What are you buying today?

[dipod]

Wrote $19 puts on CPNG expiring tomorrow.

[Gregmal]

Bought some XLE. Keeping it simple LOL

[lnofeisone]

56 minutes ago, Gregmal said:

Bought some XLE. Keeping it simple LOL

come join the VET party

[lnofeisone]

Got JOE put on me. In at 50 (-the put premium).

[Benderok]

A bit of GOOGL and a tad of CPNG over the week to reduce basis. Some MSGE, thanks to posters with knowledge in msg threads for extensive discussion 

[Gregmal]

Started some Target 

[tnathan]

SPY puts (Sep 19 expiration). We are approaching the 200 day MA which has historically been a spot where the market has taken another leg downards in previous recessions / downturns after a bear market rally. I don't think anyone really knows how bad the economy will look in 12 months but with vix levels down to 20 this is a very cheap and potentially asymmetric bet after the strong rally.

[ERICOPOLY]

1 hour ago, tnathan said:

SPY puts (Sep 19 expiration). We are approaching the 200 day MA which has historically been a spot where the market has taken another leg downards in previous recessions / downturns after a bear market rally. I don't think anyone really knows how bad the economy will look in 12 months but with vix levels down to 20 this is a very cheap and potentially asymmetric bet after the strong rally.

I bought SPY puts too after your post reminded me to do so.

[gary17]

50 minutes ago, ERICOPOLY said:

I bought SPY puts too after your post reminded me to do so.

do you guys typically buy in the money put options ? 

[Gregmal]

10 minutes ago, gary17 said:

do you guys typically buy in the money put options ? 

VIX is so low you wanna go OTM

[gary17]

18 minutes ago, Gregmal said:

VIX is so low you wanna go OTM

 

thanks ! 

 

     

[LC]

Yeah I bought some oom 2 mo puts. 
 

wouldn’t have thought to but with Vix at 20 it’s relatively cheap for something asymmetric.

[Gregmal]

Margined some Berkshire to buy some FRFH and some IWM puts 

[Mephistopheles]

@GregmalWhat's the better way to hedge, VIX calls or SPY puts?

[Gregmal]

14 minutes ago, Mephistopheles said:

@GregmalWhat's the better way to hedge, VIX calls or SPY puts?

Depends. Last few months VIX hasn’t really reacted the way it typically does. We d have big down days and you’d get a 4% up move which was bizarre in the face of how they’d behaved for the past decade. So my preference at the moment would be index puts and maybe some very, very OTM VIX calls. 

[nwoodman]

Picked up some more FFH, price is OK  I still think there is a good chance that the ATCO bid will be raised.  Reading Frischer’s letter reminded me that a lot of ATCO’s remaining minority shareholders would likely rotate into FFH. So the plans for my residual ATCO stake was far from unique.  

[throw123]

coat tailed into ally

[Gregmal]

More Fairfax 

[WFF]

1658.HK reinvested my dividends

[Spekulatius]

On 8/10/2022 at 6:38 PM, Gregmal said:

KRUS. Long live the consumer. 

This is not a consumer play, this is a Momo play.

[Gregmal]

8 minutes ago, Spekulatius said:

This is not a consumer play, this is a Momo play.

Its a consumer discretionary 100%. Trading barely above where it was to begin the year despite blowing the doors off in every aspect. But of course people sold it down along with everything else in the market just cuz rates or whatever, shorted the shit out of the stock, and now when we rebound and "OMG its up so much". Definitely worth doing some work on. Their concept and general niche is very under appreciated. 

[Gregmal]

Its a very common theme in how parts of the market are presented today. Cherry pick the recent low point, and declare a move to be euphoria or some kind of evidence of the market being crazy. Perhaps the stock never should have sold off in the first place? KRUS is definitely on the expensive side and I'd certainly prefer to take more than a tracker at much lower prices, but you pay for growth. People sold off the stock on what? Gas prices, rates, consumer spending headlines and all of those issues where flat out wrong and not meaningful to this business. Just saw the same thing with AIV. Why did it sell off? Turns out people were just dumb and the market was wrong as usual. 

[Red Lion]

Bought some September 2 $420 SPY PUTS and sold September 2 $410 SPY PUTS. If the SPY drops by about 5% by the end of the month this should go 7X, and obviously it's likely to end worthless. 

 

I don't know where the market is going, but I do feel like with Jackson Hole coming up, Powell is probably going to try to scare the markets. 

[Dinar]

21 hours ago, Gregmal said:

More Fairfax 

Greg, why do you like Fairfax here?  Thank you.

[Gregmal]

28 minutes ago, Dinar said:

Greg, why do you like Fairfax here?  Thank you.

Its finally aligned and has enough cash coming in that should allow them to significantly reduce the denominator while earnings explode. Good risk/reward.