What did you trade today and why?

[Montecfo]

Made 4% overnight selling NVDA pre-earnings and buying back this AM.

 

[dickoncapecod]

I looked at NAV trends on cefconnect and became less enthusiastic. Sold some low price buys and returned to "show me" mode. I'll join a party in progress or sit on my hands......stopping bottom fishing.
Regards, Dick

 

[COcheesehead]

I looked at NAV trends on cefconnect and became less enthusiastic. Sold some low price buys and returned to "show me" mode. I'll join a party in progress or sit on my hands......stopping bottom fishing.
Regards, Dick

I sold off some PDI on the bounce, the rest of my PHK and some PTY.

 

[Handymike]

added 500 $OXSQ to existing position Dividend ROTH

 

[NW-Bound]

An alternative if you have entered the head-scratching phase on how high this stuff can go AND it's in a tax deferred account: you MIGHT sell the stock and if (after that) you still really truly believe it will keep going up, you can buy LEAPS calls to replicate the price action and still sell calls against those.
FWIW, Dick

I know about this "poor man's covered call strategy" but never use it. I also did not know it is allowed in an IRA. If the LEAP is deep ITM, the exposure to stock price going down is just the same as holding the shares. I am already sitting on tons of cash, so do not need any leverage.

I have bought LEAPs only a couple of times in my life, and they never worked out. Granted, they were OTM but the LEAPs were more than 1 year away. Still, it didn't work out for me, plus the premium was high.

I think I either sell the shares outright, or sell covered calls at the money, or sell the shares and then sell OTM puts. In any case, Caterpillar is down -3% today as I write this, while Nvidia is down -4.6%.

 

[surprising]

Made 4% overnight selling NVDA pre-earnings and buying back this AM.

Bought protection puts before earnings so my loss is capped. But sheesh, they absolutely killed estimates. Not sure what the market wants.

 

[dobig]

Bought protection puts before earnings so my loss is capped. But sheesh, they absolutely killed estimates. Not sure what the market wants.

lol

I hear you. Sold right after earnings yesterday and rebought this morning at $192. Was sure it was just profit taking. Nope.

 

[Bill E]

I looked at NAV trends on cefconnect and became less enthusiastic. Sold some low price buys and returned to "show me" mode. I'll join a party in progress or sit on my hands......stopping bottom fishing.
Regards, Dick

Hi Dick,

I think you are right. Looks like a possible shift from increasing NAVs to flat or declining which will likely be reflected in price accentuated by decreasing premiums. I'm currently 30% cash.

Bill

 

[COcheesehead]

Hi Dick,

I think you are right. Looks like a possible shift from increasing NAVs to flat or declining which will likely be reflected in price accentuated by decreasing premiums. I'm currently 30% cash.

Bill

All the ones I hold are starting to show NAVs rounding off to the downside. I am a seller on opportunity vs a buyer on these.

 

[dickoncapecod]

I know about this "poor man's covered call strategy" but never use it. I also did not know it is allowed in an IRA. If the LEAP is deep ITM, the exposure to stock price going down is just the same as holding the shares. I am already sitting on tons of cash, so do not need any leverage.

I have bought LEAPs only a couple of times in my life, and they never worked out. Granted, they were OTM but the LEAPs were more than 1 year away. Still, it didn't work out for me, plus the premium was high.

I think I either sell the shares outright, or sell covered calls at the money, or sell the shares and then sell OTM puts. In any case, Caterpillar is down -3% today as I write this, while Nvidia is down -4.6%.

Yep. There are lots of ways to skin the cat. I just suggested one if you were BOTH feeling the stock was toppy AND not wanting to give up the exposure. It's benefit: you grab an unrealized gain that can't be lost any longer. But you appear willing to exercise my preferred action when stuff looks toppy ---' just sell it!
Regards, Dick

 

[dickoncapecod]

All the ones I hold are starting to show NAVs rounding off to the downside. I am a seller on opportunity vs a buyer on these.

I just kept going --- until I'd realized all profits and took a few small losses. When I tallied up, I'm now 66% cash. These YIELDS can't run away from me before I can buy it all back....and I can't imagine any near term trigger for a big rally. So I'll keep trading away dreams in return for capital preservation for a while.
Regards, Dick
PS. Reasonable question for self: so....why are you still long 33% if you don't like it?

 

[COcheesehead]

These are easier to buy than to sell. I have the same struggle.

 

[dickoncapecod]

NFLX still going up, so maybe I lost my "big" stock-trading chance, but it worries me that the CEO is visiting the White House (no doubt bearing gifts an emoluments) and they MIGHT "win" WBD.
Regards, Dick

 

[Surfcheck101]

Sold DX, booked the monthly dividend, made a few dollars on the trade.
Sold FSCO, made a small profit, didn't get the rebound I expected.
Sold PROF, been a fun stock to trade in small increments.
Sold a small allotment of LULU into strength.
Added NVDA (long term) & NVDX (short term) thru early morning. Will see how the trade goes over the afternoon and coming days.

