cwah
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Post by cwah on Jul 6, 2021 19:58:41 GMT
Today's drop made me sweat massively. A 3.5% drop in tesla put my loss directly to $£800! in 1 day.
I decided to sell it and change to a PMCC. - Bought dec17'21 call at 550 - Sold Jul16'21 call
Hopefully it can make £800 every 10 days and recover from the losses I just had!
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Post by Deleted on Jul 6, 2021 21:06:46 GMT
Today's drop made me sweat massively Erm... why? Your original post suggested that you would be happy to purchase Tesla shares at a 30% discount
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cwah
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Post by cwah on Jul 6, 2021 21:46:52 GMT
Yes I do. But after long thinking I thought it could be Tesla in a safer way by receiving £800/week in premium instead of a £14k premium upfront. Also the drop in price is not as steep.
Its still a bullish view on Tesla however it feels safer like this. I may be wrong and may change strategy in few weeks/months time if it doesn t work out
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hazellend
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Post by hazellend on Jul 6, 2021 22:32:33 GMT
Yes I do. But after long thinking I thought it could be Tesla in a safer way by receiving £800/week in premium instead of a £14k premium upfront. Also the drop in price is not as steep. Its still a bullish view on Tesla however it feels safer like this. I may be wrong and may change strategy in few weeks/months time if it doesn t work out You’re all over the place. I strongly believe that people should write down an IPS (investment policy statement) that they can stick to over the long term then stay the course. Your style is very erratic and emotional. More short term speculation/gambling than long term investing. I’m at the other end if the spectrum and just buy a cheap all world etf maintaining an allocation of 90 - 100% equities and the rest in cash. I have a safety net of a reasonably mature DB pension scheme (NHS).
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cwah
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Post by cwah on Jul 6, 2021 23:02:32 GMT
Its eratic but still safer than P2P lending
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alanh
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Post by alanh on Jul 7, 2021 8:15:19 GMT
Don't take this personally cwah but this is the most ill thought out investment "strategy" I've ever seen. Its completely nuts, and it is very clear that you have no idea about valuing or trading options.
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jonno
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nil satis nisi optimum
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Post by jonno on Jul 7, 2021 9:02:15 GMT
Its eratic but still safer than P2P lending cwah; please don't use that as your investment benchmark or you could seriously lose your shirt. I'm getting a little worried about your erratic "stategy". Please don't risk more than you can afford to lose (although if you're already sweating overnight, I fear you may already have)
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registerme
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Post by registerme on Jul 7, 2021 9:05:55 GMT
I think we've tried, multiple times over the years, without much success, to curb cwah's riskier endeavours .
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cwah
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Post by cwah on Jul 7, 2021 9:28:21 GMT
I changed to a PMCC strategy. Max loss £15k and receive weekly $918. What's wrong with that?
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Post by Deleted on Jul 7, 2021 9:38:25 GMT
"I may be wrong and may change strategy in few weeks/months"
it ain't strategy if you change in this time scale, it is tactics ;-)
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registerme
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Post by registerme on Jul 7, 2021 10:01:54 GMT
I changed to a PMCC strategy. Max loss £15k and receive weekly $918. What's wrong with that? I've no idea what a "PMCC strategy" is. Please would you explain it?
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jonno
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nil satis nisi optimum
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Post by jonno on Jul 7, 2021 10:20:57 GMT
I changed to a PMCC strategy. Max loss £15k and receive weekly $918. What's wrong with that? I've no idea what a "PMCC strategy" is. Please would you explain it? I think it's "Pay More for Cr*p Commodities" Seriously, it means "Poor Man's Covered Call" It's about selling covered calls at a fraction of the capital required than if you were to actually own the underlying asset.
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registerme
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Post by registerme on Jul 7, 2021 10:58:12 GMT
Thanks jonno. Covered calls I've come across (my dad used to trade them years ago), but that's the first time I've heard of a "poor man's covered call".
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jonno
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nil satis nisi optimum
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Post by jonno on Jul 7, 2021 11:00:37 GMT
Thanks jonno . Covered calls I've come across (my dad used to trade them years ago), but that's the first time I've heard of a "poor man's covered call". Well clearly you wouldn't, being such a man of "means"!
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registerme
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Post by registerme on Jul 7, 2021 11:04:51 GMT
I wish.
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