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ClutchCityAg
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In reply to FriskyGardenGnome • 9:55a, 3/3/21
gotsand said:
Why is almost 90% IV an amazing deal?
Wasn't looking at IV. I was just thinking that for a smaller account like mine where 100 shares of PLTR at 25 a share would be too much of my portfolio to commit to a single stock, a 25C almost 2 years from expiration is half the price and gives me the control of the same amount of shares for less than half the price.

Honest question.. what would be the downside on this? I could even turn it into a calendar and sell weekly or monthly calls against to lover the cost basis even further
Let it ride
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McInnis 03
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In reply to TecRecAg • 9:58a, 3/3/21
AG
TecRecAg said:
I have a sneaking suspicion you'll be talking to yourself about this very post in the near future.
If I ever mention PLTR, y'all remind me to DIAMOND HANDS, YOU DON'T BUY SOMETHING WITH 2 YRS ON IT TO DITCH IT IN A WEEK/MONTH/QTR.
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
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BrokeAssAggie
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In reply to BrokeAssAggie • 9:59a, 3/3/21
CrazyRichAggie said:
See if UBER can break $55.75
Model T achieved. Let's see if she can run now.
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In reply to McInnis 03 • 9:59a, 3/3/21
FishrCoAg
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In reply to [removed post] • 10:01a, 3/3/21
AG
third coast.. said:
McInnis 03 said:
ClutchCityAg said:
PLTR Jan 2023 25Cs are about 11.00 right now... that seems like an amazing deal to control $2500 worth of shares for that long
I continue to add here as price decreases. That probably means you all should stay the **** away.
so let me get this straight...you can sell calls against this option contract and rake in premium against it? Is that correct?
Yes
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ClutchCityAg
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In reply to [removed post] • 10:01a, 3/3/21
third coast.. said:
McInnis 03 said:
ClutchCityAg said:
PLTR Jan 2023 25Cs are about 11.00 right now... that seems like an amazing deal to control $2500 worth of shares for that long
I continue to add here as price decreases. That probably means you all should stay the **** away.
so let me get this straight...you can sell calls against this option contract and rake in premium against it? Is that correct?
Calendars are my newest obsession
Let it ride
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Jet Black
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In reply to [removed post] • 10:01a, 3/3/21
third coast.. said:
McInnis 03 said:
ClutchCityAg said:
PLTR Jan 2023 25Cs are about 11.00 right now... that seems like an amazing deal to control $2500 worth of shares for that long
I continue to add here as price decreases. That probably means you all should stay the **** away.
so let me get this straight...you can sell calls against this option contract and rake in premium against it? Is that correct?


Same question and I assume you are fine with the chance you could be called out quickly?
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McInnis 03
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In reply to [removed post] • 10:02a, 3/3/21
AG
third coast.. said:
McInnis 03 said:
ClutchCityAg said:
PLTR Jan 2023 25Cs are about 11.00 right now... that seems like an amazing deal to control $2500 worth of shares for that long
I continue to add here as price decreases. That probably means you all should stay the **** away.
so let me get this straight...you can sell calls against this option contract and rake in premium against it? Is that correct?
Yes, but fair warning from a guy (or 3) who has been there and done that......

When you sell against a leap, if the damn thing runs past your short call, now you're trapped in a diagonal where you're watching your long LEAP climb like an Everest Sherpa and your short call could get called against you. All of a sudden you could be in a situation where you have to exercise the LEAP to cover the short call and alllllllllll that premium gets lost in the shuffle because you probably sold for baby premium on a shorter dated call.

Remember SAVA a couple weeks ago? I had sold what I surely thought were safe calls about $30-$40 out of the money before the news on my $25 leaps. Then SAVA runs to $100+ and I'm fightning to keep from getting called out at $55 where my LEAP value was damn near $80+. It was stressful and difficult to watch and massage. I made it through with a couple left behind but it was less than I could have been if I hadn't pinched pennies.

