Boiler Room: The Official Stock Market Discussion

[Doomsday]

I had gnus at 17k shares for .89 and sold for a loss cuz i panicked

I'm allowed to buy again on the 7th without incurring a wash sale..would you recommend getting back in

Hell yeah, but I'd say tmr or Wednesday would be the last day to really eat off a two week flip. Once it hits 3-4 dollars it's almost not worth it as there are other penny stocks you can get a better flip on at that point, because 6/12 should only be 5-10 dollars.

 

[Scholar]

Call me crazy, but I think you can get rich off of selling PLAY puts. Keep stacking 7.5's JULY 17. I doubt it'll ever get that low to where the option will be worth anything. Pocket the premium and let the option expire. Keep doing that= rich.

Selling them

Wildin man. Im gonna buy those puts and get the bag after their L next Friday

 

[K-Deini]

Hell yeah, but I'd say tmr or Wednesday would be the last day to really eat off a two week flip. Once it hits 3-4 dollars it's almost not worth it as there are other penny stocks you can get a better flip on at that point, because 6/12 should only be 5-10 dollars.

Guess I'm gonna miss out then. Damn

 

[the cac mamba]

Any of yall in bitcoin? Someone I know who is into it heavy says it will be a 100k a coin in year or so. Its 10k for one now, was thinking of buying one

Yeah I've got quite a bit in crypto (between Bitcoin and ethereum)

whats the best place? i was thinking of buying a bitcoin too. wouldnt at 10k but lower i might

 

[MaxBundles]

Yes PLAY keep going so i can make easy money next week with puts

Call me crazy, but I think you can get rich off of selling PLAY puts. Keep stacking 7.5's JULY 17. I doubt it'll ever get that low to where the option will be worth anything. Pocket the premium and let the option expire. Keep doing that= rich.

Selling them

Wildin man. Im gonna buy those puts and get the bag after their L next Friday

I'm new to options, lost money on 2 of my last 3 contracts.
Can yall explain this a lil more? What play yall going with?

 

[NkrumahWasRight Is Wrong]

Any of yall in bitcoin? Someone I know who is into it heavy says it will be a 100k a coin in year or so. Its 10k for one now, was thinking of buying one

im not a btc hater..i actually like crypto a lot..but to be devils advocate..people have been saying 100k bitcoin for at least 2 years now

 

[NaijaProdigy Redux]

whats the best place? i was thinking of buying a bitcoin too. wouldnt at 10k but lower i might

best place to buy? On Coinbase

 

[K-Deini]

im not a btc hater..i actually like crypto a lot..but to be devils advocate..people have been saying 100k bitcoin for at least 2 years now

Yeah I have no idea about it, he was just saying any time it halves it rockets in price

 

[NkrumahWasRight Is Wrong]

crowdstrike and zoom report earnings AH tomorrow

 

[Saysumthinfunnymike]

 

[Tommy Fits]

Trump declares martial law.... Market goes up 500 points. Just wait to the bodies hit the floor maybe we can hit 1000. 40; million unemployed, businesses still not open, people not paying rent/mortgage, and the country is literally burning down. The market is through the roof, someone explain this to me, what am I missing

 

[Scholar]

I'm new to options, lost money on 2 of my last 3 contracts.
Can yall explain this a lil more? What play yall going with?

Stock: PLAY (Dave & Busters) - 13.58

Earnings Date: Tues., June 9th

So what I'm saying is I expect the price of PLAY to drop when they reveal their earnings next Tuesday. Let's say I expect the stock to drop beneath $10. I could buy a put at a strike price of $10 expiring next Friday, June 9th (or whenever in the future).

A $10 put option expiring 6/9 cost .33. Whenever you buy an option contract though you buy 100 at a time. So the true cost would be .33 x 100 ($33 per contract).

In order for this to be profitable for me I need PLAY to be < 10 - Price of option contract .33 (9.67). I use this to quickly find out how much I can make: Long put calculator: Purchase put options

Pro
-You can make quick large returns. If i put up 2k for a $10 put and the price falls to $8 I would make at-least $10k

Cons
-I could lose all the money I invested (2k) if PLAY stays above $10.
-Buying options leading up to or during a earnings week is more expensive. People expect a move up or down so options are more expensive


Doomsday is saying a bit of the opposite. He is saying I should sell puts. Basically, he expects the price of PLAY not to drop beneath $7.5.

 

[mannyrs13]

We don't use robinhood round here breh...

1. Sign up for TD ameritrade
2.Then download thinkorswim
3. Between the hours of 1pm -6:30am, Mon-Friday use ThinkorSwim
4. You can only purchase doing limit orders.
5. Make sure under limit order, the TIF is GTC_EXT
6.

i got tdameritrade, had gotten it to invest in a stock that left me like , so I dont use it too much. They did flag me for potential day trading last week, some warning shyt. Anyways I have an account with them like a smaller one. Is thinkorswim part of them or what? what is the difference and benefits?

 

[mannyrs13]

whats the best place? i was thinking of buying a bitcoin too. wouldnt at 10k but lower i might

best place to buy? On Coinbase

Coinbase is the best but transfer it over to coinbase pro when possible. Less fees over there. I have 1 BTC on there that I need to transfer over to my wallet and some ETH too that I'll likely send over. I have a few small alt coins on regular coinbase. Huge difference in fees.

 

[mannyrs13]

Trump declares martial law.... Market goes up 500 points. Just wait to the bodies hit the floor maybe we can hit 1000. 40; million unemployed, businesses still not open, people not paying rent/mortgage, and the country is literally burning down. The market is through the roof, someone explain this to me, what am I missing

The NYSE is the largest stock market based on market cap in the world. Nasdaq, Tokyo, and London Exchange are the next 3 and even combined are not as big as NYSE. Plus Nasdaq is US based. I see this because the NYSE market is so strong that even tho those things are happening, its not greatly impacting them. The market is lead by international corporations that make billions all over the world no matter what happens here. Other countries like France and Germany are already starting to get over this covid shyt. Countries in Africa, Asia, and South America are projected to experience tremendous growth this next decade. Companies are investing in those countries and others and not just relying on the US for revenue. The rich are gonna stay rich because they not worried about unemployment or being unable to pay mortgage or rent. The upper class elites run the stock market. We just going along for the ride. Restaurants and retail stocks are down but other stocks can easily pick up the slack. They don't care about the country burning down or looting. Elon Musk just had a successful space launch involving his company the other day. You think he cares if rioters loot a few Teslas? Besides there are plenty of cities around the country where covid numbers are low and I haven't heard about much rioting going on. Lets just hope the market keeps rising because its the best way to invest and more people need to realize that.