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FasterThanLight
Mar 26, 2003

Red posted:

Not sure about the nuts and bolts, but if you call eTrade and say you're leaving them for another broker because of re-org fees, they'll waive it.

I've had Etrade automatically refund re-org fees without asking in the past. Not really sure why. But I AFAIK splitting spac units requires a call anyway, so easy enough to whine at them after waiting on hold for that.

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FasterThanLight
Mar 26, 2003

Syrinxx posted:

Getting into MNMD at $5.75 was not my smartest move, but hey at least it'll take a long rear end time to suck as bad as SENS

I'll bet it becomes pretty good for selling CCs once options become available.

FasterThanLight
Mar 26, 2003

once again my watch's daily stress graph matches the daily VIX graph

and not a single one of my falling knife buy orders hit :rolleyes:

FasterThanLight
Mar 26, 2003

the fact that my crypto is up around the same amount that my stonks are down today actually makes me more upset

FasterThanLight
Mar 26, 2003

Have some NKLA 6/18 10p . I don't expect earnings will matter much since everybody knows there is none, but I suspect underlying will bleed a bit over the next week or two due to lock-up expiration. That might be priced in to the premiums (who am i kidding, everything is always priced in), but I can't help it - I enjoy betting against NKLA.

FasterThanLight
Mar 26, 2003

Dangerously close to being green for the day. The only things that have done well for me lately have been financial services, so when I saw C, JPM and MS all below where I previously sold them, I bought some ATM calls. gently caress you MA, though. Had some lucky timing on SPY puts too.

also MNMD :v:

FasterThanLight
Mar 26, 2003

As far as I understand, exchanges kinda act as a giant dark pool, and it only adds load to the network when users deposit or withdraw. Robinhood takes it a step further because they don't even issue wallets to individual users or allow deposits/withdrawals. So, they're not making as many transactions on the PoW network, which I guess is better?

Regardless, there are tons of other cryptocurrencies that manage to work fine without craploads of power sucking miners.

v correct. No idea how often that happens though.

FasterThanLight fucked around with this message at 02:35 on May 5, 2021

FasterThanLight
Mar 26, 2003

ChocNitty posted:

After getting hurt on those tech stocks, and closing my positions and wiping the slate clean, i'm making some different moves.

Man, it took me way too long to figure this out, I just couldn't let go of 2020's winning strategy of electric cars, spacs, and spaceships. I miss the +20% days, but at least I'm actually making money now on sector indexes and SPY scalping.

I did buy FSLY leaps today though, just because I like the company and have intended to open a position for awhile, but every day I think "eh, it will probably go down more". And I'm sure it will.

FasterThanLight
Mar 26, 2003

Deviant posted:

My SPY calls are slowly cleaning up the mess I made putting money into MNMD, and if that comes back i'll be even more gravy.

MNMD options are available now if you want to start chipping away with CCs

FasterThanLight
Mar 26, 2003

well gently caress. sometimes these days end up being the ones that bizarrely turn out green for me, but this is too much to battle back from.

edit: at least my DOGE short position is green, slightly

FasterThanLight fucked around with this message at 14:01 on May 11, 2021

FasterThanLight
Mar 26, 2003

Ola posted:

If you don't mind me asking, how exactly do you short doge? Borrow it and sell it, CFDs, ETNs?


I'm using Kucoin, which has a perpetual futures feature that allows you to short sell (they also have a more traditional short selling option which I haven't tried yet). They will auto liquidate your position once its value gets below the amount of USDT you deposit into your futures/margin account as collateral.

and lmao, PLTR and FSLY are the only green stonks I see today. whoda thunk.

FasterThanLight
Mar 26, 2003

Michael Corleone posted:

It wasn't a diss on Joey at all! Like Trumpbuxs, BidenBux, the currency, lame meme. Anyway, I think that ZOM can come back. RIOT is the crypto company, I like to buy it when BitCoin is down, now I am bag holding. BUT, if it can hold 29 I feel pretty good, keeps testing 30. It is not a sprint but a marathon. I BELIEVE they will come back in the mid to long term so I am holding. I don't read WSB.

out of all the companies in the world to invest in, you picked crypto mining and hypothyroid test equipment for cats

FasterThanLight
Mar 26, 2003

what do you tip a pallet guy?

FasterThanLight
Mar 26, 2003

/me checks to see what those 5/14 420p I dumped on Monday for a tiny profit are worth

I'm gonna get a beer. Who wants a beer?

FasterThanLight
Mar 26, 2003

so thats why my gains on CORN calls are wiped out. hope they get it fixed by August.

FasterThanLight
Mar 26, 2003

Sometimes I'll look for things that get oversold on ex-dividend, but rarely see anything worthwhile.

FasterThanLight
Mar 26, 2003

if you're AMC or GME you can also return money to shareholders by diluting shares

FasterThanLight
Mar 26, 2003

Michael Corleone posted:



Give me your worst! All but CCIV and RIOT/BLOCK options are trash, but those are good, right?

why are you using the etrade java gui, it isn't 1998

FasterThanLight
Mar 26, 2003

cr0y posted:

Are companies just allowed to willy nilly issue new shares during these things?

Because I'd issue new shares during these things

Didn't AMC do exactly that last time around and it wiped out their debt?

FasterThanLight
Mar 26, 2003

Checked the IV on AMC options, lol. So many times I've considered selling CCs on this, and never did because I thought it was too stupid and I'd end up holding a giant bag.

Oh well, in for some 6/18 15p. How about one of those short ladder attacks I keep hearing about tomorrow.

