Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,091
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Post by Dave on Aug 21, 2020 2:34:47 GMT -8
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,091
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Post by Dave on Aug 21, 2020 2:42:30 GMT -8
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,091
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Post by Dave on Aug 21, 2020 2:54:17 GMT -8
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Post by artman1033 on Aug 21, 2020 3:22:24 GMT -8
AAPL ALL TIME HIGH!$499.47All Time Highest TODAY intraday 81,892,259
shares traded today +$2.129 TRILLION
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JDSoCal
Member
Aspiring oligarch
Posts: 4,182
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Post by JDSoCal on Aug 21, 2020 5:48:04 GMT -8
Nice to see Artman with the confidence of someone doing a crossword puzzle in pen, with an ATH post in the pre-market.
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Post by artman1033 on Aug 21, 2020 5:53:48 GMT -8
Nice to see Artman with the confidence of someone doing a crossword puzzle in pen, with an ATH post in the pre-market. I have noted that if I wait until the end of the day, my MINIONS will wonder about my health. zounds!up 2% at the open? must be buying!
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4aapl
Moderator
Posts: 3,622
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Post by 4aapl on Aug 21, 2020 5:53:49 GMT -8
AAPL and TSLA manage to pull the indexes and part of the market into the green, whether they like it or not.
$483! That $500 level is getting closer and closer. Heck of a climb from the March 23rds intraday low of $212.
That's even a crazy climb from the Feb 12th intraday ATH of $327.
Thanks AAPL!
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coma
Member
Posts: 522
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Post by coma on Aug 21, 2020 6:07:12 GMT -8
I'm liking the action this morning, if it closes above $476.50, I have made my first million from a stock purchase about 20 years ago . . .
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Post by osx10 on Aug 21, 2020 6:11:29 GMT -8
I posted questions earlier in the week about how exactly the split was going to work. Found this on the Apple Investor page - I should have checked that first From Apple site -- What happens if I buy or sell shares on or after the Record Date and before the Ex Date? If you sell shares on or after the Record Date (August 24, 2020) but before the Ex Date (August 31, 2020) you will be selling them at the pre-split price. At the time of the sale, you will surrender your pre-split shares and will no longer be entitled to the split shares. Following the split, the new owner of the shares will be entitled to the additional shares resulting from the stock split. If you buy shares on or after the Record Date but before the Ex Date, you will purchase the shares at the pre-split price and will receive (or your brokerage account will be credited with) the shares purchased. Following the split, you will receive (or your brokerage account will be credited with) the additional shares resulting from the stock split. If I am reading this properly, it looks like the "Record" date really doesn't mean much.
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Post by hyci004 on Aug 21, 2020 6:20:10 GMT -8
Gosh, I can’t imagine why things are so lighthearted around here . It’s going to be hard to wait until September to see the actual impact of the split. Anyone want to guess the closing price on August 30? $475. Ding ding ding! Winner! My prediction back on July 31st after earnings.
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chinacat
Moderator
AAPL Long since 2006
Posts: 4,426
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Post by chinacat on Aug 21, 2020 6:25:07 GMT -8
Who wants to guess what the first post-split price will be? With a whole month to go, could it possibly be $125? With a week to go, it’s looking very possible. Now the question is, will there be a round of profit taking? The increase in share count could make some folks feel that it could be less risky to sell a few shares. We’ll be standing pat - fat, dumb and happy.
