OT Gamestop: Wall Street + Animal House?

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EL PRESIDENTE said:
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haha that was great. I loved those guys back in the day.

Kind of rough day also, but its a more normal down day. Been up for a few days straight, thought about taking profits but balked and now others beat me too it. My semiconductor play might be breaking out a little finally. Disney has been a little frustrating for me.
 
Cathie Woods new price target on Tesla is out, $3k by 2025. I didnt think her last one would be possible but here we are so Ill believe her this time.

Anyone doing anything interesting? Ive mostly took a week off to let things shake out. I did have a limit order sell on ABNB hit last week at $215 and I dropped half my AMC at $14. Rolled that into RBLX, TTWO and SNOW. There are rumors that Grand Theft Auto 6 will be announced later this month and even if its not TTWO is a great company on a big dip. I just wanted SNOW and RBLX and felt that they were good prices.

The sell off hurt my gamble fund a lot. I had a bunch of calls expire last friday that I both screwed up on and got unlucky on. Learned some lessons the hard way about taking profits and not getting too excited. Ill learn those lessons again someday though so dont worry. I did go in big on INTC calls at $70 for July a few weeks ago and those held up pretty good so Im feeling pretty good about their potential.
 
donkiez said:
Cathie Woods new price target on Tesla is out, $3k by 2025. I didnt think her last one would be possible but here we are so Ill believe her this time.

Anyone doing anything interesting? Ive mostly took a week off to let things shake out. I did have a limit order sell on ABNB hit last week at $215 and I dropped half my AMC at $14. Rolled that into RBLX, TTWO and SNOW. There are rumors that Grand Theft Auto 6 will be announced later this month and even if its not TTWO is a great company on a big dip. I just wanted SNOW and RBLX and felt that they were good prices.

The sell off hurt my gamble fund a lot. I had a bunch of calls expire last friday that I both screwed up on and got unlucky on. Learned some lessons the hard way about taking profits and not getting too excited. Ill learn those lessons again someday though so dont worry. I did go in big on INTC calls at $70 for July a few weeks ago and those held up pretty good so Im feeling pretty good about their potential.
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I'm not doing much right now. Lots of discussion online have been taken down. I'm not really excited about anything right now, there's a real negative feeling for the market right now.

May get some Tesla if it dips, other than that, I'm going to be just buying dips on reopening stocks.
 
SlyPokerCat said:
I'm kinda thinking of moving to oil stocks. I'm considering OXY.
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What's your thoughts with OXY and oil in general? I always get kind of skidish with oil cause there are so many external and political factors affecting it even with reopening buzz.
 
EL PRESIDENTE said:
I'm not doing much right now. Lots of discussion online have been taken down. I'm not really excited about anything right now, there's a real negative feeling for the market right now.

May get some Tesla if it dips, other than that, I'm going to be just buying dips on reopening stocks.
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I'm kind of feeling like the tech slide is worth buying into again. I'm still hitting up the secondary reopening stocks but most of the primary ones are starting to feel a little overplayed.
 
donkiez said:
What's your thoughts with OXY and oil in general? I always get kind of skidish with oil cause there are so many external and political factors affecting it even with reopening buzz.
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I think it will eventually bounce back. Someone was talking to me about it the other day that most if these oil companies used to have huge dividends. If they reinstate those at some point that will be big. With increased oil costs too, these companies should have some good earnings in the next year.
 
SlyPokerCat said:
I think it will eventually bounce back. Someone was talking to me about it the other day that most if these oil companies used to have huge dividends. If they reinstate those at some point that will be big. With increased oil costs too, these companies should have some good earnings in the next year.
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Selling more puts then?

I did a little reading on them and they seemed positioned well in the permian basin. Under Biden thats the place to be since its all private land there and stupid amounts of oil. Biden limiting new drilling on public land helps all the private land owners quite a bit. So it is interesting.
 
donkiez said:
Selling more puts then?

