Stock Analysis and Trades Thread

[RH | 4,903]

38 minutes ago, Kguillemette said:

Kind of. Their gimmick is mostly a logistics company for discount Chinese crap sellers, trying to be a global Dollar Tree rather than a true marketplace like the aformentioned. They have a very big footprint in Europe from what I understand, just haven't figured out how to really catch on in America yet. Their customer service is very lacking. Their App is very fun to use, though. I know my wife buys crap from them every day! Earrings, slippers, clothes hangers, that kind of thing. The app acts like there's a celebration whenever you buy something like you beat a level in candy crush. Given enough time to work the kinks out, I think they will be a player.

This sounds like the absolute nightmare, worst company in the world I could think up.  That sounds terrible.  I hate cheap-China-junk and there's plenty of it.  Now they are making an app for it, and gamifying buying that junk?  That's feeding the beast that's trying to eat you in the process!

[Kguillemette | 1,544]

9 minutes ago, RH said:

This sounds like the absolute nightmare, worst company in the world I could think up.  That sounds terrible.  I hate cheap-China-junk and there's plenty of it.  Now they are making an app for it, and gamifying buying that junk?  That's feeding the beast that's trying to eat you in the process!

Well, when you put it like that...

I'm not going to argue with you, and I'm definitely not going to pretend they are something they are not. To each his own, I suppose. 

[DoctorEncore | 3,691]

 

8 hours ago, arch_8ngel said:

Any of you guys hang in there on CLOV?

 

2 hours ago, jonebone said:

Where was the buy indicator / news on CLOV yesterday?  Didn't see it mentioned and now it's everywhere of course.

As I mentioned earlier, I rode some options to big profits on CLOV last week and got out when it started dropping fast (see my post from 6/2). Then I saw it picking up speed on WSB yesterday and, since I already knew a lot about the company and its value proposition, I bought a whole bunch of options at $14 and $16. Needless to say, I made a ridiculous amount of money today and am still holding a shit ton of $20 calls.

This is so stupid and so great.

Edited June 8, 2021 by DoctorEncore

[DoctorEncore | 3,691]

On 6/2/2021 at 9:25 PM, DoctorEncore said:

I'm watching CLOV as a possible Reddit target. It's a company with improving financials and a solid plan for the future (especially if we see Medicare expansion). Short interest is ridiculously high at 36%. The stock was trading for as low as $7 just a few weeks ago, but moved all the way up to $9.82 in after hours today. I bought some cheap calls at $13, $14, and $16 for the next three months and am already up about 20%. A "safer" and more reasonable alternative would be to just buy the stock (or sell puts) and then sell covered calls as it moves up, but I'm living on the edge with this one.

Quoting for reference to the above post. I also owned CLOV earlier this year when it was around $14 and made a small profit at that time. I think I mention it in this thread somewhere way back, but I'm too lazy to look it up.

Edited June 8, 2021 by DoctorEncore

[arch_8ngel | 1,597]

13 minutes ago, DoctorEncore said:

 

 

As I mentioned earlier, I rode some options to big profits on CLOV last week and got out when it started dropping fast (see my post from 6/2). Then I saw it picking up speed on WSB yesterday and, since I already knew a lot about the company and its value proposition, I bought a whole bunch of options at $14 and $16. Needless to say, I made a ridiculous amount of money today and am still holding a shit ton of $20 calls.

This is so stupid and so great.

Nice.

I have yet to get around to turning on options trading with Schwab, but it has been tempting.

[DoctorEncore | 3,691]

44 minutes ago, arch_8ngel said:

Nice.

I have yet to get around to turning on options trading with Schwab, but it has been tempting.

I'm mostly using it for gambling meme stocks right now, but there are some legit money making strategies. If you have a big bank, you can easily make $100 a week selling covered calls or puts with very little risk. It's fun and effective.

[arch_8ngel | 1,597]

12 minutes ago, DoctorEncore said:

I'm mostly using it for gambling meme stocks right now, but there are some legit money making strategies. If you have a big bank, you can easily make $100 a week selling covered calls or puts with very little risk. It's fun and effective.

