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Baddog posted:Ouch, I'm way glad I bought back those 120 strike puts last week. People getting worried the vaccines not going to work against the new mutation? Seems to me it'll be allright, maybe at worse a little drop in efficacy. *Might* be a good time to buy in? I hate feeling like someone knows something I don't though. I'm more of a bio nerd than a stock guy and from what I can tell the new mutation isn't of any concern for vaccines. Basically everyone is terrified of a mutation that will neuter the vaccines so when that happens it will be huge news and not something that flies under the radar, so take that how you may with trades. I think it might be more about PFE showing up in a big way with delivery promises (100mil doses by June).
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Dec 23, 2020 17:49
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UnfurledSails posted:Today I got some CCL @ 12.5, AMD @ 77.9, and AAPL @ 109.9 (just now), $10k each. This would have made about 30% profit...had I not sold all on November. But I sold to buy 2k shares of PLTR @ 14, so it's still been a good 2 months. I won't sell these that easily and hope to keep them long term. So far all I have are those shares and 25 contracts of TRIT 2/19 12.5 calls I got a couple days ago when the stock plummeted. They are up like %60 but I think I'll risk keeping them a while longer to see if it runs up more. All in all a garbage start to the year saved by applying lessons learned.
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Dec 23, 2020 19:28
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Deviant posted:What are y'all thinking for your GIK price target xl pump is at $33 now  i yolod gik @ $11 and pentupled my yolo this morning with feb 19 calls and we're going to the moon baby greed is good again awoouu (wolf howl)
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Dec 23, 2020 20:35
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FIII popin off again my NNO at 90% gain, going to take some profits but i think it could go nuts tbh if the "Major Global Automotive Company" is VW or TSLA
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Dec 23, 2020 20:50
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thats not candy posted:xl pump is at $33 now I wish I went with some options but I’m still up 13% in under 2 weeks so 
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Dec 23, 2020 20:54
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GIK is up 30% today and FIII 15% and I'm suddenly not sure if I should take profits. Especially at 30%. Crap.
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Dec 23, 2020 21:23
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im going to take some FIII profits for sure edit: sold $10.86 -> $14.31 and left the gain $$$ numberoneposter fucked around with this message at 21:36 on Dec 23, 2020 |
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Dec 23, 2020 21:25
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I ended up closing out GIK at +4800 just after it started fading. Too much profit on the table, and the spike wasn't based on concrete news in the first place. I rolled it all into FUSE/GSAH/AACQ if anyone else is looking for near-NAV SPACs with a good pedigree but without a merger target announcement.
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Dec 23, 2020 22:48
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So in the past month I've made back almost 24% (pre-tax, about 17% after taxes) of my $4700 basis in PLTR by selling calls with strikes in the $33-40 range. Really wish I hadn't gotten called away from my desk to go to a meeting the morning of 11/27 - only one of my four orders executed because the price started dropping and by the time I got back to the computer I had missed out on several hundred dollars.
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Dec 24, 2020 00:16
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Has anyone transferred accounts from one brokerage to another? After some earlier issues with RH and the recent removal of the ability to purchase REITs, I decided to move my account to Ally Invest since I already have an Ally savings account. To be honest, I also wanted to stop obsessing over my brokerage account so much, so I figured I'd go with something that I'm not keeping a constant eye on, so I don't mind if it's not the most polished brokerage. Although, I may change my mind again if I don't like Ally. I initially requested the transfer last week, but they said that I had options ending last Friday and that I couldn't transfer if any options would expire within the 5-7 business day transfer period. So, I re-started the transfer this monday. I got the notification late Monday that RH received the ACATS transfer request, that all pending dividends and fractional shares will be liquidated and sent to the new brokerage. Today, I logged in and I still don't see anything in Ally, but my RH account has decreased by about 2/3. I had probably 8-10 stocks in my RH portfolio. There are now 3 stocks left in RH, which comprise the remaining 1/3 of the account value. I don't know why it's only these 3, nor when the others will show up in Ally. I'm relatively new to brokerages and never transferred them before. Even though I know it'll likely work out just fine, seeing $20k+ missing is worrisome.
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Dec 24, 2020 13:43
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That sounds totally normal. I've done ACATS between a couple brokerages and there's always a delay of a day or two on the receiving end. It's going to feel longer due to the holiday and the weekend but don't freak out.
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Dec 24, 2020 13:50
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I transfer between my RH and Ally savings/invest pretty often. Sometimes the money doubles up and sometimes it hides. Only does it for a couple days until the transfer is 100% done.
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Dec 24, 2020 15:41
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UnfurledSails posted:So far all I have are those shares and 25 contracts of TRIT 2/19 12.5 calls I got a couple days ago when the stock plummeted. They are up like %60 but I think I'll risk keeping them a while longer to see if it runs up more. Sold soon after the open at 4.10, up 175%. drat. Never had an option hit my "sell no matter what you dumbass" limit order before.
