Board 8 > Stock Topic 13

(+) Yeah! (+)

CoolCly posted...

Everything StarTheMachine was saying earlier is nonsense to me after all. LIFO? Da fuq?

LIFO is just a tax lot ID method. It stands for Last In First Out, as opposed to FIFO, First In First Out.

Whenever you make a purchase of a stock, you're always using some form of tax lots. Most brokers if not all default to FIFO, which simply means that the first shares you bought are the first that are going to be sold. So if you buy 100 shares of a company, then an additional 50, and later sell only 50, those 50 will come from the first batch of the 100 you bought.

There are more than just these two tax lots; there's low cost, high cost, loss harvester, and Ameritrade even has specific ID lots where you can go in and pick from any buy batch to sell (though strangely enough I think you can only pick this from the cost basis page AFTER you've already made the sale - but BEFORE the settlement period. You can't choose this method before you actually make the sale).

I traded for months without ever thinking about tax lots. It's been useful to me lately because I'm averaging down on these warrants I've been holding for a long time, simply waiting for news, hopefully of a big contract for this company to expand their revenue in the coming years.

Lopen posted...

Warrants are basically just dumbed down options as I understand it, as the Strike and Expiry are priced in. Robinhood doesn't support them so I don't really care to look into if there's any nuance beyond that.

Yeah, they're like super long calls with a set strike price and expiration date. AVCT warrants expire in 2025, so you're essentially speculating how a company will do over a very long period of time if you buy early. This is why they can be so lucrative if you have patience and are in on the right company.

Alternatively you can have the best of both worlds like AVCT, where it's also a low floater so the thing can explode at any news drop. AVCTW went from 30 cents to 2 dollars the morning of August 6th. This is why I don't mind holding my 50k+ warrants for like a year if it means a potential 100k trade from a news drop. I have no interest in actually exercising my warrants, only in trading them like I would any common stock.

Wish I'd expanded my research on the AVCT discord though because these guys were also discussing IEA warrants back in August, when they were trading around 20 cents. They are now stabilized around 3 dollars. A 15x gain in under 6 months. Pretty unreal.

That server is really strong

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See really should have waited to sell those FUBO calls till market open. Could have made more money

But not buying these contracts back I'm cool with making 500 bucks

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I basically only trade in my Roth so I don't need to worry about it

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86.4% rate of return since Jan 2020.


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Have this strange feeling QuantumScape was oversold yesterday and is going to bounce back huge

I have an $83 call that expires next Friday. Used one of my FUBO call sells on it. Let's see if I can multiply this puppy.

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I also got in on QuantumScape. Didn't get up early enough to buy in at the bottom at the open, got my shares in at +9% for the day.

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I actually really like it long term but I feel like it's going to be a rocky ride for the next few weeks and that I should be able to maximize gains by buying calls/puts instead of actually buying the stock. I mean I could see it being $80 tomorrow morning, and while having stock then for +50% gains would be nice why not buy a call for 500% gains instead.

Maybe once it cools down a bit I'll actually buy some.

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Strangest feeling is looking at BP and thinking the $25 1/15 calls I bought on it (sold a lot of them for a small loss for tax purposes) might actually pan out. Gonna be kicking myself if it gets there and I just have this much smaller stack of 3/21 $25 calls even if I'll still make some money either way

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Yeah calls are going to be way more profitable if you can time it well. Too stressful and life-consuming for me though.

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I think the takeaway here is to ALWAYS secure the zero cost call when possible

Like I could have made that stack of $25 calls cost nothing by selling 1/4 of them after that big day BP had last month but I was like "only good news coming let's just keep going" and then it went back down. If it had I'd be fearlessly sitting on a stack of 60 calls right now because I would have zero risk.

But hey I think it'll get to $30 by March so I'll still make a few thousand if that happens. Far cry from the 10s of thousands I could have made but what can you do. (of course it's possible it'll dip huge tomorrow and hold under $25 through 1/15 and this lamenting will be for nothing)

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Moonroof tell me you didn't sell BGFV in the past week

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Why didn't I listen to lopen :(

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Well I put 1k into it at the top of the spike. I bet I'll regret this.


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I still think FUBO is a good buy and don't want them to take my shares at the end of the week

I kinda think they won't though. Some pullback is possible.

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If it drops a lot average down to get up to 100 shares then sell an EOW call that lands above your cost basis

You'll feel better

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I reset all my positions at the beginning of the new year.

That feel when I knew I was buying the top, do it anyway and lose 50 bucks

Feel had bro


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Should have asked me when to buy and how much I wouldn't steer you wrong

Side note whoa nelly QS can't wait for this 20x play to pan out tomorrow morning

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Fubo sucks

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FUBO is doing exactly what I wanted to

Keep flirting with that $28 without going over so I can sell again

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Hate u

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My advice to buy FUBO was entirely contingent on willingness to sell calls!

There are better buys if you just want gains by holding. Buy TRVN and wait a year and triple your money imo.

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So um, if a stock has gone up 20% already on the day you are thinking about buying, DON'T buy it. Just don't.

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Also, while it's often maligned, I'm increasingly thinking that catching a falling knife is a good strategy as long as you've decided that there's nothing fundamentally wrong with the company. Where you want to buy is when other people are panic selling. Their loss is your gain.

