Board 8 > Stock Topic 29

(+) Yeah! (+)

Sunroof posted...

Sure would like to know what the drop is from.

Super FUD from China mostly.

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Bear in mind that i'm only a few months into the crypto game, but my plan was to pick up a hardware wallet at some point and start moving my excess tokens there.

_stingers_ posted...

I wouldn't bother day trading it, just buy the dip and wait

But when it trades sideways for long enough I end up accumulating more than my initial investment in profits. It's more work but I'm convinced I'd be leaving money on the table by not collecting repeated incremental gains.

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frankftw posted...

So Plum, been buying long puts on RIOT?

The IV for RIOT puts is insane. Unfortunately it's just too expensive to risk

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Looking at how all crypto basically followed the same crash pattern today supports my reasoning of why the environmental concerns of bitcoin should scare the hell out of you even if you are investing in Alt coins.

If Bitcoin gets really cracked down on its going to crash the entire market. The nuance of which coins are more environmentally friendly isn't going to be felt until after a giant crash.

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masterplum posted...

If Bitcoin gets really cracked down on its going to crash the entire market. The nuance of which coins are more environmentally friendly isn't going to be felt until after a giant crash.

Yes, and on that massive dip I'll just buy more ADA especially because it's positioning itself as the top "environmentally efficient" alternative!

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ExThaNemesis posted...

Yes, and on that massive dip I'll just buy more ADA especially because it's positioning itself as the top "environmentally efficient" alternative!

I mean we finally agree on something. I have always said I had some interest in coins with actual practical purposes. I just know there is a giant bubble propping them up of useless garbage, and I make way more money waiting for it to pop.

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You are assuming that Bitcoin is going to recover with the same pattern as everything else from today's crash. Coins can start to distance themselves from being joined at the hip to bitcoin which means that even if your predicted bitcoin implosion occurs it might no longer be positioned to bring everything else down with it.

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Once again, EJWs get their way and fuck over millions of people who finally found a way to actually advance their economic status using crypto. It's almost like their end goal is ensuring that everyone is equally poor!

I am running my air conditioning nonstop out of pure spite now.

That is certainly a hot take

Cardano is my main play because of environmental reasons for sure. We'll see if the market agrees!

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I do have cardano but ETH2.0 shouldnt be worried about it imo

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yeah whenever ETH2.0 is fully released in 2030 lol

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Ah yes, notable environmentalists... *checks notes* China.

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Forceful_Dragon posted...

Ah yes, notable environmentalists... *checks notes* China.

If you don't think China and environmentalists have the same goal then I don't know what to tell you.

ChainLTTP posted...

Once again, EJWs get their way and fuck over millions of people who finally found a way to actually advance their economic status using crypto. It's almost like their end goal is ensuring that everyone is equally poor!

I am running my air conditioning nonstop out of pure spite now.

Getting shrinkage to own the libs
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ChainLTTP posted...

If you don't think China and environmentalists have the same goal then I don't know what to tell you.

Lol what level of conspiracy theory conservatism is this

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If any of you non-crypto heads want a safe and discounted stock, GS is poised for a bounce back.

ChainLTTP posted...

If you don't think China and environmentalists have the same goal then I don't know what to tell you.

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wait you guys actually think the goal of the modern environmentalist movement is to "save the planet" and not weaken the United States?

Weaken the US to what end??

Or are you confusing being ok with ceding global dominance in exchange for a healthier planet?

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ChaosTonyV4 posted...

Weaken the US to what end??

global marxism

LOL

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ChainLTTP posted...

wait you guys actually think the goal of the modern environmentalist movement is to "save the planet" and not weaken the United States?

*Grandpa Simpson Gif*

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God dammit guys keep this fruitless bickering out of here.

https://media1.tenor.com/images/54451401d52c0dd2fe9ee5752857d53c/tenor.gif?itemid=3579864

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Cardano back up to 1.80. that was the easiest $200 I've ever made

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Recovery looking healthy across the board so far.

This is war.

Bought one share of GS, went into margin (by $8.38)

See what happens, I guess.

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GS will come through for you. BRK-B and CAT are ones I believe will go up, too.

Hoping so. I plan to not buy any stocks on my account for now until I put some money in, and I don't want to put more money in my trading account for now.

I have a long term Roth IRA that I'm having buy and hold during red days. I may set up a taxable account to do the same and just load it with ETFs. Those are on an account that only has one window I can trade in, because my weakness is trading instead of holding and I want to break that habit.

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https://youtu.be/lT9Pimq6v7k

The story behind pump coin is even better than its existence. Looks like crypto winter came early. Glad I had so little in ETH and realized most of my profits on it. Gonna be interesting to see which way it swings the next few weeks.

