Is MBIO done? I sold covered calls and am hedged a little but it is now getting a little concerning. Thoughts?
Stock Markets
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Last: 6 min ago by confucius_ag
Some thoughts for you all:
I am buying shares, selectively, in scales as we go down here at technical levels and prices that are acceptable to me. I am not entering covered calls yet because I want a bounce to do so. Crypto and metals/miners are being pummeled. I am comfortable buying shares and not trying to get the exact bottom because I can sell covered calls and find a way to break even in the worst case over time.
At this point, I have used 20% of my planned dry powder for a pull back. While it's possible we have bottomed, I am looking for this Monday/Tuesday to be the pit bull low leading into OPEX.
I am selling puts at technical levels or on extreme moves, like OPEN. I am not shorting and I am not buying any type of long options until there is evidence the indexes are reversing. For the small amount of options I have, I am holding through the pain because there will be a better exit and I am position sized correctly. I plan to play big on a margin call Monday, if it happens.
I am buying shares, selectively, in scales as we go down here at technical levels and prices that are acceptable to me. I am not entering covered calls yet because I want a bounce to do so. Crypto and metals/miners are being pummeled. I am comfortable buying shares and not trying to get the exact bottom because I can sell covered calls and find a way to break even in the worst case over time.
At this point, I have used 20% of my planned dry powder for a pull back. While it's possible we have bottomed, I am looking for this Monday/Tuesday to be the pit bull low leading into OPEX.
I am selling puts at technical levels or on extreme moves, like OPEN. I am not shorting and I am not buying any type of long options until there is evidence the indexes are reversing. For the small amount of options I have, I am holding through the pain because there will be a better exit and I am position sized correctly. I plan to play big on a margin call Monday, if it happens.
Also, I am buying back covered calls that are long dated that have 75% profit or more (e.g. I bought back August PLTR 60C)
Just unloaded most of my available trading cash on PLTR <23. I don't care if I nailed it or not. Long tail on the daily. I had always targeted <23. 3-6 month trade.
I'm out. Weekend begins now. Y'all enjoy the fun!
I'm out. Weekend begins now. Y'all enjoy the fun!
SPX 3805 is Mancini level
This has been my approach on longer hold stocks that I wouldn't mind averaging down on. I've been selling quite a few naked puts for decent premium at strikes that would have seemed crazy a few weeks ago. I have a few that have gone in the money, but if I get assigned so be it....with the juiced premiums my entry will be far less than if I had tried averaging down over the past several days. And I think if we get a modest bounce off this correction in the coming weeks, I will end up with very few that actually expire in the money, so just pocket some decent premium. Either way I'm fine with the result.$30,000 Millionaire said:
I did sell April $OPEN 17P for 2.30. I'll own that for $14.7
Don't look now UBER moving good
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
DisAg said:There is some reporting going around that the original shorts from the gamma squeeze. They report that they "Faked" covered. A lot of it is WAY above my head, but it has to do with calling long options to fake cover? I maybe off on the linguistics of it, but either way it is illegal.Jet Black said:DisAg said:
I have this feeling gme is going to rip AH
Because?
Anyways, they are saying depending on what GME stays at on close, a lot of margin calls will be called by EOD today. 135 = x margin calls, 140 = more x margin calls, etc etc. So the higher it finishes at EOD, the more margin calls made, which means the shorts have to really cover unless they pull shenanigans again.
Maybe a bunch of BS, but the fact the price has stayed steady despite the market correction leads me to believe they might be on to something.
Disregarding the squeeze squoze timeframe question
ETFs are buying meme stocks and driving volume up. It may go up for a while yet before bottom drops.
I sold my entire position for a real nice gain with zero plans on getting back in.
YNWA_AG said:PWestAg18 said:
Anyone who is much smarter than me and know what they're doing with charts have any advice on AMD's movement? Last three months have been up and down with an overall downward trend.
I've held amd since the 10s. Amd loves to trade in these ranges for months. Amd traded in the 9 to 12 range for around half a year in 17/18.
Same thing around the 30s and 50s. Same type of range going on now. I would definitely load up if ever gets close to that 74-75 mark.
OA, foggy, 30k or someone else might be able to provide more insight for you.
amd and Xilinx are positioned to make a combined 20 bil in revenue around 2022-2023. Intel is expected to be not competitive at all until late 2021, but more likely 2022. Very bullish the next couple of years personally.
