I was having similar issues today. Don't trade options on that account yet. Been testing TDA the last month and am not sure about it yet.

kyle field 94 said:

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jwhitlock3 said:

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After hours question, trying to catch it will things are slow.

When you sell a covered call, how does the broker assign which of your shares to sell? Is it set the same as the default? For example, say I've reached my max limit of shares I want to hold with WWR, 1000 shares at $5 average, but I want to pick up another 400 "trading" shares and cover half those with 7.5calls and hold the over half just to swing.



In this case, I have it set to sell off the highest cost shares first, but I wasn't sure if this applies to covered calls as well. Anyone know?

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In Fidelity, under "closed positions", you have 2 days to adjust which shares get selected. When I have had shares get called out against me, I have adjusted which shares get selected. It is helpful to manage long term vs short term gains, and also when trying to manage wash sale rules / situations

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That's exactly what I was looking for, thank you! I use the "closed positions" tab all the time and had no idea you could adjust which shares are being selecting, I will have to watch for this next time they're called.

Not sure how many are in these two, but FLNT held up well. Working to build net free position on this as I see the macro levels for this trending towards a baby MGNI.

Second is AQMS which took a decent hit today but still see value in their model on the battery recycling sector and may get a sector bump as EV gets pushed by the admin for the US to become a market leader. I'm working to build net free on this one as well

Curious if anyone has input on either or related competitors.

FJ said:

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Quote:

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great post sir... Yeah trendline from March is 3800, below there for very long and it gets ugly.

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When you step back and look at that overall trend it's really been pretty clean. Except....the last week. It's been a battle in this range also evidenced by the volume. Just a mess but I like to think consolidation before next breakout. At least that's my glass half full wish.

Someone will win.

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Agree, I'm hoping Adam's big bull flag proves to be correct (consolidation). He is not wrong often!

jwhitlock3 said:

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kyle field 94 said:

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jwhitlock3 said:

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After hours question, trying to catch it will things are slow.

When you sell a covered call, how does the broker assign which of your shares to sell? Is it set the same as the default? For example, say I've reached my max limit of shares I want to hold with WWR, 1000 shares at $5 average, but I want to pick up another 400 "trading" shares and cover half those with 7.5calls and hold the over half just to swing.



In this case, I have it set to sell off the highest cost shares first, but I wasn't sure if this applies to covered calls as well. Anyone know?

---

In Fidelity, under "closed positions", you have 2 days to adjust which shares get selected. When I have had shares get called out against me, I have adjusted which shares get selected. It is helpful to manage long term vs short term gains, and also when trying to manage wash sale rules / situations

---

That's exactly what I was looking for, thank you! I use the "closed positions" tab all the time and had no idea you could adjust which shares are being selecting, I will have to watch for this next time they're called.

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Good to know this. Assume other brokers have the same option. I'll be looking into this for future reference as well.

Was away most of today and shocked to see XL hit $12. It was because of a short call from muddywater research. XL CEO was on with Cramer just last night too. Good buying opportunity IMO

Hi guys, long time lurker to this forum, thank you greatly for all the wisdom. I have been just a buy and hold guy, but have recently been getting my feet wet with covered calls, and now looking at selling puts. Like the idea of trying to make some low risk passive income through selling puts. What am I missing looking at the 10/15/21 $1 put on DNN. Premium is right around .45. That is a 45% return right off the bat, and share price would have to dip below .55 to lose any money. I understand you want to sell puts on stocks you are bullish on, and most here are bullish on DNN. Good chance DNN would be over $1 on 10/15, and you just made a easy 45%. Low risk because you are essentially making money on any share price above .55 on 10/15. Please advise if I am looking at this wrong. Thanks!

E said:

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Is NIO going to bust through $40 going the wrong way? Certainly looks like it... makes me wanna cry

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Same. I'm fighting the urge to sell and maintain some profit.

You're not looking at it wrong, seems like you're grasping it. One downside to keep in mind is that the capital associated with covering the puts will be locked up until expiration or until you buy the puts back.

This is insane futures action.

Mostly Foggy Recollection said:

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Fight for 3800 right now

We may test 3780 overnight

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Yup

QQQ is taking giant sh/t all over itself right now

So did you already have UBER or buy the shares when it was tweeted?

agdaddy04 said:

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So did you already have UBER or buy the shares when it was tweeted?

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Covering my /NQ shorts right now. Missed the /VX rally. Still net long equity but hedges help.

$30,000 Millionaire said:

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This is insane futures action.

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So do we want futures to be down right now to hope for a green open? Always wondered this

Still in UBER calls? Didn't go high enough for net free for me

agdaddy04 said:

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So did you already have UBER or buy the shares when it was tweeted?

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Bought them when I saw his tweet, in @ $1.25 out @$2.50...just wish I had had more cash available when the opportunity arose.

Aggiesincebirth said:

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$30,000 Millionaire said:

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This is insane futures action.

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So do we want futures to be down right now to hope for a green open? Always wondered this

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I think a green open is unlikely, but it is possible it can be better than what it is. I think this is rate oriented. Of course anything can happen. I don't think we limit down but it's possible.

Aggiesincebirth said:

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$30,000 Millionaire said:

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This is insane futures action.

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So do we want futures to be down right now to hope for a green open? Always wondered this

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doesn't matter a lot honestly, but futures down 30 is not a good look. Just need to hold 378 and change, linger there a long time though is not a good thing.

zwhag2010 said:

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Still in UBER calls? Didn't go high enough for net free for me

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I'm still in them, hopefully don't regret that tomorrow. UBER had great relative strength today though despite a brutal market.

Yowza.

I'm not sure if I'm looking at the right thing but it looks like we bounced hard off 3780 in the last 15 min back up to 3795. Am I seeing that correct? I love when y'all post key levels so I know what to look for

If anyone wants to know who is the antithesis of Cathie Woods, it's this guy Tom Lee. Wow.

Anyone else have their eye on IVR? Been looking for Covid plays and this one still has growth potential.

What am I missing here?

Already testing SPY 379.80.

Morning FJ. Always appreciate the morning motivation for battle haha!

Some of our MAs continue to tempt us with discounts/BTFD but I'm still trying to sit on my hands and nibble on limit orders.

OutlawAG04 said:

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Morning FJ. Always appreciate the morning motivation for battle haha!

Some of our MAs continue to tempt us with discounts/BTFD but I'm still trying to sit on my hands and nibble on limit orders.

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Morning!

Yes they do. I feel both like I need to add some here and also trim some. Often the best thing is to do nothing at all and wait for a true technical bottom/reversal vs. the emotional one. Easy to say and hard to do though.

I still think a lot of tech is dropping due to material shortage. This chip shortage is real and it's all due to substrates. I've brought this issue here a while ago.

Looks like another tough day ahead. The Uber calls helped me a lot yesterday ! Time to sit on cash and wait.