Meta (Facebook)

[chippermon]

I own shares of META with 20% gain thanks to the recent gap up.

Considering SOL's Interim Update from yesterday and the sell order for MSFT, what would you recommend me to do with META ?

I've sold about 50% of my position (e.g. let those shares get called away by selling covered calls on them) - some of that occurred today. I'm continuing to sell covered calls on the remainder of my META position striking at about 15% delta, and not fighting terribly hard to not let them called away (not rolling these options over if they fall ITM during expiry period).

Although I am long-term bullish on the Metaverse - for me, as previously stated, it's a "when" question, not an "if" question - it's going to take time for the hardware to reach the masses at a significant level at reasonable prices for mass adoption.

Pesky humans generally overestimate the time that "software" (e.g. chattygeepee, internet, etc.) will disrupt stuff, but underestimate how long it will take the software to cause changes in material/physical reality at scale.

Another example is that it's easier to change a pesky human's thinking process (e.g. "software" for the noodles) than it is to change her obesity (material/physical reality), generally-speaking.

So Metaverse will take time. Of course, as we all know, anything can happen when it comes to stocks, so certainly META could continue going a lot higher from here, but it's not my base case.

Perhaps most importantly, Cramer (the same dude who suddenly turned bearish on META around $100) just recently turned bullish on Meta - after the run-up. JimmyC is a gr8 contrarian indicator wrt certain stocks - about 80%+ accurate, by my estimation, when he gets emotional about a particular stock (e.g. when Meta fell to about $100, he was crying on CNBC).

*****

He is Legend. SVB. BA. Etc. Oops

[AstuteShift]

What’s interesting is that META on the weekly is overbought severely but extremely bullish on the monthly.

I’d say if Meta pulls back and consolidates then it would be a great play. Considering we are close to a MOAB, any pullback would likely scare the masses severely however perfect for the astute players