8 hours ago, Gramarye said:

I question the put strategy just because of where the market is right now, not because I think it would be life-ending to suddenly be forced to buy into Lordstown Motors if the put is exercised and the shares are put to you.  Even if the company has some good test results and good progress on the Endurance (which, admittedly, for what happened in Baja, was ironically ill-named), it could be caught in a general market downturn and you could end up being forced to overpay for those shares.

I appreciate your comment.  I'm already long the shares; but I am fully prepared to buy more at the net cost of $8 ($10 strike price minus the $2 I sold the puts for).  I don't short puts unless I'm willing to buy the shares - it mostly works for me.

On 2/23/2021 at 3:57 PM, freefourur said:

I sold at 15.30....lol

 

Good call.  WKHS down to single digits now.

5 minutes ago, DarkandStormy said:

 

Good call.  WKHS down to single digits now.

 

RIDE is similarly down from $30+ to under $10.  I sold my WKHS, but I held onto RIDE.

 

My largest tranche of RIDE, I bought at $9.39.  It's been a bit of a ... ride.

1 hour ago, Gramarye said:

 

RIDE is similarly down from $30+ to under $10.  I sold my WKHS, but I held onto RIDE.

 

My largest tranche of RIDE, I bought at $9.39.  It's been a bit of a ... ride.

 

Seems like the testing of their prototype has gone...poorly.

 

Aren't they supposed to start production in September?

I have shorted RIDE $7.50 May and June puts, in addition to holding a few $13-ish shares outright. I think they'll "ride" out the shareholder class actions; the legal claims seem fanciful and the company can't afford to settle. Assumng no more than the usual pre-production hiccups, they have enough working capital to make it to production, provided that comes sometime in 2021.  In addition to the 100,000 "letter of intent" units, I believe the company does have about 4,000 genuine "deposit down" presales.  Lordstown Motors, as far as we know - and we know quite a lot, is nothing like the Nikolai story.

On 4/20/2021 at 8:45 AM, YABO713 said:

Looks like CLOV might be Wall Street Bets next squeeze. Really interesting

 

 

Maybe WSB isn't as powerful as some think.  Above chart is CLOV YTD, blue area is the time of your post, roughly.

20 hours ago, DarkandStormy said:

 

 

Maybe WSB isn't as powerful as some think.  Above chart is CLOV YTD, blue area is the time of your post, roughly.

 

Yup - tried to squeeze and got smashed. 

https://ir.workhorse.com/news-events/press-releases/detail/174/workhorse-group-reports-first-quarter-2021-results

 

Quote

Though we are certainly making steady progress in improving our vehicle manufacturing throughput, we are adjusting our 2021 production estimate to 1,000 units. 

Quote

Sales for the first quarter of 2021 were recorded at approximately $521,000 compared to approximately $84,000 in the first quarter of 2020. The increase in sales was primarily related to an increase in trucks delivered. There were a total of six trucks delivered in the first quarter.

 

Workhorse released their Q1 earnings and this week and...yikes.  Business appears to be nearly dead without the USPS contract.

^Never heard of them, but they're on the right track--demand for electric delivery vehicles will grow.  Are they Cincinnati-based? Their website says, vehicles are made in the US---where? Are they made in Cinci? 

And yet, Workhorse sponsors a gate at the new West End Soccer stadium.

Edited May 14, 20214 yr by NsideProp

what do you mean the future didn't turn out like someone with no product on hand said it would 

On 5/14/2021 at 11:35 AM, Pugu said:

^Never heard of them, but they're on the right track--demand for electric delivery vehicles will grow.  Are they Cincinnati-based? Their website says, vehicles are made in the US---where? Are they made in Cinci? 

 

Cincinnati area, yes.  They were bidding to win the USPS fleet contract but lost out.  Shares have plummeted since.

 

Another Ohio-based EV manufacturer has had a bit of a bumpy ride in Lordstown.  

 

Stock is up some 40% since the end of last week.  Why?  https://businessjournaldaily.com/lordstown-motors-week-to-open-plant-to-analysts-investors/

 

Quote

The electric-vehicle manufacturer this morning announced “Lordstown Motors Week” in June, a five-day event inviting analysts, customers and investors to the company’s headquarters as it prepares for the launch of its first product – the all-electric Endurance pickup.

