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Old 4 December 2021, 04:39 AM   #8701
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Yeah. I sold shares and bought leaps. Thought options and shares do not mix for wash sale purposes.
they don't, and selling options to get into other options doesn't count as a wash sale as well as long as the strike or expiry is different. bold move though
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Old 4 December 2021, 04:44 AM   #8702
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Yeah. I sold shares and bought leaps. Thought options and shares do not mix for wash sale purposes.
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they don't, and selling options to get into other options doesn't count as a wash sale as well as long as the strike or expiry is different. bold move though
I always thought they did. As long as you sell a stock or any derivative of it at a loss, any purchase within 30 days of any derivative initiates a wash sale? I’m like 90% sure (was 100% sure until you guys questioned it lol)
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Old 4 December 2021, 04:44 AM   #8703
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they don't, and selling options to get into other options doesn't count as a wash sale as well as long as the strike or expiry is different. bold move though

Ha Ha. Its only 3 contracts; one for each one of my accounts.

I also hear that you can buy cheaper first and then sell to flush the old expensive lots out using FIFO during this time of the year. Just have the last transaction as a sell registered so there is no higher previous cost basis to add to a buy transaction. Maybe someone can correct me if I am wrong..
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Old 4 December 2021, 04:47 AM   #8704
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I always thought they did. As long as you sell a stock or any derivative of it at a loss, any purchase within 30 days of any derivative initiatives a wash sale? I’m like 90% sure (was 100% sure until you guys questioned it lol)

I guess I will find out. Thought because the ticker symbols are not the same between shares and derivatives so no way to “marry” them together for wash sale accounting.
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Old 4 December 2021, 05:00 AM   #8705
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I guess I will find out. Thought because the ticker symbols are not the same between shares and derivatives so no way to “marry” them together for wash sale accounting.
From my understanding, if the new purchase is “substantially identical” to the original loss, then it triggers the wash. I could be wrong but it’s what I’ve thought to be true from what I’ve looked into before. Guess we need to get to the bottom of this to know for certain.
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Old 4 December 2021, 05:03 AM   #8706
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From my understanding, if the new purchase is “substantially identical” to the original loss, then it triggers the wash. I could be wrong but it’s what I’ve thought to be true from what I’ve looked into before. Guess we need to get to the bottom of this to know for certain.
My reporting from IB gives me a total number for wash sale and never break it down. Anyone who also uses IB here can help me check it out so I can confirm? Already did it so am happy to share findings.

1. So that is for a new purchase which triggers wash sale process.

2. What about buying first at a lower price then sell?
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Old 4 December 2021, 05:30 AM   #8707
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From my understanding, if the new purchase is “substantially identical” to the original loss, then it triggers the wash. I could be wrong but it’s what I’ve thought to be true from what I’ve looked into before. Guess we need to get to the bottom of this to know for certain.
from what i read, a different strike or expiry makes it not an identical position so it doesn't count. earlier this year i repositioned some baba options by closing some 2022s and rolling them into 2023s and did the same for a few other stocks (closed at a loss to open better longer dated options). my cost basis documents on td ameritrade for with and without wash sale adjustments are identical, so judging off that it only applies to if you sell shares of a stock and buy back the same stock or sell options and buy back into the same expiry and strike
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Old 4 December 2021, 06:23 AM   #8708
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some solid news here today on SABR, BIG multi million dollar 10 year partnership with American Express, will go above and beyond covering the loss in expedia business. See this as a really positive catalyst, too bad it is announced on a blood bath of a day.

Sabre and American Express Global Business Travel announce multi-year technology partnership to advance corporate travel

GBT plans to make multi-million dollar long-term annual investment in joint technology development with Sabre

- Two thought-leading companies plan to develop distribution ecosystem for corporate travel industry

- New agreement anticipates meaningful growth in GDS bookings through Sabre
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Old 4 December 2021, 06:47 AM   #8709
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Took some nibbles on a few names today including MTTR (long long term hold) but want to hold on the sidelines for a couple more trading sessions.

