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Curious if this is the news you sell (after buying the rumor), or if this will be an exception to that rule.
As much as Mr Karp loves a squeeze, I don’t expect one here. While all the put options betting on non-inclusion will be destroyed, we are already at highs for the year. Make that the last three years. I remember selling a February call in 2021 with a strike price of 46 and I got 4.70 for it. That must have been on the day it spiked . We have been looking for it to revisit 40 ever since.
What could hold us down now? Back then, we had price discovery, speculation on a bright fresh face, with no pesky P/E ratio to worry about, because it wasn’t profitable yet. Now we have positive earnings and a ratio to go with them, and, yeah, that sucker is kind of high. Not to mention a lot of macro headwinds. History says Fed rate cuts, as welcome as they might be, mark the beginning of a recession. Are we recession-proof? And September and October are often brutal, at least one if not both months. Last two years, October has been the low for much of the market. Two years in a row hardly makes a streak, but again, there is much to suggest we are in the season for bargain-hunting, not FOMO.
Having said that, I won’t be surprised if this particular ticker continues to pump. I will adjust to the idea of selling cash covered puts in the low 30’s, instead of the mid 20’s. Feeling pretty good about those cash covered October 32s right now.
Yes, got the alert Friday; sale date Monday 8/26 as per my Gains and Losses page. Those shares will go down as a 75% loss. Luckily those were what you folks call free shares (what I call house money). Looking at the record, the last time I sold shares, scored a nice 58% gain when it popped over 2 cents on Valentines Day 2022. Anybody remember that? That day I got 2.4 cents, which was double my last buy at 1.2 some time in 2019. All my buys were in 2019 when I was young and foolish, iHub and pennies had my attention, and a very bullish pb* made buying under 2 cents sound like a no-brainer.
Sorry for those who never had a chance to take profits. Here’s hoping you all have many winners this year to balance out this loser.
*not my financial advisor, of course
Uh, oh, when is that FDA thing happening? If it is coming soon, then the 60 cents Ask on Sept 5s looks like a bargain. I see there are over 1200 calls expiring on September 20 with a $5 strike price--and almost twice as many at the 7.5 strike. While only 360 puts at $5 are in play for next month. I have a little piece of that action. My position here will either shrink or increase by 50% depending on what side of 5 we are on in four weeks.
Selling both puts and calls is still my way to pull income from a stock like this that does not pay a dividend*. Of course the risk in that strategy is that you can be left behind if the stock really takes off and never comes back down. (That has not been a problem here so far.) For instance, up 11% Wednesday, and another 5% early yesterday morning before cooling off a bit. That's why you keep some shares safe from the options action.
*Come to think of it, I do that with blue chip dividend payers, too. Perhaps even more so. : - )
Wait, who got suspended from Twitter--and why? You, MS? Is that because you call it Twitter, not X?
: - )
Congrats on the win, folks. Why exactly is it a win again? Oh, because non of us have to pay the 125 million fine. (And Ripple saves 1.875 B, so maybe they can keep rolling those escrow accounts and not dump coins on us to raise money.)
Me, I still need a 20x from here (thanks to Cred, the bankruptcy nobody on YouTube goes on about), so... go, XRP!
I am not predicting a 20x, but if the best of this crypto cycle is still ahead of us, a 3x is certainly possible. (Claims of a potential short squeeze are usually nonsense, but if we can bust through some resistance and get a real run to new highs, by all means, let's do that.)
The re-flippening happened today. Will it last?
I will settle for both (XRP and TON) going up.
Which token is more likely to take part in the promised upcoming parabolic phase of this bull run? So far, it has not been XRP. Does that mean it is due?
Great, Toncoin flipping XRP is looking very inevitable. Just like the way it was last year with Solana. Wish I had got more when it was below 7 bucks.
Every time I see a positive post about this ecosystem, and the token keeps sliding, I am reminded that holding XRP is not equivalent to holding a share in Ripple. In other words, we didn't need a court case and a judge to tell us what we already knew: XRP is not a security. You want to invest in Ripple, you can use Linqto (mentioned in an earlier post). You'll need to be an accredited investor, or maybe become a Financial Advisor. (I think Crypto Eri had links to a course last year to do that.)
