Board 8 > Stock Topic 30

(+) Yeah! (+)

ExThaNemesis posted...

Ugh I sold WAY too early on AMC but I was so skittish to be caught out like with GME.

Bought at $9.50 and sold at $29. UGH.

never feel bad about this. could just has easily been that if you had held that it would have plummeted to $8. I would have sold around there too.

grats on tripling your money!

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CoolCly posted...

never feel bad about this. could just has easily been that if you had held that it would have plummeted to $8. I would have sold around there too.

grats on tripling your money!

Yeah, congrats on the tripling! Look at it this way - the move from $9 to $29 gets you a much bigger gain than if you had bought at $29 and sold at $64.

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red sox 777 posted...

Yeah, congrats on the tripling! Look at it this way - the move from $9 to $29 gets you a much bigger gain than if you had bought at $29 and sold at $64.

Yeah I really agree with this point of view.

I remember when the GME stuff happened, I had bought in at $71 and it got to $450 and i didn't sell, because I was thinking "man, it could go to $1000! That would be so good" and then I ended up selling mostly at $200-300.

But really - would I ever have considered buying at $450 at that point hoping it just doubles to $900-$1k? No way - way too much risk just for 2xing my money. I had already 6x'd my money at that point which was such a big win. In my mind I was thinking "I could 12x my money!!!", but thats not really the bet I was making at that point. Big mistake in decision making imo.

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Always sell half at double point if you think it's going to go up that's what I say

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Did anyone put at least 25% of their portfolio into AMC?

DoomTheGyarados posted...

Or go back in time and listen to Chris last summer when he told everyone that AMC long term was a great investment when he bought it for 2.50.

I wish I could go back in time to last summer and actually start investing like I planned to.

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I wish I could go back to a year ago and just go all in on GME at $4.

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red sox 777 posted...

I wish I could go back to a year ago and just go all in on GME at $4.

Diversify.

A bunch on GME at 4. A bunch on BTC and ETH.

We could retire early, boss.

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This is how people go broke.

Lopen posted...

SNDL lookin PRIME to pop

Meme season is runnin wild. This is one with a lot of upside even with shares if you're averse to calls. Double to triple candidate here

Why SNDL specifically?

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Not sure really. It just flew to $4 last time this Gamestop crap happened and has a graph that implies it has been being shorted

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Nice call!

Stop fucking selling god damn it

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Nanis23 posted...

Stop fucking selling god damn it

oh

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Hopping back into the calendar spread game with some AMC calendar spreads.

Make money if AMC next friday is between 30 and some mid 100 number that is too large for my graph to show



Maybe I should bet more than 2000

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GS continues to be red proof.

This chart tempts me



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All right AMC. All you need to do is not be above 100 next friday and I make money

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You sold a call on it or what?

Very complicated calendar spreads.

I also just sold a covered call of it that expires today. $700 for an option that expires in 5 hours is completely insane.

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If you really want to know moonroof, this is my current AMC position. A little worse for the day as it fell from $55 to $45 since making the first move



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And now it crashes

Aw damn, looking like that covered call was not a good plan. We'll see if it recovers

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Yeah I have no idea what all that means lol. Hope it works out though.

Its basically a stabilization play.

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The one thing that could slaughter me is transaction costs, as I need to get out of these positions before they execute

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Lopen posted...

Not sure really. It just flew to $4 last time this Gamestop crap happened and has a graph that implies it has been being shorted

Works for me.

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I know, don't get mad at profits, but I sold one share of AMC at $45 and I could have sold at $61 later.

Oh well. Still have 3 shares and made 5x profit from that one share.

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My funds clear with schwab tomorrow so I can buy GVSI, guess it's nice it keeps dropping.

Blur, any update on the drop?

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Wow, ABNB may not finish above $145 after all. Another reason to not do calls.

Sunroof posted...

Wow, ABNB may not finish above $145 after all. Another reason to not buy calls.

FTFY

If you sold a put for $145 its close enough that shouldnt matter at all. You can always flip it next week

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I sold a call, not bought. I said what I said because I could have sold at $150 yesterday rather than $145 (or lower) tomorrow.

I received a $1,000 incentive award at my job a few weeks ago. I was humbled that my effort and contributions were being recognized, but I couldnt care less about the $1,000. I literally scoffed to myself and said, I make more than that in a week selling calls. Thats when I realized that the stock market is just stupid.

Whoa. AMC actually recovered and went from $40 to $65 today? Wow.

Sunroof posted...

I received a $1,000 incentive award at my job a few weeks ago. I was humbled that my effort and contributions were being recognized, but I couldnt care less about the $1,000. I literally scoffed to myself and said, I make more than that in a week selling calls. Thats when I realized that the stock market is just stupid.

