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Al
11:26
what is TSCO long expiration?
Mentor Mike
11:21
We haven't adjusted on WDAY yet... that's the last one to adjust.
Mark
11:20
WDAY as well?
Mentor Mike
11:20
No unfortunately the government won't let you use margin like this on IRA accounts... they don't want people leveraging money they haven't taxed yet.  :-/
John
11:19
Can u do this with IRA?
Mentor Mike
11:19
Regular margin is when your broker just gives you some extra buying power to buy stock.  For example, you have 100k in your account and you can buy 200k worth of stock.  (not options or spreads, just stock)  Portfolio Margin gives you even more leverage if you use protective puts.  Live P is discussing now.
sid
11:18
what is the difference between  Margin and Portfolio Margin?
Mentor Mike
11:13
He didn't place the trade yet, but at lunch he is most likely closing STZ for now.  I'll let you all know for sure when I can verify that.
Mark
11:13
So what is he doing on STZ?
Mentor Mike
11:13
www.MoneyPressWatchlist.com is for Brandon's Watchlist Preston was just discussing
11:12
Yes, on CYBR we bought to close the 120 put and sold to open the 127 put for next week.
Dwight
11:12
I have cyber. Did he just update this weeks trade?
Mentor Mike
11:12
Congrats Chuck!  Exciting!
11:11
Yes the technical term for a Money Press is a put diagonal spread
Chuck P
11:11
Using Schwab, I had my first fill following Preston. ALGN is called a Diagonal Put Spread Is this correct?
Mentor Mike
11:11
Yes STZ has been a little more wacky and wild for us!
Rick Berry
11:11
STZ is not a steady eddie.
Mentor Mike
11:04
Ralph, we usually enter both legs at the same time like I mentioned in the earlier post.
Ralph
11:04
now that I got filled(ALGN) do I sell next weeks higher priced options?
Mentor Mike
11:03
I'll ask Maggie and see if she knows Rick.
Rick Berry
11:03
Some one talked about this yesterday.
Mentor Mike
11:03
He had closed out of the CYBR directional a little while back...
Jen
11:03
He had cybr in as a crow bar last fall.   Is that still relevant?
Mentor Mike
11:03
No, no adjustment on the long/protection on ACB.  With earnings coming up we will probably be making some adjustments on it soon.
Duane
11:02
Right on time - thanks Would he adjust the longACB
Mentor Mike
10:59
Yes I'm sure he'll spend some time on ACB, but I'll ask!
Duane
10:59
Maybe if Preston has time the ACB MP - how would he proceed? Roll out - adjust the Long??
Mentor Mike
10:58
Did he talk about that earlier Rick?  Are you referring to the Walk Limit order that can send limit orders and adjust by a penny at a time until you get a fill?
Rick Berry
10:58
Wish you could ask about trick to place limit where cents is neither quarter or dime divisible.
Mentor Mike
So total debit to the account was 7.50
10:54
The weekly 315 put we sold is the May 3rd expiration
So buy to open the 300 p July and sell to open the 315 put for next week
Then buying the July expiration 300 put.
10:52
We are selling the 315 put for next week's expiration
Guest
10:50
good stuff Preston.  Goes very well with Deltas
Mentor Mike
10:29
He's answering a question someone had about his routine... thanks for the question, I hope that helped clarify.
Brad Lauer
10:28
gotcha
Mentor Mike
10:28
Yes of course... he's showing everyone some of his routine that he usually does at the 1 hour mark.
Brad Lauer
10:28
The market has been open for hours
Mentor Mike
10:23
Mike B nailed it!
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