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Colonel Taint
Mar 14, 2004


Cmdr. Shepard posted:

What happened to NLY today?

Most likely a reaction to the 8-K NLY filed after hours yesterday

http://www.sec.gov/Archives/edgar/data/1043219/000115752312000577/a50160705ex99_1.htm

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Colonel Taint
Mar 14, 2004


I feel like this is a dumb question, but who's responsible for covering options after they're sold? Is it always the original writer of the option?

Colonel Taint fucked around with this message at 20:01 on Feb 9, 2012

Colonel Taint
Mar 14, 2004


Investopedia is a bit confusing because it doesn't distinguish buy/sell orders in its definitions. The SEC Explains it a bit clearer


SEC posted:

Stop Order

A stop order, also referred to as a stop-loss order, is an order to buy or sell a stock once the price of the stock reaches a specified price, known as the stop price. When the stop price is reached, a stop order becomes a market order. A buy stop order is entered at a stop price above the current market price. Investors generally use a buy stop order to limit a loss or to protect a profit on a stock that they have sold short. A sell stop order is entered at a stop price below the current market price. Investors generally use a sell stop order to limit a loss or to protect a profit on a stock that they own.

To understand where and how an order you place with your broker is executed, you should read Trade Execution: What Every Investor Should Know. For more information on the different types of orders you can place when you buy or sell a stock, please read our investor bulletin “Trading Basics”.
and...

SEC posted:


Limit Orders

A limit order is an order to buy or sell a stock at a specific price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. A limit order is not guaranteed to execute. A limit order can only be filled if the stock’s market price reaches the limit price. While limit orders do not guarantee execution, they help ensure that an investor does not pay more than a pre-determined price for a stock.

To understand where and how an order you place with your broker is executed, you should read Trade Execution: What Every Investor Should Know. For more information on the different types of orders you can place when you buy or sell a stock, please read our investor bulletin “Trading Basics”.

So, if you wan't to sell at a price of at least $5.40, you would use a limit order.

Colonel Taint fucked around with this message at 15:24 on Feb 10, 2012

Colonel Taint
Mar 14, 2004


What the heck is going on with gold funds today?

Colonel Taint
Mar 14, 2004


lmao I was browsing SECs EDGAR for news and saw NMBL post good earnings. Saw the stock jumped so bought a put-protected position. I missed the part where HP bought the company at @12.50/share. I thought those puts seemed cheap...

Colonel Taint
Mar 14, 2004


Seamonster posted:

What the hell happened to the optical sector today?

FNSR earnings

Record sales on their part but not good enough, apparently.

Colonel Taint
Mar 14, 2004


Looks like there's no dead catz bounce for that one.

Colonel Taint
Mar 14, 2004


greasyhands posted:

Because the story is still the same as it was a year ago, and its at the low end of the range its been stuck in for a while now.

Anyone brave enough to get into CYCC? Its still a very small market cap stock, could go up for weeks.

Whew... that's a nice jump. VBIV is my current pharma play though. I got in near the end of Feb. around $5 and bought more in the dip last week. They already have a vaccine being sold in Israel and a number of other countries, currently seeking approval in Canada. Also, since you mentioned OPK - they (OPK) recently purchased a few million shares in VBIV.

Colonel Taint
Mar 14, 2004


The Biggest Jerk posted:

I need someone to tell my dumbass why it's not a good idea to find a stock that isn't growing or decreasing and just sell after gaining 1-2%, then buying after it goes down, then repeat over two days. Is the return crap? Too risky for too little gain?

Try it in paper trading for a few weeks.

Colonel Taint
Mar 14, 2004


jmzero posted:

But be clear about what you're doing: you're taking all the risk of holding a stock (that could flounder or nosedive), while you're not exposed to lots of potential upside (because you're selling whenever it goes up).

Sounds pretty similar to selling covered calls, when you put it like that.

Colonel Taint
Mar 14, 2004


Solice Kirsk posted:

touch it....TOUCH IT!!!