FasterThanLight
Mar 26, 2003

cr0y posted:

My puts are not doing nearly as bad as I thought they would be

My puts are up a decent amount as IV has gone even more crazy. I should probably just sell now, but I kinda want to hang on and watch the mayhem ensue.

FasterThanLight
Mar 26, 2003

cr0y posted:

Whats the expiry? I'm HODL until money printer go brrrr or they collapse to zero

6/18 15p. I think there's a good chance that goes ITM, but if IV falls to normal levels I'd probably lose money holding these.

FasterThanLight
Mar 26, 2003

GoGoGadgetChris posted:

I suddenly have $1.8M in a Robinhood account



How miserable is it going to be to get this into my checking...

Wait, did you buy >1000 69c weeklies? drat, nice job.

FasterThanLight
Mar 26, 2003

I loaded up on VIX calls when it was in the 16s, sold them around open this morning, and bought SPY with the proceeds. Why don't I just do this all the time?

FasterThanLight
Mar 26, 2003

Cacafuego posted:

It’s not technically an EV, but EV related - What are the collective thoughts around THCB/Microvast? They dropped by about 50% in the SPAC crash earlier this year.

IMO their biggest issue is that the merger was handled poorly, creating a lot of uncertainty that it will even happen. Long periods with no news, barely meeting deadlines, and whatever that legal trickery on the last vote was. Ive done alright selling calls on the occasional pop to $13 and buying them back when it inevitably falls back to 11-12.

I do think it will do alright once/if the merger is done and the ticker is changed, but after this bumpy ride I won't be too sad if my shares get called away.

FasterThanLight
Mar 26, 2003

gay picnic defence posted:

Well yeah, but assuming there are options available there isn’t any other hidden pitfalls with that as a strategy?

Check the volume, liquidity can be an issue on LEAPS. And sometimes the bid/ask spread can be huge, and while you might get your order filled at somewhere in the middle, it might actually turn out be a terrible price that you'll never be able to sell it for. If you plan on exercising that's less of an issue, but I tend to avoid any options that don't have a lot of volume.

FasterThanLight
Mar 26, 2003

I played SPY puts almost perfectly today...too bad that only barely offset my AHT CSPs getting destroyed.

FasterThanLight
Mar 26, 2003

Hadlock posted:

Someone is going to chime in now that I should have sold it all and been buying SPY calls this whole time instead

I'm up 10% this month on SPY calls/puts and down 10% on my other shitstonks. I'm not smart enough to know what to do with this information.

FasterThanLight
Mar 26, 2003

GrandmaParty posted:

If Powell could just stop talking, I'd appreciate it. Every time he opens his loving mouth, I lose money.

My SPY puts during his testimony yesterday and today have done alright

FasterThanLight
Mar 26, 2003

MetaJew posted:

Is there a way in ETrade's Powertrade applet to graph after hours trading/prices isntead of the chart just stopping at 3PM CST and then displaying an extended hours price? I want more candles.

Display menu -> Extended Hours

FasterThanLight
Mar 26, 2003

Cleaned up on some SPY puts at open, then gave it all back trying to re-enter at a bad spot. And if I would have held on they would be bright green now. I'm going home, see ya tomorrow.

FasterThanLight
Mar 26, 2003

Bought 5DTE 439c at open, about 100% gain in a couple hours. Let's do it again after lunch!

FasterThanLight
Mar 26, 2003

FasterThanLight posted:

Bought 5DTE 439c at open, about 100% gain in a couple hours. Let's do it again after lunch!

Rode a few more calls up from 439.40 to 439.99. Feels like 2020 again.

FasterThanLight
Mar 26, 2003

Cacafuego posted:

I had 200 shares of THCB and I believe as of Monday that I'll have 200 shares of MVST (Microvast) as the SPAC merger has completed. I had previously sold a covered call on THCB though for 9/17. Do I still have a CC On TCHB for that date, or do I have a CC for MVST for that date? Basically, does the option carry over to the new merged ticker, or no?

from my previous experiences with SPAC ticker changes, I'd expect to have a CC for MVST on Monday.

FasterThanLight
Mar 26, 2003

Umbreon posted:

I'm trying to do some additional reading into how taxes work with the strat I'm using. Currently, I buy a bunch of SPY calls that are at least 90 days out, and wait until they have 30 days remaining, and then sell them. This has been a profit every time I've done it, and functionally I do it every two months or so, which should mean that it's being counted as regular income for me since I'm not holding it for a year.

Is my understanding correct when I assume that every time I sell all my calls, and roll them into new calls with the profits included, I'm creating a taxable event on the profit? And with my current tax bracket, I believe that should be around 24%, so every time I sell my calls and roll them, I'm going to be paying 24% of the profit in tax?
You should consider SPX or XSP instead, as the IRS treats 60% of the profits from these as long term capital gains. SPY is great for liquidity but if you're holding them for awhile that doesn't matter as much.

FasterThanLight
Mar 26, 2003

cr0y posted:

Polling the audience: Are we bearing or bullish for the S&P for August?

condoring

FasterThanLight
Mar 26, 2003

My weekly IWM iron condors expired worthless once again. Opened more for next week at about the same strikes.

Please keep doing jack poo poo, Russell 2000.

FasterThanLight
Mar 26, 2003

hydrocarbonenema posted:

SPY going below 440, wow.

Still a little way to go until the monthly visit to the 50ma. Then we load up on calls.

FasterThanLight
Mar 26, 2003

I guess I picked the wrong day to sell AMC calls. Though it did almost dip down to my breakeven point.

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FasterThanLight
Mar 26, 2003

I've always thought that whenever you see "mister" spelled out like that it's either sarcasm or someone telling a kid that he's in big trouble. Either way, not someone I want washing my car.

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