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Park City Fall 2020
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Mentor Mike
2:05
Usually we just hang tight until Friday.  The majority of the time if the stocks make a surge higher Mon/Tues it is likely to have some profit taking.  So just waiting it can be the right play.  Of course we never know exactly what the stock is going to do, so we'd rather just stick to a process instead of trying to emotionally time all the little moves
Justin
2:04
So in Preston's approach, if we have a big day (like this last Monday), does it ever make sense to buy back my weeklies and roll to next week's ATMs... or always hold until Friday?
Mentor Mike
2:01
Couldn't have said it better Hans!
Hans Johnson
2:01
Maggie more like a day trader, its totally different lifestyle vs Preston more like swing trading on set schedule - depends on person/temperament and lifestyle preference.
Mentor Mike
1:53
I'll see if he can speak to this question as well
Paul D
1:53
What about when earnings are really good, but stock goes down?  Like GS yesterday?
Mentor Mike
Where Preston likes to hold to the end of the week/Friday
1:52
He is answering about the different approaches to rolling vs Brandon and Maggie
Mentor Mike
1:41
Yes, correct
Justin
1:41
powder keg question: if earnings is a week after the split, am I correct in assuming the same concept applies?
Mentor Mike
1:36
Preston does pay for a subscription, but if you create an free account you get access to a lot of the calendars, etc. for free
Hans Johnson
1:36
Is that a paid subscription to Briefing.com?
Mentor Mike
1:23
A lot of these concepts can still apply... you can sell calls or still buy some puts for that protection.  You still want to watch for the "30 day low" as well as a place to exit.
Steve
1:22
What if you don't own the stock, but have call options that have greatly increased. (e.g. Jan 2021 calls that were bought in Jan 2020)?
Mentor Mike
1:13
If my comment didn't come through the stream, what I was saying is adding the put protection is favored as opposed to selling the stock.  It removes the emotion of trying to get out and back in and trying to time that.
Mentor Mike
1:12
He's talking about selling calls against a position, so not a naked call.
Guest
1:10
sell a nAKED CALL?? dONLT UNDERSTAND AT ALL HOW THAT WORKS.
Mentor Mike
1:00
Thanks Lee!
leeb503
1:00
google tradestation spx index ticker
Mentor Mike
12:53
I'll see if I can get that from Preston at the break... I should know it, but just rely on him to know it!  :-)
Hans Johnson
12:52
Hi Mike, Preston mentioned earlier a lady who recommend 5 areas of future tech innovation, was there a name or book she authored? Wanting to get those categories nailed down good if possible, thanks.
Mentor Mike
He will finish out the day for us
12:50
Brandon is on at 2:15 PM Mtn / 4:15 PM Est
Guest
12:50
No Brandon?
Mentor Mike
12:46
Sometimes the brokers have a little different quote for the Index... I found this on the internet for TradeStation: S&P 500 ($INX/$SPX.X) - - Maybe you could try one of those ticker symbols?  But yes, the SPY is American and SPX is European style
Elaine
12:45
I do not see SPX in Tradestation only SPY.  When i search the internet it says that SPX is European and SPY is American.  Please clarify.
Mentor Mike
12:44
Just about to start back up again...
Anders
12:44
When do we start again?
Mentor Mike
11:38
Breaking for lunch now... we will be starting back up at 12:45 pm Mtn / 2:45 pm Est
11:15
Going again now... Preston will take us into the lunch break
11:12
Just about to start back up... will have about 30 more minutes before a lunch break
Guest
10:56
do you have multiple accounts (for example, one account for Far Out trades), or do you make all your different trades using the same account?
Matt
10:51
If she saw the drop starting  on Sept 3rd, and had the put vertical on, how would she have exited?
Craig
10:50
For clarity, does the $5 spread reduce the margin tied up on the trade from $10,000 to $5,000 using the previous example?
Mentor Mike
10:41
You technically can, but if there is any time value left in your sold option it is very, very unlikely.  The person exercising the option would be throwing away the time value to exercise which really doesn’t ever happen.  (The SPX options are European style and just settle in cash so you wouldn’t get put any stock anyway on this particular trade)
Bill
10:39
can you get filled ITM with this trade at any time?
Mentor Mike
10:32
Usually just the volume is the best indicator for how much money is flowing in/out of the market
Bill
10:31
what tells you there is not a lot of money in the market?
Mentor Mike
10:24
What I just asked Maggie was about sharing the slides, and she will gladly share them!
10:06
I’ll ask Maggie if she can share her slides... we will post those on the site as well once she sends them over my way
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