November 2013 Trading/LC Thread - Page 3 - Business, Finances and Investing Forum

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November 2013 Trading/LC Thread

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11-07-2013 , 06:45 PM

#51

cky23k

journeyman

Join Date: Apr 2008 Posts: 348

Quote:

Originally Posted by rafiki

GRPN after hours is wow. What a meltdown.

Sharp reversal, up 7% now.

Quote

11-07-2013 , 07:23 PM

#52

Truthsayer

banned

Join Date: Nov 2012 Posts: 2,251

Quote:

Originally Posted by MyrnaFTW

agree, but not by tomorrow. (below 130 imo)

Short sale restriction ends tonight. Lots of bearish sentiment on this stock. Could easily see this driving down further.

Quote

11-07-2013 , 07:51 PM

#53

BigBiceps

Carpal \'Tunnel

Join Date: Mar 2004 Posts: 6,205

Quote:

Originally Posted by Mori****a System

I have one short idea that I've been considering but I really don't know what the right play for it is as I rarely short things seriously.

The company is ACTG. I am fairly certain that they will eventually collapse to something less than half of what they are worth now but I cannot determine the timeframe of when that will happen.

Anyone else look at it?

Looks like a pretty bearish chart, but I know nothing about the company or its fundamentals.

Another stock I follow is PDLI which is in a similar space if you wanted to hedge it somewhat. (I have no position in either stock, nor have any plans to trade either stock).

Quote

11-07-2013 , 08:14 PM

#54

BigBiceps

Carpal \'Tunnel

Join Date: Mar 2004 Posts: 6,205

I got a couple of technical questions if anyone knows the answers ...

1) VXX 4-1 reverse split tomorrow, are the options I own and wrote for 11/15, converted to something, or is each option for 25 shares instead of 100?

2) If I write some covered calls for sometime 2014 on SLV, do I have to report the premium received as a capital gain in 2013?

Quote

11-07-2013 , 09:40 PM

#55

BrianTheMick2

Long way to go and a short time to get there.

Join Date: May 2012 Posts: 19,446

Quote:

Originally Posted by BigBiceps

1) they will become non-standard options. This kind of sucks for you because the bid-ask spread will go up.

2) you only report when the options are exercised or sold.

Knowing what you own and are short, you had a nice day today.

$20 bucks says that you don't hold municipal bonds for a year.

*I meant to tell you something or other about why VXX is a losing play right now. It had something or other to do with contango/backwardation. Basically, you are fighting about an 8-9% headwind recently.

Quote

11-07-2013 , 10:12 PM

#56

SuperWhale

adept

Join Date: Feb 2007 Posts: 1,075

Quote:

Originally Posted by BigBiceps

I got a couple of technical questions if anyone knows the answers ...

1) VXX 4-1 reverse split tomorrow is each option for 25 shares instead of 100?

Yes, the standard contracts you have now will change to 25 share contracts

Quote:

Originally Posted by BrianTheMick2

1) they will become non-standard options. This kind of sucks for you because the bid-ask spread will go up.

Also correct, although I think this effect gets worse as time goes on after the split so you could roll to standard contracts

Quote

11-08-2013 , 11:31 AM

#57

MyrnaFTW

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Join Date: Nov 2011 Posts: 7,813

Quote:

Originally Posted by rafiki

GRPN after hours is wow. What a meltdown.

thanks for the jinx man.. I guess i underestimated the power of mobile apps in various stocks.

Quote

11-08-2013 , 11:41 AM

#58

Truthsayer

banned

Join Date: Nov 2012 Posts: 2,251

Still time to get into TSLA puts man. An end of day selloff and you make big money. It couldn't even get up when SPY was rallying 60 points in the first hour.

Quote

11-08-2013 , 12:43 PM

#59

Truthsayer

banned

Join Date: Nov 2012 Posts: 2,251

Up 220% since recommendation. Set a stop and you have 50% profit + a risk free shot at several hundred K.

edit: 300%. That was fast.

Quote

11-08-2013 , 12:46 PM

#60

BigBiceps

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Join Date: Mar 2004 Posts: 6,205

Had my best day in months yesterday. ...
Today is the worst day in months

... so far

This market is more rigged than Absolute Poker.

