SPY

Wheelwithyosef

I checked 34 posts from the last 48 hours and wrote replies for 3. One is a person in distress, so I'd read that one first. None of the replies has a link, nothing was posted, and you haven't commented in any of these threads. Distress post: r/options, Self Sabatoge, posted about 16 hours ago with about 47 comments. They sold SPY puts at a 40% loss right before the drop, then made a revenge trade with 25 to 30% of their account and ended the day down 40%. They say they feel "stupid, lost, and extremely mad," and a commenter suggests they're a college student. It isn't a wheel question, so this is just a short, kind reply. Feel free to skip it. I'm sorry, that's a rough day, and what you're feeling is something almost everyone who trades has felt at some point. You're not dumb for selling at -40%. Nobody gets exits perfect, me included. The part I'd focus on is what you said in the comments, that the second trade was about winning it back. That's the one that really hurt. If it were me, I'd step away for a few days, not trade at all, and talk it through with someone you trust before putting more money in. When you come back, I'd keep each position small enough that one bad day can't take a big chunk of the account. You've got time to learn this. Protecting what you have left matters more than any single trade. 1. r/thetagang, Isn't the rule not to sell puts during earnings?, posted about 18 hours ago with 11 comments. The comments are mostly jokes, and nobody explains how to actually apply the rule. It's not a law, just a rule a lot of us use, and weeks like this are why. Earnings can gap a stock 10 to 20 percent overnight, and a low-delta put doesn't protect you from that. The extra premium looks great right up until it doesn't. What I do: Check the earnings date before opening anything.Pick an expiration so earnings don't land in the final week of the trade. I sell 21 to 60 days out, around 0.15 to 0.25 delta.Only sell puts on stocks I'd be fine owning for years if a bad report gets me assigned. None of that makes me immune. I got assigned MCD at $285 and it's been sitting near $248, so I'm holding it and only selling calls at or above my real cost. Holding a quality name through a report isn't the end of the world, but writing the rule down means the next one is a decision instead of an "eh, whatever." 2. r/options, Is it time to sell covered calls on oil stocks?, posted about 17 hours ago with 8 comments. They're thinking about selling calls that expire in 2029, far above the current price. Selling calls that far out can work, but you give up a lot of flexibility. A 2029 call ties up your shares for about three years. If oil keeps running, you're capped at that strike and the call gains value against you. If oil drops, the premium only cushions you a little. I sell covered calls 21 to 60 days out, around 0.15 to 0.25 delta, which is roughly the odds the call ends up in the money. Shorter calls usually pay more per day, and every month or two I get to choose a new strike based on where the stock actually is instead of guessing three years ahead. I also set a good-'til-canceled order to buy the call back at 50% profit as soon as I open it. The one thing I never do is sell a call below my real cost, meaning what I paid minus all the premium I've collected. With big gains that's probably not an issue for you, but it's worth checking. Nobody knows where oil goes, so I'd size it so I'm fine either way. I skipped the rest because they were a crowded RDDT pile-on, SOXL venting, questions about spreads, and a general question about tra

LockMyDay

The part that stung for me reading this is the second trade, not the SPY puts you sold. Once I am down and mad, my next entry is usually just me trying to undo the feeling, and that is when a bad day turns into a 40 percent day. What helped was picking a daily loss number before the open and actually walking away when I hit it, even if the setup I wanted showed up right after. I also write down what I felt before that second trade, because seeing revenge written there a few times made it harder to pretend it was a real plan.

Sufficient_Habit5091

Even that is not really reliable. Covid led to more severe economic contraction then the Great Depression in acuity. -33% GDP. 22M jobs lost in a few weeks. But money printer went brrrrr and that contraction was unbelievably brief. SPY at the height of Covid in 2020 actually had nearly 20% returns.

Harp-Note

Apparently SPY performed well after the midterms, since 1950. Now maybe war makes it muted, but I can see things going positive-ish.

unhappyreach_

Yeah, I thought we were going to hit the 740 zone today the way it was dumping . Im seeing SPY 720 on the table after today's dump . Hopefully it bounces here but I think we might be going down

unhappyreach_

I wasn't planning on selling Intel for a long time but seeing the loss is wild lol . It will recover I'm sure Hopefully SPY doesnt take a dump on us

GregGirthman

I mean is SPY 450 really that bad?

miss_L_fire

Ugh I drunkenly ordered a slice of pizza but I also got a salad and added broccoli so that almost evens out almost like my SPY puts almost making up for my GOOG and MU losses lol

polarshark7

And what do you scalp? SPY or what?

