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Thursday, March 28, 2024

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  1. phil

    New Portfolios – You guys need to understand the logistics of this – we can't do some one way and some the other – it wouldn't be fair to anyone.  The main purpose of this site is to tech people how to pick and manage positions and build wealth using option strategies – the portfolios are just a tool we use to illustrate it.  

    As to the FU stocks, while it is very likely we'll get back in them in Jan, it would be silly not to treat them as new positions at the time.  Those losses will cancel out some of our gains from other positions this year but, going forward, they'll be new positions like any others we add.

    Meanwhile, if you personally (Jabob) have any FU positions or whatever that you can't seem to let go of – all you need to do is say (and I will have a heart attack if anyone actually uses my preferred format):  "Phil, I have this position in FTR:

    • Bought 6,000 shares at an average of $12.69, now $9.14
    • Sold 60 2020 $10 puts at $2.20, now $5.50
    • Sold 60 2020 $12 calls at $2.40, now $1.20

    What do you think a good adjustment would be?"

    See how easy that is?  I can look at ANY trade like that and tell you what I think of it and discuss possible adjustments based on your goals and dreams and hopes and fears.  A stock doesn't have to be in our portfolios to have those conversations.

    Dump/Tangled – It's not an emergency.  Ask for good prices, see what gets filled.

    FCX/Scott – What a boring stock for kids!  I do like them long-term.  They are at $14.55 at the moment and you say break-even so, taxwise, you can sell "now" effectively, but actually sell in your tax window by, for example, selling the May $12 calls for $3.15.  That effectively pays you $14.15 so 0.30 more than we're at now and FCX doesn't pay a dividend so not too likely to get called away and, even if you do – you're only selling the stock for $11, right?   If they do drop significantly, your new entry point is effectively $11ish.

    Losers/Maya – I will be taking many suggestions in Jan as to what to add – all 3 of those I would want.  Is M even a loser?

    CBi/QC – Another one I'd love to own going forward. 



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