Quote

11-08-2013 , 12:47 PM

#61

MyrnaFTW

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Quote:

Originally Posted by Truthsayer

Still time to get into TSLA puts man. An end of day selloff and you make big money. It couldn't even get up when SPY was rallying 60 points in the first hour.

JC TS , buying at the open would have caused a three bagger already. good call, but you still think it breaks below 130 ? otherwise you are flushing what is a big gain.. you have to cover some here no?

Quote

11-08-2013 , 12:51 PM

#62

jb514

veteran

Join Date: Oct 2009 Posts: 2,837

what TSLA puts are you looking at? Closed out EBAY spread for a tiny profit since the thesis is falling through. Ok with it since I crushed it on the upside

Quote

11-08-2013 , 12:53 PM

#63

MyrnaFTW

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Quote:

Originally Posted by jb514

what TSLA puts are you looking at? Closed out EBAY spread for a tiny profit since the thesis is falling through. Ok with it since I crushed it on the upside

he was buying the tsla 130 puts at under 10 cents, worth 50 cents right now. but it also has a high chance of being zero by 4pm as they expire today.

Quote

11-08-2013 , 12:55 PM

#64

Truthsayer

banned

Join Date: Nov 2012 Posts: 2,251

I'm happy to lose $20K. It's an asymmetrical payoff with a symmetrical distribution, it's a no brainer to hold. I did set a stop though at 100% profit (i.e. when the $130 hits 16c). This could very easy (20+% IMO) panic sell down to $125. We'll see. Recovering a bit now which is worrying. Got some cheap calls too, just a few K. The options are incorrectly priced.

Quote

11-08-2013 , 12:56 PM

#65

jb514

veteran

Join Date: Oct 2009 Posts: 2,837

Quote:

Originally Posted by MyrnaFTW

he was buying the tsla 130 puts at under 10 cents, worth 50 cents right now. but it also has a high chance of being zero by 4pm as they expire today.

I bought some as a lotto ticket. I think TSLA could bounce quite a bit, but I'm still net bearish

Quote

11-08-2013 , 12:58 PM

#66

MyrnaFTW

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Quote:

Originally Posted by Truthsayer

I'm happy to lose $20K. It's an asymmetrical payoff with a a symmetrical distribution, it's a not brainer to hold. I did set a stop though at 100% profit (i.e. when the $130 hits 16c). We'll see.

ohhh, was not aware you had a stop set,, figured it was all or nothing for you .. this thing has to drop at 50-60 cents a half hour for it to stay at current price

Quote

11-08-2013 , 01:03 PM

#67

jb514

veteran

Join Date: Oct 2009 Posts: 2,837

don't you mean symmetrical payoff with asymm distribution? Actually have the same trade on as you just for ****s though

Quote

11-08-2013 , 01:06 PM

#68

Truthsayer

banned

Join Date: Nov 2012 Posts: 2,251

I think you jinxed me...both SCTY and TSLA just had the mother of all spikes, 3% in ten minutes.

Quote

11-08-2013 , 01:07 PM

#69

MyrnaFTW

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Also, maybe because my finances have gone a 180 (25% market related), i think leaving 15k on the table seems like the wrong move, but with a big roll, its not really much.

Quote

11-08-2013 , 01:08 PM

#70

MyrnaFTW

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Quote:

Originally Posted by Truthsayer

I think you jinxed me...both SCTY and TSLA just had the mother of all spikes, 3% in ten minutes.

i have been getting jinxed all month.. the whole market spiked the last 20 minutes.

Quote

11-08-2013 , 01:10 PM

#71

jb514

veteran

Join Date: Oct 2009 Posts: 2,837

just sold the calls and doubled down on the puts

Quote

11-08-2013 , 01:15 PM

#72

Truthsayer

banned

Join Date: Nov 2012 Posts: 2,251

Both Musk companies, SCTY and TSLA still getting bought up huge...not sure that's a good play. SCTY is ****ing nuts, but I can't find any news on it. Algo? Fund?

Quote

11-08-2013 , 01:43 PM

#73

MyrnaFTW

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Quote:

Originally Posted by Truthsayer

Both Musk companies, SCTY and TSLA still getting bought up huge...not sure that's a good play. SCTY is ****ing nuts, but I can't find any news on it. Algo? Fund?

must be a fund,, seems like an upgrade possibly as well, cant find any news either, so most likely a fund after yesterday's drop , buying shares below 50.