I guess what I'm trying to say is that if you truly believe (like I am in PLTR) you may want to wait because that thing can run like a horse.
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
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LarryL
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In reply to McInnis 03 • 10:02a, 3/3/21
McInnis 03 said:
TecRecAg said:
I have a sneaking suspicion you'll be talking to yourself about this very post in the near future.
If I ever mention PLTR, y'all remind me to DIAMOND HANDS, YOU DON'T BUY SOMETHING WITH 2 YRS ON IT TO DITCH IT IN A WEEK/MONTH/QTR.
I have to remind myself of this DAILY on all my long dated options. Unfortunately I'm a slow learner and still look at them daily.
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FriskyGardenGnome
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In reply to ClutchCityAg • 10:03a, 3/3/21
AG
The high IV means you're paying for expected volatility in the stock. That is, a large price move is included in your purchase already. Long story short, they are expensive relative to the current price. This is why many choose to sell options when IV is high. IV crush is real.

Doesn't mean you won't or can't make money on these, not by a long shot.

Here's a pretty basic overview of high IV options and considerations for owning them.
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PuryearAg98
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10:04a, 3/3/21
AG
RIG at $4...
From $0.65 to $4 in 4 months... My portfolio thanks you!
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leoj
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10:06a, 3/3/21
AG
$70 keeps getting defended on $DKNG
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10:06a, 3/3/21
McInnis 03
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In reply to FriskyGardenGnome • 10:07a, 3/3/21
AG
gotsand said:
The high IV means you're paying for expected volatility in the stock. That is, a large price move is included in your purchase already. Long story short, they are expensive relative to the current price. This is why many choose to sell options when IV is high. IV crush is real.

Doesn't mean you won't or can't make money on these, not by a long shot.

Here's a pretty basic overview of high IV options and considerations for owning them.
One man's high IV is one man's low IV.

I was just perusing GME and RKT options.........
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
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FriskyGardenGnome
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In reply to [removed post] • 10:09a, 3/3/21
AG
Likely an interday observation. It's got no support on daily/weekly bars -- but I only looked 5yrs back.
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mazag08
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10:10a, 3/3/21
AG
I just bought back my REI March $5 CC for 1 cent.

It wasn't going to get called out, but now I wait for a run up and sell more.

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FriskyGardenGnome
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In reply to McInnis 03 • 10:11a, 3/3/21
AG
McInnis 03 said:
gotsand said:
The high IV means you're paying for expected volatility in the stock. That is, a large price move is included in your purchase already. Long story short, they are expensive relative to the current price. This is why many choose to sell options when IV is high. IV crush is real.

Doesn't mean you won't or can't make money on these, not by a long shot.

Here's a pretty basic overview of high IV options and considerations for owning them.
One man's high IV is one man's low IV.

I was just perusing GME and RKT options.........
GME '23 ATM leaps are trading around 130% IV. That alone should tell you what 90% implies.
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McInnis 03
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In reply to FriskyGardenGnome • 10:12a, 3/3/21
AG
gotsand said:
McInnis 03 said:
gotsand said:
The high IV means you're paying for expected volatility in the stock. That is, a large price move is included in your purchase already. Long story short, they are expensive relative to the current price. This is why many choose to sell options when IV is high. IV crush is real.

Doesn't mean you won't or can't make money on these, not by a long shot.

Here's a pretty basic overview of high IV options and considerations for owning them.
One man's high IV is one man's low IV.

I was just perusing GME and RKT options.........
GME '23 ATM leaps are trading around 130% IV. That alone should tell you what 90% implies.
TOS shows me GME JAN23 is 144%.......either way, tells me PLTR is wayyyyyyyyy calmer than GME.
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
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FriskyGardenGnome
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In reply to FriskyGardenGnome • 10:13a, 3/3/21
AG
And, ATM '23 RKT calls are 67% IV
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fightintxag13
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10:13a, 3/3/21
AG
Sooo selling UWMC CC's on this morning's pop was a pretty good idea...
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Jet Black
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10:14a, 3/3/21
Question

PLTR is currently trading right under $25.00. Seems like a decent chance it will hit $25 fairly soon. Why wouldn't you sell a call fairly far out, pocket the large premium, if you are fine with getting called out in the short term?
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McInnis 03
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In reply to FriskyGardenGnome • 10:14a, 3/3/21
AG
80, but RKT is lame-o.
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
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In reply to FriskyGardenGnome • 10:14a, 3/3/21
tramaro1
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10:15a, 3/3/21
AG
Was in meetings this morning and missed the chance to sell my calls of UWMC as well as capitalize on selling cc with the run up
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McInnis 03
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In reply to Jet Black • 10:15a, 3/3/21
AG
Jet Black said:
Question

