IRS' officially definition is something that is "substantially similar", but in practice, they don't seem to care if you flip say IWM <-> VBK or some such.
I got lucky twice; first is TLHing early March, second is flipping VTSAX to a combination of MM and AMZN. Absolutely unbelievable that AMZN...
^ This. I treat "Sell to open" with the utmost caution, though watching someone else get thrashed by theta is fun.
On another note, technical analysis is a fine tool (I look at Fibonacci retracements, dark pool indicators (GEX/DEX), etc.) but it all goes out the window when a damn Tweet up and...
Couldn't find a $10,000 picture in Google search. At least not without President Camacho on it!
Also, Jerome Powell might as well be black. Might just be Camacho's great, great grandfather :P
No need, you can just watch Trump's daily briefings for Chanel Rion.
Dumber than a brick, but can still give you a stiffy :)
Will probably take a break from daytrading for a little while. While making some bank is nice (like IWM 5/1 $121Cs today), there's more to life than staring intently at a...
I only watch CNBC for entertainment - only thing I know for dead certain is that stocks go right!
It's also hilarious to see the change in headlines/graphics on the CNBC site when say the DOW flips from +100 to -100. With VIX so high, the changes are so violent/fast that the headlines/graphics...
Yikes, 3x leveraged fund is not something I'd like to play with :eek:
Again, there's a solid case to be made for why the market should be down (over-leveraged companies, etc.), but it has been irrational for longer than I can remain solvent. Already burned on 4/17 $220 SPY puts (bailed out 2...
Busy with work today, and didn't execute very well. Still walked away with a few hundred, but could have been a bit more.
Cash gang for the weekend, apart from GLD puts that are being gradually resurrected.
Can always count on JPow's printer near EOD.
Made an average of 25% profit on two plays of IWM $116 4/24Cs today, and am out.
Do not feel comfortable holding options overnight in this crazy market, especially since all the real action happens after hours anyway (gapping up / down)
I tried to...
You just know TheDonald is going to be all "5.2M vs 6.6M job losses last week, BOOMING" at the presser today. Of course, conveniently forgetting that 4/5 * 6.6M = 5.2M. This is more disturbing to me because it shows that the unemployment claims system capacity is pretty much 6.6M, and that we've...
LMAO, you and me both. It's the first time I've seen a stock behave like a r/wsb FD :p
Hell yes, theta gang. Today's trading is crazily flat - IWM's been bouncing between 117 and 118.
Not to make light of Tesla, but a lot of folks consider TSLA and SPCE (along with PLUG, APRN, etc.) to be "meme" stocks. IIRC, you bailed out of SPCE pretty much at the peak (~$42). I am extremely happy/lucky that I did so as well at $41, can't imagine the bagholders who bought in at $35+ and...
Already learned the lesson (that JPow has a bigger d*ck printer) with my late-Apr/early-May SPY and GLD puts :( Salvaged whatever I could and rolled into USO and IWM short term calls.
Ouch :(
I'm pretty much daytrading here and there with the mindset that JPow will bail me out, ie. buying almost ITM calls on the dip (playing with IWM 4/24Cs today)
Not YOLO profits, but I'll take $1K here and there.
Going back to a pre-Corona market would be somewhat boring now though (back...
This is absolutely asinine, but I'm out.
Purchased a few TSLA at ~$450, bailed at $730.
Also bailed on AMZN (bought in near ATH shortly before Corona - never dreamed I would break even, let alone profit!)
JPow/Mnuchin/Trump can keep the financial economy divorced from the real economy awhile longer all Modern Monetary Theory like (we can look to Japan to see what could happen if we go far down this road)
The way I see it, Nov is the absolute latest when sh*t will hit the fan irrespective of the...
Heard that! Having a small (5-10%) portion of holdings as "play money" offers plenty of profit and excitement in the meantime.
Like that time when I somehow fatfingered an order and bought 4/3 IWM puts on 4/2 (wrong date). Still came out with a profit, but boy was I sweating bullets especially...
Already did, nothing unexpected since I knew the (limited) extent to which JPow f*cked me.
Majority of my holdings had already been moved to MMs (401K + taxable) early March waiting for a reentry point below DOW ~19K.
Also this :
Have to laugh to myself. "Buy the rumor, sell the news" can work quite well!
Scalped USO calls earlier in the morning, now USO puts are printing
Also, looks like strong resistance level of ~123 for IWM, and ~278 for SPY
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