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chinacat
Moderator
AAPL Long since 2006
Posts: 4,426
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Post by chinacat on Aug 21, 2020 6:34:22 GMT -8
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4aapl
Moderator
Posts: 3,622
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Post by 4aapl on Aug 21, 2020 6:48:12 GMT -8
I posted questions earlier in the week about how exactly the split was going to work. Found this on the Apple Investor page - I should have checked that first From Apple site -- What happens if I buy or sell shares on or after the Record Date and before the Ex Date? If you sell shares on or after the Record Date (August 24, 2020) but before the Ex Date (August 31, 2020) you will be selling them at the pre-split price. At the time of the sale, you will surrender your pre-split shares and will no longer be entitled to the split shares. Following the split, the new owner of the shares will be entitled to the additional shares resulting from the stock split. If you buy shares on or after the Record Date but before the Ex Date, you will purchase the shares at the pre-split price and will receive (or your brokerage account will be credited with) the shares purchased. Following the split, you will receive (or your brokerage account will be credited with) the additional shares resulting from the stock split. If I am reading this properly, it looks like the "Record" date really doesn't mean much. Yep, and nope. Places need time to record things. It matters a lot more on a dividend, and in the money calls sometimes get called at just the right point for someone to snag the dividend. But for most normal investors, it doesn't matter much. I posed this back on the 13th: My broker had a message for me about the upcoming AAPL stock split. For those that haven't been through this before, this helps answer some potential questions:
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JDSoCal
Member
Aspiring oligarch
Posts: 4,182
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Post by JDSoCal on Aug 21, 2020 6:55:35 GMT -8
I posted questions earlier in the week about how exactly the split was going to work. The correct answer is, $AAPL will go up five-fold like it did after the last split.
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4aapl
Moderator
Posts: 3,622
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Post by 4aapl on Aug 21, 2020 6:58:34 GMT -8
LOL!
$490!
Well, I did my part. In scouting for Sept '22 covered calls at $750+, I saw that for today's expiration the strikes go all the way on up to $900! But then I drifted downward, and found that the 495's were selling for 33 cents, while the stock was around $483. I wrote a few for maybe 35 cents, and then a few more in a different account for 55 cents or so.
I don't think AAPL will close above $495 today, but at this point I wouldn't make a big bet against it. If I miss out on a little because that $495 was too low, I'll regret it a little but it will also be at the end of the biggest daily dollar gain ever. I'll manage to not mind much.
Go AAPL! Now nearly brushing $493. Wow
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Post by lulli on Aug 21, 2020 7:01:03 GMT -8
Is a short squeeze doing all this, or is it those robinhood people? Or is it the multiplier being reset because "real" investors are willing to finally value aapl differently?
I am not complaining, but questions do pop up while I collect my jaw from the floor....
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Post by podboy on Aug 21, 2020 7:23:52 GMT -8
I've made my first million today. I invested $55K (my entire net worth in 2012 @ 26) all into AAPL. Sometime in 2014 when AAPL was had a PE ratio in the low teens I converted all my common into LEAPS. Rolled my deep in the money LEAPS every two years. Rinse Repeat. To give you an idea how DITM my LEAPS are I own Jan21 75 calls now. You can't get any deeper in the money than that. I write 'covered calls' each week against my position and net ~$500 each week. My initial investment of $55K is now paid for via writing covered calls and my $1M is "free". Thanks Tim, Steve & all on this board who've made this possible.
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Post by osx10 on Aug 21, 2020 7:51:40 GMT -8
Anything been heard from Andy Zaky lately?
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Post by dc930 on Aug 21, 2020 9:18:21 GMT -8
I've made my first million today. I invested $55K (my entire net worth in 2012 @ 26) all into AAPL. Sometime in 2014 when AAPL was had a PE ratio in the low teens I converted all my common into LEAPS. Rolled my deep in the money LEAPS every two years. Rinse Repeat. To give you an idea how DITM my LEAPS are I own Jan21 75 calls now. You can't get any deeper in the money than that. I write 'covered calls' each week against my position and net ~$500 each week. My initial investment of $55K is now paid for via writing covered calls and my $1M is "free". Thanks Tim, Steve & all on this board who've made this possible. I've written covered calls a bit in the past, to make a little extra. At this point I'm considering writing some calls closer to the money because if the shares get called away, I am happy to sell (a portion of my position) at this price. Do a lot of folks here write covered calls? Would you be disappointed if your shares were called away?
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bud777
fire starter
Posts: 1,352
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Post by bud777 on Aug 21, 2020 9:42:10 GMT -8
Be sure that you have thought through the tax consequences of being called away. Believe me, the tax hit on a million dollar capital gain can ruin your day.
