Board 8 > Stock Topic $eventeen

(+) Yeah! (+)

Traded in my 12 dollar 23 calls for 20 dollars 22 calls and saved 100 on each contract. Difference went to gme.

---

Here's the problem. AMC literally can't explode today from Robinhood action. They tried to "make good" but they're still making it tricky to buy stock and it's still clearly market manipulation and robinhood is still shit

Here are the current restrictions

1. Can only buy up to 115 shares and 100 options
2. Options for today can't be purchased
3. You can't exercise contracts you bought today

Also a lot of people like myself are transitioning to a different broker and have funds in transit.

Also for some reasons calls are outrageously expensive across the board so it's hard to get skin in the game right now.

So it's hard for robinhooders to move it much even if they want to. It can and will move unless the shorts get out today though (and them covering will make it move a ton either way) and I think they have too much hubris to actually cover. The good news is we kept the stock price above 9 so the earlier week calls are expensive for them

---

Amc is not a pump and dump. Anything under 20 I would consider fair given market factors and lack of risk.

---

Calls are kind of scary for something like AMC. I think restricting them kind of makes sense because if AMC drops to pre pump levels people will get completely wiped

---

DoomTheGyarados posted...

Amc is not a pump and dump. Anything under 20 I would consider fair given market factors and lack of risk.

I agree, but it is a dump and buy then.

I'm going to be interested in buying more AMC after it craters but it WILL crater at some point

---

Agreed. I'd rather crystalize some gains today and then revisit during a crater and then let the natural progressions of "reopening theaters etc" to bolster AMC stock.

---

Amc can't go back to pre pump levels tbh. It was going to trend up after ceo said they were safe. Maybe somewhere between here and there but I am not too scared since I made a killing on my previous calls and diversified a bit

---

DoomTheGyarados posted...

Amc can't go back to pre pump levels tbh. It was going to trend up after ceo said they were safe. Maybe somewhere between here and there but I am not too scared since I made a killing on my previous calls and diversified a bit

I think you are underestimating the overall effect of a massive GME crater. I think it pulls down every meme stock with it.

The one possible caveat is if GME somehow never falls because redditors treat it as bitcoin and HODL for no reason whatsoever....

I have no earthly idea what that universe looks like, but at some point GME would have to look to cash in on the money and announce a stock offering.

That would be a weird world

---

Amc is not a meme stock and I have been in on amc for half a year for various reasons.

Like gme is also not a meme stock. It's short. Hedge funds fucked up. The due diligence on it is 100% legit.

---

I still think many of the same people in GME are in on AMC etc and you are going to see a sell off

---

yeah there's a misunderstanding on calling these all meme stocks.

blockbuster, meme.
doge, meme.

gamestop, wasn't a meme. it was, is, guaranteed money. people caught a bad bet and called the bluff. they're dead to rights on this with no way out.

amc, not a meme. it's fairly undervalued and was had 83% of its stock in shorts. just because gamestop was 140% doesn't mean 83% is normal or even fine, that's a risky bet and all kinds of wrong.

i'm not aware of the situation with NAKD, BB, or NOK. but the last two do have major claims to their name in recent events too and are probably undervalued, with too many short sellers on 'em. for "meme stocks" they're surprisingly solid choices and the meme value helps them get noticed well.


---

masterplum posted...

Calls are kind of scary for something like AMC. I think restricting them kind of makes sense because if AMC drops to pre pump levels people will get completely wiped

They're dangerous if you're buying them. Not so much if you sell them. Which is what I'm doing with my 1400 shares

I am the enemy since I'm selling just they're covered sells. Just wish I had all my shares I would have made like $18k for basically nothing today. As it is I made like $5k (had to exercise my calls to do so which cost me time so the price of the $40 next week call went down)

---

Ah, I'm still restricted from selling options on those stocks

---

oh those stocks are in the same grouping as the meme stocks so you're not gonna get much in options for any of those either. personally i've got some in NOK, AMC, and NAKD and have no intention of getting out until next week. possibly hold onto a handful of NOK afterwards too.


---

Time to crack 15 AMC gang

---

Not selling AMC until at least 20.

I'm actually very tired. I started on this shit Wednesday morning and I've slept a grand total of like four hours since then. Was gonna load up on caffeine today to watch this but I think a nap would probably serve me better.

