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FJ43
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In reply to Brian Earl Spilner • 1:43p, 7/21/21
Brian Earl Spilner said:
Brian Earl Spilner said:
FJ43 said:
Bought DIS 7/23 187.5C at $1.66
Easy money.
Gonna be tough but this might still be a winner. Needs to finish green today though.
Yep
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BucketofBalls99
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In reply to Talon2DSO • 1:46p, 7/21/21
Talon2DSO said:
redneckag said:
I have a question about "net free". Is it as simple as buying 1000 shares of a stock at $1, then selling 500 shares once it hits $2? Is there more nuance to it? I have been following the thread for a month or 2 and have learned a lot, I appreciate everyone's insights and willingness to share.


Yep. An example: I bought 100 shares of WWR a while back at 7.00 or so. My cost basis then was 7.00. I subsequently bought 300 shares when it was around 4.00, dropping my cost basis to (1007) + (3004)/400 = 4.75 cost basis.

Once I had 400 shares, I started selling covered calls at various levels .15 here, .20 there. Each time lowers my cost basis by that amount per share until I get to 0. Then it's net free.

Goal is, if you're a small investor like me, has been to buy 100 shares of something then sell the covered calls on it until you're net free. It's not big money and requires patience but doing this has allowed me to sell covered calls until I have enough cash to buy more shares to sell more covered calls. I have to do this because this is my Rollover account for older 401k accounts I've had over the years. About 80% of it is in ETFs I don't touch and really only play this game with the remaining 20%.

Does that make sense?

Talon - when you say selling covered calls, is that essentially just selling calls? Because I'm new to this as well and have sold a couple calls and just reaped the premium off of them. Nothing big.

Or does the 'covered' part add a little something extra to the mix?

Thanks
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McInnis 03
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1:47p, 7/21/21
AG
Anatomy of a scalp: $TSLA

1) Saw fintwits mentioning TSLA, how it was "getting ready".....so I went to my chart with pivots....daily, weekly, and monthly
2) Noticed we were climbing hard into the daily purple pivot and I faded there (yellow highlight)......also saw that was a rejection not long ago.....as we got to 655, I took the 655p weekly.
3) Goal was to watch this play out for a VERY quick scalp....sure as hell (I was surprised, ask FJ) I watched it reverse and drop (RED BAR) as the fintwits were probably finishing loading up......exited at 10% gain in about 5 min.

Why?

1) previous rejection at the daily pivot showed decent resistance
2) people were starting to watch it and retail is always wrong, right? lol
3) I was going to be very tight with the stop on the put, if it breached and held above the pivot I'd have closed with a paper cut. Risk was minimal for me.
4) Carter says on choppy days, fade pivots. Trend days, use them as entrys/exits.


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BucketofBalls99
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In reply to ProgN • 1:48p, 7/21/21
Prognightmare said:
Got your email and will contact you later

Prog - I'm pretty much a newbie myself with most of this. Would you mind including me on your email as well? It would much appreciated.

bucketofballs99 at G mail dot com
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AGSmith
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In reply to BucketofBalls99 • 1:50p, 7/21/21
AG
BucketofBalls99 said:
Talon2DSO said:
redneckag said:
I have a question about "net free". Is it as simple as buying 1000 shares of a stock at $1, then selling 500 shares once it hits $2? Is there more nuance to it? I have been following the thread for a month or 2 and have learned a lot, I appreciate everyone's insights and willingness to share.


Yep. An example: I bought 100 shares of WWR a while back at 7.00 or so. My cost basis then was 7.00. I subsequently bought 300 shares when it was around 4.00, dropping my cost basis to (1007) + (3004)/400 = 4.75 cost basis.

Once I had 400 shares, I started selling covered calls at various levels .15 here, .20 there. Each time lowers my cost basis by that amount per share until I get to 0. Then it's net free.

Goal is, if you're a small investor like me, has been to buy 100 shares of something then sell the covered calls on it until you're net free. It's not big money and requires patience but doing this has allowed me to sell covered calls until I have enough cash to buy more shares to sell more covered calls. I have to do this because this is my Rollover account for older 401k accounts I've had over the years. About 80% of it is in ETFs I don't touch and really only play this game with the remaining 20%.

Does that make sense?

Talon - when you say selling covered calls, is that essentially just selling calls? Because I'm new to this as well and have sold a couple calls and just reaped the premium off of them. Nothing big.

Or does the 'covered' part add a little something extra to the mix?

