I would bet a lot of money that you won't be able to sell for a profit on Monday, even though I am long the stock.
Should work as long as you didn't sell too many. The bottom can't be far away. If you get put the shares you can turn around and sell covered calls until you're out of the position. Somewhere in here we are likely to have a sharp reversal IMO.
Dirty Rotten Scoundrels? Love the part when Michael Caine is trying to show that Steve Martin doesn't feel any pain at all. I still think selling the $40 calls is a good alternative to bailing. With a little luck it will stay in this range, making it possible to sell the calls again once they expire. I got around $2 for calls expiring next Friday.
If your stock doesn't get called away, repeat the process and you have just recovered over $4 of recent losses.
Its only a scam if they take it up to nosebleed levels. And I think we would all welcome such a scam at this point. We have had some false starts. Hopefully this rally is the real thing and gets us to the high $40s or even higher.
We would have if AMBA hadn't been clobbered afterhours. Our bump will probably be down $2 instead of $2.50. Bad timing, as GPRO was off its lows and beginning to come back some.
I don't expect this to be a good week after two huge recovery days last week and China worries picking up again. Sold the AAL $39 calls for $1 Friday, making a total of $4.70 per share on shares bought at $40. This only works in a tax sheltered account but is a good way to steadily make money if you can find a stock that trades in a range and has limited downside. GPRO is likely another stock that will work with this strategy, and has good premiums on options. You can achieve the same effect by selling the puts below where the stock is trading. I can't in my retirement account, but would if able to do so. You can sell the GPRO $46 puts expiring in 4 days ($1.05 below current price) for $1.20. Demand for GPRO still appears to be strong.
bears--Thanks! How far back does the bad blood go between you and stoxx? I don't know about those past picks, but the first time he mentioned FANG it went on a tear. And it would have worked again the second time if anyone kept buying more at lower levels, which of course is very dangerous with a falling stock. It only worked the second time (FANG) only because we had a confluence of factors that all helped the market to rocket higher--(China stepping in, Fed comments suggesting rate hike may not happen in Sept, and better than expected GDP numbers). All this together probably had many short running for the exits and propelling the overall market higher. Stoxx did hurt his credibility recently when he talked about making a big buy in AAL. If I remember correctly it would have amounted to around $2,000,000. I don't think anyone talking on message boards is buying in that size. I'll take a look at ADI and if I do buy any will do so carefully.
Haha. Hadn't even heard of force touch. My first thought was TASR, but that's a four letter symbol. Googled and read about it--sounds interesting. But I didn't find anything about who makes it for AAPL. I'm probably the only one here who wants to know, but am always open to investing/trading new stocks. I give up. What is it?