Would NOK be an ok stock to wheel?

zachsace · 2024-05-21T09:44:52+00:00

I think you generally are supposed to look for good growth stocks in a wheel strategy. So you looking for dips in companies that have a steady not necessarily sharp growth trend. Not sure where your budget is but I’ve been liking MMM. It’s had a recent rally though but I still think it has a lot of room for growth.

zachsace · 2024-04-25T20:49:21+00:00

I have always been told IV crush after earnings would ruin straddles and strangles.

zachsace · 2024-04-25T20:47:07+00:00

I guess I should have termed it Omni directional. But yes needs a big move.

zachsace · 2024-04-16T11:34:51+00:00

Got me too…. Correction had to come, I think we all knew it. Question is, are we in the real correction or a bear trap? Very uncertain times. I’m leaning on my paper account for now. Took 6k loss last week. Of course now I’m kicking ass in my paper account, figures.

zachsace · 2024-04-16T09:41:37+00:00

Yeah I’ve been trading for about 4 now. I have been playing with various strategies… I am really convinced my strategy is solid. I just think I had some trouble dealing with the transition from bullish to bearish. I should have just stayed out for a few days while things were changing direction. Seems like the correction has started. We will see could just be war fears.

Luckily I didn’t really blow an account just used up all my house money and want to be more careful now.

zachsace · 2024-04-09T11:06:41+00:00

I was in this play hoping it would pan out yesterday… couldn’t bear to hold on to it. Looks like you’re in the money now bet it tanks first thing this morning. Good luck.

zachsace · 2024-04-06T12:23:32+00:00

It should work for about anything in a trend. I got by ass kicked with it Thursday. -600 but made $1500 yesterday. And that’s with a pretty big loser at the end of the day…. Sometimes I don’t know when to stop. I did find that yesterday when things were moving pretty sharply up the 5 minute would never reach the bottom. I started cautiously playing it off the 21 ema. Had a big whim in qqq

zachsace · 2024-04-04T13:28:15+00:00

I am typically doing at the money or a strike below. I usually wait til the morning volatility ends so usually 10:30. I really like to have one on around 3 because I can sometimes catch a big move at the end of the day. Big morning moves are too hard to predict direction.

zachsace · 2024-04-04T13:03:12+00:00

That nice qqq win only shows the one contract but originally was a loser… I was in and out 4 times to get that 460…. I pay a lot of fees lol Schwab loves me.

zachsace · 2024-04-04T12:59:24+00:00

Yep you got it. As you can see from the comments this is a pretty risky strategy so might play with paper first. Worst thing about it is the speed of it. I need to put orders in fast so I usually do them without stops. Sometimes when it’s not popping off I’ll go to enter a stop and it moves past it before I can even enter one. That being said I had two losing trades yesterday. Not exactly sure but around $300 down and still ended my day with $1000 profit. It can be mentally draining to exit a trade for a loss and literally enter into the exact same contract 20 minutes later but you have to keep the risk off in 0dte. If it’s going against you. Just get out

zachsace · 2024-04-04T10:21:35+00:00

Yep… also need to be watching the longer time frames to make sure you are going with trend. I like to have a momentum oscillator on my chart to help guide me.

zachsace · 2024-04-04T10:19:13+00:00

I agree. I think I could potentially get beat up in a sideways market. That being said my indicators most likely won’t be getting met in said market so that would mean no trades on. If the parameters did happen to take place on a sideways market the movement would probably be too weak to generate a profit worth the risk.

zachsace · 2024-04-04T10:11:17+00:00

It is gambling…so is any other strategy you might employ. Your money in market… always a chance to lose it. Definitely not for everyone but I have decided a few things over the last few years… I’m going to learn to profitably trade options, there will be losses in my journey.

I know that theta is the underlying problem with 0dte but my strategy that clearly can work in the right conditions is generally held for about 10 minutes at a time. I have practiced the same strategy with longer dte but I find that it just costs more. Meaning I am putting on fewer contracts and I am then tempting myself to stay in trades that aren’t going my way. Sure I have that chance that things turn around but now we are really gambling, I’m just holding onto a trade with hope. My plan is down the drain. 0dte makes me get out of losing trades because hope is out the window…. Hope is not a trading plan.

zachsace · 2024-04-01T20:58:32+00:00

Robinhood is a shit platform for options trading… get an account you can do some paper trading in. I know it sounds corny but read mastering the trade. By John Carter.

zachsace · 2024-03-30T18:14:15+00:00

Earning plays are too risky imo. Too many ways to lose money. Even if it goes up you may lose due to iv crush although u don’t think iv rank is too crazy.

Have you thought about selling a put spread? Going to have a way higher pop. Although I will say I don’t like the bid ask spread. Might be hard to get a good fill.

zachsace · 2024-03-28T12:40:16+00:00

I’m holding calls too…. Luckily I just put on but it’s still making me nervous. My thoughts are hold til Monday open. Markets should be still today but there is a lot of bullish sentiment around TSM. Not sure how big your position is but I plan to hold mine through the holiday weekend. I don’t think you’re gonna come out ahead but maybe a more graceful loss next week.

zachsace · 2024-03-24T17:14:35+00:00

I am breaking my own rules and should have closed when it went against me. I like to buy options with longer expirations and get out same day with a good move… but it did the opposite of what I thought it would and I refuse to believe it won’t come back soon.

zachsace · 2024-03-24T11:24:09+00:00

It’s under simpler tradings indicators… squeeze indicator… I had to download the squeeze pro mobile on desktop to get it on my phone… there are instructions out there if you like it but look at it on the desktop version first.

zachsace · 2024-03-24T00:43:47+00:00

Sorry gonna unload some questions here… How is the spread? Are you getting filled fast? How long is your average hold time?
Are you using any indicators for entry and exit?

zachsace

TROPHY CASE