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Well I wouldn't necessarily say that's always true. Sometimes a big day is followed by an even bigger day. FUBO going up a few bucks tomorrow wouldn't totally surprise me.

The story is always have a price in your head you're expecting something to reach and a timeline you're expecting it to reach it. If you're buying because of me and I just told you I sold $28/$29 EOW calls that means I'm expecting it to go down when it's at $30 not up so I would then say not buy it unless you want it as a long term hold.

Not saying I'm always right about my own stocks but you can't follow my advice and also not follow it that's how you burn money.

I do think FUBO could legit get back to $60 by the next earnings call on a hype run-up. I'm going to be a lot more conservative selling calls come March assuming I haven't been kicked out of the stock by then.

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The longer you are willing to hold, and the bigger of a decline you are willing to stomach, the more flexibility you have in picking entry points.

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Weed stocks are printing money today. As long as Ossof holds on to the win, KERN is making me lots and lots of money.

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Now that its a new year I have to roll over my previous jobs 401k into my Roth. Waited till this year for tax purposes, though its possible it doesnt matter

I dont know how I feel about the ability to buy 50 grand worth of options.

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Should have held my PLUG calls.

Oops.

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@StartTheMachine oh, I said "nonsense" earlier but i did actually understand the details, I was just making a joke for my Canadian accounting homies (who don't exist). LIFO is very frowned upon here

That's interesting that you guys get that kind of detail about your stocks... I'm not sure my broker actually gives me ANY detail about them at all. It just says I have 10 of that stock and the weighted average cost of them combined lol. I have the transaction history to find individual sale and purchase prices but that's about it.

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Sold my KERN for a quick $800 before it dipped, then bought IEA on the dip, with a shitton of margin.

can't resist a stupid dip caused by Trump supporters

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I am going to put more into EVRI. It is astute a beautiful price.

I put another $51k into EVRI yesterday afternoon, bringing my total to around $76k. I had a strong feeling itd go up a bit today but I quickly grew uneasy at having that much in one stock. I sold pretty early this AM for a <1% gain but Ill take it to be freed up. I then made the maximum $6k contribution into my Vanguard Retirement Fund for 2020, and did the same for 2021. Thats $12k total, which I am very pleased with because I have around $18k gains total from the market. I imagine this is how people become wealthy.

Sunroof posted...

I put another $51k into EVRI yesterday afternoon, bringing my total to around $76k. I had a strong feeling itd go up a bit today but I quickly grew uneasy at having that much in one stock. I sold pretty early this AM for a <1% gain but Ill take it to be freed up. I then made the maximum $6k contribution into my Vanguard Retirement Fund for 2020, and did the same for 2021. Thats $12k total, which I am very pleased with because I have around $18k gains total from the market. I imagine this is how people become wealthy.

Do you still have any EVRI shares or did you sell it all? I think it's correct not to put 75% of your portfolio in one stock. Especially a 100k+ portfolio.

As for becoming wealthy, how far ahead/behind of SPY are you since you put 80k into the market?

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I'm ready for Tesla 1000

:(

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I sold all in order to get that profit. I didnt believe in the trend.

No clue. I cant tell since I invest different amounts say a time. Rarely do I have over $50k in set a time.

Bought my calls of FUBO back on the dip this morning to make around $50. Sold calls for next week at $32 for around $250.

Then put $100 of that into my bank account so I can feel the money being made.

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Of course if I bought TSLA 1/22 1000C it would have doubled my money.

Fuck.

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Sunroof posted...

I sold all in order to get that profit. I didnt believe in the trend.

No clue. I cant tell since I invest different amounts say a time. Rarely do I have over $50k in set a time.

I meant, what if you just bought SPY with the 80k and left it in there until now.

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Oh hey that chinese coffee stock I held after it bottomed out is back up above where I bought in

Nice

Looks like SPY went up not even a percent in that timeframe so maybe $500? About the same.

Sunroof posted...

Looks like SPY went up not even a percent in that timeframe so maybe $500? About the same.

Not possible. I thought you added in the 80k months ago? Like around June?

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Oh, I thought you meant $80k into EVRI.

Yes, late Decemberish I put $80k in as well and sold for around $3,000 gain. SPY hasnt gone up a percent since then.

I'm really confused. I thought you said more than half a year ago that you had 80k to invest. What I'm asking is, if you just bought SPY with the full amount then, and held it all the way to now, how much would you have made? Not talking about when you actually bought/sold stocks.

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I guess I dont know what month youre starting with. If its July, its up 2% so $1,600. Not a lot.

Are we looking at the same thing? On July 1, 2020, SPY closed at $310.52. It's now at $380.78. So on $80k invested, that would be a gain of $18,101.

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Sorry. Im multitasking at work. Ill check this tonight.

Okay. Looks like I made $19k since July so an extra $1k. I think the big gains of SPY are gone now though.

Good job! You probably did better than a lot of fund managers. I was initially going to say that you would have made more money if you didn't keep jumping out of the market, and that's probably true given the stocks you picked, but hey, beating SPY is most fund managers' goal, so good job.

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Thanks. Its been a rollercoaster for me. I was up $17k at one point, dropped down to up $1k, climbed up to where I currently am at up $19k. I would have been better off if I put everything in SPY since March though.