 

Plant tours, interaction with Lordstown Motors’ executive team, presentations, and test drives of the Endurance are all part of the week’s schedule, the company said.

 

In the past few months, Lordstown has had some tough PR regarding its prototype vehicle - allegedly catching on fire on one of its first test drives and apparently performing poorly in the San Felipe 250.

^Desert racing really isn't the venue for today's electrics. People shouldn't have been hard on them for that.

RIDE's wild ride continues.  Down to $6.69 on 5/11, now barely a week later back to $10.71, still down enormously from $31.56 on 2/11.  After all of that roller coaster, total 52-week performance as of the moment ago that I updated this on Fidelity was: 

 

 

Well, I mean, better than a savings account these days ...

Like everybody else I was intrigued by Bitcoin and it's cousin currencies; came close to pulling the trigger on a buy in February but didn't. I'm reconsidering at today's lower levels.

 

Interesting that Senator Brown is holding hearings; he's worried about investor losses in this unregulated market, he says.  What he should be worried about (and probably is) is the fact a medium of exchange not controlled by a government sinks Modern Monetary Theory, on which current federal plans are more-or-less based.  Just my opinion, of course.

Aren't commodities or at least precious metals like that already though?

57 minutes ago, GCrites80s said:

Aren't commodities or at least precious metals like that already though?

 

Sort of; but there is a long history of government intervention in traditional commodity markets. Another negative is the physical difficulty of commodity ownership beyond relatively short-term contracts.  Bitcoin and its like have no such history and have no physical aspect to manage.

https://www.reuters.com/technology/electric-truck-maker-lordstown-motors-says-ceo-cfo-resign-2021-06-14/?utm_source=reddit.com

 

Quote

Electric-truck maker Lordstown's CEO, CFO resign, shares slump

 

57 minutes ago, DarkandStormy said:

https://www.reuters.com/technology/electric-truck-maker-lordstown-motors-says-ceo-cfo-resign-2021-06-14/?utm_source=reddit.com

 

 

I remember hearing whispers from a few years ago about how he was likely not going to be capitalized enough to make the deal work. It appears that is likely what is happening. 

8 minutes ago, Brutus_buckeye said:

I remember hearing whispers from a few years ago about how he was likely not going to be capitalized enough to make the deal work. It appears that is likely what is happening. 

These resignations may be the price of getting some new money.

18 minutes ago, Dougal said:

These resignations may be the price of getting some new money.

Most likely. Given the going concern letter that went out last week, the leadership team's time appeared numbered. 

Damn, Goldman crushed it.

Spooky feeling. Yesterday I sold pretty much everything. I don't feel bad enough to short the market; but cash feels comfortable right now. Maybe it's my age.  Anybody else feel like this?

Did anybody else notice the weird actions in Travel Centers (Symbol TA) after hours on Friday?  It allegedly dropped about 6 points and resumed trading on Monday at its regular closing price as if nothing had happened - no comment or explanation anywhere that I could find. 

1 hour ago, Dougal said:

Did anybody else notice the weird actions in Travel Centers (Symbol TA) after hours on Friday?  It allegedly dropped about 6 points and resumed trading on Monday at its regular closing price as if nothing had happened - no comment or explanation anywhere that I could find. 

 

There are often weird price actions after hours - Fridays are when options contracts close and I believe option holders have 90 minutes (or something like that, don't quote me) to exercise those options after market close.  So depending on the strike price of those options, the stock price might look a little weird after hours.  This might not be the only explanation, but it's a possibility.

Hi folks - looking for some advice. 

 

I have 2 401ks from former employers. I'd like to roll one over into my new 401k, and have already started that process. However, the other account only has a $3,500 balance... and I'm thinking of withdrawing and putting it on my student loans while there is a freeze on interest. 

 

Could anyone explain the unexpected consequences to me? I understand that my withdrawal amount will be subject to a fee and taxed upon withdrawal - but is there anything further I should be aware of or consider? 

37 minutes ago, YABO713 said:

Hi folks - looking for some advice. 

 

I have 2 401ks from former employers. I'd like to roll one over into my new 401k, and have already started that process. However, the other account only has a $3,500 balance... and I'm thinking of withdrawing and putting it on my student loans while there is a freeze on interest. 

