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FJ43
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In reply to $30,000 Millionaire • 6:17a, 1/29/21
$30,000 Millionaire said:
I went ahead and sold SNDL just now AH. Two round trips. 0.65 to 1.19 and 0.68 to 0.87.
Didn't read this until this morning after the fact and feel better I was on the same thought process as you. I unloaded a large part of my position this morning at $0.99 just after 5AM. Still have covered calls sold against a bunch and will watch what happens on those. Plan to keep some net free and forget about them.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

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Bob Knights Paper Hands
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In reply to 59 South • 6:27a, 1/29/21
59 South said:
Just to pile on RH some more, I had a small account I played some options on but I transferred it all out last night to my Fidelity account.

Question for you guys, do you have multiple brokerage accounts for different things? I only have one main one in Fidelity that I use but thinking about setting up 2 more to have 3 taxable total:

1) Long term holds & net free shares (rarely any action outside of adding net frees and occasional covered calls)
2) Swing and accumulation shares and selling covered calls & cash covered puts
3) Options

Work upwards rebalancing every so often. For example, 3) goes from 10k to 20k, move 10k up to 2). Go net free in 2), move net free shares to 1) and forget. 1) grows from 2), 2) grows from 3). Anybody do anything similar?

I have decided I will open another account, maybe on the same platform, to have long holds separate from swing, day trading, and options trading. The idea for me is to continually pay the long hold account through cash or net-free shares from the swing/trading/option account. I think that will help me focus a bit better since the trading account can be paired down. I do think it's helpful not to separate the swing and the options account because those play together at times - you don't want covered calls to be naked calls because the shares are in another account.
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BrokeAssAggie
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6:30a, 1/29/21
I only use ATP at the moment but plan to open an Interactive brokers account today. I will start off slow and once I get comfortable using the platform probably move most of funds.
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AgEng06
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In reply to Brian Earl Spilner • 6:39a, 1/29/21
AG
Brian Earl Spilner said:
ehrmantraut said:
GME see's $500+ tomorrow before 11am


Got my limit order set for $700, just in case.

I don't think your WSB friends would be very happy about that.

But it does show why this thing might fail or never get "squoze". As it runs up they are going to lose a lot of support via people selling rather than holding.
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Mostly Foggy Recollection
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In reply to AgEng06 • 6:47a, 1/29/21
ADD generation meme stocks are never going to last for the long haul.

Some of their peers are going to get crapped on.
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GigEmRangers75455
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6:49a, 1/29/21
Just to show the utter insanity of this WSB movement. A friend of a friend who has never invested in the market before this week put 300k on GME. 40k on AMC. 40K on NAKD. Basically his life savings.
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gougler08
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In reply to GigEmRangers75455 • 6:50a, 1/29/21
AG
Aggies75455 said:
Just to show the utter insanity of this WSB movement. A friend of a friend who has never invested in the market before this week put 300k on GME. 40k on AMC. 40K on NAKD. Basically his life savings.


Well that's a choice...
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Decay
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In reply to GigEmRangers75455 • 6:50a, 1/29/21
AG
Aggies75455 said:
Just to show the utter insanity of this WSB movement. A friend of a friend who has never invested in the market before this week put 300k on GME. 40k on AMC. 40K on NAKD. Basically his life savings.

Teach him what a trailing stop loss is RIGHT NOW
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GigEmRangers75455
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In reply to Decay • 6:52a, 1/29/21
Decay said:
Aggies75455 said:
Just to show the utter insanity of this WSB movement. A friend of a friend who has never invested in the market before this week put 300k on GME. 40k on AMC. 40K on NAKD. Basically his life savings.

Teach him what a trailing stop loss is RIGHT NOW


That's exactly what I told my buddy to tell him. As far as the GME buy he's in right at $330 per share.
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Charismatic Megafauna
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In reply to Decay • 6:53a, 1/29/21
AG
Decay said:
Aggies75455 said:
Just to show the utter insanity of this WSB movement. A friend of a friend who has never invested in the market before this week put 300k on GME. 40k on AMC. 40K on NAKD. Basically his life savings.

Teach him what a trailing stop loss is RIGHT NOW

Disagree. This is the worst scenario for trailing stops. The big money is swinging all of these tickers every which way right now hunting for trailing stops. You should teach him about net free/ house money instead
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Mostly Foggy Recollection
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In reply to GigEmRangers75455 • 6:53a, 1/29/21
I hope he dumps it at opening bell.

