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Post by Deleted on May 29, 2013 12:46:29 GMT -8
Have order to Open Weekly $435/$440 BCS in place at $3.78. Requires AAPL to drop, in the next hour, to $443.70ish. Its a Day Order. If not filled will be looking at next weeks expiries. AAPL failed to drop by about $1.25 for my order to fill. Oh well, now looking at next week. I see AAPL hitting a peak during next week before pulling back a bit.
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Post by Deleted on May 29, 2013 12:49:24 GMT -8
I want 445 to hold today. Close, but no cigar. Which is why I closed my Weekly $440/$445 BCS today. I didn't like the trading.
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Mav
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Post by Mav on May 29, 2013 13:23:02 GMT -8
Because JD's our pain range correspondent, that's why.
Pain range is a touch more nuanced than max pain, which AAPL Pain puts at 450 or 460 based on call OI, which, uh, isn't really all that helpful.
445? I can deal with that. Considering the broader market turned over just before close as well.
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Post by appledoc on May 29, 2013 13:34:20 GMT -8
I need more iPad action in here!
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Post by terps530 on May 29, 2013 13:41:34 GMT -8
Because JD's our pain range correspondent, that's why. Pain range is a touch more nuanced than max pain, which AAPL Pain puts at 450 or 460 based on call OI, which, uh, isn't really all that helpful. 445? I can deal with that. Considering the broader market turned over just before close as well. why do you figure that max pain is only based on call OI? you're just looking at call walls- not combined calls + puts. Correct me if I'm wrong but JD's pain range is max pain, and is where the lines intersect between 440 and 445. 445 is also the largest combined call+put OI. it's also, well i'll say it as 'not necessarily nice' to assign someone as the X correspondent. this is a forum and a lot of people contribute. People don't ask technicals questions with the preface, "Hey doc, ipad, or mace ONLY- what do you think about this move?" yes im butthurt yes i just want to be cool too and help
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Deleted
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Post by Deleted on May 29, 2013 13:41:35 GMT -8
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Mav
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Post by Mav on May 29, 2013 14:16:51 GMT -8
Uhoh. Cheap iPhone. World's ending.
Actually, probably not. I coulda sworn I saw a glimpse of the future when the new-gen iPod touch launched with an A5 + the _newest_ Retina Display, which surprised me a bit. Combine that with iPad mini's old+newer tech and Apple's definitely got some lower-cost surprises in store this year and/or next.
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Mav
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Post by Mav on May 29, 2013 14:17:48 GMT -8
terps, as far as pain range correspondent, I'm talking like, "let's go to JD for the weather report" type correspondent. ;D Nothing too exclusionary in intent there.
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Post by lovemyipad on May 29, 2013 15:40:10 GMT -8
Found a PM bottom slightly above the SMA50. Hopefully this bodes well for today. I was wondering about that too. Successful test of support?
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Post by lovemyipad on May 29, 2013 15:47:32 GMT -8
I need more iPad action in here! LOL!!
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Post by lovemyipad on May 29, 2013 15:50:12 GMT -8
Well, this mid-channel crap is good for scalping, but that's about it. Otherwise, it's the Head Fake Zone. Fake out the bulls; fake out the bears. Rinse and repeat. We're consolidating for some move -- whether up or down remains to be seen.
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JDSoCal
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Post by JDSoCal on May 29, 2013 16:18:19 GMT -8
I need more iPad action in here! Meh, she doesn't hold, just in-and-out. But speaking of iPads, does anyone here actually use one for trading? Or are the iOS brokerage apps really just for Joe Six-Pack retail guy? I'm not impressed with Schwab's, unless it were for an emergency. I'm seriously considering a new Retina MBP come WWDC, but wondering if iPads have any actual utility for this thing of ours.
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Post by sponge on May 29, 2013 16:23:02 GMT -8
I do most of my buying on the iPad or iPHone. I sell on the computer only because it is easier to manage off setting lots.
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Mav
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Post by Mav on May 29, 2013 16:32:23 GMT -8
iPad, I nominate that evil/goofy grin as a new emoticon. ;D
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Post by moltenfire on May 29, 2013 18:01:48 GMT -8
CNBC app finally got updated to support iPhone 5
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Mav
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Post by Mav on May 29, 2013 18:15:39 GMT -8
About time. Cheesy CNBC Alarm Clock App has iPhone 5 support.
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Mav
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Post by Mav on May 29, 2013 19:17:38 GMT -8
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Deleted
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Post by Deleted on May 29, 2013 19:51:00 GMT -8
why do you figure that max pain is only based on call OI? you're just looking at call walls- not combined calls + puts. Correct me if I'm wrong but JD's pain range is max pain, and is where the lines intersect between 440 and 445. 445 is also the largest combined call+put OI. I want to know why its called max pain, when the result of the formula is least pain (to the options writers)?
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JDSoCal
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Post by JDSoCal on May 29, 2013 19:55:35 GMT -8
why do you figure that max pain is only based on call OI? you're just looking at call walls- not combined calls + puts. Correct me if I'm wrong but JD's pain range is max pain, and is where the lines intersect between 440 and 445. 445 is also the largest combined call+put OI. I want to know why its called max pain, when the result of the formula is least pain (to the options writers)? Maybe they're just really empathetic.
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Deleted
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Post by Deleted on May 29, 2013 20:04:32 GMT -8
Well, this mid-channel crap is good for scalping, but that's about it. Otherwise, it's the Head Fake Zone. Fake out the bulls; fake out the bears. Rinse and repeat. We're consolidating for some move -- whether up or down remains to be seen. Well, I think I have found something in my observations of P/C Ratios. I have developed a trading metric I call the Thurman Reversal. The Thurman Reversal is based on a reversal within options OI. The Thurman Reversal is not predictive of price, it is predictive of the end of one trend and the beginning of the next trend, to a particular week. According to the Thurman Reversal the current upward trend will end next week. Its to early to tell if AAPL goes flat or the trend reverses thereafter. Early indications are that the trend will reverse, but I need 3 more days of trading activity to confirm it. BTW, back testing the Reversal has proven it to be very accurate.
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Post by Deleted on May 29, 2013 20:07:11 GMT -8
I want to know why its called max pain, when the result of the formula is least pain (to the options writers)? Maybe they're just really empathetic. What a bunch of nice guys. Who woulda thunk it?
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Mav
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Post by Mav on May 29, 2013 20:33:42 GMT -8
I thought the EO motto was, "I feed (on) your pain."
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