blazenation

I only trade SPX 0DTE or 1DTE, depending on when I enter a trade. This is all I trade, however I do watch others like NQ SPY QQQ for confluence. I have been doing so for the last 8 years but my first 2 were break even years, I had small profits then it kept building up. Had my first few months of no losses, then a month of second guessing myself after a break with multiple. Got back on track and would have 1 or 2 small losses a month. I have 2 jobs and trade open and the close. Most of the time during close im at work. I want to retire by 45 which is in 6 years. How long it takes to go full time depends how much time you put in. I got a few friends into it now and we trade together sometimes or share ideas in a group chat. Learn the basics, learn charting, levels. Dont need too much noise,the easier the better

Emilio___Molestevez

market would absolutely rip. $SPY 850 in one candle

Harp-Note

Even if it was real, he was still dumb not investing it in SPY lol

Weekly_One8412

It’s going to chop sideways for a little bit before the rally. Needed to wait for the dip of the dip (not a meme). But this is the right play, wrong time. I personally will enter QQQ calls when SPY hits 740ish. You might be able to sell a bounce, then buy back in for the final dip. Anyways, these are just levels I have marked on my charts. Best of luck.

Intelligent-Land2648

Okay, when am I wrong? You say that I'm cherry picking data, so you show me. > . Like you realize that Puts are only more expensive in cost of unit per risk because of the gradual upswing of the market due to inflation, not absolute dollars right? You're right, I don't know what that means. It's gibberish and an abstraction. The term is volatility skew and unlike whatever you're saying, vol skew can be measured with math. For a broad index like SPY, the vol skew on spy options regularly prices puts with the same expiry and the same strike width (in both directions) as more expensive than their calls with the same expiry and same width. Wonder what this guy was talking about ten years ago. It must have been another rare day where everything was down https://quant.stackexchange.com/questions/18054/how-can-put-options-be-more-expensive-than-call-options-in-an-efficient-market

BlackKnightsOptions

$6 up on SPY in like half an hour was horse shit LOL

orbital_one

Most of the companies in SPY already corrected. In fact, the equal weight bottomed a month ago.

TickTockTaudit

This is the catalyst for the Qs to slingshot past SPY.

unhappyreach_

How are we going to have QQQ in a correction and SPY is still floating like a turd

Intelligent-Land2648

That's not true of equity markets except in very specific circumstances. Most options buying is down by institutions. So Volatility skew inflates put premiums, not calls. They need the puts for downside protection. They don't just want them because they're speculating. They need them to meet their risk models. If you just took SPY as a whole, you'll find a put to be 1.5 to 2.5x more expensive than it's counterpart. Sometime volatility skew makes puts more expensive but those are largely anomalies or different products.

Super-Activity-4675

This 🌈 🐻 bought SPY calls around 3:30 this afternoon for Monday. Also picked up about 10k worth of TQQQ in my 401k. Guessing we bounce Monday and Tuesday. I would not surprised at all if the selling resumed in the next week or so. SPY 720 in the next few weeks is very possible. We're overdue for a correction.

URMomPaysFirMyCalls

How’s SPY higher now than in June

WoodofWallStreet

SPY is up 10% ytd which is about its average. Are you a gay bear and your positions are down?

Ok-Bed-9804

Monthly bearish engulfing candles across the board. Especially tech. I think besides the russell. And SPY futures. Be careful. Expecting overall more down save and couple soft bounces before any real reversal

RockasaurusRex

Come back with my money SPY :rob: :rob: :rob:

RockasaurusRex

SPY flat for 3 months. Just like the 3 months before that. And the 3 months before that.

poopy_wizard132

SPY back down to March 29 levels.

DoesntUnderstandJoke

Barely made it out alive on short SPY 756P. Was down $10k at one point and the 3:30pm pump brought me back to even

Hwangoutpltr

Just bought SPY. See you in 6months

vermilli21

CHATGPT is fucking useless, its saying Consumer Staples is keeping SPY from being -10% LOL

ponziacs

SPY is down to where it was last month. QQQ is down a little more but still up over 12% YTD.

Significant_Speed854

"If you had bought the SPY at the last second of trading on each business day since 1993 and sold at the market open the next day — capturing all of the net after-hour gains — your cumulative price gain would be 571 percent." \-NYT [https://www.nytimes.com/2018/02/02/your-money/stock-market-after-hours-trading.html](https://www.nytimes.com/2018/02/02/your-money/stock-market-after-hours-trading.html)

bibirionlastdisciple

Nope. SPY is still over 700. We are still in the ATH region.