Speaking of YouTube influencers, with the exception of the level-headed Eri, I don't know who is worse: all the crypto channels that either dismiss XRP as a matter of course or decry the tokenomics, or the pumpers who make ridiculous pie-in-the-sky price predictions. I'm sorry, at this point, even $10 sounds like complete nonsense. Such a 20x would put it above ETH's current market cap. And, as I mentioned before, UP the market cap list is not the direction we seem to be going.
I just noticed the price of Warner Bros. Discovery. One TON is now worth more than a share of WBD. And they already have them beat on market cap. Not sure that is any consolation. Just saying... it's a new world (with a lot of the worst vestiges from the old still hanging in there). Speaking of which, I have sometimes thought that holding XRP was a hedge against nefarious types like the IMF and WEF. Now we are adding BRICS to that mix? Not sure how I feel about that.
You did not sell at 6 this time around, I hope. : - )
I added some shares under 6, because waiting for a big dip was not working. Patience is a virtue or so I've heard, but... I've had to add more 7.5 strikes to my options orders. I thought we could enjoy hanging around 5 for a while, but this thing is not accommodating that plan.
Is everyone enjoying this steady climb? We are just pennies away from being 100% up from the low for the year and yet this ticker is not on the breakout board. Which is good. Hitting #1 on the Hot Board is nearly always a sell signal.
Is Cathie buying the dip, while selling rips? Looks like she is taking profits in NVDA. Then again, Pfizer is not ripping. It has been down, currently in falling knife territory. Tempting... *
As for PLTR, I will have to sell another cash covered put the next time it dips; that has been working pretty well so far this year and the last.
*Oops, PFE up 4% today, Cathie, you may have blown that one! Don't worry; you are up 10% here. We will cover your mistakes.
; - )
How did that work out for you, ed? Did you get some 5's assigned to you last month? I only picked up another 100 shares in February, after doing the same in January. It was December when I increased my position here by 60%. Now all those shares are up for grabs at 5. We will find out in 10 days if that is a bargain or not. At worst it will be a 25% gain in 3 months.
I only have one position in cash covered puts. Those will also expire on the 15th. It will be like scoring a 20% dividend out of something that does not pay a dividend.* Wish I had more put positions; I will the next time this "pos" dips. BTW, I trade this in an IRA, so no Wash Sale worries. I won't presently become a millionaire like Volcano. But maybe future me will.
Obvious statement: I am not ed3/6me's financial advisor or anyone else's. Just demonstrating how you can milk a ticker for almost monthly income without it being a blue chip dividend payer. I can't say it removes those anxious feelings you get when it dumps (or pumps), but it will remove some cash off the table.
*I could use more such scores to keep up with inflation; you know, just in case Biden scapegoating evil corporations doesn't do the trick.
Well, there you go, XRP is airdrop heaven! : - )
I must have missed the memo on EVR. I hold half of my bags on Uphold and the other half in a wallet. (Not the one you mentioned; so I will have to check that.)
Sounds like, while XRP is good for airdrops, maybe Uphold is less so. I must say, I should hate Uphold with a purple passion for its connection to Cred, but since November 2020 they really have tried to make it up to us. They kept XRP listed so we could buy it cheaply (like we were Baron Rothschild) and see a 10x on the day Coinbase went public (even though Coinbase was still years from re-listing XRP). And speaking of beating Coinbase to the punch, Uphold tried to make me rich by listing BONK first, but did I jump on the opportunity to triple my money in a week? No, not me. (I did start to DCA on the dip and so maybe my latest 10 million barking memes have doubled. A 2x in two months is not quite as fun as a 3x in a few days, but I am relieved to see the pump to lift all doggies. Frankly, thought that was money down the toilet.)
