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Discussion in 'The Mainboard' started by Joe Louis, Jul 12, 2010.
Trump catching the covid is just proving to be a solid reason to buy dips.
I got murdered on that AMD run up from 50 to 80.
if you want to hold onto it, just roll up and out? regardless, you made gains and were in theory happy to sell at said price plus the premium.
yeah, that's the perspective i'm taking. i didn't write against my whole position either so still long at my original basis. i've been keeping my eye on it for weeks looking for a chance to close at a loss, but really this one got away from me almost a week after writing. oh well, there's some other stocks i wanna go long on (IAC) so this frees up some cash i suppose ...
follow up question ... "roll up and roll out" = writing another one and using that cash to help offset the cost of closing out this position?
Rolling up and out is buying back the call you sold then selling covered at a higher price and further dated to avoid getting assigned. You take the loss on buying back but you offset somewhat by going up (higher price) and out (longer dated for time decay aka theta).
This is a 12 dimensional strategy
I always sell calls and puts between 45-60 and buy back around 21 unless it’s gone parabolic. The tasty trade method. It’s all apart of the theta decay play. If it explodes on you like I got with AMD, you take the loss and move on.
Although the tasty trade method would argue you’re supposed to avoid AMD and DKNG in that scenario but yolo
unfortunate thing is this is a "play around IRA" account so I don't have the cash/margin to close out unless i sell another position. which i could do hypothetically, maybe VXUS since it hasn't done a lot for me. but i was thinking about closing early on, just really underestimated Americans' propensity for degeneracy with the NFL coming back (which ironically is the whole reason i bought the stock in the first place)
I do it but I don't think it's necessarily that smart. It's the exact same thing as opening a new diagonal on it.
At $40 there is no extrinsic value on the DKNG option at all so it's like an entirely new trade
Busy right now but somebody please tell me they saw that BA rip. 200% return in NEXT week calls in 10 minutes intraday. Amazing to see the shorts scrambling to cover.
bailed early and got about 40% on my sqqq and slv calls earlier, so i bought a couple in the money sqqq calls at close in case anything happens over the weekend
Buying options on a 3x etf? That's bold
So basically you are hoping for a Trump death this weekend? Things are looking fairly solid for you so far.
This is a gambling thread
For this week, I'm looking at SPY 343 up top with stimulus pumps (maybe more with squeeze) and then 326.5 if "bad" things happen. 335 looking like balance and the short-term bull flags that popped up are still in play.
In and out of BA for an early morning +20% scalp. Looking for another go after Euro close if we can get a good reentry.
Chevron bottomed on March 23 at 52.63, but bounced quick on the 24th at 64.66. it’s currently testing the $70 support.
Just sold the $65 puts 46 DTE for $2.35.
Anyone have PEIX or AZRE? I’ve had them for 6+ months, they’re way overvalued at this point, but I can’t bring myself to sell either of them because they keep going up. How do you know when to get out of stocks like this?
Just looked up PEIX. Holy shit, you must've made a killing.
+1200% in six months.
I just wished I’d put more than $100 in it back then. (I was throwing $100 each at about 20 plus stocks I was hoping would pop.)
but back to my question- does anyone have a rule for knowing when to get out? I normally sell half and then kick myself when it keeps going up but I have too much in Oil & Energy right now (a sector that I’m not bullish on, apart from those two positions).
Start writing weekly ATM puts
Honestly, if you followed my rules you would've been out of it months ago and made not nearly as much as you have
No one ever went broke taking profits.
Take half out and let the house money ride.
I keep debating whether or not to take profits on my NOW and TENB plays. I bought em early in the pandemic and they’ve proven quite strong but this will be another test of all time highs and they can’t seem to do much.
My biggest concern is the tax implications are quite large this year (they’d be at 34%) so feels like I’m giving away quite a good bit in doing so. Unfortunately my tax situation should be more conducive to taking profits in 2021 but idk what capital gains taxes might look like under Biden so just flip a coin?
Trump's tax cuts didn't take effect until his second year in office just FYI. I highly doubt the tax code will change for the 2021 tax year in any major way, but I've certainly been wrong before.