Put_Er_There_Sport

MMs doing all they can to keep SPY over 756 in this AH period.

jlw993

Good job everybody invested in SPY exactly 2 years ago

ASaLoweMon

Usually it is used in reference to volatility/premium, but I have been experimenting with a new method of assessing overpriced options to get a market sentiment gauge. When SPY is at 767.00, you can compare the price of the SPY 767 put to SPY 767 call, to see which has greater premium, and mathematically, it does have potential to be made into a leading indicator since options contracts often force market makers to hedge in specific directions, and if a 767 call 0dte is $0.30 more than the 767 put when price is at 767.00, I'd say its about a 99% chance that price will generally go up in the short term. Mathematically, the entirety of each option is premium when the underlying is at precisely the strike, so it buyers are willing to pay substantially more for one side than the other, it means that there is substantially more implied volatility in one direction than in the other. This doesn't work when there is not comparable liquidity between the ATM puts and calls. For example, if there is only an open interest of 100 call options, while there is an open interest of 15,000 put options, then the price difference between ATM putd and calls is invalidated because the difference is due to the variance from liquidity rather than simply differences in demand. But in cases where there is a 50 to 1 ratio between puts and calls, or calls to puts, the fact that someone purchased all those contracts in one direction suggests that major institutional traders will be trying to pull the market in that direction, which is also useful information.

Sick0h

SPY is up 100% in less than 4 years since Burry said “sell” and there are people that believe that retard knows jack shit lmao. If you scream crash every day, you’ll eventually be right. Doesn’t mean you’ll make any actual money though.

Solid-Season9984

Weekly regime check 📊 my score held at +4 for the second week in a row, so strong bull is now official on my sheet 🐂 What's holding up: 10yr eased to 4.92% and VIX closed at 19.42, just under 20 📉 VIX is the shaky one though, it spiked to 23.9 intraday Friday. One more pop above 20 and we're back to +3 What's still holding it back: Brent over $110 🛢️ and HYG under its 200 day Price is fighting the score again 😤 SPY dumped 1.8% Friday to 755.78, below the 50 day, but the 750.4 low held the September low and it bounced into the bell. Tech did the damage (QQQ -3.7%) while equal weight and credit barely moved. Reclaim 757-763 and price agrees with the score again 🚀 My levels: 776-782 is where I sell rips 🔴 766-774 is first resistance 757-763 is the reclaim line 🟢 748-752 is my dip buy zone, just retested Friday 🟢 735-742 is where I load up 💎🙌 721-730 is where I admit I'm wrong 🏳️ Big stretch coming: election Tue Nov 3, jobs report Fri Nov 6, CPI Tue Nov 10 ⚠️ no new swings for me after Monday morning the 9th. Not financial advice, I eat crayons 🖍️

bullrfuk

In an alternate universe Kamala won. There are no wars, no tariffs. SPY at 1000. Inflation back to 2%. Rates are dropping. Government deficit under control. Economy improving...People are bitching about her laugh and saying she's not presidential material.

Wapmen

Monday is very likely to be a 2 percents up SPY day, its the new month.  But I don't hold any position now. Let's see

wallstreetbets-ModTeam

Thanks for your submission! r/WallStreetBets is ultimately a community about making money through trading, and our conversations should shift around that. Politics are fundamentally intertwined with making money, and political actions almost always have an impact on financial markets. Still, we need to make sure that when we have these discussions, we're explicitly calling out the financial impacts of the politics we're discussing. Otherwise, the conversation can very easily veer off into flamewars and boring, unproductive, discussion. Here's an example of a political comment that doesn't offer any value: * "I hate this new green policy from the Biden administration. What a fucking idiot" Now compare it to this: * "I hate this new green policy from the Biden administration. It threatens the profit margins of oil companies because they will need to expand their OpEx. I have calls on Shell that are going to get decimated at open." The latter is significantly more interesting and offers a great jumping point into market related discussion. Put succinctly: If you choose to start or engage in arguments about libtards or Nazis instead of making fun of their bad SPY long then you're in the wrong place and we'll show you the door. If you're not sure if your content is political, it probably is, and there's probably a better way to post it without making things weird. --- All that being said, we are here to help. We want to make it as easy as possible for you to post to our community. We have to balance this with making the subreddit interesting for our readers. If you need some guidance, don't hesitate to [reach out to modmail](https://old.reddit.com/message/compose/?to=/r/wallstreetbets) and we'll give you some pointers!