---

AMC just blew past 15 and flirted with 15.5. It's been a steady climb over the past couple hours.

---

ExThaNemesis posted...

Not selling AMC until at least 20.

I'm actually very tired. I started on this shit Wednesday morning and I've slept a grand total of like four hours since then. Was gonna load up on caffeine today to watch this but I think a nap would probably serve me better.

Yeah, try not to stress too much about watching it religiously. When I first startrd making bigger trade sizes with my portfolio, I had that lack of sleep problem too.

Now I just stick to the game plan of every stock I'm in, because I mostly only get in on trades that are at least medium conviction.

Aaaand Moonroof you could have sold at 16 now. I look forward to your inevitable FOMO buy!

---

sorry bout ur luck moonroof

---

I forgot that I had a Fidelity account from my ESPP. Convenient!

---

I really wish I wouldve bought more AMC when it was down to like $8 yesterday because I knew this would happen.

Im up like 5k on AMC alone this week but I couldve been up so much more.

Are you guys using Robinhood still or is there something out there thats better. I was going to use Cash App but thats so limited I dont know if I want to make the switch even with all the bullshit from yesterday

---

We seems to be moving now. I bought more SPCE yesterday when it dropped due to all the high short interest stocks dropping. Sold off half of what I bought yesterday because SPCE is getting to be a high enough portion of my portfolio that I feel tense, although it is my highest faith play.

---

Suprak the Stud posted...

I really wish I wouldve bought more AMC when it was down to like $8 yesterday because I knew this would happen.

Im up like 5k on AMC alone this week but I couldve been up so much more.

Are you guys using Robinhood still or is there something out there thats better. I was going to use Cash App but thats so limited I dont know if I want to make the switch even with all the bullshit from yesterday

I'm only on Robinhood because I literally have everything tied up there.

The way they are still limiting buys is fucking disgusting and as soon as I can I'm taking my ball from there and closing the account.

---

Suprak the Stud posted...

Are you guys using Robinhood still or is there something out there thats better. I was going to use Cash App but thats so limited I dont know if I want to make the switch even with all the bullshit from yesterday

Still using Robinhood for AMC fun because it's time sensitive but am currently setting up an E-Trade account and have transferred most of my money out of Robinhood.

---

Suprak the Stud posted...

I really wish I wouldve bought more AMC when it was down to like $8 yesterday because I knew this would happen.

Im up like 5k on AMC alone this week but I couldve been up so much more.

Are you guys using Robinhood still or is there something out there thats better. I was going to use Cash App but thats so limited I dont know if I want to make the switch even with all the bullshit from yesterday

If I had been on Fidelity I would be up unfathomable amounts because when these dips happened yesterday I would've fucking cannoned everything I could've at them. I'm talking $1,000+ when it hit $160. Look at it now.

Robinhood literally cost me thousands and I'm a small fry.

---

What app or method are people using now that allows buying?

Oh I guess that was asked and answered above.

---

Suprak the Stud posted...

Are you guys using Robinhood still or is there something out there thats better. I was going to use Cash App but thats so limited I dont know if I want to make the switch even with all the bullshit from yesterday

I recommend Ameritrade. They briefly limited orders like two days ago, but quickly reversed their position. Also, they just have the best interface and streaming of real time price action.

---

Again it's so sad because Robinhood has by far the best interface out of all of them. One look at WeBull and I was like "nah fuck this"

I'll have to do a lot of research once this is done to see where I want to go but leaning Fidelity or Ameritrade.

---

doge cratering.

---

As someone who has literally not given a shit about investing outside of educational reasons and retirement funds, I'm not wild about Fidelity's UI. I've only used it through chrome and it's a little buggy and slow.

As far as features go, like I said I've got nothing to really compare to so I'll be curious what others' views are.

---

Man I'm loving these prices on IEA warrants (IEAWW) too. Definitely throwing AMC gains that way. Hope I will still be able to buy around 4!

Don't think anyone else here is in them? It's a green energy stock that's already done big things, but is sure to do a lot more.

---

Pokewars posted...

What app or method are people using now that allows buying?

Oh I guess that was asked and answered above.

You can do AMC on Cash App and it takes literal seconds to set up, which is what I've been toying with buying back in at. Like others here, my money is currently tied up in Robinhood (but I'm looking to move that out once I finally sell).