 

Could anyone explain the unexpected consequences to me? I understand that my withdrawal amount will be subject to a fee and taxed upon withdrawal - but is there anything further I should be aware of or consider? 

Nope, just the 10% fee.

Thanks!

 

Will I have to pay the tax at year's end or is it deducted in the withdrawal? @Ineffable_Matt

 

Edited September 11, 20213 yr by YABO713

58 minutes ago, YABO713 said:

Thanks!

 

Will I have to pay the tax at year's end or is it deducted in the withdrawal? @Ineffable_Matt

 

This was a while ago, but I’m pretty sure it’s deducted with the withdrawal.

5 hours ago, YABO713 said:

Hi folks - looking for some advice. 

 

I have 2 401ks from former employers. I'd like to roll one over into my new 401k, and have already started that process. However, the other account only has a $3,500 balance... and I'm thinking of withdrawing and putting it on my student loans while there is a freeze on interest. 

 

Could anyone explain the unexpected consequences to me? I understand that my withdrawal amount will be subject to a fee and taxed upon withdrawal - but is there anything further I should be aware of or consider? 

 

Perhaps the obvious---what the $3500 if left in the market could be in 30 yrs vs the savings in interest on $3500 less 30% on student loan debt.

Edited September 11, 20213 yr by Pugu

1 hour ago, YABO713 said:

Thanks!

 

Will I have to pay the tax at year's end or is it deducted in the withdrawal? @Ineffable_Matt

 

 

The account administrator is required to take out a minimum of 30% for the IRS at the point of distribution (10% fee + 20% tax). You may elect to have a greater amount taken (if you know you're in a higher bracket). Generally state taxes are not withheld.

Edited September 11, 20213 yr by Pugu

Huh? They aren't memeable like a company that really cleaned up in the early 2000s.

27 minutes ago, GCrites80s said:

Huh? They aren't memeable like a company that really cleaned up in the early 2000s.

 

37% of their float is shorted.  And they just crushed Q3 earnings.  Maybe shorts trying to exit their positions?  Or another GME short squeeze?

 

Probably nothing.

I see the dot.com bust in there too.

 

but P/Es don't matter bro

7 minutes ago, GCrites80s said:

I see the dot.com bust in there too.

 

but P/Es don't matter bro

 

We are in the meme stock market now.

 

Another Ohio-based EV company under investigation.

^It's almost if Wall Street rewards lying you're going to wind up with everyone in the sub-sector lying.

From what I've heard, Workhorse was absolutely banking on getting the USPS contract. Not sure about anything C-Level but I know that they were giving people partial pay in shares of the company so there was definitely a possible motive for their actions.

44 minutes ago, RealAdamP said:

From what I've heard, Workhorse was absolutely banking on getting the USPS contract. Not sure about anything C-Level but I know that they were giving people partial pay in shares of the company so there was definitely a possible motive for their actions.

As a former shareholder, I was banking on the USPS contract too.  That didn't work out well for me. 

On 5/19/2021 at 11:53 AM, Gramarye said:

RIDE's wild ride continues.  Down to $6.69 on 5/11, now barely a week later back to $10.71, still down enormously from $31.56 on 2/11.  After all of that roller coaster, total 52-week performance as of the moment ago that I updated this on Fidelity was: 

 

 

Well, I mean, better than a savings account these days ...

 

They're nearing penny stock status now, down below $4/share and market cap of ~$750m.

https://www.treasurydirect.gov/indiv/products/prod_ibonds_glance.htm

 

 

Just a heads up, federal i bonds rate now have an interest rate of 7.12%.  You can't buy through a private brokerage - you have to go through TreasuryDirect.  Each person can buy up to $10,000/year (plus $5k more with your tax refund).  You do have to own it for at least one year and it will earn interest for 30 years, but after that initial year you can withdraw at any time.  If you withdraw before five years is up, you would forfeit the interest from the previous 3 months.

 

There's also a semiannual adjustment for inflation.  7.12% is the second-highest initial rate in history.

 

Just an FYI in case you wanted a risk-free place to park some long term cash.  If you know you won't be touching that money for awhile, it's a pretty good rate.  Much better than a savings account or C.D.  There are some tax benefits as well if you end up using the bonds to pay for college - I'm not sure of all the ins and outs of that, so research that more if you think you'd do that.  Some other things as well around gifting and such.

