What CC's are you guys on for SNDL?

I went ahead and bought back my $0.50 calls and want to roll that into a higher strike. I do have 2/19 $1.5c sold on about 30% of shares, and 3/19 $2c sold on about 5% of shares.

Can we talk covered calls strategy a bit?

I've got some 2/19 $15 covered calls on MVIS. If that price starts to rise (say it runs up to $11-12 over the next week), are the call options going to go up in price or down?

And if I don't want to get called out, what should the strategy be with those contracts?

Mostly Foggy Recollection said:

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It's not a buy and hold ETF that many older generations love.

It's something you buy when markets are at or near tops, and when there are corrections, your plans are to sell and buy back lower.

I buy shares and then sell the hell out of premium on it so I'm usually in UVXY, but I'm always lowering my cost basis. Last swing (50% from 10 to 15) my cost basis was 8.30 because of selling puts and calls over a long range.

If you don't plan on selling premium, this isn't a bad time to buy it, but understand you may be upside down through the rest of Q1 if we don't have a healthy correction but it won't be a ton. You could always average down.

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Interesting strategy on the premium selling. I Never thought of doing this on an inverse etf. I need to try this.

Thanks for posting.

CastleRock said:

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I guess I'm spoiled by the massive volume plays lately. These INAQ and NLS calls seem to be just sitting in mud.

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NLS feels like its just waiting to take off

*possible wishful thinking*

wanderer said:

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Since everything else appears to be forming a cup & handle today, might as well throw APPL into the mix...

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shundere alluded to this earlier today

CPDAggie10 said:

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Mostly Foggy Recollection said:

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It's not a buy and hold ETF that many older generations love.

It's something you buy when markets are at or near tops, and when there are corrections, your plans are to sell and buy back lower.

I buy shares and then sell the hell out of premium on it so I'm usually in UVXY, but I'm always lowering my cost basis. Last swing (50% from 10 to 15) my cost basis was 8.30 because of selling puts and calls over a long range.

If you don't plan on selling premium, this isn't a bad time to buy it, but understand you may be upside down through the rest of Q1 if we don't have a healthy correction but it won't be a ton. You could always average down.

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Interesting strategy on the premium selling. I Never thought of doing this on an inverse etf. I need to try this.

Thanks for posting.

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For less-than-immediate hedges, I actually have had decent success on buying puts on the bullish versions of triple or double leveraged ETFs, making the time decay work in my favor. Look back at the track record of either the bear or bull version - many reverse splits over time. However, they're quite thinly traded, so I don't recommend them for extremely short expirations.

TQQQ, SPXL, and TNA are my favorites for put buying.

Agreed on this

You could buy those CCs back at a loss.

You could roll them up and out - later date and higher strike price. The downside there is you have your capital locked in for longer and there's risk that the stock price decreases and you have to ride it down a bit before call prices move down enough to close out.

Jet Black said:

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How long is long term?

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I'll put it this way, I think over its lifetime, it has only netted gains over a month period <5 times. I was always told it was a 'within week' trade. And was typically advised against holding through a weekend unless done strategically.

SPY / Technical Experts

If we bounce this today are we going to consider this a double top? Today's volume with a few hours to go isn't exactly sporty either. Although holding the 8 & 21 am I the only one getting nervous?

Bob Knights Liver said:

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You could buy those CCs back at a loss.

You could roll them up and out - later date and higher strike price. The downside there is you have your capital locked in for longer and there's risk that the stock price decreases and you have to ride it down a bit before call prices move down enough to close out.

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Thank you.

AG 2000' said:

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Can we talk covered calls strategy a bit?

I've got some 2/19 $15 covered calls on MVIS. If that price starts to rise (say it runs up to $11-12 over the next week), are the call options going to go up in price or down?

And if I don't want to get called out, what should the strategy be with those contracts?

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I would not be too worried about losing them yet, that is still a 50% run-up in two weeks. That price could rise if they go to $11-$12 but that depends if it slowly rises to $12 by next Friday, probably not much of an increase. If it sits idle and say jumps to $12 next wednesday, they will probably get an IV boost and be more expensive. I think you are safe, but just keep an eye on it and roll if it really starts to jump.

tsuag10 said:

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Watching AAPL this week is going to give me a f/cking ulcer.

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it hasnt even dipped again today..

I posted about VMNT a couple weeks ago, it's now on a rocket. Anyone else in it??

$ZM trying to get above the 50sma right now

$30,000 Millionaire said:

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$AAPL is in a 30 minute squeeze that is about to fire long.

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Thoughts on to buy more Feb 140s or Mar 150s?

The OTCs are absolutely ripping today so if you're holding, may want to look at letting some go at the end of the day because that's 2 straight days.

On ALPP, this has got to be one of the most interesting tickers ever. Some of you more experienced guys have you seen an OTC go from .04--$5.50 in 3 months without it being listed on NYSE or NASDAQ? It's waiting NASDAQ listing now so I'm really wondering what levels this may get to upon listing? Could Robinhooders take it much higher? Not saying it'll happen, but in today's environment would $25 after listing really be that unrealistic?

EgOC hit .005 earlier, dammit

Orlando Ayala Cant Read said:

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C'mon please tell me some of you were in on ENKS with me? Pretty please!!

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You may have posted this and I may have missed it, but please post more OTC picks.

Yes. I have bought more March this morning.

McInnis 03 said:

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EgOC hit .005 earlier, dammit

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this has a AH and Friday end of the week feel to it..

Mostly Foggy Recollection said:

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Yes. I have bought more March this morning.

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You're in the 150s as well correct?

I just added to my Feb 140s as my buy didn't fill previously. Same costs basis.

FJ43 said:

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$30,000 Millionaire said:

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$AAPL is in a 30 minute squeeze that is about to fire long.

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Thoughts on to buy more Feb 140s or Mar 150s?

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Don't tempt me with a good time.

Come on AAPL, I think she's about to blow.

fightintxag13 said:

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FJ43 said:

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$30,000 Millionaire said:

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$AAPL is in a 30 minute squeeze that is about to fire long.

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Thoughts on to buy more Feb 140s or Mar 150s?

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Don't tempt me with a good time.

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Well I added both Feb and March here. So your turn.

Me too. Doubled my Mar19 calls

did same