So stupid. But my hope is he cashes it for a large gain and then somehow becomes a legit investor.

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Decay
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In reply to Charismatic Megafauna • 6:55a, 1/29/21
AG
NRD09 said:
Decay said:
Aggies75455 said:
Just to show the utter insanity of this WSB movement. A friend of a friend who has never invested in the market before this week put 300k on GME. 40k on AMC. 40K on NAKD. Basically his life savings.

Teach him what a trailing stop loss is RIGHT NOW

Disagree. This is the worst scenario for trailing stops. The big money is swinging all of these tickers every which way right now hunting for trailing stops. You should teach him about net free/ house money instead

Technically you're right but just emphasizing any kind of exit/protection strategy could save this guy's life here. You lose 300k you might not come back from it.
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E
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In reply to GigEmRangers75455 • 6:55a, 1/29/21
AG
Aggies75455 said:
Just to show the utter insanity of this WSB movement. A friend of a friend who has never invested in the market before this week put 300k on GME. 40k on AMC. 40K on NAKD. Basically his life savings.


YOLO
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59 South
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In reply to Bob Knights Paper Hands • 6:56a, 1/29/21
AG
To clarify, covered calls & puts would only be used in shares accounts. Options account would only be for longs calls/puts and never any shares bought or sold. I like that better because you keep that account very low balance compared to the other 2 to keep you honest.
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gig em 02
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In reply to Charismatic Megafauna • 6:56a, 1/29/21
NRD09 said:
Decay said:
Aggies75455 said:
Just to show the utter insanity of this WSB movement. A friend of a friend who has never invested in the market before this week put 300k on GME. 40k on AMC. 40K on NAKD. Basically his life savings.

Teach him what a trailing stop loss is RIGHT NOW

Disagree. This is the worst scenario for trailing stops. The big money is swinging all of these tickers every which way right now hunting for trailing stops. You should teach him about net free/ house money instead


Citadel owns Robinhood, they don't have to swing tickers because they can just see where stops are entered, which is why wsb told people not to use them. Brilliant move by citadel.
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fightintxag13
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In reply to GigEmRangers75455 • 6:58a, 1/29/21
AG
Aggies75455 said:
Just to show the utter insanity of this WSB movement. A friend of a friend who has never invested in the market before this week put 300k on GME. 40k on AMC. 40K on NAKD. Basically his life savings.
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Decay
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In reply to fightintxag13 • 6:59a, 1/29/21
AG
fightintxag13 said:
Aggies75455 said:
Just to show the utter insanity of this WSB movement. A friend of a friend who has never invested in the market before this week put 300k on GME. 40k on AMC. 40K on NAKD. Basically his life savings.

$330 CB is definitely not where I'd have put my life savings, that's for damn sure
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deadbq03
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In reply to gig em 02 • 7:03a, 1/29/21
AG
gig em 02 said:
NRD09 said:
Decay said:
Aggies75455 said:
Just to show the utter insanity of this WSB movement. A friend of a friend who has never invested in the market before this week put 300k on GME. 40k on AMC. 40K on NAKD. Basically his life savings.

Teach him what a trailing stop loss is RIGHT NOW

Disagree. This is the worst scenario for trailing stops. The big money is swinging all of these tickers every which way right now hunting for trailing stops. You should teach him about net free/ house money instead


Citadel owns Robinhood, they don't have to swing tickers because they can just see where stops are entered, which is why wsb told people not to use them. Brilliant move by citadel.
This is what drives me nuts.

I think when commissions went to zero everywhere, brokers decided to game the system even more. Even with Fidelity, I'm pretty sure I'm getting played. My "price improvements" are markedly less after they went commission free. There are some rare times when I'm lazy and make a market order on something with tight bid/ask spreads and yet somehow manage to catch a flash up/down well outside that range. Anecdotal for sure, but I have no doubt that all these brokers are shady behind the scenes.
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gig em 02
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In reply to aggiedaniel06 • 7:05a, 1/29/21
aggiedaniel06 said:
Also wanted to add this:

To go along with what I said above, the go to move this past year for most institutional players has been shorting vol after a big pop like wednesday. I'm sure they did the same thing today.

So now you have these HF's that have liquidity issues that are also short vol. And I wont get too technical but the current SPX vol to VIX beta is at an extreme correlation (thats why you saw a 70% jump in VIX with a -2.75% move in SPX). All these ingredients creates a powder keg of a situation.


