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Park City Fall 2020
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Mentor Mike
9:52
He's looking at the December expiration 300 calls
9:49
He is lining that up now...
scot
9:49
Can you give the NEE trade for those of us that missed it
Mentor Mike
9:48
:-)
Guest
9:48
We are the knights who say Nee
Guest
9:35
I've done this TTB for teh first time last week and It works great.
Mentor Mike
9:35
Nice!
Kirk
9:35
I got into NEE yesterday when you talked about it.
Mentor Mike
9:32
That isn't how Preston would manage the trade.  Like he talked about yesterday, he waits until Friday to adjust the short puts and the tip-toe burglar is something we only do on an expiration Friday
Guest
9:31
I've been rolling my shorts  when deltas flip, whatever part of the week.  Could Preston speak about that and how the TTB would apply to that scenario?
Bill
9:31
brilliant
Mentor Mike
9:30
Usually we would let the first hour of trading pass, then look at it.  If it seems like a wacky volatile day we might avoid it, but outside of those conditions we consider it if there is still some nice time value in the sold put expiring today.
Steve
9:30
Would you do the TTB in the morning?
Mentor Mike
9:29
Right.  So the sold put from a week ago, that expires today, you are turning that into a one day vertical spread and selling the next week's put like you would have done.
Bill
9:28
its just a same day vertical?
Mentor Mike
9:28
Lol!!
Kirk
Don't drink and trade
9:27
Public Service announcement*
Mentor Mike
9:27
No it only makes sense if you are in the Money Press... it helps you get the last little bit of time value on the option that is about to expire while starting the time decay clock on the next week's put you are wanting to sell.  So you are getting "double time decay"
Anne
9:26
Maybe a dumb question..Can one do a tiptoe burglar on OKTA if not in a MP?
Mentor Mike
9:26
You can do it a couple ways... but the simple approach is you sell the next week's option like you would if you were rolling and you buy the option for that day's expiration.  You can enter that as a spread trade on one order
scot
9:25
is this in the same trade on roll over or a seperate transaction after you do your roll over?
Guest
9:10
Thank you very much
Kirk
9:07
I sold the 245 at 8.67
Mentor Mike
9:07
If you are feeling it is over-extended and are wanting to tighten your protection, that delta is a good indicator that you might want to consider it.  So like Brandon said yesterday, IF you are worried about a pullback moving it to a .40 delta is the move you'd want to make.  If you think it has some more bullish potential, you could wait a little longer to adjust the long put
Guest
9:05
the delta on the long is 28 sohow does that relate to what Brandon said yesterday about rolling your Long to 40 delta ?
Mentor Mike
8:57
Got this question to him!
Guest
8:57
would Preston comment on the large OKTA spread?
Mentor Mike
8:55
Glad you enjoyed it!  I don't know of any other stock splits that have been announced, but we can bounce that off Maggie
Guest
8:54
Much of Maggie's session was veryclear and informative. Pls thank her very much. For this afternoon- are there any upcoming stock splits she is considering trading?
Mentor Mike
8:50
Preston is about to get going again!
Lee
8:21
On the FAR OUT trade, it seems that many move the rails in to get more premium..dangerous move.  If anything, better to move the protection (margin more..ie $10 rather than $5, but keep the rails in tact.
Mentor Mike
8:17
It is sooooo true!  The “boredom trade” usually turns out to be a BAD trade
Guest
8:17
The "no trade today" is a hard thing for many traders!!  Patience is a virtue.  There will be plenty of trades...do not force the issue.
Mentor Mike
8:04
Morning all!
Tim S
8:04
Good morning everyone
Steve
8:04
Good Morning Mike,
Mentor Mike
8:01
Great!
Guest
8:01
Now I'm good, had to refresh
Mentor Mike
8:00
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