The Official Stock Market Thread

[pcptrade]

Originally Posted by jcardstore

If I may ask, what’s the point in owning 1 share of those other random companies when 99% of your holdings are 2 names?

Haha, good question. Those are stocks that I owned at some point and sold for a profit and might add them in the future if they hit my target price. For example, I purchased COIN at 45 and sold most of them in the 60-65 range. I might add it in the future if it drops below 40. I might add ABNB in the future if it drops to 80's, SNOW if it drops to 100-110, SPG if it drops to 80-90. Those are stocks that I have narrowed down as potential long candidates if they drop to my target area. It is more like a watch list. I am still 60% cash in my brokerage account which is in SNSXX. I will likely add VYM if it drops to 90-100 area.

[jcardstore]

Originally Posted by pcptrade

Haha, good question. Those are stocks that I owned at some point and sold for a profit and might add them in the future if they hit my target price. For example, I purchased COIN at 45 and sold most of them in the 60-65 range. I might add it in the future if it drops below 40. I might add ABNB in the future if it drops to 80's, SNOW if it drops to 100-110, SPG if it drops to 80-90. Those are stocks that I have narrowed down as potential long candidates if they drop to my target area. It is more like a watch list. I am still 60% cash in my brokerage account which is in SNSXX. I will likely add VYM if it drops to 90-100 area.

What are you getting paid on that? SPAXX in fidelity is paying 4.75% right now

[pcptrade]

Originally Posted by jcardstore

What are you getting paid on that? SPAXX in fidelity is paying 4.75% right now

4.4% right now

[pcptrade]

Originally Posted by pcptrade

NVDA drops 4% from the morning highs and the July 750 call value drops from 0.95 to 0.5 per contract. A nice intraday gain of ~45%. I bought to close (BTC) some of the July 750 calls that I sold for 0.90 in the morning for 0.50 just now.

July 750 call value drops another 40% today with NVDA down 2.5%. Nice 2K gain in 1 day

[ajlaxmn]

Originally Posted by pcptrade

July 750 call value drops another 40% today with NVDA down 2.5%. Nice 2K gain in 1 day

Just curious, if you are willing to elaborate, were these naked or covered?

[jcardstore]

Originally Posted by ajlaxmn

Just curious, if you are willing to elaborate, were these naked or covered?

STO calls I believe he said so it would be covered by his shares

[pcptrade]

Originally Posted by ajlaxmn

Just curious, if you are willing to elaborate, were these naked or covered?

Naked. I sold them (STO) when it was trading around 410 yesterday and bought them back (BTC) yesterday and today for 50% overall gain. Still have 20 contracts that I might just hold on until they expire worthless. I rarely do options unless the risk is low and reward is high. In this case, NVDA was overbought and it was unlikely to make another 100% gain (1T to 2T market cap) by July 21st with no catalysts such as earnings and buyout/takeover (unlikely given its 1T market cap).

[jcardstore]

Originally Posted by pcptrade

Naked. I sold them (ST) when it was trading around 410 and bought them back (BTC) yesterday and today for 50% overall gain. Still have 20 contracts that I might just hold on until they expire worthless. I rarely do options unless the risk is low and reward is high.

You sold calls naked? You have it covered with margin or what?

I’m not even allowed to sell to open naked on my broker

[pcptrade]

Originally Posted by jcardstore

You sold calls naked? You have it covered with margin or what?

I’m not even allowed to sell to open naked on my broker

I am allowed to do it given the free cash in my account.

[jcardstore]

Originally Posted by pcptrade

I am allowed to do it given the free cash in my account.