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Dec 24, 2020 16:24
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Tyro posted:So in the past month I've made back almost 24% (pre-tax, about 17% after taxes) of my $4700 basis in PLTR by selling calls with strikes in the $33-40 range. Are you doing so on each weekly, or if not how often are you rotating into the next option chain? I've done some investigation as well as testing on this and seems like a good approach particularly if you can pay close enough attention to jump in and close out in case it starts to take off on you.
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Dec 24, 2020 16:24
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Sand Monster posted:Are you doing so on each weekly, or if not how often are you rotating into the next option chain? I've done about half weeklies and half two weeks out. I started out just keeping an eye on them and letting them expire, but I've also been buying back a few at about the 10-12 day mark to roll into another 2 week contract.
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Dec 24, 2020 16:41
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Oooh, up 15% on GHIV. That has more potential though, yes? Or is $13.XX time to get out of that?
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Dec 24, 2020 17:16
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Deviant posted:Oooh, up 15% on GHIV. That has more potential though, yes? Or is $13.XX time to get out of that? Merger isn't for another month, I'm selling right before that. Still plenty of room to run imo. It's been a heck of a December for SPACs!
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Dec 24, 2020 18:19
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Hey guys. Shorting NKLA felt like easy money. Where else can we find easy money like that? Or maybe that's selection bias. Just follow Hindenberg etc? Looks for bullshit-sounding IPOs and toxic management?
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Dec 24, 2020 19:38
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Well, Citron trashed Doordash, but options are pricey.
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Dec 24, 2020 20:05
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Dominoes posted:Hey guys. Shorting NKLA felt like easy money. Where else can we find easy money like that? Or maybe that's selection bias. Just follow Hindenberg etc? Looks for bullshit-sounding IPOs and toxic management? If I had balls I'd go after carvana.
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Dec 24, 2020 20:17
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Unlike NKLA, they have revunue, but that sounds like a good short.
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Dec 24, 2020 20:33
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Foma posted:If I had balls I'd go after carvana. Out of curiosity, why's that? I'm a big car enthusiast myself so I'm naturally skeptical of that business model and can see issues with it, but would be curious to hear your thoughts. GramCracker fucked around with this message at 21:10 on Dec 24, 2020 |
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Dec 24, 2020 21:04
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AMC is mega-cheap right now and I think they could bounce back big when things get 'BACK TO NORMAL'. Tell me I'm smart to buy a whole ton of shares and just see what happens over the next few years.
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Dec 24, 2020 21:27
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Avian Pneumonia posted:AMC is mega-cheap right now and I think they could bounce back big when things get 'BACK TO NORMAL'. Tell me I'm smart to buy a whole ton of shares and just see what happens over the next few years. I think people are getting used to not going to theaters, a lot of home theater equipment got bought this year... and perhaps more importantly the companies that make movies are getting used to distributing them through other channels. Theaters may have lost that exclusive period for good. I wouldn't risk toooo much on AMC. Honestly I feel like cruise lines might be a better rebound bet. I've been the most negative guy this whole time, but I'm sitting here eyeballing this offer I got from NCL, thinking about booking something for next fall.
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Dec 24, 2020 21:37
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Your time horizon needs to be really long since it appears that most major film releases in 2021 will go simultaneously to theaters and to the relevant streaming services. This will absolutely crush movie theater grosses in 2021. Beyond that, you have to count on a more-or-less return to a normal psyche by 2022, and you have to hope that the simultaneous release strategy doesn't become permanent. If both of those happen, movie theater chains that don't go bankrupt in the interim might be good bounceback candidates. I think it's way too soon to even assign percentage chances of each outcome.
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Dec 24, 2020 21:40
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Is there a typical pattern to what happens to share prices when a company IPOs? I'm a minority shareholder in a UK company, and it's public knowledge that they're gearing up for an IPO, possibly next year. I know that it's not easy to judge the IPO value based on the current value of the shares, but if I was looking to sell at the IPO, is there a best time to do it? Honestly I'll probably hold onto them long term (5,367% increase in 10 years so far), but it'd be a shame to miss an opportunity.
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Dec 24, 2020 23:47
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I don't know a ton so I'll defer to others but since you mentioned the UK, do you know if they will be going public on the London exchange or coming over to the NYSE? It's possible different exchanges behave differently in terms of how IPOs fare (or they don't matter at all - someone teach me).
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Dec 25, 2020 00:19
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cr0y posted:Similar but 369 2/15 At least you have a lower strike price and more time to expiration! Foma posted:If I had balls I'd go after carvana. Long term I'm bearish on their model of "incinerate VC money by overpaying for used cars without doing any due diligence," but shorting anything "tech" in this market seems too risky for me. They have other things that set off alarm bells in my head too but that's more of a gut feeling than something I would argue about over the internet. Dominoes posted:Hey guys. Shorting NKLA felt like easy money. Where else can we find easy money like that? Or maybe that's selection bias. Just follow Hindenberg etc? Looks for bullshit-sounding IPOs and toxic management? GSX is the current fraud story I keep on hearing about, but remember how long it took Wirecard to come down and "the market can stay irrational longer than you can stay solvent" really holds true. Especially if you're dealing with a foreign company, be it German or Chinese, there are always nationalistic reasons these companies could be saved and/or covered up. Not that we don't have the same thing in the US (TSLA). I'm debating gambling on BABA going down, but I don't trust Western news sources to have an accurate picture of what's "really" happening right now, and I haven't spent the time to find people who may have a better idea. Obviously it's already down a fair amount, I'm just wondering how far the Chinese government is willing to push it. MomJeans420 fucked around with this message at 01:59 on Dec 25, 2020 |
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Dec 25, 2020 01:52
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Avian Pneumonia posted:AMC is mega-cheap right now and I think they could bounce back big when things get 'BACK TO NORMAL'. Tell me I'm smart to buy a whole ton of shares and just see what happens over the next few years. Movie theaters were a dying industry before covid happened. It's not the worst idea though. Movies would probably bounce back faster than say, cruises. On the same "back to normal" outlook... are there any stocks for buffets? lol.
