High Roller Casino
Stern, 2001I bought some call contracts early this morning on a number of $220 OTM calls for $CAT (Caterpillar) when it was trading around $216. I inadvertently sent the order twice (entered via mobile), and both executed. Very pleased with my mistake!
Quoted from Anubis330:I love to exercise and I think volunteer work would be rewarding, just not financially. Lol
Get some non-pinball forum professional advice (accountant, financial planner, etc..) before you quit your job to spend the next 45 years of your life exercising and volunteering.
Quoted from Anubis330:I'm not the most stock savvy fella so I'm curious to what you think. In my industry the lack of employees has been a concern for the last 10-15yrs. It has gotten to the point where I can offer good wages, 10k in bonuses, $500 clothing allowance, health care, profit sharing (last year was %15) and a newly remodeled 2 bedroom apt rent and utility free and still no one to hire. Thus, I'm thinking about cashing out. I can put 6mil in the bank after taxes. I'm 45 and my house is paid for, I have zero debt and live in Ohio which is inexpensive compared to most of the country. What are your thoughts . Fyi, If I walk away I would prefer not to work any longer. What are your thoughts???
Just don't take up poker as a hobby lol.
Quoted from BMore-Pinball:Get some non-pinball forum professional advice (accountant, financial planner, etc..) before you quit your job to spend the next 45 years of your life exercising and volunteering.
I did that a few days ago. My cousin is a hedge fund manager and I called the person he picked to manage my uncle's money. I still need to talk to my cousin though.
UPST up nicely today
GRN still steadily gaining in the face of many tanking
MAC the unloved holdings company just hanging in there paying 3.5%
LVS waiting for a rebound at the trough
I don't day trade. Generally passive buy and hold here only in companies I can wrap my head around.
Quoted from Anubis330:I'm not the most stock savvy fella so I'm curious to what you think. In my industry the lack of employees has been a concern for the last 10-15yrs. It has gotten to the point where I can offer good wages, 10k in bonuses, $500 clothing allowance, health care, profit sharing (last year was %15) and a newly remodeled 2 bedroom apt rent and utility free and still no one to hire. Thus, I'm thinking about cashing out. I can put 6mil in the bank after taxes. I'm 45 and my house is paid for, I have zero debt and live in Ohio which is inexpensive compared to most of the country. What are your thoughts . Fyi, If I walk away I would prefer not to work any longer. What are your thoughts???
At 45, I would have clocked out with $3M, which I did not have then. If I were you, I'd sell the paid-4 house and take some of the excess and buy a nice place with a view unless you are very happy in Ohio.
I know I will not miss the snow, ice and severe storm threats ever again. 100,000 are without power after a rash of storms, including my old house, where I used to live in the Detroit area. Screw that.
Quoted from MrBally:At 45, I would have clocked out with $3M, which I did not have then. If I were you, I'd sell the paid-4 house and take some of the excess and buy a nice place with a view unless you are very happy in Ohio.
I know I will not miss the snow, ice and severe storm threats ever again. 100,000 are without power after a rash of storms, including my old house, where I used to live in the Detroit area. Screw that.
I totally agree...the whole idea is to get the hell out of the rat race to have the time to burn through that money...I'm slowly learning there is no magic number, the goal post is forever moving....I'll never be at ease with it, sometimes you just have to override your brain.
PS: reminds of a short story I read as a student by Leo Tolstoy it's called "How much land does a man need" look it up it's a good short read.
C
Quoted from Anubis330:I'm not the most stock savvy fella so I'm curious to what you think. In my industry the lack of employees has been a concern for the last 10-15yrs. It has gotten to the point where I can offer good wages, 10k in bonuses, $500 clothing allowance, health care, profit sharing (last year was %15) and a newly remodeled 2 bedroom apt rent and utility free and still no one to hire. Thus, I'm thinking about cashing out. I can put 6mil in the bank after taxes. I'm 45 and my house is paid for, I have zero debt and live in Ohio which is inexpensive compared to most of the country. What are your thoughts . Fyi, If I walk away I would prefer not to work any longer. What are your thoughts???
U have kids? I am in similar circumstances but with young children living in California I will be working for the man (which is me) for the foreseeable future.
We sold one of our family businesses in 2018 and it was the best thing we ever did for our family.
But if we sold the other, even with the kind of sale price we could receive, I am concerned about being financial stable long term and taking care of my children. I think living in California has a lot to do with my concern.
Please keep us updated. I am interested in what decision you make and how it turns out.
I have mad props for anyone that pulls the plug. Everyone I know just bitches about it and does nothing.
