Originally Posted by Tellafriend
Sold my options held the stock. It was way too much $ way too fast. May dip my toe back in tomorrow if it doesn’t gap up. Jpm came to their defense today.
already pumped and dumped again this morning.
I have a 313 SPY put position that expires Monday 6/22 that is obviously doing well right now. So the million dollar question is whether I let it ride through the weekend.
Thoughts?
jesus was a black man from space.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
I'll ask a (hopefully) easier question. When USO plummeted down I bought some USO calls for January 2021, that are at a small profit right now (breakeven is at ~$27). Anyone have any thoughts whether I should just close the position now, or let it ride out?
Anyone have any thoughts what price USO is going to be at by next January?
Last edited by ErickAA; 06-19-2020 at 10:34 AM.
I am so upset about letting most of the profit slip away I am just going to let it ride. At this point I fully expect some BS pump and dump fake vaccine news to cause the market to skyrocket and lose everything, but I am resigned to my fate.
CLOSE IT CLOSE IT CLOSE IT!!!!
those ETFs are garbage...you should read the USO prospectus...I believe that what they do is roll from front to second month contracts and keep the cycle going...
so in a really simple world lets say they held 1 contract at $100 per barrel in the front month and the second month contract was at $200...then when the time came to roll from front to second when the front futures expired they would only be able to by 0.5 contracts...and on and on and on and on...this negative roll yield keeps fucking with the price of the ETF (making it go lower), that's why it will never truly mirror the price of oil in the long-term...on a day-to-day basis I think it does a decent job, but as buy and hold it's AIDS...
I looked at this with the VXX...it's only great to "own" it for "long-term" when the back end is trading at a discount to the front end...
feel free to double check me on my factoids above, but if memory serves im at least on the right track...
It did a reverse split, so the numbers dont really match up, but using the current number system it was consistently trading ~$90-100 for 4 years before the crash. So assuming everything eventually goes back to normal does it never go back to those levels and it is just stuck ~$25-30 forever???CLOSE IT CLOSE IT CLOSE IT!!!!
those ETFs are garbage...you should read the USO prospectus...I believe that what they do is roll from front to second month contracts and keep the cycle going...
so in a really simple world lets say they held 1 contract at $100 per barrel in the front month and the second month contract was at $200...then when the time came to roll from front to second when the front futures expired they would only be able to by 0.5 contracts...and on and on and on and on...this negative roll yield keeps fucking with the price of the ETF (making it go lower), that's why it will never truly mirror the price of oil in the long-term...on a day-to-day basis I think it does a decent job, but as buy and hold it's AIDS...
I looked at this with the VXX...it's only great to "own" it for "long-term" when the back end is trading at a discount to the front end...
feel free to double check me on my factoids above, but if memory serves im at least on the right track...
It did a reverse split, so the numbers dont really match up, but using the current number system it was consistently trading ~$90-100 for 4 years before the crash. So assuming everything eventually goes back to normal does it never go back to those levels and it is just stuck ~$25-30 forever???
think about why it had to do a reverse split...because the negative roll yield (rollling from cheap to expensive over and over and over and over again) kept kicking it in the ass and taking the price lower and lower and lower and lower...
google USO and negative roll yield and I think you will find the answer that this thing is only a trading vehicle and not an investment...
There is no fucking way the story going around about the 20 year old (Who committed suicide) on Robin Hood having a 700k debt can be true. There has to be something where the 700k paper loss was covered by shares that hadn’t cleared yet.
If that’s true someone should have told the kid when you owe 70k the bank owns you, when you owe 700k you own the bank.
I know they had massive issues with this last year but I thought it was patched up. I just can’t see it. Too much of a liability for robin hood if that is the case
im hearing a lot of people expressing similar sentiments but supposedly it was a glitch in their settlement system.
but honestly no one really seems to know what the fuck actually happened.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
Tine is also very fat
gasp
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
Bro it's like 11 billion o clock on the least coast take ur trazodone and goto bed
Here you are analyzing the market while real savants are doing this
https://vm.tiktok.com/JJGpLfq/
Damn. Bought some DK puts at 42 this morning and sold it at 39.5, and it just keeps dropping. Looks like left a lot on the table.
Bummer.
Collect your prize Tellafriend.
Thank you so much for putting Wynn back on our radar. Got puts @ 91 last week. Think it was day after your post on a positive retracement.
Feels like you prolly had 95. $83 with a cinder block tied to its ankles
Advantage play.
CYDY that OTC stock I posted a while back traded up to $4.17 today. I posted at $2.80
So long as we’re all sucking our own dongs in this thread now I’ll say PTON is still god. Hit 55 today. Step you still long?
Nah used the few percentage points I made from in and reinvested in cruise stocks which I cashed out before their recent dip.
You guys talked me out of shorting PTON. That would have stung.
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