Damm that was nasty.. tried to buy at RUT 745 it bounced for like 30 min. LOL went short at 744. sold out at eod.
I held my longs until it was clear we went going to reverse.. so all in all made some coin..
One thing I have learned doing this is always have a back up plan.. that's why I like to trade around support and resistance. if it does not go your way.. you just switch sides.
We will bounce some day... but we could drop another 150 dow points tomorrow. if we get a bad jobs report
RUT is right at 50% retracement of the last run up.. fwiw.
No just kidding. This happens quite a bit on any stock that gaps big and fades on expiration day as many short sellers on the day want to close going into the weekend. Just a tip though for those who dont have access to level 2 quote boards use a 3 min candle. Its best to see three green bars to enter after 3:40 pm. than watching for the shadow on a 10 min chart.
I know. I've heard a lot of contrary commentary about them being a scam but I listen to him on the day trading radio sometimes just to hear him. He's got a funny voice and his constant reference to ray ray just has me cracking up all day.
Question to straken.
I have 2... yes ... 2 option trades under my belt....OCT 14 TNA 28 calls and OCT 21 VXX 47 calls ...
I am looking to daytrade at, or, slightly in the money SPY calls at least a week from expiration.
Although this seems the most liquid stock option...it looks pretty thin to me at 75kish as of now.
I use IB and have a 1 day 3 minute bar setup with ma(5) and williams(9) and will apply similar methods
as swing trading.
I frequently change limit orders with IB when trading stocks and this is fine...
But, with IB I get a warning that there is a charge for changing orders on options. ( probably just a buck or two havent looked)
Is this typical and if so why?
My chart draws the bid ask spread throughout the day and it appears to be approx 2 or 3 cents when things are quiet.
How are fills on market orders on the SPY options that are trading with volume?
I would never trade a stock on such thin volume but there doesnt appear to be a choice with options.
My reason for wanting to daytrade options is flash crashes , europe etc and I prefer to have less money on the table.
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