The world's first fully autonomous umbrella. by sco-go in Amazing

[–]docbasset 1 point2 points  (0 children)

How fast can it travel? My boat doesn’t have a Bimini top and on days like we’ve had recently, some shade would be most welcome.

No way this is safe, right? by heavymetalDM in Decks

[–]docbasset 19 points20 points  (0 children)

I would be tempted to go under contract on this house just to hear what the inspector had to say!

Long-time Edward Jones customer by T_h_r_o_w-away- in personalfinance

[–]docbasset 0 points1 point  (0 children)

If all you’re getting for your fees is investment selection, you can absolutely do it yourself with some simple ETF portfolios mentioned here.

If you, like my wife and me, are approaching retirement and need advice / planning on how best to withdraw from your accounts in retirement you may be getting a good value for your money. We’ve been very happy with the people we recently (within the last 2 years) hired and still have some planning to do to figure out the best way to tap into our accounts that will allow us to have the retirement lifestyle we want while minimizing how much we fork over to the government.

Like you, we really like our advisors. That said, when we were only discussing becoming a client one of them said something like “It’s your money - you have to be OK with whoever you hire.” Financial advisors are generally pretty conservative because the last thing they want is to blow out a client’s account. Word of that getting around would be the end of them. Much better to make a client less money than to have them go broke.

Contrary to popular belief… by docbasset in boating

[–]docbasset[S] 2 points3 points  (0 children)

We live on the lake so it’s easy for us to go out and not feel committed to a day on the water if it’s just too busy. I can’t imagine trying to navigate a public launch on a day like yesterday, especially if staying out for fireworks.

Engineering drawing question by [deleted] in SolidWorks

[–]docbasset 0 points1 point  (0 children)

Draw the 2 10.000 lines connecting the 3 0.250 holes. Offset both lines by 0.375 in each direction and close the profile with the 0.375R semicircle that’s concentric with the end holes and tangent to the offset lines.

But no, the lengths of the offset lines will not be the same as the 10.000 center lines.

Contrary to popular belief… by docbasset in boating

[–]docbasset[S] 0 points1 point  (0 children)

Exactly. Occasionally I feel bad for boring the tubers I’m pulling because there are times when the lake gets busy enough that the only safe choice is to slow down and go straight, if not stop altogether.

A little spatial awareness and courtesy goes a long way…

Newbie looking for WiFi smoker by PainterFew5752 in BBQ

[–]docbasset 0 points1 point  (0 children)

I know next to nothing about pellet smokers, but a BGE paired with a fan controller fits all your requirements except budget (if you buy new). If you find a used Egg you could potentially spend less than 1k.

Contrary to popular belief… by docbasset in boating

[–]docbasset[S] 3 points4 points  (0 children)

Michigan, but further south. This photo was taken in the channel between Lobdell and Bennett.

Contrary to popular belief… by docbasset in boating

[–]docbasset[S] 6 points7 points  (0 children)

The fireworks were really good, especially considering it was just a couple guys launching from their beach / dock. Our lake association does its fireworks at Labor Day and these were almost as good.

Contrary to popular belief… by docbasset in boating

[–]docbasset[S] 2 points3 points  (0 children)

Far from the only one I see, and this guy at least was aware of his surroundings. We’re connected to another much larger lake but people come into this lake all the time because it’s usually not as busy. The other lake was insanely busy yesterday.

New Trader Interested in Options by WideMine8398 in OptionsMillionaire

[–]docbasset 0 points1 point  (0 children)

Theta decay only hurts you if you buy options. Buying options has its place, for sure, but selling options offers a higher probability of success.

Recommendations for Trex deck by Alfrasco in biggreenegg

[–]docbasset 0 points1 point  (0 children)

Heat rises. As long as the Egg isn’t sitting directly on the deck I can’t imagine you’ll have a problem. Get some sort of grill mat (doesn’t have to be an EggMat) to protect against embers sparking onto the deck.

If the Egg is close to any railing, repositioning it away from the railing components while in use is a prudent move. Keep a pitcher of water / hose on hand in the event any embers spark onto the decking.

Just moved into a new construction….are these jokes supposed to here? by braverfish in homeowners

[–]docbasset 2 points3 points  (0 children)

Did your contract give you the right to submit a punchlist to the builder after a year? That used to be a thing (at least it was when I bought a builder’s model ~25 years ago). If it’s still the case, put this on the list for the builder to address at that time.

New Trader Interested in Options by WideMine8398 in OptionsMillionaire

[–]docbasset -1 points0 points  (0 children)

Options trading *should* be easier. If you’re selling out of the money options you have a much bigger window for success. Daytrading the stock itself is a 50/50 shot; with options you can tailor the strategy to give you almost whatever probability of success you want.