I have some FSLR 27 calls that expire today. Half my position after they get exercised is under a 28/31.5 collar and half is bare shares. I've already lost a good chunk on it - average cost per share I have, after the 27 exercise, is 36.20. I'm not sure what my actual cost basis per share is though, since I've been selling calls on FSLR for a bit.

Colonel Taint fucked around with this message at 20:06 on Apr 28, 2017

Colonel Taint
Mar 14, 2004


I can't recall where but I read in an article a while ago that basically more new auto inventory is staying on lots unsold in recent years than previously, used car prices are generally decreasing, and the cost of auto loans for lenders is increasing because something-something economy, thus making loans less affordable for people who need them. All of which is working against auto manufacturers.

As for TSLA I sold my shares a few weeks ago for $302 or so, was in at $180 and I'm happy with the profit. Don't see it having as much relative gain any time soon.

Colonel Taint
Mar 14, 2004


gently caress, I might actually break even on FSLR today.

Colonel Taint
Mar 14, 2004


Lol nice one optionshouse. I'm glad I'm paying attention (this is the default price it gives for some reason).

Only registered members can see post attachments!

Colonel Taint
Mar 14, 2004


Busy Bee posted:

I joined a $10 entry fee stock picking competition for my class. $100,000 initial investment and 3 week long competition. The competition has been going on for a few days and the top ranked person has a portfolio value of $102,705.05. I'm looking to hit homers so was wondering if anyone has any recommendations for a stock or two with high risk but high returns. Was looking into some Bitcoin investment stocks such as GBTC but my platform keeps telling me that I can't buy or sell stock with no ask or bid prices. Any recommendations?

Sign up for an OTC pump and dump mailing list. Go all in on every pick.

Colonel Taint
Mar 14, 2004


Question: I recently "upgraded" my etrade cash account to a margin account, but now it seems the platform automatically splits whatever I buy into a 1:2 cash:margin ratio. This is dumb because I want to hold some securites, and I'd rather not put margin into the ones I plan on holding for a while, especially at etrade's 10% margin rate but I can't see any way of adjusting it. Is the way margin accounts work with pretty much every broker?

Colonel Taint
Mar 14, 2004


Agronox posted:

Are you sure you're reading that correctly?

Your "available margin" will go down, because now you're invested in something, but you shouldn't actually have any margin loans out. Take a look at your cash.

So I was reading it slightly wrong, but still it seems to be using cash+margin without any option to change it

Example I have $1370 available as cash, $2740 as margin - Previewing a $400 order says:
Resulting Cash Buying Power 1,170.00 - $200 Cash used
Resulting Margin Buying Power 2,340.00 - $200 Margin used, 200 subtracted because of less cash I guess?

:shrug: Definitely going to be asking etrade support about it.

Colonel Taint
Mar 14, 2004


Loving how etrade shows all my positions at -100% when the market halts.

Colonel Taint
Mar 14, 2004


reignofevil posted:

At some brokers (td ameritrade in my case) you can day trade as much as you want if you give up the siren call of margin access. :getin:

You generally need margin to day trade unless you have poo poo tons of money to burn through because if not you're stuck waiting for cash transactions to settle. Or maybe you can day-trade penny stocks because I *think* the $25k rule only applies to margin accounts.

Colonel Taint fucked around with this message at 14:15 on Mar 14, 2020

Colonel Taint
Mar 14, 2004


Ur Getting Fatter posted:

Who buys the CZR puts if the company goes under or almost under?

Is there any liquidity on those contracts right now?

I would imagine it would be shareholders who were asleep at the wheel during all this and trying not to lose everything. At that point though, puts would have to be discounted a bit from their intrinsic value for them to be at all desirable.

e: oh or what Myers Briggs said

Colonel Taint
Mar 14, 2004


Leperflesh posted:


Also, IIRC you're using E*Trade, and IIRC this thread doesn't (didn't?) like E*Trade much.

Any idea why this might be? I have an etrade account that was once an Options House account and it seems fine, though I have nothing to compare it to really.


Thinking we may have at least seen the most dramatic of the drop for the moment, expecting things to go sideways, maybe slightly down for some time. Wrote some month-out calls on my long-term positions that I'm hoping will expire worthless. Got a bit trigger happy today though and bought in MRNA at near the daily high with a protective put. Somewhat regretting that decision as it was pretty reactionary in the moment, but still hopeful it will pan out. I guess if it really starts tanking near-term I'll sell the stock and keep the option.