SUPER LOW volume. SPY trading 31M shares with 25 minutes to close. That is back to summer doldrums levels. 96% of S&P 100 stocks up on the day.
Market jumped when he said he was being discharged. If he does not, does it have a big drop tomorrow?
I’ll sacrifice a couple years of retirement if he dies this week.
What happened to IOVA? Meeting was scheduled for 4:30, nothing happened all day, dropped 20% after hours within 2 minutes of the closing bell.
VIX up too. Reminds me of early September
Yeah it's kind of weird how we dropped back to those 323-327.5 levels and then moved up like we did in August. Today's volume was way, way lower than it has been though. Like 50% lower than the lowest days from the past month. It's like people are waiting to see what happens with stimulus + Trump. The big money doesn't care and just melts everything up. It's hard for me to say what is going to happen here. We could keep going up to like 346.5-348.5 which would really put some stress on shorts. Honestly I am starting to think the next two weeks are up. Late October for any major volatility unless Trump becomes severely ill. VIX/VVIX along with DXY just haven't been making sense lately, so I haven't been using them.
We’re in a potential transition back to deflation given the oil drops and DXY signaling higher lows the past few weeks.
WOW scalped BA this morning for another 20% and was a little disappointed that I took profit early again. Took a nap through Euro close after I closed out. Just saw the inverse of what happened last week when price went up $7 in 10 minutes took place. Huge disaster avoided. Somebody dumped 3 million shares and dropped the price from $174 to $166 in 10 minutes.
They've had nothing but negative news since about 11am. Someone knew and dumped.
Oh? Guess I'll have to go take a look. I mean what negative news could they possibly have that they already haven't? Thought all that was already locked in. Outside of another plane crash that is.
Jet maker cuts long-term forecast by $200 billion
Commercial aviation and services markets "will continue to face significant challenges due to the pandemic, while the defense and government services markets remain more stable, Boeing said Tuesday in its yearly outlook.
Boeing (BA) lowered its total market-value forecast by $200 billion to $8.5 trillion over the next decade from a year- ago forecast of $8.7 trillion.
"Airlines globally have begun to recover from a greater than 90% decline in passenger traffic and revenue early this year, but a full recovery will take years," Boeing said.
The company forecast a 11% drop in demand for commercial planes in the next decade and, in a separate outlook for the commercial aviation market, said it sees passenger-traffic growth to increase by an average of 4% a year in the next two decades.
Well I guess that's why my BA stop loss kicked in after it was up 2% this morning......
lol I mean, that was already kind of known. In fact, I'm guessing the market makers had this news conveniently dropped after a metric fuckton of people piled into BA calls the past few weeks. Well, just glad I dodged the carnage. Looking at an order I had ready to go if BA pulled back in my TOS orderbook right now. Says the expected stock price to match my options order is +$7.50 higher lol (it was like -$2.50 before I took a nap). Damn what a savage move.
Yeah very good thing you had a stop loss set. I haven't seen a dump like that since Facebook announced they were doing a competitor for Zoom. That was when Zoom was like $180. It dropped $15 instantly on a Friday when I bet a ton of Zoom call-holders were already celebrating.
That's the thing: none of it was "news" - but none of it was active headlines, either.
It's like the CEO said, "oh shit, stock is going up...better say a bunch of negative shit!"
Yeah what a clown. It's like they are still doing share buybacks or some shit. That's something you say on Friday afternoon.
Chamath's third SPAC, IPOC, announced the acquisition of Clover Health and the market does NOT like the move
Just when I thought the BA dump was going to be the most insane thing I saw today...
Stimulus rejected I guess.
6.5M volume SPY candle on 5-minute chart that isn't in the first or last 10 minutes of trading. That is bad.
Every single stock just took a massive downturn. WTF is happening
This thing where he does the most unpopular thing all the time will some day catch up to him hopefully
Wow. It was such a good day until 30 seconds ago.
If Robinhood had a “sell it all” button, I might’ve used it after reading that tweet.