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Ratio of 1:1.0073, was hoping for more. Oh, well, just happy that Uphold and Flare are going to credit me Spark for all my XRP, even what was lost to Cred. That ratio is much more than 0.0073 to 1, sadly.
Go... crypto!
So, not to be an agent provocateur, but shouldn’t we be planning to ignore en masse these check boxes on top of the Form 1040 about having crypto? (Not trading in taxable accounts; just having, period.) I mean, if we let that slide, then what other inappropriate questions do we allow on this slippery slope?
Do you or have you at any time in the past tax year held a gun in your hand? Or gold? Or diamonds?
Have you bought or consumed milk, eggs, or red meat?
Have you at any time in the last year had in your possession a peanut?
Crazy conspiracy chatter? One man’s ad absurdum is another bureaucrat’s “Hmm, yeah, why not do that, too?”
And if you can sue about having a citizenship question on the Census form, seems like this is just as worthwhile a thing to challenge in court.
Glad I got in this two years ago. Sad I started selling after only doubling my money and then some last year. Glad I did not sell it all. Sad I sold some more at 19 something. (Seriously, how could I forget the rule?: If it gets to 19, it is going to 20. Patience, Grasshopper.) Even more sad I did not reload after the last correction. Glad to see it got to 30 so fast I did not even have time to make the mistake of selling some at 25.
What next? Will I be glad or sad I sold a little more near today’s top?
Have a couple of covered calls expiring tomorrow. I sure did not expect them to be in danger of being out of the money come expiration. Indeed I was kicking myself for selling prematurely and cheaply soon after I sold them. This despite the fact that I have been selling covered calls all year and only once has PFE finished above the strike price on the day of assignment. This time I was sure would be the time they all got called away and I would be completely out of this stock. Now it is looking like I may end the year with even more shares.
Never underestimate the rule: buy on the rumor, sell on the fact. Turns out it still applied here; just might have been off on the timing a little.
Now that is the two million dollar question, isn't it? According to the Detailed Quote here, there are 338 million shares issued, which is... what?... Good?... Bad?... I'm not sure; at least it is less than 10 billion, like some stinkers. Meanwhile the float is only 15 million; even I know that is nice and low. That has always been one of the selling points with this ticker, sometimes the only selling point, except for the ticker symbol itself (which management has not nearly capitalized on as much as they could have done, IMO).
So, again, if they are going to be in the business of selling product, that is good and might even justify higher prices. If they are going to be in the business of selling shares... look out, below!
Sold another cash covered put worth two dividends. Speaking of which, Pfizer just raised the dividend by a penny to 39 cents a quarter. That would be 4% yearly at $39/share.
In case you have not noticed, PFE is not a high flying penny stock or a CEO-as-tech-darling play like TSLA or some others we could recall over the years. It is a stodgy old blue chip dividend paying corporation, so much so that, until recently, it was in the Dow 30. It left the Dow this year before paying out a 12.4% dividend last month in the form of shares in another company, VTRS.
Yes, these dividend champs are capable of some money making swings. If the 4% annual yield is too boring for you, that is where options come in to let you squeeze some more out of your position. For those who crave more "action," cash covered puts or covered calls can provide that while you wait for that quarterly payout. I suggest selling the former on down days, and the latter (if you have the shares) on up days.
I just put up 10k for 10 cents. Hope that limit order doesn't create a wall to slow this down. Ha ha ha. What the heck, might as well set a crazy exit. Playing with house money as it is. Had to take a little off the table to make sure this was a winner even if it retraces to trips... which seems unlikely unless...
It is right to be concerned here with such a meteoric rise, but to ask whether the company is making these Covid tests or just selling them is missing the point, I think. I would bet the rest of my shares that they are not making them. But, you know, plenty of companies make a living as a retailer. The only question is: what are they ultimately selling? Test kits... or more shares?
Go, MJTV! (Is that not a great ticker symbol? And not even the reason we are up the last couple of days. It was the reason we were up a week ago, along with all the MJ/CBD plays, but not now.)
Well, at least we have new bag holders in above 50 cents. I would hope that means more who will be holding out for no less than a dollar. Me, I need a lot more than that to have any meaningful impact. Meanwhile I plan to make use of those Spark tokens as soon as they are distributed.* Glad to hear from the Uphold FAQ that I got credit for all my XRP, even the amount I expect to never see again.
*If there is utility to these coins, might as well utilize them, not just hold for price appreciation.
