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Jysin

Jysin

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So, Cathie was on a SQ buying spree recently. Between that and COIN getting smoked overnight (SEC after them), she's seeing a lot of red this morning.
 
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Burns

Burns

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Jysin said:
So, Cathie was on a SQ buying spree recently. Between that and COIN getting smoked overnight (SEC after them), she's seeing a lot of red this morning.
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She is just trying to offset her huge, future, capital gains taxes bro. Get off her back!

2023-03-23 08.40.45 www.zerohedge.com 91308ce720f2.png
 
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Sanrith Descartes

Sanrith Descartes

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Took a starter position in UNP at $184. I made some good money in it a couple years ago and am circling back for more fun.
 
Borzak

Borzak

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Don't know anything about Cathie Woods other than the stuff she gets mentioned here for. Looked her up on wiki.

All in the same paragraph.

Wood was named the best stock picker of 2020 by Bloomberg News editor-in-chief emeritus Matthew A. Winkler.

However, her flagship Ark Innovation fund fell 24% in 2021 and, in the first quarter of 2022, it was the worst performer among equity funds covered by Morningstar, Inc.
In early 2022, eight other funds managed by Wood, including funds focused on financial technology and space exploration were among the worst performers in their categories.
 
Jysin

Jysin

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Technical analysis example. A very clear macro trend line that bounced support for SQ nearly exactly to the penny this morning.

SQ.jpg
 
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Gravel

Gravel

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Borzak said:
Don't know anything about Cathie Woods other than the stuff she gets mentioned here for. Looked her up on wiki.

All in the same paragraph.

Wood was named the best stock picker of 2020 by Bloomberg News editor-in-chief emeritus Matthew A. Winkler.

However, her flagship Ark Innovation fund fell 24% in 2021 and, in the first quarter of 2022, it was the worst performer among equity funds covered by Morningstar, Inc.
In early 2022, eight other funds managed by Wood, including funds focused on financial technology and space exploration were among the worst performers in their categories.
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It's baffling. I assume people give her money to manage because they're brainwashed into thinking she's some kind of star, based on media appearances.
 
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Sanrith Descartes

Sanrith Descartes

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Gravel said:
It's baffling. I assume people give her money to manage because they're brainwashed into thinking she's some kind of star, based on media appearances.
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CNBC basically anointed her the next coming of Jim Cramer and had her on every single day because she bought tech stocks during one of the greatest tech bull runs in history.

The irony is anointing her the next Jim Cramer has proven prophetic.
 
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Sanrith Descartes

Sanrith Descartes

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Just wrote the SPY puts expiring tomorrow at the $385 strike. 27 cent premium. I am ok owning it at that price.

Dice Vegas GIF by The Weeknd


edit: Man, writing puts on SPY really does a number on your cash available to trade. It puts the trading Blazin Blazin does in an entirely new light.
 
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karma

karma

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I did the math one time (even though he told me not to) and he tied up more cash in a single trade by a magnitude of 5 than I have in my trade account lol.
 
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Sanrith Descartes

Sanrith Descartes

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Mist said:
You have to buy 100 shares?
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Each options contract is 100 shares. So for cash covered puts, yes you have to lock up the cash for 100 shares per contract at the strike. 385 strike means $38,500 per contract.
 
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ShakyJake

ShakyJake

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Sanrith Descartes said:
Each options contract is 100 shares. So for cash covered puts, yes you have to lock up the cash for 100 shares per contract at the strike. 385 strike means $38,500 per contract.
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No, contract prices vary per strike. Right now, a SPY CALL at 385 strike price is $15.38. So, 1 contract will cost you 100 x 15.38 = $1538.

FYI market starting to tank...
 
Sanrith Descartes

Sanrith Descartes

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Welp, I certainly could have timed those puts better. I still think $385 should hold up tomorrow but it cost me a fuckload of lost premium.
 
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Sanrith Descartes

Sanrith Descartes

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ShakyJake said:
No, contract prices vary per strike. Right now, a SPY CALL at 385 strike price is $15.38. So, 1 contract will cost you 100 x 15.38 = $1538.
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Thats if you "buy" the puts. I dont buy, I write. I get that premium, I dont pay it. I have to put up cash to cover the shares at the strike price in case I am assigned and have to buy the shares.
 
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