oldarmy1 said:

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When we hit $12 I am going to post a link of a charitable deductible group or struggling individuals GoFundMe and I expect to see $25000 towards it.

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If this were to be a guarantee to even 40 we'd all be fools not to accumulate the hell out of it even at $9......

Bob Knights Liver said:

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jwhitlock3 said:

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Red RKT sure fleeced me today, and is sitting right at what looks like support, be interesting to see what this thing does.

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Me too. I ended up selling shares and buying calls later this afternoon when the premiums dropped. Just enough to still feel good about the upside if it moves my way, but less overall capital exposure on this one now. I realized I have increased my overall volatility for money still in it, but I feel better.

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I almost pulled the trigger on commons, but didn't. I did grab some calls, but not stoked about how the market feels at present.

There was some big buying into the blood on PYPL calls, out to next week. It will be interesting to see if the market continues to pull back or if this is just OPEX shenanigans.

McInnis 03 said:

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oldarmy1 said:

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When we hit $12 I am going to post a link of a charitable deductible group or struggling individuals GoFundMe and I expect to see $25000 towards it.

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If this were to be a guarantee to even 40 we'd all be fools not to accumulate the hell out of it even at $9......

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Yeah im new to this thread and wondering if I've missed the boat or should I pile in? March 2021 $10P is selling for 2.35, so if it manages to stay under $10 before then I could get into this for 7.65/share, or keep the premium if it takes off before then. Seems like a win/win until the stock runs to $20 and I'm left wishing I had bought it outright under $10.

jwhitlock3 said:

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McInnis 03 said:

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oldarmy1 said:

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When we hit $12 I am going to post a link of a charitable deductible group or struggling individuals GoFundMe and I expect to see $25000 towards it.

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If this were to be a guarantee to even 40 we'd all be fools not to accumulate the hell out of it even at $9......

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Yeah im new to this thread and wondering if I've missed the boat or should I pile in? March 2021 $10P is selling for 2.35, so if it manages to stay under $10 before then I could get into this for 7.65/share, or keep the premium if it takes off before then. Seems like a win/win until the stock runs to $20 and I'm left wishing I had bought it outright under $10.

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It's just now confirmed it's breakout. You're not late. But take an initial position of shares. Futures are showing a potential gap down which would confirm the reversal harami short term likely stalling stocks and going through a consolidation. If markets move lower and gain some momentum you might see MGNI under $8 but $7.50 is probably not getting broken again.

See if futures are red and a intraday mirror day to yesterday in MGNI is likely so wait and make that first buy at $8.65. If futures are green then I wouldn't wait to take an initial position. If it became a momentum stock due to rising awareness and interest it could make a run up to $11+.

I wonder if Nancy might fold today or tomorrow and reach an agreement on PPP. Between the biden scandal and FB &TWTR; a chance to change the story and make it about money might be too tempting.

jwhitlock3 said:

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McInnis 03 said:

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oldarmy1 said:

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When we hit $12 I am going to post a link of a charitable deductible group or struggling individuals GoFundMe and I expect to see $25000 towards it.

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If this were to be a guarantee to even 40 we'd all be fools not to accumulate the hell out of it even at $9......

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Yeah im new to this thread and wondering if I've missed the boat or should I pile in? March 2021 $10P is selling for 2.35, so if it manages to stay under $10 before then I could get into this for 7.65/share, or keep the premium if it takes off before then. Seems like a win/win until the stock runs to $20 and I'm left wishing I had bought it outright under $10.

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Do both what I just typed above and sell the naked Puts. Great thinking. I didn't know if you had the ability to sell naked puts.

oldarmy1 said:

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jwhitlock3 said:

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McInnis 03 said:

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oldarmy1 said:

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When we hit $12 I am going to post a link of a charitable deductible group or struggling individuals GoFundMe and I expect to see $25000 towards it.

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If this were to be a guarantee to even 40 we'd all be fools not to accumulate the hell out of it even at $9......

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Yeah im new to this thread and wondering if I've missed the boat or should I pile in? March 2021 $10P is selling for 2.35, so if it manages to stay under $10 before then I could get into this for 7.65/share, or keep the premium if it takes off before then. Seems like a win/win until the stock runs to $20 and I'm left wishing I had bought it outright under $10.

