the Stock Market
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HarmonicaBruce
Well-known member
UCO, that's a crude oil etf, was over $40 less than a year ago.
It tumbled in December, and I bought some on 12-15 for 11.21, and sold 1-17 $12 calls for .90.
But, it kept going down, and on 12-26 I bought more for $10.95, and sold 2-20 $12 calls for $1.17.
Kept going down, and on 1-8 I bought more at $8.47
Kept going down, on 1-20 I bought more at $7.68
On 1-21 I sold some 4-17 $11 calls for .50.
Kept going down, on 1-28 I bought more at $6.96.
On 2-3 I sold some 4-17 $10 calls for $1.
Right now it's at $8.07. Now you'd think I was hurting, after paying 11.21 and 10.95, but actually my average cost is $9.44. But, if I figure in the premiums I received from the calls I sold, my average cost is $8.42.
It would be pretty hard to lose buying in at $8. I was a little too anxious.
I sold almost all my stocks. The problem with stocks is they can go to zero, like radio shack (11 cents and falling). Oil, gold, silver can't go to zero. So, if you keep buying while it goes down, it has to go back up eventually. And right now the premiums for UCO calls is very large.
It tumbled in December, and I bought some on 12-15 for 11.21, and sold 1-17 $12 calls for .90.
But, it kept going down, and on 12-26 I bought more for $10.95, and sold 2-20 $12 calls for $1.17.
Kept going down, and on 1-8 I bought more at $8.47
Kept going down, on 1-20 I bought more at $7.68
On 1-21 I sold some 4-17 $11 calls for .50.
Kept going down, on 1-28 I bought more at $6.96.
On 2-3 I sold some 4-17 $10 calls for $1.
Right now it's at $8.07. Now you'd think I was hurting, after paying 11.21 and 10.95, but actually my average cost is $9.44. But, if I figure in the premiums I received from the calls I sold, my average cost is $8.42.
It would be pretty hard to lose buying in at $8. I was a little too anxious.
I sold almost all my stocks. The problem with stocks is they can go to zero, like radio shack (11 cents and falling). Oil, gold, silver can't go to zero. So, if you keep buying while it goes down, it has to go back up eventually. And right now the premiums for UCO calls is very large.
HarmonicaBruce
Well-known member
gojo said:
I've been having trouble with the upgraded software as well.
No, I don't have any method. I just try to keep buying while it's going down, and sell covered calls.
HarmonicaBruce
Well-known member
gojo said:
I've been having trouble with the upgraded software as well.
No, I don't have any method. I just try to keep buying while it's going down, and sell covered calls.
HarmonicaBruce
Well-known member
Wow, you are a gambler. I don't understand SOGC, according to Yahoo financial, the stock price was $25,000 / share this year, and now it's 7 cents. I don't get it. "Earnings" will be announced in the next few days it seems. I hope you hit it big, if it goes back to $25,000, you'll be a billionaire! I did the math. But, it might be more likely that it goes to zero, where most stocks eventually go.gojo said:
HarmonicaBruce
Well-known member
SDRL is having a big day, up 7% to 14.20. I sold some June 19 $16 calls for .38 (after commission), so I'm feeling pretty good about it. I bought SDRL at $16.32, and it went under $10, but it will come back! UCO (oil) is up big, over $10.
Yes, Seadrill did great today. Figures, since I got out of it. 
I bought Seadrill first at $23 (and sold $25 Jan 2016 calls against it for $3) then on the way down at $16.
I recently rebought the 2016 $25 calls for $0.15 and sold all the stock for $12.50 to $13. Whoops, a bit early there.
I made money with the proceeds, so it is all good.
My IRA where I did this trading was $102,000 last year when I first purchased the Seadrill and today is $101,500 so I managed to claw my way back to pre oil crash levels with biotech.
I am into Gilead, Corning and Endocyte right now. Gilead and Corning have great earnings with PE around 12 (about half of the regular stock market). Endocyte is my high risk high reward gamble stock, purchased at $5 and change. They have drugs in cancer trials that will change the world if successful. I am thinking $100 would be a cheap buyout price if they get good results. That would be my first 20 bagger ever.
