aws Posted July 18 Share Posted July 18 1 hour ago, thepupil said: example: I went long about $xxxK notional of $VT via (synthetic long, short put long call) and short the same of SPX via futures options expiring in december. so long world / short US, not the exact same security, but about 65% or so pretty similar since world is 65% US. I'm invested mostly in US in all accounts including tax advantaged so being short US for this trade wasn't a concern. I lost $xxK on the short SPX leg and was up $xxK on the $VT leg at time I closed out the SPX short and realized $xxK of losses. I then re-established a similar short position in a slightly different US based index (even though 1256 contracts don't have wash sales so this was not necessary). Assuming the $VT leg is still profitable at expiry, I can choose to exercise in December (which will require borrowing a bit of money) which will build the gain into the VT shares but allow me to control timing of realization. there's a number of iterations. I think the "right" way to do this would be to diversify across tons of highly correlated pairs including individual stocks, but I'm optimizing for pre-clearing as few things as possible at my employer. Is your objective to create trades that effectively work like straddles, but are not forced to be taxed as such (not being able to use the loss until the corresponding gain is recognized)? Link to comment Share on other sites More sharing options...
lnofeisone Posted July 18 Share Posted July 18 12 hours ago, thepupil said: example: I went long about $xxxK notional of $VT via (synthetic long, short put long call) and short the same of SPX via futures options expiring in december. so long world / short US, not the exact same security, but about 65% or so pretty similar since world is 65% US. I'm invested mostly in US in all accounts including tax advantaged so being short US for this trade wasn't a concern. I lost $xxK on the short SPX leg and was up $xxK on the $VT leg at time I closed out the SPX short and realized $xxK of losses. I then re-established a similar short position in a slightly different US based index (even though 1256 contracts don't have wash sales so this was not necessary). Assuming the $VT leg is still profitable at expiry, I can choose to exercise in December (which will require borrowing a bit of money) which will build the gain into the VT shares but allow me to control timing of realization. there's a number of iterations. I think the "right" way to do this would be to diversify across tons of highly correlated pairs including individual stocks, but I'm optimizing for pre-clearing as few things as possible at my employer. Minor suggestion here. 1256s in the US get taxed at 60/40, irrespective of the time you hold them. Some ETF options get taxed depending on how long you hold them. You can optimize your strategy here by using ETF options and match tax duration, i.e., your long leg can go down from ST to LT rates if you hold for a year. You can match similarly on the short side to use LT losses to offset LT gains. Link to comment Share on other sites More sharing options...
thepupil Posted July 18 Share Posted July 18 (edited) yep, was aware of the 1256 (hence no wash sales). I definitely can do it more optimally and need to sit down build an excel sheet/plan. @aws objective is to have no economic gains/losses, not use "substantially identical" securities and have an array of unrealized gains/losses to choose from. Edited July 18 by thepupil Link to comment Share on other sites More sharing options...
Spekulatius Posted July 18 Share Posted July 18 Sold Baxter $BAX due to concern about capital allocation - in particular the potential sale of the Kidney care business. Made a bit money on that one but nothing earth shaking. My concern is that they sell Kidney care business too cheaply and then re- baseline expectations Given their track record , I do think the concern is a valid one. Link to comment Share on other sites More sharing options...
sleepydragon Posted July 19 Share Posted July 19 18 hours ago, Spekulatius said: Sold Baxter $BAX due to concern about capital allocation - in particular the potential sale of the Kidney care business. Made a bit money on that one but nothing earth shaking. My concern is that they sell Kidney care business too cheaply and then re- baseline expectations Given their track record , I do think the concern is a valid one. I sold it too last week Link to comment Share on other sites More sharing options...
aesophawk Posted July 22 Share Posted July 22 Sold all SPHR Small trims to BAC and BRKB. Link to comment Share on other sites More sharing options...
Saluki Posted July 22 Share Posted July 22 Sold off the rest of the VTS in my retirement account. I bought it cheap and don't pay tax on the sale, but 8% dividend is not enough reason to hold it in my non taxable account, which is valuable real estate. Still have a small position in my taxable account though. Link to comment Share on other sites More sharing options...
