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#1051 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $-1355266
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Quote:
I wouldn't do more than 10. They had that at Cabela's when I was there and I figured if they were doing that well, I would be able to extract more money from them through payroll rather than 401k. Whether that's right or not, I don't know. They also had an ESPP that I could get stock at a discount, so I did do some of that. |
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Posts: 59,928
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#1052 | |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
Casino cash: $-1643101
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Quote:
Just make sure that the fees (expense ratios) are reasonable. You really shouldn't be paying more than 1% in fees, so if it's much higher than that, you might want to reconsider your options. |
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Posts: 53,117
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#1053 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $-1348100
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Quote:
I wrote them and they have a section where you can apply for higher tier status for options trading other than covered calls. Might require like $2k in a money market it looks like. |
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Posts: 46,296
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#1054 | ||
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $-700000
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Quote:
Quote:
No brokerage firm allows average investors to take unlimited loss positions with shorting stocks or naked call writing without substantial equity of usually $250,000. Not unusual.
__________________
"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
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Posts: 54,911
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#1055 |
Rabbi Goldmann
Join Date: Nov 2012
Casino cash: $5450159
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I moved to all treasuries in my IRA
Market gonna correct big time I'll go back in and buy your shares at a discount |
Posts: 87,025
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#1056 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $-1348100
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I wasn't looking to do anything crazy like that but simply place a long call on a stock. A few hundred dollars for the premium. Couldn't lose more than that so I'm not sure why that's not allowed?
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Posts: 46,296
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#1057 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $-1355266
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Posts: 59,928
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#1058 |
Sexiest Athlete
Join Date: Apr 2001
Casino cash: $-1908075
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Posts: 12,700
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#1059 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $-700000
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The investor has some assets up as collateral such as a home or property. No one is going to let Average Joe get short and take a $500,000 loss with no ability to cover the margin call.
__________________
"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
Posts: 54,911
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#1060 | |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $-700000
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Quote:
If you own a stock and you want to write a covered call option against it, you usually need a margin account. Your position is protected as if your option was executed and called, you have the stock to hand over.
__________________
"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
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Posts: 54,911
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#1061 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $-1355266
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Quote:
Speaking of which, I just got my margin call. Yay!! |
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Posts: 59,928
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#1062 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $-700000
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I'm wondering what everyone thinks about buying Macy's at this price of around $22. It is yielding nearly 7% !!!
I know all about the Amazon effect but I gotta assume at least some of the better retailers will survive. I think you guys who bought in on "X" in the $20-21 will be happy in another year.
__________________
"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
Posts: 54,911
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#1063 |
In Search of a Life
Join Date: Jul 2009
Casino cash: $-525936
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So off topic a bit but I had a pretty good weekend in vegas this past weekend and made out with some cash. How do taxes in that work?
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Posts: 84,153
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#1064 |
Banned
Join Date: Jan 2013
Casino cash: $9998560
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How much cash. At some point, the casino reports those winnings and will have to be listed as additional income. I don't believe the casino taxes the money but they report it, I assume. I've never worried about it but I've never won what I would consider large sums.
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Posts: 53,803
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#1065 |
In Search of a Life
Join Date: Jul 2009
Casino cash: $-525936
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I took 2 grand in cash and walked out with 14 g.
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Posts: 84,153
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