Im deep red on my SU contracts

80x 1/23 25c on SU paid $28,000 down $15,600 on them doh

yeah this is where I throw up a big ol IDK lol. I'm asking for further clarification, but as it stands, I should at least a $6k savings/reduction in what I owe this year... and YTD I have already exceeded 2020 in realized gains, so any break/advantage, I will jump at.

lol. That's interesting though. But yeah, if your tax advisor is telling you this is a better option, then he probably knows what's up. And I don't blame you. Taxes are a bitch.

What stock were you doing LEAPs/PMCC's on?You're right to question it so much, especially since it seems near impossible to ditch the status. Worst case, I get incorporated and trade/hold there, but like I said, my trading account will be for active trading. Maybe this will get me to contribute to my IRA to increase holds, but I'm more into real estate for long holdings so having access to capital is key for me.

Yeah, real estate seems really interesting. I wanted to get into it for a while, but never really moved on it. 2 biggest hurdles are the capital requirements and amount of work. I'm still basically poor status. Got a real late start on actually being financially responsible and saving. I know there are ways around using other people's money, like even using hard money loans, but that only makes the hustle that much more difficult. It seems like the hardest part is finding the properties where the numbers make sense and being able to scoop it up before someone else already has.

im doing PMCC on my UWMC and doing very well

I have 50x 12/21 5c and 20x 1/23 5c, also 1400 shares. Paid 3.60 for the 12/21 and 3.90 for the 1/23. Want to convert the rest of my 12/21s into 1/23s on a good day


I sold 84 calls for 4/16 at $1.17 and BTC them at 0.30

STO 84x May 9c for 0.80 each

will keep repeating monthly

RE is definitely not for everyone, and honestly right now it doesn't make sense on paper to get into it (at least in markets I am interested in). Unless you hire someone to manage it, it definitely can be a lot of work. I relocated to socal about 6 years ago, but my personal portfolio is 300+ miles away. I prefer to handle it all myself, but it can be a lot of stress if you need to take care of things and aren't around the corner to address it. For example, one tenant I had recently called me about a garbage disposal not working. I asked him if he can try hitting the reset button, and that I would walk him through trouble shooting. He straight up said "I would feel more comfortable with a professional taking care of this..." and refused to touch anything lol. So I had to spend $75 for a plumber to hit the fukking reset button... I could go on and on about what to expect and all that, and am more than happy to do so, if anyone here ever wants to go over this chit.

I've been looking for additional properties since the start of 2019, but the value just hasn't been there as prices go up, but rental rates are staying flat. Next move will be a multifamily investment with some partners, but that will be a substantial amount of capital.

Also hard money loans are a great tool to have for the right situations, but you have to be able to move quick to get to the point where you can refi, otherwise you're just throwing money away. Tremendous for flips/substantial improvements where a conventional loan isn't available.nice man. I wouldn't convert/exercise any until you are much closer to expiration. You will forfeit all extrinsic value. More money to be made in selling them outright.

Really depends on what your goals are. Is it going to be a rental? If so, what sort of ROI would you be looking at? I typically won't touch something unless there is a minimum of 3% return.
Example with very crude math:

Purchase price $600k
Down payment $150k (investment property loans require 25% down)
Mortgage on $450k at 3.5% $2021
3% ROI would be $4500/year, or $375/month, so I need to be able to achieve at least $2396/month

Now there are situations that I would deviate from this, primarily if it's a home that I would like to live in at some point in time. Depending on how far out that time frame is will determine how much lower my acceptable return limit would be.

For instance, I was looking at a home in an area it looked like we could end up in within the next year or 2. It was the perfect home, truly unique, checked all the boxes, etc, so to me it would have been worth it to have someone pay what my mortgage was, noprofitor even a slight hit out of pocket because they would be acting as a "reservation" system of sorts until we are ready to live there. If that time frame would have been more like 3-5 years, but I still fully intend on living there, I would maybe dip to 2%.

A big thing would be investors get hung up on when it comes to investment properties is the overall profit. But they ignore that someone is paying your mortgage for you. Like, lets say you have a $2k mortgage, but can only rent it for $1800. Tell me an investment where you can contribute X amount of dollars and have someone else contribute 900% of your monthly contribution!

2 final things...

