Any big earnings expected after the close?

Last strategy on SUM. I bought my daughter 1000 shares of SUM at $14.70. I want to hold 500 long term. So when it jumped I sold 5 Nov. $15 Calls at $1. That gives her $16.30 if called out on 500 shares OR a $0.50/share reduction ($14.20 net holding price) on the 1000 if we are still under $15.

Prognightmare said:

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Any big earnings expected after the close?

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Lot of regional banks. I'd be tempted to buy puts after seeing NTRS results.

I would be interested to know what the application of MNGA is to the Cannabais industry. They list that being a new growth (pun intended) support area. How? From the release:


The Company continued to experience improved sales in California, particularly in the agricultural cannabis sector and overall agricultural client base at the Company's northern California operations managed under the Trico Welding Supplies brand. The Company also saw steady growth in the San Diego market, where operations are managed under the Complete Welding brand. The Texas market continued to improve as new clients added during the quarter migrated their relationships away from several major competitors to Green Arc Supply. The Florida market also benefitted from the seasonal increased demand from several larger clients, including a major utility company in the Tampa market.
"Our sales team is making strong progress in the markets we serve," commented Ermanno Santilli, Chief Executive Officer of MagneGas. "Our California team is seeing strong sales growth right now. Our team has done an excellent job penetrating the rapidly growing cannabis market in California, and that is driving accelerated sales growth we're experiencing. Our operations in Texas continue to win many large new clients that are also driving accelerated sales growth. Florida is also transitioning to our seasonally busy period, as we serve our customers during their utility maintenance programs."
"We continue to make consistent steady progress is our sales growth objectives," commented Scott Mahoney, Chief Financial Officer of MagneGas. "We are executing well and preparing to deploy further resources in our best-performing target markets as we head into the seasonally busier part of the year. We remain confident that our growth strategy is delivering solid, sustainable growth for long-term success."

My understanding they sell lots of CO2 to growers who then in turn pump the CO2 (more pure(??) than what people exhale) into their grow houses for their plants.

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MagneGas has developed a technology that feeds liquid waste such as sewage or leachates through the Plasma-Arc Technology to sterilize any bacteria or pathogens. This process meets EPA standards to bring the liquid waste from a Class B waste to a safer Class A.

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I found this on their website, but my guess is they just want to ride the hype train.

Interesting.

The only thing I could think of is that cannabis grow houses have to be very clean. There are many harmful pathogens and bacteria that can damage and destroy crops quickly. There are regulations involved with what chemicals can enter those grow houses because of the medical market, e.g. if a weak cancer patient used cannabis that was tainted, it could be toxic, even deadly, for the patient.

In Canada, there are different 'grade' grow houses depending on what chemicals are allowed into the grow houses. Maybe in a roundabout way, there's a concern over what gases, welding or otherwise, are used to build up and operate these grow houses and a ton of them are being built with MGNA product in California. A quick look at MagneGas and it seems that their differentiation is being a cleaner solution. I could be off. It is definitely a stretch.

After writing all that out and speculating, I also found this on their site:

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It is also selling equipment for the sterilization of bio-contaminated liquid waste (such as pig manure or leachates) for various industrial and agricultural markets.

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Ducks4brkfast said:

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My understanding they sell lots of CO2 to growers who then in turn pump the CO2 (more pure(??) than what people exhale) into their grow houses for their plants.

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This. I guess TriCo Welding Supply was bought by MagneGas and they sell CO2 to a bunch of the NorCal pot farmers.

oldarmy1 said:

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Entered ROKU $61.50 at $1.12 will risk to $.90

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With the engulfing candle today, are you on puts or waiting for more confirmation?

https://www.cnbc.com/2018/10/17/marijuana-stocks-lose-ground-as-canada-ushers-in-a-new-era-of-legal-cannabis.html

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Popular marijuana stocks fell across the board Wednesday, paring extreme gains so far this year, as investors cashed in a bit of their bet as Canada became the largest country to legalize the recreational use of cannabis.

After months of political haggling and legal debate, Canada joined the U.S. states of California, Massachusetts, Maine, Alaska, Colorado, Washington and Oregon as the first Group of Seven country to OK adult use of pot. The major cannabis stocks ran up in anticipation of this day and offered investors on Wednesday a reminder of just how volatile some of the young pot companies have become amid a flurry of news and speculation.

