E said:

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Should we look into buying SUM now or wait for it to go down a little more?

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Anywhere around this $14 level will make you happy in July IMO

Remember the magnet rule works both ways. A stock moving lower under $20 gets within 10 cents of a big round number it generally flashes below that number, so $14 with flash below it becomes likely. But we're straining nats if this is a longer term entry you are looking for holding.

For day traders a stock like JD is on that watch to lose $22 and a flash entry on the stock or options would be the trade.

I closed my NFLX covered call on the quick 50% drop in premium. Wow things are moving quick.

oldarmy1 said:

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E said:

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Should we look into buying SUM now or wait for it to go down a little more?

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Anywhere around this $14 level will make you happy in July IMO

Remember the magnet rule works both ways. A stock moving lower under $20 gets within 10 cents of a big round number it generally flashes below that number, so $14 with flash below it becomes likely. But we're straining nats if this is a longer term entry you are looking for holding.

For day traders a stock like JD is on that watch to lose $22 and a flash entry on the stock or options would be the trade.

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Great, thanks for the info! I'm more of a buy and hold for a few months, i'm new to the whole stocks thing.

out nflx puts at 4.6, did exactly what I wanted.
out IBM puts at .72, just not doing what I wanted...too much sideways.

badharambe said:

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out nflx puts at 4.6, did exactly what I wanted.
out IBM puts at .72, just not doing what I wanted...too much sideways.

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One could do worse than to buy these stocks when posting exiting covered calls. Amirite? NFLX was flashing below $323 at $322.70 when posting the covered call exit and now above $324.50

SUM magnet move taking it below $14. Markets continue repeating h patterns so where it bottoms is hard to say. If I were looking to enter it right now I would sell a $15 naked Put for $1.40 giving you a net $13.60 entry on half of what you would eventually be good with holding long and then see if markets really melt for the other half.

Understasnd that if SUM trades above $15 on expiration you will only make the $140 per call profit and not own the shares. That said, you could turn around and buy the same number of shares represented at any time knowing that you have a sweet $1.40 per share savings.

Quite the reversal on the markets. We are still above yesterdays lows, for now.

CX took a small dive this AM. I don't see any real reasons.

Any idea why I shouldn't add some more at this dip?

oldarmy1 said:

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IrishTxAggie said:

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Sold all my $22.5 weeklies when it popped to $.4. I've burned myself on options not being more didciplined and trying to turn a new leaf.

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Daily award winner for non-greedy decision making goes to IrishTXAggie. I held mine and received an added whopping 3 cents but if the selloff had hit before that last push upward I would have been exiting well below 40 cents chasing the bid.

Well done!

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I watched it go to .4 and thought "I can get just a little more", then it went down. Then I set a limit sell of .33 and got it, thinking "well, I got a little at least". Then I watched in anguish as it went up to .43.

One of these days I'll get a hang of it. I'm still hanging on to SPOT calls cause I was dumb and didn't sell when I had a chance.

MNGA with some volume noise. One of the top Zach's performers has listed it as his pick with a $1.50 target. I've got over a million reasons why I like the thought of that!

WestTexAg12 said:

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oldarmy1 said:

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IrishTxAggie said:

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Sold all my $22.5 weeklies when it popped to $.4. I've burned myself on options not being more didciplined and trying to turn a new leaf.

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Daily award winner for non-greedy decision making goes to IrishTXAggie. I held mine and received an added whopping 3 cents but if the selloff had hit before that last push upward I would have been exiting well below 40 cents chasing the bid.

Well done!

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I watched it go to .4 and thought "I can get just a little more", then it went down. Then I set a limit sell of .33 and got it, thinking "well, I got a little at least". Then I watched in anguish as it went up to .43.

One of these days I'll get a hang of it. I'm still hanging on to SPOT calls cause I was dumb and didn't sell when I had a chance.

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Yeah when I posted exiting on SPOT when it goes green know that I'm hitting the exit button. I have bought back SPOT calls Feb 1 $135 strikes an hour ago.

oldarmy1 said:

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MNGA with some volume noise. One of the top Zach's performers has listed it as his pick with a $1.50 target. I've got over a million reasons why I like the thought of that!

