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GGPI - taking Polestar public

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  • Nov 23rd, 2021 10:01 pm
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Sr. Member
Dec 8, 2020
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Toronto
tebore wrote: And if it memes out?

pre-hype in September the stock labours around $10

@deal_with_singh has $1.10 premium from the 2 option trades expiring 19 November.

the naked put is at $12.50 strike, if the stock finishes below that, singh is good for breakeven to $11.40.

if the stock drops lower he has 2 choices ...

time decay, close the put options out at $12.50, walks away with a few pennies profit... my choice

if he ignores/not watching his position & gets assigned on the 19 November (lets say stock at $10) he pays the piper the difference of the $11.40 (his downside pain level) at the point he loses ~$1.40, which isn't so bad compared to those that bought the stock today at $15, they lose $5 or 50% of their investment.

or the stock could drop on 19 November to its 12 November open price $11.19

either way singh will be OK
Deal Guru
Feb 9, 2006
12546 posts
7172 upvotes
Brampton
Janus2faced wrote: pre-hype in September the stock labours around $10

@deal_with_singh has $1.10 from the 2 option trades expiring 19 Novemeber.

the naked put is at $12.50 strike, if the stock finishes below that, singh is good for a breakeven to $11.40.

if the stock drops lower he has 2 choices ...

time decay, close the put options out at $12.50, walks away with a few pennies profit... my choice


or the stock could drop on 19 November to its 12 November open price $11.19

either way singh will be OK

It's not the put that's going to get him. That's fairly limited.
It's that this could meme out and shoot to 30 by week's end and he's out money if he's not fast enough to close.

Him and I were on the CCIV train

GGPI is all over twitter and Reddit now and it's looking familiar.
Sr. Member
Dec 8, 2020
977 posts
1074 upvotes
Toronto
tebore wrote: It's not the put that's going to get him. That's fairly limited.
It's that this could meme out and shoot to 30 by week's end and he's out money if he's not fast enough to close.

Him and I were on the CCIV train

GGPI is all over twitter and Reddit now and it's looking familiar.
^^^ ignore the noise & chatter, do you believe today that this is going to $30 within the next 4 days?

5 days to expiry

on the call he has an upside $25 + $1.10 (from his 2 option trades) = $26.10 at which point he starts losing money.

given today's behavior, unless something stupid happens at the company driving the stock quickly towards $26.10, singh will close the position for minimal loss & likely he being a smart option trader already knows his buy to close price on the calls & puts.

given my dialogue @tebore, how would you take care of business on singh trades?
Deal Guru
Feb 9, 2006
12546 posts
7172 upvotes
Brampton
Janus2faced wrote: ^^^ ignore the noise & chatter, do you believe today that this is going to $30 within the next 4 days?

5 days to expiry

on the call he has an upside $25 + $1.10 (from his 2 option trades) = $26.10 at which point he starts losing money.

given today's behavior, unless something stupid happens at the company driving the stock quickly towards $26.10, singh will close the position for minimal loss & likely he being a smart option trader already knows his buy to close price on the calls & puts.

given my dialogue @tebore, how would you take care of business on singh trades?
That's the thing here. This isn't your typical blue chip, in the last 24 months meme stocks and EV frenzy can do crazy swings in very short times. The noise and chatter can drive it.

I mean Elon can tweet something and tesla is up or down 10%.

And yes he's a very well versed trader and I enjoy following his trades. I also enjoy reading what his thoughts on the companies and the short term directions that lead to the trades.
Sr. Member
Dec 8, 2020
977 posts
1074 upvotes
Toronto
tebore wrote: That's the thing here. This isn't your typical blue chip, in the last 24 months meme stocks and EV frenzy can do crazy swings in very short times. The noise and chatter can drive it.

And yes he's a very well versed trader and I enjoy following his trades. I also enjoy reading what his thoughts on the companies and the short term directions that lead to the trades.
the IV has dropped, so just on the 2 trades he made this morning he can right now buy to close the trades & walk away with a profit.

buy to close the put for $0.10, buy to close the call for $0.30 = $0.40

he sold the combined for $1.10 - $0.40 on the buy back = $0.70 profit

^^^ that simple, lets see if thats what he did
deal_with_singh wrote: Sold naked puts at $12.50 strike for $0.40 a piece expiring this friday.

Managed to get $0.70 a piece for $25 strike naked calls.

As long as the stock stays between $12.50-$25.00 I walk out collecting a $1.10 net premium for this week.
Last edited by Janus2faced on Nov 15th, 2021 2:07 pm, edited 2 times in total.
Deal Guru
Feb 9, 2006
12546 posts
7172 upvotes
Brampton
Janus2faced wrote: the IV has dropped, so just on the 2 trades he made this morning he can right now buy to close the trades & walk away with a profit.
Solid work as usual for Singh.
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Feb 11, 2009
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Janus2faced wrote: the IV has dropped, so just on the 2 trades he made this morning he can right now buy to close the trades & walk away with a profit.

buy to close the put for $0.10, buy to close the call for $0.30 = $0.40

he sold the combined for $1.10 - $0.40 on the buy back = $0.70 profit

^^^ that simple, lets see if thats what he did
Have not yet closed out the position. I'm holding on to it for now as I don't require the buying power/margin.

I did however just write additional $38 strike puts for $0.83, $35 strike for $0.40, $32 for $0.22 and $30 strike for $0.11 on LUCID Naked. I did not try to get the cross on the calls side as it seemed fairly risky with the upside potential. (all of this was in the last 5 mins of the trading day)
Last edited by deal_with_singh on Nov 15th, 2021 4:02 pm, edited 1 time in total.
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Sr. Member
Nov 28, 2016
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deal_with_singh wrote: Have not yet closed out the position. I'm holding on to it for now as I don't require the buying power/margin.

I did however just write additional $38 strike puts for $0.83, $35 strike for $0.40, $32 for $0.22 and $30 strike for $0.11 on LUCID Naked. I did not try to get the cross on the calls side as it seemed fairly risky with the upside potential.
LUCID Naked sounds like a good car model name :twisted:
Sr. Member
Dec 8, 2020
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15 November post below.
deal_with_singh wrote: GGPI ....Sold naked puts at $12.50 strike for $0.40 a piece expiring this friday.

Managed to get $0.70 a piece for $25 strike naked calls.

As long as the stock stays between $12.50-$25.00 I walk out collecting a $1.10 net premium for this week.
GGPI closed today at $13.76

^^^ well done Mr. Singh.
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Feb 11, 2009
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Janus2faced wrote: 15 November post below.


GGPI closed today at $13.76

^^^ well done Mr. Singh.
Haha thanks! Was a pretty great week for writing options on EV plays!

Everything below expired worthless...

.
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