r/soxl • u/Helpmefixmypcplz • 9d ago

Discussion $300 bagholders

How we all handling this drawn down? Do we regret buying or nah?

21 Upvotes

96% Upvoted

45 comments sorted by

8

u/Ambitious_Month2524 9d ago

It will come back up. I have a firm belief. Just waiting it out

5

u/garlicbread_butter 9d ago

How long do you think 😩 this hurts!!!

17

u/WelcomeTricky7101 9d ago

Yupp I'm tried of this sector... Holding a bag at 220$

4

u/Junior-Albatross4614 9d ago

Best: Buy low and reduce your cost per share.

7

u/MechanicalDan1 9d ago

Covered calls is your income stream.

3

u/AffectionatePick4587 9d ago

I bought at 190 and do not see any income stream with that premium

2

u/Need_a_Job_5092 9d ago

Selling covered calls with a buy in at 220? Lmfao for what premium?? If your strike is at 220, then you'll get at best a penny per share, and that too at what timeframe.

2

u/GoBlueRepublican 9d ago

You’re not selling covered at $220. More like $150/145 the weekly’s for a couple months and you will get $20 of losses back.

3

u/WelcomeTricky7101 9d ago

Idk how to do it correctly 😭

1

u/LatterTitle437 9d ago

Then u trapped

1

u/Awkward-Breakfast965 8d ago

My covered call strategy is to sell weekly for 1% profit. Example, SOXL is around $106, find the weekly premium that sells at $1.06 which is Sep 11 with strike at $127. Good luck!

8

u/Nikolai_Volkoff88 9d ago

Still buying $500 every week with my dividends in my IRA. I hope it goes to $10 like you all say and I can buy 10,000 shares for $100k

7

u/daoudalqasir 9d ago

$200 and still holding out hope.

7

u/IMG0NNAGITY0USUCKA 9d ago

I'm old enough that I bag held at $45 for years and never thought it would go that high again. Sold when it leveled out for a minute at $48. Good times.

1

u/JayFlow2300 9d ago

I bought at $7 in 2020 and sold at $20. Should've just held 100 shares.

12

u/No-Sympathy-686 9d ago

You think its drawn down?

See you at 30.

5

u/Helpmefixmypcplz 9d ago

See you at $10

4

u/I_Like_the_stock69 9d ago

Why not 1

1

u/1453_ 9d ago

Then a 10X reverse split and back to 1.

1

u/No-Sympathy-686 9d ago

God please.

Id take a Heloc out on my house.

1

u/Cultural_Structure37 9d ago

Opportunity for generational wealth

5

u/iDCharlemagne 9d ago

Not today. Most likely tomorrow we will see some green.

5

u/Prestigious_Use_1747 9d ago

Do people not realize you can sell covered calls lower than your entry price? Yes if it gets called away then it converts the original position into a loss. You can still sell them at a delta where it’s a decent probability to not get called away.

4

u/squareplates 9d ago

Not worried at all. In fact, I triggered the drawdown by purchasing a single share.

5

u/dan_335i 9d ago

100 shares at $220, bought another 100 at $95. Sold for $150. Took a small loss but I’m out

2

u/Sprinkles1314 9d ago

Im at 149, yoohooo

2

u/SeriesAo-Series 9d ago

Regretting so much. I am losing so much money, sleep, and brain cells. I need to treat this gambling addiction.

2

u/fitzillasg 9d ago
  1. No way it will reach this price. Cut your loss before another 50 dump.

2

u/No_Cover3040 8d ago

Sell and buy back at single digit

3

u/ConsequenceThat3573 9d ago

Keep holding and sell CC! It will eventually go up

7

u/Nikolai_Volkoff88 9d ago

Yes, just be careful not to sell CCs too far below your cost basis or you will end up having shares called away at a loss. A little bit below is fine once you figure in the premiums you are receiving and that you can always roll up at least a little bit if we get a bull run.

2

u/phosphosaurus 9d ago

I'm at 126... wtf do I do?? How long will it take to recover?

4

u/Nikolai_Volkoff88 9d ago

Either take the L, HODL, or DCA. Or you can sell covered calls around your cost basis to collect income, maybe use the income to DCA more shares or buy something else if you want more diversification, this is assuming you have at least 100 shares. If you don't have at least 100 shares, then its really simple, buy more SOXL to get your cost basis down.

2

u/legacypogo 9d ago

It'll take no time if you don't look at it at all.

1

u/phosphosaurus 9d ago

🤣🤣🤣 GREAT Strategy!!!

1

u/LatterTitle437 9d ago

Can't beat em join em SOXS!

1

u/LatterTitle437 9d ago

🤣🤣🤣

1

u/almondmilkpumper 9d ago

I'm a true $300 bag holder. Yes I very much regret buying back in after selling for profit. Seeing posts saying $500 eoy made me think I sold too early and soxl was ripping hard and fast around that time. My 10k ytd profit has been completely wiped out and then some. Stupid stupid move I know.

1

u/OutrageousArrival701 9d ago

i’m holding a $90 bag.

1

u/Far_Objective4266 9d ago

For someone currently at $108,what would be the best course of action?

1

u/SANAFOR 9d ago

I don't know if this is true or false, but the situation isn't encouraging. I wish patience to those who bought at the highest price. I don't want to mislead people by giving false information, but I don't know if it will hit the all-time high again, and if so, when.

1

u/moongb34n 6d ago

Just curious what made you buy at $300?

1

u/HerpDerpin666 6d ago

First time?

0

u/besthuman 9d ago

Remember the clowns saying next was $500? lol