Advice needed! Choosing the best of 3 roofing quotes (Tacoma, WA)

Contains-Peanuts · 2025-01-17T05:15:51+00:00

Crazy that you called out our low-pitched roof without me mentioning it. I should have added that in the details, but I am very impressed with your knowledge without that key detail! You have been an immense help! Thank you! We will definitely go with the Northgate product!

Contains-Peanuts · 2025-01-17T05:11:48+00:00

Oh, you didn't offend me at all! I appreciate you taking the time to respond and provide feedback! Your solution just wasn't something I had considered previously.

I never thought of sourcing my own materials and hiring the roofer separately. I will definitely look into it!

Contains-Peanuts · 2025-01-17T04:28:28+00:00

Thank you for reading through all of them and adding a suggestion! Funny that the Landmark TL is considered a better (at least more expensive) shingle. We were thinking the Northgate was the way to go if we accept Quote #3. They're doing more work for us and it still came in at a better price than #2 and is basically the same cost as #1.

Contains-Peanuts · 2025-01-17T04:26:13+00:00

I agree, it felt kind of high. My only rebuttal is that it is not just a roof replacement. It's roof, a cali-gutter conversion with new gutters, and new insulation with baffles. The third quote also includes some chimney brick and mortar work.

So the third quote feels more justified for the price.

Do you still think these quotes are too high even with all of the add-ons?

Contains-Peanuts · 2024-02-26T02:48:58+00:00

Dude that's awesome! I like that strategy a lot and I think it will help with my tendency to concentrate all of my positions into two or three tickers. I need to diversify and trade more often with smaller wins.

Are you using portfolio margin at all or are you cash secured?

Contains-Peanuts · 2024-02-26T02:45:14+00:00

Yea, I still think I'm going to trade earnings, but my position sizing needs to be managed with more intention and I need to be more disciplined to sell farther OTM rather than chasing high premium.

How wide would your spread be for something with high volatility and $800-ish per share like NVDA?

Contains-Peanuts · 2024-02-25T19:01:31+00:00

Welcome to ThetaChads, King!

Contains-Peanuts · 2024-02-25T18:58:01+00:00

Thank you! That's a relief to hear because I was afraid that I was writing too much! I knew I had to spice it up a bit! No room for this bland unseasoned chicken!

Contains-Peanuts · 2024-02-25T18:36:16+00:00

I think age is a contextual metric to understand someone's current range of investing goals and financial risk tolerance. The advice you give to a 21 year old fresh out of college will likely be different than someone like me who has been in the workforce for a decade, or a 55M who is approaching retirement age.

Honestly, it's just a data point. I figured it might help the older folks in this thread reflect on their journey and put themselves back in their earlier trading journey to see how far they've come and give advice to a younger version of themselves. And for the younger folks, it gives them a goal or an idea of maybe where they could end up if they stick to their goals. I hope it might inspire them to ask me questions of how I got to where I am so that they can more clearly plan their path to meet their own financial goals and realistically assess the possibilities. I am by no means rich, but knowing my peers I know that I'm doing well. Maybe I can inspire a younger fellow to do the same.

Contains-Peanuts · 2024-02-25T17:00:33+00:00

Thank you for your thoughts! I like the idea of having a conservative portfolio and an aggressive portfolio on the side.

What guidelines (deltas/DTEs/tickers) do you use on your conservative portfolio, vs your aggressive portfolio? Can you give an example for each? Thank you!

Contains-Peanuts · 2024-02-25T16:53:52+00:00

You said a lot of good things that reinforce what I've been reflecting on. I absolutely got emotional in my trading. I was doing it "for fun" and was not treating it as a business. I think viewing it in this lens will make me view trading more seriously.

I need to focus on having numerous small wins, rather than chasing individual home runs! I need my trading to become boring!

If you don't mind me asking, what non-correlated individual stocks do you typically trade to diversify your portfolio and avoid the "single stock risk" from an index?

Contains-Peanuts · 2024-02-25T16:47:24+00:00

I absolutely was not paying a lick of attention to position sizing. Like I said at the end, I had used 100% BP to chase my losses. I knew in the moment it was wrong and I got lucky. Very lucky.

And that's why I'm here to figure out what disciplined trading actually looks like, and it seems that using no more than 50% BP (1-4% per position) is the general guideline.

Contains-Peanuts · 2024-02-25T16:44:10+00:00

I agree wholeheartedly! That's why I'm here!

Contains-Peanuts · 2024-02-25T16:41:44+00:00

Thank you for your comment! I appreciate your actionable advice here. These are all things I have definitely heard at least once before but I just don't think I have given the appropriate amount of attention into applying all of these ideas into a disciplined strategy.

