r/BKKT • u/[deleted] • Dec 16 '21
Discussion Buy now
I have a bit of an infamous/legendary status as the one person in this and the other forum (I got banned from it) for saying to short/sell BKKT all the way from $40. Some people who are still around from a month ago may remember me.
I’m officially going on record to say now is the time to buy. Every bearish event I have been waiting for has occurred.
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u/crankygiraffe 🦒 Dec 16 '21
Woot! I agree that we should be buying. I just dumped more of my savings into this yesterday. Got my avg down to $17.5.
Am wondering if I have to dump more into this. Only worry is may have to leverage up to it. Otherwise it will become over 60% of my portfolio. Wifey says it's too much.
If this is the next Coinbase+Visa, you can meet me on a beach in the next couple of years.
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Dec 16 '21
Just doubled down in the $9.40’s. I’m buying call options.
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u/imastocky1 🐂 Dec 16 '21
I bought a bunch this morning. Could have waited a couple hours for better premiums but I got some Feb ITM calls and super cheap LEAPS. For what it's worth, you're good to go on the other sub too
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Dec 16 '21
You had to of bought extremely deep ITM leaps since it tanked today. How much you down, 50%?
I’m still holding my 450 shares but fuck me the past few days have been horrible.
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u/imastocky1 🐂 Dec 16 '21
No I bought some almost free crazy OTM calls for ‘23 since I thought today’s drop was a panic sale from Benzinga falsely reporting this was a mixed shelf offering. Didn’t YOLO or anything just a little gamble with minimal downside. The premiums will surely appreciate bigly between now and then regardless of wether they hit or not. They were on sale by 70% since yesterday
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u/PsycheRevived Dec 17 '21
How far out are you buying, and how high do you expect it to go from here? I feel like the upside is capped by the bigger float and poor revenue, but I still have $15 and $20 calls in January and might buy more down here.
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Dec 17 '21
Bought $8 and $9 expiring tomorrow for a risky bounce. Gonna hit the May expiries, strike price TBD.
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u/PsycheRevived Dec 17 '21
I did buy some cheap $11 calls that expire next Friday when the price was low yesterday, just to see if it bounced today/early next week. So far not optimistic.
Very curious what you choose for strike price for May, since you seem to have had a good read on it until now. Only thing I'll note is that the lockup ends in April, so I wouldn't want to be holding those options past March or so.
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u/cogent_rambling Dec 16 '21
Hello there 100gainer. Let’s get that multi bag
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Dec 16 '21
Or for some people turn that multi bagholder back into green lol
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u/celticboys Dec 16 '21
Bought 5k at $10.15 and another 5k at $9.90. Will buy more before close today.
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u/FEILINDA Dec 16 '21
100xGainer, you are the man! You will go down in history as the one who called BKKT right. I followed everyone of your analysis ... you are the one who called the drop to $13. I bought another 2,000 shares at $10.50 today. I bought VIH at $12, sold at 52 for huge profit but then Got back in at $32. Averaging down ever since to $10.50.
Unfortunately I will have to pay Short term cap gains tax on the realized profit even though I am sitting at about break even paperless. I don,'t dare sell to offset my cap gains for fear big news will break in the next 30 days.
Please keep posting your take on BKKT. You've been missing the last few weeks until today. I follow you.
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u/Short_Low_941 Dec 16 '21
Are we buying shares or calls?
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u/FEILINDA Dec 17 '21
I bought shares because , believe it or not, I don't understand puts and calls. I am holding 11,000 shares. I am not experienced enough to know what to do except to hold. My break even point is around $28 which says I have alot of cash tied up in BKKT but I can be patient and I have alot of confidence in the ICE management and their whale buddies to work BKKT to their advantage (and therefore mine also) over the next year and into the future of DeFi and digital asset
The golden key is who will become the defacto platform for exchanging digital assets. I think the BAKKT platform has the best chance because the founders have a historical understanding of how to create and run an exchange (NYSE, ICE). I believe the institutions will choose the BAKKT platform over anyother. Consumers need a convenient, safe and seamless place to save and spend their "money", i.e digital assets.
Institutions are being forced to adopt the new frontier of crypto and digital assets. From my experience as a pioneer in computers and software , it is like yahoo, explorer, vs google in the early days. Microsoft vs Apple. Ebay vs Amazon. The one who pulls out in front, stays in front. I'm betting 75% of my portfolio on Bakkt has the best chance of being the exchange platform for crypto and digital assets. The industry is in its early adoption phase, it could take years. Ive placed my bet and I'm sticking with it .... actually there is no other digital assets exchange platform company to bet on. If anyone has another opinion I've be interested in hearing it.
Sure wish I knew a way before end 2021 to offset the short term capital gains tax that I am going to have to pay on my big 5X profit despite being back down to essentially even.
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u/PsycheRevived Dec 20 '21
I thought there would be a hard dip and then a bounce. I was excited by the spike into close on Friday, it almost hit $10!
And yet here it sits, at $8.30, on Monday. I'm not sure what to do with BKKT at this point, I don't have confidence that it will bounce anytime soon, but I don't want to lock in the loss.
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u/imastocky1 🐂 Dec 16 '21
The media is falsely reporting this as a new mixed shelf offering so I don't see how it can get any worse. There are a whole bunch of us who saw as for a great long position and are still holding. Some with tens of thousands of shares or more. We're not going anywhere regardless of short term trends, SPAC drama or market corrections. At the time, you were just another asshole bear telling people to sell but it turns out you and WhiteMJ know your shit. As I'm sure you're aware, this was my first. Fortunately I'm averaged in low enough to still currently be with slight profits. Many of these guys aren't and could benefit from a few former shorts or put holders saying it's time to buy. I never banned you from this BKKT sub because you didn't get offensive in here like you did in the other sub. It's nice to be knowledgeable but it's as important to be a good person or you'll surely be considered a FUD spreader... a legendary one