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My avg price is also something like that. I'm fine with being underwater for a year or two. I just sell CC, call spreads or put spreads (or puts). Recently I also let CC get exercised for tax loss harvesting. Yet to re-enter ...Guys, i dont know what to do. My average price is 297/share. I have 3200 shares of TSLA...
for now i am just selling OTM covered calls but im just stuck holding on to my losses
any advice or suggestions?
My advice would be, be careful with selling calls, especially since premiums on short term calls are shitty. Bear in mind the delta of the calls you sell according to the volume of shares you have. Even OTM calls can quickly get ATM or even ITM. Then delta and gamma explode.Guys, i dont know what to do. My average price is 297/share. I have 3200 shares of TSLA...
for now i am just selling OTM covered calls but im just stuck holding on to my losses
any advice or suggestions?
Depends whether you need cash in the coming years or not. Long term (5+ years) I think all will be fine, short term I'm rather bearish (6 months), medium term (between the two), no idea....Guys, i dont know what to do. My average price is 297/share. I have 3200 shares of TSLA...
for now i am just selling OTM covered calls but im just stuck holding on to my losses
any advice or suggestions?
thank youMy advice would be, be careful with selling calls, especially since premiums on short term calls are shitty. Bear in mind the delta of the calls you sell according to the volume of shares you have. Even OTM calls can quickly get ATM or even ITM. Then delta and gamma explode.
Maybe consider buy bull put spreads on your position. You receive better premiums than selling covered short calls.
Guys, i dont know what to do. My average price is 297/share. I have 3200 shares of TSLA...
for now i am just selling OTM covered calls but im just stuck holding on to my losses
any advice or suggestions?
It may be a little bit late now but you can still try it if you are willing.thank you
I will consider this
selling covered calls is indeed almost not worth it compared to the risk that I am taking. I usually sell 30% OTM 30 days expiry and try to sell for a $1 per contract. I have had luck with making money on these, avoiding the rocket ships in between when selling calls
I read this last night as well, good thread - very thorough and makes sense.Interesting thread on how the next Fed announcement on Wednesday may not include the eventual pivot that markets are expecting. The long story short is that Powell is likely to want to follow in Volcker's footsteps and avoid associations with a 1970s Fed chair that failed to curb inflation by pivoting when unemployment rose:
I read this last night as well, good thread - very thorough and makes sense.
This in addition to the data from the "prank call" with Powell and Zelensky makes me sure that they are going to raise rates now (I know I said pause 2 weeks ago but new data, new mindset)
Just not sure how the market reacts, so far the market has been saying that they don't believe Powell and the Bond market is in the same camp.
Maybe buy some really cheap OTM Puts on the SPY about 6 months out and see what happens for insurance?
I think the market is 50/50 between a pause/.25 right now. Even though .25 is not too bad, but it will be all about the rate projection in the upcoming months.I read this last night as well, good thread - very thorough and makes sense.
This in addition to the data from the "prank call" with Powell and Zelensky makes me sure that they are going to raise rates now (I know I said pause 2 weeks ago but new data, new mindset)
Just not sure how the market reacts, so far the market has been saying that they don't believe Powell and the Bond market is in the same camp.
Maybe buy some really cheap OTM Puts on the SPY about 6 months out and see what happens for insurance?
September 15th $400 SPY Puts - $10.63 each this morning. Only got a handful as this is a hedge.What strike puts are you thinking?
There is zero reason to cut rates this year (unless we see a huge dip in economy). Infact I don't think he will even say this is the last rate cut. He will just say they will do what data tells them.Interesting thread on how the next Fed announcement on Wednesday may not include the eventual pivot that markets are expecting. The long story short is that Powell is likely to want to follow in Volcker's footsteps and avoid associations with a 1970s Fed chair that failed to curb inflation by pivoting when unemployment rose:
There is usually no more than one dissenting vote on the Fed. They do a lot of debate and discussion of the data before the vote. I think they should hold, but the .25 change is likely. The fed tends to over shoot, but in part it is needed. Businesses will keep going for higher margins until the fed drives us over a cliff. I don't see a lot of evidence of my supply chain saying, we will give you 5% back, we went too far.There is zero reason to cut rates this year (unless we see a huge dip in economy). Infact I don't think he will even say this is the last rate cut. He will just say they will do what data tells them.
BTW, why do people keep talking about Powell, as if he is the sole authority ? Doesn't it go by the vote and majority can out-vote Powell .... much like chief justice in Supreme Court ?
Gary thinks SP will be between 150 and 200 for some time. That sounds likely ... barring major news (Tesla always has some major news, though).Might I be right in a month (144 or lower in exactly five weeks) and @dl003 too (250 later this year): I will on betting on both deeply to get me a new model Y LR by end of the year, only costing me around the €28.000 that I hope to get for my MODEL 3 in june. Just have to deal a few months with no car of my own..
I think his major reasoning is 5 24 EPS @ 30-40 PE. Sounds reasonable to me now, but we all know stocks aren’t completely explainable and certainly not TSLA.Gary thinks SP will be between 150 and 200 for some time. That sounds likely ... barring major news (Tesla always has some major news, though).
To break out of this - we need some major development.I think his major reasoning is 5 24 EPS @ 30-40 PE. Sounds reasonable to me now, but we all know stocks aren’t completely explainable and certainly not TSLA.