Guess my subtle attempt to pump XRP failed. (Although looking better today.) Are people not buying the idea that this ecosystem is a good place for airdrops? FLR is now my hope to recover from the Cred bankruptcy disaster. Wouldn't it be funny if FLR flipped XRP? (On price per coin, not market cap; that would be the apocalypse.)
Speaking of flips, I wish I had put more into Solana once I realized it would flip us on the market cap list. But then if I had done that, I would probably have taken profits too early. As it is, I have to hold until 150 before considering selling even one SOL.
Speaking of airdrops, I got an email from our friends at Uphold warning of a phishing scam, and then another from them half an hour later saying I got some EVR. What is that? Something I earned from holding XRP, FLR, SGB, ExFi, or SOLO?
Another message from Uphold: One of my limit orders got bonked... if you know what I mean.
: - )
Was everyone here for FLR? Finally flying. Could the little coin lift the bigger one? Maybe the success of an airdrop will encourage people to come in anticipation of another one. Although, I still don't know where my Coreum is. Not on Uphold; maybe in a XUMM wallet? [Shrug] Or was I supposed to be doing something other than holding XRP for that one? Guess I failed to read the instructions correctly.
Maybe it was for SOLO, which I got along with Songbird and Flare (the Spark token name just did not stick, did it?), and another one... ExFi, I guess, but maybe so little SOLO, it did not merit a single drop (or drip) of Core from my "friends" at Uphold.
Come on now, a 6% pullback is something, if only intraday.
: - )
Maybe that was enough for somebody to sell a call and a put. (I only sold a put.)
It might be worth noting that we are up 50% already for the year. A breather at some point is quite predictable. When, how much, and for how long, is the question.
Going to fun (or maybe very stressful) to see what happens.
Whoops, indeed. Price spikes have a downside.
That's what makes them so pointy.
Chance to sell some cash covered puts may be coming up.
Thirty percent up; that beats most crypto rallies.
Glad I picked up some more shares during this past slack period. Sad I picked the wrong day to sell a call (that day being yesterday), but happy that most of my shares are not covering any calls. Not yet, anyway, Definitely should sell one more on this pop and then see what happens next. Any big profit-taking and I can sell another cash covered put.
Selling options still the best way to squeeze money out of this thing while we wait for it to get to $40/share and start paying dividends. (… he dreamed)
Buy low sell high has worked so far with this one. Or in my case, sell low and sell high. When it drops, I sell puts, and when it pops, I sell calls. (That's my way of getting "dividends" out of something that does not pay dividends.) Another spike and my Jun 7.5 order should catch.
I don't have quite as many shares as you do. Mine only account for 10% of one of my IRAs. But I am enjoying this recent rally all the same.
: - )
I would not mind playing GSOL and OSOL if I understood what the premium (or discount) was to NAV. I figure GSOL has a ridiculously high premium to the actual value of Solana in its holdings, but I am not sure about OSOL. Looks like it is in what they call Price Discovery. I would not mind a little premium, but if it is 5x, not so much. Just as soon buy more SOL. Glad I bought back in, but I won't get rich from my holdings...until it flips Ethereum.
: - )
Looks like the flippening happened overnight. Ouch!
Knew it was going to happen, but it still hurts. Well, maybe we can set our sights on BNB. Come on, XRP!
I have emailed Stretto three times with inquiries. No response yet. I don't think there has been anything on the court docket in 7 months, but the Donlin Recano website still lists it as an active case. The liquidation trust tried to do a clawback on me last year, even offered 70% reduction, but I replied that during the 90-day window I sent more than I received. Have not heard a peep from them since. That was back in Oct/Nov 2022. I see that they filed a claim against Celsius in January, so maybe that will drag things out more. I hate to say it, but it feels like all the money has already gone to lawyers, accountants, and to creditors "more important" than us retail schmucks.
Seems like the only chance we have of getting any pennies back on the dollar is if they have held onto some of the crypto and are waiting for Bitcoin to get back to 60k.
