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93 sats \ 3 replies \ @carter 30 Jul \ parent \ on: SOFI pumps on strong Q2 report then dumps shares on the market to raise capital Stacker_Stocks
I was gonna try and run the wheel strategy with covered calls and cash secured puts. I don't want to use margin but I like the idea of buying extra stock with leverage if I trust holding the underlying long term
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0 sats \ 2 replies \ @BlokchainB OP 30 Jul
Whats holding you back?
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48 sats \ 1 reply \ @carter 30 Jul
I've been looking at selling a way out of the money (or what I thought was) covered call that would expire in a couple days to try and get the feel but I really don't want to trigger a taxable event if I get assigned (I think I should be able to just buy one to cover it but im still not 100% on how robinhood works) and I don't pull the trigger then there is some 10% jump (this was on my other SPAC position RKLB). I guess I just need to set some sane stop limits but I feel like I can't follow it close enough to get in and out properly
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0 sats \ 0 replies \ @BlokchainB OP 30 Jul
Yeah plus if you don’t know what you are doing you can get rekt
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