Board 8 > Stock Topic 7

(+) Yeah! (+)

Damn, I got in SOLO at 4.47; it's not looking good today though. Here's hoping for it to bounce back up. Haven't done enough research so I'm content getting out and breaking even. Looks like everything EV is down today though, maybe it's redeemable soon.

E: Climbing back baby. Gonna go for some profit but nothing huge.

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I believe in SOLO to recover. WKHS had some bumps in its ascent as well. The volume is there and the hype is there. Heck the product is there too as unlike NKLA this thing actually has factories. Your only real fear is an offering which it shouldn't need as it made one like a month ago-- once investors are convinced it won't do an offering immediately it should continue going up.

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I'm still holding till just under $8. I think that's a modest enough goal.

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Hmmm, good to know all this. I had no idea there was already an offering and that was my biggest fear. Maybe I will ride it longer.

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*buys more AMZN*

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This isnt a bad time to start trickling into NKLA for the long haul.

AAL Im thinking single digits will be available this month

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True story I got scared of NKLA at around $58 and sold it at a small loss.

Looking like it was the right move though. If it gets back down to the mid $30 range I'll buy back in.

But yeah SOLO looks like it has a nice little niche market to capitalize on so I wouldn't be afraid of it falling off a cliff-- keep in mind they did this with no real PR or anything, just general hype for the product. STOCKTWITS (I know) says they are having a shareholder's meeting on Thursday which could give it a nice little bump, if I could verify this is actually happening.

EDIT: Confirmed on their site. https://investors.electrameccanica.com/annual-meeting So yeah definitely hold till at least then. They're expanding so I doubt they're going to have bad news for this one.

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The VIX was right again. Yesterday we had the rare event that the market was up and the VIX was up. Today the market fell. I'm kicking myself for not checking the VIX during the last hour yesterday and selling everything. Could have bought back today at a lower price on 4 out of 5 stocks.

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In case anyone is going to try what Im trying, do be careful of the bid ask spread.

Twice now if I had just hit confirm without adjusting my limit I would have bought a position that literally could not make money. As in it would have lost money regardless of where the stock went. Got to be careful with those low volume options.

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I feel like today is so bad that tomorrow has to be a Green Day, or at the least, a green morning. What should I put $50k into and sell in the morning?

Moonroof my man

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Im not liking any of my usual stocks. Tech stocks are down too.

Also, my account got approved for options and calls. I just need a crash course on how to do that.

Stick with as outlined in Harry Potter and the magic of option trading until you get a better feel for it

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Send that link again?

https://www.fanfiction.net/s/13532680/1/Harry-Potter-and-the-Magic-of-Options-Trading

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Lol. Thanks

So selling put options of a stock that I wouldnt mind owning is the way to go.

Here is a theoretical example. Can you explain what this means?

I suppose it's hard to go broke selling puts in profitable companies. Let's just hope Harry doesn't end up selling a lot of puts in a company that goes bankrupt or worse, selling calls in Tesla last week.

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So it looks like there you would be selling a $1 put option for $11.85 each which doesnt really do much for you because there isnt very much intrinsic value that far out.

you want to sell an option closer to what it is trading for. Say $11

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red sox 777 posted...

I suppose it's hard to go broke selling puts in profitable companies. Let's just hope Harry doesn't end up selling a lot of puts in a company that goes bankrupt or worse, selling calls in Tesla last week.

Selling naked calls is stupid enough that it shouldnt even be remotely related to selling puts.

and selling puts in companies that go bankrupt really isnt any more likely then buying stock in companies that go bankrupt.

There are a million ways to go broke with options, but selling puts of big name stocks is not one of them

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masterplum posted...

So it looks like there you would be selling a $1 put option for $11.85 each which doesnt really do much for you because there isnt very much intrinsic value that far out.

you want to sell an option closer to what it is trading for. Say $11

So instead of $1, do $11 because thats closer to the value of the stock. And what is the difference here of $1 versus $11?

Moonroof posted...

So instead of $1, do $11 because thats closer to the value of the stock. And what is the difference here of $1 versus $11?

With the $11 put, if the stock price goes below $11 it can get exercised, meaning, you buy the stock for $11 even though it is now trading for less than $11. With the $1 put, the put will not be exercised unless the stock falls below $1. Since the probability of AAL falling below $1 by the close of business on Friday is vanishingly low, the premium you stand to make from betting against it is correspondingly microscopic.