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Do both what I just typed above and sell the naked Puts. Great thinking. I didn't know if you had the ability to sell naked puts.

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I don't have margin, so you are correct that I don't have the ability to sell naked. I don't have large amounts of funds, but I can go ahead and ease into this with both approaches. I'll do a cash secured March '21 $10P for a guaranteed premium or cheaper shares, and I'll wait to see how the market acts tomorrow with a buy order of another 100 shares at $8.65 to try and catch a dip. I'm a minnow swimming with whales here but I'm happy to be playing. Thanks for the insight!

jwhitlock3 said:

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oldarmy1 said:

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jwhitlock3 said:

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McInnis 03 said:

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oldarmy1 said:

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When we hit $12 I am going to post a link of a charitable deductible group or struggling individuals GoFundMe and I expect to see $25000 towards it.

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If this were to be a guarantee to even 40 we'd all be fools not to accumulate the hell out of it even at $9......

---

Yeah im new to this thread and wondering if I've missed the boat or should I pile in? March 2021 $10P is selling for 2.35, so if it manages to stay under $10 before then I could get into this for 7.65/share, or keep the premium if it takes off before then. Seems like a win/win until the stock runs to $20 and I'm left wishing I had bought it outright under $10.

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Do both what I just typed above and sell the naked Puts. Great thinking. I didn't know if you had the ability to sell naked puts.

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I don't have margin, so you are correct that I don't have the ability to sell naked. I don't have large amounts of funds, but I can go ahead and ease into this with both approaches. I'll do a cash secured March '21 $10P for a guaranteed premium or cheaper shares, and I'll wait to see how the market acts tomorrow with a buy order of another 100 shares at $8.65 to try and catch a dip. I'm a minnow swimming with whales here but I'm happy to be playing. Thanks for the insight!

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Gotta start somewhere and this is a good moment in time to be there. Futures down 13.75 so we could be on the way to 3340 which would probably get you MGNI a flash under $8. Let's see where things are premarket.

What would a gap down mean for how you handle the RKT calls for 10/30? Still lots of time obviously.

chrisfield said:

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What would a gap down mean for how you handle the RKT calls for 10/30? Still lots of time obviously.

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yeah not worried and would add some at lower range.

Did you mean 3440 or are you talking about a longer timeline?

I'm in. Wish I had bought more at $7.5, but so be it.

jwhitlock3 said:

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oldarmy1 said:

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jwhitlock3 said:

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McInnis 03 said:

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oldarmy1 said:

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When we hit $12 I am going to post a link of a charitable deductible group or struggling individuals GoFundMe and I expect to see $25000 towards it.

---

If this were to be a guarantee to even 40 we'd all be fools not to accumulate the hell out of it even at $9......

---

Yeah im new to this thread and wondering if I've missed the boat or should I pile in? March 2021 $10P is selling for 2.35, so if it manages to stay under $10 before then I could get into this for 7.65/share, or keep the premium if it takes off before then. Seems like a win/win until the stock runs to $20 and I'm left wishing I had bought it outright under $10.

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Do both what I just typed above and sell the naked Puts. Great thinking. I didn't know if you had the ability to sell naked puts.

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I don't have margin, so you are correct that I don't have the ability to sell naked. I don't have large amounts of funds, but I can go ahead and ease into this with both approaches. I'll do a cash secured March '21 $10P for a guaranteed premium or cheaper shares, and I'll wait to see how the market acts tomorrow with a buy order of another 100 shares at $8.65 to try and catch a dip. I'm a minnow swimming with whales here but I'm happy to be playing. Thanks for the insight!

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You may not need margin to sell puts as long as you have sufficient cash in your account to cover the purchase. It feels like a perfect put credit spread candidate.

I don't like to see futures down this much at this time, especially NQ, cause it typically turns into either a mega gap up or a mega gap down.

$30,000 Millionaire said:

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I don't like to see futures down this much at this time, especially NQ, cause it typically turns into either a mega gap up or a mega gap down.

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How bad?

Buying more MGNI tomorrow regardless. I think it hits $30 within the next 3 years pretty easily. I'm averaged in around $6 and it's already my largest holding, but I WANT SOME MOE!!!!

lal4l said:

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$30,000 Millionaire said:

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I don't like to see futures down this much at this time, especially NQ, cause it typically turns into either a mega gap up or a mega gap down.