Colonel Taint
Mar 14, 2004


Omerta posted:

Maybe I’m just dumb and/or missing something, but isn’t margin approval required to execute any short sale? I’m not planning to go beyond my account balance on a single-stock short.

Margin is required, yes. When you short stock, your broker has to find shares to borrow/sell. He's saying they might not be available. Another way to take a short position is to buy put options, which carry premiums that are super high at the moment, making it difficult to profit on puts.

If you somehow do manage to borrow shares and "don't plan on going beyond the account balance of your account" - you can still wind up net negative if the stock continues to rise, so you'd better have an exit plan.

Colonel Taint
Mar 14, 2004


Josh Lyman posted:

RIP my MRNA calls, stock dropped 12% during this press conference.

My calls expire Monday so they're not related to a long term outlook.

ahaha poo poo, I had my finger on the sell button at $34, got pulled off my desk by a coworker, came back to see it halted at around $29. At least I have a protective put... Not sure if this is due to the conference or that a Chinese firm also just announced they're starting human vaccine trials.

Colonel Taint
Mar 14, 2004


Josh Lyman posted:

If you sell when you're up 100%, how are supposed to make 200%? :colbert:

Yeah I mean hell, it already doubled. It's definitely a winner. Why sell now? Buy low sell never!

Colonel Taint
Mar 14, 2004


All non-life-sustaining businesses in PA ordered to shut down: https://www.inquirer.com/health/coronavirus/spl/pennsylvania-shutdown-lifesustaining-businesses-tom-wolf-shut-down-20200319.html

Colonel Taint
Mar 14, 2004


Pollyanna posted:

Meaning it goes up when other stuff goes down? Not sure what leveraged means in this case.

No it means it basically follow 1.5X what VIX does. Leverage in general means being able to access more funds than you have in cash (and thus multiplying earnings/losses). So if you're 1.5x leveraged, you're playing with 3x your cash holdings, usually via margin.

e: 1.5x apparently

Colonel Taint
Mar 14, 2004


Bored As gently caress posted:

This market / this situation is so absurd it's loving laughable. Gotta laugh about it or you'll go crazy.

Oh well. Maybe next time around I'll know better than to be greedy. Turned overall $9k into $28k. Figured I'd hold til I make an even 20 (my original goal), next day poo poo tanks to 20k, then goes to 18, then to 22, then to 24, then to 16, then to 12, then to 15, then to 10, and now to 7. Should've sold earlier and done different puts. All my puts are expiring 4/17, so I've got about another week for things to turn around before theta decay kicks my rear end and I lose everything.

Good thing I didn't put all my savings into this.

In the spirit of giving the markets an animal character, I've been calling it the Roni Pony market. I'm down like $9k for the year so far mostly holding. Made a few trades last week near the current bottom, added a position into NLY near its low. MRNA is the only thing that's really disappointing in my portfolio at the moment. Got in a bit late on it. Not sure what I should do now but I'm continuing to just hold.

Colonel Taint
Mar 14, 2004



What does chart astrology say about cock and balls pattern?

Colonel Taint
Mar 14, 2004


bob dobbs is dead posted:

i worked at a bank for a while contracting

i would not accept the code quality they had from high schoolers, is all. and apparently it's just typical of the entire industry. not that normal software is really an exception

people trust software when the experts tell them they shouldn't, it's a funny thing

I once spent a few months (I never got paid) training at a "software consulting" company that was basically straight up defrauding its clients. Basically they would take people with basic computer knowledge, train them a bit for like 3 months in Oracle, linux, and python, and market them out with resumes with 8+ years of experience, typically listing NY hedge funds. I'm pretty sure most of the people who actually stayed long enough to get jobs through them were H1-B, and the company was somehow holding that over them. Most of the hiring companies were banks and insurance companies. I don't even want to think about what happened to the software systems as a result of this.