PLTR is currently trading right under $25.00. Seems like a decent chance it will hit $25 fairly soon. Why wouldn't you sell a call fairly far out, pocket the large premium, if you are fine with getting called out in the short term?
I sell CC's on my shares too in the shorter term.
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
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zag213004
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10:16a, 3/3/21
AG
WWR keeps using 100 d ema as support... Would this be a good entrance for straight shares ? or maybe selling some puts?
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mazag08
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10:16a, 3/3/21
AG
I just set a limit order to sell my UBER $57 call for $3.00. Just in case it runs to $59 while I'm working and not paying attention.
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KT 90
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In reply to BrokeAssAggie • 10:17a, 3/3/21
AG
CrazyRichAggie said:
CrazyRichAggie said:
See if UBER can break $55.75
Model T achieved. Let's see if she can run now.

pushing $57 now
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FriskyGardenGnome
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In reply to FriskyGardenGnome • 10:17a, 3/3/21
AG
Interesting, my TOS says 20 JAN 23 120C GME are 133.43% IV.

Now do RKT.

Anyway, your point is made. You do you.
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Swollen Thumb
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In reply to ag94whoop • 10:17a, 3/3/21
AG
ag94whoop said:
This is NOT a whining about losing money on CLOV post. It is a discussion of future post for those of us that are deep in this stock at a negative position and want to create a long term strategy with it.

I am trying to figure out if CLOV has dove nearly 40% exclusively on nothing but negative news, or if it is being seriously shorted and it will eventually short squeeze and shoot back up.

shorts were only about 6.5% of float on Feb 12, but price was in low 12s already. I am thinking that shorts have been working this stock really really hard to drive it wayyyy down. And without much positivity, there hasnt been anything to slow it down. Most retail investors that were stubbornly in it for the short squeeze, eventually bailed.
I honestly NEVER thought it would fall below $10 since thats where it opened and its all time low was like $9.90

the real question on a stock like this, is what are the key timelines where we should be seeing reversal?
mid-April after all the daily lawsuit notifications stop?
Late May leading up to next the next earnings report?
Or end of year?
Every stock I buy long, I go in with the attitude (and position size) that I can hold it as long as needed. If nothing else, I can sell premium on it to lower basis while being patient. See 59's recent posts regarding positions he was way in the red on that eventually recovered and ran. If you have a comfortable position size, patience isn't difficult and often pays off. But I can only assume from your posts and heartburn over CLOV (and other stocks), it appears you may have over-committed to the point where you can't afford to be patient.

One position should NEVER cause you the amount of angst you've expressed on this board over CLOV. If so, then you might consider reevaluating your risk tolerance and adjust your position size in any single stock accordingly.

CLOV is currently my largest position by a decent amount, but still only ~15% of the portfolio in my trading account not including the 20%-30% I generally keep in cash so that I always have some dry powder without having to sell a current position. Yes, of course it stings to see it drop so much. But I have it tucked away and am willing to sit on it for a good while to see what it does and won't lose sleep. I'm in a position where I don't need to sell....and it isn't a loss until it do. Plus, I have CCs and puts sold on it so continue to lower my basis bit by bit while I hang tight.
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FJ43
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10:17a, 3/3/21
EGOC back at .035 for any buyers to rinse and repeat.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

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BrokeAssAggie
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In reply to KT 90 • 10:17a, 3/3/21
KT 90 said:
CrazyRichAggie said:
CrazyRichAggie said:
See if UBER can break $55.75
Model T achieved. Let's see if she can run now.

pushing $57 now
Just broke it. Let's go!
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zag213004
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In reply to KT 90 • 10:18a, 3/3/21
AG
KT 90 said:
CrazyRichAggie said:
CrazyRichAggie said:
See if UBER can break $55.75
Model T achieved. Let's see if she can run now.

pushing $57 now


Looking at the daily 3month timeframe.... Do I see a W forming?
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McInnis 03
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In reply to FriskyGardenGnome • 10:18a, 3/3/21
AG
We all do we. Tons of ways to win and lose. I'm better at the latter.
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
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In reply to Jet Black • 10:18a, 3/3/21
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