Very nice, and a precscient call on Friday, even if you weren’t able to pick up more puts.
Shame on you!
I hope GE is able to turn things around. Maybe Jack Welch can do more from the grave than he could from retirement.
GE is better off now that Jack is 6 feet under.
I saw results from it. Nothingburger “guidelines”. I think it had been announced that it would be earlier in the day, then just waited for the 3pm task force briefing. Too late for businesses to even pretend to act on the guidelines this business day. The new non- enforced “Guidelines” say stay home if you feel ill at all.
Ours for example is call the company clinic for an assessment, 102F temperature and respiratory infection stated as the benchmark. And tests are expected soon, with the only “additions” to sick leave policy applying with a + test result. Work from home is “encouraged” by the company, discouraged by the directors. Employees can ask to be considered to figure out a WFH situation, only if they’re “concerned” about their own personal health.
Well I was actually trying to get a third sell through at 3:59 today too (you can see those two sales were 3:57 and 3:58). Futures look green. Time to buy more puts tomorrow.
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Sometimes I wish I understood what this all means…
You’re selling sell contracts against shares that you own, so if TSLA drops < $500 by 3/27 you’ll be forced to sell your shares? Who’s buying these contracts and why?
No, I don’t own any TSLA shares. I had bought TSLA puts. These are contracts to be able to optionally sell at that price any time by expiration by exercising the option. Then I sold those puts. I don’t understand the background logistics, but pretty sure market makers both buy and sell the vast majority of them to retail investors. And behind the scenes they may buy and sell securities to cover the risk. Yes, it’s a pretty rigged game. Generally someone making a short bet by purchasing puts does not intend to exercise them, but to sell them for a higher amount before expiration. It’s also possible to exercise them and sell someone else’s shares (if borrowable shares are available), and then turn around and buy the shares afterward.
The 3 AAPL puts I just bought (only a month out, though) are as “protective puts”, because I own more than 300 shares of AAPL. I would not be intending to exercise these puts (Unless the market is on “holiday/closed” over expiration, in which case I think you have the option to exercise them but not to sell them). I’d be intending to sell them.
I have no idea myself what is going to happen with the massive “stimulus” attempts and also the massive shocks that are NOT priced in from this crisis. Way up? (with high inflation?) Continue down? I’m currently very bearish in the short term. I can only guess from looking at charts that 10 days we’ll be over 1k fatalities, 20 days will be 10k. And it will be much less business as usual than it is now.
In other news, I logged into my 403 account for the first time. (I’ve made no changes in it). It’s only down about 25%. I have about 1/2 (up from 1/3) in TIAA “guaranteed” annuities. I would guess those aren’t at risk because they’re “too big to fail” like most other entities.
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Anything worth buying? Prices are heading towards 2008 lows ouch
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Let me polish up my crystal ball…
I favor blue chip or energy ETF right now. With the somewhat safe assumption that we will be out of this, eventually.
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I don’t know why I’ve held onto my last 13k shares of F. 
I take too long to sell anything. Still holding.
My tsla puts (and new apple protective puts – only good a month) have barely exceeded my other losses.
I don’t see a way out of this mess. Probably should have moved 100% short. Sucks watching the world burn. And all by yourself if you’re also out sick currently.
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Grocery stores are empty. With virtually everything being sold as soon as it is delivered. Shouldn’t some companies be looking at near-record earning reports for this quarter/year?
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Walmart is at an all time high, up 13% this month.
I can see supermarkets, particularly the tech oriented ones, making good profits. Just imagine if they decide to charge more (and offer again) home delivery!
On other matters, Fidelity has placed KLAC and AMAT in their hard to borrow list. Not sure why because there are millions of those shares available but… Perhaps Fidelity saw a way to profit too.
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Who’s buying??? Trump going to save us
What airline are we buying…
What energy companies are we buying…
What tech companies are we buying…
I’m thinking this is the kind of environment Buffet does well in but I’m weighing that against his age and the fact that BRK doesn’t pay a dividend.
Sell on the bounce!
Thank me later.
Is anyone even considering IVR. It’s been hammered so hard, and with good reason, but the downside seems minimal.
All the mREITs are at risk right now, where the MBS markets are frozen and their repo lenders have been making margin calls and demanding lots more collateral which the already leveraged mREITs don’t have. MITT, IVR, NYMT, and MFA have blown up and several others sold their non-Agency assets at bad prices to survive. Agency assets are viewed to be safer since the Fed has a buying backstop for those.
Broadly I think the worst may be behind them as some lenders are working with them rather than foreclosing on their loans and the market this morning has many of these way up. NLY and AGNC are some of the bigger safer ones.
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Thanks. I appreciate the info and opinion, before the market opened. I was looking less for safety than the opportunity of at least a dead cat bounce. Sadly, both IVR and MFA gapped open, a bigger gap than I cared for.
Anyone touching Tesla? I’m not.
I am keeping an eye on some of the bluechip and see if the price is right.
Down ~15k on the TSLA puts I am still holding. Offsets that ~$14k I was up on the two I sold.
Sort of working still to inverse my long holdings, but not too well. Options are just so expensive.
Quote was from 12 days ago, we were at 69 the end of 3/15. 1027 on 3/25. So the speculation was accurate to the day…
I don’t like that my prediction was accurate.
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