Thanks


A covered call just means that you own the shares to back the call that you sold.
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FJ43
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1:51p, 7/21/21

So far SPY living in my morning posted range. Still haven't hit the upside 434.45...yet anyway.
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emac0002
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In reply to BucketofBalls99 • 1:51p, 7/21/21
AG
Yes, its like selling a call but you own the underlying stock already.
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Talon2DSO
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In reply to BucketofBalls99 • 1:51p, 7/21/21
AG
BucketofBalls99 said:
Talon2DSO said:
redneckag said:
I have a question about "net free". Is it as simple as buying 1000 shares of a stock at $1, then selling 500 shares once it hits $2? Is there more nuance to it? I have been following the thread for a month or 2 and have learned a lot, I appreciate everyone's insights and willingness to share.


Yep. An example: I bought 100 shares of WWR a while back at 7.00 or so. My cost basis then was 7.00. I subsequently bought 300 shares when it was around 4.00, dropping my cost basis to (1007) + (3004)/400 = 4.75 cost basis.

Once I had 400 shares, I started selling covered calls at various levels .15 here, .20 there. Each time lowers my cost basis by that amount per share until I get to 0. Then it's net free.

Goal is, if you're a small investor like me, has been to buy 100 shares of something then sell the covered calls on it until you're net free. It's not big money and requires patience but doing this has allowed me to sell covered calls until I have enough cash to buy more shares to sell more covered calls. I have to do this because this is my Rollover account for older 401k accounts I've had over the years. About 80% of it is in ETFs I don't touch and really only play this game with the remaining 20%.

Does that make sense?

Talon - when you say selling covered calls, is that essentially just selling calls? Because I'm new to this as well and have sold a couple calls and just reaped the premium off of them. Nothing big.

Or does the 'covered' part add a little something extra to the mix?

Thanks


I'm new as well so take it with a grain of salt.

I open a transaction by "Sell to Open" a call only where I own at least 100 shares of the stock.

When I first started goofing around here, I made money....and lost money by "Buy to Open" naked calls, i.e. I did NOT own the stock but I paid a premium for a certain number of calls or puts thinking the stock would move in one direction or another. Once I realized that my analysis skills sucked tremendously, I decided that was a great way to lose money.

So I've now transitioned to owning 100 shares or more of a stock and selling only enough calls to cover the amount of shares I actually own. This way, I get cash up front and if the price never hits the strike price, I keep the cash and the shares to do it all over again.
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ProgN
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In reply to BucketofBalls99 • 1:51p, 7/21/21
BucketofBalls99 said:
Prognightmare said:
Got your email and will contact you later

Prog - I'm pretty much a newbie myself with most of this. Would you mind including me on your email as well? It would much appreciated.

bucketofballs99 at G mail dot com
Yes, I have your email
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Ferris Wheel Allstar
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In reply to ProgN • 1:53p, 7/21/21
AG
Prognightmare said:
If anyone that follows this thread has an account at Cantor Fitzgerald please do me a favor.

Contact the SAVA analyst from last week that brought it down and verbally break your foot off in his ass.

TIA
I sold 100 shares bc of that effer, but I am still balls deep in SAVA.
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gig em 02
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In reply to ProgN • 1:55p, 7/21/21
Prognightmare said:
BucketofBalls99 said:
Prognightmare said:
Got your email and will contact you later

Prog - I'm pretty much a newbie myself with most of this. Would you mind including me on your email as well? It would much appreciated.

bucketofballs99 at G mail dot com
Yes, I have your email


Keep us updated on the new poster count so we know if we reached a top or not
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BucketofBalls99
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In reply to Talon2DSO • 1:55p, 7/21/21
Ok that sounds like what I do.

I've never don't any naked calls yet. Still trying to learn that avenue and completely understand it

Thanks!
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ProgN
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In reply to gig em 02 • 1:56p, 7/21/21
gig em 02 said:
Prognightmare said:
BucketofBalls99 said:
Prognightmare said:
Got your email and will contact you later

Prog - I'm pretty much a newbie myself with most of this. Would you mind including me on your email as well? It would much appreciated.

bucketofballs99 at G mail dot com
Yes, I have your email


Keep us updated on the new poster count so we know if we reached a top or not
Smartass
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BucketofBalls99
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1:59p, 7/21/21
Regarding SAVA, are y'all just pretty well playing options on this?

Or is the current price a good entry point just to buy some shares? Was looking at maybe getting 100. Just wondering what the thoughts are of where it might go with the events going on next week?
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jimmo
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In reply to McInnis 03 • 2:00p, 7/21/21
thanks!
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SoTXAg09
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In reply to McInnis 03 • 2:03p, 7/21/21
AG

I tried playing with your setup today, I kept getting this zoomed out unusable setup. Any advice?
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docaggie
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2:07p, 7/21/21
AG
As much as I like SAVA and think it likely has a home run winner, I haven't bought shares in my trading account. I still have shares in my 401k that are net free from the initial surge several months ago. Despite the jump today, I'm not selling those, believing that they're going to have an incredible drug.

