Heineken-Ashi said:

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The best time to sell covered calls is after a solid up trend at a point when volatility is extremely high. You're essentially selling a topping of sentiment and profiting off expected volatility decrease.

Take NVDA for example… The best time to sell a covered call was a point significantly out of the money yesterday. Even if the stock makes a big jump, The premiums are going to naturally decrease because volatility at its absolute peak during earnings and trails off the next couple weeks.

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I totally concur with this approach. In my mind, there are three slam-dunk scenarios for writing covered calls:

1. After a big spike upwards (for the reasons H-A notes above)
2. On an appreciated stock position that you are ready to exit anyway.
3. On a new position (this is called a buy/write) that you are moderately bullish on, but want a lower entry price (in effect, not for tax purposes). If you're strongly bullish, you might give up too much upside with covered calls, and if you're neutral or negative, why are you buying it in the first place? )

This open is wild

Purchased 500 TNA at the open, and sold 5 CC's - 20 Sep $46, $1.63 premium.

(Paper money)

When NVDA goes green today or tomorrow, I think we're gonna see new ATH.

I'm hunting $79-$85 ALB to add to my small position I started. A low that forms in that range will be my stop, and I will go significantly heavier looking for the next move to take it over $100 and possibly to $130.

Does anyone have an opinion on ALAB?

Charismatic Megafauna said:

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HoustonAg_2009 said:

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Not much chatter on CRWD nosedive - 40% since their IT crash. Worth buying for swing or long term hold?

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I love crowdstrike but i think the Delta lawsuit is only the first of many. If they are smart they will try and stop the bleeding by the 9/4 earnings report, take a massive L for this quarter and move up from there. I'm not buying until then

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So i guess they decided to sweep it under the rug. Cool.

Charismatic Megafauna said:

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Charismatic Megafauna said:

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HoustonAg_2009 said:

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Not much chatter on CRWD nosedive - 40% since their IT crash. Worth buying for swing or long term hold?

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I love crowdstrike but i think the Delta lawsuit is only the first of many. If they are smart they will try and stop the bleeding by the 9/4 earnings report, take a massive L for this quarter and move up from there. I'm not buying until then

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So i guess they decided to sweep it under the rug. Cool.

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I'm happy pocketing the premium from selling some expiring puts for 200 and 240

I like the look of the weekly on MDT - curious to get others thoughts

I'm buying shares now

first trim target at 95

stop at 75.60

Have to think the bottom is in for SMCI. Not sure what other catastrophic piece of news could drop it below 400 again anytime soon...

Brian Earl Spilner said:

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Have to think the bottom is in for SMCI. Not sure what other catastrophic piece of news could drop it below 400 again anytime soon...

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Kind of agree. Deliver a hit piece to get their friends (and themselves) a lower entry. I doubt they're still short.

These are the types of things I refuse to say out loud anymore.

If I even think them, I try to immediately purge my mind.

Admittedly I regretted the post almost immediately after.

we are on SPX ATH watch...when do we all think we blow thru this sucker before the obvious post election rug pull???

gougler08 said:

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Brewmaster said:

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Brian Earl Spilner said:

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Have to think the bottom is in for SMCI. Not sure what other catastrophic piece of news could drop it below 400 again anytime soon...

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Kind of agree. Deliver a hit piece to get their friends (and themselves) a lower entry. I doubt they're still short.

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It's the Hindenburg operating model (which is ridiculous that it's allowed)

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is it actually allowed or just the SEC hasnt taken notice yet of the clear market manipulation?

Matt Levine has written about this quite a bit in his newsletter lately.

Take a look and Money Stuff. Great read regardless.

sts7049 said:

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gougler08 said:

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Brewmaster said:

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Brian Earl Spilner said:

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Have to think the bottom is in for SMCI. Not sure what other catastrophic piece of news could drop it below 400 again anytime soon...

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Kind of agree. Deliver a hit piece to get their friends (and themselves) a lower entry. I doubt they're still short.

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It's the Hindenburg operating model (which is ridiculous that it's allowed)

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is it actually allowed or just the SEC hasnt taken notice yet of the clear market manipulation?

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Feels like they've been doing this since I started to get more involved in the market ~5 years ago so at this point it is at least "allowed"

man, DG is just continuing to get clobbered

I have the 80 area as strong historical support. may try a swing trade if (when) it gets there

Brewmaster said:

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Brian Earl Spilner said:

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Have to think the bottom is in for SMCI. Not sure what other catastrophic piece of news could drop it below 400 again anytime soon...

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Kind of agree. Deliver a hit piece to get their friends (and themselves) a lower entry. I doubt they're still short.

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I think it all depends on what they release. They have delayed their annual filing. If they report a "material weakness" on accounting controls it could easily go lower. If the SEC takes notice of the Russia allegations and an investigation is started it could lower.

I am looking for opportunities to get back in, but there are just as many scenarios of it going lower as there are it is going higher.

What are you guys thinking on AAPL? Almost back to all time highs, time to sell and wait for the next inevitable dip?

gougler08 said:

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What are you guys thinking on AAPL? Almost back to all time highs, time to sell and wait for the next inevitable dip?

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my stop got hit at 210 on 8/5 and haven't re-entered. I have an alert set for 196 as a potential re-entry. Not planning on entering a new position until then

started a new position in SWK on the break above 100, which has been resistance for several months.

first trim target is just above 112

alert set at 92 to evaluate if it falls to that level, ultimate stop would be around 75 for me

Having similar thoughts about BRK.B.

bhanacik said:

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I like the look of the weekly on MDT - curious to get others thoughts

I'm buying shares now

first trim target at 95

stop at 75.60

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no educated thoughts but I do still hold five figures from when they acquired my old startup years back, most in ESPP shares at 60s basis which I was able to rotate a lot of into tech while it was triple digits in the year after covid
but also have grant options expiring end of Jan, not sure if will see a clear cut exercise opportunity ahead of that or just hold and cash out at end

Brian Earl Spilner said:

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Having similar thoughts about BRK.B.

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you could set a trailing stop. I'm still working on refining on using either a % or $ amount on my trailing stops and it seems like it's 50:50 on if they work perfectly to save me big bucks a large drop or I feel like a dufus when it's a temporary dip like it was on AAPL in my case.

gougler08 said:

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Brewmaster said:

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Brian Earl Spilner said:

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Have to think the bottom is in for SMCI. Not sure what other catastrophic piece of news could drop it below 400 again anytime soon...

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Kind of agree. Deliver a hit piece to get their friends (and themselves) a lower entry. I doubt they're still short.

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It's the Hindenburg operating model (which is ridiculous that it's allowed)

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Meanwhile Roaring Kitty just buys GME, gives his thesis of "deep F-ing value" and shows his position just to be trotted in front of congress and threatened.

So, DELL just exploded lol

WTF was that?!

it did?

My TradingView just showed 100k volume and a pump to 114.44 just for it to immediately crash back down to 111ish

EXCLUSIVE-Dell attempts to sell cybersecurity firm SecureWorks again, sources say

14:55:55 PM ET, 08/29/2024 - Reuters