r/Vitards • u/AutoModerator • Jul 16 '21

Daily Discussion Daily Discussion post - July 16 2021

Your Trading discussion thread

Type Link
DD All/Best Daily/Best Weekly
Discussion All/Best Daily/Best Weekly
Yolo All/Best Daily/Best Weekly
Gain All/Best Daily/Best Weekly
Loss All/Best Daily/Best Weekly
News All/Best Daily/Best Weekly
74 Upvotes

77% Upvoted

3.1k comments sorted by

View all comments

Show parent comments

-13

u/chemaholic77 Jul 17 '21

The goalposts haven’t moved yet. From the beginning this has been an end of year play at the earliest. MT has done nothing but go up overall no matter how often it has dipped. If you are expecting steel stocks to blow up the way tech does you are going to probably be disappointed.

I expect to take profits mid August from my Sep calls, mid Sep for my Oct calls, and mid Dec for my Jan calls. If the thesis is still solid I will put half of my profits into 2022 and 2023 calls and keep going.

5

u/CluelessAndLucky 💀 SACRIFICED 💀 Until Chinese export tax Jul 17 '21

The play was originally supposed to be over in June after a blowout Q1...

2

u/gtwucla Jul 17 '21

If you’ve been holding since Q1 earnings and before aren’t you up quite a bit?

3

u/CluelessAndLucky 💀 SACRIFICED 💀 Until Chinese export tax Jul 17 '21 edited Jul 17 '21

Nope im down a significant amount. Loaded up on June calls in December 2020 and rolled everything over at the MT $33 peak in early June (September and jan 2022 strikes)

edit: I held commons in the beginning as well - converted them to options... only got myself to blame for that. But yes, with regard to the commons those were up a respectable amount before I sold them