Yesterday’s Option tribe Meeting:M3 Trading Strategy by John Locke.

SMB’s Options Tribe is an online community of options traders dedicated to sharing successful options trading ideas with all of our members worldwide. Each week the community will meet online for the primary purpose of watching live presentations made by veteran options traders and experts in the world of options trading.This week, John Locke presented his New M3 Trading Strategy. … Read More

This Is What Insider Trading Looks Like

One of the most volatile stocks last week was LNCR. On Wednesday the Financial Times reported that it was in talks to be taken over for over $40 per share. The stock immediately spiked on heavy volume from 26 to 29. The market clearly believed the story. So it was on the top of my list for trading the rest … Read More

New AAPL weekly ‘fly and SPXPM update

This post is another in a series tracking the hypothetical performance of broken wing butterfly trades selected by Greg Loehr of Optionsbuzz.com. The hypothetical butterfly on the SPXPM is progressing nicely. You’ll recall that this was instituted as a “longer-term” trade compared to the weekly broken wing butterflies that I had been tracking on AAPL and SPX. So for now … Read More

Longer-Term Broken Wing on SPXPM

This post is another in a series tracking the hypothetical performance of broken wing butterfly trades selected by Greg Loehr of Optionsbuzz.com. Over the past several weeks I’ve been selecting and tracking hypothetical broken wing butterfly trades, in real time, using the weekly options. I was using AAPL, SPX and most recently SPXPM, and all six trades produced simulated profits … Read More

“Et Tu, Bruno?”: Lessons for Traders from JP Morgan’s Recent Loss

London’s “Whale” got harpooned. After being in the press for taking outsized positions in the credit derivatives market, it finally ended for Bruno Iksil, aka the Whale—and badly.  JP Morgan’s recent multi-billion dollar trading loss caused a huge amount of angst in the financial press over its prop trading activities and risk controls.  As traders, we should pay attention – … Read More

Facebook Live

It is time to use the most overhyped IPO of the decade to share a few tips on First Day trading for an IPO. In addition to the tips below I will be broadcasting LIVE starting 5 minutes before FB begins trading and will probably continue to broadcast for another 5 minutes once trading begins. Everything written below is based … Read More