Board 8 > Stock Topic 35

(+) Yeah! (+)

It's about time I listened you on one of your picks Blur so I will buy some if my broker allows it.

I'm definitely glad I posted about it just in time for you guys to buy the cheapies. .20 again would be amazing. It's just such an easy homerun with the share cancellation, you don't even have to wait for the merger. That pushed back court date was an absolute blessing since I sold some high just in time and I wanted more shares. Gonna try to get back to around 150,000. Worst case scenario is the incredibly unlikely event the share cancellation is not approved (and I mean incredibly unlikely), but at these prices, I guarantee you'll still make some money from it even if that happens.

I still have unwavering faith in George Sharp for a successful merger, but I just don't know the timeline for that and I've been waiting for so long. Definitely selling half of my GOFF when the share cancellation goes through. I'll just keep buying back cheapies if the merger keeps taking forever.

Also, make sure to follow George Sharp on Twitter and turn notifications on. His updates on Twitter are what send the stock flying in either direction.

Menji posted...

Where can we buy GOFF?

Yeah, I've bought mine on TD Ameritrade. It's pink current now so it should be on any broker that trades OTC stocks.

Okay looks like Schwab works too for a fee.

StartTheMachine posted...

Also, make sure to follow George Sharp on Twitter and turn notifications on. His updates on Twitter are what send the stock flying in either direction.

I made a twitter account to follow him a few months back and he never accepted my follow :(

Menji posted...

Okay looks like Schwab works too for a fee.

I made a twitter account to follow him a few months back and he never accepted my follow :(

Oh yeah, I totally forgot that his account is private now and he is strict with followers. It's pretty dumb because he kind of needs the attention of investors during this period. Then again, ultimately I think he just doesn't care because he only cares about the company he eventually merges with and hands off the stock to.

That's still dumb if you can't even follow him and see his tweets though. His account wasn't private when I first followed him in April of last year.

Hard rejection at 3 makes me think we're more likely to test 3.5 today than go under 3. Market maker has over a million shares to deliver if it stays over 3. Some of those will need to be hedged for.

Crossing my fingers

Holding convincingly above 3 right now you should be able to sell calls next week at $4 for some good premium again. Just wait for any upward spike and sell calls on the spike. NOT FINANCIAL ADVICE THOUGH.

I usually sells calls the Friday before (today) or Monday to maximize premium. Unfortunately, since BBIG is so cheap, it would cost me thousands to close the open position. Therefore, I didnt do it today.

Well you do you but I'll just say that strategy is better employed on more stable stocks

When a stock price is moving 20% day to day timing a spike is going to make you more premium than the day of time. I'm not saying diamond hand forever but I expect a fierce spike of some sort (basically vertical line on the chart) between Monday and Wednesday due to 1.5 million open options at $3 and MM needing to deliver those.

Selling a call when it spikes to $3.40 on Tuesday will make more money than selling a call when it was hovering at $3.10 all day today.

Very true. Unfortunately I wont be able to monitor a lot since Ill be tracking next week. What are you thinking it will do next week?

Without news we'll see some huge price spike somewhere between Monday and Wednesday. Has done it time and time again when it finishes over the option strike. It may happen right at market open Monday. If that happens and you're here for it, selling calls sometime on the way up or down will probably make you a lot of money.

With news, more specifically the form 10 being released with dividend date, I have no idea. If we get news I would advise you to pick your exit price, sell enough BBIG to get your initial investment out, then let the rest of your shares ride to the moon with me. I put the absolute floor with dividend at around $12. Realistically speaking it could go much higher.

I will say I've got all the tingly feeling going on right now about that market close

Tons and tons of 5 digit bid walls were pushing it up. SOMEONE KNOWS SOMETHING. They may not be right about the timing but I do think we're getting something pretty soon. Maybe not next week, but someone on the inside thinks something is imminent for some reason.

Shouldve known PTON was gonna go up. It has earnings this week, no way it goes down anymore even with shitty numbers.

Hope you sold some calls up there at $3.32 that was probably a good low risk spot to sell some.

Literally JUST got reception. Im on a plane. I missed that opportunity.

Im playing it safe and selling $3.50 calls again. I just want to make gains on the premium. Just got $9kish for this week on top of last weeks $7kish.

I continue to be impressed with homie stock EVRI.

Get it EVRI.

PTON doing what it has to in order to revive itself.

Starting to lose faith in BBIG

GOFF up 13%

Yeah, GOFF looking good. Hearing is tomorrow for the share cancellation. So, tomorrow Sharp has to prove that the previous owner, Calasse, created preferred shares that he never paid for. Sharp explains it here:

https://twitter.com/GeorgeASharp/status/1490845020848472064?t=z0ST2cDUrflIXRkuG5NoMg&s=19

To be clear, in order to get the shares cancelled, it is not enough to show that Calasse committed fraud as CEO of $GOFF. The only way to get the shares cancelled is to show that he received them for no value received which we believe we can do.

We know he was a total fraud who collapsed the company. It was a perfect candidate for a custodianship with its share structure and a share cancellation would make it even stronger. I don't see how the court could side with a scam artist like Callase, but I'm not a lawyer and don't know the ins and outs of cases like this. Hopefully this will be settled quickly.

But either way, if you bought GOFF in the .20s you have cheapies even if the court stuff takes forever. Oh, and Sharp removed the protection from his account today. This tells me he wants new investors and might be ready to announce a merger soon.

Let's rock baby

Lets go! I bought $30k more at $3.12. I would be very okay with $3.50 striking Friday.

Not sure what my average is now. Maybe $3.45.

But Ive gotten around $10k in premium so far.

