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Ur Getting Fatter posted:Trade war was a completely different beast. Worst case scenario there was trade getting more expensive, not the world economy making GBS threads its pants and coughing up its lungs. Probably a dumb question, but how does a 3/20 put of SPY for like $290 cost $35, when $250 is like $15?
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Mar 16, 2020 14:55
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Pollyanna posted:If anything else, this crash is certainly proving gold to not be a safe haven at all.
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Mar 16, 2020 14:56
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Closed my 3/20 SPY 250 puts
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Mar 16, 2020 14:56
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Trimmed short position a little, wrote some puts expiring today against the rest...
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Mar 16, 2020 14:58
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Josh Lyman posted:Close my 3/20 SPY 250 puts Closed mine too for a cool 150% gain. I don't know what to do with this market, probably nothing. Maybe Trump will inspire me to buy more puts.
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Mar 16, 2020 14:58
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So are everyone's 401Ks worthless now? My dad was looking to retire in 10 years.
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Mar 16, 2020 14:58
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My feeling is more puts in the near future. They keep finding new cans of gasoline in the WH to add to the dumpster fire.Grouchio posted:So are everyone's 401Ks worthless now? My dad was looking to retire in 10 years. He'll be fine if he's ten years out.
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Mar 16, 2020 14:58
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Grouchio posted:So are everyone's 401Ks worthless now? My dad was looking to retire in 10 years. Wouldn't worry about him, there. If anything tell him to shift from adding bonds to adding stocks in the near future as prices plummet.
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Mar 16, 2020 14:59
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Open was bloody sold the puts gonna let the maker creep up a little here.
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Mar 16, 2020 15:00
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Grouchio posted:So are everyone's 401Ks worthless now? My dad was looking to retire in 10 years. 10 years is a long time. Enough to recover, enough for another crash.
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Mar 16, 2020 15:01
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Jack Daniels posted:opened new BRZU position drat shoulda picked JNUG instead for the crazy day gamble... sweet move 
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Mar 16, 2020 15:03
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Sold my CZR $10 june puts. About 300% return and that puts me only 17% down in the fun account Ytd. Down big in MO and T but holding those forever.
Oscar Wild fucked around with this message at 15:09 on Mar 16, 2020 |
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Mar 16, 2020 15:05
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sold half of my insane friday evening 3/20 2450 puts, going to let the house money ride for a day or two and see how far this baby falls
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Mar 16, 2020 15:06
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Trading puts on Trump's little pump and dump made my entire portfolio only 1% down after everything's said and done. Not bad, orange man, not bad!
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Mar 16, 2020 15:06
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So I'm very new to this. I made so money off the puts I bought Friday. What does one do when the market is already down? Buy more puts? Just hold until a pump and then buy more puts?
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Mar 16, 2020 15:07
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Megasabin posted:Just hold until a pump and then buy more puts? Well, if you have no other theories, then yes. I'm guessing we'll see another mini pump and then back into red this week. Maybe two of them.
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Mar 16, 2020 15:09
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Megasabin posted:So I'm very new to this. I made so money off the puts I bought Friday. What does one do when the market is already down? Buy more puts? Just hold until a pump and then buy more puts? Cash is never a bad place to be when VIX is at 70 and we just lost 10% in a day. Will we lose more, will we bounce, time will tell. I personally think that it's gonna be a flat day (well, flat from now on) because there's too much money to be made based on Trump talks.
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Mar 16, 2020 15:09
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UVXY with just ridiculous returns today.
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Mar 16, 2020 15:10
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GramCracker posted:Probably a dumb question, but how does a 3/20 put of SPY for like $290 cost $35, when $250 is like $15? No liquidity, you probably can’t actually get the $290 one unless someone is asleep at the wheel (which could definitely be the case!)
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Mar 16, 2020 15:11
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Pollyanna posted:10 years is a long time. Enough to recover, enough for another crash. For real. Is 12 years since 2008.
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Mar 16, 2020 15:11
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Gonna buy some UAL calls 20March, Trump will definitely talk about bailing out or helping airlines today.
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Mar 16, 2020 15:15
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Looks like we’ve settle into down 9.5-10% on the S&P for the moment. And just in time for a 2 hour meeting.
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Mar 16, 2020 15:16
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Tokyo Sex Whale posted:No liquidity, you probably can’t actually get the $290 one unless someone is asleep at the wheel (which could definitely be the case!) That makes sense, thanks for clarifying! Been a wild ride the past three weeks. Started with $375 at the end of Feb and I'm up 1400%. I've closed all my puts except one (TLT). I cannot imagine the stress some of the r/WSB guys have from playing $25k on one move.
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Mar 16, 2020 15:17
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Welp I should've sold my puts at open, was up $7k. Now up $4k. Guess I'll hold onto them for tomorrow.
