Zombie The Coronavirus Financial Thread (Personal, Local, National)

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donkiez said:
We canceled our trip, we were suppose to leave tomorrow. Knew that would probably happen when we booked it but figured it was worth a risk. No rebooking fee so we will probably try again in April or something.
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only 7 new cases on big island reported thursday and 5 yesterday.
Five New COVID Cases Confirmed on Big Island
By Big Island Now
January 29, 2021, 12:10 PM HST (Updated Jhttps://bigislandnow.com/2021/01/29/five-new-covid-cases-confirmed-on-big-island/anuary 29, 2021, 12:12 PM)
 
SlyPokerCat said:
Made money off options this week on AMC.

Not sure what I will do on Monday. Hoping for a dip before it takes off. We will see. Options appear to still be paying off like crazy for them.
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What kind of spreads have you been picking?
 
donkiez said:
What kind of spreads have you been picking?
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I'm an accountant so extremely risk averse. Just been doing covered puts with strike prices at 6-8 as they had been paying $35-40 premiums. Pocketed about $400 last week after jumping in on Wednesday.
 
SlyPokerCat said:
I'm an accountant so extremely risk averse. Just been doing covered puts with strike prices at 6-8 as they had been paying $35-40 premiums. Pocketed about $400 last week after jumping in on Wednesday.
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Interesting. I think I have been running a similar strategy in PLTR.

Questions though, as covered puts, you have the money to buy the stock right? Which means you could get stuck with the stock at that price if the bottom falls out? Am I understanding vyour position correctly? What's your strike and term and would you feel comfortable owning it at that price?
 
donkiez said:
Interesting. I think I have been running a similar strategy in PLTR.

Questions though, as covered puts, you have the money to buy the stock right? Which means you could get stuck with the stock at that price if the bottom falls out? Am I understanding vyour position correctly? What's your strike and term and would you feel comfortable owning it at that price?
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Yeah, i have the money to cover. So if i did a covered put at $6 strike price, they take $600 from my account and hold it until the put expires. I usually only do week of puts. If AMC would have gone below $6 by Friday end of day, I would have had to buy 100 shares of the stock at $6/share, but the $40 premium i got would lower my basis so i would have a basis of $5.6 per share. If AMC doesn't go below $6 by Friday end of day, I get to just pocket the $40 premium and get my $600 back.

Throughout the week you can always buy back your put, sometimes at a loss if the volitility is crazy or you can jump out if say the stock shot up for a partial gain anytime during the week when the market is open.

I usually don't want the stock. I just like collecting my premiums. I try to weigh risk and keep my strike price far enough away from how the stock is trending. I have made ok money doing so, nothing that will make me rich. But if I can pocket $100-300 during a week, i'm happy.
 
SlyPokerCat said:
Yeah, i have the money to cover. So if i did a covered put at $6 strike price, they take $600 from my account and hold it until the put expires. I usually only do week of puts. If AMC would have gone below $6 by Friday end of day, I would have had to buy 100 shares of the stock at $6/share, but the $40 premium i got would lower my basis so i would have a basis of $5.6 per share. If AMC doesn't go below $6 by Friday end of day, I get to just pocket the $40 premium and get my $600 back.

Throughout the week you can always buy back your put, sometimes at a loss if the volitility is crazy or you can jump out if say the stock shot up for a partial gain anytime during the week when the market is open.

I usually don't want the stock. I just like collecting my premiums. I try to weigh risk and keep my strike price far enough away from how the stock is trending. I have made ok money doing so, nothing that will make me rich. But if I can pocket $100-300 during a week, i'm happy.
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I have a buddy who does something similar. Which is how I started experimenting with this strategy. He does monthly puts at 3-5% premiums and says it's pretty full proof. If he gets put on the stock he immediately flips it into covered calls.

Currently. I have 1 covered put in PLTR for 2/19 at $24. I didn't realize I could close this position out early though, I thought I was in for the full contract term.
 