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Holy crap! Early retirement plan?

I have 15,000 shares at .22 and thought that was a lot lol

Although there is a RS soon so that has me worried

Yeah, at this point it's sell extra shares on any decent pop and reload under 18 cents until we see what the reverse split looks like. I also hope it has options in tandem with the reverse split for added flexibility and protections.

From that bottom after last h was rejected we've had 5 n's. General rule on 5 n patterns is that it becomes an inflection point. Key not to see a breakdown below 2620 intraday from here.

oldarmy1 said:

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Yeah, at this point it's sell extra shares on any decent pop and reload under 18 cents until we see what the reverse split looks like. I also hope it has options in tandem with the reverse split for added flexibility and protections.

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By that do you mean buy more once it get back to .18 to average down? Or sell if it goes up a bunch soon, then buy back in after RS?

Man I feel like I owe you a nice beer with all you've done on this thread!

Selling JD $22.50 above 40 cents and buying them back at 15 cents. Will either end up making 2 cents net on the two trades or make the week even more enjoyable.

E said:

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oldarmy1 said:

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Yeah, at this point it's sell extra shares on any decent pop and reload under 18 cents until we see what the reverse split looks like. I also hope it has options in tandem with the reverse split for added flexibility and protections.

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By that do you mean buy more once it get back to .18 to average down? Or sell if it goes up a bunch soon, then buy back in after RS?

Man I feel like I owe you a nice beer with all you've done on this thread!

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I buy up to 200k shares below 18 cents and sell them at 25 cents while waiting around. And if we get a flash down like we did at the 14 cent mark I doubled it (but sold those at 20 cents).

It's impossible to know how the stock will react to the RS announcement but odds are it would trade down. However, I've seen stocks rally on that for all kinds of reasons. But I'd still keep doing my approach on flash downs because the stock trades big volumes and has a lot of eyes on it long term.

In at $1.52.

khkman22 said:

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In at $1.52.

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Which one?

oldarmy1 said:

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khkman22 said:

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In at $1.52.

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Which one?

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Sold SUM 2/15 $15 put

khkman22 said:

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oldarmy1 said:

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khkman22 said:

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In at $1.52.

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Which one?

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Sold SUM 2/15 $15 put

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Wow...now that is some excellent patience on a stock having a down day. Hats off to you for 12 more cents/share cover!

Bought Feb 15 $67 Strikes on CSX

oldarmy1 said:

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Bought Feb 15 $67 Strikes on CSX

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I'm not letting these go for less than $1.90 for anyone who followed.

So I'm guessing you think $0.91 is still a good value or did I miss the boat?

kylewhitener said:

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So I'm guessing you think $0.91 is still a good value or did I miss the boat?

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Still good value....if buying place bid at 85 cents see if it fills

khkman22 said:

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oldarmy1 said:

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khkman22 said:

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In at $1.52.

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Which one?

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Sold SUM 2/15 $15 put

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You bought the bottom. Hate it when that happens.

oldarmy1 said:

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khkman22 said:

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oldarmy1 said:

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khkman22 said:

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In at $1.52.

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Which one?

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Sold SUM 2/15 $15 put

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You bought the bottom. Hate it when that happens.

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I've got skills.

Thanks! Got in at $0.90

Oops didn't see your edit. Oh well

I'm starting to believe you guys on the Cramer curse.

JD having struggles getting above $22, not moving upward as market has pushed higher.

kylewhitener said:

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Thanks! Got in at $0.90

Oops didn't see your edit. Oh well

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Stop is set at 62 cents - fyi

NEVER ride options to zero...only ones that I ever let that happen is my end of week cheap weekly option speculations that cost under a dime.

Irish, any news on AVEO? Suggest buying on this dip?

oldarmy1 said:

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Bought Feb 15 $67 Strikes on CSX

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Wow did you just see that spike!!!

Purchased some SUM earlier and has me at +$10 total for the day! Haha, my only positive out of the bunch

tramaro1 said:

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oldarmy1 said:

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Bought Feb 15 $67 Strikes on CSX

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Wow did you just see that spike!!!

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That's what we like to see!