Jet Black said:

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Do covered calls only make sense if the stock is a long term hold?

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Nope, it's a good profit generator but just only sell them on prices you are ok with being called out so that you don't chase it

They're great until you sell MARA CCs at $45 and $47 and now its pushing $57

gougler08 said:

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Jet Black said:

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Do covered calls only make sense if the stock is a long term hold?

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Nope, it's a good profit generator but just only sell them on prices you are ok with being called out so that you don't chase it

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This is a lesson I learned early on on a few that ran and ended up getting called out on everything. So now on things I may want to have some long-term exposure on I will sell covered calls on 50% or 75% of my position at a price that may take me net free on my remaining shares or if the options expires....do it again....wash, rinse, repeat to effectively lower you basis by generating a return on on your held shares.

AgCPA95 said:

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gougler08 said:

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Jet Black said:

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Do covered calls only make sense if the stock is a long term hold?

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Nope, it's a good profit generator but just only sell them on prices you are ok with being called out so that you don't chase it

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This is a lesson I learned early on on a few that ran and ended up getting called out on everything. So now on things I may want to have some long-term exposure on I will sell covered calls on 50% or 75% of my position at a price that may take me net free on my remaining shares or if the options expires....do it again....wash, rinse, repeat to effectively lower you basis by generating a return on on your held shares.

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Same here...getting in a cycle of having to constantly roll on something that rockets is tough

FJ43 said:

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57.2k AAPL 4/16 130s sold today. 80k OI still.

That's a few and someone is confident.

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There's a gap to 133 so if it hits he's gonna bank

I'm in 130 to 135 through end of the month

If the price of the underlying stock shoots up in the short term and you want to sell, do you buy the call back at a loss? Or just wait it out and hope you don't lose the shares. On the other hand, if the share price drops, you can buy the call back at a profit (or it just expires for 100% gain), but you are stuck with shares.

I feel like I'm still not understanding this fully. Mainly, when is the best time to sell cc's and what is the ideal strike price in relation to the share price?

Woah

DubFalls said:

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Again!??

McInnis 03 said:

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DubFalls said:

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Again!??

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What is it?

Tweet deleted

MGTI filed a "Notification of inability to timely file Form 10-K" last Wednesday and included in it is the following:

Quote:

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The Registrant expects to report a net loss of approximately $3,774,000 for the twelve months ended December 31, 2020 compared to a net loss of approximately $8,781,000 for the twelve months ended December 31, 2019. The Registrant expects to report revenue of approximately $1,440,000 for the twelve months ended December 31, 2020 compared to revenue of approximately $450,000 for the twelve months ended December 31, 2019.

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Those are certainly not small losses, but going from 8.78MM in loss for 2019 to 3.77MM in loss for 2020 is at least moving in the right direction, and revenue up from 450k to 1.44MM is good. Still one I'm dumping, but wanted to share some decent news. Expecting this to move with the next BTC push.

CrazyRichAggie said:

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McInnis 03 said:

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DubFalls said:

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Again!??

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What is it?

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Someone on the Twitter saying Credit Suisse has millions more shares of CBS Viacom to unload.

Might not be true then. I really wanted it to be though.

Irish 2.0 said:

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I NEVER buy a CC back at a loss. When I sell a CC, I have made peace with the thought that I'd be called out on them and can always go back in at another time.

Sell CC after spikes. Sell naked puts at entries you'd be okay with.

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I agree with this, so I have bought them back at a loss when a stock pulled back and was reversing. Then either sold another CC or sold the shares on a spike.

My plan is to get called out or if I can move up and out a month and pocket enough ROR I'll roll.

Tomas Hermensa said:

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Irish 2.0 said:

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I NEVER buy a CC back at a loss. When I sell a CC, I have made peace with the thought that I'd be called out on them and can always go back in at another time.

Sell CC after spikes. Sell naked puts at entries you'd be okay with.

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I agree with this, so I have bought them back at a loss when a stock pulled back and was reversing. Then either sold another CC or sold the shares on a spike.

My plan is to get called out or if I can move up and out a month and pocket enough ROR I'll roll.

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In the last month of markets you could easily get called out then wait for the pullback to re enter on stocks. Particularly the high beta ones I tend to buy too many of.

Or you could sell the call and then the stock immediately tanks.

Out in Left Field said:

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They're great until you sell MARA CCs at $45 and $47 and now its pushing $57

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Or Gamestop sold at $20 when it traded for $50. That was fun

Possible Demark 9 on ES with tomorrows candle.

https://www.nasdaq.com/articles/senior-focused-healthcare-platform-agilon-health-files-for-a-%24100-million-ipo-2021-03-18

Is anybody aware of AGL - Agilon Health upcoming IPO?

Is it a competitor to CLOV?

$30,000 Millionaire said:

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jimmo said:

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sold a covered call.. 1st time


premium was 8$ ?
am i looking at that right?
(its ok to laugh)

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Congratulations! it's $8 you weren't going to get before and no better way to learn than on a really high probability play.

Next time, try to go a month out.

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thanks 30K

What's the argument for weeklys vs monthly's? I've always seem to write weeklys - the decay is fast fast on the weeklys. Other than most stocks don't have a weekly option.

If there's little time, the premiums for weekly CCs are typically low unless you sell really close to current price. I've found that I could sell monthly above some type of support and be more likely to get decent premium.

yukmonkey said:

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Anyone else got the "I owned MARA at $2" bullets in the revolver about now?

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All sold in the 4s

yukmonkey said:

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Anyone else got the "I owned MARA at $2" bullets in the revolver about now?

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still have some net free shares I'm happy about, but thank you for making me look back and think about the 4k shares I sold single digits.

yukmonkey said:

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Anyone else got the "I owned MARA at $2" bullets in the revolver about now?

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not too late to jump back in and play it. Mancini thinks 70k BTC comes soon (we've been consolidating below 60k a while now. and after 70, the target later in the year is 95k

We are stuck again!

So AAPL to the moon..