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Ford just straight up cut everyone's pay. GM plans to repay it to employees w/ interest (6%!) later this year or early next. Assuming they're alive. But it's OK. Number went up, credit rating A-OK.
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Mar 26, 2020 21:46
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WampaLord posted:https://twitter.com/jbenton/status/1243251916047634435 Market rational and efficient  .
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Mar 26, 2020 21:50
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pmchem posted:could you please elaborate and explain how someone intends to profit from those? even if the market moves, they have to find a buyer for those options or hold to worthless expiry. my understanding is that low volume options should generally be avoided because you can get stuck holding the bag. i think its a wsb tactic to buy extremely cheap options out of the money and then sell them on for a small profit every time the underlying market moves in your favour - eg buying weekly 2900 calls on Monday morning banking on a spike and selling them this afternoon. As with everything it works until it doesn't. RH (I believe) especially runs on wide spreads rather than commission so as long as you cover the 6 point gap it's all profit. Do NOT do this - you will lose all your money the one time the market moves against you
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Mar 26, 2020 22:10
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Well we've still got all these nukes soooo
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Mar 26, 2020 22:16
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Vox Nihili posted:Well we've still got all these nukes soooo calls on $NUKE
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Mar 26, 2020 22:22
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pmchem posted:could you please elaborate and explain how someone intends to profit from those? even if the market moves, they have to find a buyer for those options or hold to worthless expiry. my understanding is that low volume options should generally be avoided because you can get stuck holding the bag. The real play is likely against a volatility etf. They buy these awful options to be gamma neutral. Google gamma neutral options strategy for more info. The jist of it is that you're offsetting theta with a matching delta to get gamma as close to 0. Options are complicated
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Mar 26, 2020 22:27
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okay, I need help. I've put together a twitter list for stock/investing breaking news and market analysis. Here's what I've got, sorry it's a bunch of links but there's no easy way to export a twitter list (I could screenshot it in parts but they you'd all have to type the URLs...). Which good accounts am I missing? Which items on the list are useless (and why)? https://twitter.com/Barton_options https://twitter.com/Benzinga https://twitter.com/CNBC https://twitter.com/fxmacro https://twitter.com/HedgeyeDDale https://twitter.com/howardlindzon https://twitter.com/KeithMcCullough https://twitter.com/markets https://twitter.com/MarketWatch https://twitter.com/michaelbatnick https://twitter.com/NorthmanTrader https://twitter.com/nytimesbusiness https://twitter.com/RaoulGMI https://twitter.com/ReformedBroker https://twitter.com/ritholtz https://twitter.com/Stocktwits https://twitter.com/VolatilityQ https://twitter.com/WSJmarkets thanks for any comments
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Mar 26, 2020 22:30
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Sepist posted:The real play is likely against a volatility etf. They buy these awful options to be gamma neutral. Google gamma neutral options strategy for more info. The jist of it is that you're offsetting theta with a matching delta to get gamma as close to 0. ok, interesting. I am definitely not touching volatility bets or extremely OTM options, but I like to hear about why things are done.
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Mar 26, 2020 22:31
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I'm not being crazy or stupid in shorting SPY, am I? I'm playing with relatively small amounts of money so I can afford to lose it all if it came to that, but I'm really starting to question my sanity here.
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Mar 26, 2020 22:32
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Steve Carrell needs to make a visit to find out what's going on.
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Mar 26, 2020 22:33
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Freezer posted:I'm not being crazy or stupid in shorting SPY, am I? Stock investment seem to make sure that everyone is either very smart or very stupid seemingly at random, except the buy-and-hold types. The only true way to know if you’re dumb or not is whether or not you’re okay with losing the money and it seems you’ve made your peace so you’re definitively not stupid. There are stupid bets, of course, like buying and holding way OTM options on meme stocks because dudes on the internet said it was a good investment. But even those aren’t stupid so long as you’re betting money you don’t mind losing on them.
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Mar 26, 2020 22:41
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Doccykins posted:i think its a wsb tactic to buy extremely cheap options out of the money and then sell them on for a small profit every time the underlying market moves in your favour - eg buying weekly 2900 calls on Monday morning banking on a spike and selling them this afternoon. As with everything it works until it doesn't. RH (I believe) especially runs on wide spreads rather than commission so as long as you cover the 6 point gap it's all profit. Ah, so they figured the problem with penny stock trading was that the instruments weren't complicated enough?
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Mar 26, 2020 22:41
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Freezer posted:I'm not being crazy or stupid in shorting SPY, am I? This does seem to have early Feb vibes where number go up even though the situation is obviously getting worse. I'd be weird to have the market recover before the daily new case count in the US hasn't even peaked yet. But of course who the hell can know.
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Mar 26, 2020 22:41
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Rime posted:The market has priced this all in, though. lmao every company is prepping for a recession, everyone knows it's coming, and the 500 was up 6.5% on the day
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Mar 26, 2020 22:47
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pmchem posted:thanks for any comments Just a couple off the top. 1. Ditch any account that retweets more than they tweet. You want ideas from the source, not from someone else's source. If they're retweeting two or three sources a lot, *those* are the ones you should be following. I took a quick run through your list and there's a few that's just a solid wall of retweets. Avoid. 2. Focus on people giving securities (or at least market in general) advice. Avoid people who load up their feed with a hundred coronavirus tweets. Again, you're looking for original information. Maybe after this all dies down you can circle back and see if they're talking about something they have relevant expertise in. 3. The CNBC feed (and most general business media feeds) have a lot of poo poo in it. @CNBCNow seems to have a much better filter on what's actually useful information, just for one example. 4. Goldbugs can gently caress right off.
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Mar 26, 2020 22:54
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stuck working today, opened up a grip of uso 5 leaps.
