BREwmaster said:

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how long are you riding the AMD 60c train? I sold 3 out of my 4, figure I'll ride the 4th

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I want to see what they do tomorrow with NVDA reporting tomorrow.

cisgenderedAggie said:

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Dobre casy said:

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cisgenderedAggie said:

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oldarmy1 said:

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Not sure how many of you have access or comfort level with shorting against calls but if you hold BJ call options into earnings you need to be up and at your computer ahead of earnings. If you get a major spike say $35+ then when you see it topping you short against your $30 Puts. Two reasons. The calls will lose premium value built up in earnings at the open tomorrow. Secondly you lock in $5+ gains on some or all for a nice win. I hardly ever carry a naked call into earnings and do not short a good portion of equivalent shares on a pop.

For beginners, a call gives you the right (the option) to buy BJ at $30/share. So if BJ is at $35, say, then you can short it and then use your call option to buy the shares at $30. BUT, no need to do so if the stock comes back down. In fact, I will sell the call on the open if the shares shorted are up $1+ over my short entry.

Looks like this. Say BJ opens at $34 after a $35 spike.

$30 Call opens at $4 in the money plus there would be maybe $0.40 premium so sell calls for $4.40 at the open. Now you have a short position up $1 and can cover if you see $35, or cover for an extra $1 and be done. But if you get some more downside then you are in command. You must have a good system and you must be deliberate for all of these strategies.

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Want to try, but not sure I'm clear. You are saying to do this?

- am already long $30c today
- at open, if BJ spikes, STO $30c? This leaves me with an open long and an open short, but not a 0 position.

Wouldn't that be the same as sell to close?

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Holding long $30 call

BJ spikes to $35 overnight, sell equivalent shares (100) short at $35.

BJ opens at $34, sell Long $30 calls to close for $4.40. At this time, short is up $1.

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Assuming earnings are good, I'm going to give this a shot tomorrow, but I want to ask for second opinion on my understanding.

I have 2 6/19 $30 BJs at $1.60 per contract. Tomorrow morning, if it gaps up on earnings, I will enter a pre-market considerably order to short 100 shares.. once trading starts, we watch for direction and take action.

- if the price falls during the day, I look to close the short position for at least $1 per share gain.
-if the price advances, I look to close the short at a loss of no greater than what one call can cover, then sell the other for gain.
- if the price skyrockets (theoretical), I can always exercise one early to close the short, then sell the other for gain.

If there's no jump on earnings, I do nothing for now.

My concern is that I'm not seeing where this loses money, and that worries me. Am I missing something?

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All this talk about BJ's .....

Yeah, I started to short around Model T and after taking a beating, im back this week trying to ride coat tails of pros here. Ironically it's the left hyping up the virus and trying to crash economy that led to such an unprecedented Fed response and rally. The more this becomes "economic warfare" with China, the more unlikely QE subsides. I hope to God for future generations the USD stays at top of food chain.

Oh and I'm also holding LK @ 5.40

Trump Twitter fingers dropping the futures

He's really mad at the China

bring on the bottom of the box lol

gougler08 said:

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IrishTxAggie said:

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Orlando news is still running with an announcement tomorrow...will be interesting to watch

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There is talk of them resuming basketball there.

Nba hosting location in order of current nba preference is Disney Orlando>Houston>las Vegas. Disney is the huge favorite though

Not to worry. That magic daily 3AM gap up will solve everything.

Why Houston?

E said:

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gvine07 said:

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Why Houston?

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Highest strip clubs per capita

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which ones are best? #asking4afriend

gig em 02 said:

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McInnis 03 said:

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He's really mad at the China

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They've been hitting twitter hard with fake accounts. I bet they spend hundreds of millions trying to influence the election, especially considering their connections with the Bidens. Can't say I blame them, they would be way better off with biden in charge. The US would be in a terrible place and china would run the world.

Its not politics, its just the truth.

