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Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

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Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

aparch said:
Once it resumes, next halt is at 13%.

A 20% drop will stop trading for today.
Click to expand...

IIRC, that second CB doesn't apply in the last 30-60 minutes of trading, only the final CB stops it then.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

BassAle said:
I sold some SPY puts just before the breaker tripped for a 350% gain. I might wish I held, but I'm a chicken.
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What was the cost of that option when you bought it?
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

The entire year's gains for Disney have been wiped out. The stock is now trading at under $100 weeks after hitting an all-time high at $153.

But hey, on the bright side, my shares of HMNY (MoviePass) haven't budged. Winning!!
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

aparch said:
Jim Cramer just stepped away from CNBC radio and took a phone call, just came back on air saying that the Fed is looking at enacting some of the things he mentioned earlier on air.

Sounds like there is a big pow-wow happening that will develop a giant stimulus plan dropping soon.
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This is extraordinarily stupid. French was right. This is a supply side AND demand side problem. The fix here isn't to lower rates. It's to dump money into the medical supply chain and give people money to spend. **** the short term economy right now. Time to prevent the long term damage caused by people being out for weeks in the hospital or dying.

All of this money should be dumped into getting masks, mechanical respirators, and other hospital equipment. This should be dump everything we have into stopping this virus. Who cares if we lose all of that money. Don't worry about loans, just treat this like a war and spend like a motherf*r to win.
 
dxmnkd316 said:
This is extraordinarily stupid. French was right. This is a supply side AND demand side problem. The fix here isn't to lower rates. It's to dump money into the medical supply chain and give people money to spend. **** the short term economy right now. Time to prevent the long term damage caused by people being out for weeks in the hospital or dying.

All of this money should be dumped into getting masks, mechanical respirators, and other hospital equipment. This should be dump everything we have into stopping this virus. Who cares if we lose all of that money. Don't worry about loans, just treat this like a war and spend like a motherf*r to win.
Click to expand...

Dude- trump and republicans do not get this. They do not care.
They want chaos, and my guess is they blame Obama? I dunno
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Still dropping. Down 9.25 overall (down almost two from the circuit breaker).

On pace for next circuit breaker before the top of the hour. :eek:

*edit* some buys happening, back into only an 8%-ish drop.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Democrats dooming us to repeat the past if they don't. And it won't be an oversight, it'll be a choice. <a href="https://t.co/Hc4rXfQxnF">https://t.co/Hc4rXfQxnF</a></p>— subscribe to my newsletter (@brianbeutler) <a href="https://twitter.com/brianbeutler/status/1238100236511436801?ref_src=twsrc%5Etfw">March 12, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

dxmnkd316 said:
What was the cost of that option when you bought it?
Click to expand...

I bought contracts that were really far out of the money ($200 strike price) so they were cheap. I bought them in two batches some at $60 per contract and some at $36 per contract. I don't remember what my average was. I sold them for $220 per contract.
 
dxmnkd316 said:
This is extraordinarily stupid. French was right. This is a supply side AND demand side problem. The fix here isn't to lower rates. It's to dump money into the medical supply chain and give people money to spend. **** the short term economy right now. Time to prevent the long term damage caused by people being out for weeks in the hospital or dying.

All of this money should be dumped into getting masks, mechanical respirators, and other hospital equipment. This should be dump everything we have into stopping this virus. Who cares if we lose all of that money. Don't worry about loans, just treat this like a war and spend like a motherf*r to win.
Click to expand...

Why are you assuming Sniffles doesn't want people to die?
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

BassAle said:
I bought contracts that were really far out of the money ($200 strike price) so they were cheap. I bought them in two batches some at $60 per contract and some at $36 per contract. I don't remember what my average was. I sold them for $220 per contract.
Click to expand...

$200 strike SPY? They're priced at $220 now?! Holy ****. That's... not good people are buying that low at that kind of premium.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

dxmnkd316 said:
$200 strike SPY? They're priced at $220 now?! Holy ****. That's... not good people are buying that low at that kind of premium.
Click to expand...

Yup. $220 per contract so $2.20 per share & break even price of 197.8 per share. SPY was trading around $280 when I started buying them.
 
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Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Deutsche Gopher Fan said:
Dude- trump and republicans do not get this. They do not care.
They want chaos, and my guess is they blame Obama? I dunno
Click to expand...

It's not that. it's that they view this entire thing as a Wall Street problem. That's the area they have to stabilize, at all costs.

The health of the public, common folk dying and such, doesn't even appear on their radar, other than how it would affect the markets.

The idiot's too stupid to understand that if he'd done a competent job at managing the public health aspect, Wall Street wouldn't be so scared, and markets would stabilize.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

BassAle said:
https://finance.yahoo.com/quote/SPY200330P00200000?p=SPY200330P00200000
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Yeah, edited above. I was being stupid.

Edit: Just a note to anyone who thinks they are going to get involved in options and make money, don't. Especially puts where you don't own the underlying security. My dad knows 100x what I do and he doesn't get involved in options much anymore. Only as a hedge and only covered options.
 
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Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

dxmnkd316 said:
Yeah, edited above. I was being stupid.

Edit: Just a note to anyone who thinks they are going to get involved in options and make money, don't. Especially puts where you don't own the underlying security. My dad knows 100x what I do and he doesn't get involved in options much anymore. Only as a hedge and only covered options.
Click to expand...

also note I'm BUYING put contracts not writing put contracts (buy to open). These give me the OPTION but not obligation to sell shares at a specified price. I don't have to exercise the option and planned (and did) sell them before expiration. My maximum risk is the option premium.

If I write the put contract (sell to open), then I'm obligated buy shares at the contracted price if the person that bought the contract exercises it.
 
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Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Hot stock tip: if you want to see your portfolio value skyrocket just hold your phone upside down.
 
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