(03-13-2020, 05:48 PM)vbin Wrote:Missed this earlier. The high today was like 3:59PM Don't make me scroll up and see when you posted that put buy.(03-13-2020, 05:27 PM)fenders53 Wrote:I closed all my puts yesterday. 1 remaining which was opened at high today. I consider it hedge against the other reds I have been seeing. Puts act as a bandage when rest of your portfolio is bleeding.(03-13-2020, 04:49 PM)kblake Wrote: OIL is going to the moon next week. Just watch. I just added 6 names in the after market. You heard it here first. Buy all you can!!
I'm starting to get tired of your foolishness kblake.
Just kidding, I own plenty and hope you are right. I'm not selling yet because I'm an idiot, but next time I want to buy more oil I'm going to buy beer and lotto tickets instead.
PS, good call on the market direction today..... not. And send my regards to your shortie friend vbin.
Just having fun.
On a more serious note. There is nothing wrong with hedging. I was hedged with covered calls on most of my positions. That sure wore out quickly this time lol. Nothing works all the time or you'll go broke protecting yourself from going broke. Nobody told me the market was going to drop 7000pts. Well except maybe Armageddon Otter lol. If the market heads higher, which I don't actually expect, I'll hedge in some form. I have no idea if yesterday was the bottom, but no chance we are heading straight up soon. I highly suspect the last hour was a short squeeze. The whole world is short and that is a delicate situation when machines go nuts on short notice.