Yikes... I've had a damn near nightmare of a day at work and finally looks at my trading account... down 8% for the day talk about double whammy
Mainly thanks to NIO!
Mainly thanks to NIO!
What's the buy price of your 800 shares?Jet Black said:
Options gurus. I currently own 800 shares of FUBO. If I sell covered calls, MAR 12 55c, is that a smart move? What is my downside, I potentially have to sell at $55?
mc_shipman said:
On the upside, as my account shrinks 5% losses become smaller and smaller sums of money!
Man I get it, but dropping from a 57 close to 42 is crazy!YNWA_AG said:
Classic buy the rumor and sell the news case
Pretty normal. Typical SPAC movement is steady upward trend as rumors of a merger start, then a sharp drop off after merger announcement, then steady upward trend until ticker changes, and then another sharp drop off.Lt. Joe Bookman said:Man I get it, but dropping from a 57 close to 42 is crazy!YNWA_AG said:
Classic buy the rumor and sell the news case
Is that normal for SPACs? Seems like CCIV to Lucid was the worst kept secret.
That's a good entry price. It's down AH so if that continues into the open then the 55 calls will be less than 2. The chart is kinda in no-mans land, it could go lower or reverse. If it were me, based on the firms that have taken large positions in FUBO the past couple of weeks, I'd nut up and hold off writing CCs at this level. The market could get a relief rally and if so, you could write the 60-65s for the same premium as the 55s today. JMO.Jet Black said:
$42
Prognightmare said:That's a good entry price. It's down AH so if that continues into the open then the 55 calls will be less than 2. The chart is kinda in no-mans land, it could go lower or reverse. If it were me, based on the firms that have taken large positions in FUBO the past couple of weeks, I'd nut up and hold off writing CCs at this level. The market could get a relief rally and if so, you could write the 60-65s for the same premium as the 55s today. JMO.Jet Black said:
$42
BayAg_14 said:
Essentially yes. If the option contract is exercised at the strike price you would miss out on any profits over $55.
Smart move depends on your price bias; however, the implied vol seems reasonably healthy, although not sure how it rates over its short history, but assume its elevated given earning are within the exercise window. If this implied vol is much weaker than typical than maybe not so smart (unless your price bias is lower).Jet Black said:
Options gurus. I currently own 800 shares of FUBO. If I sell covered calls, MAR 12 55c, is that a smart move? What is my downside, I potentially have to sell at $55?
Great post 30k$30,000 Millionaire said:
not claiming to be a master trader, but if it is helpful to anyone, here is what I did:
- I knew /ES & /NQ were in no mans land last week, I significantly lightened up mostly by not rolling covered calls or intentionally selling ITM calls against shares I owned so that I would get assigned (or keep shares with major downside protection
- I hedged last week for March expiration
- I made a decision to trade very lightly this week, but would scoop up opportunities that I thought made sense (e.g. PSNL or DADA from today)
- I sold March covered calls this morning on everything I kept optimizing for OTM and premium bearing (not so far up there I couldn't command premium, but not so close it's highly likely to be assigned)
- Today, I sold puts on select items I want to get into and believe I can monetize if I have to through covered calls in the future to drive costs down
- Most importantly, I did not panic and I ignored the unrealized loss. Market is still in an uptrend
This is one of those stocks I truly dont understand. they are doing everything right except go up.Ags2013 said:
UWMC at sub 8 is crazy. The financials don't support that at all.
$30,000 Millionaire said:
guess what! we've got good setups.
AAPL says hi.ag94whoop said:This is one of those stocks I truly dont understand. they are doing everything right except go up.Ags2013 said:
UWMC at sub 8 is crazy. The financials don't support that at all.
This could EASILY be a 1.5-2x stock given its 3 month history but its been falling this entire month.
I am curious where bottom will be. I thought I bought at bottom around $9 but it has continued to set historical lows every week. At some point it has to turn up given its financials, right? Where is bottom?
TSLA is trading at -3ATR, hasn't traded at -3ATR since late last March.... up 9x since then.YNWA_AG said:
ARK bought around 200 mil of Tesla today
What does -3ATR mean?Ragoo said:TSLA is trading at -3ATR, hasn't traded at -3ATR since late last March.... up 9x since then.YNWA_AG said:
ARK bought around 200 mil of Tesla today