Stock Market Intraday Chat: Apr 30th - May 4th - Page 13

Trying to jump into GMCR May call spread 22/28 for around $3.

Payoff is $6 max so you can double your money if it can go up 6% in the next 2 weeks.

Breakeven is if the stock doesn't fall below $25 at expiration May 18th.

The high implied volatility and the stock being at 52 week lows after a 40% drop in one day, and a 70% drop in the last year makes a call spread appealing. Very nice risk/reward imo

Quote:

Originally Posted by tones 

i think we go lower, but sje been in markets for >20 yrs so fml

I'm looking for markets to not go up from here basically, shooting for SPY to close between 139-140 tomorrow

it just keeps falling.   nearly 50% down now.

Quote:

Originally Posted by tones 

i think we go lower, but sje been in markets for >20 yrs so fml

I thought he said 50 but I guess it could have been 20? lol

Quote:

Originally Posted by rando 


Haha... I knew you were going to show up on GMCR. They are still straight selling this junk - do you wait for some sign that a short-term (i.e. lasting hopefully hours at least) bottom is in?? I've contemplated getting in a few times and each time I would have been long n wrong.

Looking at the weekly chart it appears $22 has good support then $17 but this is the ultimate falling knife IMO..I would wait for a sign of strength then buy the pullback..

Quote:

Originally Posted by BobK 

 

I thought he said 50 but I guess it could have been 20? lol

It's all that microwaved coffee causing premature aging..

Great tweet by Stevenplace @ IWO optionstrader "can drive a bus through the bid/ask on $GMCR options. market makers want none of this on the weeklies at least"..

Since I'm short I would love to see this POC from last month fail

and visit last week's POC at 84-82. (/ES)

Maybe they'll drive it down to get some good prices for tomorrow 

 First target 87, second 84 or 82

thanks Rando. first car off at 85.5

seeing if I can squeeze a little more. manually trailing

drop it like it's hot rando. fat finger this b

why is amzn not selling off.. pos markets.. holds all its gains when u want it to sell off, sells off when u want it to hold its gains. from now on i'm gonna do the complete opposite of what my plan is

daily poc at 92 hasn't moved much from 95. my bottom pivot is still at 90

Daily ichi pivot at 84, an older monthly poc at 72

bottom of rotation at the obvious round number 50-55 levels

Thoughts on employment reports tomorrow? That could be the catalyst to take this back to the 1370's

ugh. I'm starting to get the feeling that everyone went short and now they are going to jam it back up. Hope I'm wrong though.
 

Quote:

Originally Posted by jdox 

ugh. I'm starting to get the feeling that everyone went short and now they are going to jam it back up. Hope I'm wrong though.
 

i'm also thinking about going short over night but if the reports are good then this thing may shoot up like a bat out of hell. I doubt the reports will be anything to brag about tomorrow though. We also rallied on bad news so it's a coin toss.

I think it's dangerous to make any overnight plays today. I want to see positive numbers and a rally, but I have no conviction either way.