CIEN is another stock that got beat down and has been consolidating for a while now

0708aggie said:

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Wow what a day guys.

OA, huge shout out for you on the NIO $55 call. Bought 30 contracts at 1.07 and just sold at 2.75

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Same. I'm up 5% across all accounts today.

MSFT YUGE volume at the close

RIG finally woke up with a 30.8% day

0708aggie said:

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Wow what a day guys.

OA, huge shout out for you on the NIO $55 call. Bought 30 contracts at 1.07 and just sold at 2.75

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Well done sir.

wanderer said:

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MARA up a quick 5% AH to $5.20

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Really regretting going net free on this lol. Should have rode it out longer.

MARA with a big ol cup formed on the daily chart

Ok all you covered call experts, please help me out as I'm new to this. I bought 200 shares of MARA at $3.36/share last Friday and sold a single Dec 18 $2.50 call (per OA advice a few pages back) for $1.23. I guess my main question really is now what?

100 shares are at a cost basis of $2.13 and if that call gets exercised, I'll have made $0.37/share, right? Now I'll have 100 shares left. Would/could you sell another covered call to keep lowering my cost basis? Obviously it could get exercised and I am done with those initial 200 shares? Do you keep buying shares and selling more covered calls?

ETFs starting to take notice?

Lavender Gooms said:

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Ok all you covered call experts, please help me out as I'm new to this. I bought 200 shares of MARA at $3.36/share last Friday and sold a single Dec 18 $2.50 call (per OA advice a few pages back) for $1.23. I guess my main question really is now what?

100 shares are at a cost basis of $2.13 and if that call gets exercised, I'll have made $0.37/share, right? Now I'll have 100 shares left. Would/could you sell another covered call to keep lowering my cost basis? Obviously it could get exercised and I am done with those initial 200 shares? Do you keep buying shares and selling more covered calls?

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If you sold a $2.50 covered call then the person who bought the call has the right to buy those shares on or before that date for $2.50. If they do you get the $2.50 + $1.23 = $3.73 total.

If they do not then you keep your shares and pocket the $1.23.

But if you sold $2.50 calls vs a higher strike price they will exercise those at this point. They could exercise them today, have $3.73 in them and then turn around and sell the shares for over $5.

Make sense?

Lavender Gooms said:

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Ok all you covered call experts, please help me out as I'm new to this. I bought 200 shares of MARA at $3.36/share last Friday and sold a single Dec 18 $2.50 call (per OA advice a few pages back) for $1.23. I guess my main question really is now what?

100 shares are at a cost basis of $2.13 and if that call gets exercised, I'll have made $0.37/share, right? Now I'll have 100 shares left. Would/could you sell another covered call to keep lowering my cost basis? Obviously it could get exercised and I am done with those initial 200 shares? Do you keep buying shares and selling more covered calls?

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Two things. This will be a great first experience to feel how price action impacts your trade. At the open tomorrow check to see the option price and determine what buying it back would total and then compare that to the stock price. When options run well into the money the margin between the share price and premium shrink and a Dec 18th likely only will have a nickel spread versus 37 cents. Your choice to end the trade on 100 shares pocketing the 32 cents a share. With a $2.13 buy price and 200 shares next time you would want to sell that $5 call for $0.60 someone else mentioned on 100.

2) Just hold the second 100 long. Leave it and see just what MARA has in the tank.

Thoughts on AAPL.....good entry or wait?

CrazyRichAggie said:

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ETFs starting to take notice?

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Based on what?

oldarmy1 said:

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Same question for the forum. What do you see?

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Significant accumulation in the $3 range since 5/20.

FJ43 said:

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oldarmy1 said:

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Same question for the forum. What do you see?

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Significant accumulation in the $3 range since 5/20.

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Give it in layman's terms

Keybanc with a Overweight upgrade on MSFT, PT $250

oldarmy1 said:

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FJ43 said:

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oldarmy1 said:

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Same question for the forum. What do you see?

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Significant accumulation in the $3 range since 5/20.

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Give it in layman's terms

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Lots of shaking 'traders' out of the tree with big money holding the cards. Big money expecting big gains.