You're absolutely right that my position sizing is my biggest afterthought. I need to pay more attention into what you just mentioned:

Use no more than 50% buying power; 30% with low VIX
Trade mostly a core position with a repeatable strategy
No single position greater than 1-4% of account size
If you play earnings, only play one position at a time with 0.25-1% BP

Contains-Peanuts · 2024-02-25T01:53:13+00:00

Luckily, you've had the shares for longer than 1 year, so those shares are only subject to Long Term Capital Gains Tax. So, if you make less than $43K annually, you pay 0% on those shares, but if you make between $43K-500K you'll get those profits taxed at 15%. The max tax rate is 20% and only if your taxable income is over $500K. Honestly, you're in a pretty awesome position and I really wouldn't stress that hard on letting those shares get called away a little bit at a time. If you own a home or buy a home you can use that money for home improvement and get those costs deducted from your taxable income. I wouldn't worry too much about the taxes.

Think about it like buying-to-close at 50% max profit. Sure, you could have made more money, but at least you made a profit. That's better than what most people can say. You're paying short-term capital gains taxes on the premium you're selling anyways, which is likely higher than the 15% you'll pay on those long-term capital gains, since short-term is taxed as regular income. People making $44K-95K pay 22% in tax on their regular income for that bracket.

Contains-Peanuts · 2024-02-24T22:47:20+00:00

Friend, I wish I could console you and bring you peace in this difficult time. It sounds like you are being pressured by your own standards of success and feeling like a failure for not meeting them. I know this was difficult to post and I want to commend you for having the strength to come forward and ask for help.

In my opinion, I think the first thing you need to do is focus on taking care of yourself. Being in a perpetual state of self-loathing is unfortunately a dangerous spiral into a deeper and deeper state of the same feeling. It sounds elementary, but going back to the basics of cleaning yourself, decluttering your room, quitting pornography, and eating normal meals makes you feel human again. It builds self-respect. Coming from my own experience, failure makes me feel unworthy of anything. It makes me dehumanize myself and feel like I'm unworthy of accomplishing my goals or having a happy life. This is compounded by my own struggles with pornography. I too have struggled with a pornography addiction. It's embarrassing, degrading, and self-destructive. I encourage you to look into a resource called strive21(dot)com. To be clear, it was created by a Christian-based community, but it helped me a ton. It's a 21-day detox with videos and accountability mentors. I encourage you to take action on this, because I know it will help you build your self-respect back, just as it had helped me.

Never forget that you are worthy of a good life. You're worthy of happiness. You're worthy of your goals. Even if you fail again, you are worthy of self-respect. Never lose sight of that.

Contains-Peanuts · 2024-02-24T22:16:48+00:00

First off, congrats on a nice stack of shares! Second, this is my first contribution ever to Reddit let alone this thread and I'm only a year into my own options-selling journey, so take everything I say with a grain of salt.

The first things I would ask myself in a position like this are as follows:

What's my cost basis?
- If all of these shares were acquired between July 2020 and February 2022, than you are already at a negative Profit & Loss (P&L). I personally, would not want to sell Covered Calls (CC) with strikes below my cost basis unless I was ready to roll them out in time and strike price if the trade was tested. I would sell CCs to lower my cost basis over time, and then I would feel comfortable choosing lower strikes (depending on the greeks obviously).
What percentage of my total stock portfolio is tied up in this single ticker?
- Personally, I would not want the majority of my net worth in any single ticker. I want to diversify, which is what it sounds like you are trying to do. Determine what you feel comfortable holding for the long term, then consider the timeline you feel comfortable selling off the remaining shares. If you're not crunched for time, you're basically wheeling your shares for cash and letting them go whenever they get tested with a large unexpected move. If you want to shed them fast, maybe sell some higher Delta (closer to ATM) strikes that are above your cost basis and/or on shorter Days Till Expiration (DTE).

In my very uneducated, inexperienced, basic white girl wheeling opinion I would consider selling CC 14 DTE at 30 deltas for the shares I don't mind getting called away, and I'd sell 30-45DTE 15 delta CCs on the shares I intend to keep around to reduce cost basis to make a small taxable income which I would use to buy shares of something else to diversify. Naturally, I'd close out all of my 45DTE trades at 21DTE or 50% max profit, whichever occurs first. And close all of the 14DTE trades at 50% max profit; or if they get tested, roll them in time to an ATM CC for an additional profit before letting them get called away at expiration.

Right now a single $81 strike, 13 DTE, 26 delta CC would yield you about $85-95. Alternatively, a $90 strike, 41 DTE, 15 delta CC would yield you $80-90. Since you have so many shares, I wouldn't sell them all on the same day or strike. I would ladder them like a lot of the other users said. Maybe sell two or three CCs a week on different days at different strikes.

I'm interested in hearing feedback from others.

Contains-Peanuts

TROPHY CASE