I dunno, man, but I feel like a genius for getting out of ARKK on the dead cat bounce at $136. (Would have felt like more of a genius if I got out at $156, but c'est la vie.)
I'm with you.
-42% from when i purchased. Consistent with the rest of my portfolio.
Imagine that, boring summer and fall energy, hospitality materials, and industrials buys smoking out the frothiest froth fall. Nibbling on perceived oversold quality, added new TA, and even added some ARKG today. Still haven't pulling trigger on SPY, QQQ nor TSLA puts
So you think ARKG is going to rebound, yet TSLA is going to continue to lose more than a third of its recent ath? The overall market and sectors are calling the shots right now. They won't diverge.
Nah, not immediately simply note differences between a not as frothy genomics ETF versus an uber frothy battery and tech vehicle company also held in uber frothy ARRK BUT NOT included in ARKG. Yup, compelling reasons existed when buying TSLA puts; not exercised yet. ARKK avg share price = $51, but timing of purchases and being flat for the week influences LT perspective.
perhaps ARKG goes down 5% and TSLA 6% or ARKG goes up 4% and TSLA only 3%. But no way in this climate does ARKG go up 4% and TSLA down 6%. Won't happen, everything is essentially moving with the market except to different degrees per sector and amount of early year pump. The only spread would be one rebounding quicker and harder, or vice versa. There are much bigger forces at play right now. Save oil excelling today and cruiselines being impervious thus far until today's big dumping.
Had a buy order trigger today for SENS @ $2 limit. Forgot all about it bc I put it in when it was up around $5.
Yup, except massive differences exist with recent, initial ARKG buys at prices down about 25% for the year (biggest before noon at $78.80). By contrast, hanging on to ARKK and TSLA bought last April ($51 avg & $148 avg). And, haven't exercised TSLA hedges > $850 yet. Date & prices of respective buys and LT perspective vs day trading acknowledged, reasonable differences exist. That's OK.
So after more thought, you'd essentially be hedging you ARKG shares with tesla puts. Market goes up, your ARKG shares look good, but your TSLA puts likely won't hit. Market goes down, your TSLA puts hit, and you go long with your ARKG shares. I can get on board with that.
Even simpler, ARKG predominantly invests in separate sectors from ARKK and other ARK ETFs AND distinctly different companies than TSLA. Different allocations of available cash. If the TSLA puts ever end up being exercised, they are intended to hedge TSLA shares and provide some ARKK hedge. No direct relation to ARKG. Currently, no specific ARKG hedge exists on brand new buys. QQQ/SPY and low stop limit I guess if ALL US mkt caps and sectors actually implodes at some point.
If it works that they diverge in the next month in opposite directions I will buy you a Uconn's game worth of beer if we can ever go to games again. I'm telling you you will see similar charts like posted above regardless of their substance. It's as simple as that. Look at their charts over the last 3 months. You're thinking of it like we're not in a pandemic market.
Yeah, I've been DCA'ing like crazy as I was 1/2 cash before the bubble popped. If we don't get a good stimmy / re-opening bounce back, then I'll revert to long-holding. I rarely sell for losses, I'm too stubborn.
My problem this week was I had maxed out my funding into stocks and had no cash on hand. I wanted to buy substantially more $ SENS. Maybe another dip will occur before the FDA clearance.
What would be your strategy buying calls on SENS with a 3-19 strike of either $2.50 or $3? The $2.50 strike is .40 and the $3 dollar strike is .25 (both on the ask if not mistaken). After hours it was trading up to around $2.69 (after the CEO confirmation) so it looks like it will open higher putting the $2.50 in the money or above strike in the first 15 mins of trading.
Hope everyone is doing well.
To be fair, it's reasonable you may be unaware of what I (or others) believe regarding the current status of the SARS-2 virus in the US vs in other nations globally. Similarly, my perspectives on diverse sectors, various markets and respective impacts, risks and opportunities several months to a year+ down the road. Likewise, most posters and I have minimal direct insights to really know or to accurately understand your individual perspectives.
ARKG -4%, TSLA -5% Hope you only went with the TSLA puts! Well played if so.