Sanrith Descartes
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Investing General Discussion
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Sanrith Descartes
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Just a walk down memory lane and a cautious warning for everyone who thinks SPACs can only make you money. If you don't recognize this symbol, you should do some reading.
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Kiroy
Marine Biologist
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I mean they must be larping it all anyways or they'd be completely bankrupt at this point?
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Yeah, why do they feel the need to add cunty remarks to their posts? Makes them look petty.
edit: that’s a parody account, but still they do the same thing
Sanrith Descartes
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Blazin
Creative Title
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Blazin You avoiding writing puts expiring next week on QQQ with Big tech reporting next week? Or Are you writing them expecting a big push up with earnings?
Ended up selling 20 SPY $365 2/1 puts at the close, so still just biding my time and collecting a little premium while I look for the signals of where we are headed after earnings rush.
Sanrith Descartes
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Sanrith Descartes
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Yes. Its Twitter. The real account name is after the fake name. I made the mistake of assuming people would actually read that.
TheBeagle
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I'm in the middle of learning a lesson with them right now. But I'm also steelhands on CCIV right now as well.
So I think the lesson is"don't have bad luck, only run good". Sound about right? lmao
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I bought more TRIT on the dip and look forward to the judges clearing their name for takeoff
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TheBeagle
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I'm out of cash right now, which is probably a good thing. Every time I chase the cost basis down I still end up with that cash locked up for months. I call that lesson "Don't buy stocks at Goodwill".
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Fogel
Mr. Poopybutthole
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So it's been a month since I started my SPAC mania, I bought in a lot on 12/17 to 12/24 and here are my results for spacs that I've bought and then sold
Total $ purchased: 24,603
Profit: 4,617
Average % gain: 18.75%
I still have a ton of spacs that are up by quite a bit that haven't sold yet because most aren't even at the rumor phase, most notably ZNTE warrants that are up almost 100%
I added up the cost basis and the current value of the spacs I'm still holding:
Cost basis: 46,256
Current Value: 52,523
Considering only a handful of these spacs are at the rumor phase I'm still up over 10% for under a month. Warrants are looking way more profitable but they don't have that 10$ safety net that commons have, so take that into consideration. All in all the spac experiment has been quite successful I'd say.
Total $ purchased: 24,603
Profit: 4,617
Average % gain: 18.75%
I still have a ton of spacs that are up by quite a bit that haven't sold yet because most aren't even at the rumor phase, most notably ZNTE warrants that are up almost 100%
I added up the cost basis and the current value of the spacs I'm still holding:
Cost basis: 46,256
Current Value: 52,523
Considering only a handful of these spacs are at the rumor phase I'm still up over 10% for under a month. Warrants are looking way more profitable but they don't have that 10$ safety net that commons have, so take that into consideration. All in all the spac experiment has been quite successful I'd say.
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