Quoted from jorge5240:C
U have kids? I am in similar circumstances but with young children living in California I will be working for the man (which is me) for the foreseeable future.
We sold one of our family businesses in 2018 and it was the best thing we ever did for our family.
But if we sold the other, even with the kind of sale price we could receive, I am concerned about being financial stable long term and taking care of my children. I think living in California has a lot to do with my concern.
Please keep us updated. I am interested in what decision you make and how it turns out.
I have mad props for anyone that pulls the plug. Everyone I know just bitches about it and does nothing.
To clarify without kids I am living in Fiji right now! 
Quoted from jorge5240:To clarify without kids I am living in Fiji right now!
I don't have any kids and the Fiji idea doesn't sound to shabby.
Quoted from MrBally:At 45, I would have clocked out with $3M, which I did not have then. If I were you, I'd sell the paid-4 house and take some of the excess and buy a nice place with a view unless you are very happy in Ohio.
I know I will not miss the snow, ice and severe storm threats ever again. 100,000 are without power after a rash of storms, including my old house, where I used to live in the Detroit area. Screw that.
Edit: Now 700,000 are without power in SE Michigan. No more of that for me....
I took a small gamble with DIS today...I needed to put this co in my portfolio so I figured if it takes hit with earnings today due to Delta I'll average down later. There are signs pointing to Delta variant peaking.
Quoted from kvan99:I took a small gamble with DIS today...I needed to put this co in my portfolio so I figured if it takes hit with earnings today due to Delta I'll average down later. There are signs pointing to Delta variant peaking.
I just saw the good DIS earnings, your gamble might pay off for a nice bump! Oddly, this year has been counterintuitive when it comes to good earnings and stock performance.
Quoted from taz:I just saw the good DIS earnings, your gamble might pay off for a nice bump! Oddly, this year has been counterintuitive when it comes to good earnings and stock performance.
That's exactly what I was thinking....but I figured the bulk of the earnings data was before the Delta debacle so I took a leap of faith. It wasn't really a sound decision but it did pay off this time.
Wish took a massive 20 percent dump on earnings, hopefully whoever mentioned the stock last didn't ride it all the way down. This sector is generally taking a bath on earnings leading to a fire sale.
Plunge Protection is no longer a myth.
Everyday the Market is bid up to just enough to claim a new record.
Looks like manipulation and its evident.
Control might be comforting to some Folks.
It means no natural corrections, which is where people who sold high can re-enter.
Simply a dab higher everyday. I guess this is another example of the new normal.
Look at the Charts, especially end of day (last 2 hours).
Help/guidance requested on non-standard trades.
Okay, until now I have always been a pretty simple stock trader. I have bought and sold stocks, colelcted dividends, never traded option, and never traded on margin (still won't).
I am currently holding on to about 2,000 shares of Lucid worth about $24 per share in 2 separate accounts with about 1000 shares in each account. This is the "risky" play and the majority of everything else I have is in sensible mutual funds so I'm not about to lose it all.
Scenario A: Yesterday, I got an email from my broker offering to pay me 20% interest for the privilege of lending out my Lucid shares in one account. This would work out to about an extra $400 per month. I would still own the shares, but own voting rights and be taxed weirdly if there is a dividend (there never has been on this stock). I can still sell it at any time, but cannot use it on margin and/or in options trading. Other than the ever so slight downward pressure on the stock this would imply, I see no downside to an extra $4800 per year on a stock I plan on holding on to anyways.
Scenario B:This idea got me researching options a little bit. I don't want to bet the farm, but in my other account I did my first options trade. The stock is at $24 per share currently. I sold 10 covered calls at a strike price of $26 per share for a total of about $200 for 8/20. As I understand it, I am getting $200 today for selling the right to someone to buy my shares at $26 per share up until the close of business on 8/20, at which time these would expire worthless if the price is under $26 per year. If the price is over $26 per share on 8/20, I will automatically sell my 1,000 shares to cover this, in which case I would still be making money, just not as much as if I was holding it and it went to $27 per share. Worst case scenerio I am forced to sell at more than I paid for today and buy back in at a higher rate if I wish to stay in the stock. Doing this on a weekly basis and never having your options called would imply an extra ~$10,000 per year in income.
So... for my ~$48,000 in stock I can make an extra ~$15,000 in income without the price of the stock rising?
What am I missing here? Why are either of these options bad strategies. How are they risky and is there something here that can bankrupt me I am not tracking?
I don't know anything about Scenario A, but Scenario B you pretty much have down. The downside is if the stock runs up beyond 26/share, you're obligated to sell them for 26/share (plus the premium you've collected). So if it runs up to 35/share, then obviously you're missing out on that extra 9/share profit.
