Board 8 > Stock Topic 15

(+) Yeah! (+)

Cant believe Im saying this but God bless Reddit.

tag

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Feeling upset that I failed to make $14k and only made $3k only to get back up to that $14k in three more days.

Fun world.

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https://mobile.twitter.com/elonmusk/status/1354174279894642703

uh oh

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Now at $217 in after hours after that Elon tweet.

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Unreal!

Shouldnt have sold so many amc covered calls haha. Oh well. At least they cash!

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Let's get amc to 200 kthx

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I'm getting a bit nervous about selling my covered calls

I made $1000 selling and buying them back this week but man it really feels like playing with fire (even if I'm selling calls that double my money <_<)

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Lopen posted...

I'm getting a bit nervous about selling my covered calls

I made $1000 selling and buying them back this week but man it really feels like playing with fire (even if I'm selling calls that double my money <_<)

What do you mean? Aren't covered calls already sold?

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Amc is currently giving me 450% of my money. This was pre after hours surge.

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red sox 777 posted...

What do you mean? Aren't covered calls already sold?

I sold the right to buy my 2000 AMC Shares for $1500 when the price for the end of week $7 call was $0.75
I bought that right back for $500 when the price for the end of week $7 call was $0.25

Net gain of $1000. No one exercised the right to buy the shares because I did both actions when it was well below $7

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Oh. That sounds good. Doesn't feel like playing with fire. Worst that could happen is the calls go up and you get exercised.

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Well I'd be pretty upset if I was still sitting on those $7 calls right now. It would be prohibitively expensive to buy them back so I'd have to let them ride out.

But you're right it's only risking profits. Thing is these shares get more and more powerful to sell calls with the higher the stock price and volatility go so I don't really want to lose them if I can avoid it. Like tomorrow morning I imagine I'll be able to sell a batch of $12 calls for $1500

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I have 4 4.5 puts I sold, 3 $5 covered calls and 100 naked shares.

So I only made like $500 oh well, but still not bad on a what, $3200 investment over the course of one day? Cant be salty

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Anyone that does options - is there any place that you can recommend me to read? where did you learn it from?

I am not planning on doing options but I want to read about it so I can understand what people mean by call and put and when you can cash out etc

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The past week has been the most insane week since we started these topics. Literally comical.

Nanis23 posted...

Anyone that does options - is there any place that you can recommend me to read? where did you learn it from?

I am not planning on doing options but I want to read about it so I can understand what people mean by call and put and when you can cash out etc

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

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https://twitter.com/williamlegate/status/1354166956350431233?s=19

Part of an insane thread. This is pure comedy.

I'm not touching Gamestop with a ten foot pole, but it's fun to watch

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Sunroof posted...

The past week has been the most insane week since we started these topics. Literally comical.

And the last topic said volatility was down!

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So on AMC my raw shares say +4500 then I have a stack of 9 free $5.5 calls (currently valued at $1800, but going to go way up tomorrow morning) and that 1k I got from wheeling the call. So yeah it's been quite lucrative

As for me I didn't really do a lot of reading on options. I just kinda figured it out from the price movements and stuff. I think the only thing I really didn't understand at first was how covered calls worked. Harry Potter thing I did read but it's not that informative for the mechanics. It gives you a solid way to run them that is unlikely to blow up in your face.

I can try to explain the ins and outs (as I understand them) if you really want me to though.

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Nanis, please don't do options trading. With your psychology about stocks, options trading will almost certainly end badly. It can be like short term stock trading with 10x the volatility. It is probably the single easiest way to destroy wealth (other than, I guess, shorting Gamestop).

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I posted Harry Potter because I wrote it :P

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Oh really? That's funny. Well it did help me understand selling options so thanks!

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Wow. I remember reading that a long time ago - had no idea you wrote it.

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masterplum posted...

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

Lmao I liked that you gave something like this, pretty original! not even a bad read and made me understand it a little better
Still need to read more though

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I love you guys. Now I know how the folks on Wolf of Wall Street felt! And we arent even close to that level of funds, but still!

red sox 777 posted...

Nanis, please don't do options trading. With your psychology about stocks, options trading will almost certainly end badly. It can be like short term stock trading with 10x the volatility. It is probably the single easiest way to destroy wealth (other than, I guess, shorting Gamestop).

I am not!
Not until I get back to my record high which I expect to reach in...2 years in this current pace lol

No but seriously I am doing risk management better lately, surely it hurt my gains but at least I don't panic sell (why panic sell when you only have $1500 to lose?)

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Haha I remember that clip. Didnt know you wrote it either. It is so logical to do that, but I dont know the technical aspect of setting them up (app-wise, I mean).

Nanis would do well with covered calls I think as long as he could follow 2 simple rules:

1. Never buy the call back if it's at a loss
2. Never sell a call that makes you sell a stock for a loss

If you do that you can only profit from selling calls. Worst case scenario you miss out on profits if a stock goes to the moon.

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Sunroof posted...

The past week has been the most insane week since we started these topics. Literally comical.

somehow the GNUS and NKLA week has been overtaken!

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A great example of our, or at least my, growth is how I missed out on a literal 100% profit from NKLA due to a stop order I made and I was insanely distraught for an entire two days. Then when it happened again (lol) with GME I wasnt upset at all. Just mildly annoyed for about ten minutes.

The next evolution is to not set the stop. I believe in you.

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AMC has had just a good after hours as GME

wth

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We can do it. $200 per share.

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Lopen stop trying to turn me into a millionaire lol

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Im all chubbed up for AMC

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Yeah I haven't bothered with stop limits for a long time!

Man, I Moonroof'd AMC today and sold at 5ish - I was thinking all of WSB's attention was strictly on GME and there would be a pullback before the run. Had 5,000 shares, would be up like 15 or 20k right now.

Luckily I caught the AH run as soon as it started with 3500 shares. See you at 10 tomorrow morning!

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We will be rolling in millions together.

Although it seems IVR is like 60 cents from making me a ton of money too.

What a glorious day.

If you wanna go full Wall Street Bets call math IVR hasn't had volatility up the price of the shares all that much yet and is also pretty shorted. Go for the $7 2023 call. Heck maybe IVR was with Wall Street Bets and they'll have a good portfolio out of nowhere next earnings call and rocket back up to $18 a share who knows.

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When does after market close? in 28 minutes?

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Depends on the broker.

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I can't believe I missed out

Instead amd is down 7 bucks from intra day high :(


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Gravy you should have known when me and Chris agreed on something it was unbeatable

Not too late to buy in we're going to $200 after all

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I knew that was the sign to buy, my 10 shares agreed

Unfortunately my personal life just needed to be crappy, bad luck !!!!

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Oooof. Well I knew it could happen and figured it was more likely to open higher than what I was selling at, but I didnt want to risk over $10k! Man, Id be at almost 100% gain since I bought it at $4.64. Oh well, at least I got most of it this time

Can short positions be cash settled, or does it HAVE to be the equity itself returned? I assumed the latter but I'm not actually certain.

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GME has opened in Frankfurt and is at 208 euros - that's over $250 dollars!

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Uh.....now it's at 233 euros.....$284. Could we open above $300 tomorrow morning?

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240

is your body ready

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I'm moving up my $300 sell order to $420.69, as the prophecies all foretold

I was gonna park the proceeds from my other sale back in ARK, but I noticed Cloudflare dipped end of day, maybe because there was so many internet outages and people think it was cloudflare? Gonna see if I can get in at $75

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