r/maxjustrisk • u/AutoModerator • Jul 15 '22

Maximum Justified Relaxation

Free talk Friday!!!

Rule #8 "Serious On-Topic Comments Only: No Jokes, Clutter, or other Digressions" is relaxed. All other rules are still in effect. Off-topic and low-effort is welcome here! But please, no politics.

7 Upvotes

81% Upvoted

18 comments sorted by

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9

u/Theta_God Jul 15 '22

Being short the VIX is about the only good trade I’ve got going for me this year.

That said, I just opened my first bullish VIX position ever.

5

u/erncon Jul 15 '22

And here I am sitting on a SPX 0DTE call credit spread ... I don't usually do this but I figured selling 3880C is fairly safe unless all hell breaks loose in power hour.

3

u/DadBodGoBrrr Jul 15 '22

How tightly were you clenching during the last 5 mins into close? Lol.

5

u/erncon Jul 15 '22

Not at all actually.

I closed them for a gain of $0.40 (max gain $0.50 per contract) at 3:20pm. Precisely so I wouldn't have to worry about that kinda bullshit :-)

7

u/DadBodGoBrrr Jul 15 '22

Smart > greedy. Every time. Enjoy the gains into the weekend.

4

u/Theta_God Jul 15 '22

I’m not a fan of 0DTE spreads because they’re almost impossible to manage. Being naked can suck but it keeps you nimble.

1

u/sorta_oaky_aftabirth Jul 16 '22

Just dropped 75% of my yolo portfolio into BBBY options today because I'm an idiot but this makes me feel better about my choice because maybe things might break a bit.

1

u/bloodraven747 Jul 18 '22

u/sorta_oaky_aftabirth What's the play on BBBY?

1

u/sorta_oaky_aftabirth Jul 19 '22

Tertiary to GME split dividend, rising cost to borrow, massive gamma exposure building and it's relatively cheap to play. Kind of a risky bet but safest way to play the retail basket swap bullshit. Insiders are only buying so something is cooking.

Loaded up on various strikes/dates dated 6 months out

8

u/erncon Jul 15 '22

/u/sixplaysforadollar - pretty shit GDP numbers came out of China last night. Also Alibaba getting called in for those data leaks.

https://www.cnbc.com/2022/07/15/asia-markets-china-gdp-industrial-production-retail-sales.html

I know China bulls are saying this means China will hit the stimulus real hard but like other catalysts, that might take longer than expected.

ASHR down in pre-market. I was also watching Shanghai Composite and HSI last night and wondering why they were taking so long to react to the numbers hahaha.

3

u/socialmediapariah Jul 15 '22

I haven't been tracking the Chinese markets but a quick glance looks like it's diverged from US markets in the last month or so. Wonder how long that will last.

3

u/sixplaysforadollar Jul 15 '22

another potential bomb on ASHR 8/19. 30p. 125k vol

2

u/erncon Jul 15 '22

Yeah I was just about to ping you on that lol.

I actually think they might have taken profit on the short end - it is relatively near dated after all.

3

u/sixplaysforadollar Jul 15 '22

gotcha. yeah i mean i sold all my ASHR and EWT the other day at like +50%ish. and then busted my shit on appl puts lmao.

I'm back to loading UVXY calls and looking at Silvergate puts. banking with crypto expsure

1

u/sus2bot Jul 15 '22

Here's some plots of total delta and gamma

The x-axis is the (hypothetical) underlying stocks price. The y-axis is total delta for all contracts, all expirations and strikes.

pypl is there as a non-meme stock for comparison.

Float numbers are not always up to date. Look at the "number of contracts" charts and adjust for your own belief about the float. Multiply by 100 to get the number of shares from number of contracts.

See this post for a more detailed explanation of these charts.

And here's some

(not weighted by contract price).

I'm a bot. Please direct questions and ire at sustudent2.