Stock Market Crashes on Open, Circuit Breakers Trip

[valuecreator]

Retirement (or the lack of) is the elephant in the room.

 

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[Mbc]

Is anyone else trading options in this crazy market?

I've been going long on some calendar/diagonal spreads (both calls and puts), and selling credit spreads and some naked options trying to take advantage of high IV.
I'm rather bearish in the medium term (although just closed out some SPY calendar put spreads today because I felt IV would be against me).
I think it will be a slow decline though, so no more IV spiking. VIX is still in backwardization until Sep so still Bearish outlook. It starts to flatten after that, so maybe market is thinking that's when things pick back up for now?

At this point I don't feel confident owning anything that is Vega positive tho, so probably still going with credit spreads in the short term.
And maybe looking at long term calendar spreads (1yr out long Call) since Calls are pretty cheap even with current IV. Like a Jan 21' 280C is about 60% underpriced right now, IV could halve and it would still not be ovepriced. I would then be selling shorter term Calls against it (poor man's covered call).

If I had larger capital I'd be selling Puts, like MJ suggested in another thread.

Is there still an active Options thread on the forum? Maybe in the INSIDERS?

 

[amp0193]

Retirement (or the lack of) is the elephant in the room.

Big motivation for me to achieve my financial goals.

My parents were set to retire next year.

They should have retired 5 years ago.

I don't want them to work anymore.

 

[GuestUser4aMPs1]

I saw that. Gold, silver and crypto are all just crashing like crazy. I figured they at least would somewhat hold their value? Especially the metals.

Silver seems to be holding and higher than last year same time

The way I understand the weird drop in Gold/Silver is that it's simply investors liquidating their positions. Keep in mind that the G/S you probably are referring to are the ETFs (paper G/S) and NOT the price of owning the physical Gold and Silver somewhere.

 

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[MJ DeMarco]

Is there still an active Options thread on the forum? Maybe in the INSIDERS?

There are several on the INSIDE, although I wouldn't call them "active" -- they get a few posts per week. Lots of folks do trade options (I do regularily) and when I find something interesting, I post in there.

My active options trading account is up for the year. (My paycheck pot, obviously, is down).

 

[c_morris]

Is there still an active Options thread on the forum? Maybe in the INSIDERS?

There are 2 INSIDERS threads.
1 for beginners and 1 focused on MJ's strategy.