Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,099
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Post by Dave on Sept 3, 2020 2:20:11 GMT -8
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,099
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Post by Dave on Sept 3, 2020 2:30:27 GMT -8
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,099
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Post by Dave on Sept 3, 2020 2:44:17 GMT -8
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chinacat
Moderator
AAPL Long since 2006
Posts: 4,426
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Post by chinacat on Sept 3, 2020 5:14:47 GMT -8
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Post by playultimate on Sept 3, 2020 5:39:52 GMT -8
Suddenly, my iPad Air seems a little old 😉. Pre-market looking ugly... I suddenly feel as if I overpaid for my iPP; albeit I do have the 12.9" And AAPL down $3+ as I write. Does appear to be recovering though.
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4aapl
Moderator
Posts: 3,631
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Post by 4aapl on Sept 3, 2020 6:16:44 GMT -8
I was kind of hoping one of you would say I am just being paranoid, and this was just a bump in the long road up. 📈 The stock goes up, the stock goes down. Yes, with this volume but lack of real news while people are hyped up, that is the time the big boys can really push things around. At least it seems that way. From the 1000 foot view, this is just noise and AAPL mostly goes up. From the 30,000 foot view, AAPL only goes up. From the 30,000 mile view, what is AAPL? It's all perspective. I put in a few orders last night. For some reason I was off by a day, thinking today was going to be Friday, and a dip wouldn't likely quite stretch to yesterday's dip. So my first chunk was at $127.61, which was filled less than a minute before the market opened. I thought about changing it lower last night, but with the "get your plans together just in case a vaccine is ready early" news, I thought the downside would be more limited. The other half in the ROTH is much lower, with the trade-off of finite funds so having to put a low price if I want the same total number of shares. It likely won't hit, but if AAPL sees $121.6 again I'll re-own the other half of the ROTH shares. In the taxable account I won't go to much trouble to rebuy, since (rhyming) we want to diversify. But, the funds are there if the stock gets low, and I might just write a few puts. Disassociate yourself from the stock for the day, and look at the power the market can have. See "the power of the dark side". A condensed chunk of trades going lower can quickly knock the stock down a few rungs, and that affects the psychology, the algos, and the day traders. "It's all just a game. It's all just a game". Not Gordon Gecko, but Michael Douglas just the same. (EDIT: lots of things in life are a gamble, some more than others. For those looking to make a little trade on some action like this, the weekly 130 puts are up 100% overnight, and the 128.75's up 200% overnight. While I'm not suggesting it, it is nice to see what profits from this, in addition to the short side of all those calls out there. $125 doesn't have to be the final destination at the close tomorrow, but knocking it down that way for a bit lets a bunch of those get bought back, or shares bought to cover them)
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,099
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Post by Dave on Sept 3, 2020 6:31:34 GMT -8
Thanks 4appl for the poetry in the morning. I like it.
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,099
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Post by Dave on Sept 3, 2020 6:40:52 GMT -8
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,099
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Post by Dave on Sept 3, 2020 6:45:09 GMT -8
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4aapl
Moderator
Posts: 3,631
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Post by 4aapl on Sept 3, 2020 7:28:04 GMT -8
The other half in the ROTH is much lower, with the trade-off of finite funds so having to put a low price if I want the same total number of shares. It likely won't hit, but if AAPL sees $121.6 again I'll re-own the other half of the ROTH shares. Wow! This is like watching a raging river, on the brink of going over the banks. There's just so much power! Looks like my order is a little lower, at $120.61. AAPL just missed that, getting to $120.72. With the moves today, it's hard to know if that will hit. The power can only last so long if only run by a few, but at $122 any options can be bought back or covered. Amazing!
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JDSoCal
Member
Aspiring oligarch
Posts: 4,182
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Post by JDSoCal on Sept 3, 2020 7:33:19 GMT -8
I tried to buy that dip to 120.xx but my fat fingers were too slow. MM's want to wipe those 125 and 127 calls.
Weekly call buying lemmings taking us all out with their cliff jumps. At least do spreads and don't ride them to expiry.
Glad I took profits yesterday! Last STC order filled with like 75 seconds before close (because my trading software has a default of 10 contracts and I had 50, so my fat fingers were scrambling at the end!).