Funny how that 74 Support line worked today on AMD. Like we know things.
We crossed MT on yesterday's SPY H/L. Lets go keep it up BULLS don't lose this level !
383.60 is MT from SPY high to yesterday's low if anyone is wondering.
383.60 is MT from SPY high to yesterday's low if anyone is wondering.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
I also bought back WWR April 7.5C early at 60% profit. I am going to wait for a bounce and will resell a further out 7.5 or 10C
i am also OK with round tripping this (e.g. it gets back to 80% of what I sold it for on a bounce, I will sell it again).$30,000 Millionaire said:
I also bought back WWR April 7.5C early at 60% profit. I am going to wait for a bounce and will resell a further out 7.5 or 10C
Stocks are literally mirroring each other's movement. One stock dips, they all dip, one stock goes up, they all go up.
When you do this how far out is "further"? and I assume you don't do your entire position of covered calls but a percentage correct? Assuming you own the stock and selling calls is how I am reading this?$30,000 Millionaire said:i am also OK with round tripping this (e.g. it gets back to 80% of what I sold it for on a bounce, I will sell it again).$30,000 Millionaire said:
I also bought back WWR April 7.5C early at 60% profit. I am going to wait for a bounce and will resell a further out 7.5 or 10C
Closing out the short side of several verticals I am in. Still 2 weeks on them but if we do get a strong move I don't have to fight the long call with the paired short call. I can sell a rip.
Careful on AMD. 74 is strong support, but below that is an elevator ride.
Mostly Foggy Recollection
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SQ is stupid cheap. Bought 500 shares at 195 and 4/16 250s that I'm up 6500 bucks on.
I know there has been tension about some of these MA or smaller plays and their drop. Take a look at some intraday today vs. a beta name. Look at AAPL or AMZN for example. 3-10% swings tops in most cases.
DNN, SNDL, etc 20% + with some of them even more.
Edit: All to say these can come back fairly quickly as well.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Just got the margin call so made a deposit to cover.
Is it as delicious as I think it is? I probably drink more topo chico than actual water at this point59 South said:You got it. QQQ to the moon!BenRev09 said:
LOL not fair that it's already happy hour across the pond, rubbing salt in the wound
Let it ride
DisAg said:There is some reporting going around that the original shorts from the gamma squeeze. They report that they "Faked" covered. A lot of it is WAY above my head, but it has to do with calling long options to fake cover? I maybe off on the linguistics of it, but either way it is illegal.Jet Black said:DisAg said:
I have this feeling gme is going to rip AH
Because?
Anyways, they are saying depending on what GME stays at on close, a lot of margin calls will be called by EOD today. 135 = x margin calls, 140 = more x margin calls, etc etc. So the higher it finishes at EOD, the more margin calls made, which means the shorts have to really cover unless they pull shenanigans again.
Maybe a bunch of BS, but the fact the price has stayed steady despite the market correction leads me to believe they might be on to something.
Interesting
Mostly Foggy Recollection
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I'm exhausted at 1218 on a Friday.
I need a Booker's or Angels Envy neat.
I need a Booker's or Angels Envy neat.
It is truly outstanding. Saw it at Sainbury's the other day and impulse bought this and a tangy lemon lime flavour as well which is ok but not nearly as good as this one. I was shocked to see this here. Brexit maybe? Somehow they now have legit tortillas here now too instead of just old el paso. Times are a changin.ClutchCityAg said:Is it as delicious as I think it is? I probably drink more topo chico than actual water at this point59 South said:You got it. QQQ to the moon!BenRev09 said:
LOL not fair that it's already happy hour across the pond, rubbing salt in the wound
Same.
Put me down for 2 Cold Snacks and a PB&J
Put me down for 2 Cold Snacks and a PB&J
Really should have bought more 390 SPY calls. F
11K+ OI on those.. then you scroll to 2.5C and it's 10x that.
And 97 OI for 2C; practically the same price as the 2.5C.
And 97 OI for 2C; practically the same price as the 2.5C.
Mostly Foggy Recollection
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Yes
Mostly Foggy Recollection
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Up 19 bucks a share on SQ Buy... let's roll!
I just got filled for.29 on them.third coast.. said:
$DNN April 1c for .22. Seems pretty good.
Why hello fruit. You just turned green.
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