Still think TITNC3: Return of the Iceberg was peak

Holy shit. I just looked up BBIG's cost to borrow. It's over 280% right now. That's batshit crazy. I'm going to free up some funds and exercise all 20 $7.50's expiring tomorrow.

 

I'm may do the same with some of mine if it's lookin like that. So...gtii and bbig. I have a busy day at work tomorrow

 

I'm going to sell some NVDA to free up the funds. That's how sure I am about this taking off next week. CTB rates that high mean there's no shares available. It is close over $12 tomorrow that's at least 2.5M REAL shares that need to be bought. I doubt many of those ITM calls are covered. Writing naked options on a heavily shorted stock that's gaining momentum is the perfect gamma squeeze set-up.

I'm sure I'm wrong and somehow I'll lose money on this but I'm still doing it. lol

 

I don't doubt something is gonna happen, and the risk is worth the potential. I'll push some more to acc...just in case

Edit: funds moved and will sell off some tomorrow. Not going to exercise everything, but should be a fun time

 

Crap, am I gonna have to jump in with both feet on this one? Could be boring if I don’t

 

That CTB rate tells me it's gonna go way up before it goes way down. I think the $20 target you have will be hit next week. That's why I'll exercise instead of sell the calls.

Didn't you buy in and get out today? lol

 

What's your opinion on keeping then selling some calls later and exercising the rest to sell?

 

I bought 2 calls yesterday and 2 today. Still holding 1. I was getting bored of waiting for 20. Tried low bid for 5 today, but didn’t drop enough. I’ll get more tickets tomorrow I’m sure. I do need to avg down on GTii also, my last buy, almost guaranteed

 

Like sell covered calls on shares owned? I wouldn't. To much volatility. That's how @TreeFortRichard left a bunch of cash on the table with AMC. It's happened to me with NVDA before as well.

I'm done with GTii until something or nothing happens. BBIG has momentum and a shit ton of ITM options on new weeklies. Add the monthly expiry next Friday and something has to give. I figure it's worth throwing some money at to see what happens. You know, like a $15K lottery ticket. lol

 

I don't sell covered calls. Just buy the calls early (@TreeFortRichard has been a great guy at posting potential gains), and sell them later for a profit. I would only exercise the calls or just buy the shares outside the calls

 

I’ll be checking where the sept 17 and 24 are in the morning. Set a few orders, it’s just money.

 

Yep. It could end up being a lot more money. Or a lot less. lol

 

Every damn day.

 

That BBIG gamma squeeze is just a matter of time. The SI is going up 8-10% a day. +30% today. 99% utilization. Just a ticking time bomb for real this time

 

There is almost ALWAYS more money in selling to close than exercising.
The only time I would exercise for shares is if I were near expiration and something crazy was happening and I could miss out on big gains after hours...
IE $GME...
I had $40 march call I exercised for 100 shares and...$110 calls...Fucking insane money for me at the time as my total account value was around $35K I think...This was a yolo before I knew what that was...I wanted shares because it was spiking 50% after hours...I wanted the ability to sell some shares to capture some gains...
OF course I would have been better selling the call and buying shares the next day...but hey...I'm not crying...Only missed out on an extra $120K or so....


As far as $AMC goes I kept selling a 1 week covered $2 out of the money for about $100...this was great but eventually I was trapped when I had the $13 sold and it went to $20...I wasn't shelling out $ to hold onto $AMC I paid $700 for and was holding for free...I kept rolling the call hoping it would come back down but then it got into $60 land and that buy back didn't seem so bad...Long story short...I let the shares go.
I still made nearly 3x my initial investment...but missed out on about $6,000.....
Oh and I had TWENTY $5 $AMC Feb 5 2021 calls I bought for $118-150 ea...I sold them to close at a 4x profit and didn't exercise any because come on...$AMC? How high could it go...
uuuughh...


SOOoooo
If you think you're going to miss out or want a few lottery tickets, exercise one...

But if it's a regular old stock (NVDA) sell to close will always give you 1-3% more $ than the actual share costs...this $ goes into the hundreds of difference as the share price goes up....
SO with $NVDA trading at $220 the $200 call expiring tomorrow as $2235. The share price was $221.77 That difference is 221.77-200x100= $2177 so the option with 1 day to go is worth $50 more than the closing price.

 

My calls hope so...

 

That's a lot of info. Thanks for the tips!. Just want what's best for my pocketbook. Until I'm more sure of myself, selling is my best option.

 

https://apple.news/AbN8KlOb6SYm2Jmnr7c40UQ Maybe ?

 

401ks are overrated

 

Not true. you see not only does the money come out of your pay pre-tax which reduces your overall tax rate, also if your company is matching that’s instant returns. These two facts alone equal as much as an instant 40%+ return on your money before you even bought a single share of stock. ALWAYS contribute enough to maximize whatever your company is matching. After that you can do an IRA if you wish.

I’ve actually explained this to dozens of employees over the years. Still most of them do not grasp the concept.