Entered a few SPY weekly 380 puts here as small hedge

59 South said:

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I bought some $TRIT and sold equivalent numbers of 2/19 7.5 puts for $0.70.

This $7.50 level is holding pretty well and setting up and inverse H&S. If not, next level down is about $6.80, or $7.50 - 0.70 for you mathematically challenged folk.

btw if inverse H&S were to play out, you're looking at 12-13 area. I'd sell covered calls and/or shares there to get the cost basis down quick.

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Thanks for the heads up. Like this selling puts here so sold the same just now and filled at .75. Long on this so will gladly take the shares for net 6.75 entry or keep their money next week.

OK veteran premium harvesters - coach me up, please.

I got back in on SNDL with 300 shares at $2.42

When it starts going back strong, how many covered calls should I write? 1 or 2? Or all 3?

Should I maybe only do 1 CC, and try to sell some of the other shares to get net free?

I would like to hold some SNDL long term, but I also want to be smart about harvesting premium and getting net free if possible.

TIA

I'm in $TRIT...also in on $TRIL, hope this **** don't get too confusing.

McInnis 03 said:

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Anyone playing the ATLAS play of the day, INFI? Cheap, with HIGH IV options. I may sell some of next weeks calls on a whim here.

Ok, so bought X shares at $5.49. Just sold next week's $10's for $1 ea. on X/2 shares. If I get called out I"m already net free and damn profitable. If not, cost of ownership just dropped down to $5 per share.

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Just bought those suckers back for $.33

FJ43 said:

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howdydamnit04 said:

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Panic sold my CLOV at 11.91... only losing $4 per share. Stupid stupid stupid.

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Maybe look to pick up some options March or May to have a reentry if you want back in outside of the wash sale rule. Just a thought.

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I've always wondered how that works... Is it from the time you buy the option or the time you exercise it/at option expiry?


What about rolling weekly options? Are those considered wash sales?

Lt. Joe Bookman said:

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FJ43 said:

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howdydamnit04 said:

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Panic sold my CLOV at 11.91... only losing $4 per share. Stupid stupid stupid.

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Maybe look to pick up some options March or May to have a reentry if you want back in outside of the wash sale rule. Just a thought.

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I've always wondered how that works... Is it from the time you buy the option or the time you exercise it/at option expiry?


What about rolling weekly options? Are those considered wash sales?

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If you sold shares at a loss its 30 days from sale to repurchase date. Not sure on the options rolling but need to check that.

Little shake n bake action going on.

FJ43 said:

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Lt. Joe Bookman said:

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FJ43 said:

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howdydamnit04 said:

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Panic sold my CLOV at 11.91... only losing $4 per share. Stupid stupid stupid.

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Maybe look to pick up some options March or May to have a reentry if you want back in outside of the wash sale rule. Just a thought.

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I've always wondered how that works... Is it from the time you buy the option or the time you exercise it/at option expiry?


What about rolling weekly options? Are those considered wash sales?

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If you sold shares at a loss its 30 days from sale to repurchase date. Not sure on the options rolling but need to check that.

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Right, so if he sold shares (at a loss) today and bought an option contract today on the same stock, I'd assume that is considered a wash sale, no matter how far out expiry is. I don't really know though.

Was BRLL posted last week? Someone in the other thread was in on it as well. I didn't remember seeing it talked about.

See, I seem to be having the opposite effect. I've picked up shares of a few different things, and it's all down. What goes down must come up, right? Right?

fightintxag13 said:

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McInnis with a great callout on the MU option flow! We making money!

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Just came here to say this too. Good call!

Lt. Joe Bookman said:

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FJ43 said:

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Lt. Joe Bookman said:

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FJ43 said:

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howdydamnit04 said:

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Panic sold my CLOV at 11.91... only losing $4 per share. Stupid stupid stupid.

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Maybe look to pick up some options March or May to have a reentry if you want back in outside of the wash sale rule. Just a thought.

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I've always wondered how that works... Is it from the time you buy the option or the time you exercise it/at option expiry?


What about rolling weekly options? Are those considered wash sales?

