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Last: 20 min ago by Dan Scott
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Mostly Foggy Recollection
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The only certainties in life are death, taxes and someone asking about model T on every other page of this thread.
And you showing up once a month
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***
B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
Y'all have a great Saturday and I look forward to reading all the ideas, charts, tips and banter this evening.
Quail hunt day with my son in a light dusting of snow in East TN.
Make the most of every moment you're given.
Quail hunt day with my son in a light dusting of snow in East TN.
Make the most of every moment you're given.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Some anecdotal data for everyone on the expiring $WWR $5 options:
I had sold 60 puts. 8 (13%) were assigned and the rest expired worthless. I'll take it.
So now I have 800 more shares. Overall cost basis down to $4.44.
Curious on how all the others turned out (both sold calls and puts). My explanation from Fidelity is that they automatically execute options if they close in the money, and if not (at strike or out of the money) then the holder at expiration gets to decide.
I had sold 60 puts. 8 (13%) were assigned and the rest expired worthless. I'll take it.
So now I have 800 more shares. Overall cost basis down to $4.44.
Curious on how all the others turned out (both sold calls and puts). My explanation from Fidelity is that they automatically execute options if they close in the money, and if not (at strike or out of the money) then the holder at expiration gets to decide.
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59 South said:
the holder at expiration gets to decide.
NB: the holder doesn't have to wait until expiration,
an option can be exercised at any time (i.e. to snake a dividend). I can buy a february wwr $5p from you on Tuesday and exercise it and make you sell me the shares right then.
(I think you know that though, so maybe just semantics)
Question(s) from a novice: what is the strategy or thought process behind selling puts? Is it that, generally speaking, you have a stock that you were going to buy anyways (or wouldn't mind owning a X price / share), so you sell a put and lower the entry point via the collected premium?
my 1200 shares with $5cc sold were not called away.59 South said:
Some anecdotal data for everyone on the expiring $WWR $5 options:
I had sold 60 puts. 8 (13%) were assigned and the rest expired worthless. I'll take it.
So now I have 800 more shares. Overall cost basis down to $4.44.
Curious on how all the others turned out (both sold calls and puts). My explanation from Fidelity is that they automatically execute options if they close in the money, and if not (at strike or out of the money) then the holder at expiration gets to decide.
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Correct
My large number of puts were not put
I wanted them. Oh well, rinse and repeat.
I wanted them. Oh well, rinse and repeat.
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BREwmaster said:wow, yeah that is a no brainer. You can't have my shares! I'm selling 22.50P's against shares in an IRA, just needs to rocket in the next 4 weeks and I'm gravy.oldarmy1 said:
I'd sell my children to get assigned XL at $17.50 with a $5.40 premium earned. $12.10 assigned. Fill me up!
Brew I'm not sure i understand the statement above that you're "selling puts against shares" Sold puts are an obligation to buy shares, I don't get how held shares factor in?
Goldie Wilson said:
Question(s) from a novice: what is the strategy or thought process behind selling puts? Is it that, generally speaking, you have a stock that you were going to buy anyways (or wouldn't mind owning a X price / share), so you sell a put and lower the entry point via the collected premium?
That's one of many ways to use naked puts. 1) Create your own dollar cost average on strong Darvas Box stocks by selling naked puts at low support side. A post above says they have a current share holding price of $4.44 on WWR yet we didn't identify and make 1st stock buys until in the $5's, and it hasn't traded to $4.44 since yet there they are now.
It's important going in to desire any assigned shares as part of your mass accumulation plan. If they get assigned and you think you're too heavy you can 1) turn around and sell the shares of WWR with the price being around $5 and premium if $1+ collected you have a $4 net price on those, so it was a winning strategy, earning you 20%+. 2) You could sell a $5 covered call for $1+ and those shares then become $3 net or reduce the aggregate total held share price by a factor. 3) You could take a higher risk and hold those excess shares for a range bounce above $5.50 and sell a $7.50 covered call for $1+ out 2 months (March are at $0.70 now but would be $1+ at $5.50). That would get you $8.50+ should WWR break out in the midst of your strategy above $7.50. Otherwise if it breaks out slowly and is say $6.70 suddenly your not likely looking at any held shares as excess but either hoping they stay below $7.50 into expiration OR have deteriorated enough to buy them back. This happened at the $5 level just yesterday when some bought back $5 puts they had sold for $1+ for a nickel.
