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

Fermion said:
Yes, I nibbled...more like chomped...I bought 2000 shares at $68.90 today
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Yep - 2000 shares is a CHOMP!!

I bought 300 shares around the same price. Grabbed 100 more at $68.81 before market close.
 
Fermion said:
I have enough risk right now with my ITCI covered call play. August 10 is the date for their earnings so we will see if lady or the tiger.
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What's your guess? Market seems to have lost confidence and indicating earnings won't be good.
 
bobandsherry said:
What's your guess? Market seems to have lost confidence and indicating earnings won't be good.
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I don't know...so hard to predict. Look at Sangamo...it went to $9 something a few days ago then at earnings went to $12.50...does the market know anything anymore?
 
Born2Fish said:
Yep - 2000 shares is a CHOMP!!

I bought 300 shares around the same price. Grabbed 100 more at $68.81 before market close.
Click to expand...

I only bought these for a trade, not a long term hold, so may dump soon (even today if the Pfizer deal gives it a bit of a pop).

My goal is to hold zero biotech going into these elections and then see what happens.

There is a pretty strong backlash against any type of profit made off of the virus from biotech, even though it seems to be ok for other companies to make big profits from increased streaming, online sales, etc. It makes it very risky to hold some of these pharma.
 
Fermion said:
I don't know...so hard to predict. Look at Sangamo...it went to $9 something a few days ago then at earnings went to $12.50...does the market know anything anymore?
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That pop yesterday was enough encouragement to unload. Now watch it go to $15 :) I put that money to work in RKT, has paid off so far.
 
Fermion said:
I only bought these for a trade, not a long term hold, so may dump soon (even today if the Pfizer deal gives it a bit of a pop).

My goal is to hold zero biotech going into these elections and then see what happens.

There is a pretty strong backlash against any type of profit made off of the virus from biotech, even though it seems to be ok for other companies to make big profits from increased streaming, online sales, etc. It makes it very risky to hold some of these pharma.
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I'm not looking at a long term hold for GILD, just hoping to benefit from volatility. (I held GILD from 2017-2018 and finally realized the stock was never going to take off. I finally sold off and bought CELG.)

I grabbed a few shares of SGMO at $11.77 earlier. Not a lot just wanted a presence.
 
bobandsherry said:
That pop yesterday was enough encouragement to unload. Now watch it go to $15 :) I put that money to work in RKT, has paid off so far.
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I hope so. I bought awhile back at $9, and have a limit sell order in for $13.50. A quick 50% wouldn't hurt. But I only bought 500 shares, so it's not going to upgrade my retirement either.
 
Looks like a meh report from ITCI and a delay in reporting some trial data, which means all the August calls we wrote are going to totally collapse in value today (good), but the stock isn't going to skyrocket (bad). Overall it looks like the trade is going to stay profitable, with the stock staying in the $19 to $20 range and the calls going to zero. Most seem to have done the buy-write for a ~$18 net debit.

Of course there are still 11 days left.
 
Fermion said:
Ok, I got back into a August ITCI covered call play.

This is more dangerous (exciting?) because it will encompass an earnings, which I think might miss a bit because of COVID.

The call premiums were juicy though, with a $24 August 21 strike selling for $4.4 with the stock at $22.

So a net debit of $17.60 and a potential profit of 36%, or $12,800 with $35,200 at risk.

Who knows, it might go sour this time.
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So far this has been a *ok* play. Not quite as good as last month when I was just barely called away, but it is still a profitable trade right now.

The calls have dropped down to essentially $0 in value and the stock has fallen $3, so there is still a net profit there of $1.4.

The question now is do I take the $2,800 in profit and pack things up before election or do I sell September calls against the stock after the August calls expire worthless?
 
Fermion said:
So far this has been a *ok* play. Not quite as good as last month when I was just barely called away, but it is still a profitable trade right now.



The calls have dropped down to essentially $0 in value and the stock has fallen $3, so there is still a net profit there of $1.4.



The question now is do I take the $2,800 in profit and pack things up before election or do I sell September calls against the stock after the August calls expire worthless?
Click to expand...



I’m 100% going to sell some September calls. Even tried to offload my August ones yesterday for $0.10 so I could go ahead and do it, but had no takers.
 
GILD share price continues its downward spiral.

I sold half my shares at $69.4 for a small profit but given "negative" news reports recently I'm having a hard time buying more at today's bargain level. I don't want to hold pharma shares through the upcoming election.

Do they need a change in management? Thoughts?
 
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Born2Fish said:
GILD share price continues its downward spiral.

I sold half my shares at $69.4 for a small profit but given "negative" news reports recently I'm having a hard time buying more at today's bargain level. I don't want to hold pharma shares through the upcoming election.

Do they need a change in management? Thoughts?
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I don't know if they need a change in management or the world needs a change in the way drugs are valued. It is kind of hard to grasp that a company who is making drugs to treat HIV and COVID is trading at PE10 and a car company is trading at PE1000.
 
Fermion said:
I don't know if they need a change in management or the world needs a change in the way drugs are valued. It is kind of hard to grasp that a company who is making drugs to treat HIV and COVID is trading at PE10 and a car company is trading at PE1000.
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Definitely crazy isn't it? It's all about future earnings, but hell, a long way to grow profits just to justify today's values.
 
Goodyear is down the past couple of days due to some political controversy, might be a good time to swoop in and make a quick 5%
 
Fermion said:
I don't know if they need a change in management or the world needs a change in the way drugs are valued. It is kind of hard to grasp that a company who is making drugs to treat HIV and COVID is trading at PE10 and a car company is trading at PE1000.
Click to expand...

bobandsherry said:
Definitely crazy isn't it? It's all about future earnings, but hell, a long way to grow profits just to justify today's values.
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Agree on the valuation discrepancy. Maddening.
 
Well ITCI didn't pay big, squeaked out a mild gain, but loaded up for another month of fun with Sept call.
 
brokrken said:
Bob, at what strike and premium?
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$19 strike with $3.15 premium (flipped early on the Aug call). Went thin on this just hoping for it to be called :) Will be a good return for a month if it's called and hopefully keeps me in the red should it fail to be called. I see it's down this morning so hopefully not riding a dead horse in this race.
 
I just did the same, but only got $2.25. Cost basis down to $15.55.
 
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