1) Worrying about buying at the top is a valid concern, but it comes down to this. If it's a primary residence, would the mortgage be one you are comfortable with paying for the next 30 years? If so, who gives a chit the value goes down temporarily. If it's a rental, would a decrease in value of PURCHASE price drastically alter your RENTAL rates? More than likely, absolutely not.

2) with regard to the wait of getting the home, I don't believe you would be paying anything until the home is delivered with the exception of the deposit. How that would work when it comes to locking in a loan rate is another thing I am unsure about.

Closed out the 4/16 options for @ $1.15. Wasn't crazy about the action, and felt more comfortable just closing out at close to 50% profit, and opened

STO
RKT
6/18
$21.89p @ $2.3 x20

Unless I see a tremendous buying opportunity somewhere, I will let May and June CSP's run through expiration even if it looks like I will get assigned. Sub $20 is pretty hnnngggg tbh.

Only thing left this week is:

STO
TSLA
4/9
$700 @ 5 x2

These are my actual shares, not PMCC, and am hoping to get them called away to free up cash, and will continue do PMCC on my LEAPs.

This worked out great (for once), too good actually.

Closed it our early.

Closed these out for $.5. Definitely going to expire worthless, but want to make some moves and missing out on $100 for peace of mind is fine.

Already had
STO
TSLA
4/16
$705 @ $10
From my PMCC plays, but added an identical position so I can work on getting my 200 shares called away or premium farm.

Added to my PMCC plays, so now I am booked through the end of May, with 5 positions. I have 4 LEAPs, but will convert exposed positions to strangles if need be. If anyone wants to follow along, here is my set up

Spoiler!
mirin. I've eaten bags of dicks on call spreads lately... Thought for sure my WMT play would've worked, but nope. Salvaged it by closing the long and going to let the short expire. Will be just above break even lulz.

Sold a put in X today, $20 strike for $1.15.


Side note: Fidelity still goes by archaic old trash standards in cash accounts. I only have "level 3" options enabled right now (buy options, sell spreads, sell cash secured puts), and in order to use cash either to buy options or use as collateral for puts, it has to be fully settled. Meaning if I sell stocks to free up cash, it will be 2-3 days before it's cleared and I can use it as collateral to sell a put. I can't believe it's 2021 and this sort of nonsense garbage still exists.

Edited- Watch out for renters lol

@ chino3 - That $75 was the deductible from your home warranty I'm guessing? I've paid that about 8x now and 4 of the workers I paid ended up saying they couldn't do the job. Not sure how that is legal I guess I paid them to drive over so they could come to the front door for a check then leave.

^^^

Didn't even mess with the warranty, so just paid out of pocket and added it to my expenses for taxes.

The best thing I can suggest when it comes to renters is that credit is far more important than income. Meaning, if someone barely makes enough to meet your income criteria, but has ESTABLISHED and STELLAR credit, I will take them all day over someone who is ceo 10k/day but with chit tier credit, or even sub 700 tbh. The dude that is wage slaving, but has killer credit, takes pride and ownership of his life and responsibilities. The other guy is a ******* and doesn't give a chit about himself and especially you lol.

Back to options, PLTR demo day is next week. I'm pretty deep at $29 due to a CSP that I thought I would recover from quickly (WRONG), so hopefully we continue to see upward movement and then I can write some $30c's. I have a decent sized holding in my IRA, so would like to ditch these ones when possible.

i would not get into RE (rentals in-particular) because there is no recourse if someone doesn't pay, sure you could spend tons of time looking through apps, running credit checks but some people are just total scumbags. if you are planning on living in an area for two years or more I'd say buy because in that two years if you decide to sell you'd most likely break even or have a small profit (closing costs are pretty brutal). if you are a single tax filer the 10k write off limit for property tax + state tax is a big hindrance as well. if you are sick of living close to neighbors or sharing walls with neighbors who drink and yell all the time, a single story ranch style house is AMAZING but prices literally go up $500-$1000 per day (in my area). all the new houses are trash, low quality, no yard, can't fit vehicles in the garage, HOA...

back to options, I closed out my latest CC on T lol boomer stonks have chit premiums but i've made 13.7% return on Theta farming and dividends since 10/7/2020 (not counting equity appreciation). I am very pleased to make money on an equity that literally trades sideways af, always stays between 29-31. anyone wanting to ease into theta farming options i recommend T for that reason. I would never sell CC on my oil and gas stonks I love them too much!

