$Reddit (RDDT.US)$ looks like selling my naked puts when it ...
$Reddit (RDDT.US)$ looks like selling my naked puts when it was weak at 48 was smart I'm going to sell more puts today at 50 and 52. not a damn thing wrong with their revenue earnings or forward guidance this company should be accumulated. if you want to buy the common stock you can buy it here and sell a call against it several dollars higher 58 to 60 going out 2 weeks collect the premium if you get any reversal in the stock your cost basis has been lowered by selling the covered call.
you do have to be cautious because right now everybody is scampering to get reinvested after what was 3 weeks of a sell-off in tech stocks from July 11th. then we had the blood bath on Monday it seems like it was eons ago but it was just this past Monday. and understand there's an immense amount of profit that on any economic indicator that's negative or any global event that can come right back out so if you're going to buy Reddit or any other stock you need to do it in stages even though right now we're in an upward trend you have to be risk averse and you still need to keep powder dry because at any moment there could be another rug pull event where we go down 30% 40% of the recent rally and you need to be able to average down.
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35+ yrs in the trenches, raised tens of millions for start ups, syndicate ipo's, yrs on trading desk mkt maker.
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