I bought Seadrill first at $23 (and sold $25 Jan 2016 calls against it for $3) then on the way down at $16.
I recently rebought the 2016 $25 calls for $0.15 and sold all the stock for $12.50 to $13. Whoops, a bit early there.
I made money with the proceeds, so it is all good.
My IRA where I did this trading was $102,000 last year when I first purchased the Seadrill and today is $101,500 so I managed to claw my way back to pre oil crash levels with biotech.
I am into Gilead, Corning and Endocyte right now. Gilead and Corning have great earnings with PE around 12 (about half of the regular stock market). Endocyte is my high risk high reward gamble stock, purchased at $5 and change. They have drugs in cancer trials that will change the world if successful. I am thinking $100 would be a cheap buyout price if they get good results. That would be my first 20 bagger ever.
Oil is coming back. Don't let anyone convince you differently. You know who controls OPEC, they're tried to run shale companies out of business. I live in the Eagle Ford Shale area and starting to see seismic exploration crew in my area. Last time I seen them, about a year later oil companies started drilling. Back then an oil company drilled a test hole 9500' on my neighbor's property. They told me they were looking for oil not gas, with gas you need a pipe line. Oil can be pumped in tanks and hauled out. A year ago I was in Sabine oil pool, they had everything set up ready for a rig. The last minute they canceled because they couldn't get enough investors. Energy stocks is the way to go, long term that is. Texas tea?
HarmonicaBruce
Well-known member
I gotta start drinking some of that tea! You're up 20% today, .09! Nice play!gojo said:
HarmonicaBruce
Well-known member
So you made a quick 30%! Nice! I would have kept just a little of it, in case it goes up a lot.gojo said:
I know it’s an old thread but I’ve been doing stock trading since march this years and even though I have a plan for my entry and exit with a stop lost, I have a harder time to cash out. I do mostly day trading, swing trading and usually never go longer than 2 weeks on a particular trade. I usually set my gain at X in cash and something will track it with a closer stop lost.
What strategy do you guys use to take a gain? Do you know when to cash out before you even go in a trade or mostly go with the direction of the market in general. Do you follow any indicator? Some of you have a lot of experience and this is why I’m asking.
I’m new to this but really like it and I want to do this as my main income in the future. I did set my goal for 1 years to learn and see if this is an option that can be successful.
Thanks
What strategy do you guys use to take a gain? Do you know when to cash out before you even go in a trade or mostly go with the direction of the market in general. Do you follow any indicator? Some of you have a lot of experience and this is why I’m asking.
I’m new to this but really like it and I want to do this as my main income in the future. I did set my goal for 1 years to learn and see if this is an option that can be successful.
Thanks
I mostly trade Weekly Options.
QQQ, played a Strangle.......
Thursday, about 30 minutes before closing, I bought 10, Aug. 5, 116.00 CALLS @ .20
$20X10= $200 + comm. $14 = $214.00
also Thursday, I bought 10 Aug. 5, 115.00 PUTS @ .11
$11X10= $110 + comm. $14 = $124.00
$214 + $124 = $338.00 Total risk or invested.
My PUTS expired worthless...... At 10 AM Central, I sold my Calls for .98....
98X10= $980. - comm. $14 = $966. - my loss on the PUTS $124. = $842.00 My profit of 149%
I bot day before selling, so that wouldn't be considered day trading on income tax.
Hope I got all the figures right.
QQQ, played a Strangle.......
Thursday, about 30 minutes before closing, I bought 10, Aug. 5, 116.00 CALLS @ .20
$20X10= $200 + comm. $14 = $214.00
also Thursday, I bought 10 Aug. 5, 115.00 PUTS @ .11
$11X10= $110 + comm. $14 = $124.00
$214 + $124 = $338.00 Total risk or invested.
My PUTS expired worthless...... At 10 AM Central, I sold my Calls for .98....
98X10= $980. - comm. $14 = $966. - my loss on the PUTS $124. = $842.00 My profit of 149%
I bot day before selling, so that wouldn't be considered day trading on income tax.
Hope I got all the figures right.
