SIRI Monthly Thread October 2015 (with NFL Chat)

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Originally Posted by user34615145

It's good to have an exit plan denco....a strategy. The challenge is sticking with it and keeping your sell discipline as the price rises. We all know, from hard won experience it can go down a lot faster than it went up - certainly not just SIRI, but all stocks. Usually I would ask "why not sell the covered call at say, $4.50 and get paid to wait?" Usually this strategy has the added benefit of enforcing your sell discipline because as the stock price rises it starts to cost more and more to buy the calls back, which is usually a deterrent. But in the case of SIRI, there is really no premium offered at $4.50....not until you go out to march16 and even then it's not even a dime. Too much can happen in the next 5 months to make that a worthwhile transaction.
I guess another way to look at that is that the "smart money" isn't willing to pay up too much to lock in $4.50 so they must not feel very confident that it's gonna get there anytime soon....anyway, that's my $.02

Can we go back to talking about football and stuff now? Cause that's all the acquired SIRI wisdom I've got to share.

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Thanks for the input, User. Next time you see EDIT: A good time to enter - a good option strategy for a long position such as this one please let me know. I don't know much about options but have wanted to move in that direction at some point. Even if it means having some of my long position called away at higher levels.....Tks for the input.

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Originally Posted by bdp.

Sold 30k more shares at $4.08.

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nice hit bdp...congrats man!

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Originally Posted by radejs

Hey Denco, thanks for asking. How the heck are you?

Trading quite a bit less than I used too but I still look to you, Bassman and others on this board for insight on trading opportunities with SIRI. It has been a good ride, one of my better money makers. Now I just need the world to realize AAPL is undervalued and I will be REALLY happy!

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Agreed with respect to AAPL. I sure wouldn't sell it here. Still, even with today's pullback I'm a bit nervous buying at these prices. My strategy has been to sell the puts and try to pick up shares a bit cheaper. For example earlier today I sold this Friday op-ex $111 puts for $2.07...so if the sp keeps going down and I get put the stock I'll essentially be paying under $109 for them. Then I'll turn around and sell next week's $115 -118 calls and try to pick up a couple of more $$$ without actually getting the shares called away...if they DO get called away I go back to selling out of the money puts.

Maybe they want newly minted bagholders so they can short the piss out of it gain. I mean last time we hit 4.18 they shorted us all the way to 3.00 bucks.

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Originally Posted by denco1

Thanks for the input, User. Next time you see a good option strategy for a long position such as this one please let me know. I don't know much about options but have wanted to move in that direction at some point. Even if it means having some of my long position called away at higher levels.....Tks for the input.

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My strategy with calls is simple. Look at what other holdings you own and ask yourself "how long do I want to hold this stock and what price would I be happy to sell this at?"
Then go look at the options chain for a expiration date and price that is meets those needs. If neither do, then perhaps it's not worth it. Or...if you hold the stock and want to "create your own dividend" but not necessarily sell the stock yet, pick a strike price that is well above the current market price but not too far out - maybe a month....and write the call. worst case is it DOES get called away. Best case is, it doesn't and you just re-write those calls next month...and the month after and so on.

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Originally Posted by user34615145

My strategy with calls is simple. Look at what other holdings you own and ask yourself "how long do I want to hold this stock and what price would I be happy to sell this at?"
Then go look at the options chain for a expiration date and price that is meets those needs. If neither do, then perhaps it's not worth it. Or...if you hold the stock and want to "create your own dividend" but not necessarily sell the stock yet, pick a strike price that is well above the current market price but not too far out - maybe a month....and write the call. worst case is it DOES get called away. Best case is, it doesn't and you just re-write those calls next month...and the month after and so on.