So many ways to use options. We'll be discussing this in-depth on the 28th.
I was assigned 10/10 wwr 5p, very interesting that some of y'all got none, some a portion, and then I got all of mine. Cost basis below 4.50 so I'm happy.
I had sold 12 1/15 WWR $5 puts but didn't get assigned on any of them. Only got assigned on my $7.5 puts (obviously).
Able to lower my cost basis to 3.64 considering the $ made from sold calls/puts not called out.
Able to lower my cost basis to 3.64 considering the $ made from sold calls/puts not called out.
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One more data point: I sold covered calls and naked puts in 3 accounts in 2 brokerages (td and fidelity) on goco and wwr, and none got assigned
Edit: also sitting at 40% cash overall going into the long weekend and inauguration week, and I'm more than ok with that
Edit: also sitting at 40% cash overall going into the long weekend and inauguration week, and I'm more than ok with that
tlepoC said:
My large number of puts were not put
I wanted them. Oh well, rinse and repeat.
+1, will do it again on the February $5 calls
Also had covered calls exercised on INMD, RVLV and OVV to go net free
Until recently I was never able to fully wrap my head around the impact of selling calls/puts and how its able to benefit your cost basis so much.wanderer said:
I had sold 12 1/15 WWR $5 puts but didn't get assigned on any of them. Only got assigned on my $7.5 puts (obviously).
Able to lower my cost basis to 3.64 considering the $ made from sold calls/puts not called out.
A few weeks back I put together a spreadsheet that I track everything in and makes it easy to visualize (at least for me)
Nice. I have my investing spreadsheet but it's only set up for shares. I need to modify it for tracking options. May take a few ideas from this.
Ragoo said:my 1200 shares with $5cc sold were not called away.59 South said:
Some anecdotal data for everyone on the expiring $WWR $5 options:
I had sold 60 puts. 8 (13%) were assigned and the rest expired worthless. I'll take it.
So now I have 800 more shares. Overall cost basis down to $4.44.
Curious on how all the others turned out (both sold calls and puts). My explanation from Fidelity is that they automatically execute options if they close in the money, and if not (at strike or out of the money) then the holder at expiration gets to decide.
30% of my puts were assigned. Rinse and repeat!
4/10 of my puts were assigned for WWR
3 of my 20 puts were assigned. Friday I did sell 10 more puts for Feb 19 for 1.05 lowering my basis to 3.95 if forced to buy im good with that. 20% premium in a month is insane and very doable for small accounts like mine.
I may even sell the Feb covered calls for another .40 lowering my current basis to 4.4 since the target date is 2022.
Learned all this from reading the thread. Hoping I can join in for the next seminar.
I may even sell the Feb covered calls for another .40 lowering my current basis to 4.4 since the target date is 2022.
Learned all this from reading the thread. Hoping I can join in for the next seminar.
How do y'all keep track of your cost basis on a MA play like WWR where we are grinding with options to collect premium and reduce cost basis?
I don't see where TDA will do the math for you? Does everyone just calculate it themselves manually?
I don't see where TDA will do the math for you? Does everyone just calculate it themselves manually?
I use a spreadsheet
CPDAggie10 said:
How do y'all keep track of your cost basis on a MA play like WWR where we are grinding with options to collect premium and reduce cost basis?
I don't see where TDA will do the math for you? Does everyone just calculate it themselves manually?
Yes, I have a spreadsheet where I track every trade similar to the one posted a few posts up.
******************************************CAUTION************************************************
This is simply passing on a conversation I had with another large investor out of Florida. I have not actioned and most likely will not, as OTC pinks aren't my focus. Some in here think the penny stocks like ONTX aren't a typical focus of a large investor. Well getting ground floor and becoming net free is much easier.
He purchased 50 million shares of EGOC for $80k. He says their engine conversion for fuel and environmental efficiency has connections with the Biden Administration. I asked if it was firsthand information with a contact inside and he said no. It came from an auto producer.
These are as high as risk as one could take but I glanced at the chart and obviously you see the spike since election area and now more volume, including his. I see this as a Vegas type play so for you gamblers who can't go to Vegas this extreme lotto might let you go net free if the current breakout matures. .0007 to 1.4 cents hahahahahahaha.
