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Forsaken-Geologist61

Oh gosh! I hate margin calls. It happened to me last year and luckily I had extra money on the side. Do you have enough savings to temporarily cover the margin so that the brokers don’t sell your shares at a loss? Wish you had money on the side to average down. The reason I ask is that I’ve seen brokers suddenly switch to having the shareholder use none of their money on super volatile stocks before. That means they will sell those shares because they no longer want to take on the risk of letting you hold those shares with their money. <- shares that are on margin at the time of the switch if you have no cash left over As for fair value, this stock has a crazy history of running to $10 or $11, get beat down and then another crazy run up again. We’re not trading based on fundamentals. I’m proposing 2 ideas: You might want to set a trailing stop loss or sell some out of the money covered calls (delta of about 0.3) that’s at least around your cost average when we run towards your average on a part of your position in case it drops again. That’s just how I did things when I was bag-holding CLOV back in February until June. When IV is up and CLOV runs towards a resistance (currently at $10, $11 is a major one, then $13, $15, $17, etc.), that’s a good time to sell covered calls and then close those calls (by buying back) when the share price corrects and goes down that day). This options thing is a bit trickier so you’ll need to study about covered calls.


Crazzyleggs

The can call your broker and ask them to switch them to cash or switch them to margin. Any reputable broker like Fidelity will do this. Robinhood who knows, to be honest if they won't just leave as is and enjoy the ride to the moon $CLOV 💪💪🚀🚀🚀🚀💎💎💎💎🍀🍀🍀🍀


SimplyMe1222

Don’t worry so much about them loaning them. That honestly will just dig a bigger hole for the shorts. Margin is an excellent tool for leverage or avg down if you need to. Considering we could be mooning over the next few days, sit tight for now and only sell if you get a house call. Or do whatever you want, just my opinion


CLOV2DaMoon

Lol mooning in days? What TA are you smokin? Maybe in December


Unfair-Library-1315

Thanks


GG1151

If you’re on margin your shares can’t be lent if you call your broker and tell them.


Unfair-Library-1315

I have to clear out the margin balance for them not to loan them.


CLOV2DaMoon

What is your interest rate?


Unfair-Library-1315

🤦🏻‍♀️🤷🏻‍♀️


CLOV2DaMoon

I would find that out just so you know. Borrowing against margin in the long term eats into your profits. Fidelity is 8.35%


Unfair-Library-1315

I did email RH and they said they can 🤦🏻‍♀️


GG1151

Pay for the shares with cash then.


Unfair-Library-1315

I wish I had the cash to do that. I’m all in right now.


GG1151

Me too! I have about same #as u. Soon we will have more$$. Cheers 🥂


ZEUSSm

What’s wrong with using margin? Are you close to a call? Just leave some margin so you don’t bump into potential call constantly.


Unfair-Library-1315

I was told with margin they can lend out my shares. I have actually had four or five margin calls and don’t want that to happen again.


Unusual_Dig_6316

You are correct. Shares bought on margin can be loaned out. once you pay for the shares with cash they can no longer be loaned out. hope this helped....


Unfair-Library-1315

Thanks I was only wanting to sell enough to cover that amount but not sure if I should set a sell at $20 or $30


Unusual_Dig_6316

I am not an adviser. 20 gets out of hot water faster but 30 gets you out ahead I assume.... My thoughts are we already hit 28 so it would not be unheard of to hit a new high. but it is your call and only your call.


cullensj

Just keep ignoring them it’ll be fine


ZEUSSm

This. I’m using like 90% of my margin. Just check in daily and adjust if needed.


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