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If you sold shares at a loss its 30 days from sale to repurchase date. Not sure on the options rolling but need to check that.

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Right, so if he sold shares (at a loss) today and bought an option contract today on the same stock, I'd assume that is considered a wash sale, no matter how far out expiry is. I don't really know though.

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I think this will apply to the option contract as I just read it. Meaning it would be included in the wash sale rule if I am understanding correctly.

agdaddy04 said:

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Was BRLL posted last week? Someone in the other thread was in on it as well. I didn't remember seeing it talked about.

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It was at some point, for sure. May have been several weeks weeks ago because i've had it watch-listed for a while based on this or the other thread.

RigsTx said:

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TxAG#2011 said:

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I feel like a paid shill for NVDA at this point but I strongly suggest people to grab some. Clean break of it's 6 months consolidation zone, expected to blow out earnings and have a bonkers year

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Is there a good way to play this using options?

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Short-term I wouldn't be the best answer. Longer dated calls are my bet, expensive though.

So not to jinx it

Alpha
Delta
Tango
X-Ray

is having a damn day. Thanks to whoever it was that brought that one.

Anyone have thoughts on $ABML? It's another lithium play.

So I sold a big chunk of SNDL at $4.75 this morning and the feeling is we should buy back in on this dip?

FbgTxAg said:

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StrawberryFields said:

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Anyone have thoughts on $ABML? It's another lithium play.

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There's a whole thread on it on the B&I board. "To the guy who...." or something like that.

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Thanks, I rarely visit any other board, lol. There's only so much time in a day!

I will check it out though.

One for the crypto list: IDEX

"Ideanomics Inc. is focused on facilitating the adoption of commercial electric vehicles and developing financial services and fintech products. The Company's electric vehicle division, Mobile Energy Global (MEG) provides group purchasing discounts on commercial electric vehicles, electric vehicle (EV) batteries and electricity as well as financing and charging solutions. The Company's Capital division includes Delaware Board of Trade (DBOT), which is a broker dealer that also operates an Alternative Trading System (ATS) focused on the trading of traditional OTC securities, and Intelligenta provides financial services solutions powered by artificial intelligence (AI) and blockchain. Intelligenta offers its AI services for the creation of financial products, risk ratings and indexing, and selection and recommendation systems on behalf of key stakeholders. It also provides real estate title and settlement services through Timios Holdings Corp (Timios)."

Thoughts on WWR? I bought big on the dip today on a swing trade, and see that earnings are next Tuesday (with the market closed Monday). Do you foresee a run up to earnings, or any idea what the perception of their upcoming earnings look like?

StrawberryFields said:

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Anyone have thoughts on $ABML? It's another lithium play.

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Lithium is hot right now. They seem to have a solid plan and management team. But right now it's all speculative. They have no current infrastructure in place, and have not actually proven their business model that I'm aware of.

They hired a very accomplished guy from Tesla who has a lot of patents to his name, but they all belong to his previous employers and research groups. Will have to be able to come up with something new for ABML and prove it from the ground up.

For now, ABML is nearly a $2B company without any actual business to speak of. Interesting long term speculative play for sure, but I just don't see it going much higher than it is until they have something tangible to prove value.

ClutchCityAg said:

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One for the crypto list: IDEX

"Ideanomics Inc. is focused on facilitating the adoption of commercial electric vehicles and developing financial services and fintech products. The Company's electric vehicle division, Mobile Energy Global (MEG) provides group purchasing discounts on commercial electric vehicles, electric vehicle (EV) batteries and electricity as well as financing and charging solutions. The Company's Capital division includes Delaware Board of Trade (DBOT), which is a broker dealer that also operates an Alternative Trading System (ATS) focused on the trading of traditional OTC securities, and Intelligenta provides financial services solutions powered by artificial intelligence (AI) and blockchain. Intelligenta offers its AI services for the creation of financial products, risk ratings and indexing, and selection and recommendation systems on behalf of key stakeholders. It also provides real estate title and settlement services through Timios Holdings Corp (Timios)."

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I've been in this one for a couple of weeks. Hasn't lost me anything yet so that's cool