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llllllllhhhhhhhhh t1_iyf3ro7 wrote

Ur a spy puts guy and that line is horizontal? You should be up at least 100% ytd and that’s being very conservative

20

PuppersGoneWild OP t1_iyf3xpk wrote

I’m bad at taking profits - new to options and trying to learn

5

llllllllhhhhhhhhh t1_iyf4880 wrote

I would suggest not doing this anymore until you get a hang of things unless losing 5k is like 1% of ur net worth

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Big_Biscotti_1259 t1_iyf636c wrote

It’s not over until it expires img see you next Mondayimg

12

Foolzzgold t1_iyf73ge wrote

Don’t tighten up, let it slide right in. It will be easier on the both of us

5

DeadSol t1_iyf3xea wrote

Expertly timed.

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4troglodyte t1_iyf74bi wrote

Why bother…you stop at zero. Swing and a miss🙈

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Beautiful_Cookie_639 t1_iyf6725 wrote

So what happened on that first big drop? The one after you went up after first starting?

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PuppersGoneWild OP t1_iyf6sji wrote

I set up a short dated put and the market moved down but not enough, I waited and the put expired worthless. Next two puts I set up correctly and they hit for about 200% but I didn’t take profits on them because I was greedy. Then puts I setup after got eaten by this rally. I stayed away from the market recently but setup new puts yesterday and then of course SPY spiked today

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Beautiful_Cookie_639 t1_iyf82ok wrote

What do you look for when setting up puts? I typically do 2 or 3 DTE and use RSI (7) value

0

PuppersGoneWild OP t1_iyf8zye wrote

I am very new to this but I’ll tell you my current doctrine - I don’t believe in Fibonacci and I believe most of technical analysis is bullshit - I mainly try to pick psych resistance levels and watch macro economic events - I sometimes look at RSI for divergence. At first I was setting up puts with short exploration dates but know I feel more comfortable with 1 or 2 month dated options. Also I don’t setup puts when the PCR ratio is spiking. Any suggestions appreciated

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1

PuppersGoneWild OP t1_iyf3sib wrote

First options win was 0dte trade on SPY following FOMC meeting in September. Then I made more put options but failed to take profits when I was winning. I set up more put options yesterday but today got fucked

1

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1

HummerGuy69 t1_iyf89ef wrote

Congrats. I bought very OTM SQQQ calls a few days ago. We are powerful forces to be reckoned with.

1

Warden4Lyfe t1_iyf95o3 wrote

Losing 80% on puts during a recession is so amazingly stupid

Its not like you did one bad trade this is many bad puts

0