Edit: There have been a lot of institutional buys on this one recently. I can't see the price per share on all of them but BlackRock bought 2.3M shares for $3.16 on 11/06 as an example. Maybe someone has a better resource but here is a link for the group I use periodically.: https://fintel.io/so/us/mbio

Just a quick reminder that if Yellen is somehow installed the money will be printed and put into equities.

oldarmy1 said:

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Same question for the forum. What do you see?

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Darvis box or just a bottom?

Much higher overall volume, indicating bottoming/accumulation in anticipation of a move higher??

I see significant accumulation days as well as a huge goalpost in the beginningish of October. Also within the high volume days there are many instances of 3+ red days in a row leading to a shakeout among retail investors.

With that first goal post we should be expecting something in the near future, correct?

FJ43 said:

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cptthunder said:

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FJ43 said:

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cptthunder said:

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I looked at this late Friday as I was winding down for the week and saw that IDEX had a big jump and is continuing Pre-Market. Im thinking of playing this using one of OAs covered call strategies by either selling covered calls out until April or so that should put the entry price just under $1 based on premiuims from friday.
Is this a terrible idea?

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Do you own these shares already meaning selling covered calls?

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Either selling the calls and then watching the stock for a pull back and then purchasing shares or selling a put
Im trying to see how premiuim looks first on both

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Do you own these shares already meaning selling covered calls?

Read too quickly. Given this was below $1 a week ago I would do that and reduce your costs basis below that $1 and lock in profits if you get called out.

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Well not sure if this was the most strategic move but this is what I ended up doing here:
Sold the Dec18 4P for 2.15 = If assigned entry price of 1.85
Tried to sell the covered call for Dec18 2.50 but then realized i was an idiot and i could not do that with my account so i slightly panicked and picked up 100 share at $2.58. Not the best move at all as i chased some and could have got the shares for 2.30 easily if i was patient
Ended up waiting for the final push in the day and ended up selling the Dec18 2.50C for .85

End results if i didnt miss anything:
1)Stock keeps running like crazy and the 4P has nothing happen and I pocket the $215 in premium and then get called out on the 2.50C for a total price of $335 - $258 resulting in $77 + $215 = $292 made in a couple weeks
2) Price range inbetween 2.50 - 4.00 I get assigned the put for a cost basis of $1.85 on those shares and get called on the 2.5C and further reducing my cost basis by .77/share for a total entry @ 1.08 ---- sell covered call against the remaining 100 shares and keep rolling
3)Price drops below 2.50 and I get assigned the 4P and the 2.50CC expires and I now have 200 shares with a cost basis of
$1.79

Longest post ive ever made so sorry about that, really helps me type these things out after going through with a plan of action

At some point, as much as we may not want to admit it the Covid economy has to rear its head into this market right and bring us a correction again?

Orlando Ayala Cant Read said:

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At some point, as much as we may not want to admit it the Covid economy has to rear its head into this market right and bring us a correction again?

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I think most of the population is giving COVId and the CDC the middle finger

https://www.google.com/amp/s/abcnews.go.com/amp/Health/wireStory/millions-stick-thanksgiving-travel-plans-warnings-74362219

<a href="https://imgur.com/Q4WfsUL"><img src="" title="source: imgur.com" /></a>
First time trying to post an image so hopefully it works
One for the board that Ive tried to annotate as best I can
Ive been in this one since March and added some along the way but got spooked with the reverse split in August and sold half my holding to hedge against a big collapse and secure a cushion
From my untrained eye it appears to have alot of the indicators people call out on this board:
-A large cup forming since March
-Stair stepping support over the last few months
-Increase average volume since the reverse split with a sustained increase in average volume since the begging of November
-2 gaps to fill on the upside at 14.90 and 21.20
-Has options available but the volume is extremely low on them
-Possible to trade this in waves to gain a net free position overtime
-I have some not TA background work on their business model I did in March to make my first investment i would be willing to send to anyone that wants to take a look at it and offer feedback

Can someone let me know if the image worked?