WoMD said:

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

Maybe...

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I bought more low 90s this morning. I'm capped out on it though and finding myself a lil nervous. I know its a volatile stock and I have a lot of other volatile ones too, but I bought back in way too much around 117 and hoping we can get back there soon.

I guess you are limiting your upside loss by covering your call. Your gains are basically capped at the premiums you take? Would you try to sell a call x% above the current share price? Would the put strike you sell be that same % below share price?

Yeah, I think you'd pick a call strike right about the current channel, and a put strike just above the bottom. You'd attempt to scalp the bottom and not get called out.

Who thinks Tesla pulls back to the 1500 capitulation line? That is kind of the oscillation line over the past month.

I feel like the impending split is gonna keep it propped up

I think Tesla soars past ATH. It held up well on a sleepy Friday.

I am really thinking about buying 100 Tesla long and selling a covered call for $1,800. This feels like a can't lose trade.

$30,000 Millionaire said:

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I am really thinking about buying 100 Tesla long and selling a covered call for $1,800. This feels like a can't lose trade.

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Posts like this are why I'm glad we can't trade on Friday evenings! This sounds very interesting, but I'm glad I have to think about this more sober before dropping coin!

I'll have to take a look at this tomorrow

Why not hold onto your cash and sell the put instead?

The premium on a Sept11 $1800 call is only 4% of the share price and for a $1750 call it's only 5.5%. Does the higher share price change the premium to share price relationship? Especially for a stock that's a RH darling? Many investors there could buy partial shares but can't afford to buy partial contracts?

Maybe there's some spread value in TSLA?

Bob Knights Liver said:

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The premium on a Sept11 $1800 call is only 4% of the share price and for a $1750 call it's only 5.5%. Does the higher share price change the premium to share price relationship? Especially for a stock that's a RH darling? Many investors there could buy partial shares but can't afford to buy partial contracts?

Maybe there's some spread value in TSLA?

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1750-1650+91 = $191
1800-1650+73 = $223

What is the question?

Anyone dip into CVAC today. I did for a short time but go nervous and bailed. Profit is profit.

BTC at + 11,900

NRD09 said:

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Why not hold onto your cash and sell the put instead?

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My plan will be to buy the shares around $1,600 in either premarket or cash session Monday and then sell the weekly 1800C, then see how the stock behaves after the split on 08/31, in which case I might keep selling calls or dump the stock.

Regarding your question, I think the stock will go up similar to Apple and I would much rather have the call assigned at 1800 than have a put assigned at 1800. If I had been really smart, I would have sold a 1650 put expiring today to get assigned and then execute the strategy, but who could have guessed the stock would split?

I bought XOM at $53 and it is now $43. It's a long term hold. Question is for you experienced traders...is there anything to gain by selling now and taking a loss but immediately rebuying the stock at the lower price vice just holding and waiting for it to increase back to original?

Square Pair said:

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I bought XOM at $53 and it is now $43. It's a long term hold. Question is for you experienced traders...is there anything to gain by selling now and taking a loss but immediately rebuying the stock at the lower price vice just holding and waiting for it to increase back to original?

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that would be a wash sales rule and your cost basis would be the average of the two. Unless you wait 30 days I think.

Square Pair said:

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I bought XOM at $53 and it is now $43. It's a long term hold. Question is for you experienced traders...is there anything to gain by selling now and taking a loss but immediately rebuying the stock at the lower price vice just holding and waiting for it to increase back to original?

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You'd have to wait 30 days before rebuying it to avoid the wash sale rule (assuming you're wanting to sell at a loss for tax purposes)

So you'd probably want to wait until the dividend dates to make sure you at least get that cash...not sure what the XOM dates are

Square Pair said:

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I bought XOM at $53 and it is now $43. It's a long term hold. Question is for you experienced traders...is there anything to gain by selling now and taking a loss but immediately rebuying the stock at the lower price vice just holding and waiting for it to increase back to original?

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I was in at 47 per share and just sold yesterday at 43. I was tired of watching everything else continue to go up so my plan is to circle back around. Be sure to wait at least 30 days to buy it back though because of tax implications.

Thank you!

Square Pair said:

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I bought XOM at $53 and it is now $43. It's a long term hold. Question is for you experienced traders...is there anything to gain by selling now and taking a loss but immediately rebuying the stock at the lower price vice just holding and waiting for it to increase back to original?

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You should probably just buy additional shares now to lower your dollar cost average. Otherwise you have to sell now and wait at least 30 days. Then what happens if price has increased up to the high 40s or 50s?

gougler08 said:

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Square Pair said:

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I bought XOM at $53 and it is now $43. It's a long term hold. Question is for you experienced traders...is there anything to gain by selling now and taking a loss but immediately rebuying the stock at the lower price vice just holding and waiting for it to increase back to original?

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You'd have to wait 30 days before rebuying it to avoid the wash sale rule (assuming you're wanting to sell at a loss for tax purposes)

So you'd probably want to wait until the dividend dates to make sure you at least get that cash...not sure what the XOM dates are

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XOM went ex-div this past Wednesday so he's share holder if record and will receive the dividend on 9/12 regardless if he sells the underlying stock on Monday.

Time to short $DKNG?

https://www.bloomberg.com/news/articles/2020-08-14/draftkings-fanduel-fees-deemed-taxable-in-landmark-irs-memo?sref=KkPzpZvz&utm_source=url_link

SIAP I thougt today was the 14th

What do you guys think about shorting ZM?

$30,000 Millionaire said:

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What do you guys think about shorting ZM?

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I'd be scared to but technically it looks like it's going to drop hard should we have any type of a correction.

Looch and Pete Thamel retweeted this so no need to throw political stuff to the messenger, but this looks like some on the companies making money on COVID tests just got a bunch of competition.

$30,000 Millionaire said:

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What do you guys think about shorting ZM?

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Strip Strangle it... 2 puts to 1 call ratio. That was a new term to me, had to look it up.

BREwmaster said:

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$30,000 Millionaire said:

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What do you guys think about shorting ZM?

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Strip Strangle it... 2 puts to 1 call ratio. That was a new term to me, had to look it up.

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Why not just have a smaller position size and risk it all or 50%? The interesting conflict is the weekly vs the daily.

Great news. I can say it's pretty darn normal here in the UK now and has been for a month or so no matter what dribble the bbc puts out for the world to see. Hope America can get there soon.