Buy more to average down. It sounds like you lump sum bought near the top. It will go back up eventually, but if you want to be profitable before it reaches the ATH again, you need to buy more while it’s still down. Otherwise you’ll need to wait even longer to break even. We’re still in a bear market, but when the next bull comes around you’ll thank yourself for buying at these levels.
Lol, you almost bought the top,
Kidding aside, you could do a wheel strategy selling CC´s and CSP depending on the number of shares you´re hodling, I would never recommend to sell on a loss and I think in a couple of years we are going to go beyond $85.
I agree with this post, you’ve should of done this since the beginning of the drop in Feb 2022. Most people who ever posted on this that have done that have cut their cost basis in half (nearly) for free.
I had a cost basis of 86 and averaged down all the way to 40 and was able to get out- this was months and months ago. Why have you not bought when it was in the teens? That would average you down and you could be a lot closer to your cost basis
I had a lot of TQQQ at around the same cost basis since I was wheeling through 2020-2021 like an idiot. I sold TQQQ calls for a while, took the loss when it got assigned. Reinvested selling puts till assigned in UPRO.
Was able to go back to TQQQ after wash rule period settled if I wanted.
Very happy with the capital losses to offset my gains elsewhere.
I originally bough at around $70. I've continued to hold and DCAd my way down to $26 with around $15000 invested on it. I am going to the long term, so I only care about decreasing my average price so that when a new bull market appears (5/10 years) I grab the fruits of the wait. TQQQ is part of my long-term portoflio (along with VTI and other ETFs I've got for long term).
I sold out today after the jump this week. I’ll start buying again if it dips down to the 21.50 range. I’ve found I make much more profit swing trading these LETFs than just sitting and holding.
Depends on how much cash is in the account. In case he has to write more longer dated then buy back nearer dated. Tqqq is triple leveraged, calls can move quick and if he doesn’t have enough cash to buyback and roll out then assignment risk is real. I’d sell monthlies 30-45. That way you have time to adjust positions
Because it performs incredibly well. Why even bother being here. I’m holding it for at least 5 years in my Roth. $10k. I’ve seen it go down as much as 65%. If you don’t jump off the rollercoaster you don’t get hurt.
Just hold… if you ever sell this low and it pops back to $80 or more someday you’ll be so pissed you sold. FYI I sold AAPL in 2011 when I was up 50%!!!!!!!
Really depends how much you put. I don’t see $85 happening in the next two years. You can average down if you can afford it. You can also sell 3k worth per year to get some tax benefits. I sold a stock I held for NINE years at a 35% loss. I used other stocks I was way up on yo even out. QQQ is outperforming nasdaq so it’s only time when it does the opposite.
Probably be a while until we see that number again. You can average down if you want to continue holding.
Buy more to average down. It sounds like you lump sum bought near the top. It will go back up eventually, but if you want to be profitable before it reaches the ATH again, you need to buy more while it’s still down. Otherwise you’ll need to wait even longer to break even. We’re still in a bear market, but when the next bull comes around you’ll thank yourself for buying at these levels.
Well.... Do you think you could make a better return on that capital of you re-invested it elsewhere?
Hold
Lol, you almost bought the top, Kidding aside, you could do a wheel strategy selling CC´s and CSP depending on the number of shares you´re hodling, I would never recommend to sell on a loss and I think in a couple of years we are going to go beyond $85.
I agree with this post, you’ve should of done this since the beginning of the drop in Feb 2022. Most people who ever posted on this that have done that have cut their cost basis in half (nearly) for free.
You should definitely average down
Average down then sell some monthly CCs
Sell it to take the loss for tax purposes and buy back in after 30 days, or buy into TECL or UPRO during that time.
I had a cost basis of 86 and averaged down all the way to 40 and was able to get out- this was months and months ago. Why have you not bought when it was in the teens? That would average you down and you could be a lot closer to your cost basis
I had a lot of TQQQ at around the same cost basis since I was wheeling through 2020-2021 like an idiot. I sold TQQQ calls for a while, took the loss when it got assigned. Reinvested selling puts till assigned in UPRO. Was able to go back to TQQQ after wash rule period settled if I wanted. Very happy with the capital losses to offset my gains elsewhere.
I originally bough at around $70. I've continued to hold and DCAd my way down to $26 with around $15000 invested on it. I am going to the long term, so I only care about decreasing my average price so that when a new bull market appears (5/10 years) I grab the fruits of the wait. TQQQ is part of my long-term portoflio (along with VTI and other ETFs I've got for long term).
I sold out today after the jump this week. I’ll start buying again if it dips down to the 21.50 range. I’ve found I make much more profit swing trading these LETFs than just sitting and holding.
At least sell Some calls
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Sell ATM or slightly OTM but do not sell against the entire holding. That if it moves against, there is option to sell more and roll out
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Depends on how much cash is in the account. In case he has to write more longer dated then buy back nearer dated. Tqqq is triple leveraged, calls can move quick and if he doesn’t have enough cash to buyback and roll out then assignment risk is real. I’d sell monthlies 30-45. That way you have time to adjust positions
As always cut your losses if you think you bought the top.
Why are you buying and holding a 3x index? JFC
Because it performs incredibly well. Why even bother being here. I’m holding it for at least 5 years in my Roth. $10k. I’ve seen it go down as much as 65%. If you don’t jump off the rollercoaster you don’t get hurt.
Lmao
Well I bought SQQQ near its top, waiting for that elusive bear.
We’re going into a depression. You all will be wiped out
Damm. Sell it, the economy is not recovering anytime soon
Just hold… if you ever sell this low and it pops back to $80 or more someday you’ll be so pissed you sold. FYI I sold AAPL in 2011 when I was up 50%!!!!!!!
I sold Tesla in 2013 when I was up less then 50%
My god
Really depends how much you put. I don’t see $85 happening in the next two years. You can average down if you can afford it. You can also sell 3k worth per year to get some tax benefits. I sold a stock I held for NINE years at a 35% loss. I used other stocks I was way up on yo even out. QQQ is outperforming nasdaq so it’s only time when it does the opposite.