Yeah, there are plenty of situations where I would be willing to sell puts and just collect the premium rather than use the cash to buy the stock outright at the time.

 

[doner24 | 1,195]

Mostly tough day for the MEME stocks. I cashed in 300/400 of my shares of CLOV at $22.94, gonna keep the last 100 shares in for fun to see if there is another big push in the coming weeks. 

[jonebone | 1,307]

13 minutes ago, doner24 said:

Mostly tough day for the MEME stocks. I cashed in 300/400 of my shares of CLOV at $22.94, gonna keep the last 100 shares in for fun to see if there is another big push in the coming weeks. 

The CLNE calls I bought yesterday are up pretty nice.  I did buy into some actual shares of WISH today around $12 as I like playing the ones where I like the underlying story.  Also would expect the $11.50 level to hold pretty well from pre-gap down in May.  See it as low downside risk there.

Also reminds me of when ETSY opened years ago around $30 and went through the lows of $10. Think I held some $10 shares for a year or two and got out in the $20s.... of course stock was $200 a couple years later.

Point being, I don't mind getting shaken out of the up and down dips in WISH and feel okay going long there at $12 regardless.

Edited June 9, 2021 by jonebone

[Kguillemette | 1,544]

1 hour ago, jonebone said:

The CLNE calls I bought yesterday are up pretty nice.  I did buy into some actual shares of WISH today around $12 as I like playing the ones where I like the underlying story.  Also would expect the $11.50 level to hold pretty well from pre-gap down in May.  See it as low downside risk there.

Also reminds me of when ETSY opened years ago around $30 and went through the lows of $10. Think I held some $10 shares for a year or two and got out in the $20s.... of course stock was $200 a couple years later.

Point being, I don't mind getting shaken out of the up and down dips in WISH and feel okay going long there at $12 regardless.

I agree on WISH. I'm just holding pat on it for now. If it runs like crazy to 150 or something like that, I'd be silly not to take the money and run. If for some reason it gets beaten down back under 10, I'll probably buy some more, but I got in it as a long term play, not just a meme pump and dump gamble. I just have to remind myself of that.

[Californication | 1,477]

Someone said GME announced the float was over 100% still.

[Kguillemette | 1,544]

I increased my position on WISH today. The risk is pretty low for what I originally planned on a 3-4 year hold. Ill keep nibbling if it stays under 10 next week, but anything can happen with the reddit crowd.

[DoctorEncore | 3,691]

On 6/9/2021 at 1:05 PM, doner24 said:

Mostly tough day for the MEME stocks. I cashed in 300/400 of my shares of CLOV at $22.94, gonna keep the last 100 shares in for fun to see if there is another big push in the coming weeks. 

Looks like the WSBers ran out of money. I took some nice CLOV options profits and got out.

I'm actually very interested in NIO long term and sold some $40 puts last week for a couple hundred bucks. Turns out I would have been better off just buying the stock as it's seen some nice upward mobility this week. I tried to play $45 calls at .18 this morning, but set a trailing stop that was too tight and sold for a loss. Of course the price shot straight up and now they're worth more than $1. 

Needless to say I've got some more work to do on my options game. Should've paired it with a put to balance the risk.

I also bought a ton of Coupang at $38 to get my cost basis under $40 and set myself up for more covered calls. So far, so good.

Lastly, I picked up 1,000 shares of CCHWF $5.60. It's a solid cannabis company trading at a nice discount right now. It seems to come back up to $7 pretty regularly and I've day traded them several times this year for a $1200 profit so far.

Edited June 11, 2021 by DoctorEncore

[jonebone | 1,307]

Anyone else playing WISH?  I bought 300 shares the first day at $12.50 then added 200 more shares several days in a row as you could tell $11 was holding.  I'm in 1300 shares at $11.70 ish and it's finally getting out above $13.  $12 was the pivotal level it looks to have blown through that finally.  

Would love to add more to the position but not sure if I'll get the chance.  The meme hype got this on my radar but I played it for a couple of reasons:

1) Didn't mind going long and saw very little risk below $10.

2) The steep spike down to $8 on May 13 coincided first available day to sell shares post the IPO lockup period.  Early adopters probably dumped it there, or emotional traders.

