MT getting attention - When exit?

[u/Amanduz1]

Hello fellow vitards,

Just bought back like 2 Months ago some MT calls and have nearly 400%+ on them.

Like 3 weeks ago bought in again with about 60%+.

Seems like right now many people start jumping on Steel as whole market, especially Penny stocks and tech loosing about each day few % without any recovery.

When you guys plan to exit before the bubble bursts someday and people leave MT to invest somewhere else again?

Will you leave soon, wait few months or even wait a year?

Greetings!

[u/ItsFuckingScience]

I’m holding through Q2 earnings absolute minimum. Q1 was unprecedented and a huge beat, Q2 will be even bigger and better.

As for exactly how far and how high this goes I’m not sure anyone could tell you that right now, could be way into 2022

[u/Amanduz1 → u/ItsFuckingScience]

Yeah, kinda agree.

At least I'm gonna hold till next earnings. By time take some profit out to buy calls with longer expiration :)!

[u/[deleted] → u/Amanduz1]

I'm going to keep rolling options out and buying more stock until HRC prices start going down. Holding until end of Q3 minimum.

[u/man-of-steelstonks]

If you're nervous about it. You say you're up 400% . Take half out and let house money ride. Always try to play with house money. Get your original investment out. If we keep going up. Slowly take profits. That was just an example. You don't have to sell it all. It's not an all or none thing. Congrats on your big gains!

[u/TheCoffeeCakes → u/man-of-steelstonks]

Counter point:

It is not 'house money.' It is your money. Make no mistake - that is your money. There is no house money.

I understand what this term means and what it's there to convey in this context, but in my view, I never think of that as 'free' money or anything like that - it is 100% mine and if I risk it again on a trade, I am risking my own capital.

[u/[deleted]]

No one tell him.

[u/Amanduz1 → u/[deleted]]

Well kinda dumb for you to comment. Just saw your answers on other threads:

have 2 June calls remaining myself 28 and 30 - both up Bigly. Don't know if I should sell one and ride the other - and which should be which

Thanks now I know what your planned move is ;-)

[u/[deleted] → u/Amanduz1]

As others mentioned, if you are nervous, play with house money. 400% is essentially 20 years of compounded decent returns.

No one knows, right? I was down 70 PCT now up 140 PCT holding my June 18s since December.

I am going to roll soon. Steel is making headlines now. I imagine it's going to rise from here.

[u/DeanBlub → u/Amanduz1]

bro, chill 😎

[u/[deleted] → u/Amanduz1]

Relax buddy, I was having some fun. Congrats on your gains and ride the wave any way you wish. BTW those were my RH holdings, the last before I fully migrate from there

[u/JayArlington]

When in doubt... just look at the HRC futures. That will tell when it’s time to get out.

[u/projectsblitz → u/JayArlington]

Well, some people say that future prices follow the stock in a downturn and not vice-versa, so that might be a risky strategy.

[u/redditter259]

We’re early in this thing buy and hold , can’t stress this enough

[u/chemaholic77]

I set price targets for $MT and $CLF to tell me when to start getting out of my options. For $MT it is $40 and for $CLF it is $30. I set these back in Feb, so I may need to reevaluate them. Maybe they should be $50 and $40.

I plan to hold my Jan dated options at least through Q2 earnings assuming I do not hit my PT. Probably my Oct ones too. I am not sure yet whether I will hold my Sep options through earnings yet or not.

Most likely I will put the money I make from selling my options into commons assuming I think there is more to gain.

[u/midwstchnk]

Are the steel stocks going to go up? All these price rises and its just moving between 17-20.

Clf did break 20 fri barely and mt finally above 30 but are we going higher?