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I was today old when I learned...

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markbeiser
Established Contributor

Re: I was today old when I learned...


@FicoMike0 wrote:

I've been doing soud as well! I think I got $1 a share with a $14 strike, wasn't assigned. I'm wondering if it's reaching a peak? Showing $1.60 for $17 strike, over 9%. Would be high risk of assigment, but the call market looks strong as well.


Well it is cheap, and the premiums are high enough that if the IV stays up, and it doesn't crash too soon, in a couple of months the stock will be effectively free, so I'll keep playing at a very small scale.

Soundhound has a great product, but they are not a big enough company to implament their product on a large scale yet, and rapidly scaling up to do so isn't easy.
If one of the big players took interest, they could easily buy them. Or one of the big fast food franchises could buy them and make it propriatory. Neither of which would be a bad thing for peopole holding shares at the time.
Alternatively, they could just fall flat on their face trying to scale, or a big player that can implament large scale much faster could leapfrog them.

Back to gardening until Late February 2025.
Current FICO8:
Message 41 of 47
Im-back
Regular Contributor

Re: I was today old when I learned...


@markbeiser wrote:

@Blender  @Im-back 

Something happened this week that I'm equal parts confused and excited about.
I sold 6 puts on PLTR at the $78 strike for $2.23/share on Monday, and despite the closing price ending up being $76.06 I got assigned on all 6.
Somebody lost $0.30/share on the trade, which is the part that confuses me.🤔
I also got assigned 200 shares of HOOD at a similar net profit on the trade.

The part that excites me is that PLTR got added to the NASDAQ 100 Friday night!😀


If you really feel sporty about PLTR:

 

https://www.direxion.com/uploads/PLTU-PLTD-Fact-Sheet.pdf

 

yikes!

Message 42 of 47
markbeiser
Established Contributor

Re: I was today old when I learned...

@FicoMike0 
I may buy 4 or 5 shares of PLTU for the entertainment value.🤣
It just started last week, and if PLTR doesn't go up on Monday PLTU may worthless by Tuesday, but if PLTR does move up significantly...

Back to gardening until Late February 2025.
Current FICO8:
Message 43 of 47
FicoMike0
Valued Contributor

Re: I was today old when I learned...

I missed soud today, I bid too high. I sold some rcat 8 put for 0.50.

Message 44 of 47
markbeiser
Established Contributor

Re: I was today old when I learned...


@FicoMike0 wrote:

I missed soud today, I bid too high. I sold some rcat 8 put for 0.50.


Looking at the call premiums on RCAT, it may be a better play just to buy 100 shares and sell a call at the next strike above what you paid.
I'll have to look at it in the morning and see where it is at, looks like it had a big drop after hours on a bad earnings report, but the Palantir partnership may save it a bit.

I did 3 puts at $17 on SOUN this morning, then it shot up.
I'm thinking of opening and funding a Moomoo account with $2500 in January, just to play with SOUN for a year in its own account to see how far I can get with it without adding more cash.
Could even get lucky on the draw for the 15 free stocks too.

Sitting on the PLTR for now since it pulled back a little, should have a lot of volume next week though, so hope to make a tidy proffit.
Did 1 put at $103 on MU for the tasty premium.

I'll play with puts at high deltas for a couple more weeks, but in January I plan to put a lot more capital into it, so will be easing back to lower deltas in keeping with what is proven to have high success with the wheel strategy.

Back to gardening until Late February 2025.
Current FICO8:
Message 45 of 47
markbeiser
Established Contributor

Re: I was today old when I learned...

@FicoMike0 
Today was...."fun"...😬
Between the crazy reaction to the Fed announcment, and the MU earnings call, I'm pretty sure I'll be asigned 100 shares at the $100 strike I sold a put for, unless there is a big bounce back.
The earnings call wasn't even that bad, record revenue quarter, just weak guidance for next quarter, but compounded bad with the Fed.
On the bright side, all of the covered calls I sold on monday are >90% in the green, and SOUN and IONQ seem to be weathering the storm so far, so my puts may be ok there.

Back to gardening until Late February 2025.
Current FICO8:
Message 46 of 47
markbeiser
Established Contributor

Re: I was today old when I learned...


@FicoMike0 wrote:

Good insight, pltr should rise. Maybe double down on pltr put?

 


Well, turns out getting "stuck" holding the bag on 600 shares of PLTR for a month and a half was a very good thing!😲

Back to gardening until Late February 2025.
Current FICO8:
Message 47 of 47
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