Good thing is the transition from this thread to the Whisky thread will be seamless tonight…
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Old 4 December 2021, 06:49 AM   #8710
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from what i read, a different strike or expiry makes it not an identical position so it doesn't count. earlier this year i repositioned some baba options by closing some 2022s and rolling them into 2023s and did the same for a few other stocks (closed at a loss to open better longer dated options). my cost basis documents on td ameritrade for with and without wash sale adjustments are identical, so judging off that it only applies to if you sell shares of a stock and buy back the same stock or sell options and buy back into the same expiry and strike
hmm thats interesting and I should probably pay more attention to my own year end tax docs... I barely glanced at last years because it was like 300 pages long But if true, essentially what you're saying is... sell all my losers to my heart's content
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Old 4 December 2021, 07:02 AM   #8711
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from what i read, a different strike or expiry makes it not an identical position so it doesn't count. earlier this year i repositioned some baba options by closing some 2022s and rolling them into 2023s and did the same for a few other stocks (closed at a loss to open better longer dated options). my cost basis documents on td ameritrade for with and without wash sale adjustments are identical, so judging off that it only applies to if you sell shares of a stock and buy back the same stock or sell options and buy back into the same expiry and strike

https://fairmark.com/investment-taxa...s-and-options/
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Old 4 December 2021, 07:09 AM   #8712
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So its this author’s opinion? Depends on what broker shows and go with it.
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Old 4 December 2021, 07:09 AM   #8713
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interesting, so i was wrong then. selling stock at a loss to buy options is a wash sale, but selling options at a loss to buy different options of the same stock is still up for debate with regards to what is considered "substantially identical"? that would explain why i see the same numbers on the documents for with and without wash sale adjustments on my broker
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Old 4 December 2021, 07:13 AM   #8714
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hmm thats interesting and I should probably pay more attention to my own year end tax docs... I barely glanced at last years because it was like 300 pages long But if true, essentially what you're saying is... sell all my losers to my heart's content
yeah i don't usually bother reading them either, too many numbers lol. i just remember reading about what happens if you close options at a loss to roll them out and checked the document a few days later to see if it counted as a wash sale and it didn't, but i don't know how it would be on other brokers
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Old 4 December 2021, 09:17 AM   #8715
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sofi getting beat up every day
This is one I can't quite wrap my head around.

Sent from the voices in my head and transcribed by their drinking buddy.
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Old 5 December 2021, 01:23 PM   #8716
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Fear of missing out is replaced by fear of staying in as crowded momentum stocks are purged.

Courtesy of CNBC.
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Old 7 December 2021, 12:39 AM   #8717
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Old 7 December 2021, 01:02 AM   #8718
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Some stocks totally redeeming themselves now lol. What volatility
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Old 7 December 2021, 04:38 AM   #8719
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so... blood red tomorrow? lol
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Old 7 December 2021, 06:02 AM   #8720
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so... blood red tomorrow? lol
I'm buying today so absolutely. I only buy on huge green days and sell on huge red days.
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Old 7 December 2021, 06:13 AM   #8721
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I'm buying today so absolutely. I only buy on huge green days and sell on huge red days.
that's the way
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Old 8 December 2021, 01:26 AM   #8722
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Green EVERYWHERE today boys on back to back days too, hope I am not dreaming.
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Old 8 December 2021, 01:36 AM   #8723
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Green EVERYWHERE today boys on back to back days too, hope I am not dreaming.
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Old 8 December 2021, 01:44 AM   #8724
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Old 8 December 2021, 01:48 AM   #8725
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so much green that we even have this :



feels wrong
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Old 8 December 2021, 01:53 AM   #8726
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so much green that we even have this :



feels wrong
hahaha I actually hit refresh to make sure it wasn't an error. Any news there? Looks like lower vol run.
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Old 8 December 2021, 02:00 AM   #8727
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so much green that we even have this :



feels wrong

Lol, definitely feels wrong.


Sent from my Apple privacy invasion product
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Old 8 December 2021, 02:10 AM   #8728
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hahaha I actually hit refresh to make sure it wasn't an error. Any news there? Looks like lower vol run.
don't see any news. maybe just finally going back to a somewhat relative value? or maybe i'm just too optimistic
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Old 8 December 2021, 04:22 AM   #8729
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As much as I hate MF, I think this is a great piece highlighting 8 oversold biotechs which are poised for a comeback, especially given how beaten down XBI has been this year. Note the shoutout to AUPH, up 8% today getting ready to breakthrough $21 and ATEC on a nice run. From the below, I have been researching ADAP, AXSM and BCRX.

The market's "man with a hammer" attitude toward pharmaceutical stocks has arguably created some truly compelling buying opportunities for patient investors, however. Here is a brief overview of eight pharmaceutical stocks (listed alphabetically) that have fallen way too far this year, making them top buys leading into 2022.


1. Adaptimmune Therapeutics (ADAP) Adaptimmunes's shares are thus trading at less than 2 1/2 times the company's last stated cash position, and close to their 52-week low right now. With multiple partnerships in place and a regulatory filing on the near-term horizon, the stock should roar back to life in 2022.

2. Affimed Therapeutics
Affimed Therapeutics ( AFMD 6.31% ), a German cancer immunotherapy company, has seen its shares wilt by 46.5% from their 52-week high set back in the second quarter of 2021. This sharp decline occurred even though the company posted outstanding early-stage trial results for its innate cell engager AFM13 in patients with recurrent or refractory CD30-positive lymphomas earlier this year.