You can actively manage those options though, too. If there's an event or if you see something on the chart that makes you think it's going to run, you can buy back the option you had sold previously, be it for more or less money. The thing you have on your side is Theta, so for each day that passes (all else constant), the option loses value, which is great for the guy selling them (you).
There's another strategy to round this out, too. If you are obligated to sell the shares, you can then sell cash secured puts. So let's say you sold your shares at 26. They're gone, but you have some profit. Now you can go right back into the options table and sell puts - let's say back at your original basis of 24/share. If the price stays above 24/share, you're collecting that premium. If it falls below, you'll have the shares 'put' to you, and you'll be obligated to pay 24/share.
It can work out well because you're either collecting the premium, OR you're taking in the shares at a price you've selected and are comfortable with.
Some of you asked where do I invest to get ahead of the curve...well, with Delta all the reopening stocks have taken a hit, so airlines, casinos, cruise are all down...look at LVS and MGM, in the airline sector UA and Delta have large international presence. I also think BABA is a good bet if you're willing to hold for a while. Here's a good take on its financials:
Quoted from Deaconblooze:I don't know anything about Scenario A, but Scenario B you pretty much have down. The downside is if the stock runs up beyond 26/share, you're obligated to sell them for 26/share (plus the premium you've collected). So if it runs up to 35/share, then obviously you're missing out on that extra 9/share profit.
You can actively manage those options though, too. If there's an event or if you see something on the chart that makes you think it's going to run, you can buy back the option you had sold previously, be it for more or less money. The thing you have on your side is Theta, so for each day that passes (all else constant), the option loses value, which is great for the guy selling them (you).
There's another strategy to round this out, too. If you are obligated to sell the shares, you can then sell cash secured puts. So let's say you sold your shares at 26. They're gone, but you have some profit. Now you can go right back into the options table and sell puts - let's say back at your original basis of 24/share. If the price stays above 24/share, you're collecting that premium. If it falls below, you'll have the shares 'put' to you, and you'll be obligated to pay 24/share.
It can work out well because you're either collecting the premium, OR you're taking in the shares at a price you've selected and are comfortable with.
Awesome. I went ahead and signed up to lend out my shares, sold 10 covered calls so I'm forced to sell LCID at $26 if it hits it before next friday ($23.71 today) and sold one cash covered put so I'm forced to buy 100 shares at $22.50 if it drops below that. $250 extra in a week to make moves I'd already like to make. Trying to dip my toes into it here.
Quoted from SantaEatsCheese:Help/guidance requested on non-standard trades.
Okay, until now I have always been a pretty simple stock trader. I have bought and sold stocks, colelcted dividends, never traded option, and never traded on margin (still won't).
I am currently holding on to about 2,000 shares of Lucid worth about $24 per share in 2 separate accounts with about 1000 shares in each account. This is the "risky" play and the majority of everything else I have is in sensible mutual funds so I'm not about to lose it all.
Scenario A: Yesterday, I got an email from my broker offering to pay me 20% interest for the privilege of lending out my Lucid shares in one account. This would work out to about an extra $400 per month. I would still own the shares, but own voting rights and be taxed weirdly if there is a dividend (there never has been on this stock). I can still sell it at any time, but cannot use it on margin and/or in options trading. Other than the ever so slight downward pressure on the stock this would imply, I see no downside to an extra $4800 per year on a stock I plan on holding on to anyways.
Scenario B:This idea got me researching options a little bit. I don't want to bet the farm, but in my other account I did my first options trade. The stock is at $24 per share currently. I sold 10 covered calls at a strike price of $26 per share for a total of about $200 for 8/20. As I understand it, I am getting $200 today for selling the right to someone to buy my shares at $26 per share up until the close of business on 8/20, at which time these would expire worthless if the price is under $26 per year. If the price is over $26 per share on 8/20, I will automatically sell my 1,000 shares to cover this, in which case I would still be making money, just not as much as if I was holding it and it went to $27 per share. Worst case scenerio I am forced to sell at more than I paid for today and buy back in at a higher rate if I wish to stay in the stock. Doing this on a weekly basis and never having your options called would imply an extra ~$10,000 per year in income.
So... for my ~$48,000 in stock I can make an extra ~$15,000 in income without the price of the stock rising?
What am I missing here? Why are either of these options bad strategies. How are they risky and is there something here that can bankrupt me I am not tracking?
