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Sanrith Descartes

Sanrith Descartes

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Fogel said:
Kinda glad I only did puts on pltr, couldn't imagine watching it go from 33 to 22. I also ended up going with the call on GMHI before it tanked yesterday too, so that worked out.
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$22 a share looked amazing on the way up. Less amazing on the way down. Perspective is funny, isn't it.
One of the key takeaways I learned from Blazin Blazin was about writing puts rather than being on the buy side.
 
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LachiusTZ

LachiusTZ

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Sanrith Descartes said:
If you forget the hype and FOMO, PLTR is probably fairly priced in the $14-$18 range. At least until we see the next earnings report. The contact tracing contracts could provide a big boost. What is your cost basis on your shares?
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350 at 9.50
100 at 27 (these are the ones I bought on a dip wanting to ride volatility)
 
Sanrith Descartes

Sanrith Descartes

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Locnar said:
I've kept things I should of sold (not PLTR, diamond hands till death with that) because of "let me wait until January to take that profit due to taxes". We'll see in January if this was a wise or dumb move.

But my hilarious first foray into the world of options have been a spectacular failure. The PLTR calls that expire in 2 days that cost me something like 3k are now worth a whopping $150 dollars lolololol............
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I am not in anyway looking to give you false hope, but with the immense volume of options that were being played at those skyhigh prices, the odds are above zero that there could be some big institutional players holding the bag on lots of options and we see a "magical" spike upwards just long enough for them to get out of them. Keep watching the stock and look for any opening.
 
Sanrith Descartes

Sanrith Descartes

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LachiusTZ said:
350 at 9.50
100 at 27 (these are the ones I bought on a dip wanting to ride volatility)
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$9.50 is glorious. I would take the 100 at $27 and sell covered calls each week out-of-the-money. Even if you get 25 or 30 cents a week, its generating income for you. Strike them at the 27 you paid or maybe 28 depending on how the chain looks each week.
 
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LachiusTZ

LachiusTZ

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Sanrith Descartes said:
$9.50 is glorious. I would take the 100 at $27 and sell covered calls each week out-of-the-money. Even if you get 25 or 30 cents a week, its generating income for you. Strike them at the 27 you paid or maybe 28 depending on how the chain looks each week.
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I feel like a retard for not thinking of that
 
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Sanrith Descartes

Sanrith Descartes

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Locnar said:
But my hilarious first foray into the world of options have been a spectacular failure. The PLTR calls that expire in 2 days that cost me something like 3k are now worth a whopping $150 dollars lolololol............
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We have all been there in one form or another.
Enter bad trade? check.
Trade goes south? check
Double down to "dollar cost average my bad trade"? check
Rinse and repeat the dollar cost average 3 more times because I am an idiot? check
Finally come to your senses and admit it was a shitty trade? check
Eat the loss but learn a valuable lesson? check

ps.. I have never bought a call option since.


1606918809419.png
 
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Sanrith Descartes

Sanrith Descartes

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LachiusTZ said:
I feel like a retard for not thinking of that
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I did almost the exact same thing with MP last week. it went ballistic and without thinking I just put a trailing stop loss order on which popped 10 minutes later. And as I was patting myself on the back for being so smart and taking a 70% gain I said "why the fuck didnt i just sell a call on it?" 'Cause I am dumb sometimes.
 
Sanrith Descartes

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For those with a strong stomach, NIO is down 11% after a drop of about 10% yesterday. There is probably some nice premium to be had on the 12/18 expiry puts when it opens down this hard. Its going to open around $40. It has solid support way down between $20 and $25. writing puts with sub-$30 strike might be a good play. I have some $27 I wrote a few weeks ago. Either free money or you end up owning some shares in the Chinese TSLA.

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Fogel

Fogel

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Sold my MP for 19.75, didn't have a full 100 for calls, it immediately dropped to below 19, had bought in at 15. GMHI and PLTR are having a race for who can close lower
 
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Sanrith Descartes

Sanrith Descartes

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Fogel said:
Sold my MP for 19.75, didn't have a full 100 for calls, it immediately dropped to below 19, had bought in at 15. GMHI and PLTR are having a race for who can close lower
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I just wrote more puts on GMHI at $12.50 strike for 12/18 at 70 cents premium.
 
Tarrant

Tarrant

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Gosh damn I took a bath after hours yesterday when OVID announced the failure of one of their primary drugs they’ve been developing. Lost 55% of its value in an instant.

Fuck me man.
 
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Sanrith Descartes

Sanrith Descartes

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Fogel said:
Read my mind, but I got in at .65
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Bought to close my $10 strike puts on GMHI for the nickle and freed up more cash. NIO bounced off the -11% back up near even. Im bummed I couldnt take advantage of it because I dont want anymore contracts on it :mad:
 
Locnar

Locnar

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Well I bought another 20 contracts each for PLTR may and nov. I wanted to post here for accountability because they are ALREADY down and soon ill be too embarrassed.

I want all of you to witness my glorious rise on the wings of angles, or a fall so low I shall never recover while this age lasts....

I'm "improving" at options, I at least set a limit order for the ask price somewhere between the ask and bid, both were near instantly accepted lol, not a good sign.....
 
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Sanrith Descartes

Sanrith Descartes

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Wrote VLDR puts with $12.50 strike 12/18 for 50 cents. I may end up with the VLDR shares but I like the idea of having both of the major LIDAR players (GMHI).
 
Tarrant

Tarrant

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Tarrant said:
Gosh damn I took a bath after hours yesterday when OVID announced the failure of one of their primary drugs they’ve been developing. Lost 55% of its value in an instant.

Fuck me man.
Click to expand...
To piggy back on this, it’s for at was changed from $10 to $4 and is trading at just above $3 right now. I’m gonna try to ride this out a bit and see what happens. I got in at around $3.95 per share so hopefully I can get somewhere near there again but I dunno. -sigh-

at least I still have my Draft Kings stock from its original valuation. I’m using that to make myself feel better this morning.
 
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Wingz

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WKHS dropped loke a rock when the contract got delayed again......my Jan 15th 22 dollar call is in danger.
 
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