The Speculative Stocks....

[Otter]

(04-20-2020, 11:35 AM)fenders53 Wrote:

(04-20-2020, 11:04 AM)Otter Wrote:

(04-20-2020, 10:16 AM)fenders53 Wrote:

(04-20-2020, 10:08 AM)Otter Wrote:

(04-20-2020, 09:57 AM)NilesMike Wrote: .88 Now

Unbelievable

Showing $1.26 now for the 1/21/22 $4 calls. Not sure where you are getting $0.88

He may have looked at JAN2021. It was in the low .90s a few minutes ago.  He scared you didn't he?  

LOL, a bit.

Closed out all of my SPY Puts for a 300+% gain. Tax liability to a high yield savings account, similar sized bet to original SPY bet on USO LEAPs, and rest to cash to eventually fund more DGI equity purchases (am in no rush on that one).

I'm going to keep my SPY puts for awhile. They are down but I bought them for a small hedge and they still serve that purpose.  If the market doesn't pull back I'll sell them in a few months before decay gets them too bad.  I intend to go long oil again but the method hasn't been decided.  Oil is so low that we are about to the point where you can't screw it up as long as you give yourself plenty of time.  I am still wary of the majors because they are going to have to do crazy things to pay Divs if oil doesn't triple soon.  I'd buy a major that cut the Div, but I need a discount from current SPs.

I considered going long crude directly through futures, but didn't like the prospect of nearly unlimited downside liability with futures contracts. Also looked at options on crude futures, but those only run (currently) through the November, 2020 contracts, so USO LEAPs it was, contango and all. At least the risk is limited to what I paid for the options contracts.

I think my next side bet that doesn't involve just purchasing equities is to go long Yen by selling USD/JPY. Cash-secured mini-lots only. I refuse to do margin.