Investing General Discussion

Flobee · Oct 21, 2020

Khane said:
There are bitcoin trusts like GBTC.

GBTC isn't an ETF though. Its traded differently. I don't completely understand the nuance, but as I understand it if Grayscale goes under you lose your investment. If the company behind an ETF goes under your investment is secured via the SEC or something like that.

More here:

https://www.investors.com/etfs-and-...nt-trust-an-etf-but-its-not-heres-what-it-is/

Although many publications call GBTC an ETF, it's not — it's a grantor trust. It is not registered with the SEC under the Investment Company Act of 1940 and it doesn't trade on an exchange. It trades on the over-the-counter market, which has less stringent participation rules than exchanges. And unlike most ETFs, GBTC charges a high annual fee of 2% of assets.

Sanrith Descartes · Oct 21, 2020

FB going off the chains as people see SNAP earnings and expect FB to blow it out next week. Up almost 6% this morning.

Furry · Oct 21, 2020

It's probably safe to guess that presidential election season is when facebook will do best financially.

Fogel · Oct 21, 2020

Bought some shares of ETSY after it dropped to 135. Earnings are supposed to be good and while previous earnings didn't see any jumps, previous earnings had large price run ups prior to earnings.

Sanrith Descartes · Oct 21, 2020

TSLA -
Tesla Posts Q3 EPS of $0.76 on Revenue of $8.77 Billion, vs. Street Consensus of $0.60/Share on Revenue of $8.31 Billion

First move up.

maskedmelon · Oct 21, 2020

Flobee said:
I expect a Bitcoin ETF in the next 12 months

Aren’t Grayscale’s BTC, BTC Cash, Ethereum and Ethereum Classic finds ETFs?

EDIT: Nevermind! You answered this!

Borzak · Oct 22, 2020

Exxon about to have a large layoff in Canada and the US on the refining, chemical end. Guess they're looking at a never ending pandemic play. Starting to look like engineering and management. Took them a few months to get everything shut down for an extended downturn.

Sanrith Descartes · Oct 22, 2020

Just say No.
To Energy.

Borzak · Oct 22, 2020

Chemical side. The deal I got forwarded predicted an increase in asphalt prices as well since coke from the refining process is used in asphalt production and that is scaled back now. No idea on concrete. The twice a year shutdown of rotating lines at the chem plant are now extended and across many lines. I guess just shutting down production of certain products used in all kinds of shit people don't think about coming from a chem plant.

Exxon puts out a quarterly report of all shutdowns and how they expect it will impact their end customer. Normally it's cheaper to keep stuff running during a downturn than pay to shut it down and restart it which has been the previous deal. I guess this long it eventually didn't pay it keep it going. My energy stocks oddly enough are up today, I haven't looked maybe the non XoM picking up the slack. Of course the election and hope for a stimulus kind of got things off kilter in a big way.

Furry · Oct 22, 2020

Update on argentina's spiraling currency. Argentina did the sensible thing and declared war on their devaluing currency. Their military is now authorized to assist police and raid places/locations suspected of trading the currency at the unofficial rate. I'm sure this plan will successfully stabilize things.

Sanrith Descartes · Oct 22, 2020

Sometimes I love Nancy Pelosi. Her pumping Stimulus pushed airlines higher. While lost a few pennies closing my calls that expire tomorrow on the spike up, I then immediately sold new calls expiring next week at a higher strike taking advantage of the rise. When everyone figures out there is no way there are votes for a 1.8t stimulus bill in the Senate I expect the airlines to come crashing down. Pun intended. Closest thing to free money they is.

Fogel · Oct 22, 2020

What strike are you putting your new calls at? Are they covered calls or naked? I was thinking if the price is going to drop back down at some point you'd want your shares called away at one of the higher strikes, no?

Sanrith Descartes · Oct 22, 2020

Fogel said:
What strike are you putting your new calls at? Are they covered calls or naked? I was thinking if the price is going to drop back down at some point you'd want your shares called away at one of the higher strikes, no?

I rolled up to $36. I only sell covered calls, never naked. Not worth the risk to do naked options in my opinion. I normally roll about 15% up but with a 7% spike off the stimulus bullshit the $36 premium was too appealing. My cost basis is under $30 so if I get ganked its +20% on the win side. Plus I have made more than 12% on calls so far with this so I am good with a little risk. I almost went for the 11/6 calls for the juicy premium but no way I was holding past the election.

Sanrith Descartes · Oct 22, 2020

And there it is...

McConnell declines to commit to a pre-election vote on possible fiscal stimulus deal

McConnell's stance reflects an increased likelihood that even if House Speaker Nancy Pelosi and the White House were to come to an understanding - which is...

www.marketwatch.com

Sanrith Descartes · Oct 22, 2020

TSLA has probably their best quarter ever and... up 0.75%. Mr. Market is smoking crack with Hunter Biden these days. The election is just throwing everything into a blender of "who the fuck knows".

Sanrith Descartes · Oct 22, 2020

This is why I cut my losses short on INTC after their last earnings fiasco...

Indyocracy · Oct 22, 2020

Sanrith Descartes said:
Sometimes I love Nancy Pelosi. Her pumping Stimulus pushed airlines higher. While lost a few pennies closing my calls that expire tomorrow on the spike up, I then immediately sold new calls expiring next week at a higher strike taking advantage of the rise. When everyone figures out there is no way there are votes for a 1.8t stimulus bill in the Senate I expect the airlines to come crashing down. Pun intended. Closest thing to free money they is.

I did the opposite and closed out my puts

Fogel · Oct 23, 2020

Earnings are next week for cruise lines, it's obviously going to be bad news. Question is, is it already priced in or do we expect another dip?

Borzak · Oct 23, 2020

Who knows at this point, everything else is crazy. If this continues they can sell off their ships for ship breaking in the real crap part of the world I guess.

Locnar · Oct 23, 2020

Fogel said:
Earnings are next week for cruise lines, it's obviously going to be bad news. Question is, is it already priced in or do we expect another dip?

So hard to tell. Tractor Supply had great earnings, and dropped like 7 percent. Airlines been doing very well last few days. I have some orders set up to by back into cruises if they shit the bed hard again, we'll see. Still have not let go of all my march airlines positions, waiting for "stimulus" and the promised 2nd airline bailout.

I was happy to buy into tractor supply in the 130s during this dip.

I'm hoping my CVS does SOMETHING for earnings. Jesus.

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