On 12/30/2020 at 10:33 AM, DarkandStormy said:

As we wrap up the year tomorrow, here is my personal ROI (based on Personal Capital - I believe they do it as <ending balance - contributions - beginning balance>/beginning balance but I don't know that for sure) along with a few prior years:

 

-2020: +32% (give or take these final couple days of trading)

-2019: +31%

-2018: -2.5%

-2017: +23%

 

All in all, not too bad.  Again, I don't know exactly how Personal Capital calculates returns, so probably a grain of salt there.

 

Update:

-2021: +20% (vs S&P 500 +27%)

-2020: +32.5% (vs S&P 500 +18.4%)

-2019: +31.7% (vs S&P 500 +31.49%)

-2018: -2.5% (vs S&P 500 -4.38%)

-2017: +23.8% (vs S&P 500 + 21.83%)

 

S&P 500 returns may vary depending on how dividends are treated, among other factors.

 

Looks like my streak of beating SPY will come to an end.  Not as great of a year (comparatively) for tech stocks, plus I reduced some exposure.

 

It's still wild to look back and see that my portfolio is up ~520% from five years ago.  The corona crash looks like a blip now, barely.

56 minutes ago, DarkandStormy said:

 

Update:

-2021: +20% (vs S&P 500 +27%)

-2020: +32.5% (vs S&P 500 +18.4%)

-2019: +31.7% (vs S&P 500 +31.49%)

-2018: -2.5% (vs S&P 500 -4.38%)

-2017: +23.8% (vs S&P 500 + 21.83%)

 

S&P 500 returns may vary depending on how dividends are treated, among other factors.

 

Looks like my streak of beating SPY will come to an end.  Not as great of a year (comparatively) for tech stocks, plus I reduced some exposure.

 

It's still wild to look back and see that my portfolio is up ~520% from five years ago.  The corona crash looks like a blip now, barely.

 

Fidelity only updates for me monthly, so I won't know my final tally until year-end.  But I think my win streak is coming to an end, too.  The last three quarters of 2020 were a tech surge, and it was simply not sustainable in 2021.  I should've diversified out, but tech is simply what I know.

 

Great job on the 5-year returns; I'm up 217% in that timeframe and thought I was doing well!  (Total portfolio is up more than that, but that's because of new money added over the last 5 years and the gains on those additions.)

2 minutes ago, Gramarye said:

Great job on the 5-year returns; I'm up 217% in that timeframe and thought I was doing well!  (Total portfolio is up more than that, but that's because of new money added over the last 5 years and the gains on those additions.)

 

I did a "total portfolio" change, not a true ROI.  So that includes contributions in there.

Because of a busted real estate deal, I had to sell a lot of stuff last August.  Got back in in September using my "short out-of-the-money puts" strategy.  (I look on the proceeds of the put sales as a discount on the purchase price of stocks I like.) It has been very successful in that I collected a lot on worthless expired puts, but I'm not buying much stock. 

 

I guess I shouldn't complain.

2 hours ago, Dougal said:

Because of a busted real estate deal, I had to sell a lot of stuff last August.  Got back in in September using my "short out-of-the-money puts" strategy.  (I look on the proceeds of the put sales as a discount on the purchase price of stocks I like.) It has been very successful in that I collected a lot on worthless expired puts, but I'm not buying much stock. 

 

I guess I shouldn't complain.

 

You're basically describing "the wheel" strategy, yes?  I.e., if you were assigned the stocks from a put you sold, you'd then quickly sell covered calls?

7 hours ago, DarkandStormy said:

 

You're basically describing "the wheel" strategy, yes?  I.e., if you were assigned the stocks from a put you sold, you'd then quickly sell covered calls?

Sort of. If I want to buy a stock I short puts until I get the shares; if I want to sell when it hits my target, I short calls. It's not a quick flip, though; the holding period, if I lke the stock can be years. It works for me more often than not.

 

I'm just a little frustrated because I'm "underinvested" at the moment

 

 

Workhorse lost the USPS contract to...that?

 

 

Both Workhorse and Lordstown are now penny stocks.