Boiler Room: The Official Stock Market Discussion

[Macallik86]

Not seeing too many charts that favor my setup so imma sit this one out and focus on this remote work for my employer.

A lot of the volatile stock (APRN, INO, NIO, PLUG) seem indecisive post Earnings Report.

 

[KalKal]

Almost Bought a 1500 call on tsla before the market close,

definitely will Tomorow morning if I like what the chart tells me.

Looks like you may have dodged a bullet there.

Love seeing shyt like this. Black ppl are finally getting rid of that save your money mentality for the invest your money mentality.

I be trying talking to my preteen son all the time trying to mold him but he just don’t care for what I have to say.

I remember seeing A LOT of stories like just back in 2000 JUST before the Dot Com bubble popped. When I here stories about kids making an adult's yearly salary from daytrading, I get scared. Its a bad sign.

I've been messing around with stock options since the crash in 2009. I would say it took me until 2015 to actually move beyond "gambling". Sure the kid got lucky on TSLA calls, but in this year's market that was just luck. What TSLA has been doing this past year is NOT normal and nobody should expect this to go on forever or declare someone a genius for making money off of it.

I learned this the hard way betting on GOOG calls years ago. There was one particular day where I turned $6000 of GOOG calls into $95,000 in two days by betting on calls just before earnings. But that didn't mean I was smart, it's the equivalent of holding 2 cards in Video Poker and hitting a Royal Flush. Spoiler alert: 6 months later that $95,000 was gone, thanks to me trying to bet on "safer" AAPL calls.

More than half my eTrade account is still in Options now, but I'm mostly into in-the-money LEAP options. And I'm making A LOT more money doing that than I was "betting" on out-of-the-money options.

 

[Rickdogg44]

KEYLB


i really need to find one of these.

 

[Hiphoplives4eva]

Just bought more lemonade

 

[old pig]

ya I can’t find that symbol

 

[Macallik86]

Looks like you may have dodged a bullet there.



I remember seeing A LOT of stories like just back in 2000 JUST before the Dot Com bubble popped. When I here stories about kids making an adult's yearly salary from daytrading, I get scared. Its a bad sign.

I've been messing around with stock options since the crash in 2009. I would say it took me until 2015 to actually move beyond "gambling". Sure the kid got luck on TSLA calls, but in this year's market that was just luck. What TSLA has been doing this past year is NOT normal and nobody should expect this to go on forever or declare someone a genius for making money off of it.

This.

That's what scares me about the r/WallStreetBets-esque dip buying. Yes, even though the economy is trash, the stock market is bullish so it makes sense right now, but it is not a sustainable trading strategy.

I learned this the hard way betting on GOOG calls years ago. There was one particular day where I turned $6000 of GOOG calls into $95,000 in two days by betting on calls just before earnings. But that didn't mean I was smart, it's the equivalent of holding 2 cards in Video Poker and hitting a Royal Flush. Spoiler alert: 6 months later that $95,000 was gone, thanks to me trying to bet on "safer" AAPL calls.

I can admit that my most profitable trade ever was terrible trading. Back then, I was trying to swing trade deep OTM calls... options where the Bid is $0.00 & the Ask is $0.05. I was losing money hand over fist but I got lucky with one play. I bought $190 worth of Heinz calls after commission @ $0.05/ct. I was in the trade for a few days/weeks and nothing was happened. One day, I was at work grumpy after fighting with my ex, and this dude that knew I had a position open messaged me to ask if I saw the news. Heinz was bought by Buffett and each option jumped to like $9.00. If I remember right, $190 turned into like $29,000 but it was such a shytty trade that I knew was pure luck. I consistently lost money for the next few months and stopped trading for a year or two lol.

More than half my eTrade account is still in Options now, but I'm mostly into in-the-money LEAP options. And I'm making A LOT more money doing that than I was "betting" on out-of-the-money options.

I stay away from OTM options for the most part as well nowadays although I may dabble in a bit in my IRA since the time horizon is longer. Are you using options basically to swing trade stock and ignoring the greeks?

 

[FabTrey]

ya I can’t find that symbol

my bad


KELYB

KELYB Stock Price and Chart — NASDAQ:KELYB — TradingView

 

[old pig]

my bad


KELYB

KELYB Stock Price and Chart — NASDAQ:KELYB — TradingView

damn.

 

[FabTrey]

damn.

$70+ at one point.

 

[dora_da_destroyer]

i'm up, and TLSS slowly creeping up...almost in the positive on that POS.

 

[Serious]

Just bought more lemonade

burrr

 

[Saysumthinfunnymike]

I like my $60 cost basis on Lemonade right now. Not too high and low enough to add on dips into the high 40s/50s

 

[mannyrs13]

i'm up, and TLSS slowly creeping up...almost in the positive on that POS.

I'm still down, already past the fukk it level.



Got too stressed out and sold some opti shares when it dipped to .10. Got rid of my TDA position and one of my fidelity ones. 700 profit on TDA and 100 on fidelity, could've sold for more since it climbed back up but it is what it is. Still got about 37k shares at .04 average cost so hopefully it reaches a $1 at least.

 

[KalKal]

This.

That's what scares me about the r/WallStreetBets-esque dip buying. Yes, even though the economy is trash, the stock market is bullish so it makes sense right now, but it is not a sustainable trading strategy.



I can admit that my most profitable trade ever was terrible trading. Back then, I was trying to swing trade deep OTM calls... options where the Bid is $0.00 & the Ask is $0.05. I was losing money hand over fist but I got lucky with one play. I bought $190 worth of Heinz calls after commission @ $0.05/ct. I was in the trade for a few days/weeks and nothing was happened. One day, I was at work grumpy after fighting with my ex, and this dude that knew I had a position open messaged me to ask if I saw the news. Heinz was bought by Buffett and each option jumped to like $9.00. If I remember right, $190 turned into like $29,000 but it was such a shytty trade that I knew was pure luck. I consistently lost money for the next few months and stopped trading for a year or two lol.


I stay away from OTM options for the most part as well nowadays although I may dabble in a bit in my IRA since the time horizon is longer. Are you using options basically to swing trade stock and ignoring the greeks?

What I'm mainly doing is rolling my deep ITM options up to "just barely" ITM whenever they go up a lot. That way I'm accumulating more calls as time goes on with the same money.
I'm not consciously looking at the greeks when I trade, but the effect of what I'm doing is that the "delta" of most of what I own is usually about 0.55-0.60.

 

[Reign X]

I didn’t end up buying amazon as I’m too tech heavy and want to get in this non-tech rotation a bit. Following buffet on bac.

Keeping my eye on lemonade for now. And hopefully I’ll get in amazon when tech stops downturn. Or I’ll just mistime it all.