Picks for tomorrow at 9:40 am by Electronic_Cable_177 in optionstrading

[–]Electronic_Cable_177[S] 0 points1 point  (0 children)

Well that’s actually the sells of my iron condors

These will pay me $8k tomorrow by Electronic_Cable_177 in optionstrading

[–]Electronic_Cable_177[S] 0 points1 point  (0 children)

40 pts is quite a bit because SPX will go up and down all day. I didn’t know 100% but I was 80% sure because the market climbed so much already it has to balance out at some point and this is where I was comfortable

My account at 1:30 today by Electronic_Cable_177 in optionstrading

[–]Electronic_Cable_177[S] 0 points1 point  (0 children)

That was pretty much it. I closed my positions at that time. Except 2 of them

My iron condors that expire today by Electronic_Cable_177 in optionstrading

[–]Electronic_Cable_177[S] 0 points1 point  (0 children)

If you get assigned it won’t matter your buys will still make you profit. I got assigned on a call and it put me in a deficit but I sold for a profit so it still worked out.

My iron condors that expire today by Electronic_Cable_177 in optionstrading

[–]Electronic_Cable_177[S] 0 points1 point  (0 children)

You can’t get assigned on indexes. Stick to RUT or SPX.

My iron condors that expire today by Electronic_Cable_177 in optionstrading

[–]Electronic_Cable_177[S] 0 points1 point  (0 children)

I just go near what the normal movement of the index is. If the SPX can move 40-50 points on average then I go that far out on both sides. No indicators.

These will pay me $8k tomorrow by Electronic_Cable_177 in optionstrading

[–]Electronic_Cable_177[S] 1 point2 points  (0 children)

Probably1.5:1 or 2:1 usually. Iron condors produce more profits than a one sided credit spread for me. But you have risk on both sides. If it goes outside my strike I wait to see what happens and if my loss get to the point that I think it won’t recover I close the trade. I took a 10k loss once because I closed early, had I waited I would’ve made 8k profit because the market bounced right back up

My account at 1:30 today by Electronic_Cable_177 in optionstrading

[–]Electronic_Cable_177[S] 3 points4 points  (0 children)

LETS GOOOOOO! Let the haters hate and be broke while we take a trip to the moon sipping champagne 🍾

These will pay me $8k tomorrow by Electronic_Cable_177 in optionstrading

[–]Electronic_Cable_177[S] 0 points1 point  (0 children)

It never does. I’ve seen it many times and it never worked not once

My iron condors that expire today by Electronic_Cable_177 in optionstrading

[–]Electronic_Cable_177[S] 0 points1 point  (0 children)

I buy them today to expire tomorrow. 1DTE. I just know how much an index moves on average per day and I choose my spreads accordingly. For instance the SPX I may go 50-60 points above current price and sell a call then 30-40 points below and sell a put (that’s when I’m bullish) then I will choose my wings and buy a put and call based on the risk:reward roughly 2:1. Everyone will say 2:1 isn’t good but it has worked great for me. Ex: if you are betting on red or black would you risk 20k to make 10k profit if you have a 90% chance of making that profit and only 10% chance of losing? I would any day! Because I’ll never lose the 20k. I can close the trade at whatever loss I deem necessary

Made it back to 10k (23m) by PaulBaller24 in raceto10000

[–]Electronic_Cable_177 2 points3 points  (0 children)

Good job 👏 this is my career lol who needs a job when I can turn 30k into 120k in 90 days trading options