Chino can you give me a reason I shouldn't sell IPOF July 12.5 Puts for $2.30 or so and buy July $10 calls for $1.10? The underlying IPOF shares are trading around $10.6 right now and have the $10 floor. Obviously they can trade below $10 potentially as far down at $9.60 which is rare, but does happen occasionally. On the flip side if a deal is announced and suddenly the underlying jumps to $12 it seems like it would be an easy collection no?

Seems solid enough just from a numbers view point, but I haven't followed IPO* enough to know what they might target. After plugging it into OPC it looks like your breakeven is $10.7 based on current figures.

http://opcalc.com/tbW

No idea what they'll get but I guess I would be banking on either rumors stirring, an announcement, or plain ol' FOMO to boost share pricing. To me, it doesn't seem like the values gotta get pushed up too far for it to work either.

Worst case with the CSP is you get assigned at near NAV and can sell aggressive CC's along the way. Doesn't seem like a bad idea with these premiums tbh

STO
TSLA Apr16 725C x 2
TSLA Apr16 760C x 2
TSLA Apr16 575P

Looking to net 1800 for the week. Still looking for a surprise pop to 800 if we close above 700.

Hope the 725c works out for you. As always with TSLA, it's so hard to predict, but it does seem to get a pop on Monday and/or Tuesday, and then fade the rest of the week.

As long as it closes above $705 this Friday, I will be happy.

from charts.

$707-709 is huge area that TSLA has to break.

it keeps bouncing off it every time hitting lower low. it moves in the first hour or so and than fades.

that being said close above $700 would be good fuel for rest of week.


.........................................

at end of day institutions can come in and just start buying up whatever they want

like they did last week with google / fb / msft / apple.

^^^
Boom! Closed above $700 so lesfugginGO! Kind of weird to be rooting for shares to get called away, but would rather work with my LEAPs




Also really fukkin hard to not touch DKNG right now... Any reason for the ongoing dip? Premiums are decent, might be worth it to open some CSPs

DKNG sell off might be due to March Madness ending. Not sure. There isn't any negative news that came out. Might been over extended. Usually when you see RSI over 80 it will get sold off.


edit: looking at DKNG chart. If it continues to drop it has biggest support are at: $52.8..$50.22..$48.84...$46...if any of those levels fail to hold it going sub $40.

if it starts to rise upside is $63 than $69 and $72.....

for some reason all gambling stocks are taking hit...penn gaming is pulling back also




.........................................


I am gonna say overall market participation is joke atm, breadth is weak as phuck.

If things are ripping its concentrated within 5-6 stocks.

Rolled my 725C up and out to Apr23 740C. Added 800 in total premium for the trade. I hope the 800 doesnt come too quickly. Lol.

lol just saw it hit $740. Let’s see if what I said earlier holds true that lately it’s had a pop on Monday and Tuesday and then fades. So I’d wait until Thursday before you make any other decisions.

$715 was my break even for this weeks covered calls. Oh well. Not gonna roll.

tsla resistance is $745

if it breaks that it will shoot up to $760 next.


not sure if it fades today imo.


I took position this morning 20 x $800C weekly lmao. got in at $1.2 now trading at $2.6ish.

fuark, nice play carbon!

So assuming my actual shares get called away, my next plays will be to ride out existing PMCC's, but if they look to be in jeopardy of getting called away, I will open a CSP to create a strangle. With these shares called away I will have more flexibility foraggressive plays like that.

As for an exit plan with my LEAPs, I'm not quite sure tbh. $944 would be a 100% return. So maybe after I clear all my calls for May, I sell one last CC at $950 for the end of the year. Currently 12/17/21 $950cc is trading at $91. If I can get into that position next month at at least $75....

get lucky from time to time. (already sold 10 calls to lock in profit just in case it fades)

this morning there was big buyer before open on TSLA so said phuck it...TSLA been trading sideways for months.




............


did you get into DKNG? you had good idea yesterday it seems to be turning corner again. might got oversold

I didn't. Got caught up in a gang of meetings and the trading day was gone by the time I was free. Might still be worth dropping a CSP or even a call spread (looking at 5/21 $65c/70cc)