I did a little reading on them and they seemed positioned well in the permian basin. Under Biden thats the place to be since its all private land there and stupid amounts of oil. Biden limiting new drilling on public land helps all the private land owners quite a bit. So it is interesting.
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Probably. If I do they will be close to the stock price so I get higher premium. Once i get stock I will start selling calls on them.
 
SlyPokerCat said:
Probably. If I do they will be close to the stock price so I get higher premium. Once i get stock I will start selling calls on them.
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Do you prefer high or low volatile stocks with this strategy? Or does it matter?
 
donkiez said:
Do you prefer high or low volatile stocks with this strategy? Or does it matter?
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It depends. I like good premiums so i've been riding GME (until it went past $20) and then AMC. But if it is something I believe in like Oxy, i want decent premiums but won't mind if I end up with the stock. So for Oxy I might go with selling a put at $27 close to what the stock is. Right now with AMC I don't want to own the stock so the closest I would get is $9 or $9.5 strike.
 
SlyPokerCat said:
It depends. I like good premiums so i've been riding GME (until it went past $20) and then AMC. But if it is something I believe in like Oxy, i want decent premiums but won't mind if I end up with the stock. So for Oxy I might go with selling a put at $27 close to what the stock is. Right now with AMC I don't want to own the stock so the closest I would get is $9 or $9.5 strike.
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I'm considering giving the strategy more of a shot. Awhile ago I sold a PLTR put and made $300 but it tied up cost of 100 shares for over 30 days so I got a little bored with it.

What kind of timeline do you pick for your selling on the put? Do you wait for it to expire or do you close them out when the premium is basically zero?

Seems like it's a pretty reliable strategy for creating a regular cash flow. What's the worst case scenario?
 
Worst case scenario is the stock tanks. Sometimes i get scared and buy it back at a loss. Usually when that happens i should have just held.

I usually sell my puts on monday morning. Just depends how i feel. I've bought back my puts and banked money at times. Sometimes i buy them back for $1 each on Thursday or Friday. And i'll either sell more puts with a strike price closer to the actual stock price if i feel good like it won't tank and can bank an extra $25-50 for the day than if I just let it expire. Sometimes I buy back on Friday and sell for the next week so I get all that decay over the weekend.
 
donkiez said:
I'm kind of feeling like the tech slide is worth buying into again. I'm still hitting up the secondary reopening stocks but most of the primary ones are starting to feel a little overplayed.
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Tech stocks are always a good buy in the long run.
 
Gamestop earnings today, could be interesting. Is anyone still holding?
 
Your big in green energy right? Those got hit the hardest I think. I'm up and down across the board for the last week, probably about even. Catching that abnb limit sell at 215 and then dumping a bunch of AMC really helped tho. I had to stop trading abnb because I was overweighted there and worried about wash rules killing my profits too much.

If gamestop has some surprise in store for today it could be a big day. I'm not in gme but if I was Id wait till after earnings just in case.
 
donkiez said:
Your big in green energy right? Those got hit the hardest I think. I'm up and down across the board for the last week, probably about even. Catching that abnb limit sell at 215 and then dumping a bunch of AMC really helped tho. I had to stop trading abnb because I was overweighted there and worried about wash rules killing my profits too much.

If gamestop has some surprise in store for today it could be a big day. I'm not in gme but if I was Id wait till after earnings just in case.
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I was but I exited that position a while back. I have some $FCEL and some $FSR still.

I'm taking it hard on $AMC (-15%) and some assorted meme stocks.
 
Yeah, i didn't jump into the market today. Amc was too shaky and i wanted to see what oxy would do. I might jump in tomorrow. I wouldn't mind owning oxy at 25.
 
Intel poping after hours on news of two new factories planned for Arizona.
 
All my stocks are in the shitter. I have like 16k in there right now and I don't want to take any losses and I don't need the money right now so I'm trying to wait until some come back up for life.

I had a chance to pull out of Sundial a week ago and be $100 up and I didn't do it. Now I''m like 200 down. BARF.
 
I bought more $Zom, it has been falling, but get my average cost down. Who knows, i think they released their Truforma early, hopefully it picks up.
 
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