TubTub said:

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$30,000 Millionaire said:

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ejecting from TSLA. Maybe too early, but not going to look a gift horse in the mouth.

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All the index funds are buying TSLA on Monday or have they've already bought some? Is there a way to find out how many S&P 500 index have bought TSLA? and how many haven't?

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"Between $5 trillion and $6 trillion are invested in funds indexed to the S&P 500. Those funds start buying Telsa shares on Monday, and they have about 120 million shares to buy. Tesla has traded an average of about 45 million shares a day over the past few days."

https://www.barrons.com/articles/why-friday-is-big-for-tesla-stock-ahead-of-monday-epic-index-inclusion-51608237677

aggies4life said:

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Wow. Sold my position today

What's the reason? Anyone?

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Not sure. I'm sure they restructured after the fraud stuff. It's not like they ever stopped selling coffee during that time!

$BB earnings must have been ****

gigemJTH12 said:

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$BB earnings must have been ****

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Back to $8.29 right now, call doesnt start for another 15 minutes
Fingers crossed

They were actually pretty good. let's see what shakes out. last quarter they beat and it didn't effect the stock a great deal.

• BlackBerry (NYSE:BB): Q3 Non-GAAP EPS of $0.02 beats by $0.03; GAAP EPS of -$0.23 misses by $0.16.
• Revenue of $224M (-20.0% Y/Y) misses by $0.72M.
• Gross margin of 70% vs. consensus of 72.1%.
• Net cash generated from operating activities of $29M.
• Shares -0.9% AH.

Yikes

McInnis 03 said:

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Anyone out there that can answer this for me without me trying and getting buzzed family feud style?

If I'm holding a call in an IRA style account, and I get a move in my favor, can I actually short stock against it? I've thought that shorting in an IRA is kind of a no-no, but if you actually own the call, that is a verifiable position you might be able to short against?

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I didn't think you could but could sell or buy puts. Here is a quick blurb I had.

You cannot sell stocks short in your IRA. You would have to buy an inverse ETF to go short. In futures trading, you can sell short any futures market (the same way you can go long the same market).Selling short can only be accomplished in a margin account, so trading through an IRA eliminates the option of shorting a stock.

Maybe TDA has a better statement if that is where your IRA is at.

oldarmy1 said:

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Ragoo said:

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oldarmy1 said:

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gigemJTH12 said:

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ClutchCityAg said:

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so whats this mean? Stimulus coming before christmas?

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Whatever it is has to be tomorrow. All of these expire tomorrow!

I'll tell you what I did. I bought the calls at $0.70 and then shorted half of those average $372.40 after hours. It was like Santa swooped in and said here ya go. Tank or rock I don't care as long as a big directional move occurs.

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why short at 372.40? Your break even is 372.70 right?

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It's all the market offered and I certainly wasn't going to sit completely lotto on 500 Calls. As long as we move over $1.20 directionally I'm in the money and then let the big move crush in.

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you need 373 to break even to the upside and 371 to break even to the downside unless I've done the math wrong on my phone.

Anyone playing on Steel trades? CLF, MT, X

Supply is constrained and we are sure to see demand increase if ol Hoe Biden starts talking infrastructure...

I like CLF and VALE as posted before given its North America ties. Been holding since mid-high $4 range earlier this year.

CC question for you veterans...

I'm in 300 shares of FUBO, selling CC's on 2/3 of them. I'm selling the May 35C, which had a nice premium, but then kaboom, the stock ran a ton the past 24 hours. Now sitting at almost $37 after hours. My average is under $20, so I'm not concerned there. I'd like to think we get a healthy pullback before May, but what do I know. I'd like to do this a few times and really soak up some premium (rather than get called out on my first try!).

I suppose I could roll to a higher strike? With the election madness going on, I figure I'll get some sort of pullback soon.

Wall Street bets is all over MT

YNWA_AG said:

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Wall Street bets is all over MT

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Well they really are. And I've been an owner of CLF since back in early April cause of steel and infrastructure.

Ragoo said:

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oldarmy1 said:

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Ragoo said:

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oldarmy1 said:

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gigemJTH12 said:

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ClutchCityAg said:

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so whats this mean? Stimulus coming before christmas?

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Whatever it is has to be tomorrow. All of these expire tomorrow!

I'll tell you what I did. I bought the calls at $0.70 and then shorted half of those average $372.40 after hours. It was like Santa swooped in and said here ya go. Tank or rock I don't care as long as a big directional move occurs.

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why short at 372.40? Your break even is 372.70 right?

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It's all the market offered and I certainly wasn't going to sit completely lotto on 500 Calls. As long as we move over $1.20 directionally I'm in the money and then let the big move crush in.

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you need 373 to break even to the upside and 371 to break even to the downside unless I've done the math wrong on my phone.

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Close to that with 50% short. If it moves down then the calls will open well off entry. If it opened where closed as you know they also will lose value. Need a big move.

Ideally if the early futures are way down I could buy to cover on whatever portion calculated to cover the call portion. Gonna be an early morning.

BREwmaster said:

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CC question for you veterans...

I'm in 300 shares of FUBO, selling CC's on 2/3 of them. I'm selling the May 35C, which had a nice premium, but then kaboom, the stock ran a ton the past 24 hours. Now sitting at almost $37 after hours. My average is under $20, so I'm not concerned there. I'd like to think we get a healthy pullback before May, but what do I know. I'd like to do this a few times and really soak up some premium (rather than get called out on my first try!).

