RE:RE:Friday contest1. Yes, it is Norberts gambit. Your broker should not charge you. I own US dividend paying stocks like AT&T, IEP and PM. I have the USD account linked to my USD bank account. So when I need USD for a trip to Florida or Vegas, I just xfer funds from my USD investment account to my US bank account. I don't pay exchange that way.
2. I sell PUTs and CALLs around share I own. Options are a depreciating asset and I prefer collecting the premiums as a seller more than paying for options as an owner. Been doing is for years, options can be a tool of mass detruction, so you need years of practice.
3. I hope it goes to 100++, but since WEED/CGC is such a large portion of my assets, I prefer to milk it for option income and it helps hedge against a downturn in the stock, which none of us want.
Enjoy your wives, I'm on my second myself (and 5 kids).
Antham
WebSwinger wrote: 1. How did you get money transferred to USD for free. Did you do a Norbert’s gambit, or is this a new thing your broker is doing(transferring money to USD for free)
2. When you say cash secured puts, Is that like “covered puts”. I have never used covered calls and puts before. I buy regular calls though.
3. I think part of the reason no one wins the Friday close guess is because we all want the sp to go up so we can’t resist guessing high. It will go up big eventually on Friday and then no one will win because we will have guessed to low. Perhaps Mick will win as he guesses high. I don’t care about winning, except this up and coming week and you know why. But to be honest, I care a lot more about making big money than winning the bet even if it means my wife screams another mans name during our love making. I may even guess we are going to the moon next week.
AnthamInvest wrote: In all seriousness.... it's fun to do. I don't mind doing it.
Interesting to note that in 3 tries NOT once has it been won (within .50 +/-.25)despite multiple tries from many people. I suppose it just shows how hard it is to beat Mr. Market.
The stock was at $61.23 at 3:59:55 and dropped to $60.87 in the last five second as someone dumped (daytraders maybe?). Anyway as I've prevously posted I had the stock bracketed with Covered Calls at $68/$72 and Cash secured Puts at $58. So I made great money today.
I've moved many of my WEED shares over to the NYSE as the option market is much more liquid in the US. My next set are set for March 29th, 40 Covered Calls at $48.50/$50USD on CGC and 60 Puts at $43.50/$44.00USD.
Moving them is from Cdn WEED to US CGC is free BTW. Just call your broker. It's a great way to get USD without paying exchange fees.
Antham