Don't look now but TSN is looking like its about to break from the lengthy bad news consolidation. Right at last 10 days highs.

They report in 5 days

Bought shares and sold calls. I'll take it

oldarmy1 said:

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CHNG is on a well defined steady trend move. Look at that daily chart.

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OA - I'm enjoying the October '20 $10.00 calls I picked up several weeks ago when you mentioned CHNG.

Any thoughts on GNUS? I haven't had much luck selling covered calls for the shares I picked up (sold about 10% CCs so far), and I'm not willing to sell them at current levels.

Aggie09Derek said:

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Anyone know a way to write off losses on stocks where the stock is no longer tradeable?

I have a couple positions where the stock is almost at 0 and it won't allow trades (through TDA).

Can I just simply add losses to my investment net end of year even though I still own shares that are worthless? I guess one way would be to transfer the shares out of my account to someone elses who buys them for nothing.

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smooth market functioning = not let stocks and bond prices fall.

yukmonkey said:

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Thoughts on CATM? They tend to pop bigly after earnings, and they are set up next week (Aug 6). Was around 45 before pandemic.

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Aggie09Derek said:

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Aggie09Derek said:

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Anyone know a way to write off losses on stocks where the stock is no longer tradeable?

I have a couple positions where the stock is almost at 0 and it won't allow trades (through TDA).

Can I just simply add losses to my investment net end of year even though I still own shares that are worthless? I guess one way would be to transfer the shares out of my account to someone elses who buys them for nothing.

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From Zacks: Your capital loss typically equals the stock's adjusted basis minus its sale price. The adjusted basis normally equals the price you paid for the stock plus any other amounts you had to pay to purchase the stock, such as broker's fees. If you cannot sell your stock because it is worthless, the IRS allows you assign a sale price of zero and use this figure to calculate your capital loss. If you sold your stock for pennies, on the other hand, you should use the actual sale price to calculate your loss. To the IRS worthless stock is that which is actually worth $0, not close to $0.

*Subject to potential IRS limits

ETA: Prepare documentation that proves the stock is worthless and establishes the approximate date on which it became worthless. You don't have to submit this documentation with your tax return, but you will need it if the IRS audits you.

$30,000 Millionaire said:

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smooth market functioning = not let stocks and bond prices fall.

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You get an ATH!!!! and you get an ATH!!!! and you get an ATH!!! seems legit

gig em 02 said:

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$30,000 Millionaire said:

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smooth market functioning = not let stocks and bond prices fall.

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You get an ATH!!!! and you get an ATH!!!! and you get an ATH!!! seems legit

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is there any other interpretation?

Anyone want to guess Kodak price Friday at close? I'm going to say 12 bucks.

Profited 40% on SPY fly , SLV Is shooting up, bought and sold BYND calls for 20% today and got in Zom .16 and Snss .25 ! It's a good day !

Fireman said:

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oldarmy1 said:

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CHNG is on a well defined steady trend move. Look at that daily chart.

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OA - I'm enjoying the October '20 $10.00 calls I picked up several weeks ago when you mentioned CHNG.

Any thoughts on GNUS? I haven't had much luck selling covered calls for the shares I picked up (sold about 10% CCs so far), and I'm not willing to sell them at current levels.

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Don't know about GNUS breaking from the tight trend

UpstateAg said:

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Anyone want to guess Kodak price Friday at close? I'm going to say 12 bucks.

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35

yukmonkey said:

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UpstateAg said:

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Anyone want to guess Kodak price Friday at close? I'm going to say 12 bucks.

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35

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I'm calling $9.50.

vxx 30c for friday are like 40c. Cheap insurance

SpeedyAg90 said:

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Profited 40% on SPY fly , SLV Is shooting up, bought and sold BYND calls for 20% today and got in Zom .16 and Snss .25 ! It's a good day !

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SLV just dropped off a cliff!

****ing Powell. Come on man

Can anyone TLDR me on what happened there?

leoj said:

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****ing Powell. Come on man

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What did he do?

EDIT: @Jerome POWell

Nothing (literally to my knowledge)

No rate change

Something he said in the middle of his testimony was nefarious to Gold & Silver, and I didn't catch it, but boy the charts did.

I'd like to get the board's thoughts on Financial institutions. I'm thinking they are a bit overdue to see some growth during earnings season. I think this could be an underplayed sector that might see a quick pop like it did late May/early June. The little price volatility will also lower option premiums.

JPM, WFC, C all look like decent option plays, maybe more homeruns than smart likely payouts.
I think AX has earnings today. If they do well maybe that signals good things for the sector as a whole. At some point i feel like money has to rotate out of tech and into the financials. Maybe not.

During that spook fest I bought a SPX fly 3250/3260/3270c and since I had a 3265/3270/3275 put fly in already I figured I'm good up to 3275, let's not get crazy here SPX.

texagbeliever said:

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I'd like to get the board's thoughts on Financial institutions. I'm thinking they are a bit overdue to see some growth during earnings season. I think this could be an underplayed sector that might see a quick pop like it did late May/early June. The little price volatility will also lower option premiums.

JPM, WFC, C all look like decent option plays, maybe more homeruns than smart likely payouts.
I think AX has earnings today. If they do well maybe that signals good things for the sector as a whole. At some point i feel like money has to rotate out of tech and into the financials. Maybe not.

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I have the 55C 9/18 for C. I really like the way the squeeze is looking. Fair amount of Cheddar action on it as well.

oldarmy1 said:

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Orlando Ayala Cant Read said:

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I feel like ontx may make a big move after hours

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I think ONTX management has one more news release if needed for Day 10.

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Stocktwits posters specialize in delusions of grandeur. Some people throwing around $10pt over there. Is there anything implying even half that as a potential realistic pt?

Airlines taking a hit again today. Anyone have any sense of a bottom on one or more of those. Suspect at least one will fail, but the government won't let them all die. American is probably toast.

McInnis 03 said:

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Can anyone TLDR me on what happened there?

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made a comment about recovery slowing down

This guy on CNBC just said the Fed needs helicopter money and drop it on the economy. Dollar selling off, metals and materials are exploding (look at lumber) and an asset bubble in the market, but the fed needs to drop more money.

Got the 7.50 August 21 puts, I think it goes back from whence it came

I'd sell out the rest of KODK or at least write an in the money covered call