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Dough boy we get it. zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

I have no problem ignoring that fat douchebag that claims to work out everyday. I have him on ignore yet he continued to stalk and bash every comment I made. If the fat loser would agree to that, I am down for it. BUT I refuse to change my opinion on Sirius XM or any other stocks. I have just as much right to be here as you do. If you have a problem with it then ask Charles. I am sure DM emails him daily asking him to ban me. HAHAHA

Consider the fat loser IGNORED. :) HAHAHAHAHAHA

Edit: Has not hit $4.10 and TIME IS OUT! :) hahahaha I love it.

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Originally Posted by user34615145

Agreed with respect to AAPL. I sure wouldn't sell it here. Still, even with today's pullback I'm a bit nervous buying at these prices. My strategy has been to sell the puts and try to pick up shares a bit cheaper. For example earlier today I sold this Friday op-ex $111 puts for $2.07...so if the sp keeps going down and I get put the stock I'll essentially be paying under $109 for them. Then I'll turn around and sell next week's $115 -118 calls and try to pick up a couple of more $$$ without actually getting the shares called away...if they DO get called away I go back to selling out of the money puts.

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My thoughts exactly, User.:iagree:....... but just in case that strategy should go awry, I picked up 200 shrs of AAPL this morning as it dipped into the gap around 115.50. That move was suggested in the P&F so I just thought it was a good time to make the play.
So far I'm up 30 cents so that's a good sign.

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Originally Posted by dm_4

Maybe they want newly minted bagholders so they can short the piss out of it gain. I mean last time we hit 4.18 they shorted us all the way to 3.00 bucks.

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But the bounce off the $4.18 top was much quicker. This time it seems to be building an unusual momentum and doesn't seem to have much downward pressure acting on it. I think I'm going to hold off on selling any more shares until I see a definite weakness that will allow for a buy back at a lower sp.

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Originally Posted by user34615145

My strategy with calls is simple. Look at what other holdings you own and ask yourself "how long do I want to hold this stock and what price would I be happy to sell this at?"
Then go look at the options chain for a expiration date and price that is meets those needs. If neither do, then perhaps it's not worth it. Or...if you hold the stock and want to "create your own dividend" but not necessarily sell the stock yet, pick a strike price that is well above the current market price but not too far out - maybe a month....and write the call. worst case is it DOES get called away. Best case is, it doesn't and you just re-write those calls next month...and the month after and so on.

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Thanks User

ALIAS ALERT... IT'S ALL ME!!!!

Muwahahahahaahhahaahha

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Originally Posted by user34615145

I know several of you are suggesting that we go back to strictly posting trading info. I strongly suggest against that. Sure, these are exciting days for long suffering SIRI investors.....but anyone who's spent any time at all following this stock knows that soon enough we will once again return to agonizing days of pure boredom as the SIRI moves up a penny or down a penny....or up AND down a penny. So it's a bit like wishing for summer when it's 30 below out and then when July rolls around and it's 105 in the shade, remembering fondly those cool, cold, frosty days of winter!

So I vote we continue on the trajectory we are heading and be damned with the consequences!

Here is my contribution to non-siri related nonsense - I have it on good authority that this is somewhere in SB's neighborhood!

http://sports.yahoo.com/photos/cleve...869327410.html

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Originally Posted by user34615145

I don't mind....sure I have about 150 pages of "this message is hidden due to ignore status" but it's just no value garbage I wouldn't have read anyhow. Now, fwiw, I have asked Charles several times if someone could write some kind of mini program that would eliminate those messages too, leaving behind only the comments that I can see. So far, nothing. Not even a response, much less any changes, and I really doubt Charles even checks this room except about once a month cause he's a busy guy with a whole site to update, administer and police, so I just soldier on. Like I said, it's not so bad once you get used to it.

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Are you kidding me?

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Originally Posted by siriusly_invested

My thoughts exactly, User.:iagree:....... but just in case that strategy should go awry, I picked up 200 shrs of AAPL this morning as it dipped into the gap around 115.50. That move was suggested in the P&F so I just thought it was a good time to make the play.
So far I'm up 30 cents so that's a good sign.

