Stock back up to 120
Remember when the stock fell to the 90's and 100's and people on here thought it was a stupid move to buy shares so cheap and "average down"?
Pepperidge Farms remembers
Oh wait, 221 million subscriptions? I thought everyone was cancelling their disney plus?
guess not
well done, that's how the rich do it lol..see munger/buffet. how much of OXY does Buffet own? lol probably got paid to buy too--sold puts, just like he did with KO;
'In spring of 1993, Buffett sold short 50,000 $35 put options on Coca-Cola (NYSE: KO), expiring in December, for about $1.50 each. At the time, KO was trading at about $39 per share.
By doing this, Buffett made $7.5 million in cash up front for selling the puts. It’s his money to keep regardless of the outcome.'
for those unfamiliar , when you sell a put you r PAID for this obligation . He was paid $7.5 mill to basically be an insurer of KO at $35 , a compnay he
WANTED to own. Doesnt go below $35 at expiration? he keeps the $7.5 mill, lol,.... its his regardless .
i FINALLY get to get lose a few holdings this week, (hope i just didnt mush it!), haha! sold puts on xbi, soxx months ago!! was assigned, been sellign calls since, expiration Friday and im out at the cost i was assigned at...keep the premium for selling the put originally and for the calls. I call it the "put/call fund' lol, great toy to have fun with it, esp., if retired got nada to do.......... and lookign for a passive income stream
fun fact;
SPY
technically, in all bear markets since the 50's; fibonacci from the high to the low--IF a candle crosses about the .50 fibo (50% retrace) adn closes above it? since 1950,
there hasnt been a LOWER LOW. That is to say, if history repeats itself, the low of this bear market is done with . Of course, one could argue these r different macro times so it doesnt hold water--- fine. Just sayign what the technicals historically say.................. IMO , i think sept/oct sees increase in volatility but no lower low. I think a catalyst would need to signal this , liekly geo-political