Willing to lose $40? Not me!

Essentially no volume. If you buy it, you’ll be stuck with it until it expires and you get assigned. It’s unlikely you’ll be able to close the option before expiry. On a penny stock, you’re essentially buying a *minimum* loss of nearly 8c per share up front.

Otherwise… why? It’s a declining investment, with a company that is running out of cash, likely to dilute existing shareholders value even more with further debt sales, no product, no revenue and a massively negative EPS.

You’re also using your buying power instead of buying something with value, and you’re tying up your buying power until January. It makes no sense as presented.

You’d be better giving your $40 to a homeless shelter! At least you’ll feel better than throwing it away.

This stock is a value destruction machine: *Nasdaq FSI: *Deficient: Issuer Failed to Meet NASDAQ Continued Listing Requirements and more…

Options Trades: GOLD Rolled Over & Out

So …

08/08/2022 12:02:28 Sold 1 GOLD Aug 26 2022 15.0 Put @ 0.15

08/12/2022 09:54:45 Bought 1 GOLD Aug 26 2022 15.0 Put @ 0.05

08/10/2022 14:15:57 Sold 1 GOLD Sep 23 2022 15.0 Put @ 0.32

09/26/2022 Assigned

09/28/2022 11:22:47 Sold 1 GOLD Sep 30 2022 15.0 Call @ 0.13

I STO one contract of GOLD when price was trading around $16.50. Within a few days, it was already trading at 5c.

I rolled it at the same Strike for another 4 weeks. Got assigned due to the rough markets. Now assigned, I STO 1 CALL same Strike for this Friday for 13c (later, I might’ve got 18c or more but I had to go to bed!). It’s now trading at $14.97.

In general PE is low, it’s trading at quite a low valuation and looks like $15.00 or thereabouts is a resistance point. I guessed that it wouldn’t trade long under $15. But macro events are in focus and making things unpredictable. So it dipped to nearly $14.

Errors in Trade.

#1 The initial trade would’ve traded OTM but I rolled it. I opted #2 time to allow assignment seeing that not much had changed.

#2 I rolled it during dividends. It traded under $15, too. Perhaps I shouldn’t have.

#3 I’m going to let it ride till next week. If it’s assigned. ? If not, I’ll STO a contract at $15 for next week (probably).

#4 By rolling the first time I reduced the APR from a respectable 67% to about 24% pa.

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The Psychology of Money (long read)

The Psychology of Money ยท Collaborative Fund

Stumbled upon this article I thought this sub would appreciate. I found myself nodding in agreement as I read, often highlighting quotes and passages to revisit later.


It consolidates many concepts around investing, frugality, simple living and financial independence that as someone who only recently subscribed to this mindset wish I could have read 10 years ago.

And yet, as I copied the link to share with some younger acquaintances, it also seems like the type of article a younger me would have just disregarded immediately. Such is the irony, youth being wasted on the young etc.