06-29-2022, 07:07 AM
This morning I'll begin setting $65 BBY LBOs. This is a tax play as I have a full position already. I have some shares bought earlier this year in the 90s so my plan is to buy, wait 31 days, then sell an equivalent value of higher-priced shares at a loss.
I don't have a lot of these opportunities in my taxable account but once I make the sale I'll look for other companies I can do something similar with.
I also need to turn drip off on my BBY in my Roth - been caught by wash sale rules there before, not that it amounts to a lot.
Why $65? It's a level that I set a while back and I'm confident it will reach. Will it go to $60? Probably; I don't think the bear market ends for a while but while I want to be greedy I don't want to get too greedy plus with 31-day intervals I need to start sometime to get as many of these in as possible before things turn.
I also doubt it gets to $65 today but it's getting close enough for me to start setting the orders.
I don't have a lot of these opportunities in my taxable account but once I make the sale I'll look for other companies I can do something similar with.
I also need to turn drip off on my BBY in my Roth - been caught by wash sale rules there before, not that it amounts to a lot.
Why $65? It's a level that I set a while back and I'm confident it will reach. Will it go to $60? Probably; I don't think the bear market ends for a while but while I want to be greedy I don't want to get too greedy plus with 31-day intervals I need to start sometime to get as many of these in as possible before things turn.
I also doubt it gets to $65 today but it's getting close enough for me to start setting the orders.