Not expecting more than a tiny fraction back from Cred once the Chapter 11 is complete and not sure if any would be denominated in anything other than USD. But, yes, I was wondering about getting credit from Flare for the XRP with Cred. Cred said you would get Spark for your XRP in their programs, but then again, Cred said a lot of things, so I did not have my hopes up. It would certainly ease the pain (slightly) of my XRP being in limbo with little hope of return, if the Spark was not gobbled up in the bankruptcy process and instead was sent automatically to Uphold.
If Spark takes off, that would be even better, although I know you are predicting an immediate sell off this weekend as people cash out. I do not expect to be one of those people. I need XRP (and Spark) to go a lot higher than wherever they will be on Saturday. Do we think Uphold will add Spark to its list of cryptos that you can trade?
Not enough; need it to double from here.
I know there is supposed to be an alt season for crypto. How about a penny season? C'mon, pennies! Seeing a lot of green on the day, but still red overall on a lot of these tried and true tickers.
Sucks to be in the wrong MJ play. APYP took a year to get from 0.0001 to 0.0002, but now three months later, it has doubled twice to 0.0008.
Going to 8 in three months might be a tall order for BNGI. I will settle for half that.
This only has to double two more times... and I will be green. Bwah ha ha!
: - ) Go, Clad!
Precedes are nice, but proceeds are even better. : - )
Would like to see a 4 here. Double again like Ironclad just did. (That one I need to double twice more.)
December 12 said to honor Martha Jane Coston, born on that date in 1826. Coincidence on the timing? Lucky that day falls on a weekend this year? Not sure about that, but I will note, for the honor, she beat out Frank Sinatra, Mayim Bialik, and Bob Barker. But then none of those other December 12 babies invented a flare to be used at sea. Mrs. Coston did, building on the work of her late husband. She went on to score a government contract at the beginning of the Civil War, no less. Sounds like her Coston Signal Company would have made a good penny stock. (Just don’t get stuck in hold-and-hope mode!)
As far as I know, she never had to deal with a central bank, IMF, or an SEC to provide “regulatory clarity.” Go... XRP! Me, I still need this to double again, and then become a ten-bagger from that point. So seriously, go XRP!
Range less than a buck and three quarters? What is this world coming to?!? I like the volatility and the juicier options premiums that brings. Now I will have to go out another week to get any time value, if this thing cools down.
Forward With Darcy? Gotta love the Uber mensch
Ben, before you ask, I sold some for tax purposes. (Yes, believe it or not, sometimes you sell winners for tax purposes, not just losers.) Holding the rest for much higher prices, higher than the last really strong resistance of the past year.
Go, Hawk! Go, Darcy! Go, Uber! ; - ) ... just imagine if Jelly was back on board; then we’d really fly
Looks like half the bag holders bought 1s (and maybe some 2s) if they are willing to take 0.0002 to get out.
Going to need a lot of Ask Slapping to get through that. Then, yes, indeed, the sky’s the limit, if only because you would have to be really long term here to even remember what BNGI trading at 0.0003 looked like. (Believe it or not, it did that regularly last year.)
The Beyoncé’s dad news got this from there to a bid of 0.0006 with ease. I would think we would need something even more dramatic to do that again.
Thanks to dip, sold another cash covered put. I will sell another if we actually get a healthy pullback to bring this closer to 39 than 40.
Remember this one pays dividends. We just got paid a couple days ago, with the ex-dividend November 5, so the next ex-div day is a couple months from now, the first week of February. Plenty of time to move in and out.
That dividend helps me price my options. I like to make my premiums multiples of the quarterly payout. So then I can squeeze a few dividend’s worth out of it in three weeks, rather than tie my money up for three months. If the price stays down and the shares get assigned... then it’s covered call time.
Six dollars between the low and high today. That is a lot even for this one. Twenty or twenty-five percent, depending on whether you are looking down from 30, or looking up from 24. Not for the faint of heart, either way you look at it.
But that is why God invented cash covered puts. Pick your strike price and your expiration date and take your chances. And don't skimp on the premium; make it a crazy number. Today it would have not seemed nearly crazy enough.
Not sure I would be a buyer today, what with tomorrow being the 1st and all. Remember that constant FUD last year? But, just in case...
What would the impact be of releasing all 1 billion XRP from this month's escrow? It would inflate the amount in circulation by about 2%. Hmm... let me check that... Trading View says 45.348 available coins at a market cap of $29.267 billion, at a price of about 64.5 cents. (Your price may vary.) So add the billion coins and divide the 29.267 billion by 46.348. That would give you a price of 63.1 cents.
Considering the price swings in XRP are much greater than 2% daily, I think most of our stomachs could handle that. (XRP would still be higher than Tether on the list; I like being above that dividing line.)
