This market needs to cool Off or

Because I sold calls at 73 that expire Friday. They force me out at 73 and also trigger massive taxes. And yes I’m already including cap gains. Have held it awhile.

My hope is if it stabilizes I buy out the Calls for say $1. Sell them for say $1 for 6/28 at $75 and if the market cools for a week they expired and I’m not forced to sell out

For me I’m at 20% fed cap gain. Thanks Joe. And 13.3% California thanks to Jerry and Gavin. Ca also slows feeer deduction and phases out exemptions faster. So even thought those rates are different I end up laying similar amounts to each entity.

Failing the above I will buy and sell out the calls trailing the strike price and at least each week I’ll creep up a bit. One week will be 73. Then 74. If the stick keeps shooting up I won’t be able to afford to buy them out anymore. But since we are talking about 43,100 shares here. Every time I can spin the game and write a new call for $1 more? Even if I know I’m destined to lose, at least I gain $43,100 each round.

Eventually the music stops and I might be forced to sell out at $75-76-77 while tqqq has risen to $80-85. And I could kick myself. But if that happens I’ll have spun out of 73. Broken a few tackles at 74,75,76 and if I finally have to stop at 77 then I still elevated from 73-77 which at 43,100 shares is $ 172,400 so at least I’ll have benefitted for my trouble.

At $73 I’ll have an immediate half million dollar tax problem. I think at $73 my gain is 1.5 million. So I can count on paying 1/3 to the feds and the state

I am counting on that. if Nvidia would just take a breath for a week I'd be fine. This is all being driven this week by Nividia. All year really. And the last week by Apple.

Well if you're not making quarterly payments and being safe harbor, you're being penalized. Your tax people are supposed to keep you out of that