Is the stock market going to tank?

[CovertM]

On these speculative stocks, do you guys but or sell short or long dated options?

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I tend to keep things in the short (30-45 dte) time frame for "long" term hold speculative stuff.

The positions that I think are powderkegs and could go parabolic any day, I shy away from CC. I have gotten burned in the past by having too much of my position tied up in calls and the underlying takes off.

ex. ATOS...I sold calls last week on Tuesday morning before it went for wild (IV and Premium did as well) and was deeply under water on those. Would have much rather offloaded 25% of shares when it tickled $10

I've gotten burned too many times on buying options and find myself firmly in the sell camp at this time. I will also sell ITM puts in a position I have confidence in if it dips hard...ATOS again, sold $5 and $7.5 puts today while it tanked for good premium.

Haven't played with or looked into LEAPS that much.

[LeeLau]

Hey Rod- I usually write options for the YOLOs. Sometimes I buy puts where I have a big runner that I hold but use that for protection to preserve some profits-- kind of like a strangle. I dabbled in more exotic strategies but that doesn't really square with my predilection for disappearing for weeks at a time to go skiing as those strategies require constant baby sittting imo

For the buy and hold "boring" port I do occasionally use LEAPs. Eg i have TTD stock but also leaps.

[rod9301]

Hey Rod- I usually write options for the YOLOs. Sometimes I buy puts where I have a big runner that I hold but use that for protection to preserve some profits-- kind of like a strangle. I dabbled in more exotic strategies but that doesn't really square with my predilection for disappearing for weeks at a time to go skiing as those strategies require constant baby sittting imo

For the buy and hold "boring" port I do occasionally use LEAPs. Eg i have TTD stock but also leaps.

Yeah, i sell puts on stocks that i would like to own anyway, typically 2 years out.

My thinking is that short dated options are purely speculative, since anything could happen in the short term.

Long dated, you can look at fundamentals and i think it qualifies as an investment.

Nothing wrong with speculating, but it's a hard way to make money.

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[BobMc]

My thinking is that short dated options are purely speculative, since anything could happen in the short term.

Isn’t that kinda the point?

Edit: I think it’s a play on that something will happen, and it usually does. If you’re careful you can be on the right side of that something more than on the other. Sell the call, sit back and wait for the fluctuation that will come. Grab some cash and repeat.

[BobMc]

Just to clarify, lately I’ve been looking back at my orders and how I missed them and how they did afterwards. I’ve found that I could’ve made more cash by pricing my orders a bit lower, but I’m still not ready to realize that cash. I keep trying to remember that I could lose with any of these options, I think that keeps me a bit careful.

I think with a pretty disciplined approach one can make a fair bit of cash using the tactics I’ve learned from folks here.

[LeeLau]

BSQR and MRIN both self-destructed. I was one day early on the MRIN short sell but in that game timing is everything.

BSQR had options and would have been a protectable short but I was in bad headspace after the MRIN spanking so didn't hit it. C'est la vie.

Sold more RIOT weekly calls to keep the income flowing

[BobMc]

Closed my BBBY and CCL calls today. I’d sold my CC on BBBY the day it mooned a month ago or so, sold a $28 strike for $500 expiry July 9. I always knew when I sold it quarterly earnings were being released on June 30 and I was hoping for a dip, but if that didn’t happen I was ok with being assigned. I was leaving to go to SFB fish camp the morning earnings were released. Before I left I watched the underlying go up $7.00.

Luckily over the next two trading days and today it fell back down to under $30 for a few minutes today. I was able to buy and close at $199. I was real close to keeping it and seeing if it’d dip below my strike but hit while the iron was hot. Same thing with CCL, sold it for $325 on 5/25 and bought back today at $99. Both of them right around 70%.

I’ve been torn about letting them assign and moving the cash into high dividends, but it’s hard to turn down easy cash selling calls on them. By selling calls twice on each of them I’ve moved my per share cost down pretty well, I’m in my 100 BBBY shares at $2.49/per and my CCL at $9.49/per.

I’ll probably give things a few days to recover on today’s swoons before I sell any more calls. Been doing some reading to figure out the put side to sell low and buy high, be able to take advantages of both bears and bulls.

This whole story kinda plays into Rod’s speculative comment and my reply. Things did happen, it mooned and I could’ve panicked. But with a little patience the other side of the coin came about. If you pay attention and watch shit you should come out ahead over the long run.

[CovertM]

https://www.collaborativefund.com/blog/$/

Good read for the Meme Blood bath so far today.

Been traveling/camping a bit and left things on autopilot recently. Looking to close some CC today. Added to ATOS position on drops to low 5s.

Why didn't anyone drop the hint on NEGG in here? Jeez!

[BobMc]

Account has been mainly backwards to sideways the last couple weeks.

Set a limit order to sell $30 CC on BBBY for $5.00, Oct 15 expiry. Same price I got on $28 call a month ago and pocketed $299+. I think the underlying will move upwards in the near future, but after selling two calls on it already I’m down to get out of it. Don’t get me wrong, I’ll move to take profit at any time it feels feasible.

I’m still ready to move any non dividend stuff into EPD, the yield is hard to turn away, especially with the safety of it.

Anyone still feeling the “fundamentals” of GME? I’d be wondering if I’d bought in at $220.