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Got it. So the closer the put to the actual price, the larger the potential gain. And how can I tell what exactly the gain would be?

The maximum gain is the premium you're collecting.

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How do I know the premium Im collecting?

Oh I think that's what you are limiting where you enter a limit order. Like, whatever amount you put in there is the lowest premium you are willing to accept.

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So Id make $11.85 because thats what I put in there? That doesnt make sense or else is just put like $1,000,000?

Moonroof posted...

So Id make $11.85 because thats what I put in there? That doesnt make sense or else is just put like $1,000,000?

No one will buy the put if you offer to sell for $1,000,000. I don't think anyone will pay $11.85 for that put either. Personally, I wouldn't offer more than 1 cent for the $1 put. You gotta look at the current bid/ask to see what's a reasonable amount.

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Oh okay, so its based on wha to there are willing to buy, and you base that on the bid and ask prices.

Yep. When in doubt just split the middle. The bid ask spread for major stocks near the strike price should be within a few cents of each other. If the spread is more than 10 cents or so I think you are doing it wrong.

You can want to trade stuff with huge spreads but seriously don't if you don't know what you are doing

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Also Levi earnings sucked. My 10 put spreads on them are looking to print

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I'd only advise buying calls on Amazon expiring a few months out. Expensive contracts though but I'm pretty sure it's about a 5x gain if you think amazon will continue its run (it probably will)

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God I wish had the money/margin to get into NKLA. Gonna be a good run.

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So none of you sold Solo right?

We're gonna get that $8 today! Maybe.

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I doubt it! But should be a good run today and tomorrow (PR drops at 6 p.m. tomorrow). Question is whether to hold through news or not. I've been burned holding these cheap stocks through ER so hopefully the news isn't underwhelming.

And are y'all still watching LK? That popped $4 today. Guess everyone is happy the chairman and those execs got ousted. Probably too late to get in for a short play, but I'm watching.

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I still have my 10 shares of LK

I really really wanted to make that 1000 shares. I should have trusted corrupt coffee it would have made me so much money.

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Yeah, I regret not jumping back in on LK at $1.40. My main worry was that I wasn't sure if it was going to trade OTC or if it was just going to be completely delisted from US exchanges.

I do think there's a lot of value in this company long-term, I'm just afraid that even if the business thrives, shareholders will never be rewarded for it. I'm reading articles that say that the chairman replaced himself and the independent directors with some lackeys, so, essentially, the chairman has regained full control. If they just never declare a dividend and funnel off profits to companies controlled by the chairman in the future, it's possible that the company does great and shareholders still lose.

It might be worth taking a shot at it anyway but it's a lot less attractive now at $3.70 instead of $1.40.

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I was glad to see I needed to do absolutely nothing to still be able to trade LK. Going to just sit on it for however long and see how high it'll go

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I dont even see LK being updated since $1.89

The new ticker symbol is LKNCY.

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CAR with another +8% day. This stock is such a joy to own.

I just checked and at this point CAR accounts for 161% of my profits since March. That is, I've lost money across everything else I've traded.

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I gotta get in some of these stocks you guys keep getting into.

I just woke up from a nap and wtf SOLO. Well, I bought a few more shares. It better not make me regret this. Lowering my expectations and definitely selling if it hits 6 tomorrow.

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I think Solo is being manipulated by some big money behind the scenes. Surge it early to get people to hype buy, then trickle people out as it falls hard, then buy the dip. It did this yesterday too.

I still believe in this thing to overall make steady progress from here-- today feels good. I'm actually planning on upping my stake a bit if it dips enough.

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I bought 500 more shares at 4.40 and I couldn't have timed the dip buying any better if it holds. Yeah, wish I had sold for my G before my nap and bought back in though! I've been buying and selling GAN this way since it can't seem to break its wall at 28.50, and every $500+ sale I make just brings me closer to making up all my dumb losses from earlier.

I lost my gain money so fast, but now I don't mind playing it slow and steady to get it back.

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$PTON caps

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Ur welcome for the free money

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Moonroof posted...

I gotta get in some of these stocks you guys keep getting into.

Look into XELA imho if you want to get in one early. It's a mother fucking steal and is super undervalued. Not sure when but it will be a $2 or $3 stock. Fundamentals are too strong and they're poised to blow up.

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