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Yep, I'm a buyer of AAPL with both hands at under $110/share. The flaw in my short put strategy is if/when the stock doesn't get put to me and AAPL flys up to $125 from here. If that happens you'll be sitting on a $2000 gain on 200 shares while I'll be holding only $414 cash on the same number of shares. Still a gain is a gain, and I like to get the best price I can so I'll patiently wait (ok, maybe a little impatiently) for $111 and hope to get put the stock.:p

Edit: update on my NFLX earnings call trade: If you recall, when the stock was trading at $114 the day before earnings I sold that week's $100 put for $2.35. They missed expectations and the stock got crushed - trading as low as the mid $90's the next day. The following day (Friday - op-ex) the stock traded up a bit but I still got put the stock...so now I own it @ $97.65 cb - net the premium. The following Monday I sold the $100 Nov20 covered call for $5 AND at the same time I sold the Oct 30 (this Friday) $93.50 put for $2.09 - figuring the stock can't be both up AND down but it could because of the different op-ex dates - still it's a slim chance and if it did go down to $93.50 and I got put THOSE shares and then back up to $100 by Nov20 I'd be pretty happy about it....so that's where I stand. NFLX is up almost $3 today at $102.91 as we speak. So unless the bottom falls out, chances are good my $93.50 puts will expire worthless Friday and I'll rewrite them for Nov20 in the $96 range.

I know it sucks. Especially when the TOP 3rd poster is Queeeny. He spews his garbage and it comes up an IGNORED post. You have nagivate a pile of cow manure just to get to the good posts.

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Originally Posted by bdp.

Are you kidding me?

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Originally Posted by bdp.

Are you kidding me?

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Nope, not kidding. No a single word from Charles on my request for some way to get rid of those notifications. Can you believe it? If he doesn't get on it soon, I might demand my money back!....oh, wait.....uh, well still..... I am VERY disappointed!

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Originally Posted by user34615145

Yep, I'm a buyer of AAPL with both hands at under $110/share. The flaw in my short put strategy is if/when the stock doesn't get put to me and AAPL flys up to $125 from here. If that happens you'll be sitting on a $2000 gain on 200 shares while I'll be holding only $414 cash on the same number of shares. Still a gain is a gain, and I like to get the best price I can so I'll patiently wait (ok, maybe a little impatiently) for $111 and hope to get put the stock.:p

Edit: update on my NFLX earnings call trade: If you recall, when the stock was trading at $114 the day before earnings I sold that week's $100 put for $2.35. They missed expectations and the stock got crushed - trading as low as the mid $90's the next day. The following day (Friday - op-ex) the stock traded up a bit but I still got put the stock...so now I own it @ $97.65 cb - net the premium. The following Monday I sold the $100 Nov20 covered call for $5 AND at the same time I sold the Oct 30 (this Friday) $93.50 put for $2.09 - figuring the stock can't be both up AND down but it could because of the different op-ex dates - still it's a slim chance and if it did go down to $93.50 and I got put THOSE shares and then back up to $100 by Nov20 I'd be pretty happy about it....so that's where I stand. NFLX is up almost $3 today at $102.91 as we speak. So unless the bottom falls out, chances are good my $93.50 puts will expire worthless Friday and I'll rewrite them for Nov20 in the $96 range.

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know who else talks about buying apple...you guessed it..doughboy.

4.08 close.....nice job guys!!

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Originally Posted by dm_4

4.08 close.....nice job guys!!

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SP was real frisky today......

EDIT 3rd Highest closing price since January 2007:)

EDIT: Highest closing price during the brief run to 4.18 in 2013 was 4.125

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Originally Posted by denco1

SP was real frisky today......

Highest closing price since January 2007:)

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Higher highs, higher lows :)

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Originally Posted by radejs

Hey Denco, thanks for asking. How the heck are you?

Trading quite a bit less than I used too but I still look to you, Bassman and others on this board for insight on trading opportunities with SIRI. It has been a good ride, one of my better money makers. Now I just need the world to realize AAPL is undervalued and I will be REALLY happy!

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welcome back radejs!