As I said very hard to lose with this stock at these levels. The amount of premium on selling calls that net you 20% is insane.

But it's justified. Very volatile. I've got a backbone of long calls and shares but I'm also +100% on eow calls bought early this morning right now (I really should sell half but I'm greedy and it's a small amount). Two options right now are we Smash through $3.50 or we get pinned just under it. I'm feeling smashy though.

My fear is we skyrocket past $3.50 today or tomorrow, then crash well beneath it before expiry day. That would suck.

Crazy! I really hope it stays above $3.50 now. Literally wont care if it goes to $10, I just want these gains.

Jesus Christ EVRI is on a roll for a non-meme, non-earnings report stock.

Holy GOFF

Kinda wish I opened that Fidelity account sooner than Friday U_U

I guess that hearing must have went well for shareholders. I need a Fidelity account too it seems.

Boom. You're welcome. Hope it closes over .50 again considering it was just there prior to the news.

I'm never gonna get on these uber pennies where you're gambling entirely on management cleaning up bs and nothing to do with an actual underlying company. I just dont trust myself to have the conviction to hold if it dips. Glad it worked out though.

You're always gambling on management teams in the market to one extent or another. By the way, the specific news was share cancellation and a forward split. Only ever see reverse splits in the OTC, so that says a lot about his expectations for the company coming in. Been waiting for these custodianships for close to a year now, and though I've been flipping for good money, I've still held most of my shares for the long term. It's about time for your boy to get paid.

I will say though if enough people are savvy to the hearing people buying in entirely to dump off the pump from cancelled shares could offset long term gains. I'd play carefully if you don't actually believe in its growth going forward

StartTheMachine posted...

You're always gambling on management teams in the market to one extent or another

True but in the end it should be whether management screws up an idea or executes. If you don't believe in the idea itself that's where conviction becomes a problem.

Lopen posted...

I will say though if enough people are savvy to the hearing people buying in entirely to dump off the pump from cancelled shares could offset long term gains. I'd play carefully if you don't actually believe in its growth going forward

Yeah, I could have so much money if I flipped these things more. Would already have been able to get my mortgage-free house for sure. I have a problem with not selling because the merger thought is too enticing. That said, I only do this with Sharp stocks. Played a few other custodianships and sold the news every time and now they're all garbage. I warned the discord don't trust anything but the Sharp custodianships! *shrugs*

Sharp just announced the name change is coming too for GOFF. Lots of catalysts so I don't mind holding for now. I might sell half of my .20s, but I'd rather wait for all my shares/my average to be over 100%. I bought a bunch of .28s last week to double down on the cancellation hearing. Those aren't quite 100% yet.

There's also fuckery from short selling too so yeah lots of layers

I could have triple my money on BBIG now if I just sold that January pump (could have bought back in for 1/3 the price) but the funny thing is it wasn't even based on the news I was waiting for so there was no chance I was gonna sell and risk missing the moon journey

I do think if you believe in the company that just holding will maximize gains long term over trying to time jumps, but yeah easier said than done sometimes

Stay above $3.50 BBIG

Lopen posted...

I'm never gonna get on these uber pennies where you're gambling entirely on management cleaning up bs and nothing to do with an actual underlying company. I just dont trust myself to have the conviction to hold if it dips. Glad it worked out though.

I feel like there should theoretically be massive amounts of alpha (expected value) on these trades because they are high risk and the information is so out of the way that almost everyone is going to stay away from not having or not understanding the information. Lots of research needed though to make sure you're not the sucker.

I like hearing about you putting in the work and making the money Blur! kudos!

Also, the small size of these companies can be an advantage because it means the bigger players won't be interested because it's just not big enough to move the needle on their returns. Warren Buffett couldn't buy GOFF in a volume big enough to matter to him without buying the whole company.

Agreed. Proud of you Blur!

Apparently my BBIG purchases are considered a wash sale which is bringing my average cost to $3.68 somehow. I dont think this will matter at all but I was hoping to look at green.

Awesome GOFF, so sound like the share cancellation can happen or did happen? Are you waiting for it to happen to sell?

DIS finally showing some life with their earning beat.

Hooray for Uber's earnings beat!

Menji posted...

Awesome GOFF, so sound like the share cancellation can happen or did happen? Are you waiting for it to happen to sell?

Share cancellation confirmed by the courts but no, it nor the split NOR the name change have happened yet. So many catalysts! All of which make me think the big one, the merger, could actually be close. These are the same steps Sharp took with TSNP prior to announcing HMBL, minus the share split. But yeah, I've always been long GOFF and GVSI and ultimately in it for the merger. That said, when you can flip and make enough gains to have zero risk, why wouldn't you? So I do both things to deleverage risk.

I took some profits today between .45 and.479 (multiple orders). Sold around a third of my position and plan to sell more tomorrow. Expect it to trade in the .40s for a bit, though we certainIy may breach resistance at .50s tomorrow and stay there some time first. So much support. 100k+ share bids were coming in at .45 and .46 and this was hours after the announcement. This is the penny market though, and I figure no way we don't get dip days. Would be nice to see .40 become the base but wouldn't surprise me if we get .30 dips. I doubt we'll ever see the .20s again (pre-split that is). Only exception is if things take absolutely forever. But these next few catalysts will still take a couple weeks to happen so there should be plenty of time for dips. Right now I need to be smart and take profits.

My game plan: sell in total 2/3rds of my position and just have 50k shares left. Hope I can buy back low/mid .30s or so before these catalysts happen. Get 150k shares again before the split, now with a bunch more realized gains. Then hope we get right back to these prices when the split happens. I bet we do. 300k shares yes please.

Man, what a glorious day today was.