Don't cringe, but...GUSH! 🤦♂️😋
By - Glittering_Tiger_289
If you want leverage, just trade /CL or /BZ directly
You know that’s a double leveraged ETF, right?
Is there a problem with a double leveraged ETF?
Still learning. Thanks in advance
I've invested in them. They're supposed to be more risky with larger movements (look at GUSH 5 year chart, beginning price compared to current), but I've never had any problem with them. REML was my first one after the covid market crash, got in at early and made a ton of money along with monthly dividends. USOI was also interesting, good dividends but traded sideways too much. Basically when selling puts I'm just trying to find what I think are decent stocks that are hopefully not meme stocks (thanks SPRT) that also have good premiums on the call side in case I get assigned shares. Also not yoloing into anything, just small contract counts here and there.
I'm running LCID currently. Hadn't looked into GUSH before, but I've run CSP's on TNA before. Also 3x leverage, but broader industry I believe.
TNA actually looks pretty good too, better maybe since it has weeklies. Good catch, ty for sharing that one. 👍
It can swing pretty wildly which is why the premiums are juicy. Set a csp, and then pay attention if you need to manage/close/roll the trade.
I'm not playing it right now, but just because I've put BP elsewhere currently
So your strategies have consisted of selling weeklies on LCID, selling CSP on SPRT, and now playing with a 3x leveraged ETF.
You would think sprt would be enough to make you rethink your trading strategies but I guess not
I've had some shares of gush for a long time just as like a lottery ticket (bought 4 shares for my wife last year as a joke, $63.67 average share price and it's been quite boring honestly, mostly trading sideways. The CSP on LCID made me money too, not sure why that is considered a bad play here 🙄
It's too easy to troll each other on reddit, but anyways enough of that. SPRT was a bad play, there is no way to put a positive spin on that although some people in the SPRT chat are still trying to.
Thanks anyways for the advice.
You didn’t have to humble brag on us that you have a wife
I get all the leverage I can take via options contracts. Your balls are waaaay bigger than mine. But if you do it, let us know.
Selling 1 TNA 83.50 put 9/24 expiry and one GUSH put $70 10/15 expiry. It doesn't seem like a big deal to me though, I would be happy holding these shares at these prices and selling CC afterwards. I'm really not sure why more people don't sell options.
Oh I sell plenty, though lately I have been hosed buying but that's another story. And I'm dumb, it's important not to forget that part.
I just don't understand leveraged ETFs well enough to fuck with them, that's all I meant by the comment.
Yeah I try to stay away from the buy side of things except to close out my sold options early 😋
Me too. But, I printed on a couple FDs on IRNT and BB8G so it was house money.