Discussion ***Official*** 2021 Stock Market Thread

[dasherHampton]

MSN Money/markets has a new feature that is kind of cool.

If you research a stock you might get a banner showing how its doing with bigger funds. holdings/+/-

I think it's good info.

 

[FelixDeCat]

BYSI has been all over the place. I been trading it back and forth here and there. I last held it at $27 and sold at $30 to free up capital and trade other stocks. Then there was a short attack which made it crash from $29 to $22. Turned out to be an excellent trading opportunity, but you have to careful when dealing with stocks that rapidly decline as its hard to tell when the selling / shorting will end and the stock finds a tradable floor.

Since I've been trading biotech / pharma stocks a lot lately, Ive been learning about the stages of development:

(from the FDA website)

Stage 1 Discovery and Development
Stage 2 Preclinical Research
Stage 3 Clinical Research
Stage 4 FDA Review - Approval or Rejection
Stage 5 Post Market Safety Monitoring

The process can take several years and averages about $1 billion dollars in development costs.

Assuming the drug appears to be safe and effective (completion of stage 3) companies can pay the FDA to speed up the drug review process, which most of them do. Its call PDUFA and costs a few million dollars. BYSI has completed Stage 3.

The shorts think it will be rejected because most of research was done in China and Eastern Europe with little input in the US. Sometimes different racial groups can have different reactions to drugs as a whole vs the entire available population groups on Earth (which they claim), therefore it would not be accepted until another study is done in the US.

However just today Baird upgraded the stock to buy and gave it a $50 price target thinking it will be approved.

A decision can happen at any time. But Beyond Spring's PDUFA review date is November 30, 2021 (which can also be extended if necessary by either the company or the FDA).

The shorts think its a $4 stock if rejected in America. Other price targets for approval are $50 to $100+.

Todays close was $24.32.

 

[dasherHampton]

My put is down like $60 but I'm not going to worry about it until next year.

 

[FelixDeCat]

n/m

 

[Icecold]

I'm surprised nobody here is talking about Gamestop. Earnings release, down over 10% and by the end of the day already made it back. Seems somewhat noteworthy.

 

[FelixDeCat]

I'm surprised nobody here is talking about Gamestop. Earnings release, down over 10% and by the end of the day already made it back. Seems somewhat noteworthy.

Did you successfully trade GME (buy the dip)?

 

[Red Squirrel]

My company's stock is now a bit higher than pre covid levels. It might climb more but I figured I'd cash at least some while I was ahead. Balance was at 57k which is crazy, never seen such a large amount of money in any of my accounts whether it's liquid or not. Cashed out 25k worth of stocks as I don't want to get hit too hard with capital gains so I will see how bad it is once my taxes get done, if it's not too bad I will take out the rest if the time is right at that point. This will pay off my credit line, and essentially my new 40 acre property that I bought. Sending donations to various charities too, did $500 to my church, food bank, and humane society. Think I will do one more, just have not decided which one yet. Want to keep it local.

Next big purchase is probably going to be an EV so I'll continue to accumulate money in that account and see where that brings me in the next few years. The property I bought is about an hour away from town so if I plan to go to it often enough an EV is going to be a must so I'm not burning so much gas.

Have not seen the money hit my bank account yet but it's kind of surreal knowing I have this money coming.

 

[dasherHampton]

Thats awesome, but did I read correctly that you donated 500k to your church and other charities?

Or did you mean $500 each (which is still great)?

 

[Icecold]

Did you successfully trade GME (buy the dip)?

I did not buy the dip, I was just talking about the fluctuation of the stock price. Most people seemed to think GameStop would drop a bunch after earnings like they usually do but I don't think very many thought the stock price would recover all of the losses before the day was even over. Tons of media outlets already had their "GameStop way down after earnings" articles up alongside the current price showing GameStop actually going up for the day.

I have been "hodl'ing" a small amount of GameStop shares since January though, having sold just enough near the peak to cover my initial investment and then letting the rest ride. I am bullish on the stock moving forward. This is not financial advice.

 

[jpiniero]

I have been "hodl'ing" a small amount of GameStop shares since January though, having sold just enough near the peak to cover my initial investment and then letting the rest ride. I am bullish on the stock moving forward. This is not financial advice.