Interesting. I always assumed you needed margin. Then it isn’t truly naked then I guess

[pcptrade]

Originally Posted by jcardstore

Interesting. I always assumed you needed margin. Then it isn’t truly naked then I guess

I have been doing options on and off for almost 12 years now and I rarely do naked calls. This is the 2nd time in the past 12 years that I have done it. I am not a big fan of options to be honest. You lose more than what you gain if you are not disciplined. Don't want others to think that options are a quick way to make nice profits. They are very risky. It is better to go long stocks/ETF/Index Mutual funds during market crash/correction and forget about it. There is less headache and stress with that approach

[jcardstore]

Originally Posted by pcptrade

I have been doing options on and off for almost 12 years now and I rarely do naked calls. This is the 2nd time in the past 12 years that I have done it. I am not a big fan of options to be honest. You lose more than what you gain if you are not disciplined. It is better to go long stocks/ETF/Index Mutual funds during market crash/correction and forget about it. There is less headache and stress with that approach

I’ve been selling for a long time for some small passive income. I always just sell against my shares or cash secured puts.

I also have just over 50% of my account in cash but if I can sell naked without margin I may look at it. Cause then you’re basically just double dipping on your cash. Getting the 4.75% then whatever you can make on the calls

[pcptrade]

Originally Posted by jcardstore

I’ve been selling for a long time for some small passive income. I always just sell against my shares or cash secured puts.

I also have just over 50% of my account in cash but if I can sell naked without margin I may look at it. Cause then you’re basically just double dipping on your cash. Getting the 4.75% then whatever you can make on the calls

I also sell covered calls (way OTM) sometimes on the stocks that I am long around earnings especially if the stock is overbought and the IV is high. I did it on AMZN and GOOG during their earnings in Feb. People were gambling on AMZN 200 calls at that time (with one day to expire) after seeing the jump in META stock.

[finfangfan]

SOFI having a nice day so far.

[finfangfan]

Went deep into my watch list and bought back into INMD at $31.70. I was trading this stock between $30-$40 a few years ago and it’s kind of funny it’s within same range years later. Likely won’t stay in too long.

[finfangfan]

I missed the top when I sold off my AI position yesterday but this is crashing after hours… down 20%. This on top of a deep red day today. Glad I cashed out… might revisit in a few weeks.

[KhalDrogo]

Took a 30% profit on my NVDA puts. Probably should have pushed it. Oh well. Entered AAPL Nov 150 puts to add to my Sept 165 puts that I’m down on. I refuse to believe that this slow grind continues indefinitely. Big tech needs a sell off.

[Vintagecollect]

Originally Posted by KhalDrogo

Took a 30% profit on my NVDA puts. Probably should have pushed it. Oh well. Entered AAPL Nov 150 puts to add to my Sept 165 puts that I’m down on. I refuse to believe that this slow grind continues indefinitely. Big tech needs a sell off.

Agree, and commodities awaiting the rotation!

Sent from my SM-S918U using Tapatalk

[finfangfan]

Apple will announce its new VR headset on Monday. It’s first new product line since the watch in 2014.

https://www.cnbc.com/2023/06/01/why-...ess-story.html

It will be interesting if it is successful. VR seems to never completely take off no matter who does it but Apple could make things interesting.

”But many people in the industry believe Apple’s announcement will energize consumers and software developers and bring the technology closer to its ultimate promise: a headset you wear daily, as you go about your business, or perhaps a pair of lightweight glasses, helping you with contextual information.”

[KhalDrogo]

TSLA has been a trader’s dream this year.

[Jed Clampett]

Originally Posted by KhalDrogo

TSLA has been a trader’s dream this year.

This will continue. I’ve owned it since 2015 along with the car lol.
Took some BiG loss on it in 2022 but bought more beginning 2023 at $107
I see $300 plus end of the year
��

[xbignick]

......

[xbignick]

Thanks for reaching out to them, jlzinck.

[finfangfan]

Apparently trading of UNITY SOFTWARE INC COM halted after partnership announcement with AAPL. I had it on my watchlist too but chose INMD instead… oops!

[finfangfan]

I got in at $34.40. I want to say U was someone’s 2022 stock pick.