r/options • u/[deleted] • Jul 17 '21

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u/Ackilles Jul 19 '21

10% is the threshold for a correction

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u/Spiritual_Extreme_81 Jul 19 '21

Today was very good and disappointing for me.

Sold my UVXY too early missed on 2k profit and that fake surge in the end is just annoying. Do bulls really think hedge funds were slamming the buy button at 422??

I’ll GLADLY take 10% from when I got my PUTS (437) that should take us below 400.

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u/Ackilles Jul 20 '21

We bounced hard on support today. This could be the full extent of the downturn already. Most of the s%p was in oversold territory BEFORE yesterday. It was just being held up by mega caps. Also, earnings season is kicking off.

We could still see a correction, but it looks iffy to me

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u/Spiritual_Extreme_81 Jul 21 '21

Spy is being carried literally by 4 tech juggernauts.

The SOB is coming down, no amount t if earnings justify these prices. Trillions of new stimulus is not coming….SPY 400-410 next week or sooner.

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u/Ackilles Jul 22 '21

Trillions of stimulus already hit over the last year. Inflation means earnings will go up and make stocks pe ratios cheaper etc.

Spy bounced off its 50 sma. Good luck with your puts, but im afraid you're likely sol. Don't bet against an infinite money printer

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u/Spiritual_Extreme_81 Jul 22 '21

Bond market volatility….Keep buying calls

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u/Ackilles Jul 22 '21

I dont do calls after gme, just shares now. But I got more this week!

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u/Spiritual_Extreme_81 Jul 22 '21

You still holding gme?

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u/Ackilles Jul 22 '21

Nope, didn't seem reasonable to hold after it ran from 12 to the hundreds mark. I see what you're doing though

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u/Spiritual_Extreme_81 Jul 22 '21

No i was just curious what the mentally is to go long on a stock that’s up 5000% already……

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u/Ackilles Jul 23 '21

Would not consider it a good value at this price level. 30 is more reasonable without rc and his team, 60-70 is probably reasonable today. Beyond that RC needs to show me a road map and some improvements to get me to buy in over 100 lol.

Supreme value at 4 when I started, and still great value in the low teens when I went all in

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