I suppose I could roll to a higher strike? With the election madness going on, I figure I'll get some sort of pullback soon.

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wait, see where the price is in a month or two. Then decide to roll. You could sell shares at the higher price to fund a roll to a higher strike above covering the difference of the sale.

Say the price runs to $50. You then sell 100 shares at 50 and buy back 1 contract. Then roll the remaining 2 contracts to $75. You've liquified some shares and now your break even is the same $15,000.

oldarmy1 said:

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Ragoo said:

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oldarmy1 said:

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Ragoo said:

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oldarmy1 said:

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gigemJTH12 said:

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ClutchCityAg said:

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so whats this mean? Stimulus coming before christmas?

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Whatever it is has to be tomorrow. All of these expire tomorrow!

I'll tell you what I did. I bought the calls at $0.70 and then shorted half of those average $372.40 after hours. It was like Santa swooped in and said here ya go. Tank or rock I don't care as long as a big directional move occurs.

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why short at 372.40? Your break even is 372.70 right?

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It's all the market offered and I certainly wasn't going to sit completely lotto on 500 Calls. As long as we move over $1.20 directionally I'm in the money and then let the big move crush in.

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you need 373 to break even to the upside and 371 to break even to the downside unless I've done the math wrong on my phone.

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Close to that with 50% short. If it moves down then the calls will open well off entry. If it opened where closed as you know they also will lose value. Need a big move.

Ideally if the early futures are way down I could buy to cover on whatever portion calculated to cover the call portion. Gonna be an early morning.

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agreed.

The short adds complexity to the trade but is now a hedge to losing everything if futures move down.

I get the short selling, makes perfect sense, but doing so below your break even had me confused.

Ragoo said:

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BREwmaster said:

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CC question for you veterans...

I'm in 300 shares of FUBO, selling CC's on 2/3 of them. I'm selling the May 35C, which had a nice premium, but then kaboom, the stock ran a ton the past 24 hours. Now sitting at almost $37 after hours. My average is under $20, so I'm not concerned there. I'd like to think we get a healthy pullback before May, but what do I know. I'd like to do this a few times and really soak up some premium (rather than get called out on my first try!).

I suppose I could roll to a higher strike? With the election madness going on, I figure I'll get some sort of pullback soon.

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wait, see where the price is in a month or two. Then decide to roll. You could sell shares at the higher price to fund a roll to a higher strike above covering the difference of the sale.

Say the price runs to $50. You then sell 100 shares at 50 and buy back 1 contract. Then roll the remaining 2 contracts to $75. You've liquified some shares and now your break even is the same $15,000.

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Great plan! thanks so much for the reply brother! It is unreal the run it's been on, so I'm more than happy to let it sit a bit and see if it pulls back.

Hoping fubo goes down tomorrow honestly, but pretty sure it won't. Don't want my 35ccs to be forced sales and realize more gain in 2020

oldarmy1 said:

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I got up for nothing. I went ahead and closed all the SPY outs to make $1.40/share. That's a complete offset of the calls bought at $0.70, since I had only shorted half the call equivalent. If we move up I can short a percentage again and then see what all the fuss was about. This was nothing so far.

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Guess today may be a sideways day after the run up. Unless of course some news drops.

Anyone have a chance to listen to the BB call and have any insight into what was discussed?
Stock is down right now but now a crazy amount

What's the best Twitter follow for earnings?

I started building a small position and may continue building under the same method you noted as well. Still holding the Jan calls at $5 as well

$TSLA with the rockets on the premarket.....I guess whoever started loading up yesterday at 2:40pm hasn't stopped.

McInnis 03 said:

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PLTR downgrade

Btfd

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damnit! bought a couple calls as a chart play yesterday. Grrr. Looked setup to rip, still does really.

FJ43 said:

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Question for the group....does it make sense to buy SPSX shares at these all time lows? They are basically $4 a share. Seems like downside risk is low. Although not going to make a huge difference as a hedge without a lot of capital tied up. But some anyway that doesn't expire and could also sell covered calls against like anything else.

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I'm not sure I'd want to hold a leveraged ETF in this market. It is literally going to go down almost every day. You may get a little bounce from here on a market pull back.

One thing I have done before is load some shares on a Friday and hold through Monday or Tuesday as a weekend hedge. SPXU could be used there as well, ultra short. It also helps you can add these after hours (while options are shut down).

FJ43 said:

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Question for the group....does it make sense to buy SPSX shares at these all time lows? They are basically $4 a share. Seems like downside risk is low. Although not going to make a huge difference as a hedge without a lot of capital tied up. But some anyway that doesn't expire and could also sell covered calls against like anything else.

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I do not buy the derivative shares for long term positions. They're OK for hedging, but they're mostly for short term movement. I consider them to be the oobleck of stocks. When you punch it, it's solid as a rock and will hurt the crap out of your hand, that's when they can do something for you. When you slowly push your hand into the stuff it'll sink right in. They're soft and nasty when movement is slow and steady. They can be amazing during periods of fast movement.

RDFN has had a powerful 20 day bull sequence and looks like a prime target for a model T regression. The 1/15 $70P's in the $2.80 range looks pretty good to me.

Thanks guys on the SPSX replies. One of those laying in bed ideas of hmmmm. what if this, what if that, if I do this, if I do that circular thoughts. Was contemplating buying some low here, selling near date covered calls (hopefully not getting called out), and with a patient rinse and repeat until as close to net free as I could over time. Then having a bag of them in the event of some more unforeseen volatile movement.