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Washington, DC 2021
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Mentor Mike
4:21
Sometimes waiting for the pullback = losing out on the move.  Sometimes the train will leave the station without you.  Since we aren't looking to trade it for just a couple days, if we are a few days early we don't really care.  Timing it perfect would always be great, but not something we try to achieve.
Adam
4:20
Since orcl broke out wouldn't you want to see if you can get in on  a pull back if you can, if it appears it is in a longer trend why would you want to go in at the absolute high when they almost always pull back in normal trading.  If its breaking down you aren't neccessarily selling
Mentor Mike
4:19
Like Brandon said, we usually like to trade into strength.  So sometimes we "buy on a dip" but usually we are trading more into strength
Dario
4:18
Is over sold stocks a factor in selection of a stock to trade
Mentor Mike
3:50
The spread between the bid/ask is never more than 20% of the bid price.  So if the bid/ask is 3.00 x 3.30, the spread of .30 is only 10% of the bid price so it works.  It's a way to measure the option pricing to avoid something with a wild bid/ask spread
Kurt
3:49
Please repeat the 20% rule...lost the feed.
Mentor Mike
3:36
It dropped for a minute or two.  Hotel said that they'd fixed the issue.  Sigh.
3:35
Stream should be back...
3:32
You could do either.  We usually would do the 275 puts, the at-the-money.  The only time you'd go with the 277.5 is if you were feeling more bullish for the next week
William
3:31
Mike – MRVL is trading at about 275.85 right now. For the MP short strike, would you choose the 275.00 or the 277.50 and why so?
Mentor Mike
3:30
I know they are working on it... it takes awhile to render and upload the video.  Hoping we have it later tonight or tomorrow morning
Guest
3:29
Is the recording of today available later today, or not until after the whole event?
Mentor Mike
3:25
I don't think Preston has a plan to cover the SOB strategy today... Brandon will take us to the end of today!
Joseph
3:24
Will we be talking about the sleep over bandit before the market closes or will that be tomorrow?
Mentor Mike
3:24
You'd definitely want to roll the short put... and in that scenario you'd want to adjust the put protection down to maybe 260 puts
Bob L
3:23
So in the CRM MP, if it drops to say $265, do you still just roll the short put  before expiration and leave everything else the same?
Mentor Mike
3:23
Yes I'll see if we can discuss that strategy a lot further tomorrow
Donna
3:23
You have all talked about Calls and selling calls against them several times.  Can you explain that please.
Mentor Mike
2:36
They usually charge a little "fee", but they don't call it a commission anymore.  It is still MUCH cheaper than before
Guest
2:36
Question for Preston: Does Schwab actually charge NO commission?  They charge me $0.46 per contract
Mentor Mike
2:34
You totally could... it would be an extra order/a little more work, but would make you a little more
Barry
2:33
Why not base the long on next weeks, but go ahead and get tomorrows 275 premium and the  roll it to next week at 277.50?
Mentor Mike
2:22
The collar is a trade for when the stock has made a strong move higher.  If you've had a 30 Day low it is too late for a collar... ideally you put on the collar if you've had a bullish run and you think it might be getting near a top
armin
2:21
when you do a collar on a 30 day low, how far out do you buy the put and sell the call?
Mentor Mike
2:21
No the 30 Day Low triggers an EXIT from a bullish position
Ralph Holt
2:21
30 Day low triggers buy?
Mentor Mike
2:13
Any bullish position.  So if you own stock, long call options, or even a Money Press position
Marc
2:12
Not sure if I missed this, but this 30 day low example is when you are in calls and when to get out? If you did covered calls, would you get out of the weekly and the long  under this theory?
Matt Thomas
2:03
Copy, thank you, Mike. I'll do some research with Schwab, but appreciate the confirmation that it should work at our approval level!
Mentor Mike
2:02
Interesting.  I'd call them and see if they can give you an answer.  Selling a call (as long as it is fully 'covered') shouldn't be a big issue and buying a put is the most basic option trading level.
Matt Thomas
2:01
I tried this strategy once (Sell calls above, buy puts below) and was denied by Schwab.  We are Options Level 2.  What is required to assume that risk?  Thoughts?
Mentor Mike
2:01
This is FB  (the chart on the screen/what he's talking about now)
1:59
Not usually.  We use the 30-Day Low as an exit trigger... not an entry for a bearish position
Would Preston consider buying a PUT on FB now?
1:59
Would Preston consider selling a put on FB now since it hit a 30 day low?
Mentor Mike
1:52
If you aren't seeing the live stream, I'd refresh the page or try logging out and then logging back in.
William
1:51
just got a visual of Preston on a rusty tricycle with the handle bar streamers [LOL]
Mentor Mike
1:49
The recording won't have any hiccups or issues.  We have a backup copy from the cameras directly for the recording.  The hotel has assured us they've figured things out.  So far so good.  Fingers crossed!!
Guest
1:48
I agree on the music. Sure hope we can get the dropped live problem fixed soon missing a lot of content. Will the recording have all of it or does it get missed a well?
Mentor Mike
1:32
Starting back up in a minute or two...
Donna
1:32
Kudos to whoever chose the music to play during breaks!
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