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Since I think we need to still test the bottom overall, I would like to get back at $11.50.
Also looking at MSFT below 140. QQQ around 170. NVDA below 200. DIS below 90.
Looks like I'll actually make a little bit of money on the covered calls that I sold that expired today but are in the money. $15 strike but got 65 cents of premium. So I will have a profit if after hours trading has the stock finishing below $15.65, which looks likely.
True...and how many want to hold through the weekend. Although after hours final amount will be the deciding factor.
Appears you were correct. That's what makes a market.
Well, even bad news seems to be good. Unless things changed, I'll be called on Saturday.
I'm with you on thinking we're due for a slight pullback. I took a percentage of my holdings and sold 12.50 and 15.00 covered calls for this Friday against them. The revenue was good, even though I may be called (good thing today isn't Friday), I'll probably wait for SPCE to go down before using the covered call revenue to buy more. Plus I still have shares that I didn't sell against.
Do you ever sleep?
While volume is extremely high so far today (half of average volume in 1 hour), we will probably see a pullback later today (regardless of the new "buy" rating from MS) as traders take their profits.
Yes. They issued a press release. You need to specifically tell your broker to redeem all of your warrants BEFORE that date or they will be worthless. Or you can do what I did and just sell them, then wait for a dip and buy the shares.
If those people can afford a flight, they probably still can.
Selling weekly covered calls on half my SPCE holdings for income. If called, so be it.
TD Ameritrade Rating Change for JD.com Inc (JD):Downgraded to REDUCE from HOLD on 3/20/20
Because I bought a few thousand shares at $10.00 yesterday with my warrant sales profits, and I have a magic touch.
Actually, the general market is up.
Warrants sold a few days ago. Waited. Buying today with 20% more shares than I would have seen with the redemption.
I have. And while the post you are talking about may have been deleted. As of just a few days ago they were actually recruiting for two more pilots. Do you have a screen grab you can possibly share?
I know, but I wanted it to go up to sell. Can't buy the shares unless I sell the warrants. It is what it is. Right now, SPCE is at $12.29, so I'll just wait. I just don't see four up days in a row. And up days have been 1/2 or less the loss in the previous session. Yesterday Dow down almost 3,000 but only up 451 right now.
Warrants sold. Instead of dealing with the annoyance of having to order my brokers to redeem my warrants (you know you have to tell your broker, or they will expire worthless), I sold all of them, since I know how many shares they are worth. While the market is up today (and from where I sold), I suspect it will come down past current levels for SPCE by EOD Friday, where I will purchase my shares (my target price is $12.20 or lower). If it just keeps going up, I already have shares that will rise with the PPS.
It no longer matters to the warrant holders (they are locked in), although everyone including them (but not shorts) wants a higher PPS.
I don't even think the 7.5% delusion will matter, as the state of the planet will most of all. I've seen dividends declared and buypacks fail to move PPS in the expected direction.
If there was no other news or events happening in the world, which unfortunately is not the case, the share price should decrease by 7.5%, which is equal to the new delusion of the shares representing the warrants through a cashless redemption at the price given.
In Florida as well and looking at Disney as well. Have not sold any SPCE stock, warrants or call options (all still profitable as I bought early). I did sell some covered calls Wednesday that were out of the money and now worthless that expire tomorrow. Doesn't make up for paper losses, but a psychological good feeling.
Perhaps. Next support is $11.21
No problem. I've been a space head since as long as I remember. Even got to see a launch of the shuttle when I was a technology reporter for a magazine called Government Video. It was SO COOL. TV didn't do it justice.
It's May (https://www.spacelaunchschedule.com/launch-schedule/launch-details.php?id=1093). It's a different market. This is a NASA astronaut demo flight. Even when they will go to the ISS, it's different from what SPCE does. And they're not even close to carrying passengers based on all the clearances they will need, plus vertical launch prep for those paying about $10 Million.
Get used to it SPECs are the future of companies going public. And for the record, my warrants are still in the money.
I have now decided that technicals no longer matter. Not a hit on SPCE, same with other stocks.
I think you mean oversold.
If you use Boeing's $20 million investment for 1% of SPCE, and say that is what the capitalization should be based on, SPCE is a $2 billion company. But since that was an early investor, it should now be a multiple, so I'll use both 1.5X and 2X:
1.5X: $3 billion
2X: 4$ billion
Current market cap at $16.62/share ~$3.261B
Make of this what you may. I think we're oversold...but this is not a trade, but an investment.
New next support is $16.50. Already tested once.
Wrote too soon.
Still haven't hit $17.10 support... Yet.
Next two support levels: $17.10, $11.36
Next two resistance levels: $24.09, $25.98
TD Amertirade: ResearchTeam Rating Change: Upgrade to HOLD from REDUCE on 3/9/20
Concur. Not a good first article. Especially one that pushes the author's short position, regardless of his disclosure.
I was the first comment, as he had an error that needed to be fixed. He neglected the weight on wheels announcement on the second craft. Shoddy short research.
Thank you for taking the time as well.
Glad you enjoyed it. I just wanted to deal with all the hype (both long and short) that's out there. I appreciate the time you took to read and reply.
Only if it breaks support at 20.11, which it will probably do.
If interested, please see my Seeking Alpha blog post "Virgin Galactic: Understanding The WTF?" at https://seekingalpha.com/instablog/191735-mikeylv/5416955-virgin-galactic-understanding-wtf
My error.