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Post by dc930 on Aug 21, 2020 9:44:48 GMT -8
Be sure that you have thought through the tax consequences of being called away. Believe me, the tax hit on a million dollar capital gain can ruin your day. Good point! That actually happened to me about 7 years ago. Won't make that mistake again. In this instance I would be selling calls in my IRA accounts, which avoid the tax issue.
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Post by hledgard on Aug 21, 2020 9:58:01 GMT -8
Nice to see Artman with the confidence of someone doing a crossword puzzle in pen, with an ATH post in the pre-market. Great line !
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4aapl
Moderator
Posts: 3,622
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Post by 4aapl on Aug 21, 2020 10:02:12 GMT -8
I've made my first million today. I invested $55K (my entire net worth in 2012 @ 26) all into AAPL. Sometime in 2014 when AAPL was had a PE ratio in the low teens I converted all my common into LEAPS. Rolled my deep in the money LEAPS every two years. Rinse Repeat. To give you an idea how DITM my LEAPS are I own Jan21 75 calls now. You can't get any deeper in the money than that. I write 'covered calls' each week against my position and net ~$500 each week. My initial investment of $55K is now paid for via writing covered calls and my $1M is "free". Thanks Tim, Steve & all on this board who've made this possible. I've written covered calls a bit in the past, to make a little extra. At this point I'm considering writing some calls closer to the money because if the shares get called away, I am happy to sell (a portion of my position) at this price. Do a lot of folks here write covered calls? Would you be disappointed if your shares were called away? There's at least a few of us that do it sometimes. Like you, these days I am viewing it as a little protection agains the downside, especially as my wife says that I'd be kicking myself if AAPL fell hugely again. Truthfully, even a portfolio drop of 85%, which I have experienced 3 times through the magic of margin and/or options, wouldn't affect our lifestyle, even if we weren't just living off the dividends. At the same time, if it helps someone sleep better at night, while solidifies that yes we can more than pay for little improvements here and there, then it is worth it. A double from here, or a halving from here, won't change how I sleep at night. Aside from maybe some more tropical air or something. But, I've seen and read the results of people getting to complacent. Sometimes it's not too bad, like my grandma owning MSFT for decades, both for the huge upside, but then for a flat or slightly downward decade or two. But I now get the pleasure of seeing a couple accounts, not previously owned or advised by me, where the glimmer of gold profits made one some huge profits (at least a couple doubles), but then a 98% loss over the next 12 years. If I diversify 20%, then even if AAPL somehow went to zero in short order, we'd still have more than enough for our lifetime. It might not be for everyone, but I wouldn't want to pull a Gregg because I was too focused on where I want AAPL to go. (and I say that as being decently leveraged at the same time as he was, but being slightly more cautious) As I've said before, I'm looking at writing covered calls at a bit over a 20% annualized return, normally adding in an extra 10% total. Using Sept '22, that makes for a 61% increase, or from $500 a price of $806. Those options aren't available yet, but they will be. That does seem on the greedy side, at a 25.5% annualized rate, plus a dividend. But, I'd be happy to take $20-$30 a share now for that, and would manage to struggle through if AAPL gained more than that and I had to sell at "only" a 61% gain from the $500 level. AAPL has been one of those rare unicorns that has gone up so hugely that nearly any time in the past was an amazing time to buy it. As such, nearly any time that shares were sold, it was a bad choice overall. OTOH, it's a risk/reward choice, along with portfolio allocation and life allocation. Taking a little off the table can be worth it, or at least that's what I have to tell myself when I think about what the shares of AAPL would be worth that I bought our houses with. Enjoy it! AAPL doesn't always just go up, but it sure feels like it sometimes. This ride has been exhilarating!
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JDSoCal
Member
Aspiring oligarch
Posts: 4,182
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Post by JDSoCal on Aug 21, 2020 10:03:53 GMT -8
Is a short squeeze doing all this, or is it those robinhood people? Or is it the multiplier being reset because "real" investors are willing to finally value aapl differently? Stocks are driven by sentiment and momentum. And right now, there is a flight to safety pointing both towards good tech stocks. Apple showed it can not only survive covid, but beat the street.