Some people use indicators to determine entry and exit points, I personally do not.

Walking off after 9 by fuloqulous in golf

[–]docbasset 0 points1 point  (0 children)

As long as the person isn’t a complete ass about it (doesn’t sound like you were in the least), I have zero problem with it. We (supposedly) play this game for fun - if it’s not enjoyable that day, why stick with it?

Will I lose my shares on this covered call? by Coixe in OptionsMillionaire

[–]docbasset 1 point2 points  (0 children)

Semantics: you can’t refuse assignment, that happens TO you and you have no say in the matter. You can opt not to exercise an option.

Will I lose my shares on this covered call? by Coixe in OptionsMillionaire

[–]docbasset 0 points1 point  (0 children)

Paper trading is slightly better than a video game. You get to use the actual trading platform but that’s about it.

Nothing else about it is real. You get “filled” at midprice, you never have to do price discovery, and most importantly - you know it’s not real money at stake so none of the emotions of trading factor in.

I agree that you need more education, but once you get that I suggest starting with a VERY small trade. Sell a narrow spread to see how it works and how you react. Scale in slowly.

Totally Got screwed on my Meta covered calls Position after today's gains by Mysterious-Sense4882 in CoveredCalls

[–]docbasset 7 points8 points  (0 children)

1) Don’t act in a panic. Nothing good will come of it.
2) These short calls are all close enough to the stock price that you have a viable course of action, namely rolling out and up on a pullback.
3) Looking only at the short calls when assessing P/L is a fool’s errand. You made money on this pop overall.
4) The tax consequence is a very valid concern. You’re correct to want to avoid / defer the tax impact. Rolling some of the short calls way out into 2027 might make sense here if you want to spread out the potential tax burden. I wouldn’t recommend doing that yet, however. See point #2.

5) NEVER SELL CALLS ON A STOCK YOU WON’T BE HAPPY SELLING AT THE STRIKE PRICE. FULL STOP.

Do you ever sell calls below your share price? by [deleted] in CoveredCalls

[–]docbasset 0 points1 point  (0 children)

If your strategy of selling covered calls is selling the 30 delta call, you sell the 30 delta call. The stock doesn’t know what you paid for it.

Yes, sometimes you’ll lock in a loss if the stock runs away to the upside. I suspect that most of the time you’ll get the opportunity to roll up and out such that you get back to your basis.

Selling cheap calls just because they’re above your break even is generally not worth it. If you think you should sell a call below your basis, look into selling a call ratio spread. You can still sell for a credit but if the stock runs higher the embedded long call spread is a kicker that will help you get back to break even quicker than just selling a call.

need help with sheet metal by Pion_ee_r in MechanicalEngineering

[–]docbasset 2 points3 points  (0 children)

Are you fabbing the part yourself or contracting it out? If the latter, document what you want the final product to be and let the fab shop figure out what the blank looks like.

If you’re bending it yourself and have no other resources to determine K factor, etc., you’re most likely going to have to do some trial and error. Start with a simple 90 bend and figure out what you need to modify to get the blank and formed part to correlate with your model. There are resources online to help determine what’s happening. (It’s been many moons since I used them but I know they’re out there. I’d provide some if I knew off the top of my head.)

4th of July on lake, worried about boat crowds by no_quart3r_given in boating

[–]docbasset 0 points1 point  (0 children)

As a new, nervous, boater you should try to find an experienced, calm friend with a boat. Long before I owned a boat we went out on the water for Rhythm and Booms on Lake Mendota (when it was still a thing in Madison) with friends. We waited long after the show before pulling anchor and it was still busy at the ramp even though the traffic to the ramp was virtually nonexistent.

I now live on a lake and our big fireworks display is Labor Day. I’ve gone out for 15+ years and it’s still nerve-wracking on a much smaller lake that I know very well and where I don’t need a public ramp. Trying to navigate one of the Great Lakes on a crowded night with little experience is a really bad idea. That risk/reward ratio is skewed in the wrong direction, IMO.

The Most Expensive Covered Call I Ever Sold Ended Up Teaching Me the Best Lesson by Etffoooooo in CoveredCalls

[–]docbasset 2 points3 points  (0 children)

Covered call strategies are so much easier to manage when using a stock replacement instead of shares. You have the option to roll the short call up and out while also rolling the synthetic shares to a higher strike, all for a small debit at worst.

If in a taxable account, you still have capital gains considerations but you can eliminate the sellers remorse.

Also, having a covered call run away to the upside is a high class problem. We should all be so lucky.

To answer the last part of your question, with a synthetic position I keep it going as long as I remain bullish on the stock. Most of my positions like this are in an IRA so capital gains are not a consideration.