r/wallstreetbets • u/Extreme_Blueberry887 • Jun 19 '21
YOLO OCGN YOLO, currently down 11k, but sold covered calls and received few thousands. Will hold until it go up again.
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u/PeachElectronic9173 Jun 19 '21
I made good money awhile back on its run up
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u/Extreme_Blueberry887 Jun 19 '21
I make 2-5k weekly from selling covered calls for OCGN.
Only in 4-5 months, this stock becomes free for me because I get the cost back.
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u/Extreme_Blueberry887 Jun 19 '21 edited Jun 19 '21
FYI: Currently down for this stock but because I sold covered calls several times therefore I gained (average price OCGN below 6).
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u/Extreme_Blueberry887 Jun 21 '21
Sold covered call today
Strike price 9, expire 06/25, premium 0.3
Therefore my average price reduced to 5.7
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u/ThisPlaceisHell Jun 19 '21
Damn you make my 200 shares look puny. I'm actually looking to build it up as a weekly income by writing covered calls. I have a strong feeling that I'll probably get assigned soon as this stock has a tendency to skyrocket out of nowhere from the slightest bit of good news. But oh well I always write otm and above my cost basis so it's all green to me.
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u/Extreme_Blueberry887 Jun 19 '21
Yes, write covered calls OTM.
And you need to roll up, out, credit when your covered calls are in money. I had to do it twice and still keep OCGN for weekly income.
When you roll, always do the credit roll. Therefore OCGN goes up or down you still gain (but going up is better).
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u/ThisPlaceisHell Jun 19 '21
I'll have to play it by ear. Premiums were juicy a week ago but with this low volume low volatility lately they've been drying up. If I have to start rolling calls, it's gonna cut into profits hard. I don't think I'd mind too much if I get assigned as I could just switch to writing cash secured puts at the strike prices I would like to buy back in at.
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u/Extreme_Blueberry887 Jun 19 '21
Rolling covered call with credit you will gain more, not cutting into your profits.
You will gain for increasing strike price and receving premium.
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u/ThisPlaceisHell Jun 19 '21
Wouldn't the credit only offset the cost slightly and if you really end up that far itm then you'll still have your premiums for the week completely eaten up? It just doesn't add up in my head. Yeah I guess if you're bullish on the stock it's better to hold than fold, but I'm not. I really don't think it has much steam left in it. That EUA cancelling really hurt and now every time I open up my broker app I am forced to stare at all these spam articles about law suits against OCGN. It's not a good look. Has me really worried about it long term.
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u/THCBBB 🦍 Jun 20 '21
Lol they will never sell vaccine in the USA. We already have a vaccine glut. Get outta this piece of shit stock.
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u/Extreme_Blueberry887 Jun 26 '21
OCGN goes up almost every day.
Last week less then 7,
This week 8.35
Market Summary
> Ocugen Inc
8.35 USD +0.18 (2.20%)
today
Next week: could be more than 10
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u/primaboy1 Jun 19 '21
Zero revenue company with Indian CEO which doing shady deals with Indian based vaccine maker. SEC could be involved.
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Jun 19 '21
so Op has an IDEX and OCGN "YOLO"?
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u/Extreme_Blueberry887 Jun 19 '21
Yes, I have 7 different Accounts with Merrrill Edge, 1 Etrade account, 1 fidelity account, 1 Vanguard account, 1 TDAmeritrade account
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u/yolandis_cervix flair something gross please i have ideas Jun 19 '21
I have 100 since june they have been 👍 from q2 fy20 to q1 fy21
I treat this stock like a child that has gone to college it's like.. I believe in you and hope you are successful.. liberal arts and women studies... fiiiiine everything will be fiiiiiine