ES Journal - 2023/2024

[Picaso]

Anyone knows what's the sweet level for tomorrow's expiration?

 

[donnap]

Tomorrow is TWD

TWD with a full moon. OMG! What does that mean?

 

[schizo]

TWD with a full moon. OMG! What does that mean?

It means all three witches will be coming for you: equity, index and futures options all expire.

 

[theapprentice]

It means all three witches will be coming for you: equity, index and futures options all expire.

If I wasn't scared before, I am now!

 

[Zwaen]

Did anyone buy puts at start of day?

 

[mervyn]

Did anyone buy puts at start of day?

buy puts are waste of money, rather sell naked calls, as many do.

 

[Zwaen]

buy puts are waste of money, rather sell naked calls, as many do.

I sometimes do this as a form of profit taking on (longer exp) calls, sell shorter term high iv calls as a form of buy write (not purely naked)

 

[mervyn]

I sometimes do this as a form of profit taking on (longer exp) calls, sell shorter term high iv calls as a form of buy write (not purely naked)

i knew a guy who does this daily, park his quarter mill cash in bills and sell spx/spx calls, 2% above the open price.

 

[Zwaen]

i knew a guy who does this daily, park his quarter mill cash in bills and sell spx/spx calls, 2% above the open price.

2% seems like a good number, I once tested for optimal buy write percentage which - for spy - was around 1.5% above closing price (weekly calls). Better to adjust the percentage based on expectations/drawdown market, but ofcourse difficult to achieve

 

[Nighthawk]

Take a wild, wild guess why the sell-off stopped at the indicated MA!