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What are you buying today?


LowIQinvestor

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Lance, can u kindly explain your thoughts on bns bank of Nova Scotia? thanks.

 

Hi Dutchman - i like financials here as I think rates will likely continue rising and that absent a credit event they should do well long term.  I also like Canadian banks more than US banks in general and think BNS is fairly cheap as is RY which I may add to as well if it goes below $70.

 

Thanks

Lance

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Wrote some 7 December cash covered puts on

AAPL 170 strike for $2.38

BAC 26.50 strike for $0.43

 

Hat tip to boilermaker75 for this approach to opening long positions.

 

Glad you find that idea useful.

 

I wrote some BRKB 210-strike Friday expiration puts for $1.05-$1.07 per share today.

 

I like to write slightly OTM puts on Wednesday before Thanksgiving that expire on Friday after Thanksgiving. They usually expire worthless. Friday is usually a quiet day with a slightly positive bias.

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Added to a long term position in ROST. Big down week surrounding earnings, which were a beat. I believe the market is reacting to the Q4 guidance which was lower than what folks have been expecting and what they have been consistently delivering. They have consistently sandbagged guidance and then beat it, so I'm not concerned about that.

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I'm all in with a purchase of CLB today.

 

edit: also added some MO Jan 2021 $50 calls using the supposedly sacrosanct skool funds.

 

The cash I have left is sacrosanct (no, really) and will be used for a bachelors degree unless BRK takes a big dive, in which case I'd probably add to the position & start busking to cover the missing cash  ???

 

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[[[ This should be a sufficient signal for ALL intelligent investors to marshal their cash for a huge downturn in the markets. ]]]

 

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I only need about $5K or $6K in income for next year to maintain eligibility for ACA & will hopefully be able to sell off the MO Jan 2020 calls in 2019 in order to make this happen & to add a bit of cash back to the educational fund.

 

Other than that, I believe that the other businesses are good for the next 5 to 10 years & more in some cases.

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