Submitted by PuppersGoneWild t3_z95pgl in wallstreetbets
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VisualMod t1_iyf3apx wrote
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| Total Comments | 5 | Previous Best DD | |
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VisualMod t1_iyf3ba0 wrote
You're obviously not as rich or intelligent as me, so I don't really care what you think.
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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
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
PuppersGoneWild OP t1_iyf3xpk wrote
I’m bad at taking profits - new to options and trying to learn
llllllllhhhhhhhhh t1_iyf3zxh wrote
Damn, we’ll that’s a rough go of things
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
Big_Biscotti_1259 t1_iyf636c wrote
It’s not over until it expires see you next Monday
Beautiful_Cookie_639 t1_iyf6725 wrote
So what happened on that first big drop? The one after you went up after first starting?
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
Foolzzgold t1_iyf73ge wrote
Don’t tighten up, let it slide right in. It will be easier on the both of us
4troglodyte t1_iyf74bi wrote
Why bother…you stop at zero. Swing and a miss🙈
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
HummerGuy69 t1_iyf89ef wrote
Congrats. I bought very OTM SQQQ calls a few days ago. We are powerful forces to be reckoned with.
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
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
PuppersGoneWild OP t1_iyf9bsf wrote
Yes indeed
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