|
Get to Beverly Hills and have some poor people throw money out of helicopters already!!!
|
#
?
Mar 9, 2020 14:50
|
|
|
|
| # ? Jun 6, 2024 14:41 |
|
|
Agronox posted:From "Reminiscences of a Stock Operator," written nearly a hundred years ago. This passage is burned into my memory. The whole book is interesting but this little bit (I won't quote it all) has been incredibly useful to me in terms of not screwing things up: Reminisces is a fascinating read for a bunch of reasons, both positive and negative. Its worth noting Livermore completely blew up his account and went broke multiple times, eventually culminating in his suicide- So I've always thought it best to take it all with a big grain of salt. Its full of broad aphorisms that are nearly impossible to actually apply in a rational way, which is probably why he eventually drove himself insane. That quote is emotionally appealing, but what does it actually *mean*? Sometimes sitting tight leads to missing out or losing big, sometimes it bounces back in your direction... its random, and that kind of thinking is not 'discipline'
|
|
#
?
Mar 9, 2020 14:50
|
|
|
Yeah I have VIX calls that were up 250% before the halt, it just shows them at .01 during the halt
|
|
#
?
Mar 9, 2020 14:51
|
|
|
I feel a little gross about how much money I've made off of TLT.
|
|
#
?
Mar 9, 2020 14:51
|
|
|
 Fuckin halt glitched out thinkorswim and gave me a goddamn heart attack.
|
|
#
?
Mar 9, 2020 14:53
|
|
|
The IV is so high that even my dumbass calls still have value
|
|
#
?
Mar 9, 2020 14:53
|
|
|
Serious loving regret not buying more puts on CCL and NCLH or other cruise lines. gently caress me.
|
|
#
?
Mar 9, 2020 14:55
|
|
|
Agronox posted:From "Reminiscences of a Stock Operator," written nearly a hundred years ago. This passage is burned into my memory. The whole book is interesting but this little bit (I won't quote it all) has been incredibly useful to me in terms of not screwing things up: I tried reading reading 'Reminiscences' but it just never made sense to me because it just seemed like he often simply just had an information advantage, tripped over his own leveredged dick and then basically scammed people. And yet everyone says that they learned so much from it. It's kind of like everyone who got into investment banking because 'Wall Street' was so cool. And even the parts that were useful, like you mentioned, just seemed like hindsight-tinted aphorisms.
|
|
#
?
Mar 9, 2020 14:55
|
|
|
greasyhands posted:Reminisces is a fascinating read for a bunch of reasons, both positive and negative. Its worth noting Livermore completely blew up his account and went broke multiple times, eventually culminating in his suicide- So I've always thought it best to take it all with a big grain of salt. Its full of broad aphorisms that are nearly impossible to actually apply in a rational way, which is probably why he eventually drove himself insane. That quote is emotionally appealing, but what does it actually *mean*? Sometimes sitting tight leads to missing out or losing big, sometimes it bounces back in your direction... its random, and that kind of thinking is not 'discipline' Moreover the refutation is an actual useful quote: "All models are wrong, some models are useful." If you have a model that shows you to buy now, or to sell now, then you can (and if it's EV has been positive, probably should) follow its suggestions. But the model's still wrong, and you've always gotta have some ability to accept that.
|
|
#
?
Mar 9, 2020 14:56
|
|
|
With the halt any chance they close short selling?
|
|
|
#
?
Mar 9, 2020 15:03
|
|
|
greasyhands posted:Reminisces is a fascinating read for a bunch of reasons, both positive and negative. Its worth noting Livermore completely blew up his account and went broke multiple times, eventually culminating in his suicide- So I've always thought it best to take it all with a big grain of salt. Its full of broad aphorisms that are nearly impossible to actually apply in a rational way, which is probably why he eventually drove himself insane. That quote is emotionally appealing, but what does it actually *mean*? Sometimes sitting tight leads to missing out or losing big, sometimes it bounces back in your direction... its random, and that kind of thinking is not 'discipline' Well I mean, take the advice broadly--if you have a strong stance on what the market should be doing, or if something is significantly mispriced, don't go around trading yourself out of the position, stick with it until it resolves. That may seem really simple but when you actually have money on line it's not. Remember how you said last week or whatever that if you sat tight you'd be up millions of dollars? You traded yourself out of it, right? I don't say that to throw salt on a wound, just that, man, personally my biggest mistakes, the ones I feel the worst about, are from closing a winning position way too early. That's why that passage resonates with me. (You're right about Livermore generally, he's no great example, but take what's useful and throw away the rest)
|
|
#
?
Mar 9, 2020 15:05
|
|
|
bollig posted:I feel a little gross about how much money I've made off of TLT. Same, the spread on TLT calls is wild today.
|
|
#
?
Mar 9, 2020 15:10
|
|
|
Yeah honestly I can’t feel bad. I sold at peak VIX on Friday so all the stuff I held is actually not significantly up this morning. Feeling better. loving nailed that 60 VIX open call though. Too bad there was no way to get down on it.
|
|
#
?
Mar 9, 2020 15:11
|
|
|
Carnival Cruises trading at 23.70 and my Mar 31 puts are so deep ITM I basically can’t unload them without taking a huge hit on spreads 
|
|
#
?
Mar 9, 2020 15:14
|
|
|
Bloody 'ell. My VIX puts lost 40% value over the weekend and I am not feeling great. Well, that's the nature of gambling I guess.
|
|
#
?
Mar 9, 2020 15:14
|
|
|
Idk whether to hold on my Disney $100p 3/20, or CCL 3/20 $27p, or NCLH $30p 3/20. They're all up so loving much. Only have one contract of each.
|
|
#
?
