$SoFi Technologies (SOFI.US)$ so here's my suggestion to tho...
$SoFi Technologies(SOFI.US$ so here's my suggestion to those that want to buy the stock. if you think there's going to be more backing and filling where it's going up and down a few cents and you're trying to time the bottom if you will which never tends to work if you are options savvy and let me qualify it that way. there's weekly options that expire on Sophie and May 3rd is this Friday you could sell a $7 strike put right now and collect 16 cents doesn't sound like a lot but if you were to sell 10 contracts that's equivalent of buying a thousand shares you would collect $160 you can sell it on the S2 you probably can make 170 cuz it's 16 cents bid 17 cents offer. but let's suppose you just sell it on the bed 16 cents and let's suppose that Friday at 4:00 the stock is anywhere is above $7.03.04 you do not own the stock you kept that premium it's free money to you let's suppose Friday at 4:00 the stock is $6.99 or lower you will get put the stock so on 10 contracts you would need to have $7,000 in your account and now you own so far at $7,000 less than buying it in today's market right this second minus the premium that you collected $16 so your cost basis would be 6.84. so that would be my suggestion rather than just buy it in the open market right this second sell a put your risk is less than owning the stock right now in the open market if the stock goes to zero which it's not right now you'd lose $7.12 or $7,125 on 1000 shares your risk of ownership Friday would be if it's less than $7 you own it at 7:00 plus you collected the premium.
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35+ yrs in the trenches, raised tens of millions for start ups, syndicate ipo's, yrs on trading desk mkt maker.
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102400752 : Hold until 10 plus
102400752 : Not tonite for sure
10baggerbammOP 102400752: well it certainly your choice the way I look at it all the news is in the market the stock got flushed now they're going to have a conference call the CEO is going to be on TV I think you're probably going to see an upgrade coming on the stock in the next couple of days because this company just like all traditional Banks is very very dependent upon interest rates and I can assure you that if rates were 100 basis points lower their refinance business would be up 100% over where it is right now at least a hundred if interest rates go down 200 basis points 2% they will have a 200 plus percent probably closer to 300% increase in refinancing it's all found revenue to the company and it goes right to the bottom line profits
102400752 : all the asian markets are saying interest rates cut on 2H 2024... so it is a gamble
10baggerbammOP 102400752: well it is the stock market and a lot of people describe it as the world's largest casino so of course everything is a gamble isn't it? the general rule of thumb is you want to be in something before the rate cut so if you think the rate cuts coming in September you want to be in it a month before because other institutions are going to begin to gamble and bet and accumulate stock before the rate cut and then I'll tell you this once there is a quarter point rate cut then people are going to go is that it well what good is a quarter point are we going to get any more we're probably not going to get anymore it's going to be the same wash rinse repeat bullshit from these bobbleheads on TV and a year from today interest rates will be down 100 basis points or 150 basis points