Stock Crew 2008: Confucius says: An outgoing tide lowers all boats 🤿🛟🚣‍♂️

[993kgt]

I'm hedging for a disappointing Thursday CPI print

I hope you guys take some insurance moves too

 

[jaspirr]

I'm hedging for a disappointing Thursday CPI print

I hope you guys take some insurance moves too

we should all be hedging regardless of the CPI print because the market is up 4 days in a row for no reason

 

[michael]

we should all be hedging regardless of the CPI print because the market is up 4 days in a row for no reason

wait wait wait..

you say the market constantly drops for no reason........it cant be up for no reason??

 

[stevezissou]

 

[stevezissou]

I'm hedging for a disappointing Thursday CPI print

I hope you guys take some insurance moves too

 

[993kgt]

I'm in the other boat, I'm having to liquidate six figures to pay a tax payment before jan 13

 

[stevezissou]

I'm in the other boat, I'm having to liquidate six figures to pay a tax payment before jan 13

I hear you, scheduled my 4th quarter estimated payment yesterday as well.

 

[AndyP]

spy calls soooolllld

 

[993kgt]

I hear you, scheduled my 4th quarter estimated payment yesterday as well.

I put every tax withholding last year into SWPPX.....I'm down about 4.65%

I think rather than eat that loss, I'm going to instead sell some green positions I have in my taxable account (AAPL, MSFT, CME), and then replenish them with the SWPPX shares, so basically in that move I'm getting out of more single stock positions that have been longer term winners, and getting those proceeds into SWPPX instead

another thought is to sell the SWPPX funds, eat the -4.65% loss, and then buy a ATM call option for equivalent amount of VOO/SPY in about 6 months

then I feel better about things, but this would be a short term gain, and taxed, I think if I keep the shares and sell my individual positions, it will be locking in shares that are going long, so I like that idea better

decisions decisions

 

[stevezissou]

I put every tax withholding last year into SWPPX.....I'm down about 4.65%

I think rather than eat that loss, I'm going to instead sell some green positions I have in my taxable account (AAPL, MSFT, CME), and then replenish them with the SWPPX shares, so basically in that move I'm getting out of more single stock positions that have been longer term winners, and getting those proceeds into SWPPX instead

another thought is to sell the SWPPX funds, eat the -4.65% loss, and then buy a ATM call option for equivalent amount of VOO/SPY in about 6 months

then I feel better about things, but this would be a short term gain, and taxed, I think if I keep the shares and sell my individual positions, it will be locking in shares that are going long, so I like that idea better

decisions decisions

wash sale rules bro

"

Buying Call Options​

If you sell stock at a loss, you’ll have a wash sale (and won’t be able to deduct the loss) if you buy substantially identical stock within the 61-day wash sale period consisting of the day of the sale, the 30 days before the sale and the 30 days after the sale. You’ll also have a wash sale if, within the wash sale period, you enter into a contract or option to buy substantially identical stock.

Example: On March 31 you sell 100 shares of XYZ at a loss. On April 10 you buy a call option on XYZ stock. (A call option gives you the right to buy 100 shares.) The sale on March 31 is a wash sale.

It doesn’t matter whether the call option is in the money. This is an automatic rule. If you buy a call option in this period, you’ll have a wash sale. And that’s true even if you never exercise the option and acquire the stock."

Wash Sales and Options - Fairmark.com

Options present two different types of problems in connection with the wash sale rule. First, if you sell stock at a loss, you can turn that sale into a wash sale by trading in options. And second, losses from the options themselves can be wash sales. Buying Call Options If you sell stock at a …...

fairmark.com

 

[993kgt]

wash sale rules bro

"

Buying Call Options​

If you sell stock at a loss, you’ll have a wash sale (and won’t be able to deduct the loss) if you buy substantially identical stock within the 61-day wash sale period consisting of the day of the sale, the 30 days before the sale and the 30 days after the sale. You’ll also have a wash sale if, within the wash sale period, you enter into a contract or option to buy substantially identical stock.

Example: On March 31 you sell 100 shares of XYZ at a loss. On April 10 you buy a call option on XYZ stock. (A call option gives you the right to buy 100 shares.) The sale on March 31 is a wash sale.

It doesn’t matter whether the call option is in the money. This is an automatic rule. If you buy a call option in this period, you’ll have a wash sale. And that’s true even if you never exercise the option and acquire the stock."

Wash Sales and Options - Fairmark.com

Options present two different types of problems in connection with the wash sale rule. First, if you sell stock at a loss, you can turn that sale into a wash sale by trading in options. And second, losses from the options themselves can be wash sales. Buying Call Options If you sell stock at a …...

fairmark.com

Yeah, I've done SPY calls before and it doesn't match up to SWPPX

Not saying it's right, but just saying it wasn't an issue, perhaps because it's a mutual fund vs a stock/ETF ?

EDIT: last time I did this (2022), I sold SWPPX and bought VIG calls

it was equivalent to tracking market, but not a wash sale violation

 

[stevezissou]

Yeah, I've done SPY calls before and it doesn't match up to SWPPX

Not saying it's right, but just saying it wasn't an issue, perhaps because it's a mutual fund vs a stock/ETF ?

"substantially similar" language is a catch all not sure you would win that argument if it were to get challenged.

 

[stevezissou]

@jaspirr this you?

 

[stevezissou]

 

[SkiMax]

Some buying happening into the CPI numbers tomorrow?

 

[gimpshiznit]

Some buying happening into the CPI numbers tomorrow?

lots of weird noise

 

[AndyP]

lots of weird noise

Yeah that was an unexpected rise all day. I too soon jr’d selling calls

 

[gimpshiznit]

Yeah that was an unexpected rise all day. I too soon jr’d selling calls

Tmrw is gonna be interesting. Lots of ppl I talked with today think CPI comes in under expectations…but in the same breath folks think the run up in the last cpl days fully priced it in.


No one rly knows shit tho

 

[SkiMax]

I'll have the boys on standby

 

[rcm]

@jaspirr this you?

Why is that illegal

 

[jaspirr]

final prediction for tomorrow

CPI 6.6
core CPI 5.8
rally premarket then 500 point drop by the end of the day. it's all priced in already from the last week of gains

 

[SkiMax]

final prediction for tomorrow

CPI 6.6
core CPI 5.8
rally premarket then 500 point drop by the end of the day. it's all priced in already from the last week of gains

CPI gonna surprise with a 5.99 off the top ropes and everyone going to sizzler

 

[stevezissou]

Why is that illegal

Majority shareholders still have a fiduciary duty to minority shareholders

 

[Subliminal012]

final prediction for tomorrow

CPI 6.6
core CPI 5.8
rally premarket then 500 point drop by the end of the day. it's all priced in already from the last week of gains

CPI probably come in soft, rally, then bank earnings come out friday and RIP.

 

[Menger]

Majority shareholders still have a fiduciary duty to minority shareholders

Shareholders have a fiduciary duty to other shareholders?