Gregmal Posted July 26 Share Posted July 26 Cleared out a bunch of PCYO, TRC, MMM, ALEX Link to comment Share on other sites More sharing options...
fareastwarriors Posted July 26 Share Posted July 26 31 minutes ago, Gregmal said: PCYO what was the straw that broke the camel's back Link to comment Share on other sites More sharing options...
Gregmal Posted July 26 Share Posted July 26 1 minute ago, fareastwarriors said: what was the straw that broke the camel's back JOE Link to comment Share on other sites More sharing options...
Saluki Posted July 26 Share Posted July 26 Trimmed more VTS before I went on vacation. Now it's a little over 1% position. Link to comment Share on other sites More sharing options...
Paarslaars Posted July 27 Share Posted July 27 (edited) 17 hours ago, Gregmal said: JOE Also creating dry powder for when Bruce strikes? Edited July 27 by Paarslaars Link to comment Share on other sites More sharing options...
Spekulatius Posted July 27 Share Posted July 27 Trimmed a bit TPB. It is probably going to the moon now. Link to comment Share on other sites More sharing options...
Whensthepaintdry? Posted July 27 Share Posted July 27 I sold Imkta. I still think it’s cheap, but I’m not seeing anything that will change that anytime soon. Link to comment Share on other sites More sharing options...
Gregmal Posted July 27 Share Posted July 27 12 hours ago, Paarslaars said: Also creating dry powder for when Bruce strikes? Not even that, it’s just that JOE is doing everything right, and there’s nothing PCYO or TRC offer that JOE doesn’t provide in spades. JOE I wouldnt be selling at $125-150. PCYO like in the past I’d flip at $14-15 in a heartbeat and TRC $22-25….so I’d rather just consolidate and diversify into other ideas which are beginning to emerge. Link to comment Share on other sites More sharing options...
frommi Posted July 29 Share Posted July 29 Sold SEER, TUSK, LSEA, DSGN after the little popps in each of them. Link to comment Share on other sites More sharing options...
fareastwarriors Posted July 31 Share Posted July 31 Trimmed some PCYO Link to comment Share on other sites More sharing options...
formthirteen Posted August 1 Share Posted August 1 (edited) MO and KNSL Edited August 1 by formthirteen Link to comment Share on other sites More sharing options...
wisowis Posted August 1 Share Posted August 1 Sold RCM Link to comment Share on other sites More sharing options...
Charlie Posted August 5 Share Posted August 5 Sold the Apple shares of my mother. With Buffett´s selling at probably much lower prices, likely continuing selling of Buffett, a high valuation (PE of 32), China risk and the natural lack of certainty with tech it didn´t make much sense to hold. Valuations matter. Link to comment Share on other sites More sharing options...
Milu Posted August 5 Share Posted August 5 25 minutes ago, Charlie said: Sold the Apple shares of my mother. With Buffett´s selling at probably much lower prices, likely continuing selling of Buffett, a high valuation (PE of 32), China risk and the natural lack of certainty with tech it didn´t make much sense to hold. Valuations matter. I also sold my apple shares. I'd been thinking about it on and off over past year or so as the valuation kept going ever greater. It's was just under a 4% weighting in portfolio and I sold the lot. I think the disclosure of the Buffett sale was the last indicator I needed that it might be work cashing out for potential use down the line. I rarely sell stocks though and most times I do it ends up being an incorrect decision over the long term. Link to comment Share on other sites More sharing options...
coffeecaninvestor Posted August 6 Share Posted August 6 Selling some index funds. I have had very little cash for a while now. I'll have about 8% after the sale today. Link to comment Share on other sites More sharing options...
Saluki Posted August 7 Share Posted August 7 Sold the last of my VTS at ~$23.50. Missed the top at ~$26 a week or two ago and I still think it's a good company, but I wanted to free up some cash to buy some of the other stuff that has gotten killed the past few days. I heard about it on COBF and bought from $14.70 - $19.23 and got a nice return plus a fat dividend while I waited. It's still paying a nice high single digit dividend at these prices, but I'm looking for growth, not income. Link to comment Share on other sites More sharing options...
Luke Posted August 7 Share Posted August 7 I am reducing some of my margin positions because IB doesn't like it that I have large positions in FFH, PRX and PDD Link to comment Share on other sites More sharing options...
Luke Posted August 7 Share Posted August 7 And i wont buy 35 PE megacaps to have a "compliant" portfolio lol!!!! Link to comment Share on other sites More sharing options...
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