Boiler Room: The Official Stock Market Discussion

[Ohene]

Had to get them SPY Puts at the market open for next Friday (today expiry is too much risk ). Such an Obvious headfake. If it crosses 160 though...I take the L. Resistance so far seems to be 159.6 and 159.1. Keeps bouncing between that but if it breaks 159

It was between that and shorterm Facebook Puts after another upgrade . Both appear to be winners. This is when having your money tied up bites you in the ass. Might have to buy ABX calls before the Market closes too. So many choices


As far as BBRY....14 is holding over the last three days (fist pump)

edit; Bounced right off 159 This shyt is imminent.

 

[MikelArteta]

Nudie aka Sachs fifth avenue
I want to start playing the stock market without my Jewish broker

Where do I start?

Sent from royalty using Tapatalk 4 beta

 

[Ohene]

we broke 159. Timberrrrrrrrrr

 

[Ohene]

Nudie aka Sachs fifth avenue
I want to start playing the stock market without my Jewish broker

Where do I start?

Sent from royalty using Tapatalk 4 beta

What do you know about Accounting (particularly financial statements) and Finance? I'll do my best to teach you some things to help work go by fast and to brush up on my knowledge.

My internship is almost done so its either gonna be recruiting seasons this september or january if i transfer. Havent been in school in a minute

 

[Ohene]

158.27. Man this is beautiful

 

[Domingo Halliburton]

how are you playing this? Any high volume Chinese ETFs to get options on?

I don't know breh. I think I'd stay away from china for the foreseeable future. I don't really know many china etfs.

china is basically trying to pop the bubble before it becomes massive. unless you want to go short chinese construction and/or banks I would stay away from china.

 

[Ohene]

I don't know breh. I think I'd stay away from china for the foreseeable future. I don't really know many china etfs.

china is basically trying to pop the bubble before it becomes massive. unless you want to go short chinese construction and/or banks I would stay away from china.

gonan look into it first but thats the plan. See if i can get puts some how relative to china.

The SPY is tanking gain. I may have a 75% return today by the time I sell.

 

[Ohene]

Lululemon still getting rocked. Not buying them calls till i see some momentum / stability.

 

[Domingo Halliburton]

gonan look into it first but thats the plan. See if i can get puts some how relative to china.

The SPY is tanking gain. I may have a 75% return today by the time I sell.

China is weird they only allow like 5% of the outstanding shares to be sold to foreign investors. I see the s&p reversed directions, are your calls still looking good?

 

[Ohene]

China is weird they only allow like 5% of the outstanding shares to be sold to foreign investors. I see the s&p reversed directions, are your calls still looking good?

I had 3 puts contracts on the S&P. I sold them at 2.7 for a 35% gain even though I knew it would continue going down. They did continue to the point where i woulda had a 65% gain at 3.3 if I held on. I got greedy and bought 2 back at 3.19. It went up a bit...and then down...then back up etc etc...and I sold the 2nd batch at 2.46 for a loss . But overall I still came out positive so I dont mind. Just happy I didnt hold on.

I have a specific rule in my notepad based on past lessons that says DO NOT RE-ENTER AFTER SELLING ANYTHING in the same day. I always break my own rules though. I need more discipline.

cant call how the rest of the afternoon will be for the SPY s I'm staying out. FB however.

edit: ABX calls instead. Looks like a trend reversal ensuing (rounded bottom). I could be talking shyt though.

 

[Domingo Halliburton]

I had 3 puts contracts on the S&P. I sold them at 2.7 for a 35% gain even though I knew it would continue going down. They did continue to the point where i woulda had a 65% gain at 3.3 if I held on. I got greedy and bought 2 back at 3.19. It went up a bit...and then down...then back up etc etc...and I sold the 2nd batch at 2.46 for a loss . But overall I still came out positive so I dont mind. Just happy I didnt hold on.

I have a specific rule in my notepad based on past lessons that says DO NOT RE-ENTER AFTER SELLING ANYTHING in the same day. I always break my own rules though. I need more discipline.

cant call how the rest of the afternoon will be for the SPY s I'm staying out. FB however.

edit: ABX calls instead. Looks like a trend reversal ensuing (rounded bottom). I could be talking shyt though.

I don't know anything about abx but you sure you want to jump in with gold prices like they are?