wallstreetbets-ModTeam

Thanks for your submission! r/WallStreetBets is ultimately a community about making money through trading, and our conversations should shift around that. Politics are fundamentally intertwined with making money, and political actions almost always have an impact on financial markets. Still, we need to make sure that when we have these discussions, we're explicitly calling out the financial impacts of the politics we're discussing. Otherwise, the conversation can very easily veer off into flamewars and boring, unproductive, discussion. Here's an example of a political comment that doesn't offer any value: * "I hate this new green policy from the Biden administration. What a fucking idiot" Now compare it to this: * "I hate this new green policy from the Biden administration. It threatens the profit margins of oil companies because they will need to expand their OpEx. I have calls on Shell that are going to get decimated at open." The latter is significantly more interesting and offers a great jumping point into market related discussion. Put succinctly: If you choose to start or engage in arguments about libtards or Nazis instead of making fun of their bad SPY long then you're in the wrong place and we'll show you the door. If you're not sure if your content is political, it probably is, and there's probably a better way to post it without making things weird. --- All that being said, we are here to help. We want to make it as easy as possible for you to post to our community. We have to balance this with making the subreddit interesting for our readers. If you need some guidance, don't hesitate to [reach out to modmail](https://old.reddit.com/message/compose/?to=/r/wallstreetbets) and we'll give you some pointers!

504Kris

Made $35k off $1.5k on 200x SPY 760ps I opened during pre-market.

bearhunter429

#Today is the last day and last Friday of the month so we had billions and billions coming in through people's 401ks. If it wasn't for that SPY would have been down at least -5% today. LMAO🤌🍁⛹🏾

OrangeForeva

Too lazy to look up the levels for SPY but a lot further to drop there if we continue.

twat_muncher

SPY JAN 800C picked up for $4.20 each HAHAHA see you nerds next week.

banditcleaner2

Believe it or not - possible. I bought a intel put spread for $20 that hit max profit today for $1K. 5 of those with $100 gets you to $5K. Punt that $5K on 0dte SPY and time the top and bottom perfectly and you're looking at $50-100K. It takes 1 very good earnings trade, followed by 1 very good SPY 0dte

unhappyreach_

I don't want to be that guy, but Tism TA ™️ says SPY 720

WSB-mods-are-

Wsb when SPY is +2% : Damn, you win this round theta Wsb when SPY is -2%: THE WORLD IS ENDING

Stack-Johnson

SPY not even down 2% weak

Low_Plastic363

My average cost is $320. Google will be back over $320 at some point relatively soon. It will just hurt if it takes two years to get there and SPY is cranking out 12% years in the meantime.

financiallythriving

SPY 700 EOY Then SPY 400 next year

Stack-Johnson

Yeah let’s go ahead and clear the slate of leverage. 50% down on SPY

WSB-mods-are-

The best day in bear history and they couldn't even get SPY down 2% 🤡

dljmonkeyboiz

This is range bound. SPY bounced off the Sep. 16 lows. Back up to 773, then buy puts again.

Extension-Horse-5331

People in here saying crash when SPY is up 10% YTD. WHAT ARE YOU GOING TO DO IF THERE'S AN ACTUAL CRASH?

warwww

Selling SPY on Monday

GildedWarrior

So what the first stock are we buying on Monday? NOW, QQQ, SPY,INTC???

MorphingReality

SPY was 14% higher in Nov of 2019 vs 2018 lol

Warmake

MMs had to jump in and save SPY from dropping under 750 and NVDA from dipping below 200. Monday will be disgusting.

verified-trader

**BanBet Lost** — /u/Cosmorto (2W - 5L, 29%) | Ticker | Entry → Target | Move | Time | Result | |:---:|:---:|:---:|:---:|:---:| | **SPY** ▼ | $752.56 → $750.00 | -0.3% | 1h | Lost |

fallingdowndizzyvr

LOL. Plenty of people beat SPY. Like this guy did. https://www.reddit.com/r/investing/comments/1lw0ltf/today_i_made_1m_gains_by_selling_my_entire_nvidia/ So are you calling him a liar too?

Put_Er_There_Sport

So one more 3% crash on SPY? HELL YEA

DonCenote

SPY? Dang that’s a long way down

thegreatestjackman

Time to load up on election day calls boys. SPY historically up easy

creative_trading

The long beta has different assets such as commodities that are in backwardation and in trend right now (oil and sugar). Equities with low carries, example Swiss market futures and S&P 400 midcaps. I also buy assets with a discount to NAV. Relative value is looking at two assets and trading the options against each other. For example buying puts on QQQ vs selling puts on SPY. To do so I need to look at the historical volatilies of the assets and various other things. Usually they are not an exact match. So its like I'm selling hotdogs and buying hamburgers.