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How bad?

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-1.5 to -2%. Guessing we're somewhere between 0 and -0.5% by the time we get to the morning tomorrow.

Little flush here 90 minutes prior to premarket trading. Will look at SPY against Puts depending on further decline line.

ROKU down $10 to $223. Wrong direction ROKU!

texagbeliever said:

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I wonder if Nancy might fold today or tomorrow and reach an agreement on PPP. Between the biden scandal and FB &TWTR; a chance to change the story and make it about money might be too tempting.

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Pelosi won't cave. She'd rather kill the market and hurt 401Ks before the election because it could damage Trump. She definitely doesn't want the markets at ATH and Trump using that at his rallies.

Anyone with some good stock recommendations for puts today?

I think FB could have a nice fall today after gapping up a few days ago. I think support is a ways away and that could lead to some momentum. I did buy a put on FB yesterday with the censor news going on.

I've got an eye on ZM. I like the stock, but it's moves have been inflated during covid, imo. May look at a few cheaper OTM puts for tomorrow and see if it swings down lower today. As long as there isn't a wave of lockdown news or crazy increases in cases/deaths, I expect it to drop a little today. Down 2% in PM.

How low we going on Nasdaq? Asking for a friend that has lots of SQQQ shares at 19.10 average. Worked 15 hours yesterday so haven't looked at any technical analysis.

Thinking of taking half profits here and letting other half ride unless we think there is more downside coming

oldarmy1 said:

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Reversal Harami for the win! Technical trade pays off.

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Is the idea behind the Reversal, that the stock recovers too quickly for the fall and has to consolidate? Almost like the opposite of a cup and handle where long consolidation allows for liftoff.

Roku KeyBanc downgraded the streaming video device maker to "sector weight" from "overweight", noting a nearly 40% runup over the past month and that many positive aspects are already built into the stock's price. Roku shares lost 3% in premarket trading as of 7:40 a.m. ET.

These *******s knew I had bought some ROKU $240 calls.

Yes please.

lol here we go. Let the roller coaster ride commence.

Engine10 said:

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lol here we go. Let the roller coaster ride commence.

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What does it say? I can't see it.

Chance a "serious" stimulus bill could emerge...as if we were just messing around before.

jobless claims?

Oh man, my poor Tesla

said that he didn't say "it's not likely" but there are significant issues.

https://www.cnbc.com/2020/10/15/smead-nightmare-us-stock-valuations-driven-by-young-dumb-investors.html

Quote:

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U.S. equity valuations have become a "total nightmare" fueled by "young and dumb" investors, according to Cole Smead, president and portfolio manager at Smead Capital Management.

At present, investors are paying 22 times forward earnings to purchase stocks on the S&P 500, 50% higher than the 10-year average valuations across the index.

The forward price-to-earnings (P/E) ratio divides the current share price of a company by its estimated future earnings per share (EPS).

Much of the market rally which took the U.S. benchmark from correction territory in March to an all-time high in August was driven by tech megastocks and a bullish options market.

"The buying that went on in August and September is a 10-year phenomenon the likes of which we have never seen, among millennials and in the risk-taking among people that don't want to own bonds and want to own overpriced U.S. quality businesses, it is of record proportions," Smead told CNBC's "Squawk Box Europe" on Thursday.

He added that current valuations were an example of "stock market failure" driven by millennials speculating in the stock market for the first time. Smead projected that markets could be in for a nosedive since despite its monetary policy shoring up credit markets, the Federal Reserve "can't save a stock market."

"They are buying bullish call options that expire inside two weeks. There was ($500 billion) of bullish call options bought in a four-week stretch by small retail traders," Smead said.

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Quote:

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Microsoft is a wonderful company, but at 40 times earnings, there is a 0% chance of that producing wealth for someone over the next 10 years that will meet their needs."

Despite a sharp tech sell-off in early September, Microsoft shares remain 40% higher since the turn of the year, while fellow tech titans Apple, Amazon, Alphabet, Facebook and Netflix have all been on a tear since March's crash.

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Good read and touches on what I was talking about yesterday about seeing what RH traders are feeding on.