Stock Market Today - Intraday discussion - Page 5231  

Silver swing highs and fibs have been absolutely amazing ever since mid to late May. 39.50 was a hard cap for SI yesterday, after it spent a few days tangling with the 37.90 fib for much of the prior several days.

IMO 1302.25 test should come very soon, will be watching for volume buyers on the ES tape.

deep ITM options dont decay if they are really deep .. or do they?  i mean a move in your favor in AH offsets it. -  looking at tomorrow.

I think all options have time value assigned....or are you referring to leaps, which have the most time value?

 

 

no, options.. just wondering since its usually offset, as its within the field.. sorta speak.
 

 

DJI down by .3%, S&P .5%, NASDAQ -1.3%

 

wow usually they're pretty close. Everyone knows nasdaq was crazy short squeezed to valuations unseen since the tech bubble.

@mjoke

 

i would think they do, its just a smaller percentage of the option price compared to out of the money options. check the thetas 

i do but it doesnt apply if its moving the direction you want.. its more a question thats not answerable.

 

The further ITM, the less IV and the more EV to an option.  So yes, the decay would be lower on a very deep ITM option because it's a reduction of a sliver of IV.

 

 

@mjoke

 

oh, well what i do is just buy spreads, and make sure the thetas are close to offsetting each other as is practical. but then i guess you end up paying for it with double the commission and a worse bid/ask spread.  but on the bright side the gammas kind of offset also so that you are dealing with more predictable gains/losses

leaps are just longer term options ( 6 months or longer till exp )

 

 

deep ITM can sometimes have less appreciation especially on lower volume . whenever i go deep i look  for a modest spread

Nice big buy blocks flying through on ES right off the bottom.

Day traders' dream today! 

Come on sell off already and break those important moving averages...... These bulls aka the government is trying every little trick in its book to make this looks good. Spiking the start of the market to get a good candle stick and now fighting off but it is a overbought market in all sectors. 

Wow, easy button was pressed there. Made 24% and 44% on AAPL 360 weekly calls off the bottom, in 4 and 5 minutes respectively. Serious buying coming through ES tape... at some point we retrace a bit of this, IMO that would be a good buying opp. Algos easier than normal to cipher today.

that was a wierd flush..ah it was currency..

50% fib on the "magic rally" from1250s to 1350s was 1303.38 on ES. LOD was 1302, which is one tick under the overnight low. These levels are so well defended right now. Looks like the stakes went up even more, if/when the 1300 level breaks, I'm no longer looking for low 1290s, more like 1260s at least. Not saying we go down from here. If we do, it seems like ES is dying to take at least one more crack at 1320 if not 1340.

yep 1260.. still holding onto my targets.. no reason to change, also depending on what happens here with the debates could get fugly..

We have picked a direction.. unless there are alot of exercising positions tomorrow since of exp.. but i doubt it other than the puts.

Nice bounce off of 820. If you used 822, that's a 2 point draw down.

38.2% fib at 825.5 for the first test/target.

 

1:1.5 rr - okay, not that great and that's why I'm just watching right now.

I already had my fun.