Investing General Discussion

Sanrith Descartes · Dec 9, 2020

Locnar said:
AVGO earnings real soon and I'm buying into my friends strategy that is super semi conductor heavy, he has been making a killing. But either way I MUST do some massive selling off in January, I'm carrying too much margin. So if my covered calls get triggered, fine I have to sell off anyways. If they don't, fine I got some premium then must sell off myself. Sound strategy?

Don't take this the wrong way, please. I say it in the spirit of trying to help. Here is what I have gathered and correct me if I am wrong anywhere.
You currently have a limited skillset trading.
You are trading on a margin account.
You are beginning to explore options trading.
You are using someone else's "strategy".

My advice is you really need to step back and take a breath. If you have done well this year, God bless you. I think you need to take a few steps back and do some real learning into trading (both financial fundamentals and the actual mechanics of trading) and stop doing it on margin until you are really comfortable. If I am wrong then I apologize. You need some understanding and a solid plan of what you want to accomplish and how to do so that minimizes risk while maximizing return over whatever time frame you have chosen.

Fogel · Dec 9, 2020

Margin is risky stuff, they'll make out eventually otherwise they wouldn't offer it.

Locnar · Dec 9, 2020

I agree, which is why I am trying to set myself up for a big sell off in Jan either way. I have this dead space right now (dec) where I really can't afford to dump stock unless its a obvious up/down meme stock. I thought selling covered calls for Jan on stocks im committed to hold until jan and sell in jan anyways was the way.

Sanrith Descartes · Dec 9, 2020

Fogel said:
So I did some research yesterday and decided to buy 100 shares each of IPV and BFT on top of the BTWN that Sanrith Descartes brought up. Some may say its RH or WSB like trading, but I liked what they were doing and if they repeat MP, LAZR, VLDR etc then set a trailing stop loss on the first spike and sit back. Hows the saying go, 500k frenchmen can't be wrong? Just don't be the one holding the bag at the end

I make money on SPACs because I do a ton of research into the underlying founders, the SPAC details and the merger target. There is a fuckton of shitty SPACs and private companies out there. I also only invest in spaces I like. SPACs follow a trading route in terms of price flow. Be patient and wait for shares to drop into the sub $11 range. People get bored when they dont move up and dump shares looking for new adventures. The only SPAC I paid more than $11 for was MP and that was $12.50 and I actually regretting paying that much for it afterwards. It is all about patience and pricing. I haven't bought either BTWN or BFT yet because I am waiting for the prices to settle down under $11. BTWN hit 10.85 yesterday and my order was for 10.75.

So be careful and do your due diligence.

Sanrith Descartes · Dec 9, 2020

Locnar said:
I agree, which is why I am trying to set myself up for a big sell off in Jan either way. I have this dead space right now (dec) where I really can't afford to dump stock unless its a obvious up/down meme stock. I thought selling covered calls for Jan on stocks im committed to hold until jan and sell in jan anyways was the way.

It may very well be. Just understand exactly what covered calls are and use some sort of technical tools like the ones Fidelity offers to make the best decision for you in terms of Risk/reward for each play.

Sanrith Descartes · Dec 9, 2020

LAZR just cracked the -10% level

Sanrith Descartes · Dec 9, 2020

Correction: Analyst Actions: JP Morgan Adjusts Tesla's Price Target to $90 from $80, Keeps Underweight Rating

Locnar · Dec 9, 2020

Sanrith Descartes said:
It may very well be. Just understand exactly what covered calls are and use some sort of technical tools like the ones Fidelity offers to make the best decision for you in terms of Risk/reward for each play.

I think I do. Someone already bought my covered call of phizer and intel, I set them both to be higher then current ask and last. I remember what you (mabye blazin) said awhile back "would you be happy selling this stock at that strike at that date". For the ones i've set orders on, the answer is yes. And i jacked the premium up on all of the order to be above current ask/last. Its all in fates hands now!

TJT · Dec 9, 2020

Doordash is going to IPO at $150.

Ima steer clear of that one. fucking lol.

Locnar · Dec 9, 2020

TJT said:
Doordash is going to IPO at $150.