For Scenario A, if the shares go up to $30, are you able to sell the shares for $30 or is the broker only offering you $24 a share maximum for the 20%? If you still have the upside potential and a free 20%, seems like a great deal. You could likely make more than 20% writing calls on the shares but your upside would be maxed out, unlike the situation with the broker if there is no price cap in the deal.
For example, with the shares trading today for about $23.55, if you wrote the Feb 18, 2022 $24 calls, you could receive today approximately $4.15 per share or 17.62% for six months. This is better than the deal offered by the broker for 10% in six months. But with the options, your price cap is $24 per share.
Quoted from SantaEatsCheese:Help/guidance requested on non-standard trades.
Okay, until now I have always been a pretty simple stock trader. I have bought and sold stocks, colelcted dividends, never traded option, and never traded on margin (still won't).
I am currently holding on to about 2,000 shares of Lucid worth about $24 per share in 2 separate accounts with about 1000 shares in each account. This is the "risky" play and the majority of everything else I have is in sensible mutual funds so I'm not about to lose it all.
Scenario A: Yesterday, I got an email from my broker offering to pay me 20% interest for the privilege of lending out my Lucid shares in one account. This would work out to about an extra $400 per month. I would still own the shares, but own voting rights and be taxed weirdly if there is a dividend (there never has been on this stock). I can still sell it at any time, but cannot use it on margin and/or in options trading. Other than the ever so slight downward pressure on the stock this would imply, I see no downside to an extra $4800 per year on a stock I plan on holding on to anyways.
Scenario B:This idea got me researching options a little bit. I don't want to bet the farm, but in my other account I did my first options trade. The stock is at $24 per share currently. I sold 10 covered calls at a strike price of $26 per share for a total of about $200 for 8/20. As I understand it, I am getting $200 today for selling the right to someone to buy my shares at $26 per share up until the close of business on 8/20, at which time these would expire worthless if the price is under $26 per year. If the price is over $26 per share on 8/20, I will automatically sell my 1,000 shares to cover this, in which case I would still be making money, just not as much as if I was holding it and it went to $27 per share. Worst case scenerio I am forced to sell at more than I paid for today and buy back in at a higher rate if I wish to stay in the stock. Doing this on a weekly basis and never having your options called would imply an extra ~$10,000 per year in income.
So... for my ~$48,000 in stock I can make an extra ~$15,000 in income without the price of the stock rising?
What am I missing here? Why are either of these options bad strategies. How are they risky and is there something here that can bankrupt me I am not tracking?
Under Scenario B, you can always buy back the options instead of giving up the shares as noted. Depending on the price of the shares on expiry, you can lose money on buying back the options but still make money on the overall trade based on the time premium associated with the initial call.
Quoted from pinballjah:For Scenario A, if the shares go up to $30, are you able to sell the shares for $30 or is the broker only offering you $24 a share maximum for the 20%? If you still have the upside potential and a free 20%, seems like a great deal. You could likely make more than 20% writing calls on the shares but your upside would be maxed out, unlike the situation with the broker if there is no price cap in the deal.
For example, with the shares trading today for about $23.55, if you wrote the Feb 18, 2022 $24 calls, you could receive today approximately $4.15 per share or 17.62% for six months. This is better than the deal offered by the broker for 10% in six months. But with the options, your price cap is $24 per share.
According to the paperwork I got, yes, I can sell it at any time for today's price.
Quoted from pinballjah:Under Scenario B, you can always buy back the options instead of giving up the shares as noted. Depending on the price of the shares on expiry, you can lose money on buying back the options but still make money on the overall trade based on the time premium associated with the initial call.
I'm a little confused on this one. If I sold a call option expiring next week and then closed it out early, wouldn't that by definition mark me a as a pattern day trader?
Quoted from pinballjah:Anyone in WISH? I initially got in at $22 around the IPO time and bought on the dip at around $9.50 to cost average down. Seems to be climbing steady for the last few weeks after hitting a low of $8ish.
That's probably me that initially got into WISH. Bought some more today in the $6.85 range. Been writing calls on it so slowly recovering my cash. Will take a lot longer now given today's activity.
Quoted from SantaEatsCheese:I'm a little confused on this one. If I sold a call option expiring next week and then closed it out early, wouldn't that by definition mark me a as a pattern day trader?
Only if you do it in the same day. Even if you do, you can make 3 day trades within a 5 day period before being hit as a PTD.
So if you sold an option today, and bought it back Monday, you're clear.
Quoted from pinballjah:That's probably me that initially got into WISH. Bought some more today in the $6.85 range. Been writing calls on it so slowly recovering my cash. Will take a lot longer now given today's activity.
Management doesn't seem the greatest, a lot of confusion in the earnings call, might go down further from here. Good luck.