NLFX up over 10% in the portfolio, having a hard time parting ways with it.
On the opposite end, still carrying OXLC in the portfolio, weighing heavily on the downside.

 

[AudiDudi]

NFLX still going up, so maybe I lost my "big" stock-trading chance, but it worries me that the CEO is visiting the White House (no doubt bearing gifts an emoluments) and they MIGHT "win" WBD.
Regards, Dick

Yep - I sold a bit early. But I'm OK with it.

 

[Qs Laptop]

Hey, question for NFLX watchers. Is it too late to buy? I'd buy it in a tax deferred account and hold until I made 20% to 25%.

Where do you see NFLX stock in 3 months?

 

[surprising]

Hey, question for NFLX watchers. Is it too late to buy? I'd buy it in a tax deferred account and hold until I made 20% to 25%.

Where do you see NFLX stock in 3 months?

I sold my NFLX a few day ago for a loss amid this ongoing WB uncertainty, with the plan to repurchase once there is clarity (and after wash rule no longer applies). Of course it started to rally pretty much right after I sold. I think it still flounders here until there's a definitive result though. If it hasn't rallied to 100 by the time there is a decision, I will buy back, otherwise I'll hold off or search elsewhere.

 

[Surewhitey]

Third time trading NVO... 1k @ $37.40

Past 2 have been gains of 5&10%...

Down 42% in a month seems overdone.

 

[Fishmasterdan]

Added to EWY on a todays pull back at 149. Buy to close yesterday TQQQ Put for 90% on the premium. And sold a CSP 47 strike 15dte on TQQ on the mid day dip.

Any the bot performance this week. Up 2600 roughly. Still some open postions.

 

[NW-Bound]

I bought to close out 38 covered call options and 10 put options. They are down to the pennies. Expiry is tomorrow, but I want to clear the slate so that if the market rebounds tomorrow I will be ready to write new covered calls for next Friday. Net gain from these options: $13,319. The gain on the calls helps reduce the drop today of the covered positions. The gain on the puts adds a lot more to the interest on the cash to secure the options.

I initiated 9 OTM put options, and 3 OTM call options. If the market rebounds tomorrow, I will be selling a lot more OTM covered calls.

 

[marget]

I just kept going --- until I'd realized all profits and took a few small losses. When I tallied up, I'm now 66% cash. These YIELDS can't run away from me before I can buy it all back....and I can't imagine any near term trigger for a big rally. So I'll keep trading away dreams in return for capital preservation for a while.
Regards, Dick
PS. Reasonable question for self: so....why are you still long 33% if you don't like it?

I asked myself this pertinent question just now.
Answer: I think the Pimco CEFs I own are solidly run.
I need the income.
My cost basis is low enuff that I don't need to sell to preserve the principle.
I am in these CEFs for income and not cgs.
I have some cash that I can use if they go much lower.

ALSO: I wonder about that large selling binge? Is there some manager out there who is trading a couple Pimco CEFs for capital gains and ex-date stuff. Did some manager read about Dick's trading around ex-date stuff and decide to give it a try? I just sorta wonder...

 

[Tuirc]

Sold VFIAX to create a cash position covering 2 years of expenses. Retiring in 49 days.

 

[Fishmasterdan]

Sold VFIAX to create a cash position covering 2 years of expenses. Retiring in 49 days.

Congrats !!!

 

[WhenIsItTime]

EOSE. I like it <$12. Good volatility for trading and upside for investing.

This post didn't age well.

 

[Rhythm Method]

I asked myself this pertinent question just now.
Answer: I think the Pimco CEFs I own are solidly run.
I need the income.
My cost basis is low enuff that I don't need to sell to preserve the principle.
I am in these CEFs for income and not cgs.
I have some cash that I can use if they go much lower.

ALSO: I wonder about that large selling binge? Is there some manager out there who is trading a couple Pimco CEFs for capital gains and ex-date stuff. Did some manager read about Dick's trading around ex-date stuff and decide to give it a try? I just sorta wonder...

Margaret, I could not agree more. Yesterday, I was a buyer.

As someone who prefers driving 55 in the right lane, I’m holding about 20% in CEFs — most of them the usual PIMCO suspects — along with a sizable position in FBND and PYLD, a bit of alternatives, various equities, and roughly 15% cash.

I look with real admiration at those trading CEFs, ALTs, and other exotics for capital gains. I’ve ridden this bus before. If they go on sale, I’ll buy more. If they get top-heavy, I’ll reallocate. And for now, I plan to keep no less than 10% cash. I think we’re living in a dangerous world.

If the worst happens, my allocation probably won’t matter much anyway. Until then, I’ll watch the speedsters passing me in the left lane while I toddle along at 55 mph.

Good luck,
RM