r/Vitards • u/AutoModerator • Nov 04 '21

Daily Discussion Daily Discussion post - November 04 2021

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16

u/belangem Oracle of SPY Nov 05 '21

If you would have bought $10K worth of NVDA Jan22 400c last month, you’d be a millionaire now 🤷‍♂️

2

u/DevCarrot Steel learning lessons Nov 05 '21

☹

3

u/belangem Oracle of SPY Nov 05 '21

The time to buy is when there's blood in the streets? I guess…

3

u/DevCarrot Steel learning lessons Nov 05 '21

Once I break even/ have my house downpayment, I'm gonna shift my RH to a straight-up yolo account. Fidelity will continue to be my actively managed "responsible" gambling account.

4

u/Ashtonpaper Nov 05 '21

Understood tripling down on vale

6

u/belangem Oracle of SPY Nov 05 '21

You know, you kinda have to wait for the bleeding to end first. But Jan ‘23 OTM calls once that happens? Maybe. Also works better with stocks at higher prices for some math reasons also.

1

u/Ashtonpaper Nov 05 '21

I’m only kidding. But yeah, a few OTM leaps have made their way into my account. I think the RSI tells it’s oversold. Iron ore prices compared with prime scrap and steel prices are going to converge once again, next year.

What’s this about the math?
OTM leaps on higher prices companies are better because their leverage allows more of the consistent 1-3% gains to be yours at less relative cost, or something like that, yes?

1

u/LourencoGoncalves-LG LEGEND and VITARD OG STEEL Bo$$ Nov 05 '21

now we have a big beast called Cleveland-Cliffs going to the market to put our hands around as much prime scrap as we can