Be nice, in this business you win some and you lose some.
Asked me back in March how my long call options and short put options were doing.
I Got this one wrong guys.....
- Thread starter Max E.
- Start date
Asked me back in March how my long call options and short put options were doing.
No doubt! And one of the keys to this business is FLEXIBLE THINKING and not getting locked into a particular point of view. If the forces moving the market want to take the market up or they want to take it down, I'm not going to argue with them.
What you described is too familiar. More often than I care to admit, I was right on the underlying direction, magnitude and even timing yet my calls/puts lost money.
May I ask why SQQQ doesn't track 3X inverse QQQ? There are no implied volatility vs HV or time decay in SQQQ?
You short at $10 naz down 2% so sqqq up 6% so its $10.60. Next day Naz falls 2% the exact same amount it rose the day before so sqqq down 6% so its $9.96. So why isn't sqqq back to $10 were the naz was yesterday? % declines are greater off higher #'s in nominal terms. I didn't even add in erosion and time decay which is even more brutal . So 6% of $10.60 is greater than 6% of $10. Take that same 6% back and forth over weeks and months were the naz goes nowhere and your dead . No different than options .
Be like water, my friends! (Bruce Lee)
Thank you. I feel so stupid.
Jerome Powell: Well, there is a lot more we can do. We're not out of ammunition by a long shot. No, there's, there's really no limit to what we can do with these lending programs that we have.
https://www.cbsnews.com/news/coronavirus-economy-jerome-powell-federal-reserve-chairman-60-minutes/
"We are committed to using our full range of tools to support the economy in this challenging time even as we recognize that these actions are only a part of a broader public-sector response, Powell said adding that "we expect to maintain interest rates at this level until we are confident that the economy has weathered recent events and is on track to achieve our maximum-employment and price-stability goals."
https://www.federalreserve.gov/newsevents/testimony/powell20200519a.htm
https://www.cbsnews.com/news/coronavirus-economy-jerome-powell-federal-reserve-chairman-60-minutes/
"We are committed to using our full range of tools to support the economy in this challenging time even as we recognize that these actions are only a part of a broader public-sector response, Powell said adding that "we expect to maintain interest rates at this level until we are confident that the economy has weathered recent events and is on track to achieve our maximum-employment and price-stability goals."
https://www.federalreserve.gov/newsevents/testimony/powell20200519a.htm
re bought ?
you mean you booked massive losses and are now trying to get your money back ?
you mean you booked massive losses and are now trying to get your money back ?