Official Spac Thread

**Heaney** · 03-02-2021, 08:29 PM

Originally Posted by TugOfPeace

Sounds nice, I wanted a condo as well but the HOA fees killed it for me. Can never justify buying one solely for that reason. Pretty nuts that you made so much off one trade that you could buy a C63 and still have $ left over haha.

Either pay property tax or condo fees, gonna get ya one way or another unless you rent. The housing market in my city right now is outrageous, its a university town so everyone buys up houses way above asking and rents them out for income properties. On my street which isn't a ritzy area at all, mostly student housing its not uncommon to see a run of the mill 4bdrm piece of shiet student house go for 600K+cad

Yeah its crazy, definitely a crazy experience the last 10mnths of trading has been. When I first started I only expected to maybe make a couple grand per year extra off my account.

Been trying to pay my luck forward as much as possible, not a SJW by any stretch but I've found myself tipping outrageous amounts due to the pandemic and a lot of service workers being out of work/hours cut back.

**chino3** · 03-03-2021, 06:09 AM

I know this is the SPAC thread but flat markets is where theta gang really shines.

**Harry362** · 03-03-2021, 06:15 AM

SPAC down all around for me

CCIV, BFT, IPOE, DM, SFTW, SCVX

down $4500 on my SCVX, really want a target announcement

Selling calls against everything else. Need options to open on SFTW (black sky)

**chino3** · 03-03-2021, 06:33 AM

^^^
Yeah it’s sad seeing CCIV slipping towards my CB of $24. About to close my remaining 10 $45cc’s for a $5 profit/share. Not bad tbh. Now not sure if I want to do weeklies or shoot for 4/16. Gonna keep doing weeklies with my other 1.5k with aggressive targets ($30)

**SazabiBrah** · 03-03-2021, 06:38 AM

damn HZON is an absolute steal at this price regardless of the valuation they give it. Will load up when I see it bottoming out

**Harry362** · 03-03-2021, 07:01 AM

maybe I should just dump my CCIV

EV are bull**** in general and luxury EV is a niche of a bull**** market, feel marred to the stonk though

**chino3** · 03-03-2021, 07:10 AM

Originally Posted by Harry362

maybe I should just dump my CCIV

EV are bull**** in general and luxury EV is a niche of a bull**** market, feel marred to the stonk though

Sell $30 weeklies. Premium is juicy and I feel it can easily pop at the drop of a hat

Edit, I hope this is more of your trolling, otherwise you’re a legit fukking retard if you think EV is bull chit. A county in CA just outright banned new construction on gas stations. CA in general will be gas free in a decade. Say what you want about CA but it’s where the money is, and is arguably the most important state in the nation. EV is literally the future...

**RobParks2M** · 03-03-2021, 07:48 AM

Welp. Back to NAV. Didn’t think that would be coming nearly this quick but here we are!

**NoScrubz** · 03-03-2021, 08:03 AM

Grabbed some hzon shares and warrants here

**TugOfPeace** · 03-03-2021, 08:09 AM

Originally Posted by RobParks2M

Welp. Back to NAV. Didn’t think that would be coming nearly this quick but here we are!

One thing I don't get, ETAC is trading at $10 (nav) now, but looking at its history it was trading below $10 at some point. How is that possible?

**Heaney** · 03-03-2021, 08:30 AM

I'd like to chanel my inner chino here with two quotes

"Fukin phaggot ass IPOF"

And

"I'm upside down here in my postion"

**RobParks2M** · 03-03-2021, 08:39 AM

Originally Posted by Heaney

I'd like to chanel my inner chino here with two quotes

"Fukin phaggot ass IPOF"

And

"I'm upside down here in my postion"

The 2nd one you forgot the last part “and that’s okay, let me explain why”

Also you shouldda sold hella CC against your warrants ayy lmao I think that would work similar to a poor mans covered call when you got warrants right??!

@Tug look up October slaughter lmao

@heaney do you recall what pulled the SPAC market out of the October doldrums?? Wondering how long we end up getting stuck at NAV

**Harry362** · 03-03-2021, 08:41 AM

Originally Posted by Heaney

I'd like to chanel my inner chino here with two quotes

"Fukin phaggot ass IPOF"

And

"I'm upside down here in my postion"

Are you still holding all those warrants?

**Heaney** · 03-03-2021, 09:00 AM

Originally Posted by RobParks2M

@heaney do you recall what pulled the SPAC market out of the October doldrums?? Wondering how long we end up getting stuck at NAV

IIRC it was just most the market rebounding after the September dump and also there were some good deals made (OpenDoor, ChargePoint, Desktop Metals etc).

Doesn't help when you have that old dinosaur fuk at Berkshire ****ting on our livelihoods here. Need Billy or Chamath to land a good company and resurrect the spacs

**SazabiBrah** · 03-03-2021, 09:02 AM

Originally Posted by Heaney

IIRC it was just most the market rebounding after the September dump and also there were some good deals made (OpenDoor, ChargePoint, Desktop Metals etc).

Doesn't help when you have that old dinosaur fuk at Berkshire ****ting on our livelihoods here. Need Billy or Chamath to land a good company and resurrect the spacs

are you getting into HZON?

