Could certainly use any valuable advice & it's definitely appreciated! I'm just a small, retail investor who likes to read up on news/trends before making any option plays (normally around $500-$1k). Sitting mostly on cash while trying to average back into long positions on safer equities such as QQQ, VOO, ARKK/W, MSFT, TSLA. I'll make a few option plays but all within my risk tolerance. Wish I bought more VTIQ but I reduced my buy orders from 3 to 1 due to uncertainty. I'll probably sell at some point before June, just wish I bought more haha. Thanks to the input you & others have posted here. It's great to learn ride the wave on some of these plays.
So S&P sitting around 2800 and change right now. What do we see first? 2400 or 3200? Any bets? On positive news days it seems impossible we'd not hit 3200, and on negative news days it seems impossible we won't be back at 2400 (first).
In the day we sweat it out on the streets of a runaway American dream At night we ride through mansions of glory in suicide machines Sprung from cages out on Highway 9 Chrome-wheeled, fuel-injected, and steppin' out over the line Oh, baby, this town rips the bones from your back It's a death trap, it's a suicide rap We gotta get out while we're young 'Cause tramps like us Baby, we were born to run...
That's my logic. Think there's plenty of room to run up before the merger but was lucky to get in at a good price. Might take an equity position if I were looking to re-enter later. Also set some BTO call orders on IBB but couldn't it low enough to fill (maybe tomorrow). These are all just speculative plays. For my long positions, I was able to pick up ARKK at $55 today so feeling good about that. If keeps dropping, I'll DCA at $5 intervals. The ARK funds (ARKK/ARKW) have done well for me in the past.
I personally feel that way just because of the run it has had - but things could change the closer we get to the date - pullback/realistic stock growth etc./more pr so it goes wild, I just think in this market when something jumps like this it normally won't sustain, and if you're running with options you want to be ready to take profits. If you plan on just holding because you believe in the company and just doing stock plays (so not moving contracts) - can always average down/add more/play the charts. But with a volitale stock and a premium charge on options you generally want to at least make sure you profit a good amount and capitalize on it. I've seen some insane profits on options on this from others and I'd rather cash out on some, and then buy the stock later. Not financial advice, just what I'm thinking regarding options on a hot stock. Like if I was in this (I wish), I'd research and set a target sooner than later - this applies more so on options though. I think this company will do well long term though, just options can humble you quickly. Ie up 500%+ and then down to trash. So you really want to watch them and have a plan is all.
Yeah, it'd be nice. Hopefully everyone that got in made money on option highs (I mean if contracts are close to expiration etc). I think it'll be a good investment regardless
One to watch for cheap options - I know I mentioned before is RIOT, it's finally climbing, my only mistake was not reloading on the cheap $2 calls for this week, I have them for 5/22 and 6/05. Price is very much related to btc/crypto - but should hopefully climb more, definitely not saying to buy now without DD but I'm up 160%+, just be careful, it's not something I'm investing in like a VTIQ type. But I'll continue to move contracts etc. I mean unless btc continues this trend after the half hashrate etc. The reason I bought a few weeks after the 1/2 date is because of the lag/market reaction. I don't like crypto like I like stocks, but will go for opportunities.
I'm out on calls at the moment, just in case, not financial advice but watching for re-entry on RIOT type plays, I don't like that it's mainly crypto type hype. Just letting anyone know so they play careful. Obviously I could be wrong but I'm not liking the dip, I do expect a reversal but trying to watch to try and get more profits. And not able to watch super close atm, this has been pretty volitale and is still on news, but with lawsuit being dropped and their investment it could work, but I like other companies if investing long term vs here.
Does anyone on here attempt SPY options? Or other ETF/N/Ps you like to trade? I'll do some occasionally but just wondering if anyone trades them a lot?
lol. I remember RIOT from when I used to actively trade crypto. It used to be a biotech company and then all of a sudden one day said "hey, we're now a crypto company and changing our name", and the stock skyrocketed. I still remember thinking "wth?" Not sure why they'd go up because they're a crypto mining company, but then I don't really follow them.
From what I can tell it's all hype/speculation regarding 1/2 hash rate and them investing in more mining equipment, at least from behavior on stock. Some will state its price is directly related to the btc price but other than looking at specific points between the two charts over the last few years, it's all hype/get rich quick/sell the rumors. I basically mentioned earlier since I was up decently on calls again, some purchased May 8th I think I posted in thread on that back then and others May 11th, but definitely don't plan on investing, I closed call positions and am considering puts or another stab at calls but unfortunately... this is probably more than likely new investors that get trapped thinking this is legit in the stock. I mean I could be wrong but I was watching for 1/2 date and mentioned this for the hype that's followed, it's worked out nicely, but I think it's going to fall back below 2 after the bottom falls out. I honestly didn't know about the biotechnology aspect, haha, on some of my options trading/plans I don't treat them like stock, I basically made a decent assumption this would work because of the market's new money blindly following 1/2 hash rate. I definitely don't encourage anyone to buy into this unless they know risks or a ton of research etc.. I mean I really don't see this being something to put money into the stock. Then again, the market is behaving really odd still...
Were you able to cash in on the stock jumping back then? I think it hit ~$40 iirc from the quick research I did do. Haha, I should have scooped up the $2 calls for 5/15 too.... Oh well, I didn't want to get too greedy on hype, I basically refuse to own stocks like these long term if I don't believe in the company. With that said, I do wish I got in on some of these crazy value priced options that basically go exponential. I've only had a few lately that hit higher than %200-300+ on short term trades. Like I don't know if I'd be able to hold long enough to cash out some I've seen go from some $100+ dollar amount to $10k+... But that's gotta be very hard to do with the wild swings options can have. I mean once you pass some threshold/planned target... I don't know if I could do like some I see ride waves of 5k up > 10k down > 25k up etc.... I typically plan on a target and move on, unless I own enough to cover the profits and equal house money but even then... If you ride it up 5k+ I think I'd have to bail... I think it's insane when I see a portfolio hit like a million and then go down to basically cents on only options trading.
Looking at BABA $210c 05/29. Looks on sale at the moment if I'm counting on an earnings week bump. This might be affected by the JD earnings tomorrow before market open. Might take a flyer or two on this to see if I can get in at a decent price.
I took some profits today. I sold Home Depot that I bought at 180 in April. I sold half my chevron that I bought at 68.
It would take a lot for me to invest in a company like that -- even as a gamble. Going from a biotech company to a crypto company overnight just seemed too bizarre to me. I just stayed away back then. Crypto was crazy enough as it is. There are a lot of cornball companies like that out there.
Absolutely agree, I also find the info on them changing wild, basically straight up Boiler Room. Like on RIOT there was no way I'd exercise those options I hope whoever got the contracts knew what they're getting into... I sometimes feel guilty but I'm sure we've all been burned on stocks. If I'm wrong and it goes wild that's great, I just look at it like something that if I do miss out on, it's not something I'd have put major holds on anyway.