As for XRP, I see that we are only about 1.3 billion ahead of Solana in market cap. As soon as I saw the gap closing, I figured our getting flipped is an inevitability, so I re-bought into that one with some profits from the Osprey SOL trust. As it turns out, I should have just held onto those shares, but I had no clue about the NAV versus the price. I only know that the Grayscale one is way overvalued. Anyway... XRP could use a good buy-on-the rumor to liven things up, like if we were getting an ETF before Sol, that might do the trick.
As for Uphold, they did everything they could to give me a chance to make a quick killing, and I ignored the offer. That is to say, they actually listed BONK before Coinbase did.
: - }
GSOL? What about the Osprey Solana Trust $OSOL? That has been the proxy to play since the Grayscale one topped in November. A bit risky with low volume and not sure how over-priced it is versus the NAV. (Grayscale’s was definitely trading at a high premium.) Nevertheless, I took a chance on that one last week. Just in it a few days… then took my profits and bought more actual Solana.
My thesis is: once Bitcoin spot ETFs get approved, next to get an ETF after Ethereum will be SOL (no matter how much I wish something else was third in line). People seem to be frontrunning that possibility. (Along with the airdrops and the inevitability of flipping XRP—ouch!)
Guess we have to wait to be flipped by Solana… then maybe XRP can be the little engine that could.
Just two billion ahead in market cap now. Only a matter of time. That’s thanks to what…? Airdrops and ETF anticipation. It’s called having something to look forward to. We need something to look forward to. Coinbase can only go public once, and they already did that. : - /
Anyone staking SOL, and if so, where?
Uphold chickened out months ago.
Thanks
Boring as in stocks, bonds, metals, commodities, etc. You can do OK in those kinds of investments; indeed most of my plays are in traditional investments, selling options and capturing dividends from blue chips and so forth. But crypto is not like that... not yet.
Crypto was more fun at the beginning, 10 years ago, even 5 years ago. A roller coaster ride, one that was life changing, if you got off at the right times. Back in the day, getting some Bitcoin wasn't just an action, it was an act of defiance (or self-defense), a statement about the way the world works. And you could make some serious gains while doing it. That (the money-making part) is the promise of this latest cycle. Bitcoin might triple, Ether might do twice that. Solana may yet prove more than a VC coin. And the chance to 100x or 1000x if you pick the right altcoin? That is still possible this time around. But this might be the last chance to take the kind of ride where your life can change in a few years. Once institutions get in and control so much of it... well, we will see. That is what I mean by "enjoy the ride." It might be the last one worth getting on.
Frankly, I am not in a hurry to get the ETF approval. Remember the futures ETF (BITO) came out at the top of the last bull.
As for XRP, it needs to do about a 20x from here to take care of me. Gooooooo XRP!
Thrilled when our cap is higher than BNB. Now if we were above Tether, that would be something. That would be quite a trick, as I hear more Tether will print during this bull part of the crypto cycle.
Enjoy the ride. Do we all agree this might be the last face-melting bull run, and then the big money comes in and makes it boring?
Here I was all ready to get excited that this ticker had risen to Number 1 on the hot board, only to read the posts and see that all the heat is being provided by people flaming each other. So there is nothing of value here and all our shares (free ones, I hope, for the sake of everyone here) remain untradeable… but, wait!
What about TB’s post, 79131. Is that good news or old news or what?
Will ranging above 5 be the new normal? I have enjoyed accumulating under 5 for the last 15 months, even grabbed a few shares under 4. And got paid to do so by selling puts and calls, but if this is a new level, I will be parting with a couple of shares at the end of the week, and more next month. Will still hold a bag for the double digits, which were promised the last time we spiked this high. That was two and a half years ago.
Huge green in my brokerage account today, but...
...I am going to need more volume than that! : - )
Normally I would put in my limit order now, so I don't forget, but I am going to have to set a reminder for Monday morning. Don't want to overload the Ask.
That news, Coinbase relisting XRP, explains the pump. Frankly, being ruled not a security for retail is not really news. We already knew that our bags of XRP did not contain any securities.
So, is there some place we can stake XRP, like we can with FLR and SGB?