Oh, did I steal anyone's thunder? Sorry. ; - )
Unlikely scenario, but even if it happens, not too much impact. But I am curious to see if Ripple will be tempted to release more than they were averaging last year (which was no more than a third of the billion as I recall). Where would they spend it? Is there another Moneygram deal in the works? They couldn't simply sell it for a quick 630 million bucks, because that WOULD drive down the price for sure.
The USD in XRPUSD is the US dollar. So XRPUSD reflects the currency pair (or in this case, cryptocurrency/fiat pair) that the vast majority of iHubbers are going to be following. The others you see when you start typing XRP in the Get Quote search field are other pairs. (You might recognize most: Bitcoin, Ether, the Euro, the British pound, The Brazilian Real, and... without looking it up, I am guessing KRW would be for Korea’s currency.)
I assume those other boards have no on-going discussions. If you want to grouse about or cheer on XRP, you come here. Occasionally you also get news or some other usual information.
; - )
I will be saying God bless short sellers if and when this bounces back next week or, even better yet, goes flat. The latter scenario seems the least likely possibility of all, including the chance of retracing some more. As I say, there are two sides to a spike; that is what makes it so pointy.
Meanwhile, we know Magneto wants to unload more of his position when he gets a chance. When is that happening? That would be a good thing to know.
Hey, G Street, while BBUCQ and DOMR sleep, what about CWNR? Are you still in that one? It has had the sword of Damocles hanging over it for quite a few months. (That means a reverse split has been promised in a letter of intent; an r/s tends to be as bearish as a split is bullish.) But dang, you could have traded it many times over since that announcement, not in big volume, but hey, as long as Fidelity charges you nothing on the way in and only a penny on the way out, those double-digit swings will work.
Note: I am not pumping it. (I'm not really a pumper.) But thought you might like to know. For me to add, it would need to dip at least 25%.
Speaking of dips, have you been following the latest Peter Thiel play, PLTR? I noticed it a couple weeks ago and I'm glad I did. Got pretty lofty there, with a huge open this morning, followed by its biggest plunge to date. It seems to have one down day per week, usually near the end of the week. So far, that has been a good time to buy (or even sell cash covered puts; it is only two months old and you can already trade options on it; that could get me into a lot of trouble.)
PLTR is not a penny stock, obviously, but very playable, with a lot of upside potential.
If you read the rest of the sentence, you will see that the r/s comes with the issuance of an additional 22,500,000 restricted shares in exchange for 100% of the outstanding shares in RCK Development LLC.
Won't those 22.5 million shares have a dilutive effect? Even if they are not available for us poor schlubs to trade.
Might be a buy after the split. As a rule, a split is bullish and conversely a reverse split is bearish, but I must admit that some reverses over the last year or so have actually got me back into the green. The headache is often with the broker failing to maintain the cost basis information. How hard can it be to keep a record of what was paid from one day to the next? It's 2020, for crying out loud. There's no technology available to these people to help them remember my cost basis? Give me a break.
Might be a buy now for those who are not worried about that headache. Maybe they will hold it in an IRA.
Buying the dip has been a good play so far. Got a little hot, so the cool off was not surprising and probably needed. Last down day was last Friday, so maybe that is a pattern to follow if two weeks in a row makes a pattern. Not much of one. Three weeks ago, Thursday was the dip day, with Friday back up.
Note: you can trade options on this. I would have regretted not selling a covered call this morning, but my initial position--my core--is untouchable. So I added some more shares near the end of the day and already wrote a covered call one week out. If I can get 10% a week from this, I will take it.
Soros is glad he did not sell all of his shares yet. Or at least his wallet is. (Magneto* can cry all the way to the bank for all I care.) So... when can he sell more? Might put that on the calendar as a day to "buy on the dip."
As for the low IPO price, I appreciate it. If indeed PLTR should have IPO'd in the 40's, it was very egalitarian of them to let us regular folks have the experience of getting in on something at "pre-IPO" prices. I only wish this had hit my radar a couple weeks sooner, darn it.
And here I was thinking selling cash covered puts yesterday on a second up day in a row was a bit FOMO of me, but glad I took the risk; it does not feel very risky today.
* I call him that. He kind of reminds you of the Magneto character from the X-Men movies, doesn't he? (Sir Ian, not Mr. Fassbinder.)
Ha, you need to put that in quotes with a winking smiley face, but I am going to laugh at that anyway.
Laugh all the way to the moon. ; - )
Yay, Gare, up 500%; just need that again and I'll be up!
: - )
But I'll settle for a double and then another double.
Apologies to Janet Yellen; been misspelling her name for the last six years for the sake of a punchline.