Colonel Taint
Mar 14, 2004


Just got handed an API key for my etrade account. This should be fun. Anyone here ever dabble in algo trading and have any recommendations?

Colonel Taint
Mar 14, 2004


Lote posted:

You do know oil hit $17.25 right? There are literally no more places to store oil. The pressure to lock in next months oil futures contracts is gonna wipe out the contango plays unless they lock that poo poo down right now.

What happens to the excess oil then? At some point the oil's gotta go somewhere if there's no storage - are there perhaps some downstream commodities that are easier/more efficient to store than raw crude? Like are we going to see at some point a surge in refinery utilization - or is that already happening?

Colonel Taint
Mar 14, 2004


Leperflesh posted:

Thanks buddy, I wanted to see the ones in the negatives but it's still helpful for comparison. 200-300 contracts every minute on that chart, so if we're down to 385 in five minutes that does imply much lower volume while in the negatives.

Here's what it currently looks like in etrade

Colonel Taint
Mar 14, 2004


https://twitter.com/chigrl/status/1252584073782013957

No idea what it means but it seems important.

Colonel Taint
Mar 14, 2004


Megasabin posted:

So before I went and actually got educated on LEAP yesterday I had purchased two without really realizing what I was doing. AAL & Ford calls both for 1/21/2022.

They are both in the money right now. It sounds like several people thought it would be better to just own the stock in the long run. Previously I've just been using options to take the money. I could actually execute these and turn them into the actual stock itself right at the price I locked in before they went up?

Why would you do that though? A LEAP will have a lot of premium to it (which you already paid for) along with the intrinsic value. If you really want the underlying at this point, I think it would be better to sell the option to recover some of the premium, then buy the stock. You're forfeiting the premium if you exercise early.

Currently kicking myself for not buying ZM puts on Friday after the FB competion was released.

Colonel Taint
Mar 14, 2004


A couple of picks for the Dystopia fund. Basing this on what these companies do without researching their financials at all:

BAH - they're basically spies, inc from what I understand, and would likely be doing whatever dirty work 3-letter agencies are able to offload.

AMBA,NVDA,XLNX - Video endpoint and processing hardware necessary to gather/make sense of any video surveillance

CSCO,VZ, - moving all that data around

NET - My understanding is that they're essentially running man-in-the-middle proxies as protection for DDoS, could potentially be taken advantage of for tracking if it's not already. Chart currently looks attractive.

Colonel Taint
Mar 14, 2004


skipdogg posted:

Whew, I was able to get out of that 282 call at a minor profit. What a ride.

Anyone here holding CSCO for earnings?

Had 50 shares on Monday, traded some then for July 20 44 Calls. Looking goodish so far.

Colonel Taint
Mar 14, 2004


Well, I'm sure glad I didn't sell my single MRNA 50 leap call last week when things were looking bleak... I'm still not sure at what point I should sell though. I'm still skeptical that they'll make a successful vaccine, but also they keep pumping it. If I were holding share's I'd probably take profits on a portion of them after big pumps like this, but I'm not sure what the best thing to do here really is - at some point maybe I'll take profits from the call and use a portion of it to buy shares.

Colonel Taint
Mar 14, 2004


reignofevil posted:

They scan for keywords in certain combinations so not really "interpreting" in the strictest sense like someone could write "We are absolutely not expecting a big crash" and if the bot isn't familiar with how negation works it might just read in "big crash" and start acting on its own. That said I'd be amazed if they hadn't worked that particular kink out by now.

There are algorithms way more sophisticated than that and also fairly cheaply available as black-box data. See for example https://iexcloud.io/docs/api/#brain-companys-30-day-sentiment-indicator - I don't know that I'd set a bot loose with just those indicators, but I don't know that I wouldn't either - were I to completely automate trading, I think I'd want some sort of sentiment factor, because indicators based on price history are rarely of any real use in my experience.

Colonel Taint
Mar 14, 2004


Would appreciate an invite via PM.

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Colonel Taint
Mar 14, 2004


Moose_Knuck posted:

Just posting to remind people that the SQQQ is an alternative if you don't want to play the timing game with SPY puts.

Wouldn't you want to use SPXS or SPXU for that?

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