SNDL has been on fire, been on since early Jan since we knew dems were going in the whitehouse, worked out well so far

I got SNDL last month as well. Finally starting to pick up!

Been suggesting cannabis stocks for a while now
Here are my holdings

GRWG
TCNNF
GTBIF
JUSHF
CURLF
CRLBF
IIPR
HRVSF
CWBHF
OGI
TRSSF
CCHWF

Same here...just a small 1000 share position as I have no idea on this sector.

Still holding, and still up 100% from when I got in. So I’m staying the course.

Someone pointed out Chipotle was at $1500 yesterday and I’m reminded about when I bought in 2018 and about a month later they had the salmonella outbreak and it went down 50%. It didn’t recover for a long time and I eventually bailed. A good lesson about buy and hold.

Still holding amc. Hedges are manipulating the price...no volume and down 3 points pre market.

Vxrt on fire finally. First covid vaccine pill. Phase 1 results coming today or tomorrow. Good news brewing!

I sold out of all my AMC positions yesterday a couple hours before close. I had covered calls on everything and holding through the end of the week was risking several dollars per share on the shares to squeeze out the last 30 cents per share on the calls. Wasn't worth the risk. Overall made about $7500 trading it, but if I had never sold the calls and just ridden the shares up to 18-20, I would have made 6 figures.

Only other reddit position I traded was NOK, which I still have. Bought around $6, sold $10 calls and bought those back the next day for about $2/share gain. Sold $6 calls on them after that. Doubled share position at $5 and sold $5 calls on those. Overall it looks like I could sell out of everything this morning for about $1k total gains, or risk holding until Friday through earnings and end up somewhere between break even and $2k gain. I'll probably close out and move on.

It was fun while it lasted.

For core holdings, I doubled my XOM positions yesterday. Fundamentals are improving rapidly, earnings this morning, and it had dropped from $51->$45 in a week or so. 8% dividend payer.

Should have sold my WBA last week when they popped 10% on the new CEO news. It gave all that pop back already. Sold some puts on that yesterday that could potentially double my position there. I like where they are headed.

Said I liked and picked up AFRM at $102 and it's up to $108. Out of my PTON and DASH shorts. Both lost money on the shares, but both made enough selling weekly puts for a few weeks to make up for the loss and then some. Stressful trading that way.

If AMC gets down around $8 and the call premiums are $2+, I might give it another go. I didn't see it dropping this much in extended hours.

I'm waiting for $7. Can you explain a little about your call premiums target? How far out are you looking on the chain?

If you like decent call premiums, have a look at KODK and WISH. I have been writing calls on KODK for about six months now and doing quite well. On my third contract already.

Usually the same week or the next week. Depending on the difference in premiums, I might sell them right at the price I bought the shares, just hoping to make 100% gains on the options and nothing on the shares if I'm lucky. If each dollar higher on the calls is only like 10 cents less in premium, I might go out 2-4 dollars. In that case maybe I could make $4/share on the shares and $1.50/share on the calls if the stock went up $4.

I try to make it so worst case I don't lose. If the shares are $8 and the calls are $2, it would have to go under $6 to lose overall. And if it does, I usually hold the shares and sell more calls for the next week. I've been doing this strategy with longs + calls and shorts + puts for a few months now and haven't lost yet. At some point, a stock will stop going up or stop going down and I'll come out ahead I hope. I did this with shorting PTON for about 6 weeks. Overall I lost about $5000 on the short, but I collected about $6500 in premiums on the puts I was selling to protect the short.

I'll look at WISH. KODK scares me. It was worthless until that Trump tweet or whatever spiked it last year.

I really want to try POSH, but 3 weeks after the IPO there's still no options. It IPO'd the same day as WOOF and WOOF had options in under a week.

Smart money left GME last week and now left silver it seems?

Any way of finding out EARLY, where it is going next?

Really like this strategy. I am trying to keep to call spreads this year and try to make a few $k a month. Do you ever do call spread instead of buying the underlying shares? That way you protect your downside risk and a lot of the in the money calls have very little time premiums so basically the same as buying the underlying shares. I also am doing a lot of covered calls for some of my long holdings. Thanks.

looking for an entry point on POSH also

There actually are still considering nok on wsb.
https://www.reddit.com/r/wallstreetbets/comments/l6rmkl/we_need_to_talk_about_nok/

Wouldn't hurt my feelings...I'm in at a 1000 shares from last week.

AMC in the 8's...Edit: In the 7's

Meme stocks taking a beating early. AMC, GME, NOK, NAKD, BB way down

Im out of the meme stocks. Made 1k on amc. Bought and sold twice for profits. Lost $50 on NOK. Doubled my monies on MAC when it was at 20. I probably will buy MAC again soon if it keeps running lower. It has some solid metrics.

Tell me what is the appeal of cannabis stocks? Buy low, maybe hit big on one of them? Most have terrible metrics and the feds are not going to reschedule weed anytime soon.

Yep. I bought 1500 at 7.75 and sold 15 $8 calls for $2.25. Think they were next Friday expiration. So that puts the basis at $5.50 for break even. If it drops another dollar or two I'll double up.

Dumped all the NOK positions. They were in a SEP IRA I just started a couple years ago. Not much in it. Made $780 overall on that trade.

Nah. I haven't read enough to research all the different option strategies. Collars, spreads, straddles, etc. I know they exist, but don't know what they mean. I'm not sure my Vanguard account even supports them. I'll stick with simple strategies I know.