Hope you got an answer to your question. Up 10% this week. Looking at its history over the last couple of years, it could easily have swings that big in one day. Indeed an 18% swing happened 8 days ago.
If it dips, I will sell another cash covered put.
When you hit a grand slam home run in you’re first at bat, you want to remember to touch home plate. Otherwise the guys in the dugout will never let you live it down.
That sounds like some life wisdom that could translate to the world of finance, but of course none of us are in the position to give you or anyone else here financial advice, so this conversation should not be considered as such. With that disclaimer out of the way, I am glad to hear you sold half your position. That books some profit and gives you powder for your next move. Looks like you followed some advice I give myself when I buy an option one day and it is up big the next. I tell myself, if the market proves you correct immediately, take profits. Why wait until expiration date? If I bought some cheap way-out-of the money options, I might sell 60% and let the rest ride.
Those OTM options often expire worthless, as most do, but then people don’t think about how many times Mickey Mantle struck out; they just remember the big hits. If you are really fresh to options trading, it may be too soon to talk about selling instead of buying them. You need more cash in your account to do this, and there are fewer home runs with this strategy, but when the option expires worthless, you are on the winning side of that trade; you are the one pocketing the money for the option premium and moving on to the next trade.
By selling cash covered puts and covered calls here for about 2 and a half years, needless to say, I have accumulated a few shares (although probably fewer than many here). Down or flat markets are just as good for taking money off the table, but, I must admit, rallies are more fun to play. The experts will tell you not to get emotional about your trades, but, hey, every trader has a pulse, right? The trick is to stay in control and be patient. I do have a few end-of-year calls out there (that folks like you are smiling about right now), but also a put position expiring at the end of this month. I will sell another put if we see another sizable dip. GLTUA.
From broker: No time left for pump.
Actually they phrased it as "Non-transferable security removed."
So, what else have you got for me, G Street? Me, I have mostly moved from pennies to crypto and blue chips. By move, I don't mean I closed all my positions, otherwise I would not have got that message from my broker, but almost all my remaining shares from trades over the last 4 years are 90+% in the red. Happy to say many of those are house money (aka free shares), but still, a lot of clutter.
A few exceptions: Up 100% on NIHK and 1200% on NetList; all house money, so patiently waiting for the next pump if one ever comes.
The only one I saw here on iHub that I am still trading actively is Capricor, thanks to monthly options and a share price that fluctuates between 3 and 7. That has been a good one to milk for about 10% every time somebody buys an option from me. Either a put or a call, I sell one on dips and the other on rips.
As an experiment I left FLR on Uphold. (As an experiment, or as an act of laziness.)
Uphold wraps FLR for you (but not all, keeping some available for liquidity). The effect was that I got about 80% of what I got in the last airdrop. Which means, since I had more now than before, that I got something less than 80% of what I would have ... if Uphold had not stopped staking or if I had sent the FLR to Bifrost or something like that. I will check it out; thanks for the tip. Are both the website bifrostwallet.com and www.bifrost.com legitimate?
I was being sarcastic, but the pump continues for some reason. I expected there to be more of a retracement to 38 cents once the Coreum snapshot was taken. It gave up 4 cents quickly, but is now higher than last week's spike. All that remains is hope for good legal news.
Meanwhile Uphold chickened-out and says they are going to end staking. I don't suppose a favorable court result in the next month will make them change their mind.
Speaking of Coreum and Uphold, I am not sure when we will see the new token drop, but they are already making it available to trade. It is double-digit red today (as is Arbitrum).
Spoke too soon: Uphold wimping out on staking. They are not even waiting for a Wells notice. They are bailing on staking. Will take a month or so to un-stake everyone, depending on the blockchain.
Crud, how am I going to get the max amount of FLR on the 2nd 36th?
The notice of this came yesterday… and yet they let me stake the FLR I received today. [shrug]
Cred FLR came a day after Uphold FLR. It was more because I lost more than half of my XRP to Cred. That was nice of them to include that, but, of course, I'd rather have my XRP back, not to mention a whole lot of USD. Ouch!
