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Gepetto

Stock Market bubble - will crash

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2 hours ago, easilyscan said:

Tesla killed it today. I couldn't resist selling out of the money covered calls. God bless whoever came up with that 'option', & God bless those foolish enough to buy them.

 

Wait, if you sold out of the money calls, shouldn't you be down if TSLA is up 20%.

If not, do you mean you sold out of the money calls at 25% out?  If so, wouldn't they be selling for like $0.05 per contract?

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3 hours ago, thegeneral said:

If you think this is somehow tied to Trump how do you explain things blowing up for years? 😂

The idiot part is voting for someone who wants to tax unrealized gains.  Anyone with money wouldn’t do that even if it’s a remote chance in hell. You don’t care though, it’s really your wife’s money anyways.     

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15 minutes ago, Horseman said:

The idiot part is voting for someone who wants to tax unrealized gains.  Anyone with money wouldn’t do that even if it’s a remote chance in hell. You don’t care though, it’s really your wife’s money anyways.     

Good point. 

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35 minutes ago, Horseman said:

The idiot part is voting for someone who wants to tax unrealized gains.  Anyone with money wouldn’t do that even if it’s a remote chance in hell. You don’t care though, it’s really your wife’s money anyways.     

$100m threshold.  That's .1% of the population.

Won't affect you.

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6 minutes ago, The Psychic Observer said:

$100m threshold.  That's .1% of the population.

Won't affect you.

Wrong again. But, we expect that from you liberals. :dunno:

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2 hours ago, nobody said:

Wait, if you sold out of the money calls, shouldn't you be down if TSLA is up 20%.

If not, do you mean you sold out of the money calls at 25% out?  If so, wouldn't they be selling for like $0.05 per contract?

I sold 2 Nov 22nd-2024 $350 (TSLA) covered call contracts @ $1.12 per share

These are out of the money for whoever purchased them, because the strike price of $350 is a full $90 more than today's closing price of $260

 

 

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37 minutes ago, easilyscan said:

I sold 2 Nov 22nd-2024 $350 (TSLA) covered call contracts @ $1.12 per share

These are out of the money for whoever purchased them, because the strike price of $350 is a full $90 more than today's closing price of $260

 

 

I'm surprised you were able to sell call options for 1.12 per share $150 out of the money (prior to today).  I assume you did that a month out from the exercise date?

Or are you saying you sold them today?  That I could see.  

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1 hour ago, The Psychic Observer said:

$100m threshold.  That's .1% of the population.

Won't affect you.

It won't because I'm retiring, but, if you don't think it's going to shake up employee owned stock programs for ALL employees when someone wants to put an unrealized gains tax on the board of directors you're cockadoodle doo crazy.  

And saying dumb stuff like that gets you no endorsement from people like Bezos and WaPo.  

Educate yourself:  https://taxfoundation.org/blog/harris-unrealized-capital-gains-tax/

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38 minutes ago, nobody said:

I'm surprised you were able to sell call options for 1.12 per share $150 out of the money (prior to today).  I assume you did that a month out from the exercise date?

Or are you saying you sold them today?  That I could see.  

I sold them today. Here's a screenshot.

https://www.imagebam.com/view/MEWWA6H

When do you want to sell something to someone else ?.........on a day it's up 700% 

The reason I sold calls so far out of the money, is because my Tesla shares are held in a taxable account & I don't want to see them called away because the capitol gains are huge and it would crush me at tax time. Another + for being the guy selling the options, is that any dividends that are paid until the contract expires, go to him. The premiums you receive are in your account the next day earning interest, & don't become taxable until the option expires, shares are called away, or you choose to buy back the options to close the contract.

I did the same thing on September 19th. Tesla was up sharply that day in anticipation of some event in early October regarding Robo taxis. It closed around $250 that day, so I sold 2 Oct 18-2024 $275 Calls @ $6.74.......... The net proceeds of $1,346.60 were in my account the next morning earning interest. Those expired worthless last Friday.

 

 

 

 

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8 minutes ago, easilyscan said:

I sold them today. Here's a screenshot.

https://www.imagebam.com/view/MEWWA6H

When do you want to sell something to someone else ?.........on a day it's up 700% 

The reason I sold calls so far out of the money, is because my Tesla shares are held in a taxable account & I don't want to see them called away because the capitol gains are huge and it would crush me at tax time. Another + for being the guy selling the options, is that any dividends that are paid until the contract expires, go to him. The premiums you receive are in your account the next day earning interest, & don't become taxable until the option expires, shares are called away, or you choose to buy back the options to close the contract.