Mar 9, 2020 15:18
|
|
|
https://twitter.com/AskRobinhood/status/1237016846282280961
|
|
#
?
Mar 9, 2020 15:24
|
|
|
CPLG trading for about 1/3 the value of its assets, if you assume coronavirus isnt going to permanently seize travel and hotels will have value in our godless future.
|
|
#
?
Mar 9, 2020 15:27
|
|
|
Bored As gently caress posted:Idk whether to hold on my Disney $100p 3/20, or CCL 3/20 $27p, or NCLH $30p 3/20. They're all up so loving much. Only have one contract of each. In your shoes I'd: - Pick a multiple on my capital I'd like to get back (X) - Subtract 1 from it (Y = X-1) - Vertical spread to move the strike on your options down to get your purchase price back out. (now you're playing with house money) - Open a good till canceled sell on your new contracts with a limit at Y multiple. (You've now made X but you won't be kicking yourself if this retard strength rally holds.) Worst case scenario is you got to play for free. Best case scenario is you hit your target with more movement than you would have needed for it by not derisking.
|
|
#
?
Mar 9, 2020 15:28
|
|
|
Dwight Eisenhower posted:In your shoes I'd: Thanks, that makes a lot of sense. I appreciate it.
|
|
#
?
Mar 9, 2020 15:31
|
|
|
So much for people switching brokers. Maybe this time they will 
|
|
#
?
Mar 9, 2020 15:34
|
|
|
Is SPY seriously gaining now? 
|
|
#
?
Mar 9, 2020 15:42
|
|
|
Pollyanna posted:Is SPY seriously gaining now? I wouldn't say gaining, but it's found some temporary equilibrium off about 5.6% for the session.
|
|
#
?
Mar 9, 2020 15:44
|
|
|
Well, I mean, the current trajectory. I bought a single SPY when it was at like 277 (this is cash I already had in my brokerage acct), and it’s at 280 now.
|
|
#
?
Mar 9, 2020 15:45
|
|
|
Pollyanna posted:Well, I mean, the current trajectory. I bought a single SPY when it was at like 277 (this is cash I already had in my brokerage acct), and it’s at 280 now. Grats on buying at a local bottom: 
|
|
#
?
Mar 9, 2020 15:52
|
|
|
Sitting here patiently awaiting another very savvy ~rate cut~
|
|
#
?
Mar 9, 2020 15:52
|
|
|
If it gets anywhere near -2%, buying more puts! Puts are close to 10% of my net worth now, bit crazy - but thats how it was supposed to work. Still down a bit overall, you need more options than you think to completely net out. I'm not sure that this strategy was the best for minimizing taxes, I'm gonna owe a lot if this keeps up and there is still an IRS next year. Hey - amazon is gonna get a ton of use when people stop wanting to go out to get groceries (and everything else). I'm already way overweight AMZN, but something to think about. As long as they can keep their logistics going (might be a challenge).
|
|
#
?
Mar 9, 2020 15:58
|
|
|
Sold a vxx call I bought for 54 dollars for 1000 this morning. Psychologically I think I might feel better completely missing out then taking these tiny positions that are up a ridiculous amount, but who knows.
|
|
#
?
Mar 9, 2020 16:03
|
|
|
If I cheer on the downfall of Bitcoin will I accrue massive amounts of bad karma?
|
|
#
?
Mar 9, 2020 16:04
|
|
|
Had to close a bunch of calls worthless from previous month. RIP Virgin Galactic calls.
|
|
#
?
Mar 9, 2020 16:08
|
|
|
Tried to close my Hertz puts....that ain't fuckin' happening apparently.
|
|
#
?
Mar 9, 2020 16:10
|
|
|
Whoa
|
|
#
?
Mar 9, 2020 16:31
|
|
|
Honestly, the price action is not that bad, particularly if you aren't involved in Energy.
|
|
#
?
Mar 9, 2020 16:36
|
|
|
Grouchio posted:If I cheer on the downfall of Bitcoin will I accrue massive amounts of bad karma? Maybe on reddit
|
|
#
?
Mar 9, 2020 16:38
|
|
|
There's actually some action in VIX 100 contracts this morning.
|
|
#
?
Mar 9, 2020 16:45
|
|
|
Robinhood apparently down again.
|
|
#
?
Mar 9, 2020 16:49
|
|
|
https://twitter.com/jules_su/status/1236830234135138305?s=19 Is this bad? It seems bad.
|
|
#
?
Mar 9, 2020 16:52
|
|
|
FWIW a good amount of the morning selloff has been bought up. Not likely to hold but at least it happened.
|
|
#
?
Mar 9, 2020 16:53
|
|
|
fougera posted:Honestly, the price action is not that bad, particularly if you aren't involved in Energy. This is partly why I don't want to be holding SPY puts right now. I don't think the entire market is as hosed as this says it is. Just certain industries are going to tank and some companies will bust but some will remain untouched and others will thrive by people staying home. Maybe I'm underestimating the amount of jobs that will be lost. Oscar Wild posted:https://twitter.com/jules_su/status/1236830234135138305?s=19 That's your price, you really think they are paying anywhere close to what they are charging for 1 barrel to buy tens of thousands?
|
|
#
?
Mar 9, 2020 16:53
|
|
|
|
| # ? Jun 6, 2024 14:41 |
|
|
I wonder how dumb it is to buy CVX on the "dip," but I'm thinking about it anyway
|
|
#
?
Mar 9, 2020 16:59
|
|