Under normal market conditions, this clear-cut win in the clinic probably would have resulted in a sustained rally. Instead, Affimed's shares are being valued at just 1.2 times AFM13's peak sales projection for its first potential indication. This dirt-cheap valuation is the reason Wall Street thinks the biotech's shares could more than double in value over the next 12 months.

3. Amicus Therapeutics
Shares of the rare-disease drugmaker Amicus Therapeutics ( FOLD 4.43% ) are down by over 55% from their 52-week high right now. The orphan-drug specialist took a big hit back in February after announcing late-state trial results for its Pompe disease candidate AT-GAA. Since then, Amicus has decided to sally forth with regulatory filings for the therapy in both the E.U. and the United States.

What's noteworthy about this stock is that it is presently trading at roughly 5.4 times 2024 projected sales under a worst-case scenario. That might sound like a rich valuation, but it is among the lowest within the highly coveted orphan-drug space. Amicus' stock, in turn, should be among the first to rebound once the negative sentiment surrounding biopharma dissipates.

4. Aurinia Pharmaceuticals
Aurinia Pharmaceuticals ( AUPH 6.27% ) stock is off of its 52-week high by a whopping 42.1% at the moment. The autoimmune-disease specialist has reverted to the mean in recent weeks after filing a $250 million mixed-shelf offering with the Securities and Exchange Commission, which some investors took as a sign that a buyout was off the table. Because of this sharp pullback, Aurinia's stock is now trading at only about 2.4 times the 2025 sales projection for its lupus nephritis medication Lupkynis. Buyout or not, Aurinia's shares are arguably a steal at these levels.

5. Axsome Therapeutics
Axsome Therapeutics ( AXSM 5.50% ) stock is now trading at a 60% discount compared to its 52-week high. Investors hit the exits on this biotech stock after the FDA notified the company that it couldn't complete a regulatory review for the experimental drug for major depressive disorder AXS-05 due to deficiencies in its regulatory application. Several months later, the FDA has yet to hand down a final decision on AXS-05.

On the bright side, management thinks these deficiencies can be addressed during the current review cycle. If true, Axsome's shares ought to mount a furious comeback in 2022. Wall Street, after all, has pegged AXS-05's peak sales for major depressive disorder at a whopping $1.3 billion.

6. Beam Therapeutics
The stock of Beam Therapeutics ( BEAM 16.02% ), a clinical-stage genetic base-editing company, has shed 48% of its value relative to its 52-week high in recent weeks. The good news is that Beam hasn't reported any major clinical or regulatory setbacks. Rather, investors seem to be backing away from this biotech mostly because of its sky-high valuation. Beam currently sports a market cap of $4.7 billion. That's definitely a rich valuation for a biotech with an unproven platform, especially for one that is just now entering human trials.

That being said, Beam's stock could turn out to be a bargain if its novel genetic base-editing platform strikes gold in the clinic. Data from its first clinical candidate, BEAM-101, should be available sometime in 2022. The company plans on trialing the therapy as a treatment for the rare blood disorder sickle cell disease.


7. BioCryst Pharmaceuticals
Shares of BioCryst Pharmaceuticals ( BCRX 8.59% ), a mid-cap rare-disease drugmaker, have slipped by 36% from their 52-week high of late. BioCryst's stock, however, should arguably be moving in the opposite direction based on the blistering sales growth for its hereditary angioedema drug Orladeyo.

The biotech's shares are trading at roughly three times Orladeyo's peak sales estimate, and well under three times the net present value for the whole of its pipeline and product portfolio. That's an incredibly cheap valuation for a high-growth pharmaceutical stock.

8. BridgeBio Pharma
BridgeBio Pharma ( BBIO 1.30% ) stock is down by a hefty 45.6% relative to its 52-week high at the time of this writing. The company's shares have steadily marched lower in the second half of 2021 due to competitive concerns about its experimental amyloidosis drug, Acoramidis, which is slated to yield data before year's end. While industry insiders are largely expecting this late-stage data to be positive, some analysts aren't convinced that the drug can compete effectively against rival therapies. That's a potentially major problem. Acoramidis is easily BridgeBio's most important value driver, with its net present value estimated at a whopping $3.5 billion, according to a recent report by Evaluate Vantage.

BridgeBio's stock could soar if Acoramidis' trial surpasses expectations. Wall Street's current consensus price target, in fact, implies that the biotech's shares could more than double in value over the next 12 months.
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Old 8 December 2021, 05:30 AM   #8730
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FYI… $bbig

Not sure if this fella is good.

https://twitter.com/ihors3/status/14...673085952?s=21

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