President Biden and Democrats in Congress have long memories about how Republicans responded to big legislative initiatives in 2009.
1) Get used to the following term: “budget reconciliation.”
This is the special parliamentary process President Biden and Congressional Democrats plan to use to advance the next coronavirus relief package. It will likely take a few weeks just to move such a COVID-19 measure.
President Biden and Democrats in Congress have long memories about how Republicans responded to big legislative initiatives in 2009.
That’s where budget reconciliation kicks in.
Republicans are already complaining that Democrats aren’t working with them on the next COVID bill.
The easy response is draft a bipartisan bill which has universal buy-in from both sides.
Let’s consider the quintessence of the Senate: Unlimited debate and an unlimited amendment process. But budget reconciliation eliminates that option.
In 1974, Congress approved the Budget Act which established the contemporary budget process.
Average, everyday Americans are actually familiar with budget reconciliation even if they don’t realize it.
Under budget reconciliation, Senate debate is capped at 20 hours and amendments are limited. The House already limits debate and amendments
This is why Democrats probably can’t do other “policy” bill under budget reconciliation. Immigration policy, statehood for the District of Columbia and expanding the size of the Supreme Court are out
And both sides have used budget reconciliation to try to achieve their own policy goals – especially when they know they can’t overcome a Senate filibuster.
Expect the House and Senate to move their initial budget measures this week. This isn’t the coronavirus bill itself.
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Curated the best tweets from the best traders who are exceptional at managing strangles.
• Positional Strangles
• Intraday Strangles
• Position Sizing
• How to do Adjustments
• Plenty of Examples
• When to avoid
• Exit Criteria
How to sell Strangles in weekly expiry as explained by boss himself. @Mitesh_Engr
• When to sell
• How to do Adjustments
• Exit
1. Let's start option selling learning.
— Mitesh Patel (@Mitesh_Engr) February 10, 2019
Strangle selling. ( I am doing mostly in weekly Bank Nifty)
When to sell? When VIX is below 15
Assume spot is at 27500
Sell 27100 PE & 27900 CE
say premium for both 50-50
If bank nifty will move in narrow range u will get profit from both.
Beautiful explanation on positional option selling by @Mitesh_Engr
Sir on how to sell low premium strangles yourself without paying anyone. This is a free mini course in
Few are selling 20-25 Rs positional option selling course.
— Mitesh Patel (@Mitesh_Engr) November 3, 2019
Nothing big deal in that.
For selling weekly option just identify last week low and high.
Now from that low and high keep 1-1.5% distance from strike.
And sell option on both side.
1/n
1st Live example of managing a strangle by Mitesh Sir. @Mitesh_Engr
• Sold Strangles 20% cap used
• Added 20% cap more when in profit
• Booked profitable leg and rolled up
• Kept rolling up profitable leg
• Booked loss in calls
• Sold only
Sold 29200 put and 30500 call
— Mitesh Patel (@Mitesh_Engr) April 12, 2019
Used 20% capital@44 each
2nd example by @Mitesh_Engr Sir on converting a directional trade into strangles. Option Sellers can use this for consistent profit.
• Identified a reversal and sold puts
• Puts decayed a lot
• When achieved 2% profit through puts then sold
Already giving more than 2% return in a week. Now I will prefer to sell 32500 call at 74 to make it strangle in equal ratio.
— Mitesh Patel (@Mitesh_Engr) February 7, 2020
To all. This is free learning for you. How to play option to make consistent return.
Stay tuned and learn it here free of cost. https://t.co/7J7LC86oW0