McInnis 03 said:

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Take it to F16 boys.

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We can't talk about fiscal policies even? If so, harp on all the people who call the end of the world more too.

McInnis 03 said:

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Minneapolis fed chair is trying to scare the snot out of the markets. Buy the friday close has been the trend for weeks.

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Dammit, I missed it! I was trying to wait until the end to see how cheap I could get 8/21 calls and it bounced back up.

khaos288 said:

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McInnis 03 said:

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Take it to F16 boys.

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We can't talk about fiscal policies even? If so, harp on all the people who call the end of the world more too.

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I can't stop you, but I can suggest.

I've seen lots of chatter around QD lately. Their Q2 earnings are in a week. Expected to be favorable?

Maxine Waters came on CNBC ranting which took the markets to LOD and after the interview ended, the market rebounded

McInnis 03 said:

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khaos288 said:

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McInnis 03 said:

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Take it to F16 boys.

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We can't talk about fiscal policies even? If so, harp on all the people who call the end of the world more too.

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I can't stop you, but I can suggest.

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I'm not here to ruffle feathers. Just trying to save people money by not letting doomsadayers get out of hand.

A decent hedge position is a good suggestion. I wouldn't go 100% cash and by spy puts with every pay check though.

jet99 said:

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Interested in thoughts on TTOO, I'm in with a few covered calls expiring in Aug and most in Nov. Is there a catalyst for retesting highs? I worry that the COVID testing may have run the course for high expectations.

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My concerns as well with many of these bios. I may look to exit my TTOO lots covering August calls when those expire. I'll have to see.

Love ya, but if Biden wins we can revisit this post.

TriumphForks said:

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I've seen lots of chatter around QD lately. Their Q2 earnings are in a week. Expected to be favorable?

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OA feels good about em.

Completely agree!

McInnis 03 said:

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Minneapolis fed chair is trying to scare the snot out of the markets. Buy the friday close has been the trend for weeks.

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I hope y'all bought calls at about 2:48pm!

McInnis 03 said:

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Take it to F16 boys.

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If you don't believe this election will impact the markets, especially with traders, then I don't know what to say.

I'll go back to F16 but y'all better have hedges in if Dems sweep.

I think we all understand that and are ok to some extent talking about it. The back and forth on moderate vs liberal just was taking up too much traffic and wasnt helping with 10 minutes before market close. I could just be off base.

Enjoy both of your inputs. I've learned a lot and have enjoyed both of of your company.

Bob Knights Liver said:

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jet99 said:

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Interested in thoughts on TTOO, I'm in with a few covered calls expiring in Aug and most in Nov. Is there a catalyst for retesting highs? I worry that the COVID testing may have run the course for high expectations.

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My concerns as well with many of these bios. I may look to exit my TTOO lots covering August calls when those expire. I'll have to see.

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I've been unwinding 11/21 covered calls and then selling the underlying shares. I should still be up a decent chunk, but not as much as I had hoped. It seems the FDA is not interested in approving their test (or is just being extraordinarily slow), which hinders getting it out to hospitals even if they can currently sell the tests under that emergency use thing.

I've now unwound and sold about 40% of the total shares I purchased a couple months ago. Maybe it'll still pop, but I don't have a lot of faith left after they beat earnings and dropped 25%.

Ragoo said:

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Just put on my first fly
TSLA 1660p/1645p/1630p 8/14

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Curious how you made out here? When you bought it it was about $5, yes? I figured you potentially got 50-60% out of it?

Exsurge i think your Callaway suggestion has become my favorite stock to trade. Bought back covered calls today that i think I've sold 5 or 6 times, and I'm up $2 or so on the underlying shares, that i got assigned after selling puts a couple times. Absolute cash cow for me.
Edit: looks like he hasn't posted since june. Rona or band? New username? Just blink twice if it's you, lol...

ONTX dropping nicely after hours for anyone who missed the drop earlier.

Maybe...

McInnis 03 said:

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Ragoo said:

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Just put on my first fly
TSLA 1660p/1645p/1630p 8/14

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Curious how you made out here? When you bought it it was about $5, yes? I figured you potentially got 50-60% out of it?

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Didn't have time today to post but yesterday I took interest in that TSLA fly you posted1640/16/90/1740 so bought 4 and sold them first thing this morning for 80%. You definitely earned the right to the name McFly l

SpeedyAg90 said:

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McInnis 03 said:

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Ragoo said:

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Just put on my first fly
TSLA 1660p/1645p/1630p 8/14

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Curious how you made out here? When you bought it it was about $5, yes? I figured you potentially got 50-60% out of it?

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Didn't have time today to post but yesterday I took interest in that TSLA fly you posted1640/16/90/1740 so bought 4 and sold them first thing this morning for 80%. You definitely earned the right to the name McFly l

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Will add though that I have been waiting closer to closing to buy my flys lately

SpeedyAg90 said:

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McInnis 03 said:

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Ragoo said:

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Just put on my first fly
TSLA 1660p/1645p/1630p 8/14

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Curious how you made out here? When you bought it it was about $5, yes? I figured you potentially got 50-60% out of it?

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Didn't have time today to post but yesterday I took interest in that TSLA fly you posted1640/16/90/1740 so bought 4 and sold them first thing this morning for 80%. You definitely earned the right to the name McFly l

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That wasn't me, but nice work!

McInnis 03 said:

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Ragoo said:

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Just put on my first fly
TSLA 1660p/1645p/1630p 8/14

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Curious how you made out here? When you bought it it was about $5, yes? I figured you potentially got 50-60% out of it?