[shera]

I swing traded GME until I got myself in good position (about $20/share) and I have a comfortable weighting in my little IRA, so I don't feel any urge to sell at this time. I have some sell orders in place on the chance we get up into the stratosphere. For me this is a fun stock and I hope to hodl and see what happens.

My issue is with my COIN position. After averaging down I am finally close to breakeven with the recent gains. It's been a pita honestly and I don't quite understand where it fits into my portfolio scheme. Plus averaging down got me uncomfortable with my weighting - I had to keep buying the dips.

If it's correlated to btc I don't need it. I thought it might act as a hedge somehow, but maybe trad is using it as a proxy so that doesn't really work. I think I was overthinking?

[m2711c]

Why didn't anyone drop the hint on NEGG in here? Jeez!

what the fuck was that?

[4matic]

I swing traded GME until I got myself in good position (about $20/share) and I have a comfortable weighting in my little IRA, so I don't feel any urge to sell at this time. I have some sell orders in place on the chance we get up into the stratosphere. For me this is a fun stock and I hope to hodl and see what happens.

My issue is with my COIN position. After averaging down I am finally close to breakeven with the recent gains. It's been a pita honestly and I don't quite understand where it fits into my portfolio scheme. Plus averaging down got me uncomfortable with my weighting - I had to keep buying the dips.

If it's correlated to btc I don't need it. I thought it might act as a hedge somehow, but maybe trad is using it as a proxy so that doesn't really work. I think I was overthinking?

COIN has first earnings report soon. Typically 1st earnings reports after ipo are bte so you might get an exit opportunity if you want it.

[BobMc]

My limit order filled ten minutes after opening, by the time I got to work it was down to $4.10. Set a limit buy to close at $4.00 and it filled within an hour. Gotta love making a hundred bucks in an hour and a half, for not doing much. (Well, $98.68 after commission.)

My son and I loaded and unloaded 6000 pounds of scrap for $474 this morning after I made the hundy. The hundy was a lot easier money. I divide the scrap money between my guys and I, left me with $94. Combined with my $98 from the option trade I’m gonna set a limit order for 8 shares of EPD at $24. Keep on boosting that monthly dividend income.

[CovertM]

what the fuck was that?

Not sure, didn't dive into it. ZeroHedge had something about a gamma play on one of the july $40 calls. Can't/Won't find it because he/she puts shit up every 30 minutes.

There has been a serious P&D every day for the last couple weeks that is drawing more and more attention. I even started an experiment of reading r/pennystocks and looking to see what ticker (XELA, CRTD, CARV, OSAT, etc.) will be mooning in pre-market, buy a chunk at premarket and set a sell order at 100%. So far I'm up, fucking gambling.

ATOS play is still going well, haven't taken profits yet. Waiting for the real SquEEZe to happen!

[CovertM]

My limit order filled ten minutes after opening, by the time I got to work it was down to $4.10. Set a limit buy to close at $4.00 and it filled within an hour. Gotta love making a hundred bucks in an hour and a half, for not doing much. (Well, $98.68 after commission.)

My son and I loaded and unloaded 6000 pounds of scrap for $474 this morning after I made the hundy. The hundy was a lot easier money. I divide the scrap money between my guys and I, left me with $94. Combined with my $98 from the option trade I’m gonna set a limit order for 8 shares of EPD at $24. Keep on boosting that monthly dividend income.

Good shit Bob! Keep it up.

You buying more XOM on the dips?

[BobMc]

Good shit Bob! Keep it up.

You buying more XOM on the dips?

No, I’ve got a sizable (for me) position on it already. 310 shares at an average of $40.85/per. It’s 29% of my portfolio. I’m pretty happy with the number of shares I’ll grab each year with dividend reinvestment. Lately I’ve been moving my money into high yield midstreams, EPD being my favorite.

Keeping BBBY and a few low yielding stocks memerly for the memeness of it all. If I could afford some GME I’d be on it, .

[shera]

Yeah, I read it's Thursday. Maybe I just need a little rebalancing and to have some more dry powder. A little profit would be nice after the nuisance level of buying COIN at listing. Lesson learned.

[paulster2626]

If I could afford some GME I’d be on it, .

All you'll need is 1 share.

[pureantigravity]

Just bought into the cruise lines industry. Very small buy with big upside. #recovery
Carnival, Norwegian, Royal Caribbean.
Might have to hold a few years.
All those rooms have AC and/or fresh cool sea air. Combine that with the fact that a lot of seniors (growing population) are cruise junkies ... and love late night buffets on boats.
Winner winner chicken dinner!
(I'm already under water not even 10 minutes after the buys! )

[Timberridge]

Hold on to your hats.

[4matic]

10y filled a gap at 1.2180 from Feb 12

[californiagrown]

Well i am getting shellacked. Blood everywhere in my account right now and im down big... except good ol Costco. Just plugging along up another 1%.

Ever since SeekingAlpha went paid subscription ive been trading a lot less. Cant say ive been doing worse or better, but i sure have enjoyed it a lot less. I used to really enjoy reading the articles, both from a greed perspective, but also because i found the non-quantitative analysis and hypothesis really interesting.

[gravitylover]

Having a bang up day today

[CovertM]

Hold on to your hats.

I think the preferred nomenclature is... "Hold onto your butts"

[4matic]

XOM has February 12 gap just like 10y note. Inverse relationship is puzzling?