Still think TITNC3: Return of the Iceberg was peak

I just did a 1 hour discord "class" on intro to options trading for my girlfriend and brother. Was kinda fun. We all went 2 contracts PFE 3/19 $43c for their first trade. Cross your fingers.

 

So, CRSR almost doubles EPS estimates and beats revenue by 57M(14%). They also gave great guidance for the next quarter. Stock trades even. F you tech rotation.

 

CRSR is about the only thing I'm holding that actually went up today.

 

I was positive today.
Top five up: SQQQ, O, KMI, UDR, FDP
Down: BABA (ouch), VXX (wtf?), PFE, EEM, QYLD

Buys/sells
Sold cash covered Puts on VXX
Sold WTRG, ANIOY, ETG, IDA

Bought BIV, BABA

 

Check out my sweet SPY call that'll make me rich...Right... I just need someone to cure cancer or find a solution to world peace or something. Pump that bitch up to $400 and I can prolly retire

 

This is just a funsies account I set up to speculate on options. It was doing great until this morning lol

 

It just took them until the last hour of trading. lol

In other news, AAPL announced the new M1 chipset today. MacBook Air, MacBook Pro 13" and Mac Mini will get it and be released this week. It's significant in the fact that it's the 1st 5nm chipset for laptops. Basically, AAPL just waved a giant middle finger at Samsung and Intel. Pretty impressive.

 

I'm too poor with my fun account to play apple unless I'm buying options wayyy out of the money. And, well, judging by today, I'm not real good a playing the things I can afford either lmao.

 

Oh, in the past month I've made myself a lot poorer. I'm sitting on a bunch of AAPL NOV $115 calls that has a $7.15 premium. I need some traction in the next 7 trading days or that one is going to sting. $122 to break even.

The only real gem is those NIO NOV $28 calls. They are at 194% gain as of today's close. It's free money so I'll ride it through earnings. Like a greedy idiot. lol

 

That's the fun in options trading. It's not quite a slot machine, but close enough that if you guess right, big money up or down. $7.15 AAPL calls for NOV? I'll cross my fingers for you lol. You should be in the money though at this point right? Don't need much of a bump depending on when you bought them.

Edit just saw your break even. You're hosed. Rip in pieces. IV crush sneaking up on you...

 

Imma rant about Wells fucking Fargo here for a second. They closed my $10k unsecured line of credit this month without prior notice. a LOC I've had for over 10 freaking years. Why do I keep an LOC? So if something happens and I lose my job, or I need to make a big purchase, I can draw quick cash and therefore keep minimum amounts of cash on hand. Basically it's a safety net for a month if I need to sell securities to get cash.

Here's what these clownpants said in a letter they sent me: "We regret to inform you that we are no longer offering Line of Credit as part of the bank's credit offerings and the recent review of your account shows that there has been no account activity for at least 12 months. For these reasons, we closed your account s of November 4, 2020."

So I go to the website and it's, "We're not accepting new applications for Personal Lines of Credit or CD/Savings Secured Lines of Credit due to the economic uncertainty created by COVID-19."

Due to economic uncertainty. Well no shit you don't want to be leveraged during a pandemic, but screw you for taking away something I've had for YEARS as a loyal bank customer. No heads up just HEY WE CLOSED YOUR LOC. Assholes.

Edit: I just spent 20 minutes on the phone and talked with 2 supervisors. This blindsided them too, so WF is allowing them to re-open the LOC but with the understanding that it will likely be closed within several months. Mine was not closed because I used it infrequently, they're closing this loan option for everyone. Ominous sign of how WF see the economy in the near future...

 

I figured I’d post this here because you guys talk about options so maybe I can get some feedback.

I’d like to get 10 positions that are good for covered calls (I have more than that with enough shares to sell the contracts, but would like to dial them into specific companies for this purpose). Sell the 10 weekly contracts every Monday. Make strike price way out of the money, so premiums would be low, maybe $10 per contract. That’s $100 a week, $400 a month. If I get shares called away, I’ll buy them back. These stocks will be so boring it won’t be a big deal to do that (KO, T, VZ, etc.) I am a dividend investor and get a good income already but would like to increase it, so plan to hold forever.

What’s the risk? Or better yet, a good reason not to do this?

 

Try it out! Test the waters on something safe and run it a couple times to get a feel for the process. I don't see any super inherent risk as long as you don't get cocky and go too far in the money.

Let us know how it's working out.

 

I plan to start with 1 weekly contract for KO, do it for a while. I could do several safe ones now but would like to run it a few times first. It’s conservative and boring, but would add up over time.

 

I'm definitely interested in seeing how it pays out for you. On a low price stock where you can pick up a several hundred shares pretty cheap, might be a solid income play. I've never done it myself so I'm gonna watch you with interest.

 

All I gotta say is KEEP ON
GOING BITCOIN! Wooot 16k today
My Nikola continues to plummet, I think it’s a lost cause. On the other hand I can’t complain after my Tesla split and going the other direction.
I’m still new to the whole trading thing. Downloaded Robinhood and have been messing around with it in my spare time(not a day trader, just a hobby)

 

You might get a dead cat bounce on Nikola here soon that'll let you get out without too much blood lost. They beat earnings.

 

Not sure what that means, but I’ll take your word for it
I just log in and see if it’s red or green

 

Basically: Nikola = kaput. Good earnings = maybe a bit of a rise before it tumbles into the abyss. Dead cat hits the floor and bounces up just a bit before it lays dead forever.