SPAQ taking off after hours.

Jet Black said:

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SPAQ taking off after hours.

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News? I exited after my covered calls were up 75% for a medium gain

Merger vote set for 10/28, I believe.

Over $15 ah

Jet Black said:

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Merger vote set for 10/28, I believe.

Over $15 ah

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Yikes. Chalk this one up to the play account. Staring at a 2% gain on the account just from the holding I sold.

Jet Black said:

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Merger vote set for 10/28, I believe.

Over $15 ah

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11/20 Calls it is! Will try and pick up the $20 strike

VALE showing a little life today. Up 3.5%.

OFF TOPIC: Incidentally, I have held the stock for years, bought some call options recently, and finally figured out it's time to find out what to call it. It bothered me that this board was likely pronouncing it wrong:

(vayle) TexAgs common pronunciation

(bah-lay) I Bleed Maroon's choice (also wrong, as it turns out - I thought it was the same as the Spanish word)

(vah-lee) correct Portuguese method, according to the internet.

Is that after hours movement on AYX just a glitch with google finance? No way it could be up that much right?

NRD09 said:

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also did the math on this theory after the conference call...based on spxs spiking almost 4x during the february crash, if it slides to 5.5ish before the next crash that will run it up to around $22, making the $6 calls worth $1600 each. Assuming your $10k account lost 20% of it's value during this event, you end up down $400 (I guess $500 since the call cost you $1) rather than being down $2k. Pretty neat!

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Where are you coming up with this 4x spike? Before SHTF in the spring, it hit a low of ~$11.50. It peaked at $28.85. That is a 2.5x spike in SPXS that accompanied a 35% drop in the S&P500.

Am I missing something? How do you now expect a 4x spike with a theorized 20% drop? Genuinely interested to learn if I'm missing something. But it seems like bad math to me.

lal4l said:

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https://www.marketwatch.com/story/alteryx-stock-jumps-30-after-new-ceo-increased-sales-outlook-11601929630

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Wow...what a great surprise! I've been bag-holding this ever since the 40% post-earning drop a couple months back. Went from being up 20%+ to being down 20%+ overnight. This move would put it right above my cost basis. If it holds into tomorrow's open I will be selling the news first thing in the morning!

Swollen Thumb said:

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lal4l said:

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https://www.marketwatch.com/story/alteryx-stock-jumps-30-after-new-ceo-increased-sales-outlook-11601929630

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Wow...what a great surprise! I've been bag-holding this ever since the 40% post-earning drop a couple months back. Went from being up 20%+ to being down 20%+ overnight. This move would put it right above my cost basis. If it holds into tomorrow's open I will be selling the news first thing in the morning!

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Personally, I wouldn't sell at the open. News like this, with the fed printing money, and it has a good chance of closing that huge gap over the next few months. JMO

brianZ71 said:

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NRD09 said:

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also did the math on this theory after the conference call...based on spxs spiking almost 4x during the february crash, if it slides to 5.5ish before the next crash that will run it up to around $22, making the $6 calls worth $1600 each. Assuming your $10k account lost 20% of it's value during this event, you end up down $400 (I guess $500 since the call cost you $1) rather than being down $2k. Pretty neat!

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Where are you coming up with this 4x spike? Before SHTF in the spring, it hit a low of ~$11.50. It peaked at $28.85. That is a 2.5x spike in SPXS that accompanied a 35% drop in the S&P500.

Am I missing something? How do you now expect a 4x spike with a theorized 20% drop? Genuinely interested to learn if I'm missing something. But it seems like bad math to me.

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sorry your numbers are right, I was going off memory. Guess I should have called it a WAE (estimation) rather than math

my favorite gif!

