1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
Great Morning
Closing Prices From Yesterday
Today’s Number(s)
Yesterday and Today
Yesterday
A dull and crazy market that fought all day to run higher, but got squashed on the close. Much of the attention people are focusing on is still Hong Kong, and any sign of releif there is probably a big up day.
TODAY
Probably the worst day of the Hong Kong protests will be today because of a national holiday. This means that anyone that has a job has the day off and can also participate in the protests. Expect a big turn out, which the media will be all over. So unless the economic numbers are perfect, I expect today to be down as the media tries to insinuate that the crowds are getting bigger. They are not getting bigger other than today.
POT is held each Wednesday night at 7:00pm eastern.
Contract the office at 1- 855 ā RWT ā 0008 for more details.
Yesterday
Risk Reversal
I cleaned up the risk reversal (like an idiot) and we have on downside protection after taking off the quarterly condor on Tuesday.
Recall that (the quarterly condor) was taken off for $6.30. All day I was thinking it was a mistake, but the closing sell off made it look good. Below shows where the spread would have closed had it still had $6.30 in premium still in it.
This Week ā Gamma Scalping
Remember: it is possible to sign up for ONE (1) if you are wanting a specific topic.
NEW:
I gleamed over the new and additional approach I am taking to POT when it comes to placing paper trade examples. This new approach will be two-fold.
ONE ā I will be assigning a level of difficulty to each trade (from 1 to 5).
This is done so that the participants get get a better handle on the degree of difficulty each example is prior to it being placed.
TWO ā This also ensures that students of any and all levels of sophistication will find examples that pertain to them. It will also help newer traders elevate their level of sophistication by pulling them up a level, instead of stagnating in one area.
This begins Wednesday.
Italy people please see our current greeks below.
Notice that we are short some deltas, and too many. I brought this up in the Italy update, but was not concerned as I think we are opening down tomorrow. Either way, I will clean this up after the open by selling another put spread. One of them has to work out…lo.
Too True To Be Funny
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Attorney Stuff
DISCLAIMER (Seriously!)
Trading is almost as much fun as black jack in Vegas, but without all the annoying distractions of free drinks, Broadway shows, gorgeous people with low morals, and free buffets. It also has about the same odds of success, so when you lose all your money you wont have to walk past a smiling pit boss. Even Bruce Wayne lost everything with options in The Dark Knight Rises, and Superman keeps his day job at the Daily Planet newspaper.
We have the utmost respect for our attorneys who tell us any attempt to trade is throwing money out the window, and investing is risky business (still a great movie). Past performance doesnāt mean a thing. The future is even scarier. Random Walk and everyone associated with it promises absolutely nothing. We guarantee nothing. We wont ever do anything right unless it is an accident.
Random Walk only provides education (and a great cup of Starbucks if you visit our office). If you want advice please consult an attorney, licensed broker, Joe Kearnan, tax consultant, investment adviser, etc. Random Walk, LLC is full of morons, dolts, has-been(s), chromosome damaged individuals, thieves, losers, and carnival barkers. Any attempt to find a semblance of intelligence or integrity in Random Walk would be a waste of time. We will sell products, but advise against buying them. We Do Not Give Advice.
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