Ha, finally the analysts speak about Vegas
https://www.cnbc.com/2021/08/13/stock-market-today-friday-the-13th-stocks-that-could-rebound.html
They should write an article about the USA blowing a cool trillion on Afghanistan only to realize freedom, our values weren't worth another trillz.
I think the market wont drop much based on the fall of kabul. Maybe 1-3% over the course a week or month. Thoughts? I don't see USA going back in to retake the country.
Quoted from Friengineer:They should write an article about the USA blowing a cool trillion on Afghanistan only to realize freedom, our values weren't worth another trillz.
I think the market wont drop much based on the fall of kabul. Maybe 1-3% over the course a week or month. Thoughts? I don't see USA going back in to retake the country.
I don’t think that, like news in general, has much to do with the market.
Here is one persons view to share -
I subscribe to Avi Gliburt’s service and he goes by Elliot Wave method. This past month has been saying hang tight to see how high SaP can get to 4450, but he expects a pullback of 200-300 points from the current levels or the 4450 range if it can get that high. He has been raising his yellow light resistance and last week had a floor of 4425-37 range. We almost kissed it this morning. If it breaks through there SaP could be headed even lower. If we get to this point he is looking at a drop as a buying opportunity as he expects year end at 4600ish SaP and higher as we go through 2022.
That’s Avi’s overview and he does make adjustments. I like his charting so far, but we will see.
Quoted from pinnyheadhead:I don’t think that, like news in general, has much to do with the market.
Here is one persons view to share -
I subscribe to Avi Gliburt’s service and he goes by Elliot Wave method. This past month has been saying hang tight to see how high SaP can get to 4450, but he expects a pullback of 200-300 points from the current levels or the 4450 range if it can get that high. He has been raising his yellow light resistance and last week had a floor of 4425-37 range. We almost kissed it this morning. If it breaks through there SaP could be headed even lower. If we get to this point he is looking at a drop as a buying opportunity as he expects year end at 4600ish SaP and higher as we go through 2022.
That’s Avi’s overview and he does make adjustments. I like his charting so far, but we will see.
This is correct, the news out of China put a damper on things (China's growth slowing) and then we got the consumers confidence numbers that were bad on top of it. These are the first hazard flags, now the coming tapering will undoubtedly add to the weakness.
Quoted from TRAMD:Anybody else extra clean from the bath they're taking on POSH?
I got out of my position on Monday with a nice loss
I like the company, but was not willing to take the ride any longer.
Now that I am out, it should shoot up at least 50%
Quoted from BMore-Pinball:I got out of my position on Monday with a nice loss
I like the company, but was not willing to take the ride any longer.
Now that I am out, it should shoot up at least 50%
I appreciate that.
Thanks for the tip, bought 30 shares.
Some of these retailers that were open last year while others were forced to close are going to have a difficult time beating last years sales/store numbers
Yeah, taking a bath alright, across the board except for MRNA.. Boeing just can't seem to do anything right. It's just frustrating...every good news is drowned out by a bad one.
Quoted from TRAMD:Anybody else extra clean from the bath they're taking on POSH?
I've traded in and out of POSH so many times it's not even funny. It's great for swings. I bought it yesterday morning, sold in the afternoon, bought it again this morning, sold this afternoon. Usually 500-1000 shares at these levels.
Quoted from kvan99:Yeah, taking a bath alright, across the board except for MRNA.. Boeing just can't seem to do anything right. It's just frustrating...every good news is drowned out by a bad one.
I would rather be in LMT and NOC over BA
Both of those have done well for me for the last 10 years and at times where they trade sideways, you hold them and collect the dividend until it starts moving again
Quoted from BMore-Pinball:I would rather be in LMT and NOC over BA
Both of those have done well for me for the last 10 years and at times where they trade sideways, you hold them and collect the dividend until it starts moving again
I hear you...I’m seriously close to pulling the plug on it. I like LMT too, I need to out it on my watch list.
Do you guys ever sell a large chunk and sit on the sidelines? I think we are peaking and not sure where to go (if anywhere) should a sell some chunks
Quoted from thechakapakuni:Do you guys ever sell a large chunk and sit on the sidelines? I think we are peaking and not sure where to go (if anywhere) should a sell some chunks
Nope - unless you have some magic ball that times the market
I evaluate holdings and sometimes sell those with a good run that are now wildly overvalued or those that have dropped past my comfort level.
I never sit on the sidelines, the past few days I've been day trading meme stocks to some decent success.
Quoted from edward472:Lowes up 10%+ after solid earnings report today
Yep! Thanks again! I made my 10% and got out.
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