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PaperclipPerfector  8mo ago (text post)   3169 thread views

Friday Fun Thread for March 8, 2024

Be advised: this thread is not for serious in-depth discussion of weighty topics (we have a link for that), this thread is not for anything Culture War related. This thread is for Fun. You got jokes? Share 'em. You got silly questions? Ask 'em.

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RE 1. I am not an extremely sophisticated investor. I generally buy and hold for 5+ years. Unless I have something I'd rather invest in, or the gains just get too rich (10x or so), I let things ride. I also tend to do this with my losses, since I know I'm not fast enough, or have enough inside information, to dip before things go south. So once I'm at the bottom, I figure I might as well ride it out, or save the losses for tax season to offset gains. Maybe this means I shouldn't have a self directed brokerage account at all, and if I ever dip below my 10% APY threshold I may consider that, but so far so good.

RE 2. You may be right about this one. I sold the first covered call, and my heart dipped when COIN went up enormously Friday evening and Monday morning. Turns out I might not have been as emotionally prepared to part with COIN @ 340 if it happened this early after all. Of course the price came back down, the call I sold is rapidly approaching worthlessness, down 85% from when I sold it, and it looks like I will escape the week a few hundred richer and with all my holdings in tact.

My whole reasoning behind attempting this is to keep it up with some regularity week to week, getting $100-200 here or there with some consistency. Sell calls that are at or above my strike price and only 4-5 days out, and just settle for whatever I can get for them. Paying for private school has been expensive and my monthly contributions to my brokerage account have dwindled precipitously. Selling covered calls seemed like a not terrible way to effectively goose my "contributions". But I may not have the emotional fortitude or sophistication for it after all.

We shall see what this Friday brings, and if I feel like repeating my efforts come Monday.

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