Micron Technology (MU) Getting Up Early ~;-)

BelleWeather : I think you did great! (The first and last time I played an ER was MU - got burned badly, largest loss by far. But the shares have recovered nicely, and though I held very few, the calls skyrocketed so much, all but one hit limit sells yesterday!)

Dan’l OP BelleWeather : Awesome, and further anecdotal evidence to support my firm belief that good companies make the best hedges.

$Micron Technology (MU.US)$ itself may be bumping the price, as they continue repurchasing their shares (which makes ‘em more overweight ~;-)

Gonna look through the options, but I’m guessing it’s worth ~120 this month, and that it’s good for more like 180 this year.

BelleWeather : I think the options chain is pretty overpriced right now, maybe a dip at open will give opportunity for very long dated (LEAPS, to my mind,) but I don’t think so. With prices this high and soaring IV, it’s tough not to get crushed - just a poor entry point, I think. The few contracts I had I waited to scale into until after the price drop AND a drop in volatility (and lucked out to find a few undervalued as well.) A warning of sorts?

But to your other point, I agree wholeheartedly! I’d never have been able to do what I began last year without weighted DCA into solid companies the couple of years prior. I truly believe one should build a base in shares before considering any type of trading. As a bonus, it’s a good way to learn the lingo and fundamentals plus gain exposure to charts such that they make a kind of intuitive sense before attempting to dive into TA.

Congrats friend! (I hope this holds on some of these tickers at points of exit and entry today!)

Dan’l OP BelleWeather : Oh, I wouldn’t likely dare to buy/sell  $Micron Technology (MU.US)$ options myself (I was hit/miss on ACHR, despite thinking I knew it better), buUut… looking through them helps me better evaluate what the market thinks, rather than just what the analysts do.

BelleWeather : Ah, makes sense! I’d great luck with Archer options. Only hold LEAPS and write against them now as a form of capital efficiency now. But do think another opportunity will present itself there if you wish to try again. I am JUST now beginning to understand a bit how to use the chain to understand market dynamics, but have a long ways to go there. (Literally dream about the interplay of greeks…has me entranced still. Luckily investing as all else is a lifelong learning curve.)

Dan’l OP BelleWeather : $Archer Aviation (ACHR.US)$ is much less volatile and more predictable now (and I actually only had the one loss), and with options always suspiciously “spot on” week after week? I reckon just going with the flow would pay off.

I’m forever (re)learning with this stuff, and trying to figure it all out, speaking of which… see if pasting this link works (it’s Stacey Gilbert’s talk on here about options Greeks ~;-)
https://www.moomoo.com/community/feed/113251224977413?share_code=01V54F
Stacey Gilbert / Option Greeks

BelleWeather Dan’l OP : Cool, thanks! I can’t wait to watch it!  

Haha, I have my thoughts and expectations, but they often must be revised in the fly!

I mentioned to you earlier that I think the warrants matter with ACHR price - and of course catalysts.

But yeah, made money on the stupidest thing the last few weeks and it all started with options volume and OI and etc (not a long term hold and basically a total gamble otherwise.)

Dan’l OP BelleWeather : You’d be proud of the self-control and discipline I exhibited today, except that it was my uncertainty about taxes this next year (and my lack of better planning) that caused me to not sell.

Well… mostly: couldn’t resist cutting loose of some $CorMedix (CRMD.US)$, being sure today’s potential gains would eventually retrace if I didn’t.

I lost the thread where you spoke of writing LEAPS on $Archer Aviation (ACHR.US)$ and I’m definitely interested, once I’ve got myself ready.

I’m opening at least a ROTH IRA next, which will shelter some future gains, while allowing me a $7,500 deduction each year (and hopefully sparing my beneficiaries from any tax burdens).

But, for now? Dinner ~;-)