Now, do I sell covered calls on CLOV today to chip away at cost basis? Last time it ripped up after earnings it shat the bed hard the next few days.

Think I'll sell it on half my position which is still way to much position sizing of my portfolio.

Edit to say... premiums kind of suck on CLOV, so nevermind.

DubFalls said:

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Let's be super bearish!

- market is already acting weak and responding very negatively to anything that isn't positive
- Tomorrow CPI data is released. Gonna show concerning inflation
- Treasury yield jumps to 2.0%
- Panic selling of equities
- QQQ at 250 at the end of the day


If that's not a reverse jinx to send SPY to $400, I don't know how to.

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to give a serious answer, SPX is in good territory at the moment. It's above the 8/21. NDX, not even close. Needs to get above 13100ish. RUT is above the 8/21. DJX kicking butt. What you need to pay attention to is the nasdaq and yields.

third coast.. said:

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Unfortunately I bought in an account that I have been waiting over a month to have options trading approved so just shares for me. Same purchase price here though.

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sell 1/3 at 7.50, 1/3 at 9.75, keep rest.

irish pete ag06 said:

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Now, do I sell covered calls on CLOV today to chip away at cost basis? Last time it ripped up after earnings it shat the bed hard the next few days.

Think I'll sell it on half my position which is still way to much position sizing of my portfolio.

Edit to say... premiums kind of suck on CLOV, so nevermind.

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negative ghost rider.

You sell covered calls above $9.

$30,000 Millionaire said:

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irish pete ag06 said:

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Now, do I sell covered calls on CLOV today to chip away at cost basis? Last time it ripped up after earnings it shat the bed hard the next few days.

Think I'll sell it on half my position which is still way to much position sizing of my portfolio.

Edit to say... premiums kind of suck on CLOV, so nevermind.

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negative ghost rider.

You sell covered calls above $9.

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I guess I need to get over the psychology of selling a CC that's lower than my cost basis.

Where would you look to sell covered calls on wwr again? Model t is around $7.70

third coast.. said:

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Unfortunately I bought in an account that I have been waiting over a month to have options trading approved so just shares for me. Same purchase price here though.

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Who is the brokerage? My brother in law has been waiting for a few weeks. I remember mine only took at few days. Not sure if there is backlog bc all the people switching over?

MGTI Form 12-B filed with SEC:

Quote:

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The Registrant is unable to file its Quarterly Report on Form 10-Q for the period ended June 30, 2020 (the "Report") without unreasonable effort or expense as the Registrant does not currently have sufficient funds to pay its independent auditor to review its financial statements for the quarter ended June 30, 2020. The Registrant is in the process of seeking alternative providers to complete the review of its financial statements. Consequently, the Registrant will not be able to timely file the Form 10-Q due on August 14, 2020, without unreasonable effort or expense. The Registrant does not expect to be able to file within the additional time allowed by this report, however, it anticipates filing as soon as practicable once it obtains sufficient funds or identifies an alternative provider.

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Well then...think this makes a rip when BTC makes it latest push or did I buy a dead horse?

third coast.. said:

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I now see where you got the 8.34. Maybe I have been looking at charts all Wong but since I have this one open, do you use the wicks or the candles to set these prices. Same goes for MT,is it the highs and lows o the wicks or the 'body' of the candle, because sometimes that can make a significant difference. Thanks!

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On support/resistance levels I look at Daily and will align the tops/bases of candles where commonality repeats. You will notice that there will almost always be wicks touching those both for support and resistance along a multi day/week/month trend line. This is also the easiest way to see cup completions on the 'left hand' side.

When in doubt in the exact price just hover over the candle and look at high/low/close.

For MT I use the top of the high wick to the bottom to the low wick for whichever period you are analyzing.

Tip - After you do these manually I often run a Fib tool which takes a few seconds to see how good or bad I got it. Amazing how that tool works that is built into all of our platforms.

For intraday or on multi day hourly if I am scalping I use the same methodology.

boy that TSLA call I bought yesterday looks good. Wow! I heard a stat, something like, when TSLA loses 1/3 of it's value, (which it has done 3 times now) it goes on a monster run afterwards.

also NIO just broke through a key level I had.

PLTR flow hitting now just fyi.

Would love for this to be the start of something for CLOV rather than just an up day with the rest of the market.

Regardless I'm in on it long, just tired of the daily cycle of new lows

I've been trying to make bearish plays on QQQ all day and obviously failing miserably.

I'm done for the day. Hold onto your butts, it's assured to dive now.

irish pete ag06 said:

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$30,000 Millionaire said:

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irish pete ag06 said:

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Now, do I sell covered calls on CLOV today to chip away at cost basis? Last time it ripped up after earnings it shat the bed hard the next few days.

Think I'll sell it on half my position which is still way to much position sizing of my portfolio.

Edit to say... premiums kind of suck on CLOV, so nevermind.

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negative ghost rider.

You sell covered calls above $9.

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I guess I need to get over the psychology of selling a CC that's lower than my cost basis.

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I look to sell these at about 10% for a week's time. Generally speaking if a stock has fallen so far that my cost is out of sight (calls at $0.00) then you're not going to get much at 10% but you're also not likely to get assigned. I've had to buy out a few of them along the way to avoid assignment but generally speaking that target has worked well, at least for stocks with <100% IV. For the more volatile stocks I may look to get like $.10 premium or so. They aren't going to make you rich but for me it's about avoiding a losing assignment.

BREwmaster said:

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boy that TSLA call I bought yesterday looks good. Wow! I heard a stat, something like, when TSLA loses 1/3 of it's value, (which it has done 3 times now) it goes on a monster run afterwards.

also NIO just broke through a key level I had.

PLTR flow hitting now just fyi.

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I've got $42.75 circled as the next big resistance. That's the MT I calculated on the 10 day.

If it breaks through that it looks like 44.90 is next.

ETA - I'm still new to charting so happy to hear where I might have mischarted.

third coast.. said:

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Fidelity on my wife's accounts. I submitted mine online but hers had to be on paper and there is noone to talk to st the office and they didn't like one box on the last one we dropped off and it takes hours to get someone kn the phone

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He has fidelity as well, so online took you a month?

Check the volume on CLOV April 16 $10 calls. Premium hasn't spiked yet but with the stock above its 3 day I think it does.

FJ43 said:

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NXTD moving

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WATT as well.

If you were buying one (or two) of these today to start a new position, which would you choose? Covered calls?

UAVS
WATT
NGL
UWMC

Just checking in, busy day at work: seeing some positive numbers from my positions today. Do we think this is a quick spike due to COVID stimulus news and that we should take some profits or continue to hold?

Thanks!

Aggie118 said:

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Just checking in, busy day at work: seeing some positive numbers from my positions today. Do we think this is a quick spike due to COVID stimulus news and that we should take some profits or continue to hold?

Thanks!

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we dont sell until we are on the moon.



related...how do we know when we are on the moon?

EGOC still waiting news and volume slowed of late. Currently has a bid in of 5,000,000 shares at .004

Somebody willing to throw a $20,000 roll of the dice at it.

June 26C, 7000 contracts, ABOVE the ASK.
2700 at the bid, but I think this was a large sweep that executed around the same price level as the price changed.

One of the 3 spideys beat me to it. Idk which one.

For a day that's been so green for me, kind of interesting to see the decline on PSXP. It's been one strong one lately but trying to see if there's more to this.

NNDM May $20 sweeping. Stock at $9