CrazyRichAggie said:

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oldarmy1 said:

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Here's the thing. If you are going to trade then you have got to control your emotions.

Now, we just had a major rip move and it came back to Model T and is now drifting lower. IF, and that is a big IF right now this turns out to be a top then people talking about losses right now are too exposed. Correct it immediately, because IF (again) this becomes a start of a major correction then you haven't seen losses.

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This is like a game thread and Mond just threw a pick 6 but we are still up 10 points.

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If you bring up 2018 AUBURN ONE MORE TIME!!!

Give you an example of an initial action I took on a recent multi-tier position. I outlined the CLOV position I had and obviously it looked great before this hit. It's still hanging right around resistance after a flash below. That shows strength and it will likely run if markets stabilize. But with multiple exposures on it I reached out and sold May $17.50 calls for $2.65.

Why those? Because have Feb 19 $17.50 calls above the number of shares I hold too. So if CLOV spikes and reaches $17.50 area over the next few weeks I sell the shares because I have the ability to own those shares at same price come Feb 19. If that happens and the price of CLOV is below $17.50 well then whatever they are at I pick up the difference between where I sold and where I buy back. I would have already sold enough of the Feb 19 calls for a nice profit should we reach anywhere close to $17.50 and just hold onto 50 of the original 150 in case I need to call the 5000 shares out.

By then we will have more evidence of what the markets are doing and I can decide what to do with the May covered calls along the way, hold them or buy them back entering a further out covered call at whatever price point makes best sense.

CLOV above $14 as I finish up continuing to show that strength mentioned.

Sold Feb $6 CCs on my remaining EXPR net free shares for over $1. Either I get called out with a 400% gain or my cost basis goes below $1!

TheCellarDoor said:

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Sold Feb $6 CCs on my remaining EXPR net free shares for over $1. Either I get called out with a 400% gain or my cost basis goes below $1!

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ClutchCityAg said:

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Another sign of the top?

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I think you missed the joke...

ClutchCityAg said:

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Another sign of the top?

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I might be wrong, but it looks like he is talking about the piece of crap behind that sexy car...

oldarmy1 said:

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McInnis 03 said:

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$3.4MM, sheesh.

(IWM 203P 2/19)

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Someone took the rip as a signal.

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oldarmy1 said:

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Here's the thing. If you are going to trade then you have got to control your emotions.

Now, we just had a major rip move and it came back to Model T and is now drifting lower. IF, and that is a big IF right now this turns out to be a top then people talking about losses right now are too exposed. Correct it immediately, because IF (again) this becomes a start of a major correction then you haven't seen losses.

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