▲ 3 r/Punkt

Do Punkt phones have a duress password security feature?

For use against thieves, for example? That wipes the phone if a specified password is typed in?

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u/QuadernoFigurati — 2 hours ago

Daytrading Futures out of an IRA: UBTI?

I'm exploring the prospect of setting up an IRA with my US broker in the usual way (trustee through Inspira, Entrust, etc.).

For those US taxpayer daytraders who daytrade index futures out of their IRA (e.g., NQ, ES):

Is it true that because we're using margin we have to pay tax before distributions? That seems illogical, otherwise I see no point of trading out of the IRA.

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u/QuadernoFigurati — 23 days ago

Tastytrade---> no paper trading...

Hi good folks...

The question is how did you seasoned folks work up the confidence sufficient to dive into Tastytrade without papertrading on the platform, seeing as it has no papertrading function?

Update: For context, I'm a futures intraday trader (non-options); I only trade the NQ. I have 2 primary goals for options, neither of which involve intraday trading.

First is to use a cash secured put to at some point get into the QQQ without buying the absolute top. Second, after assignment, to sell OTM covered calls on my shares to generate a small yield on top of the capital gains. If it works out, I'll later add up to 2 additional contracts, one of which with expanded risk parameters in order to wheel it while keeping the short calls on the others farther out of the money.

I'm no expert, but I do understand the fundamentals of options trading. I moreover routinely conduct options analysis for my intraday futures trading and pay for a service that plots intraday gamma levels on my futures chart via an API.

But I've never executed a live options trade. And because the transaction in question involves tens and up to hundreds of thousands of dollars, I want to paper trade this for a bit. Dropping to the QQQM is too expensive for this kind of training for me, and that's a completely different asset with very different characteristics.

I want to practice executing short puts that don't get assigned and then managing short calls after getting assigned. I want to become intimately familiar with the options platform in the same way I trained myself on my futures platform (Motivewave).

Secondarily, at some point I would like to explore option strats for intraday trading in ranging markets, such as credit spreads and iron condors. But that's a separate goal for way down the line.

Many thanks in advance...

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u/QuadernoFigurati — 2 months ago

Soliciting strat feedback from pros...

Futures daytrader here (options noob), looking for feedback from seasoned options folks on an investment strat for QQQM. Why an option rather than an outright purchase: to reduce the cash outlay while waiting for profitably.

Buying 1 deep in the money call. 125 strike with an expiration of January 2027: QQQM price is currently at 295.44. Delta is .99. Will pay the ask (174.70) because the impact on the breakeven vs. the bid is immaterial. Not concerned about liquidity because I plan to exercise to exit when it's in the green. Will sell the option if the demand is there and the spread is good, but I'm not counting on that.

Upon exercise, will immediately sell and pocket a portion of the shares, throw a portion into the wheel, and hold the rest.

Any errors, omissions or blind spots?

Many thanks in advance...

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u/QuadernoFigurati — 2 months ago

Longtime futures daytrader, looking for feedback from seasoned pros on the prospect of my first options transaction.

For context, it's not a daytrade, it's an investment play. I actually want to move some of my savings from SWVXX to BND, so I'll be happy to get assigned if it happens. But I'll also be happy to collect premium if I dont.

Treating this as an event-driven strategy. Sell 35-day puts only when IV Rank ≥ 40%, which historically spikes around CPI releases and FOMC meetings. Data I collected reflects that it's not unreasonable under the specified conditions to expect 50¢ a share. Will look to do $25k worth as the first go, assuming the idea/expectations are viable.

Thanks in advance for the feedback/guidance.

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u/QuadernoFigurati — 3 months ago