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Dec 25, 2020 03:25
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spatula posted:On the same "back to normal" outlook... are there any stocks for buffets? lol. CBRL
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Dec 25, 2020 04:27
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spatula posted:On the same "back to normal" outlook... are there any stocks for buffets? lol.
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Dec 25, 2020 05:06
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tangy yet delightful posted:I don't know a ton so I'll defer to others but since you mentioned the UK, do you know if they will be going public on the London exchange or coming over to the NYSE? It's possible different exchanges behave differently in terms of how IPOs fare (or they don't matter at all - someone teach me). I think they'll be on the LSE.
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Dec 25, 2020 08:35
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spatula posted:Movie theaters were a dying industry before covid happened. It's not the worst idea though. Movies would probably bounce back faster than say, cruises. Yeah I don’t know about movie theaters. Their moats are deteriorating - if companies start dual releasing what’s left? Why go to a theater when plenty of people have pretty good entertainment setups at home now? I think demand to GO OUT is going to be high in 2021. Vacations, trips, concert tickets, things like that are going to be in high demand but I don’t think going to the movies is in the same bucket. If I’m going out I don’t want to go do the same poo poo I’ve been stuck doing for a year.
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Dec 25, 2020 17:00
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SkunkDuster posted:I bought some Macromedia stock in 2001 and it was converted to Adobe stock in 2005 when Adobe bought out Macromedia. Aside from the initial purchase, I haven't done anything with that stock until I sold all of it a few months ago. My E*Trade account is showing that as a short term gain. Why is that? Got a response from E*Trade. "It's likely the shares are so old there is not recorded basis. In these cases the system defaults the record to treat these as Short Term gains for tracking purposes, since it is unclear when and how much the shares were purchased for. On the tax form, they will appear as "Uncovered" shares, meaning you will provide the IRS your purchase price for the shares." I have no idea what I paid for them 20 years ago. The only concrete number I can go off is when Adobe bought out MACR in 2005.
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Dec 25, 2020 18:42
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SkunkDuster posted:Got a response from E*Trade. Sometimes the cost base will be reset when there’s a takeover, you should be able to find something online that details the tax effects of this particular corporate action. If the new cost base is a % of your original cost base then you might have to make do with taking the average price of the period you think you bought the original shares. I’m in a completely different jurisdiction but our taxmen are pretty understanding when you’ve got some dementia riddled old guy who bought shares in the early 90s, has no records or recollection of the purchase and you’re forced to make an educated guess at what the cost base might be.
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Dec 26, 2020 04:37
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Question about selling stocks and taxes. Let's say I have $1000 and I invest it in a stock. After one month the stock price doubles and I sell it all for $2000, for a $1000 profit. It would be a short-term gain so I would pay regular income tax on it, and let's say in my tax bracket I pay 50% tax on it. So I'm left with $1500. Then I immediately buy the same stock again with my $1500, and after another month the stock price doubles again, and I sell it all for $3000. That's a $1500 profit, so after taxes I'm left with $1500 + .5*$1500 = $2250. However, if I had never sold the stock after one month and just held it for two months, I would have sold for $4000 after two months, for a $3000 profit. $4000 - .5*$3000 = $2500, so I'm left with more money than in the previous scenario. Are my calculations correct? Is selling often less tax efficient?
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Dec 26, 2020 20:05
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human garbage bag posted:Question about selling stocks and taxes. Look up wash sales for timing. Depending on when you rebuy it will determine your cost basis. Generally short term trading is much less efficient from a gains perspective.
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Dec 26, 2020 20:14
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You only pay tax on the profit not the original 1000. But yeah you're incentiviced to hold stocks longer insteead of buying and selling Edit: woops misread, looks like the math is fine. yeah wash sales for stocks that you sell at a loss are more relevant.
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Dec 26, 2020 20:15
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Oscar Wild posted:Look up wash sales for timing. Depending on when you rebuy it will determine your cost basis. Generally short term trading is much less efficient from a gains perspective. Just curious, why does a wash sale apply in this person's example? He didn't sell for a loss in any of the hypothetical scenarios.
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Dec 26, 2020 21:05
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If I have only lost money in total and only on options, can I just ignore it on my taxes and pretend it never happened
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Dec 26, 2020 21:37
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