Social Chat - Short Term TSLA Movements

[Mario Kadastik]

Are you sure they are taxable? In Norway profits from Bitcoin trading is taxable just like stock/option profits (28%). However, whether proceeds from Bitcoin mining are taxable or not has not yet been determined:

Google Oversetter

Yes, I specifically asked if mining profits are taxable and if I could discount the mining equipment costs. It becomes taxable the moment the BTC turns to EUR or any other fiat and there is no discounting of expenditures for private persons. So all the BTC that I've turned into EUR I have to pay taxes on. It's the same flat income tax of 21%, but I'm not 100% sure into which field to write it Also I have no records of when I did the conversions because Mt Gox went bankrupt and that was some of the transactions so I'd have to say that over the year I earned X amount of EUR from BTC and I'll pay taxes 0.21*X, but it'll be interesting for sure...

 

[AlMc]

Almost done with my taxes. I think I need to hire an accountant in the future. I have to pay... a lot of taxes. This hurts so much. Why can't every country become Estonia. Or just allow us to use LIFO accounting method would be better.

Sorry, just ranting. BTW, people on this forum should begin doing their taxes. Judging from the amount of options and people new to options, there's going to be a lot of headache.

Taxes definitely s**k, but the only way of getting out of paying tax is NO profit or a loss.

 

[gym7rjm]

Yes, I specifically asked if mining profits are taxable and if I could discount the mining equipment costs. It becomes taxable the moment the BTC turns to EUR or any other fiat and there is no discounting of expenditures for private persons. So all the BTC that I've turned into EUR I have to pay taxes on. It's the same flat income tax of 21%, but I'm not 100% sure into which field to write it Also I have no records of when I did the conversions because Mt Gox went bankrupt and that was some of the transactions so I'd have to say that over the year I earned X amount of EUR from BTC and I'll pay taxes 0.21*X, but it'll be interesting for sure...

Nice! congrats on the BTC gains!! I actually just bought a lot more when it dipped into the low $500's. I was going to write about it in the "Other Tech Stocks" thread, but decided not too because my previous posts on Bitcoin didn't really garner much attention.

 

[austinEV]

Nice! congrats on the BTC gains!! I actually just bought a lot more when it dipped into the low $500's. I was going to write about it in the "Other Tech Stocks" thread, but decided not too because my previous posts on Bitcoin didn't really garner much attention.

There is a bitcoin thread in "off topic". You can go nuts there.

 

[sleepyhead]

I just bought some TSLA weeklies $265 when it dipped below $255. Seems like a good entry point to me for today.

 

[austinEV]

I just bought some TSLA weeklies $265 when it dipped below $255. Seems like a good entry point to me for today.

I got $260 weeklies. GL.

 

[pz1975]

I bought some 265s for next week. I find that when I buy weeklies for 'this week', on average they don't do as well as when I buy them for 'next week', obviously because it gives more time for the expected jump before the time decay crashes.

 

[Causalien]

I ended up not adding and just roll with my current positions. I have a simple rule of reducing my exposure as much as possible when I am traveling. So good luck to all.

 

[vgrinshpun]

Well, everybody seems to buy weeklies, but I have a different strategy, making bigger mostly mid-term bets. Between the today's notes from Morgan Stanley (upside to $320PT if battery cost is reduced to $150/kWh or less) and Deutsche Bank (Tesla is likely to beat street expectations on margin in 2014 and 2015), TSLA seems to be on a verge of another break-out.

So I bought sizable chunk of $265 June 21 calls with portion of the proceeds from sale of March 22 $190 calls last Wednesday, with hopes to establish cost free time delayed spread. Already hold June 21 $215-270 spreads at a net credit of $2.

 

[Chickenlittle]

did anyone else catch on cnbc this am ceo of autonation bringing up tesla and how they will not participate in dealers association challenging tesla selling by their current model. he sees no problem with the way they sell and hopes one day his phone rings with tesla proposing to use his network of dealers. wow what a crack in the wall. although he will be waiting a long time.

 

[AlMc]

Well, everybody seems to buy weeklies, but I have a different strategy, making bigger mostly mid-term bets. Between the today's notes from Morgan Stanley (upside to $320PT if battery cost is reduced to $150/kWh or less) and Deutsche Bank (Tesla is likely to beat street expectations on margin in 2014 and 2015), TSLA seems to be on a verge of another break-out.

So I bought sizable chunk of $265 June 21 calls with portion of the proceeds from sale of March 22 $190 calls last Wednesday, with hopes to establish cost free time delayed spread. Already hold June 21 $215-270 spreads at a net credit of $2.