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fark china

Been there many times.

ETA: I second your recommendation

For all you Darvas Box people.. are you seeing MSFT as one that is about to break out of the box?

Aggies1322 said:

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For all you Darvas Box people.. are you seeing MSFT as one that is about to break out of the box?

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A lot of people think it will happen next week. These were just from yesterday.

Do they have a nice confession booth?

There seems to be more and more sentiment here that this thing is gonna crash down again soon and I used to be in that camp but not really anymore. I think we'll continue to go up and down but the up days will be bigger than the down.

I know unemployment is horrible but the majority of those are making more money than they were (my wife was one, she went back to work Monday). Where I live you can barely tell there was any type of pandemic it's business as usual.

Numbers seem to be getting better and if things get worse and the market falls the fed and congress will be there to pump it again. Maybe I'm being naive now

CLSK up 40% PM

Lol this is not helping to break my habit of playing earnings lottos

IrishTxAggie said:

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Trump Twitter fingers dropping the futures

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Slowly rallying this morning...unemployment should be interesting soon

Do you think AZN will be a big mover with this news?

Prognightmare said:

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So for shorting the stock premarket, would you leave a limit order hanging out there at a high price or wait and watch the candles?

tam2002 said:

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There seems to be more and more sentiment here that this thing is gonna crash down again soon and I used to be in that camp but not really anymore. I think we'll continue to go up and down but the up days will be bigger than the down.

I know unemployment is horrible but the majority of those are making more money than they were (my wife was one, she went back to work Monday). Where I live you can barely tell there was any type of pandemic it's business as usual.

Numbers seem to be getting better and if things get worse and the market falls the fed and congress will be there to pump it again. Maybe I'm being naive now

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your wife lost her job and you aren't changing any spending habits?

gig em 02 said:

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tam2002 said:

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There seems to be more and more sentiment here that this thing is gonna crash down again soon and I used to be in that camp but not really anymore. I think we'll continue to go up and down but the up days will be bigger than the down.

I know unemployment is horrible but the majority of those are making more money than they were (my wife was one, she went back to work Monday). Where I live you can barely tell there was any type of pandemic it's business as usual.

Numbers seem to be getting better and if things get worse and the market falls the fed and congress will be there to pump it again. Maybe I'm being naive now

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your wife lost her job and you aren't changing any spending habits?

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Not to mention people thinking, "the fed and Congress pumping it", does anything other than create a bubble. My friends are convinced the market is in good shape because "the fed held it up long enough".

Don't be surprised if more Chinese companies start thinking this way so they can hide their funny business accounting

Keep an eye on the names on this list and I would give strong consideration before playing any Chinese stocks for awhile
https://www.uscc.gov/sites/default/files/Chinese%20Companies%20on%20U.S.%20Stock%20Exchanges.pdf

Aggies1322 said:

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gig em 02 said:

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tam2002 said:

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There seems to be more and more sentiment here that this thing is gonna crash down again soon and I used to be in that camp but not really anymore. I think we'll continue to go up and down but the up days will be bigger than the down.

I know unemployment is horrible but the majority of those are making more money than they were (my wife was one, she went back to work Monday). Where I live you can barely tell there was any type of pandemic it's business as usual.

Numbers seem to be getting better and if things get worse and the market falls the fed and congress will be there to pump it again. Maybe I'm being naive now

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your wife lost her job and you aren't changing any spending habits?

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Not to mention people thinking, "the fed and Congress pumping it", does anything other than create a bubble. My friends are convinced the market is in good shape because "the fed held it up long enough".

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I'm not going to fight the fed. I have an account where I trade, but I know it's something I have control and can sell anytime. I do know my wife is close to losing her job and we have a family situation such that I have a much higher % in cash and bonds now. I don't like it, but I'd rather be safer at the moment than miss out on some gains in various funds.

We have definitely changed our habits and in savings mode... so far so good cutting spending in half.

Which one do you like most today?