How to Defend Short Puts | ShadowTrader Weekend Edition

[@cherie128]

So happy you and your family are safe! Thanks for your market wisdom!

[@topfuelfan]

Was definitely wondering and watching the horrific fire events unfold for the past several days. Glad your good and thanks for the update.

[@alanchurch8787]

Peter, Very glad that you, family are safe! Thank you for an informative presentation .

[@unknow210]

the tricky part of trying to defend those short position is that, sometime the market move in extremely volatility, by the time you make your decision, you might've already miss it or in a worse position than before that will cost you even more trying to defend it. Most often than not, if you have to rush, you tend to make even more mistake...

[@davidkireta787]

Thanks for a great show. Stay safe!

[@Kimmie-999]

I’m so happy to know you and your family are safe. God bless you and thank you for doing this everyday.

[@CO-ph9nv]

glad you are safe, hearts go out to all affected... and on a side note, masterclass this week, see you on Monday

[@360TradeCraft]

Great video as always. Every trader is going to be slightly different. I like to use the OTM 0DTE options on the QQQ - puts and calls. If it looks like we are having a trending down day ---and IF I can get out infront, I will buy puts with a higher strike and convert to a bear put spread. You can make money - but the market can reverse - but at least you have defined your loss, and have the potential for gain. If this is not possible, then I'll go out in time, purchase a put with 3 months in expiration (typically) and then reassess. I've now risk defined the trade (effectively turn the position into a call option) and I can see if the market will rebound and start selling the covered call premium needed to cover the cost of the put. If the recovery is swift - then you can exit early with a substantial gain. I dislike buying short dated expensive premium - with time I can turn the debit into a credit. Of course, position sizing and product selection are key as well.

[@citylife3229]

Why not just buy/short futures?

[@360TradeCraft]

@@citylife3229 I have a number of strategies I employ - All of them combined can be margin intensive. My current broker doesn't allow me to integrate futures positions into my regular T-Margin account - I'd have to have a separate account. I'd have to use the full leverage potential of futures contracts to hedge risk and I would expose myself to margin calls (I don't want to seperate my capital). I have looked into a portfolio margin account at IBKR ----but sadly Canada doesn't not allow for Portfolio Margin ( the many many things wrong with the Country). I am leaving luckily I am leaving Canada in the nearish future and will have access to an IBKR Portfolio Margin Account where this might be a viable strategy.

[@TheNickarora]

watched your video for the first time, great work. Having said that I could not understand the trade from the numbers etc that you shared (the large loss turned into way smaller), if you had given an example would be easier to follow, eg, you sold $20 puts, and adjustment was to sell $30 calls above or buy $15 puts or $25 puts or whatever, I mean I really wanted to understand what you did really...)) thanks

[@ssrwarrior7978]

Peter blowing up accounts for some of the traders again with selling naked options again? It happened few months ago with SPX

[@Kuanyin3]

23:45 there are two purple lines for anchored VWAP which one are you referring to, is confusing you have a red circle on one purple line and then you’re pointing to the second purple line below the red circle please clarify

[@ruanof7]

Thanks for the Information; Glad you are well in Los Angeles.

[@blackdiamondoffthegrid8703]

Thanks Peter for the market update!

[@iannorfolk3288]

Great info Peter. Thankyou.

[@TheOnlyGreatGuy]

What about selling calls, essentially creating strangle? And if stock is moving further down, roll calls down? If direction reversed, move up puts?

[@uzoo6000]

An IronFly

[@lumiloz]

Thanks , but when you add that long units above , are you doing those ITM or ATM ?

[@caiobortoli]

Looks like OTM

[@kishormistry2581]

Peter it would help if you explain in option chain so people like me can understand well! By the way i do nothing and you explained that is the worst thing to do! I understand now and in future i will do what you are explaining! Thank you .🙏🙏

[@ssrwarrior7978]

Peter blowing up accounts for some of the traders again with selling naked options again? It happened few months ago with SPX

[@Kuanyin3]

22:46 pick up shares of Netflix? Not options.?