The longer I am on this forum the more I realize that TSLA works for almost ALL strategies, except shorting.:biggrin:

 

[vgrinshpun]

did anyone else catch on cnbc this am ceo of autonation bringing up tesla and how they will not participate in dealers association challenging tesla selling by their current model. he sees no problem with the way they sell and hopes one day his phone rings with tesla proposing to use his network of dealers. wow what a crack in the wall. although he will be waiting a long time.

He seemed to be talking from both sides of his mouth, as he could not resist the urge to back-slap TSLA, ridiculing valuations without anybody asking him a question about it.

 

[austinEV]

For the record I almost never dabble in weeklies, except for when I think a catalyst is coming this week. This weekly position I bought is 0.2% of my portfolio.

 

[uselesslogin]

Well everyone, I just want to say thanks for all the info provided here. I may not be able to retire yet but my portfolio has doubled since last year and without this forum I don't think I would've ever had enough faith in TSLA to make it my largest holding. You will all probably think me crazy since so many of you are short term traders but as a Catholic I am giving up stocks for Lent. Mind you, I am not selling any TSLA or any other stock or LEAP that I own, but I am not going to be logging onto forums or brokerage accounts and most importantly there will be 0 transactions in my account until April 21st. While the Easter Bunny may be bringing my son candy I'm very much hoping he brings me a nice surprise when I open up my brokerage account for the first time after a month and a half. So good luck everyone and I'll see you in April!

 

[sleepyhead]

Well everyone, I just want to say thanks for all the info provided here. I may not be able to retire yet but my portfolio has doubled since last year and without this forum I don't think I would've ever had enough faith in TSLA to make it my largest holding. You will all probably think me crazy since so many of you are short term traders but as a Catholic I am giving up stocks for Lent. Mind you, I am not selling any TSLA or any other stock or LEAP that I own, but I am not going to be logging onto forums or brokerage accounts and most importantly there will be 0 transactions in my account until April 21st. While the Easter Bunny may be bringing my son candy I'm very much hoping he brings me a nice surprise when I open up my brokerage account for the first time after a month and a half. So good luck everyone and I'll see you in April!

Congratulations and good luck.

BTW, that would sound like the worst punishment for half the people on this forum :smile:

 

[Johan]

Well everyone, I just want to say thanks for all the info provided here. I may not be able to retire yet but my portfolio has doubled since last year and without this forum I don't think I would've ever had enough faith in TSLA to make it my largest holding. You will all probably think me crazy since so many of you are short term traders but as a Catholic I am giving up stocks for Lent. Mind you, I am not selling any TSLA or any other stock or LEAP that I own, but I am not going to be logging onto forums or brokerage accounts and most importantly there will be 0 transactions in my account until April 21st. While the Easter Bunny may be bringing my son candy I'm very much hoping he brings me a nice surprise when I open up my brokerage account for the first time after a month and a half. So good luck everyone and I'll see you in April!

Good luck! Would it be against your religious conviction to put in a stop-loss order? A trailing stop? Some more complex form of delayed order? Just curious, since this is the first I've heard of stock market celibacy for Lent.

 

[pz1975]

Well everyone, I just want to say thanks for all the info provided here. I may not be able to retire yet but my portfolio has doubled since last year and without this forum I don't think I would've ever had enough faith in TSLA to make it my largest holding. You will all probably think me crazy since so many of you are short term traders but as a Catholic I am giving up stocks for Lent. Mind you, I am not selling any TSLA or any other stock or LEAP that I own, but I am not going to be logging onto forums or brokerage accounts and most importantly there will be 0 transactions in my account until April 21st. While the Easter Bunny may be bringing my son candy I'm very much hoping he brings me a nice surprise when I open up my brokerage account for the first time after a month and a half. So good luck everyone and I'll see you in April!

Give us your phone number - we'll call you if a meteor hits the Tesla plant!

 

[MikeL]

Yeah, don't worry, we'll watch your shares for you. Which ones are yours? :wink:

 

[uselesslogin]

Good luck! Would it be against your religious conviction to put in a stop-loss order? A trailing stop? Some more complex form of delayed order? Just curious, since this is the first I've heard of stock market celibacy for Lent.

The idea is to make more time for God. As far as the rules of the church go giving something up like this for Lent is voluntary so I can make my own rules. I would do a stop loss if I thought I needed it but I don't normally do them anyway. I'm pretty sure a coworker will tell me if something crazy happens. It wouldn't be against my religious convictions to log in and evaluate things if I get wind of some major negative catalyst but I will contain myself if I hear of positive things.

 

[gg_got_a_tesla]

Be wary of a stop-loss order. Here's a recent cautionary tale courtesy yours truly.