Hmm, new thread title?

I honestly didn’t know, I see people say that but never knew what they meant. I assumed it meant sell everything, but what you said makes more sense.

 

You can make money in the mean time though. No need to sit cash heavy for 6 months.

 

You don't go cash without crazy tax bills. You just make sure you set aside enough to pay the .gov for your gains at the end of the year. If I make 200% on something in a week, I'm for sure going to cash that out and just save half of it for tax purposes. No sense riding something long enough to get long term capital gains if you're making an acceptable amount of money versus potentially losing all of it because you held on to save 20% tax.

Also, if you're doing anything that incurs short term capital gains, do yourself a favor and hire a CPA. I have 3 brokerage accounts I mess around with, the smart ones (kairo's retirement money) and the dumb ones (kairo plays options like a fiend). Instead of mucking about with all my tax forms at the end of the year, I send it to my guy, pay him $250, and wham bam thank you ma'am it's all done. I haven't gotten a tax return in probably a decade or more. I just accept the fact that I get to write a check every April, and plan accordingly

 

That is where I was coming from.

FTR 95% of my trading is in tax advantaged accounts.

 

Yah. All my tax advantage stuff is my retirement moneys. I get dicked hard tax wise on the options stuff and my individual stock hold accounts. I leave the tax advantage (401k, Roth) in index or mutual funds. I'm not brave enough to screw with my "free" money

 

I have other ways to control risk. I don't always beat the averages, but I have not had a negative year in many moons. I just cannot handle all the book keeping and taxes in regular accounts. I just hold muni bonds, muni CEF's and muni funds in taxable accounts. They pay well enough and no taxes (although many (all) HAVE appreciated)

 

Oh, and by the way I lied. I was gonna cash sit. I bought more PLTR calls. In the money but long exp's

 

I missed your comment yesterday. The funds are getting in. There was significant fund investment at sub $20/share. ARKK bought in, and I'd trust that gal with my truck. Soros bailed, but he's a bit of a bitch and just wanted an excuse to cash out his early investment. I think this one is gonna go the distance. I'm not gonna bet my life's savings on it, but I'm throwing in some buy and hold money towards shares.. I started in Oct at $10 and it's been one of my better moves this year.

 

Also, I love you CRSR

 

From my Fidelity front page:

-$1.09 (0.00%)
Today's Gain/Loss**

 

lol. Could be better. Could be worse. That's a "meh"

 

So the entire goal of my options experience was to see if I could make enough money to buy a shell for my taco. As of today I reached that goal. Initial seed, $1k. Cashed out $4.8k. Total time, just under 4 weeks. Not a bad experience. Had a lot of fun along the way.

 

It's a bit rare that it's 0.00%, hence the post. Usually swings +/-$1000 when I glance.

 

Nice. Similar to my goal for a nice mountain bike. I was shooting for $5-$10K, ended up with $15K! But no bikes to buy!!!

 

I just looked at my big account. Same thing give or take.

 

I got a new Salsa hardtail right as the wuhan struck. Bikes were getting hard to find even back in March!!

 

I’m on week 2 of selling OTM covered calls. These are closer to being ITM than last week because of the rally. Not bad, easy to do, and should pull in $250+ a month if I keep doing it.

 

If they ever get ITM you can roll up and out if you want a shot at keeping the shares.

 

I am debating on how to handle that. It is MO, T, KO, NUE, PFE, and VZ. I feel like I can buy these back a week or so later at the same price since they move so slow. I want to own them for dividends so I won’t let them go for too long.

 

That just depends on how far ITM they end up. If they are ITM but less then the premium you got let them go. Then buy back in Monday AM. If they are way ITM it's better to roll out and up. You'll make money from doing that as long as you go a few months out.