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Mar 16, 2020 15:18
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GramCracker posted:That makes sense, thanks for clarifying! What you identify as stress, a lot of gamblers equate to ecstasy. And that's what WSB (and most of us here) are doing. Don't think they're stronger or something, they're far more scummy than that. They're full on adrenaline junkies but instead of skydiving they're betting student loans on meme stocks.
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Mar 16, 2020 15:20
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My guess on how this will go: - Trump will overpromise as gently caress today - Market booms - In 2 3 days the desperation sets in as people realize what he said is impractical and the Rona will stop the world for 2 months - Market goes down even more E: I've seen people wonder if he's stopping all flight traffic in the announcement - I'll put some money on how he isn't. He'd do it after market close if that was the announcement orange sky fucked around with this message at 15:24 on Mar 16, 2020 |
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Mar 16, 2020 15:21
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Trump is synonymous with both pump and dump. I believe the exact same thing will happen. Also, he'll shake some CEO's hands who will get a 2% bump on their stock that day, then it's down 4% the next day or whatever.
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Mar 16, 2020 15:22
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orange sky posted:My guess on how this will go: I think most people now realize this poo poo is stopping the world for 2 months. I just want to laugh as hard as I did Friday at another face ripping rally. Laughs and toliet paper are all I have left.
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Mar 16, 2020 15:27
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I've been watching all this sitting on cash. In January I pulled a huge stack of my accumulated non-emergency/non-retirement savings out of equities for a real estate investment that I backed out of. I kept it in cash (literally in a joint FDIC savings account) while I figured out what to do next since I didn't want to buy back in at the top of a market...and then this poo poo happened. I feel like Warren Buffet right now - I don't mean smart, I mean lucky. I already have a stocked rainy-day fund stashed away and I'm not loving with my retirement portfolio which is already balanced anyway. Certainly not going to dump all this back in the market - I feel like we're a ways off from the bottom yet - but I feel like there's some fun to be had with a little of it in play. For grins, what would some of you do?
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Mar 16, 2020 15:32
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Hit Man posted:I think most people now realize this poo poo is stopping the world for 2 months. I just want to laugh as hard as I did Friday at another face ripping rally. Laughs and toliet paper are all I have left. Counterpoint: https://twitter.com/SportsPundette/status/1239054374791512064?s=20 https://twitter.com/BarryWh45171333/status/1239391476720812032?s=20
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Mar 16, 2020 15:32
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Ixian posted:I've been watching all this sitting on cash. In January I pulled a huge stack of my accumulated non-emergency/non-retirement savings out of equities for a real estate investment that I backed out of. I kept it in cash (literally in a joint FDIC savings account) while I figured out what to do next since I didn't want to buy back in at the top of a market...and then this poo poo happened. You want a Red/Black bet? As I mentioned earlier I'm betting in announced stimulus/tax breaks/whatever for airlines so bought 20March UAL calls.
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Mar 16, 2020 15:34
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Ixian posted:For grins, what would some of you do? Look for blue chip dividend stocks that have dropped faster than the general market.
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Mar 16, 2020 15:35
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Didn’t Trump’s Friday press conference start 30 minutes late? This one might not even start til market close.
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Mar 16, 2020 15:39
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LLCoolJD posted:Look for blue chip dividend stocks that have dropped faster than the general market. Or just blue chip dividends generally. Right now I moved a bunch of money and won't be able to access those funds for 5 days and I am VERY upset about it. Can't buy stonk!
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Mar 16, 2020 15:39
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Kevyn posted:Didn’t his Friday press conference start 30 minutes late? This one might not even start til market close. Definitely going after market close.
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Mar 16, 2020 15:40
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LLCoolJD posted:Look for blue chip dividend stocks that have dropped faster than the general market. Good advice, thanks. orange sky posted:You want a Red/Black bet? As I mentioned earlier I'm betting in announced stimulus/tax breaks/whatever for airlines so bought 20March UAL calls. Stimulus or not that's a bold move being bullish on airlines this week. What are you buying them at?
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Mar 16, 2020 15:43
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Ixian posted:Good advice, thanks. 2.90. Currently at 3.73. orange sky fucked around with this message at 15:47 on Mar 16, 2020 |
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Mar 16, 2020 15:44
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LLCoolJD posted:Look for blue chip dividend stocks that have dropped faster than the general market. I’d say pick the ones that dropped first and are slowing down. As far as I can tell this is only MMM. Still if you’re buying for the long term it’s better to be late than early.
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Mar 16, 2020 15:44
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I'm sorry if you're looking for long term low risk stuff ignore me, you said "have fun" so I put my wsb hat on
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Mar 16, 2020 15:45
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GramCracker posted:Probably a dumb question, but how does a 3/20 put of SPY for like $290 cost $35, when $250 is like $15? Just saw this. Maybe I'm missing something but $290 is much deeper IN the money than $250 so naturally it would be more expensive to buy. Did you mean to say 3/20 calls?
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Mar 16, 2020 15:49
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