Feel like $SOFI is about to rip if today's overall market rally has any legs. This stock probably has one of highest mixes of + and - sentiment and tailwinds/headwinds. Earnings next week. I bought a little over a hundred shares so I could sell CCs on it too, but I sold a call when the stock was trending down for like $8 premium and $8 strike, expiring next Friday. Now regretting that move. Might sell some other holdings to double down on a possible swing trade or to keep as a long position should my shares get called. I don't know. Just thinking through it here.
Conor Mac's avatar
I know mr @stockmarketnerd follows this business
The Hippie Investor's avatar
@investmenttalk yes, good info and analysis from him on this one. Been following.
The Hippie Investor's avatar
Looks like the rally was short lived. Next move up or down will be determined by earnings.
Joshua Simka's avatar
Really tough to write covered calls on a volatile stock like $SOFI. Any reason you chose that strategy as opposed to writing puts?
The Hippie Investor's avatar
@tomato I only have limited options in my account, but also I'm just starting out with options, so just learning the ropes with a basic strategy to generate a little extra cash in this market. My issue was really patience. I should've waited for a decent premium at a strike price that I was good with selling at for an acceptable trade return. Hindsight 20/20.