"-looking at BB125(resis) on daily, lots of resis on 2-hr both bands are overlapped. Had a buy signal on Friday, now starting to look like zig instead of a zag."
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BB's held on 2-hr...2630 should hold or we see 2550 quickly
When the market tanked in 2007, I told everyone here that this an opportunity of our life time. Maybe we see an opportunity like this again...who knows.
TSLA($301.15)....shorted it yesterday(not a Tesla fan), still burning cash. Haven't made their numbers for the last 3 quarters....way, way too expensive.
BB's held on 2-hr...2630 should hold or we see 2550 quickly
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2630 being retested after the gap down, bulls need to step in here or look below. Historical returns in May not good...glty
You want to be short volatility when volatility is high for that underlying component. Right now the IV of the SPY is not high enough for me, but it won't prevent me from selling calls on rallys. Yes it is somewhat counter intuitive because when SPY rallys IV goes down.
There is plenty of volatility in the market for options sellers. Just not the SPY right now.
Its easy to be long gamma and short theta. And its easy to lose money that way. :) If you want to do this do spreads and or calendars, IMHO. My opinion is this works well for day traders who won't have to worry about theta, but that doesn't fit my style of trading.
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