I have staked all my FLR with Uphold as it comes. They offer staking for 32 of the 237 tokens they carry. Not sure how long that will last. I am keeping an Excel file so I will be ready for tax time next year. They won't send a 1099-MISC for the staking rewards or airdrops unless the total exceeds $600, but you still need to report it. Got screwed by the Songbird drop; should have sold it right away before the end of 2021. Paid more taxes on it than it is now worth. SOLO and ExFi, on the other hand, started low and have stayed low. Peanuts. SOLO up on the Coreum pump, though, but still down 50% from when we got it March 31, 2022.
PS With Uphold, you cannot stake XRP. Understandable. However, you can stake FLR and SGB. Eleven and ten percent yield respectively, I think.
XRP: come for the airdrop pumps and stay... for that judge's ruling, that is gonna be any day now. Just you wait and see!
Yeah, we probably should have all sold into that pump, just like it would have been smart to do for the last two airdrops. But then where would you buy back in? After a 10% correction? Twenty percent? More?
And don't forget... any day now... it's a-comin'!
Be glad you found Nexo when you did. If I am not mistaken it saved you completely from the Cred Earn debacle. And you avoided Celsius, too, I am guessing. As long as get your money back at the end of this relationship, you should feel like you made out like a bandit.
Poor Cred Earn creditors don't even get any attention. YouTubers spend hours on Celsius and FTX, but the Cred bankruptcy can't hold a candle to those disasters. No press. Nobody following the story. The liquidation trust lawyers tried claw-backs last year. I did the math for them back in October and I have not heard from them since. Meanwhile (twiddling my thumbs) I harvested some other old capital losses to lower my AGI, in case this drags out another year before I can claim the loss.
Speaking of Nexo and airdrops, willl you be getting any Coreum? (That is the reason XRP has pumped, which for some reason only I have acknowledged over on the other board. Are they afraid it will dump if we don't stick to the judge's ruling coming any day now narrative?)
Now have more FLR on Uphold than XRP. Admittedly I added some since the drop, because, if I understand correctly, that means my 1/36 was bigger than it would have been if I had just stuck with what I got in January (and staked it). Patiently waiting until next month to see how big my 2 of 36 is then.
Price just popped 17%. Weird thing to happen on a dilution day. Although a 36th is only 2.77%
This is probably due to the Coreum airdrop, coming in two days. Which means smart people should be selling into this pump, with a dump to follow in a few days. I misplayed the last two easy money airdrop pumps, so I will probably shrug through this one, too. Uphold flashed the news yesterday when I entered the app, so I did have a chance to load up before the pump. All I did was put in a crazy low limit order for more Sologenic. SOLO is also up nicely for the same reason. Guess I should have just bought at market; then I could be enjoying the 25% gain today.
You stumped me with your DFLR question, KC. After SGB, SOLO, EXFI, and now, finally FLR, I forgot all about DFLR. Not sure when and if I heard about that one. Is that something different than ExFi? I would probably defer you to You-Tubers like Crypto Eri or Mickey B Fresh for the answer to that.
The question I am thinking of asking Uphold is: Will all the staked FLR be considered wrapped? And therefore count towards getting the most out of subsequent drops (over the next 3 years). Logic dictates that staked tokens would not be available to provide liquidity for the exchange, but not sure logic always prevails.
Follow up: after looking on the internet, if I understand correctly, DFLR is to be distributed at a 1:172 ratio of FLR, but what FLR where or when, I don't know. And the D stands for DAO? Again, I am seeing an icon that looks exactly like the ExFi icon. Are we sure that all the drops we have been expecting have not already happened? I have a very small amount of ExFi, hardly worth mentioning, so, if anything the ratio was 1 of those for every 172 of FLR, if that.
No, I do not even have that much ExFi. Too bad. It is up 15%, one of the few things in my portfolio that is up this morning. Maybe it is up because people think that they need ExFi to participate in the DFLR drop. So... if I had scooped up more cheapily, I would be selling it now.