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4aapl
Moderator
Posts: 3,622
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Post by 4aapl on Aug 21, 2020 11:02:07 GMT -8
LOL! $490! Well, I did my part. In scouting for Sept '22 covered calls at $750+, I saw that for today's expiration the strikes go all the way on up to $900! But then I drifted downward, and found that the 495's were selling for 33 cents, while the stock was around $483. I wrote a few for maybe 35 cents, and then a few more in a different account for 55 cents or so. I don't think AAPL will close above $495 today, but at this point I wouldn't make a big bet against it. If I miss out on a little because that $495 was too low, I'll regret it a little but it will also be at the end of the biggest daily dollar gain ever. I'll manage to not mind much. Go AAPL! Now nearly brushing $493. Wow Hmmm, looks like I could be selling a few shares today. It's been a fun ride. While some here are making less, and some here are making more, it's all from the same daily move that we get to enjoy together. $496! Now $497! Do I hear $500? We've still got an hour left in today's high priced auction
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Post by plcm123 on Aug 21, 2020 11:05:05 GMT -8
Wow Apple market cap reaches 2.125 Trillion! 3T doesn't seem quite a stretch now, big congrats to longs!!!
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Post by dmiller on Aug 21, 2020 11:07:33 GMT -8
LOL! $490! Well, I did my part. In scouting for Sept '22 covered calls at $750+, I saw that for today's expiration the strikes go all the way on up to $900! But then I drifted downward, and found that the 495's were selling for 33 cents, while the stock was around $483. I wrote a few for maybe 35 cents, and then a few more in a different account for 55 cents or so. I don't think AAPL will close above $495 today, but at this point I wouldn't make a big bet against it. If I miss out on a little because that $495 was too low, I'll regret it a little but it will also be at the end of the biggest daily dollar gain ever. I'll manage to not mind much. Go AAPL! Now nearly brushing $493. Wow About where it’s going to close? I don’t think that’s going to age well 🙂
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Post by dmiller on Aug 21, 2020 11:10:08 GMT -8
Is a short squeeze doing all this, or is it those robinhood people? Or is it the multiplier being reset because "real" investors are willing to finally value aapl differently? Stocks are driven by sentiment and momentum. And right now, there is a flight to safety pointing both towards good tech stocks. Apple showed it can not only survive covid, but beat the street. The flight to safety has to be a significant part of this. Same thought occurred to me a few weeks ago. (Or maybe it was months - the way that time works is a funny thing now)
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Post by hyci004 on Aug 21, 2020 11:11:56 GMT -8
Apple is the first company to be $900B away from having a $3 trillion market cap.
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Post by Odd-Lot Richard on Aug 21, 2020 11:18:19 GMT -8
Gregg, Zaky, a lot of names being thrown around that I haven’t heard in a while! Love my iPad, Phoebear, Red-shirted (!) Ensign, all those guys, I hope they’re doing well. Speaking of which, A few years ago, when Gregg was still here (or maybe it was on another board), we had a long discussion about when to sell .. specifically at what P/E (he always called it something else, but I can't recall now). (Gregg called it ISM, Investor Sentiment Multiple, at least one theAAPLInvestor. I thought Blue Herring had a name for it too, but it did come up that by being based on investors rather than just the figures in it's ratio, it really depended on how people felt about the company and the whole market. I’m pretty sure Gregg used ISM on this board (or rather, one of its previous incarnations) as well, because I never visited the other boards you mentioned and it immediately came to mind. Re: covered calls—I sold one (1!) in a retirement account just before earnings, dumbass that I am, to hedge against what I figured would be a little downside or at least in-line results and the sentiment that would result. Luckily I woke up early enough to buy that back at a fairly reasonable rate. Between the post-earnings IV drop and can’t-believe-it slow hands in the options market, I only lost a little less than a thousand on that, while seeing more than $10,000 upside. I was so astonished the premium on the option rose so slowly in comparison to the underlying, I almost thought to let it ride and buy it back later when bullishness faded. Whew!
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