Ima steer clear of that one. fucking lol.

Im looking at another one called "AI" that is ipoing today. Supposed to be around 42 and is giving me a PLTR vibe.

edit: now its up to the 70s, jezus.

TJT · Dec 9, 2020

Sanrith Descartes · Dec 9, 2020

Locnar said:
I think I do. Someone already bought my covered call of phizer and intel, I set them both to be higher then current ask and last. I remember what you (mabye blazin) said awhile back "would you be happy selling this stock at that strike at that date". For the ones i've set orders on, the answer is yes. And i jacked the premium up on all of the order to be above current ask/last. Its all in fates hands now!

You can use the delta to help determine the option price movement. The delta should correlate to a $1 swing in the underlying stock price. So since the delta on the $490 option in Jan 15 is 0.0856 for every dollar AVGO moves up the option price should move up about 8.5 cents. For every $1 it goes down, the option price should drop by 8.5 cents. Nothing is set in stone but this is a good gauge.

Sanrith Descartes · Dec 9, 2020

IPOs are "mostly" for suckers. Unless the banks severely fuck up the valuation like they did with FB back in the day.

Jackie Treehorn · Dec 9, 2020

DYMD and HCAC today! I bought shares of of DYMD at 11.33 and HCAC at 18.05 earlier this week.

Sanrith Descartes · Dec 9, 2020

Sanrith Descartes said:
LAZR just cracked the -10% level

-12%
"Attention. Will the bag holders please move to the back of the room so everyone else can have an unobstructed path to the exits, please? Thank you for your cooperation ".

LAZR -15%
PLTR -9%
QQQ - 1.8%

I am sensing a disturbance in the force.

Jysin · Dec 9, 2020

Anyone see GLSI today? Insane moves. Huge catalyst claiming breast cancer treatment with 0% reoccurrence over 5 years in trials.

Shot from $12.15 up to $47.67 so far. Many volatility halts up and down.

*EDIT* Halted up again at $52.35
*EDIT2* Halt up again $61.36

Greenwich LifeSciences triples in value as breast cancer therapy shines in mid-stage trial (NASDAQ:GLSI)

The clinical-stage micro-cap Greenwich LifeSciences (NASDAQ:NASDAQ:GLSI) rises +213.15% in above average volume as its experimental immunotherapy, GP2, to...

seekingalpha.com

Sanrith Descartes · Dec 9, 2020

Jysin said:
Anyone see GLSI today? Insane moves. Huge catalyst claiming breast cancer treatment with 0% reoccurrence over 5 years in trials.

Shot from $12.15 up to $47.67 so far. Many volatility halts up and down.

Greenwich LifeSciences triples in value as breast cancer therapy shines in mid-stage trial (NASDAQ:GLSI)

The clinical-stage micro-cap Greenwich LifeSciences (NASDAQ:NASDAQ:GLSI) rises +213.15% in above average volume as its experimental immunotherapy, GP2, to...

seekingalpha.com

I dont care about the stock, I just hope the claim is true.

Sanrith Descartes · Dec 9, 2020

The trailing orders I set a couple of days ago on QQQ just popped. Either Im right and we are moving downward a bit or im wrong and im sitting on a big pile of cash.

edit:

Blazin thanks for posting that analysis you did a few days ago. It was the trigger to me diving deeper.

Jysin · Dec 9, 2020

Jesus christ. SGLI halt up again. Now $79.31. I sat like a deer in the headlights watching this move from the break of $28.50 earlier.

Holy smokes. Someone is being made crazy rich today.

Sanrith Descartes · Dec 9, 2020

Jysin said:
Jesus christ. SGLI halt up again. Now $79.31. I sat like a deer in the headlights watching this move from the break of $28.50 earlier.

Holy smokes. Someone is being made crazy rich today.

If they truly had a break through to cure cancer, you can add a few zeroes to that stock price.

Investing General Discussion

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Correction: Analyst Actions: JP Morgan Adjusts Tesla's Price Target to $90 from $80, Keeps Underweight Rating​

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Correction: Analyst Actions: JP Morgan Adjusts Tesla's Price Target to $90 from $80, Keeps Underweight Rating