Zombie The Coronavirus Financial Thread (Personal, Local, National)

can you buy it using another crypto?

 

No clue, I just used robinhood. I may go to Gemini now.

 

Boeing double upgraded today by a firm. Telling you guys flip some meme stock profit into this at these prices. Its less than half ATH, its boring, there is a pandemic that is suppressing sales and the boeing max problems that are just now resolving. There is also a theory that China needs lots of planes and will be likely to make a big order to make nice with the Biden admin. It wont be as exciting as GME and AMC so buy it and forget about it, but its as close to a sure thing as you get in the stock market in my opinion.

 

Its a good day to buy.

 

I think the casino stocks worth a look coming into the supposed recovery, they are still significantly off their ATHs.

Crisper is one of my favorites and at a buy price also. It's speculative and biotech has been hot but I really believe in this technology. It's already doing amazing things and has promise of a lot more.

 

I was monitoring Las Vegas Sands, they are about to sell the Venetian but I think expand the Sands Expo Center and then focus on casinos in china.

Sheldon Addelson just passed away as well.

 

I own LVS and I'm down on it a bit. I think by the fall it will be showing big green. PENN is another to look at

 

Made money off options this week on AMC.

Not sure what I will do on Monday. Hoping for a dip before it takes off. We will see. Options appear to still be paying off like crazy for them.

 

only 7 new cases on big island reported thursday and 5 yesterday.
Five New COVID Cases Confirmed on Big Island
By Big Island Now
January 29, 2021, 12:10 PM HST (Updated Jhttps://bigislandnow.com/2021/01/29/five-new-covid-cases-confirmed-on-big-island/anuary 29, 2021, 12:12 PM)

 

What kind of spreads have you been picking?

 

I'm an accountant so extremely risk averse. Just been doing covered puts with strike prices at 6-8 as they had been paying $35-40 premiums. Pocketed about $400 last week after jumping in on Wednesday.

 

Interesting. I think I have been running a similar strategy in PLTR.

Questions though, as covered puts, you have the money to buy the stock right? Which means you could get stuck with the stock at that price if the bottom falls out? Am I understanding vyour position correctly? What's your strike and term and would you feel comfortable owning it at that price?

 

Yeah, i have the money to cover. So if i did a covered put at $6 strike price, they take $600 from my account and hold it until the put expires. I usually only do week of puts. If AMC would have gone below $6 by Friday end of day, I would have had to buy 100 shares of the stock at $6/share, but the $40 premium i got would lower my basis so i would have a basis of $5.6 per share. If AMC doesn't go below $6 by Friday end of day, I get to just pocket the $40 premium and get my $600 back.

Throughout the week you can always buy back your put, sometimes at a loss if the volitility is crazy or you can jump out if say the stock shot up for a partial gain anytime during the week when the market is open.

I usually don't want the stock. I just like collecting my premiums. I try to weigh risk and keep my strike price far enough away from how the stock is trending. I have made ok money doing so, nothing that will make me rich. But if I can pocket $100-300 during a week, i'm happy.

 

I have a buddy who does something similar. Which is how I started experimenting with this strategy. He does monthly puts at 3-5% premiums and says it's pretty full proof. If he gets put on the stock he immediately flips it into covered calls.

Currently. I have 1 covered put in PLTR for 2/19 at $24. I didn't realize I could close this position out early though, I thought I was in for the full contract term.

 

I don't do options. Seems too complicated for me right now.

 

Option are actually really easy. As long as you only buy puts or calls then your risk is limited to the premium you pay when you buy it. You can sell (close) at any time before the due date. The price swings can be huge so you have to time it right.

 

Maybe when everything is settled I'll keep Robinhood open for this alone as my YOLO super high risk spec account, but I'll probably switch to Schwab or TD Ameritrade and Gemini for normal shit.