02-04-2020, 10:45 AM
(02-04-2020, 09:50 AM)Otter Wrote: At least my downside is locked in with a Put. There's crazy people out there who sold naked calls on TSLA.
Yes, it's the same reason Mike and I use spreads. Our profit potential is limited, but defined outcomes are nice. And thanks, but I'll just pick on companies like DE that are having a tough quarter or two. I can't even imagine sitting on a naked TSLA call waiting for the broker to cash me out at a monster loss. Some folks are getting devastated. I suppose a lot of them too young to have experienced story stocks of the .com era. There were dozens of stocks acting much like TSLA today.
Anyway, hopefully the oil drubbing is subsiding. My BP did their part today. Score one for Cramer. He had a part in talking me into doing some DD on BP as my only oil major.