Maybe I am in over my head now

Water Cooler Investing
#182

Hope you got out before today.

#183

I had a good chunk of my pos called away. My PLTR pos is now 1,000 shares @ $32.48

Iā€™m obviously going to buy more.

#184

#185

Please tell me you sold and didnā€™t buy more

#186

When you say ā€œposā€, thatā€™s short for position, right? I thought it was an acronym for something far more colourful. :flushed:

#187

Huh? You mean that new data company thatā€™s fighting terrorism? Yeah I bought more.

2,300 shares ā€”> $30.50 cost basis.

#188

@CEO10K-DAY : give us all an update on your positions. Iā€™m pretty sure noone on WC has been able to follow your portfolio.

#189

Xx

#190

Xx

#191

Aiyyyyeeā€¦at least tell me you sold some calls against it and recouped some of that loss

#192

lol you guys ever buy a stock that went down? I donā€™t know about you but Iā€™m not usually selling calls against positions that Iā€™m long term bullish on. Not necessarily supporting pltr, but just sayin.

1 Like
#193

Currently sitting at:
Ticker --> Quantity
TSLA --> 200
PLTR --> 2300
JMIA --> 300

I was selling calls on my TSLA for the last month. But now theres no point because the option premiums have fallen. So #HODL

#194

Hey also question, are there any potential tax benefits if I gifted stock to my buddies?

#195

I think this would be a question for our bro @Greenman72!!! :man_office_worker:

#196

I donā€™t really mess with options atm. But I can imagine a scenario where you bought a stock for its dividend and it appreciated in value and you donā€™t think itā€™s going to grow much further. So you collect both the dividend and the call premiums while you wait for your position to be called. So the sold call position is essentially a sell order for the stock.

#197

As far as I understand youā€™d be subject to gift tax limits. Not sure if thereā€™s any tax benefit other than you donā€™t have to pay taxes on gains, since you wonā€™t own the stock anymore.

1 Like
#198

^Thatā€™s pretty much it. You can give $15k per year to anyone in the world, but if you go over that, you have to file a 709 (Gift tax return) which eats up your Lifetime Gift & Estate Tax exclusion.

That said, when I say ā€œYou can give $15kā€, that means ANYBODY can give ANYBODY $15k. So you can give $15k to him, your wife can give $15k to him, you can give $15k to his wife, and your wife can give $15k to his wife. So a married couple can effectively give $60k to another married couple.

Another note - thatā€™s MARKET VALUE of the stock, not the basis. So if you bought $1000 worth of Gamestop and gave it away at $15,000, youā€™re giving away $15,000, not $1000.

Of course, you would never give away depreciated stock. Youā€™d sell it and give away the cash, right? So if you bought Gamestop for $15,000 and itā€™s now worth $1000, youā€™d want to sell it, recognize the $14,000 loss, and give them cash. (Or a different appreciated stock.)

Same thing when it comes to charity. Always give away appreciated stock. Never give away depreciated stock.

ā€œBut Greenieā€“I like Gamestop. I think my $15,000 is going to be worth $100,000 pretty soon!ā€ Great! Give it away at $15,000, buy it back immediately at $15,000, then when you sell it at $100k later, you recognize an $85k gain instead of a $99k gain!

Nowā€“give me your address so I can send you a bill.

1 Like
#199

hows it going fam?

#200

Hahaā€¦ unsubscribe.

#201

I hate how my retardedness is going to be cemented into the internet forever via this site.