And thanks for the quick responses everyone! I was actually thinking Ameritrade so I'll check that out a bit more.


---

got an account at Ally but i've no idea how good they are. they're just the guys who bought the last guy i was with who bought the last guy i was with (Zecco?). that's my main but robinhood's interface is so much nicer that i used 'em a bit and they're good for crypto. still my best option on that, unfortunately.

---

oh hey, my check to TD from my old retirement fund got there. LETS GET DAY TRADING

...

After I put $30,000 in index funds >_>

---

Isn't Ameritrade becoming Schwab at some point? So wouldn't it make sense to cut out the middle man and set up a schwab account if that's the direction you're leaning?

---

ExThaNemesis posted...

Again it's so sad because Robinhood has by far the best interface out of all of them. One look at WeBull and I was like "nah fuck this"

I'll have to do a lot of research once this is done to see where I want to go but leaning Fidelity or Ameritrade.

Yep I loved Robinhood. It was perfect for playing around with like $1-2k because of how easy it was to use and how clean everything was on the layout.

But fuck em I'm sure I'll get used to something else.

---

https://www.cnbc.com/2021/01/29/sec-reviewing-recent-trading-volatility-amid-gamestop-frenzy-vows-to-protect-retail-investors.html

SEC promising to actually do some good. But I'm too ignorant of their history to have any idea if they're good on their word or full of shit.

---

AMC hasnt gone past $16. I wouldnt have been able to get it this second go-around anyway as I had to drive to the airport and couldnt monitor until now.

I expect it to go higher next week tbh. After that not sure will have to see

---

SEC will look out for the little guy but not necessarily the way you are thinking

---

Like honestly I feel like Robinhood cost me literal tens of thousands of dollars with their garbage. Two fold-- one they tanked the stock with their games. Two they actually had me "hedge" by selling 2000 shares at $13 when I had no intention of doing so under normal circumstances.

If the SEC can make good on that that's great but I feel like it's gonna be a matter of not being able to prove my lost gains. I mean I'd consider it completely fine if they just gave me the difference between Wednesday Market Close and $13x2000 but I'm skeptical I'd even get that.

---

Thanks to the power of DAY TRADING, I boug back 100 when it fell to 13.40

Now its still falling. oops

---

Well now I have a Roth IRA! Of course, I still have to wait for some verification between my bank and vanguard, but pretty soon I feel like Ill finally be able begin to wisely invest money into my future

---

GANON1025 posted...

Well now I have a Roth IRA! Of course, I still have to wait for some verification between my bank and vanguard, but pretty soon I feel like Ill finally be able begin to wisely invest money into my future

My only piece of advice, is because of the caps to how much you can invest and how lucrative tax free growth is, don't go crazy gambling in it. I have 80% of my Roth in index funds and the other 20% I buy random shit

---

Okay so I gotta know

Roth IRA vs Traditional IRA

When am I picking which. Like I figure I may as well get some tax deductions with my AMC winnings so may as well start now.

---

Lopen posted...

Okay so I gotta know

Roth IRA vs Traditional IRA

When am I picking which. Like I figure I may as well get some tax deductions with my AMC winnings so may as well start now.

I go 100% Roth because I never plan on retiring and my spouse and I already own 3 houses so I don't expect my income tax level to ever be lower.

If you are a high income worker and plan on retiring to a low income traditional is better

---

Ah okay

So Roth sounds better then I guess

Kinda weird though because I have the potential to work high income, and used to, but I just haven't in years

Can I swap between the two if my situation changes? Also does your spouse's retirement plan actually influence which choice is right?

---

Lopen posted...

Ah okay

So Roth sounds better then I guess

Kinda weird though because I have the potential to work high income, and used to, but I just haven't in years

Can I swap between the two if my situation changes?

Yep. I believe the only limitations are you can't contribute more than $6000 a year to roth's and you can't contribute at all to a roth if you make over ... $125,000 a year I think?

Edit: Oh wait you mean swap the money from one to the other? No. I don't think so. You can contribute to the other type though

---

Ah no that's fine

If I start earning more I start going to the traditional and I can reap both as I choose should I retire

Also since I edited this in after the fact does your spouse's IRA type matter much?

---

AMC in freefall again -_-

---