Didn't catch the whole thing but so far so good Should bounce in ~ 2 days.

I don't get the name

Yup. Another idea is a certain volatility based stop (ex. mult. x ATR) used with a fixed $ loss for each trade. This will position you for volatility too.

Nothing's too simple.

Dow off 100. Not a shit-storm, but not a drizzle either :D

Nice. Was just curious. Yeah, it's a good approach actually. Options and stops are really difficult. I never used the underlying as you need to take into account theta burn and vega. I found it very tough.

-100

Curious why you chose 2*ATR