[@cardinbell7375]

If you converted to a reverse mullet, shouldn't the 6 contracts at 21250 read +6 (seems you never closed the +6 of your original position)?

[@paulscott3836]

clear as mud

[@philippeisabelle9594]

Hedge your Delta. By position or asset.. I prefer by asset. You can use the minis.

[@caiobortoli]

That's why I love futures and options on futures. In Brazil we even have stock futures so you can buy/sell stocks on margin. Unfortunately we don't have markets 23h by 5 days like CME futures, though

[@midiaz71]

what if it went back up and you added those above?

[@vikramgaddam8824]

Love from India

[@citylife3229]

The options adjustment segment was great. "Do Nothing" is the worst choice, as Peter said. However, the options trades are too complex for me. I just use futures and let things ride out, average up/down as needed.

[@bohlmandan]

I was surprised you didn’t mention that the SPX has a head and shoulders that triggered -am I correct in assuming this?Bl

[@Moon007raker]

Thanks. Good Info...

[@mikkey112]

I had LLY put credit spreads deep in the money. But I rolled them into call credit spreads and got out of a tight spot!

[@mikkey112]

Why is rolling inevitable failure? Why would you roll in the same direction? Maybe people haven't heard of rolling put credits to calls credits and vice versa. Can that be true?

[@stefanopavesi8758]

Hi Peter, glad you are doing fine. Can you please add the Russell 2000 on your next edition?

[@ferdimemelli3858]

Peter, the problem with your trade is that you have been misreading the market for quite a few weeks now. Since Dec. 18, I have opened large short positions with far out expirations, and have gone long only intraday. Basically, shorted every bounce of SPX above 6000.

[@dduhnut]

Agreed. There has been a clear downtrend in NDX. Classic lower highs and lower lows. And then despite the extreme moves, Peter enters into a large naked put position? Wow.

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[@OklaTorch]

The paper comes off the roll faster at the end. Life is also similar to the wheel & paper.

[@ThePokersurfer]

We go up on Monday and never see the lows again ..... aka "h pattern"

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[@braddeicide]

So if you sold puts and you think now that we're dropping, buy puts to help pay for the ones you sold. It seems a lot easier to explain than how you've done so. Beware, if the price doesn't drop through, you've wasted that money going long puts. You may spend more defending like this than simply having an earlier stoploss.

[@russellriner8501]

Really like your show buddy. In first example should’ve done bull put and got out of the way when you had a gain. You’re over complicating options trading. If you’re making adjustments, you shouldn’t be trading options. Means you’re wrong, and wrong in a big way because it’s costly and you didn’t research and structure the trade appropriately. Just my opinion. To each his own, but whatever. To everyone else 2025 will not be like the last two years of 20% gain, buy the dip. Most of you should probably sit on the sidelines in cash. loads of chop guys. Take your profit when you have it and get out. Nobody went broke taking a profit. Follow price action. React don’t predict. Don’t tell the market what you want it to do.

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Spam

[@ssrwarrior7978]

Peter blowing up accounts for some of the traders again with selling naked options again? It happened few months ago with SPX

[@wabiisabi]

8:07 “when the NDX was strong” I’m sorry but there is nothing “strong” about that point in the chart… it’s just the first up candle after a gap down and 2 down days.

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Spam

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We refer to this fellow as Mr. Opposite. Let's hear what he has to say so that we can plan the exact other side of the trade.

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Which fellow are you talking about?

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I just started watching him. He’s seems to be very highly intelligent with high octane content in his words as I like to call it. Have you tracked him a while now to say what you’ve said?

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@@gracediegelman3599 Yes, for years. If you hate your money, then by all means do what he says.

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@@citylife3229 As I said, Mr. Opposite. Are there others?

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