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Tampa, FL 2022
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Mentor Mike
2:16
Welcome everyone!  Thank you for being with us!  Glad you enjoyed it and the replay should be available early next week!  Until October!!
Harry
2:16
thanks mike
micmcgu
2:16
Thank you Gentlemen & Stella it was a very educational couple of days, I enjoyed it very much
Mentor Mike
2:04
If my bought put had a nice gain, I want to pocket those profits and "reset" the position.  That way if I do sell a put for the week or a few days it is setup for a more neutral/slightly bullish week.  Then if I take another week or two off of selling puts I can just sit back and watch the long put gain in value again
Harry
2:03
so you had a 3 month buy put sold it maybe 6 weeks in and roll it out rather than just wait until it expires. why take the cost of a ticket roll?
Mentor Mike
2:03
You bet!
David Caron
2:03
THANK YOU MIKE!!!
Mentor Mike
2:03
Yep exactly... and Brandon talks about how he finds a support level and if it breaks that he takes off the Short put and lets the long put ride.  So lots of ways to take advantage of that.
Harry
2:02
Our TDOC conversation before would have been a perfect move for what you a describing on the white board?
Mentor Mike
1:29
Rolling again!
1:09
Breaking for about 15-20 mins now then Preston will take us home!
1:08
Very true!  Thanks Kevin.
Kevin
1:07
This is beautiful! I'm not getting  misty eyed on you here.  Jamison's perspective is very relevant.  I relate more to Lee, but having that make money enjoy money is something to think about.
Mentor Mike
12:27
I'll ask him if he has one we can share!
Ed
12:27
Lee, A member list of tickers would be helpul.
Mentor Mike
12:27
Nice Mark!!  Congrats!
Mark Frank
12:26
first money press. Thanks TEAM!
Mentor Mike
12:01
Glad to hear!  His experience trading has groomed him to be a really great teacher!
Kevin
12:01
I really appreciate Lee's perspective.  thanks
Mentor Mike
11:58
If you are feeling bearish, then yes you totally can.  That just flips the trade to a directional bearish position... where if it drops you'll be making some money!
Harry
11:58
ok but my thinking at the time was this money press just turn in to a short if i hold the may put,is that thinking wrong?
Mentor Mike
11:44
Preston felt with a few big earnings names and the current conditions being unstable that it might make sense to just go to cash for maybe a week or two.  We never know exactly what the market is going to do, but with the way things were looking he felt it was best to go cash for a bit
Harry
11:42
sorry I hit the return key so couple of back to back messages. my question we had a few trades in the last month that the protection put were in good shape but Preston closed them out complete i did as well like TDOC. with the market conditions seams to point in the direction of hanging on the the ITM. scratching my head a little.
Mentor Mike
11:42
Thanks Greg!  We are rolling again!  So hopefully the stream is coming through.  (If you need to, give your page a refresh)
Greg
11:41
Even the intermission music selection is top notch!  Thanks for everything.  Can't wait to catch up on the sessions I had to miss because of work.
Mentor Mike
11:41
Thanks Harry!
Harry
11:41
Hey Mike great program.
Mentor Mike
We are at break for lunch... start up again at 1:30 pm Eastern
10:35
Just give your page a refresh and you should be back in business.  We stopped it briefly to get the recording file uploading a little early!  Thanks!
Tom O’Donnell
10:34
My screen says live event ended. Am I not going to be able to watch the rest of the event after lunch??
Mentor Mike
10:23
You can use a "roll" order where you sell to close the current puts and buy to open the new put protection on the same order.  If you need to break it into two orders, buy the new protection FIRST then sell the old protection on the 2nd order
Steve Barid
10:22
How do you close out a protective put before extending protection with a new put?
Mentor Mike
10:14
Great!  Start small or on paper and you'll start to learn a ton getting a trade going
Grant Wilkinson
10:14
I still want to do my first.
Mentor Mike
10:03
We can just close it down completely if you want to play it safe.  The other option is to tighten the puts and sell a little further OTM calls to give it a little more room to pop
Delta David
9:56
How do you negotiate an MIT Trade when you approach Earnings?
Mentor Mike
8:48
Morning Steve!  We are just starting up after our first segment and morning break!
steve
8:48
good morning everyone
Mentor Mike
8:48
Great question... you can let the two expire IF they are out-of-the-money.  If they are ITM then you'll need to buy back all 5 and sell 3 the next week
Dario
8:47
If  you are rolling can you switch from 5 to 3 contracts you do close out the 2 contract from 5 to  3
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