What are you buying today?

[DooDiligence]

1 hour ago, John Hjorth said:

Reinvested received dividends from both NOVO B.CPH and NVO shares into NOVO B.CPH.

 

Same

 

edit: ADR

Edited August 27, 2025 by DooDiligence

[Saluki]

Bought a little KRKNF. 

[Spekulatius]

Bought a chunk more $SW.PA (Sodexo)

[Cod Liver Oil]

More Bollore. It is putting me to sleep.

edit: More Bollore and

 

oh, more Bollore.

Edited September 5, 2025 by Cod Liver Oil

[formthirteen]

More BRO and FDS

Edited August 28, 2025 by formthirteen

[sleepydragon]

Pop mart (PMRTY)

[formthirteen]

ADBE

Edited August 30, 2025 by formthirteen
More risk, more returns 🧐

[Spekulatius]

$BNR.DE (Brenntag), BNTGY. I

Just noticed that a limit order executed on Friday for a first lot. I am scaling into the chemical distributor again. The latest results were nothing to write home about (weak volumes, so so expense controls) . New CEO , the whole spiel. 
 

I know this company well and I think it will come around but the stock may go lower short term.

[LC]

11 hours ago, formthirteen said:

ADBE

What are your thoughts here? I’ve nibbled but would like to see insiders step up in size.

[formthirteen]

4 hours ago, LC said:

What are your thoughts here? I’ve nibbled but would like to see insiders step up in size.

 

I haven’t seen the disruption others are talking about in Adobe’s numbers. For now, I’m betting AI will boost their revenue by democratizing photo editing. One bad quarter and I’m out (10% stop-loss), since a single miss could be enough for Mr. Market to dump the stock. As it is now I would be happy to put 5-10% into the stock with a stop-loss.

I think AI models will become a commodity, but the platforms around them (ChatGPT, Photoshop, etc) will not. AI will allow Adobe to automate a lot of workflows, i.e., charge more from their users and also attract more users.

 

AI will continue to make logical mistakes. Editing in Photoshop is needed for professional work. Professionals are unlikely to cancel their Photoshop license. This example that I generated using the latest Google update (Nano Banana) would need Photoshopping:

 

Mr. Market could still push Adobe down to P/E 10-15 as happened with Microsoft, and others.

 

 Google updated their Gemini model a few days ago:

 

In other words, with the stop-loss I'm happy holding ADBE as it's better than cash to me personally.

Edited August 30, 2025 by formthirteen

[LC]

Thanks @fareastwarriors 

 

I kind of agree especially around corporate adoption. I recall a decade or so back, google was trying to take share from microsoft office with google drive, google sheets, etc. It never really panned out. 

 

If models do become commoditized, the same could happen which would probably mean shares today are a steal. I was thinking of using LEAPs or other options to express the trade. 

 

Of course as you mention the opposite could occur, if the market sees a drop in subscribers/sales, it will be a bloodbath as the stock gets dumped. So downside protection is very important. Maybe even just buying puts with proceeds from selling OOM calls? 

[formthirteen]

19 hours ago, LC said:

I was thinking of using LEAPs or other options to express the trade. 

 

Of course as you mention the opposite could occur, if the market sees a drop in subscribers/sales, it will be a bloodbath as the stock gets dumped. So downside protection is very important. Maybe even just buying puts with proceeds from selling OOM calls? 

 

Let me know if you find some cheap LEAPS. I was too lazy to do the work, but asked Claude for "his" opinion. I would need to double-check and triple-check his work before I buy/sell.

 

Spoiler

Deep ITM LEAP Call (Stock Replacement)

Setup:

• Buy: ADBE Dec 2027 $300 Call @ $116.50
• Delta: ~0.85 (moves $0.85 per $1 stock movement)
• Capital Required: $11,650 per contract (vs $37,000 for 100 shares)

Why This Strategy Wins:

• Capital Efficiency: Control $37,000 of stock for 31% of capital
• Downside Protection: Maximum loss limited to premium paid
• High Probability: Already $70 ITM with 28 months to expiration
• Break-even: $416.50 (only 12.6% above current price over 28 months)

Risk Metrics:

• Maximum Loss: $11,650 (31% of stock value)
• Probability of Profit: ~65-70% based on current IV
• Time Decay: Minimal due to deep ITM nature
• Effective Leverage: 3.2x capital efficiency

Put Purchase Funded by OTM Call Sales Strategy Analysis

Strategy	Net Cost	Protection Level	Upside Cap	Best Scenario	Worst Scenario
Zero-Cost Collar	+$2,381 credit	$340 (-8%)	$450 (+22%)	Stock at $450	Stock below $310
Ratio Spread	+$2,389 credit	$350 (-5%)	$490 (+32%)	Stock at $480	Stock above $510
Ladder Protection	+$2,969 credit	$320/$360	$440/$460	Stock at $420	Sharp rally >$460
Butterfly Funded	+$3,652 credit	$330 (-11%)	$420 peak	Stock at $420	Stock >$460 or <$300

 

[Spekulatius]

Decided to take a first bite at $BOL (Bollore) here, like a few others.

[Spekulatius]

Added to $RBT and $BNR (Brenntag).

[dipod]

Sold some more puts on NVO today. More good news about semaglutide and it's positive benefits on other organs keeps coming through. This issue is still undervalued.

[formthirteen]

Tracker in IT. AI is not disrupting IT, IMO.

[Spekulatius]

Rebought a starter in $BAH and bit more $BOL (Bollore)

[Sweet]

12 hours ago, Spekulatius said:

Rebought a starter in $BAH and bit more $BOL (Bollore)

Why BAH now when revenue growth has all but stopped?  Valuation looks nice I admit, but would like to see top line growing.

Edited September 5, 2025 by Sweet

[brobro777]

Bought some LULU pre market for laffs 

 

haha

 

[formthirteen]

Switching LULU to LULU LEAPs. Haha. I'm expecting a "I love great legs" marketing campaign.

[Spekulatius]

3 hours ago, Sweet said:

Why BAH now when revenue growth has all but stopped?  Valuation looks nice I admit, but would like to see top line growing.

I think the stalling revenue growth is due to a one off from Doge and growth will resume next year. I can live with 1 year of no growth when I can buy a great business for a very fair price.

 

I think BAH is very well run, probably the best run government contractor , except CACI

Edited September 5, 2025 by Spekulatius

[lnofeisone]

8 minutes ago, formthirteen said:

Switching LULU to LULU LEAPs. Haha. I'm expecting a "I love great legs" marketing campaign.

What price/length are you looking at? Some 2 year out verticals offer 10:1 payouts but LEAPS might be better.

[formthirteen]

58 minutes ago, lnofeisone said:

What price/length are you looking at? Some 2 year out verticals offer 10:1 payouts but LEAPS might be better.

 

200 and 150 USD Jan 27, 2027. I'm expecting lot's of volatility. Waiting a couple of days, weeks, might be a better option, IDK. The issues will probably take more than a couple of months to fix.

[lnofeisone]

39 minutes ago, formthirteen said:

 

200 and 150 USD Jan 27, 2027. I'm expecting lot's of volatility. Waiting a couple of days, weeks, might be a better option, IDK. The issues will probably take more than a couple of months to fix.

i'm looking at 250 Jan 27th...too optimistic?

[formthirteen]

42 minutes ago, lnofeisone said:

i'm looking at 250 Jan 27th...too optimistic?

 

No idea. You might get lucky. I wouldn't be surprised if it traded at 300 USD. I might pick up some in front of the steam roller too.