Do you guys ever get tired of me being right?

wxytrader · Jul 10, 2024

tomkat22 said:
Yeah you also posted GME would be 32.00 by june 24 according to your EW mumbo jumbo Voodoo bullshit. It's never even comes close to that.

upload_2024-6-17_10-56-32-png.342440 (761×604) (elitetrader.com)

The GME call (it was actually a triangle and a cypher not EW) remains $34..as I mentioned T+35 (May.10 to may.17 55M FTD's) was hit on Jun.24-July.16 window.

Volatility is getting squeezed so somethings gotta pop...this is the beauty of not using stop losses...you can actually wait for the trade to come to you. You gotta be dynamic in this business not rigid.

tomkat22 · Jul 10, 2024

wxytrader said:
The GME call (it was actually a triangle and a cypher not EW) remains $34..as I mentioned T+35 (May.10 to may.17 55M FTD's) was hit on Jun.24-July.16 window.

Volatility is getting squeezed so somethings gotta pop...this is the beauty of not using stop losses...you can actually wait for the trade to come to you. You gotta be dynamic in this business not rigid.

View attachment 343734

Here we go with the excuses. Your EW BS call clearly said GME would be $32 on june 24 and it's STILL nowhere near that. Just own it,EW failed on that call.(as I'm sure it does most calls)

wxytrader · Jul 10, 2024

tomkat22 said:
Here we go with the excuses. Your EW BS call clearly said GME would be $32 on june 24 and it's STILL nowhere near that. Just own it,EW failed on that call.(as I'm sure it does most calls)

As mentioned the GME call hasn't changed at all. Why are you so fixated on dates? They are irrelevant if you are holding stocks. If you are holding calls then that's your own fault for being stressed about having to overcome the spread, fees, & time decay...I probably sold them to you lol. Anyway, there was a 2 week window for this to materialize going between Jun24 and Jul16. If it doesn't happen then I park it, and move on to other stocks. I haven't even checked GME until you posted this. Relax man, enjoy the outside world, don't be staring at options chains all day lol.

taowave · Jul 10, 2024

Ask him how CLSK is doing..Hes long at 23

tomkat22 said:
Here we go with the excuses. Your EW BS call clearly said GME would be $32 on june 24 and it's STILL nowhere near that. Just own it,EW failed on that call.(as I'm sure it does most calls)

tomkat22 · Jul 10, 2024

wxytrader said:
As mentioned the GME call hasn't changed at all. Why are you so fixated on dates? They are irrelevant if you are holding stocks. If you are holding calls then that's your own fault for being stressed about having to overcome the spread, fees, & time decay...I probably sold them to you lol. Anyway, there was a 2 week window for this to materialize going between Jun24 and Jul16. If it doesn't happen then I park it, and move on to other stocks. I haven't even checked GME until you posted this. Relax man, enjoy the outside world, don't be staring at options chains all day lol.

Fixated on dates? That's literally the definition of trading stocks! Even for an options trader. And june 24 to july 16 is not 2 weeks. So GME has 4 more market days to hit $32 for your EW call to work? Good luck with that. And you're the one who bumped an old thread(only to have you nose rubbed in it).

wxytrader · Jul 10, 2024

tomkat22 said:
Fixated on dates? That's literally the definition of trading stocks! Even for an options trader. And june 24 to july 16 is not 2 weeks. So GME has 4 more market days to hit $32 for your EW call to work? Good luck with that. And you're the one who bumped an old thread(only to have you nose rubbed in it).

You're not making any sense. Why does date matter? The trade is at work. Let it work.

deaddog · Jul 10, 2024

wxytrader said:
If it doesn't happen then I park it, and move on to other stocks.

What does that mean, park it?
I'm guessing that you continue to hold that stock until such time as it gives you a profit. You stop watching it on a daily basis and check it once in a while, possibly set an alert for break even or some profit target.

wxytrader · Jul 10, 2024

deaddog said:
What does that mean, park it?
I'm guessing that you continue to hold that stock until such time as it gives you a profit. You stop watching it on a daily basis and check it once in a while, possibly set an alert for break even or some profit target.

Yes. I manage risk by capital allotted...not by time or by price levels. I can sell calls against it but with GME I feel there is more to be made by holding.

tomkat22 · Jul 10, 2024

wxytrader said:
You're not making any sense. Why does date matter? The trade is at work. Let it work.

So you'll still be holding GME a year from now when it's dropped to $7/shr? Or accepted the loss when your option expires?

wxytrader · Jul 10, 2024

tomkat22 said:
So you'll still be holding GME a year from now when it's dropped to $7/shr? Or accepted the loss when your option expires?

Now you got me at my desktop geez...trying to enjoy the 104 degree weather.

What option?

Ok I would sell calls against my position, so Jul 26 30 calls are @.86 so that could generate 800*.86= $688 in premium every month if we stay range bound, plus I would pnl $3200 on the position if I got called away.

So lets add this up.

4k in premium to date
8k future premium

Current position: 800 @ 26ish
26* 800 = 20,800 - 12,000=8800

8000/800=$10

So even if we are at $7 next year, I am only down $2-3k...literally the same as I am now lol. This isn't including the 16k profit I made in June.