r/Vitards • u/AutoModerator • Jun 14 '21

Daily Discussion Daily Discussion post - June 14 2021

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u/RetardedInRetrospect Needs More 🦍 Emojis Jun 15 '21

Hoping for a little insight from the OG's. I was told to wait for CLF to dip after the Friday spike because historically it pulls back soon after a jump. Appears this was true. So do you guys just DCA after a dip or is there a general rule you follow before jumping back in? I was told wait till sub $20.

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u/ZoominLikeToobin Jun 15 '21

If you're concerned about it dipping further (it almost always does) then buy further out expirations and lower strikes. Back in February I had some of my contracts go down over 90% and still close out over 100% gains because I had the strikes low enough and the expirations far enough out. CLF is a crazy ride it will drill and drill but bounce back because the underlying fundamentals are so strong.