You would think WSB would get bored of Gamestop by now.

 

[dasherHampton]

I am what I am. That being said - I think GEVO is stock worth exploring.

 

[Red Squirrel]

Thats awesome, but did I read correctly that you donated 500k to your church and other charities?

Or did you mean $500 each (which is still great)?

Yeah $500 to each. Basically $1500 total so far. Probably going to do another $500 and then I think that will be good. I always tell myself I should donate more to charities but then never really do it, so this makes up for it I guess. Oh and $500 not 500k lol. I realized I put 500k in the post for some reason, fixed it. Yeah I wish I had that kind of money to just throw around.

 

[FelixDeCat]

Yeah $500 to each. Basically $1500 total so far. Probably going to do another $500 and then I think that will be good. I always tell myself I should donate more to charities but then never really do it, so this makes up for it I guess. Oh and $500 not 500k lol. I realized I put 500k in the post for some reason, fixed it. Yeah I wish I had that kind of money to just throw around.

It is good to share your blessings. I too donate to religious and secular charities as well.

 

[dasherHampton]

ATER must be in a short sqeeze.

 

[RichieZ]

market is a bit shit, but i've started writing covered calls against some very large positions that I intend to hold indefinitely. starting with monthlies with low premium and low risk to get my hands dirty

Quick update on this as I wrote some monthlies expiring this fri on 9.17, its funny I put in what I thought was a very conservative far OOM strike given the timing and FB just took off and hit all time highs and IMO it came uncomfortably close to being called. These shares are in my Roth IRA so I don't have to worry about tax implications, good learning experience...

$355 when I wrote it and hit an intra day high last week of $386 before falling off:



Plan to continue and expand to my taxable accounts but probably with more of a strike ladder and different dates.

 

[FelixDeCat]

Nice to see someone making money Richie! I've been on a long losing streak lately that I cant seem to shake, and declining / stagnant markets sure havent helped either.

 

[dasherHampton]

I punted on TAL and EDU this morning. All in all I lost about $600.

I don't even understand what's going on there. China wants to make all of those companies not-for-profit?

 

[FelixDeCat]

Call me a sucker, but I bough some SAVA. Hope I dont go broke.

Cassava Sciences Has Value and Is Likely To Proceed to Phase 3

SAVA stock still has an implied upside of 67.9% to $78 per share, even if there is a 50% chance that either the shorts or longs are right.

investorplace.com

 

[uclaLabrat]

Call me a sucker, but I bough some SAVA. Hope I dont go broke.

Cassava Sciences Has Value and Is Likely To Proceed to Phase 3

SAVA stock still has an implied upside of 67.9% to $78 per share, even if there is a 50% chance that either the shorts or longs are right.

investorplace.com

You're a brave man.

 

[dasherHampton]

I still have my $35 SAVA put and I sold a $25 about a week ago. I had like $2800 worth of room on one account so I figured "what the hell?"

The $35 sold for $1040 and the $25 sold for $530.

 

[FelixDeCat]

I still have my $35 SAVA put and I sold a $25 about a week ago. I had like $2800 worth of room on one account so I figured "what the hell?"

The $35 sold for $1040 and the $25 sold for $530.

I can't say for sure what will happen in the end but the reason why I bought was that it seems things may have finally bottomed near term and a tradeable bounce may be here.

 

[FelixDeCat]

Horrible day, sold everything at a loss. Might buy back SAVA on a dip.

 

[dasherHampton]

I've already had to buy back two batches of options to avoid a margin call.

Hopefully no more.

 

[jpiniero]

Time for the Fed to bail out Chinese Real Estate.

 

[dasherHampton]

What do you guys think about this:

I got put 1000 shares of SOLO a few months ago and I've been letting them sit (Its around 3.30 right now). I check calls every once in a while but there's never anything there.

So I looked at REALLY far out calls. I could sell $7 calls on all of the shares expiring Jan 2024 for almost $1200. I know its over 2 years away but thats still a good return over that time.

Crazy? Will SOLO make me pay if I do that? Will it jump to $15 next year?