I have been selling ATM puts in SPCE, Virgin Galactic, since October 31. I now own 100 shares and have collected enough premium to make my price point $5.78 per share.
WOW! What the heck happened at the end of November that caused it to crash?
Sector: Electronic Technology
Industry: Aerospace & Defense
Virgin Galactic Holdings, Inc. operates as a holding company, which engages in the business of owning and operating privately built spaceships. It designs spaceships which can fly anyone to space safely without the need for expertise or exhaustive time consuming training. The company develops passenger carrying manned spacecraft. The company was founded on May 5, 2017 and is headquartered in Las Cruces, NM.
I'm looking at this as a long hold in my ROTH. Get 100 shares for $578 and in 20 years hope it takes off :-) .
Wxgrant with the pull back Friday are you looking to sell any puts?
If it pulls back closer to $10 I will look at puts. I’m happy with my price point. I think there is a good chance this drops bellow $10 as it is very volatile.
Well, this just keeps going up. I have been selling puts when it drops and buying back when it goes up. My price point is now $2.55 a share. I have been trying hard to get my price point to zero. There is still a lot of premium available on puts so hopefully I will reach my goal in two months.
Hello Grant I was wondering are you selling calls? or what your strategy is. Thanks in advance
I have been selling puts and calls. I have one call left and if SPCE stays above $25 my shares will be taken away, I had 200 shares. I will sell a put again if that happens. There appears to be a lot of support around $20 so most of the puts I have sold have been around that price point. There is a lot of premium thanks to how volatile the stock is. The plan is to hopefully get the stock called away and then sell an in the money put to get put the stock. I have collected enough premium to where a $30 put would get me 100 shares for free, based on today's options. I'll have to look again in 3 weeks when my call expires.
sooner or late the "everything bubble" gets exhausted.
But this has to drop very far for me to lose. As long as it stays above $3 a share I'm good. Yes $3. Of course it could go farther down, I'm still selling puts and making a profit from them. Very high premium thanks to the Volatility.
Climbing Everest has risk and is expensive; having a healthy ego is good.
Flying into space for a short $mm 'thrill ride'?; Orlando has 'space mountain'.
What I am excited about is if they can do the supersonic travel they have planned. Imagine flying from New York to London in about an hour. New York to LA in under an hour. That is where this could be a very exciting company in 15 years. Sure I will never be able to afford the ticket probably but there are those who can.
Yes! Imagine how much more quickly we can spread viruses with supersonic travel! LOL!
Seriously, I don't think the human race is prepared for the spread of disease as we are now witnessing with Covid-19. World travel has become way to easy (I'm just as guilty as the next guy), and medical technology has trouble keeping up with things like this.
Congrats on your trades. Very gutsy, and it looks like it will pay off!