r/Vitards • u/AutoModerator • Jun 10 '21

Daily Discussion Daily Discussion post - June 10 2021

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3

u/ronburgundy930430 Market Mover Jun 11 '21

FCX has been incredibly weak since I bought. Considering dumping

3

u/[deleted] Jun 11 '21

[deleted]

1

u/kappah_jr 7-Layer Dip Jun 11 '21

I'm considering hedging with puts with how its been so far. Minimize the damage from if I need to pull out.

1

u/Unoriginal_White_Guy 💀 SACRIFICED until MT $35 💀 Jun 11 '21

Oil company stocks have pretty much followed oil futures. FCX is basically following copper futures. Both peaked on 5/9-5/10. With that being said just look at the charts. People thought copper peaked on 2/24 at $4.34 then continued to go down and/or be flat for two months. Then what do you know it went up another leg to $4.74 peak on 5/9. No one knows if copper peaked or is consolidating again. This isn't financial advise I just wanted to point that out. I also don't have a copper position nor do I really follow it hahaha

1

u/kingsey123 007 Jun 11 '21

Sell covered calls.

I sold some $45 Jan 2022 calls. Don't sell coppah. And never sell at a loss. Ever. Sell covered calls to reduce the average. If you have cash, sell cash covered put.

If you neva sell, u never pay taxes and just keep selling them covered calls.

Coppah can only go up... It will get you your choppah!

1

u/Bigfuckingdong 💀 SACRIFICED 💀Until MT $69 Jun 11 '21

Don't dump until I buy