Honolulu Options Traders

INTERMEDIATE OPTIONS CLASS week 1

Two trades which show how we trade close to the money. Placed closing orders at 50% of available profit. Each has potential to make > $500. The 50% closure is so we can quickly book the win using change in delta. These trades are clearly distinguishable from those that simply sell OTM Puts and make money using theta and vega.

TRADERS MONTHLY MEETUP

This is our free monthly Meetup, held third Fridays from 7:00 - 8:30 am HST. You can join in person or via Zoom/phone using the link below.�We will meet at the Starbucks at Ala Moana Hotel, Honolulu. Parking is available at Ala Moana Shopping Center, but don't park next to the hotel (u will be ticketed!)��

This is a hybrid event!�

No matter what you trade, you can always learn from others and make new friends! Become a better trader! Swap trading ideas. Drink coffee.�That's it.�--------------------------------------�

No financial advice given. Trading options contains significant risk. Examples given for educational and entertainment purposes only.���

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Find your local number: https://us02web.zoom.us/u/kdnVRefGw

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THE WORLD OF MLMs AND FINANCIAL CULTS

Multi-level marketing companies employ cult-like techniques to recruit new members, but the similarity goes far beyond.

Here one researcher describes her investigations (something MLM members never do for themselves) and what she found.

The Controversial World of MLM's... And What Nobody is Talking About. In this video, we delve into the world of MLMs (Multi-Level Marketing Companies) and explore their allure and controversy. And let me tell you... MLMs can be...

One of our members asks, do you have a CPA in Hawaii who is familiar with the taxation of options?

If we get a half dozen or so responses, then I will post them all so members can choose.

Thank you.

Here is the Schwab site . . .

How are Options Taxed? If you're new to options trading, you may be wondering how those trades are taxed. Here's a rundown of some potential tax pitfalls with options strategies.

A SLOWER MARKET ?

Time to sell 0DTE, sell Iron Flys at the money, buy Butterfly's away from the money.

Wait.

SBUX CLOSES BATHROOMS.

If you are a trader over 60, and need to use the bathroom every hour or less, don't bother going to SBUX. Corporate is closing their bathrooms, and adding to their denial of human conveniences. Just like they recently stopped serving raspberry flavour for their drinks. And removed most of the chairs and tables in their stores. This was long after Covid.

Meanwhile, they play horrid music that no one has ever heard of because the playing rights are cheap.

Im about to go to Coffee Bean instead.

https://www.cnn.com/2022/07/21/business/starbucks-bathrooms-stores-closing/index.html #:~:text=Starbucks%20may%20close%20bathrooms%20to,efforts%20to%20make%20stores%20safer.&text=Last%20month%2C%20Starbucks%27%20interim%20CEO,to%20its%20staff%20and%20customers.

COVERED CALL WORK AROUND

Your stock is down, but you believe it will recover. Meanwhile you don't want to sell your next call at a low strike, which will limit any upside. What to do?

Here is a workaround: hold the stock, but sell Puts when the stop has dropped (say 20%) but sell Calls again when it has recovered to recent highs. The extra income from selling Puts might be enough to compensate for drop in stock price.

Example: AAPL is down to 170. So sell 150 Puts and close them when you want to sell Calls again.

Wdyt?

CNBC TO DROP "OPTIONS ACTION" ?

The network announced today it is dropping "Options Action," the weekly half-hour segment for options traders. However, they also said that options trades and commentary will be mixed into their "Fast Money" segment, which airs every day. That means options traders will have to watch more TV to get tips and trades.

Do you think this is a good idea? ,

www.cnbc.com

TIMING IS EVERYTHING . . .

As an options trader, you need patience. Don't simply buy or sell based on your mood, or day-to-day gyrations. Have a strategy and place your short trades when they have highest probability of success.

Now, as predicted, VIX is back under 15 . . . and going lower. Soon it will be time to buy back those short calls and count your profits. Next move for VIX will be back above 15, somewhere near 18 or 19. To take advantage of this move, begin to sell put options when you think VIX is at Bottom, close to 12.

At age 17, she was rejected from college.

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At age 27, she got married.

Her husband abused her. Despite this, her daughter was born.

At age 28, she got divorced and was diagnosed with severe depression.

At age 29, she was a single mother living on welfare.

At age 30, she didn't want to be on this earth.
But, she directed all her passion into doing the one thing she could do better than anyone else.
And that was writing.

At age 31, she finally published her first book.

At age 35, she had released 4 books, and was named Author of the Year.

At age 42, she sold 11 million copies of her new book, on the first day of release.

This woman is J.K. Rowling. Remember how she considered su***de at age 30?

Today, Harry Potter is a global brand worth more than $15 billion dollars.

Never give up. Believe in yourself. Be passionate. Work hard. It’s never too late.

She is J.K. Rowling