For my trading account, I missed the first hour of trading today but sold an August put in it at about 107, then bought it back when it moved higher for a quick 25%. My original plan was to sell a put and then buy it back after the conferences when the IV in it died down. But then it moved 30% higher today!

I'm now watching it to see if it retraces off this huge move. If so, I'll sell a put again and watch for another surge.
I have to think their data is excellent if they're presenting at two conferences and the phase 3 trial isn't even done yet.
Class of 1998;
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No material on this site is intended to be a substitute for professional medical advice, diagnosis or treatment. See full Medical Disclaimer.
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McInnis 03
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In reply to SoTXAg09 • 2:08p, 7/21/21
AG
Center click your mouse button and chose the "pointer".....click and drag the time frame you want to zoom on.

Or, hold the "cntrl" key while you roll the mouse roller in or out to zoom in or out. Then center mouse click and grab the finger to drag around on the chart where you want to go. With this same "finger" you can grab the price axis on the right and drag up or down while clicking to adjust your scale to make bars cleaner.
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ProgN
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In reply to BucketofBalls99 • 2:10p, 7/21/21
BucketofBalls99 said:
Regarding SAVA, are y'all just pretty well playing options on this?

Or is the current price a good entry point just to buy some shares? Was looking at maybe getting 100. Just wondering what the thoughts are of where it might go with the events going on next week?
I own shares because the options are way too juiced for me and buying an option becomes an all or nothing trade. I think it will have strength and continue to build into their presentations next week. I will be scaling out of some of my shares and booking the profits but still have some exposure. I've lived through too many "sell the news" type of events.
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mazag08
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2:18p, 7/21/21
AG
Is it just me or did the entire market slow to a crawl?
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FJ43
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2:19p, 7/21/21

VIX LOD
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agdaddy04
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2:24p, 7/21/21
AG
SAVA fallen $8 from the daily high... profit takers?
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cmk10
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2:30p, 7/21/21
AG
CIDM moving
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ProgN
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In reply to agdaddy04 • 2:34p, 7/21/21
agdaddy04 said:
SAVA fallen $8 from the daily high... profit takers?
Yes, if you bought it at $72 Monday at the open and could sell it at $115+ on Wednesday, wouldn't you? Don't worry, it's traded almost 3X it's daily volume today. That action shouldn't evaporate in a day.
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FTAG 2000
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In reply to agdaddy04 • 2:35p, 7/21/21
AG
agdaddy04 said:
SAVA fallen $8 from the daily high... profit takers?
It was falling on lower volumes. Looks to have support at $110.
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cmk10
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2:35p, 7/21/21
AG
Are we still MA DNN?
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$30,000 Millionaire
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2:37p, 7/21/21
AG
$NFLX appears to have bottomed.
You don’t trade for money, you trade for freedom.
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FJ43
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In reply to cmk10 • 2:38p, 7/21/21
cmk10 said:
Are we still MA DNN?
I buy at the low supports (recently low .90s) then sell at higher resistance enough to gain net free shares.. I just trade it for net free shares to be an MA for me.
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McInnis 03
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2:39p, 7/21/21
AG
BEARISH DEATH CROSS ON TICKER $B12


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BrokeAssAggie
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2:43p, 7/21/21
WWR had a good day
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cptthunder
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In reply to BrokeAssAggie • 2:48p, 7/21/21
CrazyRichAggie said:
WWR had a good day
Pay for that garage good?
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GTIAG09
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In reply to $30,000 Millionaire • 2:49p, 7/21/21
AG
$30,000 Millionaire said:
$NFLX appears to have bottomed.


What would be the play here? July 30 $530 calls?
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0708aggie
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2:50p, 7/21/21
AG
I'd like to see a SPY puke here at the close.
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jwhitlock3
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In reply to GTIAG09 • 2:50p, 7/21/21
GTIAG09 said:
$30,000 Millionaire said:
$NFLX appears to have bottomed.


What would be the play here? July 30 $530 calls?


7/30 530/535 was my play. Will cut if we lose 505.
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Triple_Bagger
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In reply to ProgN • 2:51p, 7/21/21
Prognightmare said:
agdaddy04 said:
SAVA fallen $8 from the daily high... profit takers?
Yes, if you bought it at $72 Monday at the open and could sell it at $115+ on Wednesday, wouldn't you? Don't worry, it's traded almost 3X it's daily volume today. That action shouldn't evaporate in a day.
This was me. I just sold the shares I bought Monday . Holding the rest through next week, but looking for a good entry on hedges.

One potential play for next week: Some less educated SAVA share holders might sell after the SAVAdx presentation Monday, mistaking that for the event. Could be an opportunity to buy some more shares or buy some options before the presentation on Thursday.
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