I was checking to see if her appointment would make history, but no... she will not be the first former Fed Chair to become Secretary of the Treasury. When Carter replaced G. William Miller with Paul Volcker, Miller took over at Treasury.
Go... XRP! I only need it to be a 20-bagger... from here. (Thanks a lot, Mr. Schatt.)
Trading again on Fidelity and still on E*trade. Thought that would be good news worth a bump of a tenth of a cent. But if Hawk is still late in filing something, why can you buy again with Fidelity? What lifted the stockblock?
As I said before when Ben Bernanke left his position as Fed Chair, "It's all over but the Yellin!"
Looks like XRP is not going to be for the faint of heart. Going up even faster than Palantir. Can't help but think that both are hedges against the Great Reset and other fascist conspiracies, but hey, makes as much sense as dollar cost averaging into gold for the last 25 years.
Not seeing where they say that for XRP. Are you sure? Webull says you can trade BTC, BCH, ETH, and LTC, which of course anyone can trade using Grayscale trusts through a regular brokerage. Grayscale added Bitcoin Cash and Litecoin recently.* They added Ethereum last year, and they already had trusts for Bitcoin and Ethereum Classic before that.
If indeed you can buy XRP there now, that would be bullish. Being difficult to buy can sometimes raise the price of an item, but generally for something with ample supply, availability is good, opens it up to more buyers. (Hmm...also more “traders”.)
So what is the explanation of the huge uptick? Rising tide? More focus on Spark as it gets nearer?
*and darn it, after the initial overpriced opening and the predictable subsequent drop, don’t you wish you had bought both of those?
Too bad I need it to double again, thanks to Cred (who has over half of my XRP). Not to mention the other coins where they have some, most, or all of mine. I get notifications from the Uphold app when anything I bought from them moves. Ooh, look at that, Stellar, BAT, Digibyte, and OMG are all up double-digit percentages. Oh, wait, never mind, some Ponzi-running punk took all of those.
Oh, well, go...XRP!
Happy that everyone is finally seeing some green, especially you dollar cost averaging types. Just remember there are two sides to a spike. That’s what makes them so pointy. These double digit days tend to be followed soon by a pullback. Although last time we went from 30 to 40 cents, that held for... how long? A couple of months.
When we can buy through Fidelity once again, then I will be happy. If you can still buy with E*Trade next week after they start applying their new Caveat Emptor policy, then I will be happy.
When we get back to a penny, I will be ecstatic.
I did not mean to actually buy shares through TD Ameritrade, G D it! ...even at 0.0032. That was supposed to just be a test to see that they would let you buy it; I did not figure somebody would slap that low. Good grief! Should have made it 0.002, I guess.
Now I need this to go up to 0.0047 just to cover the commission.
SMH (with extra chagrin)
I assume you are not buying through Fidelity. They are still not back on board. Schwab, yes (and with zero commission). E*trade, yes (commission also yes) this week, not so sure about next week.
TD Ameritrade, also yes, with an even higher commission (dirt cheap by last century's standards, prohibitively high now).
Fidelity has not get the memo; maybe tomorrow. But not yet.
: - )
Might be an opportunity there.
Just saying... if no buying with Fidelity now... then I can't imagine you will be able to buy with E*trade next week, unless we get the only news we need... that you can buy and sell this with all major brokers.
Buy and sell, not just sell. Is that asking too much, Hawk? Thought we were clear of Schreiber, so why any further delay?
So... instead of twenty cents on the dollar, I'll get back four, after the lawyers get paid. Great.
: - )
I may need to do a Roth conversion to balance out this dumpster fire. Or is that considered income, not capital gains? Anyway, if that is an option, I may finally get around to doing a self-directed IRA. Still have to figure that one out.
Oh, has it really been that long? Since I last put in a limit order to buy low? I guess it has. As for E*Trade, this is the last week before they implement their new Caveat Emptor rule. Need that paperwork up to date, folks.
C'mon, I know you can do it. Go... Hawk!
Well, darn, this one fell out of Fidelity favor. You could trade it there (commission free) and now you cannot. I assume that means next week when E*trade applies its new Caveat Emptor rules and stops being the place you can trade any old cr*p, you won't be able to buy it there either.
Your broker will still let you sell, of course. And somebody somewhere can buy, but if the places you can buy are few and far between, that means more accounts can only sell and not buy. How do you think the law physics will apply to that scenario?
I assume an updated filing of paperwork takes care of this. Otherwise there is no point in there being any good news. If you cannot buy, then news (good or bad), rumors, and the rest of it are completely useless. Becoming current itself will be the news. Will the content even be relevant?