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put it on for $4.50

When testla dropped to 1638 or so Fidelity closed the 1660 and 1645 for about $250 profit.

I closed the $1630 for $800 at 1628.

So not max profit but slightly better than a double. If I hadn't been watching fidelity would have f-Ed me.

Ragoo said:

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McInnis 03 said:

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Ragoo said:

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Just put on my first fly
TSLA 1660p/1645p/1630p 8/14

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Curious how you made out here? When you bought it it was about $5, yes? I figured you potentially got 50-60% out of it?

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put it on for $4.50

When testla dropped to 1638 or so Fidelity closed the 1660 and 1645 for about $250 profit.

I closed the $1630 for $800 at 1628.

So not max profit but slightly better than a double. If I hadn't been watching fidelity would have f-Ed me.

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Max profit on a fly is a golden goose. It basically doesn't exist. The goal is to get good returns though

Fireman said:

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McInnis 03 said:

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Here she goes! $TSLA

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Lets Go! 1640/1690/1740 fly bought Wed.

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Here's where it was, Fireman, did this work for you too?

Is there a strategy to sell a straddle on a holding?

Say you had 200 shares of something at 18$ and sold a 17$ put, and a 19$ call. You guarantee yourself the premium from the put and call, and you can only get assigned one. It's obviously pretty neutral, and I'm hoping to just hold for premium gains and collect dividends.

Am I missing the downside? Stock goes way down, you would lose money, but at least collect the call premium. Stock goes way up, you collect put premium, gains on half your shares, and the gain up to the call price.

McInnis 03 said:

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Ragoo said:

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McInnis 03 said:

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Ragoo said:

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Just put on my first fly
TSLA 1660p/1645p/1630p 8/14

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Curious how you made out here? When you bought it it was about $5, yes? I figured you potentially got 50-60% out of it?

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put it on for $4.50

When testla dropped to 1638 or so Fidelity closed the 1660 and 1645 for about $250 profit.

I closed the $1630 for $800 at 1628.

So not max profit but slightly better than a double. If I hadn't been watching fidelity would have f-Ed me.

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Max profit on a fly is a golden goose. It basically doesn't exist. The goal is to get good returns though

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understood. My beef is that if I hadn't been watching and noticed Fidelity closed those puts but not the 1630. The 1630 would have closed worthless and I lost money when had they not the fly would have close $1000 for a $550 profit.

khaos288 said:

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Is there a strategy to sell a straddle on a holding?

Say you had 200 shares of something at 18$ and sold a 17$ put, and a 19$ call. You guarantee yourself the premium from the put and call, and you can only get assigned one. It's obviously pretty neutral, and I'm hoping to just hold for premium gains and collect dividends.

Am I missing the downside? Stock goes way down, you would lose money, but at least collect the call premium. Stock goes way up, you collect put premium, gains on half your shares, and the gain up to the call price.

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If it goes way down, you get assigned at the strike so you could have 200 shares that you lost money on, plus another 100 shares at the price you sold the put at? Your hit is indeed minimized by the call premium though and the put premium so if you got $1 for each your burdened cost is reduced by $2......

I guess worst case is now having 300 shares and you're in the red on all of them?

McInnis 03 said:

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Fireman said:

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McInnis 03 said:

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Here she goes! $TSLA

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Lets Go! 1640/1690/1740 fly bought Wed.

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Here's where it was, Fireman, did this work for you too?

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Yes - I did really well. Bought for $250 and sold mid-day today net credit of $1,350 or $1,100 gain per fly.

Looked like TSLA would run following their split news, similar to AAPL. Glad the plan came together. My fly apprenticeship continues.

Fireman said:

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McInnis 03 said:

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Fireman said:

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McInnis 03 said:

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Here she goes! $TSLA

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Lets Go! 1640/1690/1740 fly bought Wed.

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Here's where it was, Fireman, did this work for you too?

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Yes - I did really well. Bought for $250 and sold mid-day today net credit of $1,350 or $1,100 gain per fly.

Looked like TSLA would run following their split news, similar to AAPL. Glad the plan came together. My fly apprenticeship continues.

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Apprenticeship my ass. You're doing better than I am, you're the new master, you can have it!

spud1910 said:

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WoMD said:

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So everyone bailing on ZOM?

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I did.

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Me too.

Fireman said:

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McInnis 03 said:

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Fireman said:

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McInnis 03 said:

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Here she goes! $TSLA

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Lets Go! 1640/1690/1740 fly bought Wed.

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Here's where it was, Fireman, did this work for you too?

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Yes - I did really well. Bought for $250 and sold mid-day today net credit of $1,350 or $1,100 gain per fly.

Looked like TSLA would run following their split news, similar to AAPL. Glad the plan came together. My fly apprenticeship continues.

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Now that's a haul, I can say you definitely earned that one. Between drop late yesterday and little dip first thing this morning, your patience payed off. I thought about averaging down a little more late yesterday when it was 1605 but wasn't sure how much macro market Could affect it so I didn't but still a nice profit. Appreciate the info man

Oh duh. I was thinking backwards on getting assigned puts.

I guess if you wanted to own 200 shares, you buy 100 outright, sell covered calls on those. Then sell puts on an entry you wouldn't mind paying for a long term hold.

Then all the premium you collect lowers your cost average, but any big run, you'll miss out on unless you've been assigned the put?