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Mar 26, 2020 22:58
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Every company is cutting their opex to 2008 levels to get ready for the recession. This means labor. Corporations are retreating into their shell with only highly compensated executives manning the wheel until they deem it safe to start hiring at the same or lower wages than before.
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Mar 26, 2020 22:58
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pmchem posted:could you please elaborate and explain how someone intends to profit from those? even if the market moves, they have to find a buyer for those options or hold to worthless expiry. my understanding is that low volume options should generally be avoided because you can get stuck holding the bag. spy has volume on most every dumbass strike so its the best place to do it
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Mar 26, 2020 22:59
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This has broken me lol It was only a bit of play money but if you'd told me a week ago that the announcement of 3.3 million unemployed people would see the SPY jump by 7% I'd have said you were mad, but here we are. Presumably there's going to be another big, bad number released same time next week and maybe the unemployment agencies will have caught up with some of the backlog by then, and there's also the employment figures due out on the 3rd but now I'm not sure if any further bad news is going to have any impact or if it just gets drowned out by the money printer going brrr. I'm torn between selling now while I'm only 6% down and grabbing some quality stocks to hold onto, or waiting another week in the hope that bad economic figures and an increasing kill count will dampen sentiment a bit.
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Mar 26, 2020 23:02
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https://nypost.com/2020/03/26/most-photographed-wall-street-trader-peter-tuchman-has-coronavirus/amp/ Where will we get our CNBC headline images from if he doesn't make it? 
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Mar 26, 2020 23:02
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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. Bored As Fuck fucked around with this message at 23:08 on Mar 26, 2020 |
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Mar 26, 2020 23:06
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Woodchip posted:stuck working today, opened up a grip of uso 5 leaps. I'm holding 850 shares @ $4.75. Literally can't go tits up few weeks from now: *narrator* he was wrong
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Mar 26, 2020 23:07
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Bored As gently caress posted:This market / this situarion so absurd it's loving laughable. Gotta laugh about it or you'll go crazy. Yeah, I put 2K of money I can afford to gamble away into this, and my current portfolio is worth like 900 dollars right now. poo poo just doesn't make sense at all, or so much bad news is priced in already, any news at all makes a stock go up against common sense Like I mentioned earlier $CAKE can't afford to pay rent, stock jumps up 9% for some reason. $RCL pushes back cruising another month at the cost of probably 700M in revenue, stock jumps. DIS is up from 85ish to 105 in the last couple of days for NO logical reason. Either I missed the boat on the downturn and now any news is good (which is fine by me), or I just live in bizzaro land right now.
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Mar 26, 2020 23:14
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I’ve been going through the stimulus bill and there are so many drafting errors. For example, the vast majority of the stimulus money ($454 billion) is in subsection (b)(4) of this provision, but almost all of the requirements for loans apply only to sections (b)(1) to (3). It’s either a mistake or hilariously cynical. Edit: the bright side is that I wasn’t able to check the market all day because I was so engrossed in reading the bill. +6% on the day—that’s, uh, not what I expected.
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Mar 26, 2020 23:16
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Indication: Bullish reversal Reliability: High Description: A very rare pattern characterized by a downside "œDoji" gap which is then followed by an upside gap. The shadows on the "œDoji" must completely gap below the shadows of the first and third candlesticks.
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Mar 26, 2020 23:21
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Indication: Bullish reversal Reliability: High Description: During a downtrend, the market strengthens the bearish trend with a long black candlestick. The second candlestick trades within a small range and closes at or near its open. This scenario generally shows the potential for a rally, as many positions have been changed. Confirmation of the trend reversal is given by the white third candlestick. The Morning Doji Star is a fully realized bullish Doji Star pattern. It is important reversal signal.
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Mar 26, 2020 23:22
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May God bless America 
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Mar 26, 2020 23:22
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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.
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Mar 26, 2020 23:24
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dougdrums posted:May God bless America Well they aren't going to default and there is not much concern about inflation so  By the way, I always love the talk in this thread when number goes up while everyone is betting for it to go down. Everyone gets all cynical, starts posting negative news articles, and makes satirical comments against capitalism. Cheesemaster200 fucked around with this message at 23:29 on Mar 26, 2020 |
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Mar 26, 2020 23:25
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Cheesemaster200 posted:Well they aren't going to default and there is not much concern about inflation so
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Mar 26, 2020 23:28
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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. 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.
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Mar 26, 2020 23:31
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This is why I'm not yet on the bull train: https://twitter.com/TheChartReport/status/1243289299677839366
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Mar 26, 2020 23:32
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saintonan posted:This is why I'm not yet on the bull train: Because you believe in astrology?
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Mar 26, 2020 23:42
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gay picnic defence posted:It was only a bit of play money but if you'd told me a week ago that the announcement of 3.3 million unemployed people would see the SPY jump by 7% I'd have said you were mad, but here we are. Today's action doesn't surprise me at all. Have you guys been paying attention to the market the last 4 years?
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Mar 26, 2020 23:44
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dougdrums posted:Ya of course, our national moto is fygm
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Mar 26, 2020 23:45
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saintonan posted:This is why I'm not yet on the bull train: I know nothing about nothing, but why only 3 years shown?
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Mar 26, 2020 23:48
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greasyhands posted:Because you believe in astrology? Only if it agrees with my preconceived notions
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Mar 26, 2020 23:50
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Agronox posted:Only if it agrees with my preconceived notions It agrees with my confirmation bias and my current positions. It's GOT to be true.
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Mar 26, 2020 23:51
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Freezer posted:I'm not being crazy or stupid in shorting SPY, am I? Buying options (whether puts or calls) is almost always crazy/stupid but hey, we can all be crazy and stupid together as long as we aren't putting our retirement accounts on the line.
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Mar 26, 2020 23:54
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