$30,000 Millionaire said:

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I think this is it for OA's picks?

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• RIO - recommend put credit spreads or buy-write
• SAND - got the guts to call a reversal in gold? Look for 8/21 cross for a clean entry, confirmed reversal with close above 6.60
• TSLA - daily squeeze, declining volume, probably needs to consolidate. You could sell premium on this.
• TSM - bullish consolidation, daily squeeze. If playing calls, recommend entering further out.
• TMO - look for server over 503. Probably easy money to sell put credit spreads on reversal confirmation
• MCD - could be beginning of new uptrend. Target 225. I am not going to trade
• SNOW - I've been snakebitten by this and never made a profit trading it. Daily squeeze, moving averages beginning to stack positive. Maybe the 5th time is a charm for me?

$30,000 Millionaire said:

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agdaddy04 said:

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Oh okay. I've just never had to pay quarterly before.

Interesting about the long term and 1099-DIV. is that because most of the trades you're posting on here are in retirement accounts?

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The majority of my money is in a taxable managed account that I don't touch very often. My trading accounts are taxable. I do not trade my IRAs / 401Ks, mostly because I don't have bandwidth to do it all.

For context, in 2019, the overwhelming majority of option trades I did were buy writes, covered calls, and collars. I spent 200 nights on the road that year and was not able to monitor riskier trades intra day. I'd find opportunities, set limit orders, and try to check when I could. You obviously aren't going to open active trader pro on an airplane if you value security. Selling premium was a good strategy in 2019, by the way.

2020 and 2021 have been a unique opportunity for me where I can monitor the market most of the day or I can action an alert I set right away. I can also be on discord or use Twitter. When life goes back to normal, I will not be able to be as active because most of my day will be spent in BS meetings in conference rooms that could be handled over an email or on the road for face time with customers and colleagues. In normal life, I don't even look at a computer most of the work day.

I have a big decision to make around whether or not to walk away from a great corporate career to be a full time trader. I am worried I will lose my mental edge if suddenly most of my income has to come from trading.

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$30,000 Millionaire said:

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$RUN.

This reverted to its mean, strong evidence of reversal. Daily squeeze, target $85 for me.

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$30,000 Millionaire said:

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$UPS, this looks great. Daily squeeze, post earnings. Hopefully I'm not too late on getting an entry. Target $175.



Edit: this is a riskier play.

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Ragoo said:

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$30,000 Millionaire said:

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$RUN.

This reverted to its mean, strong evidence of reversal. Daily squeeze, target $85 for me.

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$85 is a model t. I like it

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DubFalls said:

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Ragoo said:

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$30,000 Millionaire said:

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$RUN.

This reverted to its mean, strong evidence of reversal. Daily squeeze, target $85 for me.

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$85 is a model t. I like it

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The option chain certainly thinks it gets back to $85 near term as well. I think it's a solid play.

March 19 $75 calls cost $9.9, which implies an $85 target too.

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Ragoo said:

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DubFalls said:

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Ragoo said:

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$30,000 Millionaire said:

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$RUN.

This reverted to its mean, strong evidence of reversal. Daily squeeze, target $85 for me.

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$85 is a model t. I like it

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The option chain certainly thinks it gets back to $85 near term as well. I think it's a solid play.

March 19 $75 calls cost $9.9, which implies an $85 target too.

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which is why I would buy the call spread buy $75c sell $85c

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DubFalls said:

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Ragoo said:

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DubFalls said:

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Ragoo said:

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$30,000 Millionaire said:

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$RUN.

This reverted to its mean, strong evidence of reversal. Daily squeeze, target $85 for me.

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$85 is a model t. I like it

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The option chain certainly thinks it gets back to $85 near term as well. I think it's a solid play.

March 19 $75 calls cost $9.9, which implies an $85 target too.

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which is why I would buy the call spread buy $75c sell $85c

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So, I've never done a call spread. Could you clarify a couple things?

- the main idea is to pull the cost of the options down by offsetting the premium with the short option, right?
- what do exit strategies look like? If it gets to $85 just close both?

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kyle field 94 said:

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mazag08 said:

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gougler08 said:

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mazag08 said:

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Has anyone followed MMP?

Sitting at $40.59, $7 below it's lowest analyst price target.

Pays a dividend of $1.0275 quarterly.. roughly 10% cash on cash at this price. And while options chain is meh, you could sell July $52.5 call for $0.50.

Granted, 4th quarter earnings were down from 2019 due to Covid and oil being down in 2020. So some risk if they don't get back to pre-Covid levels. But if they do, the dividend will likely go even higher.

I'm watching this one. Need to do more research.

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Chart looks good if it holds above $40, may be a good play for my 401k with the dividend + still some upside if it can get to pre-Covid numbers at some point

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Yeah this would be an IRA play for me.

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Be very careful with MLPs in ira's as they can have UBTI tax issues since the mlp distributions are not taxed but instead reduce your tax basis in the asset.

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zwhag2010 said:

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Penny for your thoughts on CWH. Completed cup last week before meme stock fiasco, stock came down but has bounced back to the top of the 40 cup. Do you see this pushing for that 45 or higher in the near term. With earnings coming up I wonder if that will push it higher but the rsi shows it right at the over bought line (>70 right?)

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