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Same story. Read the thread, got word of the tweets, checked twitter and started cursing.
Highest short strike is 1000 so 18% OTM. Should be fine, right? RIGHT??
One would think if there was a major dip buyers will step in & should see a decent recoverySame story. Read the thread, got word of the tweets, checked twitter and started cursing.
Highest short strike is 1000 so 18% OTM. Should be fine, right? RIGHT??
Gary is annoyed. He’s bad at hiding it. He knows it’s not about Elon selling his shares, it’s about unforced errors for no reason.
Gary is annoyed. He’s bad at hiding it. He knows it’s not about Elon selling his shares, it’s about unforced errors for no reason.
At best, Elon he’s playing 4d chess on shorts and doesn’t care about collateral damage, at worst it’s an “SEC violation” we have to roll our eyes at for 12 months.
I can’t stand when people just can’t hold two things in their head at once 1) we love Elon 2) twitter poll is stupid
People are like “noooooooo not Brad Ferguson, don’t do it Brad, we can’t live without your twitter presence!!!”
Thanks that makes a lot sense!That’s because the January series are always the first ones to appear. As we get closer the quarters will follow, then the months and eventually the weeks.
For me it has, and here's how the math worked out.
Let's say you started with $10,000 invested in TSLA on Jan 1, 2020. Based upon Google Finance, that would be worth . . . $137,933.41 as of Friday close.
Now, with doing BPS/BCS/IC conservative trading of that $10,000 into TSLA options, it's pretty easy to get a 5-7% return per week, but let's say it's something even more conservative like 3% (and people here are doing multiples of that).
After the two years, you would be at $186,558.66 (assuming you take 2 weeks off per year from trading.
And year 3 . . . you would be up to $817,987.15.
Even with a modest return per week, it's exponential growth and the numbers get pretty crazy pretty fast.
Obviously if you start out with more than 10k and get a higher return than 3% per week, the numbers become staggering. Really REALLY staggering.
Prediction: Elon tweets results of 24-hour poll and clarifies his plan => net
Hopefully, like tweeting that any selling isn't happening tomorrow. Someone posted (on the other thread I think), that he has to file paperwork and sell months from now (don't know if that true).Prediction: Elon tweets results of 24-hour poll and clarifies his plan => net minimal effect on SP.
How do you get 5-7% return per week while being conservative? In my opinion, conservative means trading 20+% OTM, and maybe getting $1.5 premium on $200 spreads. That gives you a 1% return/week.Now, with doing BPS/BCS/IC conservative trading of that $10,000 into TSLA options, it's pretty easy to get a 5-7% return per week, but let's say it's something even more conservative like 3% (and people here are doing multiples of that).
Obviously if you start out with more than 10k and get a higher return than 3% per week, the numbers become staggering. Really REALLY staggering.
I moved to all cash (well, 95%) on Friday, and so far I'm loving it too (especially after Elon's tweet, smh). I probably qualify as a "big dog" investor now, as I hit my retirement target last week, and will be transitioning out of my job later this year.latest update on decision to sell TSLA in lieu of cash:
my cash/taxable acct has been 100% all-cash for a while and i it so much
- "no longer care" if SP is up or down; no emotional roller coaster ride with the ticker
- zero margin used; no threat of margin call; no margin fees; no margin maintenance; i have nothing to do with margin
- since i am only doing Credit Spreads (ie max loss pre-defined and cash reserved for it), then Option Buying Power is a fixed value throughout the day; no need to babysit it to ensure it doesn't drop
- i can open 2x more positions coz underlying gave me only 50% buying power, but cash gives 100% buying power
- as long as i watch the delta and be far OTM, there is less stress overall watching the acct (ie the acct total value doesn't swing as wildly as the SP)
- of course, positions can still go ITM; i spend more time now looking at the "list of all positions and their P/L%" than on the ticker candlesticks; spending more time doing analysis than babysitting
The overall experience is that there is less stress managing the trading acct. Income-wise, i expected to be earning less since i am far OTM (ie part of strategy of going for very high probability of success in exchange for low credits) but the opposite is true: the doubling of contracts made up for the "lost income". Because i am freed from margin, my nightly review is now more focused on "planning what to trade next" rather than doing margin maintenance.
Being an all-cash trader instead of an investor made focusing on wealth creation so so so much simpler: compounding slow and steady profits beating SP appreciation AS LONG AS i am not greedy and i do not chase better premiums.
Agreed with this, it's hardly like he's going to dump 19.3million of shares at open on Monday, I don't even think that's allowed for an insiderPrediction: Elon tweets results of 24-hour poll and clarifies his plan => net minimal effect on SP.