I did the same thing on September 19th. Tesla was up sharply that day in anticipation of some event in early October regarding Robo taxis. It closed around $250 that day, so I sold 2 Oct 18-2024 $275 Calls @ $6.74.......... The net proceeds of $1,346.60 were in my account the next morning earning interest. That option expired worthless last Friday.

 

 

 

 

I misunderstood your original post that you had previously sold the options because you seemed to be trumpeting that you had already cleared a profit.  You did.  I get that, but I was trying to figure out how it made sense given that you didn't say when you sold them.  

Only after you replies to my clarifying question did I realize you sold them today after the big run up.  

You're probably about to explain to me that you don't care if the options are exercised at $350 because you still made your $224 (minus fees) and you may have sold your shares at $350 anyway.  I know.  I sell covered calls all the time.  I'll reiterate that I assumed given the tenor of your post that I assumed you sold the covered calls before the run up which made me question why you would've sold calls that far out of the money given it would be pocket change.

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30 minutes ago, Horseman said:

It won't because I'm retiring, but, if you don't think it's going to shake up employee owned stock programs for ALL employees when someone wants to put an unrealized gains tax on the board of directors you're cockadoodle doo crazy.  

And saying dumb stuff like that gets you no endorsement from people like Bezos and WaPo.  

Educate yourself:  https://taxfoundation.org/blog/harris-unrealized-capital-gains-tax/

Nailed it. Taxing unrealized capital gains is one of the most asinine ideas I've ever heard. Although when you think about it, counties do exactly that when it comes to property taxes.

Your house goes up 50 K year over a year, and they raise your taxes even though you didn't sell your house and realize those gains. 

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7 minutes ago, nobody said:

I misunderstood your original post that you had previously sold the options because you seemed to be trumpeting that you had already cleared a profit.  You did.  I get that, but I was trying to figure out how it made sense given that you didn't say when you sold them.  

Only after you replies to my clarifying question did I realize you sold them today after the big run up.  

You're probably about to explain to me that you don't care if the options are exercised at $350 because you still made your $224 (minus fees) and you may have sold your shares at $350 anyway.  I know.  I sell covered calls all the time.  I'll reiterate that I assumed given the tenor of your post that I assumed you sold the covered calls before the run up which made me question why you would've sold calls that far out of the money given it would be pocket change.

All I can do is show the original post again. 

Tesla killed it today. I couldn't resist selling out of the money covered calls. God bless whoever came up with that 'option', & God bless those foolish enough to buy them.

That implies I sold the calls the same day. 

Covered calls are a hobby for me & I'd love to hear about some of those you sell.

Regards

 

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4 hours ago, Horseman said:

The idiot part is voting for someone who wants to tax unrealized gains.  Anyone with money wouldn’t do that even if it’s a remote chance in hell. You don’t care though, it’s really your wife’s money anyways.     

Per usual you have no clue.

Why don’t you fock off to your little cow pasture and count your nickels like a hermit.

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50 minutes ago, thegeneral said:

Per usual you have no clue.

Why don’t you fock off to your little cow pasture and count your nickels like a hermit.

TRIGGERED

:banana:

Facts bother you. 

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3 hours ago, easilyscan said:

Nailed it. Taxing unrealized capital gains is one of the most asinine ideas I've ever heard. Although when you think about it, counties do exactly that when it comes to property taxes.

Your house goes up 50 K year over a year, and they raise your taxes even though you didn't sell your house and realize those gains. 

True, although tax assessments used to be pretty conservative towards the property owner. Until recently. 

Good post. 

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Trump stock soaring today. (I have no position) The bias depending on the site that released the story is so obvious.

Yahoo says........DJT stock skyrockets following Donald Trump's inflammatory MSG rally as election looms.

Market watch says...........‘DJT’ stock climbs again after Trump’s Madison Square Garden rally.

https://www.marketwatch.com/story/djt-stock-climbs-again-after-trumps-madison-square-garden-rally-d8e1902a

 

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Executed a buy/write today. Bought 300 shares OKLO @ $23.73, then sold 3 December 22, 2024 $24.00 call options at $4.87 a share. To be honest, I have a bad feeling about this one.

I didn't do the research I normally do before buying. This is a stock in the the nuclear industry, and it's gone from $8.00, to today's price in 1 month. Hopefully they keep pumping it up enough to where my shares get called away at $24 

 

 

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How much longer can it go up?