Again, I am not buying it but when someone like this guy tells me about a OTC lotto I'll pass it for each person to look into.
NOW! If you DO decide to buy and it DOES go to some crazy number I expect a 10% charitable contribution, of my choosing.
This is simply passing on a conversation I had with another large investor out of Florida. I have not actioned and most likely will not, as OTC pinks aren't my focus. Some in here think the penny stocks like ONTX aren't a typical focus of a large investor. Well getting ground floor and becoming net free is much easier.
He purchased 50 million shares of EGOC for $80k. He says their engine conversion for fuel and environmental efficiency has connections with the Biden Administration. I asked if it was firsthand information with a contact inside and he said no. It came from an auto producer.
These are as high as risk as one could take but I glanced at the chart and obviously you see the spike since election area and now more volume, including his. I see this as a Vegas type play so for you gamblers who can't go to Vegas this extreme lotto might let you go net free if the current breakout matures. .0007 to 1.4 cents hahahahahahaha.
Again, I am not buying it but when someone like this guy tells me about a OTC lotto I'll pass it for each person to look into.
NOW! If you DO decide to buy and it DOES go to some crazy number I expect a 10% charitable contribution, of my choosing.
Felt like a total whale having to add all those zeros to my open order
I know there were a lot of people in the TAK friday lottos that didn't pay, but there has been a large uptick in volume (presumably ARK) and the options premiums have very low implied votality as it hasn't made any kind of upward moves. Something like the $20 6/18's are only $0.63. I would think they should move at some point between now and then with the added volume. Thoughts?
Thanks for sharing! Love a good lotto ticket every now and then. Buy it and forget it. I'm wondering if there are some other lottos that might hit with the current changing political landscape. I know we all may not like what's occured, but there's no reason we can't profit off of it. The change in administration is just a data point to use in order to adjust your strategy.oldarmy1 said:
******************************************CAUTION************************************************
This is simply passing on a conversation I had with another large investor out of Florida. I have not actioned and most likely will not, as OTC pinks aren't my focus. Some in here think the penny stocks like ONTX aren't a typical focus of a large investor. Well getting ground floor and becoming net free is much easier.
He purchased 50 million shares of EGOC for $80k. He says their engine conversion for fuel and environmental efficiency has connections with the Biden Administration. I asked if it was firsthand information with a contact inside and he said no. It came from an auto producer.
These are as high as risk as one could take but I glanced at the chart and obviously you see the spike since election area and now more volume, including his. I see this as a Vegas type play so for you gamblers who can't go to Vegas this extreme lotto might let you go net free if the current breakout matures. .0007 to 1.4 cents hahahahahahaha.
Again, I am not buying it but when someone like this guy tells me about a OTC lotto I'll pass it for each person to look into.
NOW! If you DO decide to buy and it DOES go to some crazy number I expect a 10% charitable contribution, of my choosing.
Based on a little googling, this looks like a standard pump and dump stock.
It's not even on RH, so no chance here. I like lotto tickets for fun.
So put 50% of your portfolio in this bad boy. Got it!
We know the rules. We always kick 10% up to the "Big guy".oldarmy1 said:
******************************************CAUTION************************************************
This is simply passing on a conversation I had with another large investor out of Florida. I have not actioned and most likely will not, as OTC pinks aren't my focus. Some in here think the penny stocks like ONTX aren't a typical focus of a large investor. Well getting ground floor and becoming net free is much easier.
He purchased 50 million shares of EGOC for $80k. He says their engine conversion for fuel and environmental efficiency has connections with the Biden Administration. I asked if it was firsthand information with a contact inside and he said no. It came from an auto producer.
These are as high as risk as one could take but I glanced at the chart and obviously you see the spike since election area and now more volume, including his. I see this as a Vegas type play so for you gamblers who can't go to Vegas this extreme lotto might let you go net free if the current breakout matures. .0007 to 1.4 cents hahahahahahaha.
Again, I am not buying it but when someone like this guy tells me about a OTC lotto I'll pass it for each person to look into.
NOW! If you DO decide to buy and it DOES go to some crazy number I expect a 10% charitable contribution, of my choosing.
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