@Joe_WallStreet what prices did you strangle BAC? thanks
For the strangle I grabbed the BAC 16.00 Calls at 0.02 and the 15.50 Puts at 0.03. Was my first time strangling BAC and was testing it out since the contracts were dirt cheap. The Calls side of the strangle won and more than covered the loss from the Puts side. My one mistake was not adding a few more contracts and making even more money.
Thanks again, solid, I looked at your trade sheet and will study more over weekend. Good trade, I watch BAC every friday, usually floats or sinks to the nearest .50 or .00 for op/ex shenanigans (jmo)
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@Joe_WallStreet just became a fully transparent trader today!
Glad to be able to see through you friend!
OK Joe youre right Im stop following Luke. I was hoping if I encouraged him a little he might prove his trades but he wont so Im move on. Check out my website. Click my name and i post a link to it there. Tell me what you think and be honest please. laters-
@MarcMunoz Luke made me a lot of money. I would never stop following him, lol.
@Joe_WallStreet Does TD allow more than 1 margin account? Most brokers will let you have multiple accounts but you're only allowed 1 margin account.
@Joe_WallStreet Did that give you more than 3 day trades? Or were you over 25k?
At one point all 3 of my TD Ameritrade accounts were margin accounts. I ended up requesting that they remove margin from one of the accounts and converting it to a cash account so that I could day trade Options without having 25k in my account. Stocks settle in 3 days but Options settle overnight, so as long as I trade with settled funds I can trade as often as I'd like.
My current account setup with TD Ameritrade is this: Account #1: Margin + Options... Account #2: Roth IRA with Margin + Options... Account #3: Cash + Options... I only trade with account #3... Account #1 is pretty much used for banking.
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