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Quote:

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Medical marijuana company Tilray, whose stock has posted a meteoric rise on the Nasdaq since its initial U.S. offering in July, shed more than 6 percent Wednesday. Canopy Growth, another favorite in the space, lost 3.5 percent on the New York Stock Exchange. Tilray is up 750 percent from its IPO price of $17 while Canopy is up about 100 percent since mid-July.

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It's a good article with other stocks to follow for anyone interested in betting on pot stocks.

oldarmy1 said:

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Well lets call it a Cannabais sector stock and watch it blow up to $4,$5,$6 then.

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Just wait for me to buy 50k more shares!!

Musk doing Musk things....
https://www.cnbc.com/2018/10/17/elon-musk-intends-to-buy-20-million-of-tesla-stock.html

SN near 52w lows @ 2.26. Might be a good buying opportunity if they can turn things around.

I have some RRTS because of Elliot getting involved. It's been a rough few weeks...
AVEO and IMMP still hanging in there though. I also want to thank NFLX for making it easy to sell high premium covered calls on China stocks, then watch the sell-off!

Who's buying more RRTS?

UpstateAg said:

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I have some RRTS because of Elliot getting involved. It's been a rough few weeks...
AVEO and IMMP still hanging in there though. I also want to thank NFLX for making it easy to sell high premium covered calls on China stocks, then watch the sell-off!

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RRTS and BBOX both have to turn a corner soon.

ENPH using the bad day to make a move. Trying to run towards $5.25 resistance.

Sold 200 SUM Naked $12.50 PUTS for $0.30 just because with todays market pressure ot was a gimme for further share price reduction.

Markets testing opening mark. Watch for resistance here for a few minutes. We have a gap up at 2808 if it breaks here.

Bought Nov 16 FMC $87.50 strikes for $2.05

Seor Chang said:

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Who's buying more RRTS?

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Picked up a little more.

JD found a major support level as long as markets don't see new lows the $21.55 will be its reversal trend baseline.

While we can't predict when it breaks out of the sideways range between there and $25 you can buy with confidence below the mid range OR wait for $25 to be broken on volume. Longer term options at the $33.00 mark would be a good capital strategy.

Head and shoulders forming on intraday S&P.

Big volume sell for ROKU

Engulfing candles on both DOW and S&P forming. Hide yo children....hide your money!

My portfolio is taking a **** on me right now...

Wow. OA, when do we break support and potentially take a big ride down?

IrishTxAggie said:

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My portfolio is taking a **** on me right now...

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same.

oldarmy1 said:

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Engulfing candles on both DOW and S&P forming. Hide yo children....hide your money!

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Glad my calls expire tomorrow, will just be going puts for the foreseeable future

Last week was worse.

Bear flags everywhere. Not being able to accelerate yesterday after earnings on Tuesday AH really did us in

ROKU about to try that 56.90 or so resistance again, could get ugly if it breaks that

Ragoo said:

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IrishTxAggie said:

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Ragoo said:

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gougler08 said:

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When is earnings for ROKU?

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mid November iirc

11/14

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Think I'll be taking some hard looks at ROKU calls tomorrow

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all for the 11/16 strike
sell the $60 put
Sell the $80 Call
Buy the $85 call

Pocket $5.01 credit with a break even at $55.

Required $5,000 in buying power.

edit: this is called a Jade Lizard.

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Do you do Jade Lizards often? What is your thought when entering those trades? My most frequent trade is a vertical, but adding the additional layer to collect additional premium at a price where the stock would be beat down pretty good, with long-term potential to the upside if the option is exercised is something I may consider looking at more. The biggest downside is that it can eat up all my buying power.

khkman22 said:

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Ragoo said:

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IrishTxAggie said:

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Ragoo said:

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gougler08 said:

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When is earnings for ROKU?

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mid November iirc

11/14

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Think I'll be taking some hard looks at ROKU calls tomorrow

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all for the 11/16 strike
sell the $60 put
Sell the $80 Call
Buy the $85 call

Pocket $5.01 credit with a break even at $55.

Required $5,000 in buying power.

edit: this is called a Jade Lizard.

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Do you do Jade Lizards often? What is your thought when entering those trades? My most frequent trade is a vertical, but adding the additional layer to collect additional premium at a price where the stock would be beat down pretty good, with long-term potential to the upside if the option is exercised is something I may consider looking at more. The biggest downside is that it can eat up all my buying power.

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i currently have not. Selling the put and taking on the extra BP reduction is a big issue.

I am working my way out of a low level trading account and into a higher level so I can enter into spreads, etc.