Congrats dude

Congrats!
Interesting chart.

VRX though... earnings and guidance sound promising like last week may have been bottom. Loaded some up pre-mkt @10.89 to see what happens

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7th time this year I am selling puts on TSLA (260 June)

Ultra high variance AND --EV. That's like the holy grail of antitrading. GL though, I like a man who puts his balls out there.

in XON and gonna hold half overnight. like the R/R here

NAK back on the radar. Likely settlement with the EPA coming shortly. It's been on a little rip since late last week and should be primed to run soon.

NVDA is crushing (still). Guidance for rest of 17 and beyond is next level

Selling delta 5 puts on underlyings that are close to making a new alltime high in a bull market is not exactly high variance...

Daytrading (or Value Investing for that matter) are not my forte, but I was requested to make this post on behalf of a friend, whose cousin is insisting that he buys a stock with ticker IMUN. The cousin has stated many times in the past that he's confident the stock is going to shoot up soon, but then it doesn't really materialize. He is insistent that it will happen soon after the company announces they've started selling in Nigeria. He says they are awaiting receipt from Nigerian FDA on a lab inspection for a manufacturing plant. The cousin is invested VERY heavily at this point. My friend was invested but then pulled out with some small losses months back.

If it helps, here's a message I was told I can post of the cousin arguing in favor of the stock:

If some of the experts here could give their opinion on the stock after having a look at it that would be very helpful.

You sold them for 80c??? That's insane, man.

In the last 3 years, TSLA have had the following retraces on a month and a bit time frame (the length of your puts):

- 34% (after a big run in a bull market) - this would lose you 50x your money
- 20% (twice, once after a big run in a bull market) - this would lose you 4x your money
- 37.5% (after some sideways stagnation) - this would lose 65x your money

Tesla is ripe for correction if anything goes wrong - market or Tesla-related - and could easily be under $250 in a month and a bit.

You might say "oh, but I'll cover". And maybe you will, although the big moves will often catch you flat footed. But you will lose multibags doing it, even if Tesla goes up and your puts would have paid, so it all evens out.

You are taking a -EV spot at huge variance. Looking at the above, if you held until close, you're 1 in 8 to lose on average 20x your money if you sold them for $1 earlier today. If that's not huge variance then I don't know what is. You're not +EV here. Sell puts when Tesla is irrationally pessimistic and the market has sold down a ton and implied volatility is high, not when VIX is a record low 9.7 and the tech betas have run up 30% on air in a few months.

I sold them for 1.47

Heard this was a fraud?

And I am obviously not gonna let my position run against me like you described. I adjust my position when it's 200% against me or when it touches my strike.

OK, so you sold them two days ago and are telling us now that it's run up for a couple of days and you've made nearly 50%. Or you sold the later ones, Jun 23rd.

Well, that's less horrible at $1.47, but still a crap spot imo. GL with it though.

50%? I wish...Last price was 1.28. And yeah, because of low volatility it's a small position, like 0.3% of my option selling account (I usually do 1%)
If market or TSLA makes a correction, I can easily roll into a later month with higher volatility.

Easily... until you max out your margin. I mean, at least you're not selling nickels. I knew guys who lost their jobs for the one time that trade went wrong.

Selling naked options always works! Until it doesn't And when it doesn't they carry you out in a pine box. I have seen plenty of guys back in the day when I was in the options pit lose it all in one fell swoop. Just not worth the risk of ruin. They will get you sometime when you least expect it. Cover it, spread it or cap it but don't be exposed when you don't have to be, especially in something as volatile as Tesla.

That is bad. Risk management is important since the only thing we can control is our risk.

nice. I think VRX might squeeze.

Hard to fault the risk when he's only in for 0.3%. That's excellent risk management. It's purely a matter of EV. Still. With this trade, losing a 50 bagger in a way in which he can't/won't sell out is at least 1% over the next month and a half if you add up all the risks.

Just had my eye on it and it was breaking out towards the end of the day so I jumped in. They have earnings EOD tomorrow. I'm not familiar with the company, i'm certainly not holding through earnings.

This ticks off many "warning" boxes... Nigeria, repeated dilutive financing, recent AT lows, etc.

Looking at the chart, there is no real reason to recommend this stock, at least not at this time. The best I can say is that there was ATH volume at those recent lows, but that is far from enough.

It is a really poorly done pump and dump. Not particularly interesting.

You think that quarterly earnings reports matter even the slightest little bit for a development-stage biotech company? And you like your r/r for an overnight position in this company of which you aren't familiar. Interesting.