SunriseSurprise

Lol picked a fun day to have withdrawn my account. I was up $1k to $8k in a day and a half leading into today, said fuck it and took out, and glad I did because I'd have been trying to reverse the trend all day, and it only moved meaningfully back up after 3:45pm when RH would've forced SPY options closed. Would've needed the wherewithal to switch to SPX calls at that time but damn, anyone who did got any lambos I could have?

504Kris

My SPY $760 calls went from -$200 to almost $1k right before close. NVDA calls were up big too.

OrangeForeva

No you're just retarded. Learn when markets close. Options on SPY and QQQ trade until 4:15 PM otherwise most options close at 4 PM and stocks can be traded in extended hours.

DarkR124

Feel bad celebrating on probably some people’s worst day this year but I just had one of my best. Up almost $30K. 22K from staples and 8K from SPY puts which were basically free money at open. Have a great weekend guys.

dljmonkeyboiz

Lol bro .. call the SPY manager

buyatollah_kuminamy

Wow sad news about SPY. RIP

Bravadette

The ladder for SPY is glitching tf out on RH

Pizza_n_Tendies

Sold everything at the bottom and bought SPY calls cause I'm too retarded to pick an individual company 🤡

Necessary-Lie8487

SPY I love you!!!!

Street-Corporation

Dude SPY going to jump right back. It’s just a fear selloff and profit taking together. The AI spend will never stop. Love how Accenture is green so clearly just algo.

financiallythriving

Imagine buying SPY now when you can buy it at 500 next year

ObiWanCanownme

LMAO, "bloodbath." $SPY is down 1%. It's a realignment. They're selling Google and Amazon because they got a little too Mag-7 pilled and they want to diversify.

financiallythriving

SPY will close negative for the year by way of

504Kris

10 x SPY $760 (Monday) NVDA 230 (Friday) COIN $140 (Friday) These are based on all new positions opening up. Also shorts are closing their positions. Perfect time for a week rally next week? We’ll see.

iCaps_

is that a bear flag in SPY?

504Kris

Calls into next week. NVDA $230 Calls COIN $140 Calls SPY $760 calls

Academic_Lock_1699

If NVDA misses SPY gets a tombstone piledriver

Valkorion335786

SPY will moon once all the poors get their options torn from ther grubby little hands lmao

CoveredCallMeMaybe

SPY at 2x avg vols

Czyzzle

Watching SPY break run up past the stops where I sold is disheartening

Braggazle

This AI run isn't over yet, I see SPY at $1500 in a year.

Beetlejuice_hero

There’s always a degree of luck (or at least fortuitous timing) but it doesn’t mean everyone on this sub opining on stocks is dumb. I can dig up posts from several Redditors including myself recommending/buying META in late ‘22/early ‘23. Many pushed GOOGL when it was trading sideways in the mid 100s. BRK.B is constantly touted, as is “DCA SPY”. But most are here just shooting the shit cause we view stock picking as a hobby/entertainment and don’t necessarily care if they underperform the S&P. Most probably have 401k doing their boring thing in a target date fund in a totally separate account. Just seems weird that you’re so keen to trash a sub you yourself post on. Clearly you disagree.

Sick0h

Just full port the social security fund into SPY rn

Valkorion335786

SPY still green on the all time chart Ber truly destined to lose

peterpeer9

SPY $763 has WMDs Better go invade it

WSB-mods-are-

SPY, going green 🫡

tldamico

I can't believe they're going to pump SPY all the way to break even for the day.

Fine-Will

Bools about to celebrate if we close at only -2% on SPY lmao

DarkR124

SPY and Q’s puts were free money. Hope yall jumped in. I’m done for the day. Have a great weekend chat.

Original_Drama_1094

 has North Korea hacked SPY?

Basis_404_

SPY under where it was in June

userguide22

When we done nuking the bonds, can they also bomb SPY

lobo110

buying SPY calls for up Monday lets do it

bearhunter429

#Stocks off from their 52-week high: #SPY: -3.5% #NVDA: -18% #GOOG: -32% #AMZN: -17% #TSLA: -21% #META: -22% #AVGO: -35% #MU: -32% #AMD: -25% #INTC: -55% #ORCL: -52% #LMAO🤌🍁⛹🏾

YooperSauna

SPY finishing flat would be the funniest thing ever