Option are actually really easy. As long as you only buy puts or calls then your risk is limited to the premium you pay when you buy it. You can sell (close) at any time before the due date. The price swings can be huge so you have to time it right.
 
donkiez said:
Option are actually really easy. As long as you only buy puts or calls then your risk is limited to the premium you pay when you buy it. You can sell (close) at any time before the due date. The price swings can be huge so you have to time it right.
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Maybe when everything is settled I'll keep Robinhood open for this alone as my YOLO super high risk spec account, but I'll probably switch to Schwab or TD Ameritrade and Gemini for normal shit.
 
TD is banning purchase also. Everyone seems to like Fidelity tho.

Options are a lot of fun, but it's even easier fo get carried away. It starts to feel like a crap table with bets all over the board with various levels of building excitement. My strategy has been to wait for big drop days like yesterday, then jump into a call for 3 month out or so about 10-20% OTM. I can usually close it on the rebound for a nice little profit.
 
donkiez said:
TD is banning purchase also. Everyone seems to like Fidelity tho.

Options are a lot of fun, but it's even easier fo get carried away. It starts to feel like a crap table with bets all over the board with various levels of building excitement. My strategy has been to wait for big drop days like yesterday, then jump into a call for 3 month out or so about 10-20% OTM. I can usually close it on the rebound for a nice little profit.
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I may go with Schwab because I've always wanted their no-international transaction, no fee ATM card. Its useful when traveling abroad, which I'll probably be doing significantly in the next few years. I do have an HSBC card that refunds like 4 transactions per month. Once I took money out of a Vegas Strip club and they charged me 10% for the transaction, and I got the 20 bucks refunded lolz.

My buddy just got hired at SoFi and said to give them a try-out. Plus Chamath apporoved.

Screen Shot 2021-01-30 at 12.22.16 PM.png
 
U
donkiez said:
I have a buddy who does something similar. Which is how I started experimenting with this strategy. He does monthly puts at 3-5% premiums and says it's pretty full proof. If he gets put on the stock he immediately flips it into covered calls.

Currently. I have 1 covered put in PLTR for 2/19 at $24. I didn't realize I could close this position out early though, I thought I was in for the full contract term.
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Yep. I do the same. If i get the stock i do a covered call.

But, sometimes i will roll the put out a week or two. If i can buy back my put and resell for a week out at a credit, that is another way to go. Time can be your friend.
 
$fubo

I said I was getting out of Robinhood, but fuck it, I'll put a little money in this on Monday I think, after I look it up a bit more. The twitter people I follow are chatting about it a bit more now.
 
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https://www.cnbc.com/amp/2021/01/30/neiman-saks-nordstrom-retail-battle-gets-personal.html

For Neiman, Saks, Nordstrom the retail battle is getting more personal

KEY POINTS
  • For decades, personal shopping services were reserved for the most affluent consumers at department stores like Neiman Marcus and Saks Fifth Avenue.
  • Now more department store sales associates earn commissions and build client relationships with personalized services offered online, a setup that also benefits retailers.
  • The Covid-19 pandemic also is shifting these experiences online through social media like Instagram and virtual styling technology apps.
  • "I don't see in-store shopping being a thing in the future," says one Saks Fifth Avenue sales associate.
 
So, should I buy gamestop tommorow at open or what? (If allowed to do so)

:NOTMARIS:
 
If you bought doge in the 2 cent range yesterday as it was much of the day, you almost doubled your money already.

Edit: appears to be the peak of that spike, back down again lolz
 
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EL PRESIDENTE said:
$fubo

I said I was getting out of Robinhood, but fuck it, I'll put a little money in this on Monday I think, after I look it up a bit more. The twitter people I follow are chatting about it a bit more now.
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WTF? Don't you realize that Fubo has an actual, growing business? Why would you invest in something like that?

barfo
 
So I'm wondering if AMC and BB are good long term investments. They're gonna get hit with the meme crash but if they drop down to like $5-$6 I might buy some more because people are saying they have a good future ahead of them.
 
Natebishop3 said:
So I'm wondering if AMC and BB are good long term investments. They're gonna get hit with the meme crash but if they drop down to like $5-$6 I might buy some more because people are saying they have a good future ahead of them.
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I would invest instead in whatever those people are smoking.

barfo
 
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