Social Chat - Short Term TSLA Movements

[Chickenlittle]

Really wish they would have reported last week like everyone else :crying:, since I sold my Jan15's last Wednesday after giving a week for analysts to report. Now I get to have fun figuring out at what point TSLA is low-valued for a reentry point someday.

I suppose the good news is I'll have no trouble waiting out the 30 days to avoid the wash rule now on the 50% loss I took on the Jan15s last Wednesday. And most everything is up today, so while I missed out on TSLA, the stocks I'm in still moved up, just not as much.

I cringe when reading your posts. Urge you to think twice or three times before jumping back into options. Bad luck, wrong personality or bad advise. Does it matter? Loosing money when you could have bought the stock and held on is clearly a better strategy for you

not trying to rub salt in wounds. Just see you getting more aggressive to try to make up losses.

 

[Norse]

My portfolio up 25%, but other than that nothing much.

{Flux runs off cackling with glee}

:biggrin:

Oh how I have missed these days!

 

[ckessel]

Just see you getting more aggressive to try to make up losses.

It's actually been the opposite. I've taken longer and longer option time frames to get more conservative. My first options a year ago were maybe 1-month, migrating up to 9 month (those were the J15 TSLA options I just mentioned), now it's mostly 2016 ITM (though no TSLA at this moment). The results have mostly been poor regardless as my timing is just miraculously bad somehow, no matter how much I ponder or wait or don't wait. Like last week, I (and others) were checking off which analysts had reported and it seemed like all the big players had reported, so I sold since that major catalyst was gone...except I guess we all forgot DB.

Losses are somewhat relative. I rode TSLA from $30-$150 or so before doing options. I cashed out probably 3x my initial investment, so I'll never "lose it all" so to speak. I'm certainly MUCH worse off than if I'd just held at $150 though. I've got about 25% of what I would have had, but again, that 25% that's left is all profit from before so while I regret the failures, I can keep some perspective on the overall results.

Those dollars from those failures are gone and I'm not looking to get more aggressive to make up the losses. As I noted, I've gotten more conservative rather than aggressive. Sadly, the more conservative approach hasn't changed the results much, at least not yet, but what I do next isn't affected by how well or poorly the last trade went. 2016 LEAPS still seem like a sound plan at some entry point and some strike level, the next question is whether or not I can successfully figure that out this next time.

And where I put the options money I cashed out last week is up 4% today. So while TSLA is up 5.25%, I'm not completely missing out.

 

[Johan]

ckessel be sure to let us all know when you buy in again, so all of us others can sell :tongue:

 

[Norse]

OT: Anyone know whats up with the Yahoo Finance badge to the right here? It does not seem to work.

 

[Robert.Boston]

OT: Anyone know whats up with the Yahoo Finance badge to the right here? It does not seem to work.

Do you have a filter on for ads, etc.? If so, and if you want to see the Yahoo price chart, you'll need to craft an exception to your filter's rules.

 

[Norse]

Do you have a filter on for ads, etc.? If so, and if you want to see the Yahoo price chart, you'll need to craft an exception to your filter's rules.

Nope, and I can not view it with my iPhone either.

 

[Wenche]

Sold my Jan16 135 option today for $133, bought for $38,34 in November last year :biggrin: Need to get down on margin, to be ready for the Jan17 options :smile:

 

[pGo]

Sold my Jan16 135 option today for $133, bought for $38,34 in November last year :biggrin: Need to get down on margin, to be ready for the Jan17 options :smile:

That's hack of a huge % you are giving back to uncle Sam. Why not do a spread and recover money you need and delay paying the bill with lower tax?

 

[Wenche]

That's hack of a huge % you are giving back to uncle Sam. Why not do a spread and recover money you need and delay paying the bill with lower tax?

In Norway we have 27% flat tax, regardless how long time you keep the options or stocks :smile:

 

[Jonathan Hewitt]

That's hack of a huge % you are giving back to uncle Sam. Why not do a spread and recover money you need and delay paying the bill with lower tax?

Yeah, Uncle Sam isn't his Uncle

 

[eepic]

Yeah, Uncle Sam isn't his Uncle

With-holding tax makes Uncle Sam all our (TSLA shareholders') Uncle

 

[Causalien]

In Norway we have 27% flat tax, regardless how long time you keep the options or stocks :smile:

So no matter how much you bring in per year, it's 27% flat? Say $10 000 income means $2 700 tax whereas $100 000 is $27 000 tax?

There's no difference in tax rate between capital gain, employment income, interest income and dividends?

 

[Wenche]

So no matter how much you bring in per year, it's 27% flat? Say $10 000 income means $2 700 tax whereas $100 000 is $27 000 tax?

There's no difference in tax rate between capital gain, employment income, interest income and dividends?

It's the same tax for capital gain, interest income and dividends, but for employment income you normally pay a much higher rate.

- - - Updated - - -

It's the same tax for capital gain, interest income and dividends, but for employment income you normally pay a much higher rate.

I suppose I need to pay uncle Sam, but due to an agreement with the Norwegian authorities, I will get the payment refunded on my tax pay bill

- - - Updated - - -

Yeah, Uncle Sam isn't his Uncle

Hers :smile:

 

[Jonathan Hewitt]

Hers :smile:

My apologies :redface:

 

[Causalien]

So am I right in assuming that investing benefit the rich more than the poor since the poor has lower income tax rate than investment tax.

 

[DriverOne]

That's hack of a huge % you are giving back to uncle Sam. Why not do a spread and recover money you need and delay paying the bill with lower tax?

Can you explain this spread strategy more? I thought once you sell & make a gain, you owe tax. How does a spread work to lower & delay the tax burden?

 

[Auzie]

Aliens and tax

I suppose I need to pay uncle Sam, but due to an agreement with the Norwegian authorities, I will get the payment refunded on my tax pay bill

I am curious if you really need to pay tax in US.

When opening IB and one other international shares account, I filled in W-8BEN form. That is Certificate of Foreign Status of Beneficial Owner for US Tax withholding. The form establishes that one is a non-resident alien or foreign corporation, to avoid or reduce tax withholding from US source income.

My understanding is that I will not be paying tax to US on my US capital gains. Perhaps the arrangement may be different in Norway. W-8BEN is US tax form, so it makes sense that such form is applicable to all US aliens, including Norway aliens.

 

[Robertj]

Hi Auzie

i agree .

Do non residents of the US need to pay US taxes on their IB trading ? Interesting question

if we have to pay US taxes , then the Double Tax agreement would kick in , meaning a credit in your home country for US
taxes paid

In NZ you would not normally get a refund if the US taxes were more than the NZ taxes

NZ taxes residents of NZ on US stocks to the extent you are taxable on a maximum of 5 % of the value of stocks at the end of the financial year ,
, plus 5 % of realised profits , that profit is taxed at the individual's tax rate ( max 33 % )

No capital gains taxes

Rob

 

[Jack6591]

JP Morgan Auto Conference in NY today. Any thoughts?