Also Palantir debut seems like a no brainer but just feels dirty - that company can do some scary stuff. Very interested to see how the direct listing goes off tomorrow

Bob Knights Liver said:

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UpstateAg said:

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This might be strange, but I rarely average down. That's one way accounts get blown up.

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I will average on longer investments in shares or LEAPs, but I try not to do that on most options. You take the loss, see if there was something you missed to learn, and move on. Small losses are ok but big losses will hirt you. My biggest investing mistakes were when I averaged down when options go against me. Lots of scars. Bad scars.

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I think a lesson I'm finally starting to learn is that when I've got calls that drop to a nickel or a dime, even if i think it's a temporary event and want to average down, rather than averaging down on the same contracts i add longer or lower strikes instead

Yes that can be a good move if you are still bullish. Either the move is taking longer to develop or the price has dropped enough that it's unlikely to get close to your strike.
I'm working on rolling mine out further or lower before they get to a nickel. It's hard to do, but when to pull the plug has to be part if the plan when I initially invest.
Unless it's just long shots that I ride out and expect to go to zero some of the time.

Engine10 said:

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Also Palantir debut seems like a no brainer but just feels dirty - that company can do some scary stuff. Very interested to see how the direct listing goes off tomorrow

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Personally, I like the stock, but not at any price.

FJ43 said:

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$30,000 Millionaire said:

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BenRev09 said:

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any good OSTK plays? looks like it's been coiling/converging all month

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I bought back my covered calls if that says anything on what I think. You may be able to get away with selling premium / condors in the near-term.

I'm bullish on it. I want to see it show relative strength when the market flushes next week as an entry.

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30,000 are you holding OSTK or the OSTKO shares? This is one I haven't had on my radar but remember discussion on the thread about OSTKO as well.

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Same as 30k, only I'm holding a lot less OSTK shares I bet, lol...enough to sell covered calls on though! I'm holding out on selling those though until it pops.

Agree 110%, super bullish consolidation. Very soon it should rocket.

Amazon is one step closer to owning the entire world....

https://apnews.com/article/biometrics-washington-archive-seattle-35d5d7b9a500124f75fac3a8f4dad189

Carlo4 said:

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Amazon is one step closer to owning the entire world....

https://apnews.com/article/biometrics-washington-archive-seattle-35d5d7b9a500124f75fac3a8f4dad189

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Amazon = skynet

Prognightmare said:

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Market doesn't give 2 ****s about a debate.

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Futures ripping. I'd say they cared about this one.

yeah, oops, now fut's red.

BREwmaster said:

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Prognightmare said:

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Market doesn't give 2 ****s about a debate.

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Futures ripping. I'd say they cared about this one.

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Pivot machine gun!!

Eh, this will get shaken off at 3 AM. This could be a red/Green Day tomorrow. It's the end of the quarter. I expect downside to commence around 1pm tomorrow when some selling starts for rebalancing. I think next week is a down week.

XOM now at $34.31 with 10% dividend. Does it make sense for me (as a XOM bag holder) to buy Jan 23 put $30 for $6 as a hedge?

TubTub said:

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XOM now at $34.31 with 10% dividend. Does it make sense for me (as a XOM bag holder) to buy Jan 23 put $30 for $6 as a hedge?

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I'd be very surprised for it to trade that low.

TubTub said:

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XOM now at $34.31 with 10% dividend. Does it make sense for me (as a XOM bag holder) to buy Jan 23 put $30 for $6 as a hedge?

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you are going to eat that. XOM has to cut the dividend. They cannot afford not to with demand leveling off for the next 6 mos.

BREwmaster said:

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Prognightmare said:

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Market doesn't give 2 ****s about a debate.

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Futures ripping. I'd say they cared about this one.

yeah, oops, now fut's red.

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Dropped like a rock during debate.

topher06 said:

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BREwmaster said:

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Prognightmare said:

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Market doesn't give 2 ****s about a debate.

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Futures ripping. I'd say they cared about this one.

yeah, oops, now fut's red.

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Dropped like a rock during debate.

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Rose pretty steadily throughout the entire debate. Started dropping like a rock about 15 minutes after the debate ended.

If the market took anything away from the debate, its that likely we will have an election that will not be decided on November 3rd and mass chaos. It wasn't until the question about mail-in ballots that futures slipped.

This sell off may not end at 3AM

Prognightmare said:

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Engine10 said:

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Also Palantir debut seems like a no brainer but just feels dirty - that company can do some scary stuff. Very interested to see how the direct listing goes off tomorrow

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Personally, I like the stock, but not at any price.

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Does this start trading at opening bell or is there a listed time?

McInnis 03 said:

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You know what I'm most impressed with? It appears that overnight we didn't lose a single B&I poster to F16 after the debate. This is bullish IMO.

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My new policy: TexAgs is for making money, Twitter is for voicing my political opinions. OA1 is my favorite follow for both.

Now... about those AAPL 10/2 calls.. if we don't get a run to 116 this morning is it time to sell?

LULU going to make a move today? Up about 2% pre-market pushing up to around $330.

I know you guys are traders, but I've got a significant amount of cash I want to put to work in low debt/high quality names late this year/early next. With a corona spike and contested election that could slip into 21, don't you think we see another dip? Maybe not as big as march, but the market doesn't like uncertainty, and I see it a mile away. Right now my strategy is to wait until after the election and just start buying small chunks on down days and average in over the six months- year I would say. This is very long term money for me. Recommendations or thoughts?

ClutchCityAg said:

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McInnis 03 said:

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You know what I'm most impressed with? It appears that overnight we didn't lose a single B&I poster to F16 after the debate. This is bullish IMO.

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My new policy: TexAgs is for making money, Twitter is for voicing my political opinions. OA1 is my favorite follow for both.

Now... about those AAPL 10/2 calls.. if we don't get a run to 116 this morning is it time to sell?

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Fingers crossed it does

NIO all time high!

QD - what's everyone thinking of this? I don't know whether to load up or let it continue going for a while. I'm coat averaged at $1.76, so a ways off from becoming profitable again at this point. This thing just keeps sinking.

Sold a $23 PMCC against a $3 1/21 call on NIO. Not really wanting to get called out, should i roll that on out for a loss this week?

Hold your cash. The upside is a fraction of the downside. Wait until election, or maybe even January 2021.

Following. Interested

RSP715 said:

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I know you guys are traders, but I've got a significant amount of cash I want to put to work in low debt/high quality names late this year/early next. With a corona spike and contested election that could slip into 21, don't you think we see another dip? Maybe not as big as march, but the market doesn't like uncertainty, and I see it a mile away. Right now my strategy is to wait until after the election and just start buying small chunks on down days and average in over the six months- year I would say. This is very long term money for me. Recommendations or thoughts?

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PINS has had trouble staying over that 41.20 mark the last few days. Hopefully it finally breaks through.