I mean, at some point you'll be making enough in the stock market that you won't feel very motivated to work. This happens to a lot of people as they get older. That's the magic of capitalism.

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Sunroof posted...

I don't get this kind of thing. Meme stock traders have been overwhelmingly successful so far. If what they are learning is to buy low and sell high, seems like that lesson will feed them for a lifetime.

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Sunroof posted...

I received a $1,000 incentive award at my job a few weeks ago. I was humbled that my effort and contributions were being recognized, but I couldnt care less about the $1,000. I literally scoffed to myself and said, I make more than that in a week selling calls. Thats when I realized that the stock market is just stupid.

It's a stupid thing to me personally when I sometimes make more trading stocks using $11k in play money in a single day compared to working. The fact I have money makes me money. It doesn't feel right, in a way.

(I still have to work because I need regular, stable income, and I have loser days that make me lose a lot in a day, just saying though)

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I don't mind individual day traders, applaud the ones who strike it rich and retire to a beach somewhere, and feel basic human sympathy for the ones who fuck up and blow their life savings. It's all far less amoral to me than something like being a full-time landlord and evicting your struggling tenants.

You do you, day traders young and old.

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After a while you get used to the swinginess and learn to mentally categorize investment/gambling gains and work income differently, or at least that's how it's been for me. The former are inconsistent and there can be losses, so I generally do not like to spend money from gains. All gains need to stay invested and who knows, there may be losses next. Because when there are losses, you can't unspend them.

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I meticulously separate my stock funds from my regular funds. I havent spent a single penny of my stock funds, let alone my gains. Im fortunate to have a high-paying salary so that I dont need this extra income. I often ask myself what I intend on spending my gains on and I always come back to future house, college for kids if I ever have any, and other things like that. I have no intention of spending the money on myself.

I will say, I got very lucky with that $120,000 gain overnight. As a result of that, I have been able to consistently earn thousands of dollars a week on incredibly safe plays. As mentioned, its easier to make money when you have money.

Sunroof posted...

As mentioned, its easier to make money when you have money.

Only took you going from 10x to 20x what most people in this topic have in the game to realize it

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Oh haha

For some reason I thought today was Friday and was super confused about the option prices.

I exited my high risk covered call of AMC for a $300 gain. All the other calendar spreads still rolling

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Lopen posted...

Only took you going from 10x to 20x what most people in this topic have in the game to realize it

I dont mean this in a crude manner, but I sincerely dont get why people put forth this much effort and endure the stress that comes along with it to make anything less than $1,000 a month. Thats why I asked those who had AMC whether they put in at least 25% of their portfolio into it.

Im probably just naive to how important a couple hundred dollars is to some people since I havent ever had to worry about money.

I mean 25% is insanity, but I had $8000 tied up in AMC earlier. I think thats a decent amount

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Sunroof posted...

I dont mean this in a crude manner, but I sincerely dont get why people put forth this much effort and endure the stress that comes along with it to make anything less than $1,000 a month. Thats why I asked those who had AMC whether they put in at least 25% of their portfolio into it.

Im probably just naive to how important a couple hundred dollars is to some people since I havent ever had to worry about money.

It doesn't necessarily take that much effort or stress. Plus, this thing is highly scalable. Investments compound exponentially.

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Sunroof posted...

I dont mean this in a crude manner, but I sincerely dont get why people put forth this much effort and endure the stress that comes along with it to make anything less than $1,000 a month. Thats why I asked those who had AMC whether they put in at least 25% of their portfolio into it.

Im probably just naive to how important a couple hundred dollars is to some people since I havent ever had to worry about money.

Well some of us do make more than $1000 a month with less money

But you do have to do higher downside plays to do that with less starting capital. Which is pretty much why it is easier

To put things in perspective I went from 600 to 5k (actually 3500 now!). If I had done the same maneuver with 6000, I would have an easy cash out right now for a 29000 profit.

Now you say with 6000 I'd be more prone to a panic sell but keep in mind I'm only throwing at these things what I'm feeling safe to lose. If my total value is 10x what it is now then risking 6k has a lot less weight than it would in my current position

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Sunroof posted...

I dont mean this in a crude manner, but I sincerely dont get why people put forth this much effort and endure the stress that comes along with it to make anything less than $1,000 a month. Thats why I asked those who had AMC whether they put in at least 25% of their portfolio into it.

I do stocks as a hobby. I have fun playing around with them. Of course, I try not to lose money and I try to maximize my gains, but ultimately, it's a hobby.

I've earned an average of $100 per month since I started, counting all my gains and losses. The majority of the time, I'm playing around with stocks while I'm working and waiting for phone calls. So the low net income doesn't bother me at all.

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Oh yes, let's go, Five Below

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Nice! Hopefully it hits double digits tomorrow.

another boring crypto sell-off tonight. Yawn.

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