Is anyone else here into cryptocurrency?

Casey Jones wrote:

Cotton wrote:I am . Being a retired stock and commodity broker it's a natural fit for me as a hobby to own it , daytrade and swing trade it etc

I don't see the value in a private fiat; and I don't see that strings of digital code, meet the test of "what is money" put forth by von Mises.

Money, to be workable as money, must be physical - have a property; not a promise and not a string of code only readable by a computer plugged into 120V AC and the Internet.

And it must not be duplicable.  Unlike, say, a Bureau of Engraving print run.  Or unlike a CTRL+PRNT order.

We don't know the code.  But we do know the code came up out of nowhere.  Nobody sacrificed any wealth to create it.

We can't know if it is duplicable.  Only that we cannot duplicate it - but that doesn't mean, within the code, it's not duplicable.

And we DO know, that both buyer, seller and infrastructure must be up to do an exchange in this code.

I have had to wrestle with this.  There's a few good reasons to get into bitcoin; but the drawbacks are so extreme, that barring international flight, I don't think I want my money tied up in that circus of autistic clowns.

Cotton wrote:

Sprintcyclist wrote:

Cotton wrote:

Sprintcyclist wrote:

Cotton wrote:I am . Being a retired stock and commodity broker it's a natural fit for me as a hobby to own it , daytrade and swing trade it etc

Good on you. Cryptos have never appealed to me so I keep out of them.
I am also retired and use my investing experience to control my super funds. That has done very well so far but 'all ships float on the incoming tide.'

What are your fav investing books?

That's a good  question. Its been a while since I've read an investment  book. I have a knavk for identifying opportunities  to create synthetic neutrals and  high return covered  call writes. The risk if Paritially neutralized in acaynthetpc neutral.  The guy on the  other side of those positions has to beat me on time , price , strike and volatilty then take my premium.  



Something they likely can't do in a consistent manner

b

Yhr

............  high return covered  call writes         ..............

One of the more appealing sides to market investing is options. They can be done with 100% safety.
I have bought a few calls but my patience let me down. Was very much a learning experience.
It's always something I can get back into.

Selling covered calls, out of the money calls etc is like selling  air short

Delta neutrals require selling (writing) calls and puts.  

Simplified : stock or commodity delta neutrals Is not complex.

Stock A is $100 per share  

If you Short a $ 120 call on it and then short an $80 put you are now delta neutral. Say you sold each one for  $10 As long as the range of the stock sta $ 22 is less than $120 ( strike plus more web lll  and greater than $80 both options  expire worthless.  That's great because you are Short both .it's a margin Trade too

A ""synthetic " neutral consists of converting units to capital . You then set the perimeters of the trade via strike prices.

You convert units to capital .

The Max profit is the price between 120 and 80 at expiration as your.
You make the $20.over $80 And under the the $120 as u have  already collected $20..
At 130 you are even on the 120 valley girls yo sold for $10 sre added to the  m
Mix

Goodnight

"Dream on ". Written by Steve Tyler at age  15

" Dream until your dreams come true "

Boston marathon tribute

Sprintcyclist wrote:

Cotton wrote:

Sprintcyclist wrote:

Cotton wrote:

Sprintcyclist wrote:

Good on you. Cryptos have never appealed to me so I keep out of them.
I am also retired and use my investing experience to control my super funds. That has done very well so far but 'all ships float on the incoming tide.'

What are your fav investing books?

That's a good  question. Its been a while since I've read an investment  book. I have a knavk for identifying opportunities  to create synthetic neutrals and  high return covered  call writes. The risk if Paritially neutralized in acaynthetpc neutral.  The guy on the  other side of those positions has to beat me on time , price , strike and volatilty then take my premium.  



Something they likely can't do in a consistent manner

b

Yhr

............  high return covered  call writes         ..............

One of the more appealing sides to market investing is options. They can be done with 100% safety.
I have bought a few calls but my patience let me down. Was very much a learning experience.
It's always something I can get back into.

Selling covered calls, out of the money calls etc is like selling  air short

Delta neutrals require selling (writing) calls and puts.  

