Need Advice on A Position (Major Loser) Dollar-Cost Average?

Discussion in 'Trading' started by zghorner, Mar 15, 2019.

  1. taowave

    taowave

    Which is why I said he is punting.....
     
    #51     Mar 24, 2019
    murray t turtle likes this.
  2. %%
    Good news XOM is still doing good. BUT I hope you dont find out the hard way why many use a 200 day moving average:cool::cool:
     
    #52     Mar 25, 2019
  3. Ok, if you can trade options in your account here is a plan. Start selling covered calls. You have enough stock to sell two. You should be able to net a few dollars while you wait. I would sell the 17 May 75 strike if I could get someone to pay .50. With two option contracts this will get you 100.00 minus commissions. This will get you some basis reduction. If the stock moves over 70 start selling the 80 calls. Keep selling the calls until you are called out over your basis or until you are ready to sell the stock.
     
    #53     Apr 20, 2019
    murray t turtle likes this.
  4. %%
    Sell something...……………………………………………...Wisdom is profitable to direct
     
    #54     Apr 21, 2019
  5. I don't have anything to sell.

    Yes, though, it would be potentially profitable for the OP to sell calls against the stock to reduce his basis so that he can come to profit sooner or get out with a smaller loss.
     
    #55     Apr 21, 2019
    murray t turtle likes this.