Message from @ThisIsChris

Discord ID: 396067062449176577


2017-12-28 22:21:54 UTC  

it's a 3x leveraged bear fund for the broad Chinese stock market

2017-12-28 22:22:22 UTC  

Oh yeah YING and YANG lol

2017-12-28 22:22:29 UTC  

so if the chinese market goes down 1%, it's engineered to increase 3%

2017-12-28 22:22:31 UTC  

yeah, exactly

2017-12-28 22:22:45 UTC  

So I bought a couple thousand worth of OOM call options on it

2017-12-28 22:22:50 UTC  

oh god, 3x ETF, in an options story...

2017-12-28 22:22:56 UTC  

😃

2017-12-28 22:23:06 UTC  

worked out pretty well

2017-12-28 22:23:33 UTC  

Wow, I have to call no homo and no schlomo, but that's really awesome

2017-12-28 22:23:34 UTC  

I could have held on a few more weeks, but I was very happy with the return

2017-12-28 22:24:04 UTC  

opportunities like that don't come around very often .I was lucky enough to read the right news article

2017-12-28 22:24:31 UTC  

I was lucky it tanked so quickly too. If I had been off on my timing it would have been a washout

2017-12-28 22:24:36 UTC  

sometimes things work out!

2017-12-28 22:24:45 UTC  

Yeah good job dude putting that into action!

2017-12-28 22:25:04 UTC  

I love those complex strategies though

2017-12-28 22:25:16 UTC  

it's fun to see them mapped out in thinkorswim

2017-12-28 22:25:35 UTC  

I haven't seen a good opportunity for one yet. I usually keep it simple-minded.

2017-12-28 22:28:01 UTC  

Yeah I love looking at charts showing payoffs evolve in time, and how they start off in these weird smooth shapes that slowly converge to rigid slopes

2017-12-28 22:28:12 UTC  

Yes!

2017-12-28 22:28:48 UTC  

Can you tag me if you're making an interesting trade? I'd at least like to follow along. I might jump in too if I understand it enough to make an informed decision.

2017-12-28 22:29:06 UTC  

Yeah dude I definitely will, please do likewise!

2017-12-28 22:29:08 UTC  

I understand the fundamentals, but I don't spend enough time digging into opportunities

2017-12-28 22:29:09 UTC  

you bet!

2017-12-28 22:30:39 UTC  

https://cdn.discordapp.com/attachments/352760194775777282/396067453714694164/unknown.png

2017-12-28 22:30:47 UTC  

Yeah that's a New Years Resolution of mine is to research opportunities. Past year I've just been doing things around earning season on FAAAMNNG or covered calls on SPY. I had more time to research this stuff a few years ago and looking to get back into it more

2017-12-28 22:30:51 UTC  

The YANG trade I mentioned earlier ^^^

2017-12-28 22:31:25 UTC  

dude that's so awesome

2017-12-28 22:31:26 UTC  

Covered calls are fun

2017-12-28 22:31:43 UTC  

Great way to make your blue chips do a little extra work

2017-12-28 22:32:08 UTC  

Yeah I usually sell slightly OTM SPY calls expiring the next wednesday or Friday

2017-12-28 22:32:27 UTC  

I only have enough shares to sell one, so it's basically me picking pennies off the floor

2017-12-28 22:32:48 UTC  

So it's still worth it even after the transaction fees?

2017-12-28 22:33:24 UTC  

Yeah I can usually get 30-40 bucks out of it after commissions, per trade

2017-12-28 22:33:29 UTC  

not bad

2017-12-28 22:34:03 UTC  

over a month adds up to about 120-150. Really small considering what I have to put down to cover it, but I was burned during Q3 earnings season and I wanted to do something calm

2017-12-28 22:34:11 UTC  

My broker has an API, but they only open it up if your account is freakin' huge. I would love to automate something like what you just said

2017-12-28 22:34:27 UTC  

Which Broker is that?

2017-12-28 22:34:32 UTC  

Ameritrade

2017-12-28 22:34:43 UTC  

Hmm I've heard of it but never used it

2017-12-28 22:35:00 UTC  

Interactive Brokers has an API, they require a minimum of 10k

2017-12-28 22:35:06 UTC  

oh wow