Rocky’s Weekly Stock Picks
Summer ain’t over yet, but where will we invest all of our extra hours-for-dollars income? It’s tempting to deviate outside of our normal pool, but let’s not be hasty. Let’s play it smart, and safe, while we do a bit of homework and figure out what we want to diversify into, if anything, through the last quarter of the year.
RIOT - Price at $38.50~ Place those sub-$40 limit orders sooner than later. I’m personally considering cancelling a limit order at $35 and just replacing it with a market order. This is not an inappropriate time to FOMO on RIOT. After we pass $40, it’s not really going to come back.
Possibly one day, after Bitcoins are no longer a thing. Crypto will continue to be, as will blockchain technology itself. So, RIOT will probably not suffer when that day comes (far into the future).
SYY - Currently priced at $80.25, projected to $90 by year’s end. I say a strong maybe. By March would be a safer estimate, but December isn’t impossible. The ex-div is going to be something like October 1st, so there’s that. Options trade weekly, as well.
We already saw Sysco on its way to $80 and beyond, prior to Covid-19 and endless quantitative easing, so now it’s pretty much a sure thing. Buying calls will definitely be considered. No spread, just calls. A CSP would be in order, if we weren’t dirt poor.
NAK - CSPs all day. If we place a bunch of single contract orders prior to market open, we stand a good chance of seeing a 20% return in September from our puts. And, if for some reason things go sideways, we’re more than happy to take Northern Dynasty shares.
The thing with the Pebble Mine, is that it’s a for sure thing. The speed with which that happens determines largely on political factors at the moment, but nonetheless it is going forward. Perhaps ""political” isn’t the best word, though it’s not the worst. Either way, NAK plays are a must.
ET - This stock has been good to us. Rolling covered calls week to week is currently not super profitable, but the dividend helps makes up for it a little bit. We see this as bull-neutral going forward. More neutral than bull. Current price appears to be around $9.50. Under $10 is a definite buy for us, for this stock.
WKHS - This stock moves a lot like ET, but more quickly. We don’t see Workhorse ever being a major player in the EV market, but still a significant one all the same. More volatility makes option premiums juicy, but we don’t get a dividend. Cest la vie.
