Still think TITNC3: Return of the Iceberg was peak

https://www.youtube.com/watch?v=F54VkA5hU4w

 

Discovered another GREAT feature of the switch to Schwab...

No LEVEL II quotes in the app...

TD/Scottrade had them right from the stock page...top right, lelvel2 and boom...all the data..
Their solution for now (as they've received a lot of calls about this) is to open the ToS app and watch it there...
I said "Yeah, that's great if I want a steak, but sometimes I just want a hamburger...In and out, quick..."

 

Link....

 

So...still wondering how the 14:00 announcement tanks everything...it's more like they're using it rather than reacting to it...

 

DAAAAMMMN Can we get my daily $SPY $440 leaps ITM today?

 

When I got this message...
SCHWAB doesn't realize what a gambler I am...

 

So on a whim at the basement yesterday I bought a $433 for Monday to use to recover the losses on the $440's for today never thinking the $440's would get close...Now I closed the $433 with enough to cover my losses on the $440's and I wait...Come on baby...

 

Schwab has the same goofy no trailing stops available for options via the mobile ap or website. You can only set trailers on ToS.

 

So....SPY still needs about 40% volume in the last 80 minutes...hmmmm....

 

You should have gone to E-Tarde.

 

I have inFidelity too...
I didn't want ANOTHER account...Besides I'm selling 1/2 my stuff to pay for my truck...
If I had the balls to do a 10x

 

BAM...Closed those dailies at $50 ea right here....MAN if I had the balls...they were $0.01 at one point today....

 

JEEBUS still running
Stupid conservative gambling

 

Can you explain to me like I’m 5 for what you’re doing? Did you buy call options?

 

Yea
Many people call them Zero day option Leaps..
So they are out of the money and a waste of money and a total gamble...
I bet yesterday so not complete zero days...but if you had the balls to day to throw $10 at
10 $440 11/10 SPY calls...and you rode them to their max...You would have purchased 10 contracts for $1 each at around 10am
and then sold them at the end of the day for $89 each...netting you $890 for a $10 investment...scale that to $500....and you have 500 contracts at $1 sold for $89 and you turn $500 into $44,500
I'm assuming you could never have the balls to ride them to $95 each and make $47500




Yesterday I purchased a $433 call for Monday to cover the 6 $440 contracts that were out of the money and dead in the water ($1 each) today...but since I had that insurance I let them ride...
NOW The market could have stayed stagnant or gone down to $430 today and never come back and I would have lost about $550....

This is a casino sir...

 

I went to Fidelity, their options trading is trash, from what I can tell. If I was an active trader, ToS is pretty good. For my stupidity, not worth it. Not doing much for options right now, if I decide to start gambling a bit again, I'll deal with figuring out who's got the best then.

Oh, you think he knows? That's giving him way too much credit

 

Got it. I somewhat understand it. Been poking around calls and maybe I’ll just set aside a small pot to dabble in calls with one day. For now I’m a boring boglehead style investor that just DCA’s

 

So you have to apply for options approval...It's an easy process if you have enough history with a broker..
If you want to do "Day trades" in and out of calls you would want to have >$25K in account value otherwise you're stuck with 3 trades at a time...

 

Is the approval just due to it being zero day options? Or is that all options in general?

say I buy 1 call options contract (100 shares) for $1 premium for a stock costing me $100. Stock price goes $10 above strike price, so it’s $9 in the money. So 100 shares x $9 in the money gets me $900 profit due to the $100 premium I paid?

and if stock price never reaches the strike price at expiration I’m just out the $100 premium I paid?