Sos

[BilltheCat]

This is another of the blockchain mining companies out there. It went up $4.40 (59%) today to close at $11.84. I think this has the ability to run up to $25 with bitcoin running up as it is lately. Thinking this is similar to RIOT and MARA but maybe not as big.

For substance this is money I don't mind losing a bit of. Already have a 10% trailing stop loss on it.

I bought 500 shares at $11.50 this morning. Also thinking of buying the Jan. 21st 2022 $5 call option at $8.05.

My thinking is if it runs up like I think it should I can sell all or a part of my 500 shares then let the option run until I'm happy with that profit.

Thoughts? I'm kind of new to the option strategy so any advice is appreciated. (thinking of Metfan here).

 

[METFAN]

GOOD LUCK...I would not have bought the shares unless I wanted to sell call options against them. I absolutely LOVE the long term options.. Low risk and if you are right you will make a huge profit..IF I was you, I would sell to open the FEB 19th, $17.50 strike call option on 300 shares for $100 ea. you make almost 10% on your initial layout and if it goes over you made over $6 per share in a few days. Then Buy 3 more options to cover the shares you wrote calls on

I WILL DEFINITELY BE BUYING 6 OPTIONS FIRST THING TOMORROW..Stock over $13.00 now

 

[BilltheCat]

Did you buy your options on this? I bought 2 options when the price dipped this morning and both the stock and option prices are up.
I also bought 500 shares of HIVE which is a Canadian blockchain company. For the US it's HVBTF I believe. Nice to not have to deal with the currency exchange for once.
Will have to decide an exit price to lock in my profits.