 

[Dr Dre's ProductionSkills]

so you're just buying straddles, right? can i ask what site you use?

nadex.com


its north american exchange.... but its really simple... trust me im dumb with options and i dont get it.. and with the exchanges its simple.. your basically betting on yes or no on strikes


trust me the reason i like this is cause its easy to understand and not too hight risk...

on nadex.com you can open an dummy/fake account and it lasts for about a couple of weeks.. big moves that you aniticpate in markets, currencies(this is the one thats really easy aka usd/eur) commodites....you can make small coin but it adds up...

remember with binaries... for every contract ... at the expiration date your either saying it will or it wont happen ex... there is a contract with an expiration date of today at 4:00 est that s and p 1600... you can either buy that contract ( means your saying that at 4 the s p will be ovver 1600) or you can sell that contract ( your saying s p will be less than 1600)

now of course with my example there are premiums... so right now the s p with at 2pm is at 1585.. so the buy 1600 you could prob buy at like 4 or 5 dollars and the sell contract is prob selling for llike 85 bucks... so sell that contract you an only make about 15 bucks... but if you buy the contract you could in theory make 95 bucks if it settles true...

cause all these contracts settle at true or false what you are buying AT 100 BUCKS...

now you buy multiple contracts you can of course make more money... so if i buy 20 of those 5 dollar buy (>1600) contracts and it settles true your look at 95 x 20...

for me as a newbe it teaches me about option tradin g and the risk is low... every contract you buy or sell the commission is .90 cents...

there is no roll over monthly problem like stock option trading... depending on what date of exp you pick the option settles... thats my fav part of this cause it lessens the work and risk... not to say stock option trading isnt good.. its just that part of beign on the hook for the stock has always made me nervousl..

i started out with 200 bucks in my account and now am about 450...small money i know but look at the move % wise in the short time...

if you go too crazy you will lose your money... but discipline is the key... look at the euro move after the fed meeting... these big moves pay out.

alll contracts settle true or false so just as easy you get paid 100 for a correct call if you wrong you thing settles at zero... all or nothing.. but as i said .. if you buy some contract at 4 or 5 bucks and it moves to like 50 bucks on a big move you get out and you dont wait for it to settle.. you can sell out beofre....

sometimes youll get that 4 or 5 bucks to 50 bucks move an then youll get the move back to like 15 bucks (cause of fluctuations in what index you are in) and if your contract settles false then you lose the 4 or 5 bucks... but in reality you lose that 45 dollar move you shouldve sold out of...

check it with the free demo account... like i said best part about it low controlled risk

i jus saw a television ad on cnbc for it and thats pretty much what they are saying...low contolled risk..

 

[Dr Dre's ProductionSkills]

Breh, can you really make money off this strategy? I'm relatively new to options (about a year)... but this strategy is...

nadex.com

its binary trading... its alittle different than stock option trading... cause ppl that stock option trade the index are just trading spy or index related stocks...

on the nadex your just trading the indexes .. no stocks

check out the website .. they have a demo account for free..

im not selinng or work for this website... im just suprised at how DEFINED AND EASY TO MANAGE THE RISK this type of trading is...

im totally new to options trading and have always look sour aobut it cause i alwasy hear about rolling over postiions to other monhts and options your basically having to buy or commit to buying the stock so in some cases you need to be on margin...

this is cheap and simple...

 

[Ohene]

I don't know anything about abx but you sure you want to jump in with gold prices like they are?

Yep. Low risk, high reward for the most part. Strike is 16. I bought them with time value only being 60% of the price. (1.22 when the underlying was trading at around 16.55)

Today the hit a new 52 week low at 16.11 with Gold being up today. (1.22% according to the SPDR etf). Trading at 16.7 now which is alot more like it. Seems like these miners are being traded off emotion but I got a month leeway. Overall...the company's down about 15% this week. I think they're due for a good 5-10% pop soon and if they do these options could double up very easily. If they hit 19-20 again...triple up. Wish me luck


edit: Looks like the SPY bounced off that 158.3 resistance (i edited it out of the previous post). Intraday reverse head/shoulders pattern. Its amazing when you see patterns forming and they actually end up occuring.

 

[Ohene]

If I were to bet I say the SP500 rallies at EOD. Havent lookd at the nasdaq much today though


if it passes 159.20...i sense a sharp increase.