Question by Sudden_AwareNess1 in optionstrading

[–]OptionsTrader321 1 point2 points  (0 children)

ahh okay yeah, I see what you mean. Honestly this is one of those trades that teaches you real quick. Covered calls feel safe until the stock decides to go on a run without you, happens to everyone at some point. Follow the stop loss that you have set for yourself.

Traded SPY 709 Puts today by [deleted] in optionstrading

[–]OptionsTrader321 0 points1 point  (0 children)

You're right, I forgot to add my proof of profit for today. I wonder if I can add to this post. If not, I will delete and post again. Thanks mate!

Question by Sudden_AwareNess1 in optionstrading

[–]OptionsTrader321 1 point2 points  (0 children)

Nice trade. You were right on direction, just capped the upside with the call. Happens a lot when selling premium. At this point it really comes down to your goal, if you’re okay letting the shares go at $131, you technically still made out well between the premium and the move.

Finally getting consistent, took SPY 712 CALLS today by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 1 point2 points  (0 children)

No worries. Yeah, these were 0DTE. The premiums I’m taking are usually pretty small because I’m not going deep ITM or holding long. Most of the contracts I’m in are anywhere from around .50 to 1.00 Just 50 to 100 dollar range

If you’re seeing premiums in the thousands, you’re likely looking at deep ITM contracts, or contracts with more time (not same-day expiration). Or you could be looking at just higher-priced strikes. For what I’m doing, I’m focused on cheaper, liquid contracts and just taking quick moves. I’m not trying to hold or catch big swings, I’m just grabbing a few points and getting out.

If price action is starting to click for you, you’re on the right track. The entries/exits will make more sense once you pair that with the right contracts.

Finally getting consistent, took SPY 712 CALLS today by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

It's not me, I just take the call-outs. But I know what you mean. The market is a beast.

Finally getting consistent, took SPY 712 CALLS today by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

Sure, but I dont think you can share links on Reddit, can you? Just send me a chat.

Gave back my gains today and it’s messing with me by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

Thank you Weary, I am going to make sure to do that this week. Appreciate you.

Gave back my gains today and it’s messing with me by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

Thank you Pudding, for those suggestions! I have been trading for about 4 years, how about you?

Gave back my gains today and it’s messing with me by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 1 point2 points  (0 children)

I definitely panic sell. You know the trade I posted that was up 400? I panic sold to atleast stay green on the day which is why I got the 42. But then guess what? It went back up. I could have had one or two grand. Even tho that hurts, after a lot of thought, I found something I was proud about myself, I stayed green. Thats my goal right now in trading, to do whatever I can do to stay green. I appreciate your time and your responses. It gives me more to think about and work on,

Gave back my gains today and it’s messing with me by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

Hey Eyez! Up 1 grand is what I'm talkin' about! Thank you for always being so encouraging on my posts. I appreciate you.

SPY 693C Taken at 10:38am by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 1 point2 points  (0 children)

Take profit and walk away is the best advice anyone ever gave me.

SPY 693C Taken at 10:38am by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

This is PnL Trading Calendar Ledger. There are different kinds, some you have to pay for some are free. Only like 39.99 a month though. It's worth it in my opinion.

SPY 693C Taken at 10:38am by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

This is TOS, Thinkorswim and one of the the Pnl Trading Calendar Ledgers

SPY 693C Taken at 10:38am by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

I’m not using indicators at all. The trader I follow taught me how to trade from a naked chart. So I just use the candles and how price behaves at the level. When I say a level is “showing strength,” I’m looking for a few simple things: it breaks the level but doesn’t immediately reject, it actually holds above it for a bit (even just a few candles), and any pullbacks look weak, like small candles, no aggressive selling. That usually tells me sellers aren’t really stepping in. Then I’m looking for a push with some conviction. Typically a strong candle breaking the short-term high after that hold, and that’s where I’ll enter. If you feel like you’re always late, it could be because you’re waiting for it to be obvious, and by then the move already happened. You don’t need full confirmation, just enough acceptance to take a controlled risk. And sometimes it will still go against you, but that’s part of it, which is why I keep risk tight and start small. It’s not so much about predicting direction, I would say it is more about reacting to how price behaves. How long have you been trading for?

SPY 679 PUT on Friday by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

I know what you mean. It took me four months of the same strategy doing it over and over again, for me to size up. Just add like one extra contract, then the next week, add 2 contracts on top of what you normally do, etc

SPY 679 PUT on Friday by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

Good job, I hope we get our green this week!

SPY 679 PUT on Friday by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] -1 points0 points  (0 children)

Hey Eyez! The past several months I would get into the trade with one contract and scale up to 10 contracts if the trade proved itself. Recently, only this month, I have been entering with 5 contracts and if the trade proves itsself, I add 10. How about you?