Stock Trading -or- ReconSWS's Bane

[gabe]

I like to have both but I only run covered calls on non-dividend paying companies. Your dividends should add up as you grow your account. I've pushed for yield with some energy and telecom holdings and get about 4% yearly which amounts to about $100 a month in dividends. In addition to dividends, I add at least $100 per week to my account on a scheduled deposit it adds up to a nice account growth. I'm going to start looking at adding to the JP Morgan covered call fund JEPI to boost dividend yield to get to $200 per month by the end of the year.

In my little $2500 "day trading" or play money account though...I'm ruthless about yield. I'm writing covered calls and cash secured puts like crazy on some pretty awful little dollar stocks with super high IV. So far it's worked out just writing puts, getting assigned, writing a call all at the same strike and collecting premium only at a 10-15% yield per month on each contract. I'll probably get bit if one of these companies tanks but I guess that's how you learn. My favorite right now is MMAT with a nice big $60 premium on a monthly put contract that costs $400 to secure.

[Euphie]

I just checked the rest of my posted dividends for the month and they come to... $10.99... lol

I have both a covered call strategy and a dividend one and, I swear I am always tempted to cut the dividends each time I look at that statement and just go 100% covered calls, but I am too chicken to do it.

[bellicose]

Dutch bros IPO drops this week. Oregon largest IPO in a long, long time. I'm jumping in on that. Way back when they had private ownership of individual retail locations, I wanted to invest in one if someone I knew was going to start a new location. Next best thing, I guess.

[Axel]

I just checked the rest of my posted dividends for the month and they come to... $10.99... lol

[Axel]

Yeah, it's been a good couple weeks. I sold some shares to cover a few expenses, but the account balance is roughly back to what it was before the withdrawals.

And second on Ethereum. I have currently doubled my investment, which was free gubmint stimulus money in the first place 🤘

[gabe]

Hows the gang? Recon you still with us?

Been running covered calls and cash secured puts on MMAT, EMAN, and SNDL. Basically all trash companies with negative earnings but massive implied volatility so the option premiums are huge. Reasoning is that even if they drop below my strike I'm still at a very low cost basis and can turn around and sell options to get rid of the shares at the cost basis and collect premium again. God I love options.

*edit* oh and I love crypto. Etherium has really brought my account back to life.

[gabe]

Good play. Seems the WSB crowd is really down on it but tbh it is one of the best trading platforms.

I switched my smaller trading portfolio back into cash secured puts and covered calls. Trying to stay cash rich and keep the income coming in. I don't forsee this market holding out much longer. Not normally bearish but I'm hoping for a flatter year or two in the market to even out this explosive growth caused by Jpow and his money printers.

[Axel]

I had my doubts, but this week it looks like buying into Robinhood's IPO was a good move. Suck it, Reddit 😆

[ReconSWS]

---

I actually managed to do it... I managed to psyche myself out and actually TRUELY execute an 'inverse yourself' strategy. I actually felt the play this morning, I felt it through my bones, and woulda made it if I could have but was distracted. Did the complete inverse at the perfect bottom.

Unfortunately, we still playing with trash out-of-the money 3 day expiry trash, but literally just need 2% up to make like 1000%.

SPY 445c x100 7/26

[ReconSWS]

Lol .

[gabe]

A stock market bear is always right twice a year

[ReconSWS]

BIDEN ECONOMY REMARKS 20 MINUTES, GET YOUR SPXL CALLS and VIX PUTS IN (please do not buy weeklies or dailies LOL).

#not investing advice, totally gambling, 99% chance of loss.

[ReconSWS]

Okay my play this week is :

SPXL 125.00c x15 (FOR AUGUST)
VIX 18.00p x 9 (for wednsesday)

So these are all bullish as you can get with options (as the opposite of my bearish crap), 3x and VIX, when this shit moves, it moves. But, I think this move, has moved, and there is no more moving left to be had to the down-side for now.

(MIND YOU, I SAID SEVERAL TIMES, THE MOMENT I GO FULL BULL IS THE MOMENT IT ALL COMES DOWN). But then gain, this is small change, I need a big win, then to go full bull all-in, then it crashes on me is usually the way to plays out.

[ReconSWS]

Holy FUCK dude I am so fucking pissed of. I missed by a WEEK. ONE FUCKING WEEK.

All my SPXS shit missed last week, coulda been yuuuuuge.

Thankfully, I had my VIX calls set out anouther 7-days, so those got a nice 3x pop and saved me 50% of my funds.

So now I've got 450CAD to blow on something.

I'm thinking, THIS AIN'T NO CRASH, I'm buying this dip.

[ReconSWS]

Casinos in my area opening up next week, looks like I'm done with the options gambling, gonna hope my experiences in the market will translate into table games. Gonna just whip my entire stim into a single hand of black-jack, ez double, then not do it again and leave the table and hit up some steak and lobster.