3) The two days of meme hype mania did ridiculous volume, more than shares outstanding in a 2 days stretch.  You could tell ownership almost entirely turned over, old shares were mostly in the hands of new owners.

4) Average volume after IPO dump was around 10M shares a day, average volume over past two weeks has been about 100M shares a day, on a float size of about 360M shares available.

End of day, it always boils down to price and volume, simple as that. When the volume is there you just go along with the flow and it works out much more often than not. 

Edited June 21, 2021 by jonebone

[arch_8ngel | 1,597]

6 minutes ago, jonebone said:

Anyone else playing WISH?  I bought 300 shares the first day at $12.50 then added 200 more shares several days in a row as you could tell $11 was holding.  I'm in 1300 shares at $11.70 ish and it's finally getting out above $13.  $12 was the pivotal level it looks to have blown through that finally.  

...

I still have some from a couple weeks ago.  Only meme I am still currently holding.

[DoctorEncore | 3,691]

1 hour ago, jonebone said:

Anyone else playing WISH?  I bought 300 shares the first day at $12.50 then added 200 more shares several days in a row as you could tell $11 was holding.  I'm in 1300 shares at $11.70 ish and it's finally getting out above $13.  $12 was the pivotal level it looks to have blown through that finally.  

Would love to add more to the position but not sure if I'll get the chance.  The meme hype got this on my radar but I played it for a couple of reasons:

1) Didn't mind going long and saw very little risk below $10.

2) The steep spike down to $8 on May 13 coincided first available day to sell shares post the IPO lockup period.  Early adopters probably dumped it there, or emotional traders.

3) The two days of meme hype mania did ridiculous volume, more than shares outstanding in a 2 days stretch.  You could tell ownership almost entirely turned over, old shares were mostly in the hands of new owners.

4) Average volume after IPO dump was around 10M shares a day, average volume over past two weeks has been about 100M shares a day, on a float size of about 360M shares available.

End of day, it always boils down to price and volume, simple as that. When the volume is there you just go along with the flow and it works out much more often than not. 

I sold eight $10 puts on it last week for an easy $450. I might buy some puts to gamble a bit if I can get a good price. Not holding any actual shares because I don't think it's a particularly amazing company.

[doner24 | 1,195]

2 hours ago, jonebone said:

Anyone else playing WISH?  I bought 300 shares the first day at $12.50 then added 200 more shares several days in a row as you could tell $11 was holding.  I'm in 1300 shares at $11.70 ish and it's finally getting out above $13.  $12 was the pivotal level it looks to have blown through that finally.  

Would love to add more to the position but not sure if I'll get the chance.  The meme hype got this on my radar but I played it for a couple of reasons:

1) Didn't mind going long and saw very little risk below $10.

2) The steep spike down to $8 on May 13 coincided first available day to sell shares post the IPO lockup period.  Early adopters probably dumped it there, or emotional traders.

3) The two days of meme hype mania did ridiculous volume, more than shares outstanding in a 2 days stretch.  You could tell ownership almost entirely turned over, old shares were mostly in the hands of new owners.

4) Average volume after IPO dump was around 10M shares a day, average volume over past two weeks has been about 100M shares a day, on a float size of about 360M shares available.

End of day, it always boils down to price and volume, simple as that. When the volume is there you just go along with the flow and it works out much more often than not. 

I have 212 shares at $9.33. Not sure my exit strategy on this one yet, might just hold to see if it explodes as I don’t think there’s much downside at my entry. 

[DoctorEncore | 3,691]

1 hour ago, doner24 said:

I have 212 shares at $9.33. Not sure my exit strategy on this one yet, might just hold to see if it explodes as I don’t think there’s much downside at my entry. 

That's a great entry point. Do you have an exit strategy? Have you considered selling covered calls at $14.5 or $15?

[Kguillemette | 1,544]

Still holding my wish shares long. Ill buy in more if it dips to 12 again.

Edit: Not gonna lie, I sold 20 shares of LAC for a loss to buy more wish at the dip to 13.40 before close bringing my avg to about $15 per share. (Yes, I had some heavy bags on WISH.) Total YOLO move, but whatever at this point. Up to 70 shares now. I still plan to hold this one long term, but may change my mind and reduce my position depending where this ends up.

