Thanks

took profits on AMD. super thankful for that one!

So how does the wash sale work? If I wanna re-buy a stock, I have to wait 30 days. Or only to let the sale for a loss be counted towards tax for this last year?

10K AMD Mar 135C bought for $23MM.....woah.

Don't want to clutter this up but could you send me information about how to determine if this is a good strategy for my rollover?

McInnis 03 said:

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10K AMD Mar 135C bought for $23MM.....woah.

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what's the point to buying ITM calls? Is it purely a leverage/delta play?

If so why not 130c or 145c?

LCID flagging. I'm adding $42 weekly calls for a day trade.

makes sense. extrinsic vs intrinsic.

I'm jumping in on SOFI

BaylorSpineGuy said:

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So how does the wash sale work? If I wanna re-buy a stock, I have to wait 30 days. Or only to let the sale for a loss be counted towards tax for this last year?

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Correct you can buy back whenever you want, but if you buy back within 30 days you can't use the sale as a tax loss.

Bought a crwd apr 240c for 6.5

I don't have a link per se. Last year I Converted BTI stock from a Rollover IRA to a Roth IRA. The BTI dividend had not paid when I Converted, but I Converted after the BTI Ex-Div date and before BTI pay date. The Div paid to my Rollover IRA. I called Vanguard to ask why they paid Div to Rollover IRA since the shares were sitting in the Roth IRA. My timing on the Conversion was off - Convert shares to Roth before Ex-Div Date and Div pays to Roth. This 2022 tax year, I'll be Converting that 2021 BTI Div as part of the Conversion for 2022 tax year and paying tax on it, all because of my poor uninformed timing. Hope this is clear/makes sense.

I am Converting a **** ton of T today and verified the Conversion/Div payout with Vanguard on 12/31. As long as T shares get Converted to Roth IRA on, or before, January 6th the T Div will pay to the Roth IRA account. It's a sizeable Div for me and I want it tax-free....because I'll be paying Uncle Sam a large sum for the share Conversion transaction. A major part of my long term plan, I am going tax free.

Gotcha. I didn't realize you could just pick one stock and convert it. And it doesn't matter that this is a 401k rollover? Guessing you pay current income tax rate on what you're converting though, right?

agdaddy04 said:

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Gotcha. I didn't realize you could just pick one stock and convert it. And it doesn't matter that this is a 401k rollover? Guessing you pay current income tax rate on what you're converting though, right?

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yes. i don't know if it has changed since i was in the RIA business, but any withholding you do before age 59.5 is considered a premature distribution and gets the 10% penalty tax. so you get boned for withholding.

McInnis 03 said:

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10K AMD Mar 135C bought for $23MM.....woah.

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guess I will sell some put spreads against those.

agdaddy04 said:

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Gotcha. I didn't realize you could just pick one stock and convert it. And it doesn't matter that this is a 401k rollover? Guessing you pay current income tax rate on what you're converting though, right?

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If the 401k Rollover is still under your old company's umbrella, I don't know how that works. If it is a 401k Rollover that you rolled into your personal control and self manage - you're golden.

I rolled my 401k out from under my old company plan into my personal control. It was easy as both, company and personal account, were at Vanguard (I split business with Vanguard and Fidelity). My old company 401k plan charter with Vanguard has a clause that reads, if my old company wanted to restrict distributions they are allowed to. Basically, you tell Vanguard you want $10,000 from your 401k, but company tells Vanguard that distributions will not exceed $5,000 on an annual basis. Vanguard has to follow the company restriction rule, regardless that it's your money, only because it's still sitting in "the company plan". .... Nice, huh? My advice, get your 401k money out of a company plan if you leave that company.

Pay at current income tax rate - yes - whatever bracket it kicks you into.

Trading,....

RIG - my old notes have OA stating to hold thru January 2022 and be keeping an eye on it until then. Well, it's January 2022, I don't know if OA has issued any statements on RIG, but I'm cuttin' loose if I get back to breakeven. It's at $3.12 and I own at $4.41. I'll likely sell before exiting end of January.

Bought SPY 480C weekly at .68

Lotto size since traveling and not able to watch closely.

I'm in for a 1/5 $480C. Hoping it runs later today before close.

Looks like your precious BTI is breaking out of a C&H on the 6 mo chart. Appreciate the heads up on this stock. I'm long with shares, options and loving that sweet dividend.

Challenger 17 said:

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Here are some recent Nancy Pelosi trades I'm thinking of jumping on.

• DIS at 156.38-Purchase made on 12/17/2021 Bought 50 LEAP call options with a strike price of $130 and expiration date of 9/16/2022 totaling $160,000.
• CRM at 257.40- Purchase made on 12/20/2021-Bought 130 LEAP call options with a strike price of $210 and expiration date of 1/20/2023 totaling $820,000
• RBLX at 100.52-Purchase made on 12/20/2021-Bought 100 call option with a strike price of $100 and expiration date of 1/20/2021 totaling $275,000
• MU at 94.94-Purchase made on 12/21/2021-Bought 100 LEAP call options with a strike price of $50 and expiration date of 09/16/2022 totaling $450,000

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yeah DIS on any pullbacks and sell the rips. I've already done it twice.

Opinion question: is it wrong to short your own company as long as you don't have any insider knowledge?

I realize it's poor form, but it's not wrong to make money. Curious for the opinion of the board.

Disclosure: I have not yet done and do not plan to, but curious for everyone's thoughts.

McInnis 03 said:

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10K AMD Mar 135C bought for $23MM.....woah.

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You sure that was a buy? If that was a sell then it's bearish.

BaylorSpineGuy said:

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Opinion question: is it wrong to short your own company as long as you don't have any insider knowledge?

I realize it's poor form, but it's not wrong to make money. Curious for the opinion of the board.

Disclosure: I have not yet done and do not plan to, but curious for everyone's thoughts.

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Because you're a respectable upstanding member of your community, probably. If you were an inside the beltway swamp creature it'd be SOP.

Just kidding, if you have no direct inside information that could be verified via an investigation, it's more than likely legal and I'd do it.

I am shorting your company - why shouldn't you?

CrazyRichAggie said:

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LCID flagging. I'm adding $42 weekly calls for a day trade.

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Up 50% on these will trim soon

Spoony Love said:

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I'm in for a 1/5 $480C. Hoping it runs later today before close.

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1/7 for me.

$DIS dark pool equity print:

Quantity: 750,000
Spot: 156.16
Amount: $117.1M#darkpool

— Cheddar Flow (@CheddarFlow) January 3, 2022

Took a quick 50% on these, thanks for the cal out this AM.