RobinHood race from $2,500 to $250,000

[Mactheriverrat]

Sorry about that but some of these are low float low volume micro caps and things like RSI really don't apply IMO.

Insider purchases or sells, CEO's leaving, cash burn and dilution risk, things like that are what I look for.

All is forgiven!

 

[Born2Fish]

Oops, something going on, ETTX did a trade for $1.7 pre market, down 40%. Well that buy went south in a hurry!

edit: Or a ticker misprint? no news. LOL I love biotech investing.

edit2: It looks like someone fat fingered a pre-market sell of 500 shares at $1.71 instead of $2.71.

LMAO if true.

I saw that...I had a Buy Limit in place beforehand but forgot to select "Pre-Market AND Day"...dang-it!!

 

[finnski1]

My July 17 ITCI covered call is getting near completion and will be a nice $8000+ profit but dang if the August calls on ITCI are juicy!

You can sell a August $25 call on ITCI for $7!

So tempted...

Someone bought 2000 of the Aug $15 puts today?
That's a big bet on a huge drop (Of curse someone also sold 2000)

 

[bobandsherry]

My July 17 ITCI covered call is getting near completion and will be a nice $8000+ profit but dang if the August calls on ITCI are juicy!

You can sell a August $25 call on ITCI for $7!

So tempted...

Guess you don't mind seeing your shares called when you put $8K into your pocket. Rinse and repeat... I missed out on seeing $7, by time I took a look stock price down and option was just above $6. Still good return for 45 days if it's called, or got a cheap price on the stock if it doesn't, should put you about same net as last time, maybe a bit better if I recall.

 

[Fermion]

Guess you don't mind seeing your shares called when you put $8K into your pocket. Rinse and repeat... I missed out on seeing $7, by time I took a look stock price down and option was just above $6. Still good return for 45 days if it's called, or got a cheap price on the stock if it doesn't, should put you about same net as last time, maybe a bit better if I recall.

I tried to close it out yesterday for $22.50 (I bought the covered call for slightly less than $19 and it reaches full value on July 17 if ITCI is above $23). No luck, the bid ask on the $23 calls had something like a $2 spread.

I probably could close it at $22 but that would be leaving $2,000 on the table, so I will wait until next Friday. Shouldn't be any horrible news before then that would tank it but you never know. August for ITCI might be more iffy. There are earnings and possible trial updates, putting the range on share price of $15 to $40. Kind of a scary time to do another covered call, but dang, it does feel like easy money.

 

[EA-Sports]

Time to sell SGMO at close to $11?

 

[Fermion]

Time to sell SGMO at close to $11?

If you still have it. I already had sold it sadly and missed out on the morning pop to $11.

That was a really good swing from $9 to $11.

 

[brokrken]

I'm going to hold. I wanted in around $9. It got away from me and then came back and I averaged myself in in the high $9's. Got a little bigger position than I originally wanted since I had to average down, so there is a possibility I take some profits on part of it. But, I think I'll hold it until a transaction happens or some other big news.

 

[Fermion]

Anyone know how/if you can do a covered call in Robinhood as one transaction? I have been climbing the walls trying to figure it out but I can't seem to find any way to buy XX shares of a stock and go short a call option on that stock as one net debit transaction. You can buy and sell calls to create credit or debit spreads as one transaction but I can't find any way in the interface to do a one transaction covered call.

A real head scratcher, as this is standard practice at E-Trade and boggles my mind that you could not do it in Robinhood.

 

[bobandsherry]

Anyone know how/if you can do a covered call in Robinhood as one transaction? I have been climbing the walls trying to figure it out but I can't seem to find any way to buy XX shares of a stock and go short a call option on that stock as one net debit transaction. You can buy and sell calls to create credit or debit spreads as one transaction but I can't find any way in the interface to do a one transaction covered call.



A real head scratcher, as this is standard practice at E-Trade and boggles my mind that you could not do it in Robinhood.

Per this, you need to have Level 2 designation on your account.

https://robinhood.com/us/en/support/articles/placing-an-options-trade/

 

[Fermion]

Per this, you need to have Level 2 designation on your account.

https://robinhood.com/us/en/support/articles/placing-an-options-trade/

I have level 3

 

[bobandsherry]

Any news on ITCI? Big move downward today, down over 8%. Had after hours bounce that recouped about half the drop.

