It's going back to when the news of Hanergy first broke.
Kind of krap shoot where this thing ends up since Hanergy is still halted.
Both of your statements are wrong. Chinese solar companie do not make up much of the ETF...they make up SOME of it...not a majority.
It's not a solid investment until they extricate the Hanergy position.
I had also sold out of TAN about a month ago and went right into QCLN. A lot of the same holdings...I get my SPWR, FSLR, SCTY and TSLA...but no Hanergy...and the expense ratio is a little lower too.
Been a few months, and I've been reading some of the comments along the way, so I thought I’d post.
I no longer have any position. I sold everything shortly after the delisting. I’d had enough. I’d been in the stock since ESCI days and endured too many disappointments to hold on any longer. It was tough getting rid of that large a position. It had been my largest holding for so many years. Plus, I still had some capital gains to account for. But I’ll say this. I am MUCH less stressed now.
The idea that they’re well over a year with no financials and no end in sight speaks volumes. They’re paying money to every board member who has resigned (which is most of them) for doing an inept job. They have no direction. Operations updates are questionable. This whole scene remains sketchy at best.
When I saw the news that Sampson was becoming the CEO, I laughed…whereas if I were still a holder I would have been furious. Taking a brand new CFO and making him your CEO when the company is still embroiled in a financial mess is a joke….did Heath walk in one morning and get asked, ‘Hey, wanna be CEO’? “uh, sure…why not”, might have been his answer.
So with many of you posting your frustration, I can offer you this now being 2+ months removed. It took a LOT to sell and it felt like the end of a dream unrealized…but it’s much better having a lot of cash to work with and not having this constant aggravation.
Where this stock goes is anyone’s guess, but I think you’re starting to see the aftermath of a boat that sprung a leak, been bobbing up and down on the surface of the water for awhile, and now has taken on too much water to stay afloat. Volume is bone dry.
I continue to think about the lawsuits as these guys should be held accountable…but that’s a whole other story.
I certainly wish many of you well in your future investments.
Are you comparing a company with global changing technology to a pet-supply retail organization?
Yeah, I didn't really think so. This company is NOT on the cusp of a major upswing. Each quarter they seem to do incrementally better...then they have one bad quarter that mucks everything up.
I've posted before that nobody is buying into this single digit revenue increase. They need to see something significant.
So, while they are showing increases, they really need to expand their business so they can generate double digit growth.
So, if anyone had written this strategy a month ago, you could have closed it out today and made about 7 points...without the risk of holding for the news.
Yep, a lesson for me as well to listen to my gut.
you don't need a margin account for Level 1 options (selling covered calls). But you do need to complete an options agreeement and get approved.
One flaw in your logic
Once the news comes out...the options premium will crater...so you'd likely get little for a future option trade.
Writing a put is bullish...but writing a straddle is betting on lower volatility and smaller share price movement.
Maximum gain for a straddle writer is if the stock ends at the strike price.
In my earlier example, I would not get my fanny spanked if I wrote a May $25 straddle as I would have taken in $22-$24...so if the stock goes to $5, I would actually still make a couple of bucks.
As tempting as that is, I am not doing that as if the stock goes above $50, I would be forced to cover on the call side and it could cost me a bit.
writing a straddle is making a bet that when the smoke clears and the risk trade is no longer on, the stock is still going to be 'somewhere' in the vicinity of the strike...but you don't know on which side. So whether the stock ends $5 or $10 bucks above or below the current price, you made good money on the trade.
"There s almost zero risk to the downside". That is actually very true. If the stock goes to zero and you took in almost $24 in premiums, it's essentially a wash. I addressed the risks of the stock going the other way.
That's what i was thinking....except maybe writing May $40s.
So if someone sells a May $25 straddle, they collect between $11-$12 on each side. There's almost ZERO risk to the downside...The risk is actually on the upside...if the stock goes above $50.
Otherwise, another play is to sell a covered call with the significant premiums for strikes well out of the money.
Anyone playing it this way?