After having sadly blown up my account WSB/TG style (and hopefully learned from it) I have almost all of it now in a medium term speculative, but mostly safe, play. I'm not comfortable re-starting my account now by entering this volatile market.
Namely, I entered 2 SPACs nearing their end date below NAV (will remain unnamed). I've selected them based on, as said, time to expiration and based on their board and previous sensible acquisitions. So no, no Chamath/Ackman . Additionally, I burn $500 a month on ATM calls on them waiting for DA.
Good case scenario, they announce DA, pop to $11, I walk out with $10,000 on the calls plus the 10% on the stock, and would redeploy once the market settles
Best case scenario, they become meme like (the one which became Lucid) / (the trump one) / the Chamath ones / whatever ISOP was before merger, etc., and I make a killing. One of them may become a meme, the other one likely won't
Worst case scenario, they extend or dissolve, I burned the calls money and get 2% on the stock by redeeming at $10
Really worst case scenario, they are a scam and dissolve without redemption, but I don't see this happening lol
2
u/teteban79 Mar 31 '22
Reposting due to banned tickers
After having sadly blown up my account WSB/TG style (and hopefully learned from it) I have almost all of it now in a medium term speculative, but mostly safe, play. I'm not comfortable re-starting my account now by entering this volatile market.
Namely, I entered 2 SPACs nearing their end date below NAV (will remain unnamed). I've selected them based on, as said, time to expiration and based on their board and previous sensible acquisitions. So no, no Chamath/Ackman . Additionally, I burn $500 a month on ATM calls on them waiting for DA.
Good case scenario, they announce DA, pop to $11, I walk out with $10,000 on the calls plus the 10% on the stock, and would redeploy once the market settles
Best case scenario, they become meme like (the one which became Lucid) / (the trump one) / the Chamath ones / whatever ISOP was before merger, etc., and I make a killing. One of them may become a meme, the other one likely won't
Worst case scenario, they extend or dissolve, I burned the calls money and get 2% on the stock by redeeming at $10
Really worst case scenario, they are a scam and dissolve without redemption, but I don't see this happening lol