WDC - Nice volume spike at the close. The bulls were for sure in control of this one the last 15 minutes of the day.

https://www.foxbusiness.com/markets/electric-car-maker-fisker-to-go-public-with-2-9-billion-valuation

Jet Black said:

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https://www.foxbusiness.com/markets/electric-car-maker-fisker-to-go-public-with-2-9-billion-valuation

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SPAQ +5% AH

NRD09 said:

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brianZ71 said:

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NRD09 said:

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also did the math on this theory after the conference call...based on spxs spiking almost 4x during the february crash, if it slides to 5.5ish before the next crash that will run it up to around $22, making the $6 calls worth $1600 each. Assuming your $10k account lost 20% of it's value during this event, you end up down $400 (I guess $500 since the call cost you $1) rather than being down $2k. Pretty neat!

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Where are you coming up with this 4x spike? Before SHTF in the spring, it hit a low of ~$11.50. It peaked at $28.85. That is a 2.5x spike in SPXS that accompanied a 35% drop in the S&P500.

Am I missing something? How do you now expect a 4x spike with a theorized 20% drop? Genuinely interested to learn if I'm missing something. But it seems like bad math to me.

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sorry your numbers are right, I was going off memory. Guess I should have called it a WAE (estimation) rather than math

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if one timed it VERY right and went long SPXU calls, you could in theory whammy some real $ on a dump. It is quite the risky trade though, similar to a UVXY calls play. 99% of the time though UVXY goes down!

Anyone following NET:

Do y'all see a ridiculous spike in volume right after 3pm?

Follow up question -

Why did that seem to have no effect on the price?

Serious concerns of another Pats cast off being hired as HC, possibly GM keeping sentiment down.

Aggies1322 said:

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Anyone following NET:

Do y'all see a ridiculous spike in volume right after 3pm?

Follow up question -

Why did that seem to have no effect on the price?

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Options guys...could that spike be calls being covered? Large spike to the negative but narrow range.

panduh bear said:

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Serious concerns of another Pats cast off being hired as HC, possibly GM keeping sentiment down.

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Brian Flores isn't doing too bad of a job at Miami. I mean he's had to rebuild after that duckface Adam Gase. But I think they've been pretty good this year in some close losses.

FJ43 said:

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Aggies1322 said:

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Anyone following NET:

Do y'all see a ridiculous spike in volume right after 3pm?

Follow up question -

Why did that seem to have no effect on the price?

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Options guys...could that spike be calls being covered? Large spike to the negative but narrow range.

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I think it's off market or dark pool trading. https://www.investopedia.com/articles/markets/050614/introduction-dark-pools.asp
Someone correct me if I'm wrong.

Anyone selling covered calls on QD? You can sell 11/20 $1.50 covered calls for $15, which is an 11.5% return at the current stock price of $1.30. You're still losing if it drops more than .15, although you could continue selling covered calls, and you're capping your potential profit it it jumps unless you buy out the call, so maybe it's not the greatest idea. Just curious if anyone is doing that. Maybe the biggest potential threat is a drop below $1 and delist/reverse split problems?

Not saying it's gonna happen...But might not be a bad idea to get your hedge spxs calls in just in case in the next 3 days Trump has to get readmitted for any reason. Older folks and hospitals can be like moths and porch lights sometimes.

Not a bad line of thinking. However I do like to sell covered calls on more liquid stocks so it's easier to buy them back for cheap prior to expiry or if the stock starts running and I want to avoid getting called out. Also since you'll have assets tied up in the sold contracts, I like to sell calls after some upward movement to juice the premiums.

Awesome, that gives me more info to chew on, thanks!

Yes. Doing it. Takes forever to decay by the way.

If it's a short term hedge like that maybe use 30k's idea and buy SPXU calls instead?

I had sold MGNI covered call Dec $7.5 for $0.50. Not gonna complain since I made money but is there a way to exit now WITHOUT buying back the call? Or do I have to wait until Dec for the call to be exercised?

TubTub said:

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I had sold MGNI covered call Dec $7.5 for $0.50. Not gonna complain since I made money but is there a way to exit now WITHOUT buying back the call? Or do I have to wait until Dec for the call to be exercised?

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No. You have to buy it back, or let it get exercised or expire.