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07-01-2021, 09:58 AM | #10396 |
MVP
Join Date: Mar 2019
Location: KC
Casino cash: $3530400
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Posts: 7,576
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07-01-2021, 09:58 AM | #10397 | |
Starter
Join Date: Nov 2004
Location: asdf
Casino cash: $3257963
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Quote:
Their phone app definitely needs some work. Lack of real time data ( or close) without pull to refresh is a problem for me. I still use Robinhood's app for this purpose alone as I have no stock with them. Options related activities is overly complicated. Setting price alerts. Choosing which market to route trades through is another feature I'm looking for. |
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Posts: 515
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07-01-2021, 10:08 AM | #10398 |
MVP
Join Date: Mar 2004
Location: Helena, MT
Casino cash: $2328849
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The basis of the strategy is selling naked, out of the money puts on margin.
There were definitely mistakes made in this process and room for refinement. For example, there have been some periods of inactivity due to my inability to find adequate return versus risk. Also included as a loss, I was selling in the money vixy puts as a hedge and did not include the remaining balance of vixy I am holding in the return. I do not feel vixy tracks with volatility in a timely or sufficient manner to be an effective hedge. There were certainly periods where I was testing my risk tolerance, but due diligence and the ability to roll effectively has built up my confidence that the strategy is not going to bankrupt me lol |
Posts: 18,631
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07-01-2021, 10:13 AM | #10399 |
Supporter
Join Date: Aug 2005
Location: Hermosa, SD
Casino cash: $10176551
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“When war breaks out people say: 'It won't last, it's too stupid.' And war is certainly too stupid, but that doesn't prevent It from lasting.” ~Albert Camus, The Plague. |
Posts: 44,355
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07-01-2021, 10:51 AM | #10400 |
You're CARICATURES, ALL of you
Join Date: Sep 2006
Location: Kansas City, MO
Casino cash: $110960
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Yeah, but that's not what I am referring to in regards to editing a watch list. I would like to include stock rating (bull vs. bear), last note added to a stock symbol, etc.
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“There is no absolute knowledge. And those who claim it, whether they are scientists or dogmatists, open the door to tragedy.” - Jacob Bronowski, The Ascent of Man |
Posts: 11,258
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07-01-2021, 11:17 AM | #10401 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $51900
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Where are the BNGO bag holders?!?!?!
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Posts: 46,135
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07-01-2021, 11:27 AM | #10402 |
Fish are scared of me
Join Date: Nov 2001
Casino cash: $-49523
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Posts: 40,648
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07-01-2021, 11:32 AM | #10403 |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
Casino cash: $408244
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Posts: 35,466
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1 0 |
07-01-2021, 12:11 PM | #10404 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $51900
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Posts: 46,135
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07-01-2021, 12:19 PM | #10405 |
Mammoth penis
Join Date: May 2006
Location: Springfield
Casino cash: $7254386
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Posts: 11,434
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07-01-2021, 01:57 PM | #10406 |
MVP
Join Date: Mar 2019
Location: KC
Casino cash: $3530400
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Posts: 7,576
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07-01-2021, 02:57 PM | #10407 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $51900
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Quote:
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Posts: 46,135
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07-01-2021, 03:43 PM | #10408 |
Supporter
Join Date: Aug 2005
Location: Hermosa, SD
Casino cash: $10176551
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I have my IRA in Fidelity and it’s fine for that. For my watchlist I have $100 that I rarely trade sitting in a TOS TD acct that I just basically use them for their app and use that as a watchlist.
__________________
“When war breaks out people say: 'It won't last, it's too stupid.' And war is certainly too stupid, but that doesn't prevent It from lasting.” ~Albert Camus, The Plague. |
Posts: 44,355
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07-01-2021, 04:18 PM | #10409 | |
MVP
Join Date: Mar 2004
Location: Helena, MT
Casino cash: $2328849
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Quote:
My biggest risk is margin call, so I leave a healthy buying power buffer to absorb positions turning against me. I also ensure that I can take on any one position I enter with straight cash and vary expirations (to mitigate assignment risk). However, I will end up leveraged up to 4-5x underlying value by running multiple positions. I accept that a catastrophic event like a -20-30% market-wide week might break me; however, if volatility is up, you can roll a lot further down to reduce margin requirements - plus my hope is that in that situation I can liquidate my vixy position to buy me enough breathing room to avoid forced liquidation and ruin. The biggest trouble I have gotten into is when not sufficiently diversifying the sectors I am selling in. Admittedly, I haven't really experienced full leverage and full blown crisis yet, and this market has proven resilient, so rolling down and out has been effective in preventing losses. I have taken shares a handful of times - and generally sell calls at or above my price taken until they go away. I haven't lost money yet in any given position - but have incurred opportunity cost losses, if you will, from extending positions by rolling down and out. |
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Posts: 18,631
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07-01-2021, 04:37 PM | #10410 |
You're CARICATURES, ALL of you
Join Date: Sep 2006
Location: Kansas City, MO
Casino cash: $110960
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Got my Roth with Fidelity as well. Added an individual account to invest into some growth mutual funds and now I'm adding / building a portfolio. What's funny is that the watch lists in the mobile app almost give me everything I want as far as info on the stocks.
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“There is no absolute knowledge. And those who claim it, whether they are scientists or dogmatists, open the door to tragedy.” - Jacob Bronowski, The Ascent of Man |
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