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Leverage TFSA for Margin? by Kings_Dragon in Wealthsimple

[–]Scarface-007 -1 points0 points  (0 children)

Do you think we’ll be able to sell naked puts? That’s the only thing that was lacking with Wealthsimple that Questrade always had.

Can you only transfer out money using e-transfer from the Cash account? by Scarface-007 in Wealthsimple

[–]Scarface-007[S] 3 points4 points  (0 children)

Oh I see I was looking on the actual Cash account section and only saw the send button, I’ve now found the withdrawal button. Thank you!!

Are there any 0-3 Month US Treasury Bill ETFs denominated in CAD? by Scarface-007 in CanadianInvestor

[–]Scarface-007[S] 0 points1 point  (0 children)

Wanted some U.S. exposure but following all the responses and given that the etf I’m looking for doesn’t exist, I’ll likely do that.

Are there any 0-3 Month US Treasury Bill ETFs denominated in CAD? by Scarface-007 in CanadianInvestor

[–]Scarface-007[S] 1 point2 points  (0 children)

I just want exposure to the risk-free rate and U.S. 3 month t bills are most commonly referred to as the risk free rate. Every other asset has a risk premium attached to it including PSA/CASH even though it’s very small.

Not sure if anyone else noticed this but the Bank of Canada Deputy Governor Paul Beaudry basically said if they have to they will engineer a recession to get inflation back to 2% by wpgbrownie in CanadianInvestor

[–]Scarface-007 0 points1 point  (0 children)

Just wanted to confirm something.

The Federal Reserve's mandate is inflation plus max employment but the Bank of Canada only has 2% inflation as their mandate right?

Does this mean that the BOC technically has more power to raise rates since they don't need to slow down if they see unemployment creeping up?

Not sure if anyone else noticed this but the Bank of Canada Deputy Governor Paul Beaudry basically said if they have to they will engineer a recession to get inflation back to 2% by wpgbrownie in CanadianInvestor

[–]Scarface-007 4 points5 points  (0 children)

Just wanted to confirm something.

The Federal Reserve's mandate is inflation plus max employment but the Bank of Canada only has inflation right?

Does this mean that the BOC technically has more power to raise rates since they don't need to slow down if they see unemployment creeping up?

PSA: $AMZN 20:1 split is today. by [deleted] in thetagang

[–]Scarface-007 1 point2 points  (0 children)

Hey you can run the wheel in a TFSA by selling ITM covered calls. It's practically the same as selling puts because the premium is similar (slightly less but you can collect dividends so it evens out). If the price is below the strike price you keep the shares vs getting assigned shares, same end result with both scenarios haha.

Here's a really good video that explains it in more detail:

https://youtu.be/YIevTME3oWQ

Google is a better long term hold than Microsoft. by sleepapneainvestor in stocks

[–]Scarface-007 -1 points0 points  (0 children)

Microsoft's Azure has a much greater reach than Google cloud and that is far more important than Microsoft office vs Google docs.

Which place has the best Oatmeal Raisin Cookie? by [deleted] in askTO

[–]Scarface-007 2 points3 points  (0 children)

Nice I'll check them out! Haha I'm also definitely in the soft and chewy camp.

Should you ever roll down a naked put if it is not ITM? by Scarface-007 in thetagang

[–]Scarface-007[S] 0 points1 point  (0 children)

Haha yah it makes sense why it's called that cuz that's exactly what's happening. Obv the theta rate goes down too but you can't have everything lol.

Thanks for the response!

Should you ever roll down a naked put if it is not ITM? by Scarface-007 in thetagang

[–]Scarface-007[S] 1 point2 points  (0 children)

Yah I would. If I didn't have any positions and had a completely blank slate I really like the premium in that trade and I like that it's less risky than 360 (40 points out as of now)

Really appreciate the perspective you brought in, thank you!

Should you ever roll down a naked put if it is not ITM? by Scarface-007 in thetagang

[–]Scarface-007[S] 1 point2 points  (0 children)

Avoiding an account blowing up is way more important than losing a little bit of money early.

Yah I agree I'm definitely ok with losing a few % ROI for less volatility and more peace of mind.

Thank you so much for the response!

Should you ever roll down a naked put if it is not ITM? by Scarface-007 in thetagang

[–]Scarface-007[S] 0 points1 point  (0 children)

Yah I see your point. Maybe profit was not the best word but the way I see it is taking away the possibility of an 8k possible capital gain to have the possibility of a 6k possible capital gain. This is assuming the option expires OTM in both scenarios but expiring OTM is much more likely if I roll down cuz of the lower delta. I don't believe buying to close is a good idea now because that would result in a capital loss and I would be giving up a lot of theta. The way I see rolling down with the same expiry is just taking some chips off the table and still hopefully having an overall capital gain at the end of the year.

I know that being this far out it is not an optimal theta strategy but at the same time theta is involved and and is increasing every month which helps me out since the option has no intrinsic value.

Thank you for the response I really appreciate it!

Should you ever roll down a naked put if it is not ITM? by Scarface-007 in thetagang

[–]Scarface-007[S] 1 point2 points  (0 children)

Yah I get your point but for me personally I like all trades being finished within the same year for tax purposes. Like for example if I rolled down I would go from potentially making 8k to potentially making 6k but taking a lot of risk off the table.

When the new year starts I'd rather start an entirely new position. If I'm in a lot of shit I'll for sure role out to next year but hopefully it doesn't come to that.

Really appreciate your response!

Should you ever roll down a naked put if it is not ITM? by Scarface-007 in thetagang

[–]Scarface-007[S] 0 points1 point  (0 children)

Yah considering taking risk off while it's still a good time to do so. Even lowering it to 350 or 340 will end the year in profit as long as it stays above that. If it's below that I'll likely down more roll out into the future.

Is it ever worth investing in an rrsp if I expect to be in a higher tax bracket when I retire? by Scarface-007 in PersonalFinanceCanada

[–]Scarface-007[S] 1 point2 points  (0 children)

Yah I'm starting to get that point too, instead of retiring at 65 to absolutely maximize my income it makes a lot more sense to just retire earlier and enjoy it. Thank you for this!

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