I was able to do that.
Why do we NEED to see anything? That’s BS and why I hate technical analysis. It’s one thing to point out likelihoods based on historical patterns rooted in psychology or how macro algorithms work, but to put an absolute on things is stupid.
What about buying LEAPs with the cash, and then selling them when they appreciate enough to buy 2000 shares? Would that be pretty low risk? Would that be fairly easy to calculate with the Options Profit Calculator?
Thank you. Misery loves company. It's the regret that I worry about more than being adversely affected by the monetary loss. Always thinking about that mistake, and kicking myself for it.
Nobody knows anything
Nobody knows anything
I feel without further news, SP will follow the market. That means up or down ….
I’m also looking for information and data re rolling LEAPs (Jan24 $350+) that have dropped 90% in value. A few people have suggested rolling 6 months pre-expiry (perhaps in part trying to time a possible mid-2023 high). At current prices, I’d lose 80+% of the number of contracts if moving to Jan25$160, but I’m just trying to rescue total value not looking to pick up shares. Any further comments would be appreciated.
One decision is to act before or after CPI next week
Yes and the funny thing is none of these TA experts know anything about the company. So to make these bold predictions of W-5 without thinking about the catalysts is just plain wrong. I do think there is value in understanding how institutional bots trade.
So if you're going to sell at the bottom, then it's really only a good move if you're going to turn around and buy LEAPs. Maybe I didn't make a mistake after all, but of course the problem is we don't know if this is the bottom. One thing we can agree on is we are a lot closer to the bottom than we were two years ago when people were excited about LEAPs at the 200 level. So I'm thinking about lowering my exposure by buying back 1,000 shares at a loss and then buying LEAP's with the remaining $100,000. Also waiting a bit to make sure we actually bottomed out.
There are always sellers, unfortuantely. Margin calls, greedy shorts ...
Ok, you did the “right” thing for you. Every investor has an unable to sleep level, and yours was triggered. Don’t, compound your selling fear with another FOMO error, buy buying back at a higher price. Instead, re-evaluate and verify your risk tolerance, then proceed slowly. Personally, I’m upset by last year’s drop, kicking myself for not selling when Elon sold, but we cannot know the future.
My “non-advice” is to sell weekly cash-secured puts. Maybe not all at once. You could sell 4-5 contracts every day, trying to time the morning dip for maximum premiums, which will spread out the risk and rebuild your confidence. Next week’s 104s were at $1.65. If you get that every week, it’s about $80-$85 for the year, bringing you back to an equivalent $185-$190 SP. Not bad return from here. Worst case you lag behind the SP rise or you eventually get put the shares by a big drop in SP. At least it should help you sleep and avoid the mistake of selling low and buying high. Good luck.
Definitely the right place to learn.
It's a given, though its also something we like to repeat frequently.
I’ve been telling myself that for the past 6 months. Twice I sold some cc’s and both times I closed them out for a loss (both sets would have expired worthless too). I don’t have the stomach for selling them, especially at these annual lows.
What if I just bought 20 contracts every Monday morning at the same time? My job doesn't really allow me to follow the market that closely. How would I decide what strike price to buy at? If the stock has a major breakout wouldn't I just get left behind in the dust? What do you mean by bring back to equivalent $185 - $190 stock price?