Do you have a book you recommend for learning puts and calls and options?

I’ve read this book, been a while but think it does a good job of explaining options.

https://www.amazon.com/Power-Curve-Investing-Dividends-Compounding/dp/0977801829/ref=nodl_

Maybe at this time there are YouTube videos that may be helpful. Anyone have a good video recommendations?

My advice is go slow not big until you learn the ropes. You will be caught is some losing positions and forced to buy 100 shares above market value or sell shares below the value.

Gains on option are taxed as short term gains so be prepared to pay something at tax time. (Unless you can do it in your tax shelter account). I find it easier in a margin account so I don’t need to keep reserve cash to cover my puts.

During the pandemic sell off I was forced to buy hundreds of thousands in stocks because it was such a sharp sell off. So if you can’t pay don’t play.

Some have said option selling can be like picking up dimes in front of a bulldozer. Meaning you can make seems like easy money but there is a looming danger.

I've never read a book solely devoted to options, but I've read about 20 investing and trading books and most at least dedicate a chapter or two to options.

For me:

If I want to own a stock a bit lower than it currently is, I sell a put at that level. If it gets there, it forces me to buy it, if not I collect the premiums.

If I want to own a stock now, I buy it and sell covered calls at a higher price if it's something I want to own for a while or at the current price if it's a quick trade.

If I want to short a stock, I short it and sell puts at the current price or a little lower. That protects me against the short going against me, but limits the gains to pretty much the premium of the put.

Thinking about buying a bunch of value dividend payers in my retirement accounts and selling calls on them all to get extra income that way.

What I never do is buy out of the money calls. Yes you can make a fortune on them if you're right, but you can easily lose it all too. It doesn't make sense to me to buy something that has to go up 20% in a year just to break even as the premium decays.

Well the MEME stocks cost me about 5k. Lesson learned. Many lessons learned.

Feeling raped on that nakd stock. I knew it was a gamble.

I am hoping blackberry keeps the freefall going so I can buy in cheap.

I have a friend that makes very good money buying and selling pot stocks on the up and down swings. Very swingy stocks that I guess he has figured out.

I am trying to figure out fubo, if they are likely to be a lot larger with a much more impressive breadth of content. They are relatively cheap, if they get some traction they could in theory be much higher. I assume pretty unlikely they ever get the major american sports as part of their package. Obviously soccer has a lot of appeal worldwide.

The old line used to be "Always take investment advice from those you meet at taverns, casinos and strip clubs".

Now we've listened to children on social media and have risked thousands of dollars.......

Same here. Now they have tanked i figure there is no sense selling. Might as well just hold it

Indeed, not buying on this dip.

The real question is this. Was it all a...sham...or was it squashed by the 'liquidity' issues that prevented the bulk of people from buying/selling? While yes, we knew people would be holding the bag in the end, there was definite interferences at many levels that were not due to 'bad plays'.

Mine were bad in..hindsight..because 1. I bought in way too late 2. right after I bought they decided to change the rules forcing the prices down.

And you notice, they STILL have not let up.

Maybe we should start an ETF with all the meme stocks?
Guess what the ticker would be.

I know what you want me to say..but I call YOLO.

As an example, instead of buy AMC, you could have bought the Feb 5 $5 call for $2.22 and sold the $6.50 call for $1.37. So your net cost is $0.85. As long as the shares are above $5.85 on Friday, you don't loss. If you buy the shares instead, you have a full $6.50 at risk (at the current price) vs $0.85. Your return is actually higher as well at $0.65/$0.85 or 76% for 3 days.

Keep in mind the people that made the real money on gme were buying shares over a year ago. Extremely tough to make quick money

If you like premiums, you can get $0.90 on EXPR for the $3 Feb 19 calls with the shares currently at $3.13, or 28.7% for a couple weeks. Although the stock is very risky.

Mark Cuban doing a AMA on Reddit.

I’m holding GME.

lol, of course I sell all my MEME stocks and they immediately start ticking back up. We'll see if it lasts

I think I can control the stock market. I buy, it goes down. I sell, it goes up.

Yah I figured it was something like that. I only have level 2 options approval on Vanguard, so I can't sell calls without owning the shares. I'm guessing if I applied for level 3 then I could do the spreads.

Lot of pressure trying to hold them. Unfortunately the lunch dip is about to happen, so I wouldn't be surprised to see them fall again.

Anyone here use Motley Fool Rule Breakers? Is it worth upgrading over the standard Stock Advisor?

Robinhood just increased their share limits, so the gang can buy again. Not sure it's enough to help.

Volume for sure has increased on GME...It's gone down a little for AMC.

Rumors that GME now on NYSE short sale restriction list... but I haven't seen anything confirmed. There's a halt on presumably an imbalance of buy orders. Interesting stuff.

Well, between AMC and GME I’m down about $2,700. I think it might be time to cut my losses and lick my wounds.

GME, AMC, and NOK were never a 50/50 proposition. I went in full knowing the odds were it would tank. But with the opportunity for it to go big was there as well.

I still think it was worth the shot.

GME halted...it wasn't moving that fast. Fn'g rigged.

I knew it was a long shot too. The decision now is weather I ride it into the ground or get out while I can still walk away with $2k.

It was halted twice on buy activity. There aren't enough sellers.