I bought some shares on Monday and plan to hold long term. So far I like the business case and management's execution of strategy. If anybody else has invested in this company, please chime in here or send me a PM.
I am interested in what you find out about its trading pattern. Today's low was below my cost basis. I was tempted to buy more but I curbed my enthusiasm not understanding its price movements. By the end of the day it was 20% higher.
It has gone up more than 10% within days of each time I bought but I do not sell for fear of not being able to buy back at a lower price. (As an aside, I had bought Fakebook at $19+ and quickly sold for $25. I disliked the product and business and never imagined it would be so successful - I underestimated people’s need for opioids! Also, my benchmark for cut throat businessmen, Murdoch, failing to monetize MySpace blindsided me about Fakebook’s potential. So, I am a bit hesitant to take quick profits in BMBL, but options play may get me to where I want to be.)
P.S.: I did sell all my PIMCO CEFs 2-3 months ago, except for a few thousand PDO in a taxable account as an experiment. I do not invest for income per se. The PIMCO NAVs have stagnated for a while and so I saw no particular reason to hold them like long term investments. As you said if there are better choices for income without the same amount of capital outlays & without the same amount of time, why risk more. If you do not mind, please start an options thread. I certainly would like to learn more.
Several years ago I was actively trading options but fell out of the habit when I was influenced by capecod to get into Pimco CEFs. It was a lot less work. Now with the Pimco all sold and most CEFs throwing off no more than 6 or 7% I've returned to options with a small portion of my portfolio. (I've gotten used to the income and I suck at fundamental analysis.)
As before, the goal is a steady stream of income at minimum risk by shorting near-term options, exiting quickly and repeating WITHOUT GREED. Setting up credit spreads minimizes tail risks but diminishes returns.
Short term options trading does require attention, but not to the point that day trading does. With day trading I don't feel I can leave my screen for more than a minute or two until the position is closed out -- but with many credit spreads I'm comfortable setting up mid morning and just checking in once or twice during the day and frequently (not always) closing out before 4:00 the same day. I'm not so cavalier when short a naked option, but even so, I don't feel so glued to the monitor as I do day-trading.
ASSUMPTION #1 To my knowledge there has never ( or certainly VERY rarely) been a really big market move involving index options that showed no sign of beginning until after 10:30 AM (I actually believe 10 am, but I try to be very conservative.) So the technique I use is to use technical indicators at 10-10:30 to determine where the stock or index will NOT go that day. If the morning has been exceptional with a big upcoming news event, I forget about options. If a bunch of large cap stocks are coming out with earnings announcements that day, I take a hike as well.
ASSUMPTION #2 Historically, there have been sudden intra-day enormous moves downward in indexes (think Kennedy assassination, for example) but never a sudden mid-day explosion upward. (Think about the implications.) My favorite vehicles are SPY, AMZN and AAPL options.
I use the thinkorswim.com platform for all my charting. More stuff there than I'll ever use. But among all their sophisticated software indicators, I have boiled it down to three chart overlays that I use consistently. But anyone can set up a perfectly usable technical system on good ol' yahoo.com. (Cannot overstress: keep it simple and don't be greedy.)
I don't feel comfortable reporting trades or publicly discussing details online, but chang can give you my email address and we can bat particular nuts & bolts around if you wish. There are also a lot of youtube presentations discussing the practice.
Lastly, shorting options is not something I recommend. It's just something I do.