I am out as of this afternoon, could bear it no longer. Now I suppose it will go to $2 again or $2.50.
i cannot agree there. After losing all my money on PGN stock I cannot afford to dress up or buy steak.
I blew it- cannot multiply my capital now. What kind of dollar amount do you think you need to accumulate to be in position? We talking 1 million, 5 million, etc? I was trying to do the same thing you are, but I got super aggressive with PGN and it ruined me. Now I have no future (financially anyway).
i wish you luck. Me selling could signal bottom. I had to just preserve what I have left to dedicate to my job search which is now urgent because of this.
silly to even care about losing 70% of my capital during the great market rally of all time.
lol I am not sure I can bring myself to do that. But you're right it's only money, still got my health and can enjoy the outdoors (doesn't cost anything to walk around) to be honest I'll be happy just to be able to enjoy the outdoors then watch sports on TV with a cold brew and some pizza.
I do have a good friend who went from 700K to 2 million to 0 in the markets. He was suicidal for a while but turned it around, hopefully I can do the same. Man I can't believe it I think the worst thing is the market is all time highs at the same time!
Speaking of death- I don't know if I have the courage to kill myself, but certainly my financial life has been killed. Its over forever now. Thought this was a dream in the low double digits, loved it at 5, now it decorated my grave.
It feels too late to sell to me. It's quite heartbreaking in fact to have lost almost 3/4 of my money while the market is at all time highs and some other stocks I have followed like XON have done so well in the same time frame. Coulda shoulda woulda I guess. Imagine having put it all in XON instead of PGN, I'd be worth 10 times what I am right now. I guess that's why they say to diversify but I still would like to die at this time.
In fact my account went from 100K to 24K, so I actually need to double twice just to undo the damage. You can see how it might make a fella killself.
I will be long at 18.60 when the 19 puts I sold close in the money, the only question is when to average down. I may wait for 15 before committing more funds.
Then hopefully it goes back to 20 in a day lol
Wow!!!! If it doesn't make you want to kill yourself, you may already be dead!
this is not shaping up well gentlemen- down over 12% in 48 hours and no stop in sight. I will own a bunch (I mean almost half my whole account) at 18.60 cost if the 19 puts close in the money.
Cushion was over $5 couple days ago, almost down to $3. I am OK being heavy in this at 18.60 effective cost I guess and then ride back to 20. Good luck all!
Looked at my notes, 11 times I have sold puts. All 11 times, the stock has gotten under the strike price at some point. This is the 12th time. It's a statistically meaningful sample size.
Something is acting kind of sick with this stock right now. I think it is simply because I sold the 19 puts so they want to make me sweat for the next 21 days lol. It will probably dip into 18s by then.
I am short puts which means I do not want this to drop to 19! I think it will though! 21 days is a long time!