**Heaney** · 03-03-2021, 09:29 AM

Originally Posted by SazabiBrah

are you getting into HZON?

No money. All in the ipof bloodbath

**RobParks2M** · 03-03-2021, 09:32 AM

Originally Posted by Heaney

No money. All in the ipof bloodbath

I've got $6k cash again after selling ETWO + it's CC, MAAC, and the March 12.5C I had against FTOC. Just gonna wait and see now, but Chino or anyone have any ideas on what I should do with my FTOC position? Is it even worth selling right now to prevent further pain or just stick it out all the way to $10? Not sure what it'll take to see it recover at this point and not sure that it wouldn't drop below $10 once the merger is complete anyway.

**TugOfPeace** · 03-03-2021, 09:37 AM

Originally Posted by RobParks2M

I've got $6k cash again after selling ETWO + it's CC, MAAC, and the March 12.5C I had against FTOC. Just gonna wait and see now, but Chino or anyone have any ideas on what I should do with my FTOC position? Is it even worth selling right now to prevent further pain or just stick it out all the way to $10? Not sure what it'll take to see it recover at this point and not sure that it wouldn't drop below $10 once the merger is complete anyway.

Why'd you sell MAAC? Fwiw that's the SPAC with the least amount of losses for me

**RobParks2M** · 03-03-2021, 09:41 AM

Originally Posted by TugOfPeace

Why'd you sell MAAC? Fwiw that's the SPAC with the least amount of losses for me

^for that exact reason. I didn't really lose much selling it, but it was a low conviction hold. I'm looking to buy warrants OR add to another position I have more faith in IE AVAN.

**chino3** · 03-03-2021, 09:46 AM

Any chance we see IPOF at $15 by 3/19? Really tempted to do this
http://opcalc.com/qze

**RobParks2M** · 03-03-2021, 09:49 AM

Originally Posted by chino3

Any chance we see IPOF at $15 by 3/19? Really tempted to do this
http://opcalc.com/qze

IPOF is hard to guess. Chamath tweets anything and it'll pump. If a deal gets done 100% it'll pump past $15. If no tweets and no announcements you might be safe lmao

**Heaney** · 03-03-2021, 10:45 AM

Originally Posted by RobParks2M

IPOF is hard to guess. Chamath tweets anything and it'll pump. If a deal gets done 100% it'll pump past $15. If no tweets and no announcements you might be safe lmao

Yeah it pumped to 18 last week because Dick Costello tweeted a pic of a rhino. Who tf knows what this will do at this point.

**Harry362** · 03-03-2021, 10:53 AM

JFC **** keeps dropping

**TugOfPeace** · 03-03-2021, 10:55 AM

Originally Posted by Harry362

JFC **** keeps dropping

SPACs have rinsed my account, never thought they would actually reach $10 and then proceed to dip below that.

AVAN, BWAC, ETAC, SCPE all hit < $10
CCAC, CRHC, SCVX, SRNGU, SWBK are headed there

I'm down about $5k on all those, thinking of just reducing those positions and trying to make the $ back elsewhere

**NoScrubz** · 03-03-2021, 11:03 AM

Originally Posted by TugOfPeace

SPACs have rinsed my account, never thought they would actually reach $10 and then proceed to dip below that.

AVAN, BWAC, ETAC, SCPE all hit < $10
CCAC, CRHC, SCVX, SRNGU, SWBK are headed there

I'm down about $5k on all those, thinking of just reducing those positions and trying to make the $ back elsewhere

That sounds like a bad idea tbh. I don’t have any of those but might grab some. Nowhere to go from here but up IMO

**chino3** · 03-03-2021, 11:07 AM

Originally Posted by Heaney

I'd like to chanel my inner chino here with two quotes

"Fukin phaggot ass IPOF"

And

"I'm upside down here in my postion"

feels brah. Feels. But more like "fukkin phaggot ass account"

Originally Posted by RobParks2M

The 2nd one you forgot the last part “and that’s okay, let me explain why”

Also you shouldda sold hella CC against your warrants ayy lmao I think that would work similar to a poor mans covered call when you got warrants right??!

Let me be explicitly clear, I am NOT ok with being upside like I am rn lol. PLTR and ARKK have gaped me worse than goatse. CCIV about to touch my cost basis. This is all so fukked.

At this rate, by 3/19 I will be assigned $400k worth of stonks. das DEFINITELY NOT it. Still have 2.5 weeks to see a correction, so I am too scared to turn them into strangles just yet.

**TugOfPeace** · 03-03-2021, 11:09 AM

Is there anything that might result in the market picking back up soon? My portfolio is down fukin 37%.. JFC. Granted it's only March so plenty of time to make that back, but this is unsettling. Chitty part is I wasn't even in any risky positions.

**Carbonfibre** · 03-03-2021, 11:32 AM

Maybe Citadel is shorting SPAC's

Somoene needs to look into it.

Seems like easy play since SPAC are coming out left and right.

Already gonna pass 2020 this month.

Thats just crazy.

**topperstyle** · 03-03-2021, 11:36 AM

FRX stop the count

**Harry362** · 03-03-2021, 11:42 AM

Originally Posted by topperstyle

FRX stop the count

lol why did I not sell FRX when it was close to $17

Thread: Official Spac Thread

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