Edited June 21, 2021 by Kguillemette

[Gloves | 11,777]

Ayyyyyyyy nice. 

[jonebone | 1,307]

23 hours ago, DoctorEncore said:

That's a great entry point. Do you have an exit strategy? Have you considered selling covered calls at $14.5 or $15?

I got called out of GME and AMC way too early, albeit at nice profits, but I wouldn't want to sell covered calls that close to the money on WISH right now.  The momentum is just too strong.

Grabbed another 200 shares today at $13.25.  Not sure how big I'll go with the position but I'm taking it day by day and assessing the volume and pattern before committing.

Great read to anyone thinking about getting into truly "Investing" in WISH.  A writeup by a big instituational investor:

https://docsend.com/view/zuw9nz7aq7apzzm5

I'm definitely playing the swing and would get out near term if it did a nice run to $20+, but also not scared of going long if it stalls a bit.  Volume is pretty darn high though and I'd be shocked if the buyers let it fall below $12 again in the near term.

[DoctorEncore | 3,691]

4 hours ago, jonebone said:

I got called out of GME and AMC way too early, albeit at nice profits, but I wouldn't want to sell covered calls that close to the money on WISH right now.  The momentum is just too strong.

Grabbed another 200 shares today at $13.25.  Not sure how big I'll go with the position but I'm taking it day by day and assessing the volume and pattern before committing.

Great read to anyone thinking about getting into truly "Investing" in WISH.  A writeup by a big instituational investor:

https://docsend.com/view/zuw9nz7aq7apzzm5

I'm definitely playing the swing and would get out near term if it did a nice run to $20+, but also not scared of going long if it stalls a bit.  Volume is pretty darn high though and I'd be shocked if the buyers let it fall below $12 again in the near term.

I'm newish to options, but I've been swing trading covered calls on CLOV for the last couple weeks. The volatility of the meme stocks makes for some interesting plays.

Last week I bought 1000 shares of CLOV just below a strike price ($13), then immediately sold ten weekly covered calls for about $1000 in premium. If the stock had gone up, I would simply pocket the $1000 plus a small profit on the stock sale and call it a week.

It gets more interesting if the stock goes down a bit. In that scenario, if the call price drops a lot, I buy back the calls for a fraction of the price and keep 50-75% of the Premium. Since I then have control of my shares again, I wait for it to go back up towards the same strike price and sell the same covered calls.

For example, I sold ten 6/25 calls for $1k last Friday. The stock dropped a lot yesterday so I bought the calls back for $250 for a profit of $750. CLOV went way up again today, so I sold more covered calls for $1200. So I made about $2k selling the same covered calls twice. And if it drops again, I'll buy them back and be ready to do it again. Low risk, decent reward.

Options are awesome.

P.S. I also bought some WISH puts, so we'll see how that pans out this week.

[jonebone | 1,307]

WBA unexpectedly on sale today for the buy and hold crowd.  Had to add some more shares due to the unexpected sale.  Earning beat, increased forecasts for rest of year and pays a 3.5% dividend.  Didn't expect to add to my current position but figured I had to at $49. 

[arch_8ngel | 1,597]

1 hour ago, jonebone said:

WBA unexpectedly on sale today for the buy and hold crowd.  Had to add some more shares due to the unexpected sale.  Earning beat, increased forecasts for rest of year and pays a 3.5% dividend.  Didn't expect to add to my current position but figured I had to at $49. 

Wow, that is quite a drop today.  Only meaningfully related headlines have to do with lower covid-19 vaccinations expected for Q4.  

[jonebone | 1,307]

17 minutes ago, arch_8ngel said:

Wow, that is quite a drop today.  Only meaningfully related headlines have to do with lower covid-19 vaccinations expected for Q4.  

I don't like to buy a drop out of the gate but if it's a big name company I want to own I may take the chance.

Last one worked out pretty good for me, eBay. Bought them late April after they tanked on what I thought were solid earnings was in around $56.  And it's been pretty much straight up the last 2 months, though I only have a very small position there.  

End of day, if you really want to own a company a post earnings sale isn't always a bad thing.