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Trim single option position -

Question answered

Posted by jtsurfah on 20th of Jul 2021 at 12:46 pm

Trim single option position -  a couple of ways to trim a profitable single option position while still allowing for some upside is to either "cover" the position (sell a call against it) or "collar" it (sell a call and buy a put). I typically just sell a call...often near or in the money. 

FWIW - I was a US Navy Diver / bomb squad guy for 8 years (EOD) so the AAZZF story is even more attractive to me. Bomb techs defusing things by hand these day is just dumb. 

Good to know. Thanks. 

AAZZF - I love this story on its face! But is anyone else worried by the fact that it's a Canadian company? I can't remember a time in my life that I've seen a country lose it's way as quickly as Canada has over the last few months. (disclosure - I am long AAZZF)

SAVA - Selling 75 strike

SAVA Daily View

Posted by jtsurfah on 11th of Jun 2021 at 01:07 pm

SAVA - Selling 75 strike puts expiring next Friday for ~$530 each...a 303% annualized return, if the options expire worthless.  Could play it safer and sell 70 strike puts for $300 each (176% annnualized).   Also considering buying long puts underneath to limit risk. 

CLOV June 18, 13/12 put spread sold right before the close for $48 per spread.  $48 profit if CLOV above 13 at next Friday's close. Break even at $12.52 (transaction costs not included). Total risk is $48 per spread.  The bid/ask spread was wider than I like on this one, but it did fill near the midpoint (I adjusted down 2 cents from .50 to get a fill). 

Not sure if I should

Posted by jtsurfah on 10th of Jun 2021 at 04:10 pm

Not sure if I should share this but I have been killing it selling out of the money, short dated spreads to newbie Robinhood / WallSt Bets options traders lately. Mostly put spreads.  E.g. CLOV short dated options have insane volume today and it doesn't seem like the people on the other side have any idea what they are doing. My "win rate" is tempting me to go bigger, but keeping position sizes very small because it seems like it will have a bad ending...eventually.  For now it's like taking candy from babies. 

Matt called X a while back.  It's been a great call on his part. I got too cute with the price on my entry order and missed it.  That said, I looked at the fundamentals and was not super impressed...so not chasing.  

GLD and GDX fans migrating

gold and miners no love.  

Posted by jtsurfah on 30th of Mar 2021 at 02:09 pm

GLD and GDX fans migrating to Crypto & Crytpo miners? True story in my case, but otherwise just anecdotal observation

ETHE (Grayscale Ethereum) is on fire. I guess Visa announced something about completing a transaction on the ETH blockchain and rolling it out to customers soon. I trade crypto directly and the charts are a little different...ETH seems to be approaching the top end of a large coil now. ETHE also has a coil type look but it's still in the smaller version of the coil that ETH broke out of earlier this morning. 

VZ -  typically a boring

Posted by jtsurfah on 24th of Mar 2021 at 12:45 pm

VZ -  typically a boring name, but chart looks ready to pop.  4.4% yield.

Dollar up strongly despite all

Market comments

Posted by jtsurfah on 23rd of Mar 2021 at 02:08 pm

Dollar up strongly despite all indications that Yellen & Powell are willing to continue to dilute it's value / increase the supply are a record setting clip. The said, I've lost faith in trying to use the DXY or UUP to track devaluation since they are more comparisons of one fiat currency against other fiat currencies - almost all of which are engaging in the same practices.  It's interesting to see Yellen in a role where it's appropriate that she is partisan. Can look back now and realize that some people's fears about her policies back in her Fed days were not completely unfounded. 

NFT's for art seem way overblown, but I'm all in for anything that disrupts the anti competitive practices in the American real estate industry and reduces the exorbitant fees & commissions they are able to charge as a result of those practices.  Smart contracts on blockchains (NFT's) seem like they hold promise in this area. 

Moderated is cool. I've been a member off an on via multiple user names for probably 15 years now...something like that anyway. I don't have to post and don't often want to - just wondering if I'm just too  stupid to figure out how to do it! Saved the crazy posts and testing for the weekend :)

Sorry, I  think the link might work, but it didn't post directly

Hard to post with this

Posted by jtsurfah on 3rd of Mar 2021 at 01:49 am

Hard to post with this  UI.  Testing but also wondering if anyone has ideas about BTC from current position?


https://drive.google.com/file/d/1ha6zphbFPQJXs0Fn7i6TxqFXdg3qOnBQ/view?usp=sharing

GBTC discount almost cut in

Posted by jtsurfah on 26th of Feb 2021 at 12:25 pm

GBTC discount almost cut in half already today. Seemed like an easy trade so I took it. Just wish I could have have figured out how to put on a pairs trade to really arbitrage it.  Trade would have been too big for my blood using futures. 

Does GBTC represent the "smart

Posted by jtsurfah on 26th of Feb 2021 at 11:36 am

Does GBTC represent the "smart money?"   Overlay GBTC on BTCUSD and look how predictive it's been recently (I'm just using a daily timeframe). It seems to have climbed during the last correction and led this correction by a significant margin. Might be worth following more closely.

Zoom - I think the

Posted by jtsurfah on 24th of Feb 2021 at 12:31 pm

Zoom - I think the shorter time frame /es charts are stuck. Audio still working, which is super helpful. 

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