I'll be honest though, if I had more free cash I would've bought the dip today. Looks like it's already headed back to 2k.

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yeah go my crypto recovery. I've closed nearly every position that had me uncomfortable with how many times I'd bought into them and i've withdrawn the excess funds I had to shuffle around yesterday to buy the continued dips.

(massive sigh of relief)

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Sold off my Viacom stock for a decent profit before the stock went down. Didn't sell it at the peak, but not that far from it.

Nice.

Now I'm looking to reduce other short term positions.

Though I'm now faced with an interesting issue. My biggest problem with getting a mortgage loan is that I don't have the income. Losses reported to the IRS reduce my income to reduce taxes. I'm considering holding my losing stocks now and only selling my gains, even rapidly, to get my adjusted gross income higher. Once I have a home, then I can sell my losers and get a better tax refund as my income won't matter. How risky of a play is this?

My unrealized losses are only about $700, but as someone on the edge of being priced out, this can matter.

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When I bought my house we just ignores stocks for my income calculation as it's not consistent. You should be good just using wages.

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You ignored the realized gains from stocks or only the unrealized gains?

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Both. Because it was going to make things a lot more complicated.

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In other news I'm flying today and this is the most busy I've ever seen my airport. Moreso than Christmas time. I feel like Q2 ER for airlines are going to be massive.

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Menji posted...

Both. Because it was going to make things a lot more complicated.

Makes sense. Guess I won't worry about it then. Thanks!

Menji posted...

In other news I'm flying today and this is the most busy I've ever seen my airport. Moreso than Christmas time. I feel like Q2 ER for airlines are going to be massive.

Oh definitely. The only reason why I'm not invested in airlines (except for a $5 fractional share that SoFi gave me for free) is because I think the recovery is already priced in.

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For those who want to take a chance, Kohls crushed earnings but fell 10% anyway. I reckon a recovery will happen very quickly, either tomorrow or next week. Get in while you can.

Im still learning the strategies and maths of options can someone help me out here for a second?

So I sold a call for OSTK at $73 expiring tomorrow. Got like $600 for it. The stock has been doing very well and is currently around $77.70. I decided to close my position ($1,550 commission) and then sell my shares at $77.70 ($1,400 gain). Had I done none of this and just waited for the call to expire, would I have netted the same amount since options are a zero sum game?

The reason I did this was so that I could then sell a put on KSS so that I could get quick premium since I know itll go up.

Thanks

So you own 100 shares.

Someone paid you 600 for the option to buy at 73.

You *paid* 1550 fee to nullify the call?

Then sold at 77.70?

I'd need to know what your original price was, but that seems... not good. Also it's relevant how many sets of 100 shares you own.

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I think $69.90.

Had I not closed it, I would have sold at $73 rather than $77.70.

How many sets of 100 shares? Because that's incredibly important to the math.

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I think what it comes down to is whether the commission i paid is less than the difference in gains between selling at $73 versus $77.70.

Um. 4

Yeah you really have to clear up how many sets of calls and puts you are discussing. Here is the math for those figures (+600 and -1550) for 1 set of 100 shares. But in reality the prices were +150 and -387.5 for each set of 100 shares. Very important to know the scale of those premiums.

Scenario 1: You let the call trigger.

You gain 600 from the premium, you gain 7,300 from the sale..
Subtract your original price of 6,990
Net Change: +910

Scenario 2: You void the call and sell the asset.

You gain 600 from the premium. You gain 7,770 from the sale.
You lose 1550 to close the call. And subtract your original price of 6,990.
Net Change: -170

.

.

Those same calculations involving FOUR sets of 100 shares:

Scenario 1: You let the call trigger.

You gain 600 from the premium, you gain 29,200 from the sale. [+29,800]
Subtract your original price of 27,960
Net Change: +1,840

Scenario 2: You void the call and sell the asset.

You gain 600 from the premium. You gain 31,080 from the sale. [+31,680]
You lose 1550 to close the call. And subtract your original price of 27,960. [-29,510]
Net Change: +2,170

So you came out ahead.

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Interesting, thanks. So there is scaling? I thought it was all equal. Good to know...

But I think you added an extra digit? I definitely didnt gain $30k minus sell back. It was $3k.

And in an alternate universe where you were more confident it was going up you could have bought 400 shares for 27,960 and sold 400 shares for 31,080 and had a gain of 3120.

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Sunroof posted...

But I think you added an extra digit? I definitely didnt gain $30k minus sell back. It was $3k.

You owned 400 shares, correct?

At $77.70 apiece your sale should have been for $31,080

When you subtract the price you paid for the share ($69.90 apiece for a total of 27,960) your difference is 3k ($3,120 to be exact), but that is ignoring the premiums.

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oops my fault, youre right.