Wait, so they've been getting trapped in this loop all year and that's when the treasury turned on the printers?
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wanderer
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7:06a, 1/29/21
Wow $NVAX. As soon as I saw their positive vaccine update yesterday I went and looked at the stock price and for some reason it dipped down under $120. It's now at $215 pre-market
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tsuag10
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In reply to GigEmRangers75455 • 7:09a, 1/29/21
AG
Aggies75455 said:
Just to show the utter insanity of this WSB movement. A friend of a friend who has never invested in the market before this week put 300k on GME. 40k on AMC. 40K on NAKD. Basically his life savings.
This makes me sick at my stomach to imagine someone doing this.
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Mostly Foggy Recollection
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7:11a, 1/29/21
SPY, QQQ, IWM all flushing.

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McInnis 03
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In reply to wanderer • 7:12a, 1/29/21
AG
wanderer said:
Wow $NVAX. As soon as I saw their positive vaccine update yesterday I went and looked at the stock price and for some reason it dipped down under $120. It's now at $215 pre-market


Going $250-$300. They may have the best of the vaccines
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BrokeAssAggie
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7:13a, 1/29/21
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Mostly Foggy Recollection
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In reply to tsuag10 • 7:14a, 1/29/21
Really no different than taking that Jack to Vegas and putting it on black.

It's stupidity, but it could pay off handsomely. Sometimes, lucky beats smart.

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McInnis 03
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In reply to Mostly Foggy Recollection • 7:14a, 1/29/21
AG
Mostly Foggy Recollection said:
SPY, QQQ, IWM all flushing.



When I woke at 415 spy was 372 and qqq was 315.

Was so happy I got hedges yesterday
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Mostly Foggy Recollection
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In reply to McInnis 03 • 7:18a, 1/29/21
Call me the hedgehog right now.

I'm 20% hedged this morning. Bubble ready for a pin.
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gigemJTH12
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In reply to Mostly Foggy Recollection • 7:19a, 1/29/21
AG
I need a hedge...what's your recommendation?
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khaos288
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In reply to gigemJTH12 • 7:20a, 1/29/21
AG
gigemJTH12 said:
I need a hedge...what's your recommendation?


Vix calls then spy puts
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Mostly Foggy Recollection
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In reply to gigemJTH12 • 7:23a, 1/29/21
SQQQ, SPXU, UVXY

Then with options ... SPY, QQQ, IWM puts with March dates and 2022 dates.

I have UVXY June calls as well.
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sts7049
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In reply to GigEmRangers75455 • 7:24a, 1/29/21
AG
Aggies75455 said:
Just to show the utter insanity of this WSB movement. A friend of a friend who has never invested in the market before this week put 300k on GME. 40k on AMC. 40K on NAKD. Basically his life savings.
tell him to buy a wheelbarrow to carry around his nuts with that kind of move
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McInnis 03
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In reply to khaos288 • 7:25a, 1/29/21
AG
khaos288 said:
gigemJTH12 said:
I need a hedge...what's your recommendation?


Vix calls then spy puts


Just remember on Vix calls, they are more like a butterfly on that you need to nail price AND time. Yes they will move a little in correlation with vix, not because of no early redemption the expiration timing matters.

Disclaimer: I'm in vix calls, spy puts, uvxy shares, and qqq put butterflies
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Charismatic Megafauna
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In reply to gig em 02 • 7:25a, 1/29/21
AG
gig em 02 said:
NRD09 said:
Decay said:
Aggies75455 said:
Just to show the utter insanity of this WSB movement. A friend of a friend who has never invested in the market before this week put 300k on GME. 40k on AMC. 40K on NAKD. Basically his life savings.

Teach him what a trailing stop loss is RIGHT NOW

Disagree. This is the worst scenario for trailing stops. The big money is swinging all of these tickers every which way right now hunting for trailing stops. You should teach him about net free/ house money instead


Citadel owns Robinhood, they don't have to swing tickers because they can just see where stops are entered, which is why wsb told people not to use them. Brilliant move by citadel.

Dear God i hope he didn't do this in rh
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Charismatic Megafauna
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7:39a, 1/29/21
AG
Thanks for dropping in aggiedaniel. Always appreciate hearing the word on the Street at times like this
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Cromagnum
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7:40a, 1/29/21
AG
GME is +83.26% since close and rising.

AMC is +49.25% since close and rising.
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