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chinacat
Moderator
AAPL Long since 2006
Posts: 4,426
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Post by chinacat on Sept 3, 2020 7:47:55 GMT -8
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Post by socal Film Composer on Sept 3, 2020 8:40:36 GMT -8
Well going up much more fun, but this is healthy for the shares - need to shake out some froth and consolidate these incredible gains IMO. will be interesting to see how it plays out for a few weeks - same with TSLA post split.
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JDSoCal
Member
Aspiring oligarch
Posts: 4,182
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Post by JDSoCal on Sept 3, 2020 9:33:30 GMT -8
OK, I know we haven't talked pain much lately, and yes the markets in general are down today. But the ideal pain range based on call and put open interest would be 121.26-122.49.
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chinacat
Moderator
AAPL Long since 2006
Posts: 4,426
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Post by chinacat on Sept 3, 2020 10:44:39 GMT -8
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Post by CdnPhoto on Sept 3, 2020 11:20:50 GMT -8
OK, I know we haven't talked pain much lately, and yes the markets in general are down today. But the ideal pain range based on call and put open interest would be 121.26-122.49. I'm seeing 151K Puts at $125 and slightly more Calls at the same strike.
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Post by nwjade on Sept 3, 2020 11:34:09 GMT -8
For one day's action, this feels way over done. (Not just talkin aapl)
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Post by moltenfire on Sept 3, 2020 11:35:20 GMT -8
Today's market action felt like the heady days of March 2020, when COVID fear was high. DOW down 1000 points and S&P not much better.
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JDSoCal
Member
Aspiring oligarch
Posts: 4,182
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Post by JDSoCal on Sept 3, 2020 11:42:05 GMT -8
OK, I know we haven't talked pain much lately, and yes the markets in general are down today. But the ideal pain range based on call and put open interest would be 121.26-122.49. I'm seeing 151K Puts at $125 and slightly more Calls at the same strike. Numbers are moving fast, but range right now is 122.5-123.75. Yah a ~20K difference at 125.
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Post by zebrum on Sept 3, 2020 12:05:52 GMT -8
Well played Wall St, most negative articles in one day I've seen for a while.
Weak towards close, the number lining up to buy on Friday must be astronomical!
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Post by archibaldtuttle on Sept 3, 2020 12:11:54 GMT -8
-8% in a day is nothing to sneeze at. Don't have those type of days very often.
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Post by Lstream on Sept 3, 2020 12:14:00 GMT -8
-8% in a day is nothing to sneeze at. Don't have those type of days very often. If we can’t sneeze, can we heave? Or choke?
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chinacat
Moderator
AAPL Long since 2006
Posts: 4,426
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Post by chinacat on Sept 3, 2020 14:28:48 GMT -8
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Post by therealmercel on Sept 3, 2020 14:46:09 GMT -8
83k put contracts at the 125 strike as of the open - doubtful that holds if the overall market stays weak. Anxious to see the updated open interest later (and futures in the morning).
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Post by dc930 on Sept 3, 2020 14:50:44 GMT -8
Turns out those 130’s I sold on Monday were a good idea after all...
That being said, the benefit of being a long term holder like many here is we’ve seen this before, and this too shall pass. If you asked me in March whether there was a chance we would be at 500 pre-split I would have thought you were nuts. Perspective.
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JDSoCal
Member
Aspiring oligarch
Posts: 4,182
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Post by JDSoCal on Sept 3, 2020 15:30:46 GMT -8
Retail is so dumb selling into this.
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Post by playultimate on Sept 3, 2020 15:39:53 GMT -8
OK, I know we haven't talked pain much lately, and yes the markets in general are down today. But the ideal pain range based on call and put open interest would be 121.26-122.49. Yesterday, MaxPain was right about $125.
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Post by therealmercel on Sept 3, 2020 15:53:06 GMT -8
Retail is so dumb selling into this. AH is all retail money - too bad I can't buy some naked calls. But you're right: dumb retail money.
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Post by archibaldtuttle on Sept 3, 2020 17:04:21 GMT -8
Let’s see if the Fed comes in and stabilizes the animals spirits overnight.
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Post by therealmercel on Sept 3, 2020 17:39:49 GMT -8
If there’s any kind of bounce tomorrow, Put contracts > call contracts at 120-125 strikes should help lift AAPL.
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