Sanrith Descartes
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I got most of that. The real question is then order placement. Do i getting relegated to that back of that line in terms of filling the order?
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Blazin
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Trades are not really queue'd like that, I can't speak from to the actual technicals of how the primary exchange picks from all available when all other things are equal. But just keep in mind it's going to be rare that there is any other trader than you when you are just trading some random option on a stock. Sure if it's a memestock crazy day or maybe major index options then there are more active participants. You are trading with the market maker the majority of the time.
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Sanrith Descartes
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12 million dollar bet against MSFT?
Thats 193 million dollars to cover. Who the fuck has that kind of leverage?
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Fogel
Mr. Poopybutthole
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Yeah, too big a chunk a change for anything but a huge fund or whale who wants a hedge on their massive MSFT position I'd guess
Sanrith Descartes
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I know its a 2022 option, but earnings season is here. Does anyone actually think Big Tech isnt going to crush earnings?
Sanrith Descartes
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Sold some DAL puts expiring in Aug. $32 strike and 32 cent premium.
edit: Fuckers are printing money.
edit: Fuckers are printing money.
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Sanrith Descartes
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Sanrith Descartes
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I have been stalking DNUT since the IPO. IPO was way over-priced and the financials don't support that valuation. $14 share price gives it a valuation of just around $2b which I think is reasonable. I am trying to write the $15 Aug puts for $1.00 and have come close a few times but havent hit yet.
Fogel
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For how new it is I feel way more comfortable writing BCRX puts for the same/more amount of premium
Sanrith Descartes
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DNUT did over a billion in sales last year even with the lockdowns. BCRX did 17 million in sales and it was the lowest sales in the last 5 years. I am ok owning DNUT at a $14 cost basis if exercised.
Fogel
Mr. Poopybutthole
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But DNUT only has 20% profit margin, BCRX is 90%. And sales will be back up this year because they already got through their FDA approval, so it has a lot more growth potential than DNUT
Sanrith Descartes
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Sanrith Descartes
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Wrote the $6 strike Aug puts on DIDI for 40 cents. Now this is straight up gambling.
Diamond handed the shit out of those puts this morning. Got a little dicey when the price was threatening to punch below $7.
Diamond handed the shit out of those puts this morning. Got a little dicey when the price was threatening to punch below $7.
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Sanrith Descartes
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Sanrith Descartes
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Sanrith Descartes
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Wrote the Aug puts for DNUT. $15 strike for 80 cents. I had fair market value on the IPO at $14, so if I get exercised with a $14.25 cost basis I am good with it.
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