Simplified : stock or commodity delta neutrals Is not complex.

Stock A is $100 per share  

If you Short a $ 120 call on it and then short an $80 put you are now delta neutral. Say you sold each one for  $10 As long as the range of the stock sta $ 22 is less than $120 ( strike plus more web lll  and greater than $80 both options  expire worthless.  That's great because you are Short both .it's a margin Trade too

A ""synthetic " neutral consists of converting units to capital . You then set the perimeters of the trade via strike prices.

You convert units to capital .

The Max profit is the price between 120 and 80 at expiration as your.
You make the $20.over $80 And under the the $120 as u have  already collected $20..
At 130 you are even on the 120 valley girls yo sold for $10 sre added to the  m
Mix

Goodnight

"Dream on ". Written by Steve Tyler at age  15

" Dream until your dreams come true "

Boston marathon tribute

I'll have to reread that many times to come close to understanding it

Cotton wrote:

Sprintcyclist wrote:

Cotton wrote:

................ Selling covered calls, out of the money calls etc is like selling  air short

Delta neutrals require selling (writing) calls and puts.  

Simplified : stock or commodity delta neutrals Is not complex.

Stock A is $100 per share  

If you Short a $ 120 call on it and then short an $80 put you are now delta neutral. Say you sold each one for  $10 As long as the range of the stock sta $ 22 is less than $120 ( strike plus more web lll  and greater than $80 both options  expire worthless.  That's great because you are Short both .it's a margin Trade too

A ""synthetic " neutral consists of converting units to capital . You then set the perimeters of the trade via strike prices.

You convert units to capital .

The Max profit is the price between 120 and 80 at expiration as your.
You make the $20.over $80 And under the the $120 as u have  already collected $20..
At 130 you are even on the 120 valley girls yo sold for $10 sre added to the  m
Mix

Goodnight

"Dream on ". Written by Steve Tyler at age  15

" Dream until your dreams come true "

Boston marathon tribute

I'll have to reread that many times to come close to understanding it

To simplify a synthetic neutrals Is the selling (writing) of out of the money puts and calls.

In that manner all one has to do keep the underlying  security between the strikes to take the trade down!  

Sprintcyclist wrote:

Cotton wrote:

Sprintcyclist wrote:

Cotton wrote:

................  Selling covered calls, out of the money calls etc is like selling  air short

Delta neutrals require selling (writing) calls and puts.  

Simplified : stock or commodity delta neutrals Is not complex.

Stock A is $100 per share  

If you Short a $ 120 call on it and then short an $80 put you are now delta neutral. Say you sold each one for  $10 As long as the range of the stock sta $ 22 is less than $120 ( strike plus more web lll  and greater than $80 both options  expire worthless.  That's great because you are Short both .it's a margin Trade too

A ""synthetic " neutral consists of converting units to capital . You then set the perimeters of the trade via strike prices.

You convert units to capital .

The Max profit is the price between 120 and 80 at expiration as your.
You make the $20.over $80 And under the the $120 as u have  already collected $20..
At 130 you are even on the 120 valley girls yo sold for $10 sre added to the  m
Mix

Goodnight

"Dream on ". Written by Steve Tyler at age  15

" Dream until your dreams come true "

Boston marathon tribute

I'll have to reread that many times to come close to understanding it

To simplify a synthetic neutrals Is the selling (writing) of out of the money puts and calls.

In that manner all one has to do keep the underlying  security between the strikes to take the trade down!  

Ah. so I think I have a handle on it.
If I own Stock A,  I can sell a put on A and sell a call on A. Both out of the money.
If the stock stays within those limits I get the premium on both of those options, pay the commission and should be ahead.
I still own the stock.
However far the Stock price moves my position on the options should equalise each other out. Hence the phrase neutral.

Casey Jones wrote:I'm not an expert; but before the economy went full-on funhouse, I was trying to learn.

One thing that's both frowned upon and illegal...is, Naked Shorts.

A Naked Short is when you sell short when you don't own or have control over shares to cover your short.

Yes, a lot of traders do it.  If things go wrong and they take apart your sales record, you can be prosecuted.