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3 minutes ago, Cdub100 said:

How much longer can it go up?

I’ll tell you after it goes down.

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Just now, thegeneral said:

I’ll tell you after it goes down.

Thanks!

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16 minutes ago, Cdub100 said:

How much longer can it go up?

Doesn’t look like it will be today!

If you find out though shoot me a PM 😂

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1 minute ago, thegeneral said:

Doesn’t look like it will be today!

If you find out though shoot me a PM 😂

I've laid out my plan and have started executing it. I sold 10%  in Sep another 10% in Oct and I will sell another 10% in Nov. I'll probably go another 10% in December. I own a lot of crypo miner stock, Cleanspark and Core Scientific. I will be more aggressive with my selling during the pump-up.

Crypto I am waiting for the parabolic rise which seems to be starting now. When BTC hits 110k I'll start DCAing out of my positions probably 10% per week.

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3 minutes ago, Cdub100 said:

I've laid out my plan and have started executing it. I sold 10%  in Sep another 10% in Oct and I will sell another 10% in Nov. I'll probably go another 10% in December. I own a lot of crypo miner stock, Cleanspark and Core Scientific. I will be more aggressive with my selling during the pump-up.

Crypto I am waiting for the parabolic rise which seems to be starting now. When BTC hits 110k I'll start DCAing out of my positions probably 10% per week.

I hope you make a killing. Good luck!

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One thing that continues to go up is gold. I don't own any, but what impresses me most about it, is how many people talk it down and say things like "I don't understand the attraction to a shiny metal" including many powerful people around the world, yet it continues to rise. 

 

Gold Dec 24 (GC=F)

COMEX - COMEX Delayed Price. Currency in USD
Follow
$2,784.60 +28.70 (+1.04%)
 
 

 

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GOOG did their part and avoided a land mine. Earnings good, cloud biz great, ad biz good enough.

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4 minutes ago, thegeneral said:

GOOG did their part and avoided a land mine. Earnings good, cloud biz great, ad biz good enough.

171.14+2.80 (+1.66%)
At close: 04:00PM EDT
178.74 +7.60 (+4.44%)
After hours: 
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On the other hand.......we have AMD

 

166.25+6.33 (+3.96%)
At close: 04:00PM EDT
153.95 -12.30 (-7.40%)
After hours: 5:01PM EDT
 

 

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8 hours ago, easilyscan said:

 

171.14+2.80 (+1.66%)
At close: 04:00PM EDT
178.74 +7.60 (+4.44%)
After hours: 

Not good enough. They've sucked since July. Like a boat anchor for IXIC.  

 

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Microsoft and Meta (a.k.a. Facebook)

416.41 -16.12 (-3.73%)
After hours: 07:59PM EDT

 

573.40 -18.40 (-3.11%)
After hours: 07:59PM EDT

I don't own either of those directly, but I do own just under 400 shares of Eli Lilly. The good news, my cost basis is around $37.00, the bad news, it was down $57 today. A $22,800 haircut in my taxable account.

 

 

 

 

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Two more mag sevens reported after the close.

Amazon $186.40 -6.33 regular session...... after hours $194.62 + $8.22
Apple $225.91 -$4.19 regular session..... after hours $223.95  -1.96

Without all the share buybacks over the past 5 years, apples earnings per share/bottom line would actually be down. Wall Street is starting to notice.

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🚀🚀

Going to be wild this morning. Let’s hope the gains take root. Nov 2020 to Jan 2021 saw a huge run up why can’t it happen again?

I jumped back into the BTC world so apologies there if it goes in the shitter.

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3 minutes ago, thegeneral said:

🚀🚀

Going to be wild this morning. Let’s hope the gains take root. Nov 2020 to Jan 2021 saw a huge run up why can’t it happen again?

I jumped back into the BTC world so apologies there if it goes in the shitter.

A few days of crazy gains and then back to normal.  I expect the year to end up but all the gains will be in the first few days.  My guess.

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5 minutes ago, Alias Detective said:

A few days of crazy gains and then back to normal.  I expect the year to end up but all the gains will be in the first few days.  My guess.

The year better end up! This has been one of the better years already, let’s get a sugar high bounce for the next couple months and really make it amazing. 

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47 minutes ago, Alias Detective said:

A few days of crazy gains and then back to normal.  I expect the year to end up but all the gains will be in the first few days.  My guess.

Agreed. We will get back to lower highs and lower lows. 

The market will slip down slowly. Than all at once 

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