9/4 Thread (BC):

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Playing a morning bounce and afternoon drift lower today. Should be quiet volume heading into long weekend. See you all next week!

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Sold all of my short term puts here. I usually Take profit too early for what it’s worth. But I like my profit. Longer term puts still in place but scaled down for now

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The bounce was at the open. Apple was up nearly 3%.

BC - now we have room to run to 106 on Apple. Do you think we get there by EOD?

110 is likely today I think. 106 could be a flash if 110 breaks and then we get a sharp bounce

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They’re going to try to bounce it higher soon. 107-110.25 is bounce zone

In hard on 117.5 calls for next Friday and entering 105 calls slowly for next Friday

Bc too late for calls?

IMO yes. I’d be targeting $105 or $110 puts for sept 18 now

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Wow the AAPL volume is crazy high. 160M already

Really not that large given share split. 4x shares trade for same value.

Executed that cost average to perfection.

Uvxy 30s could be worth a look for next week. Contango still really steep though

I bought the puts in the middle of the sell off and sold them on the retracement. A lazy way to make some money because I was only tracking AAPL and PTON. There were plenty other call options, but I couldn’t keep track of when each hit their objective, so I bought 20 puts in VXX when it was around 32.9 and sold them at 30.

BC, do you foresee VIX rising to 45 again? It spiked to 85 in March, 45 in June, and 38 as of yesterday.

Trying to understand if expected VIX spike is (a) equal legs to 45 again or (b) continuation of the larger wedge pattern so 38 would be the top until the market cools off for a while

Not sure how to use VIX central to answer this on my own so thought I’d ask.

Absolutely going back to 45 imo by Nov/Dec.

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