 

[Fermion]

Any news on ITCI? Big move downward today, down over 8%. Had after hours bounce that recouped about half the drop.

No idea. SGMO dropped as well. Maybe partly due to the big market drop at end of day somehow?

I did buy 1000 shares in Robinhood of ITCI at end of day for $22.90, intending to sell August calls against them at $24 strike but I did not get the call filled. Hope that doesn't bite me in the butt tomorrow.

I still have the July 17 $23 covered call play, but the $23 calls are still going for $2 with only 4 trading days left....crazy! Maybe I should sell the $23's in Robinhood tmrw and make $2,000 in 4 days.

 

[Born2Fish]

Any news on ITCI? Big move downward today, down over 8%. Had after hours bounce that recouped about half the drop.

I haven't found anything to justify the ITCI drop. Still holding 100 shares.

Sold ETTX today at $3.20/share for quick $1k profit.

 

[bobandsherry]

No idea. SGMO dropped as well. Maybe partly due to the big market drop at end of day somehow?

I did buy 1000 shares in Robinhood of ITCI at end of day for $22.90, intending to sell August calls against them at $24 strike but I did not get the call filled. Hope that doesn't bite me in the butt tomorrow.

Heh - I did covered calls for $24 August today too, got in a buck more than you though, then saw the roll-off. Still, about $6 premium gives me some decent down side protection - so was curious if there was news I didn't see on ITCI.

The prices for $24 were a bit weird when compared to the $23 and $25, just slightly better overall premium. However, it definitely took longer than usual for the order to be filled.

 

[bobandsherry]

I haven't found anything to justify the ITCI drop. Still holding 100 shares.

Sold ETTX today at $3.20/share for quick $1k profit.

After looking at the financials, I got in late to the party, but purchased as an alternatives to scratch offs Seeing it hit nearly 20% return caused me to hit the sell button at $3.18 for the win. May end up kicking myself, will watch to see future movement.

 

[Born2Fish]

After looking at the financials, I got in late to the party, but purchased as an alternatives to scratch offs Seeing it hit nearly 20% return caused me to hit the sell button at $3.18 for the win. May end up kicking myself, will watch to see future movement.

Yep, I did the same thing!!

 

[tulak]

ETTX up 30%. I should probably sell.

 

[ckelly78z]

This stock just joined the "Russell 3000" on Friday which sent the stock soaring, and hopefully more PRs on Monday for a big green week.

Currently closed at $2.15, but up .21 in after hours trading to $2.36. It hit $2.69 earlier in the day. Monday should be epic !

This is sitting at $3.26, (up 34% this week), and ready to explode for double digits soon when company starts dropping PRs.

 

[Fermion]

This is sitting at $3.26, (up 34% this week), and ready to explode for double digits soon when company starts dropping PRs.

There are a lot of little biotechs popping all over. ETTX is up something like 40% this week also.

 

[ckelly78z]

IBIO Up another 20% today....at $3.90.

 

[sirsavesalot]

I had an order ready to submit at open this morning for 5000 share of IBIO. My manager gave me a call, and I had to run to a site as an emergency. I just got back home to my laptop, and see it's now up over 25%. Lovely.

 

[harley]

I'm still sitting on my SGMO that I got at $8.92. Wish I had bought thousands of shares instead of hundreds. I think I'm going to hold for the eventual buyout. If it doesn't happen, watching it go up then down will be a(nother) good learning experience.

 

[Fermion]

The ITCI July 17 $23 covered call play I did closed out fully in the money last night (barely over $23...almost perfection).

That was some easy money. Damn I wish I had done that one in Robinhood...although I have only $32,500 now in there and the play cost me $38,000.

Sorry for the person who bought the calls I sold, but hey, you can't win them all!

 

[brokrken]

The ITCI July 17 $23 covered call play I did closed out fully in the money last night (barely over $23...almost perfection).



That was some easy money. Damn I wish I had done that one in Robinhood...although I have only $32,500 now in there and the play cost me $38,000.



Sorry for the person who bought the calls I sold, but hey, you can't win them all!

Well played. I picked up about enough for a steak dinner when the SGMO $12 calls I had covering my position expired on Friday.