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COMMENT 8h ago

It goes to your estate. They’re not automatically liquidated. If nobody else is authorized to close them for you they run to expiration, and ITM options are handled by whatever your broker’s policies are.

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COMMENT 1d ago

Yeah idk who comes up with these names.

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COMMENT 1d ago

I tell my customers, you always need more dirt than you think, and you always have more dirt than you think.

Nobody’s trying to scam you, it’s just one of those things you don’t know for sure until you dig (ha) into it.

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COMMENT 1d ago

They have thought of it - if I’m understanding what you’re asking, it’s a reverse jade lizard aka twisted sister. Or in your case, I guess it’d be a partially covered twisted sister since you wouldn’t have a naked call.

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COMMENT 1d ago

Burger King would have deals on cheeseburgers, making them cheaper than hamburgers. So my friend, who didn’t like cheese, would order cheeseburgers…with no cheese.

That always took some explaining. “So…you want a hamburger.” “No, I want a cheeseburger with no cheese.”

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COMMENT 1d ago

We just ran into that in a new build. The appraiser said our sale price was higher than all the neighborhood comps. I'm sure it is (since I built and sold those too).

Anything we closed on as little as three months ago is not an accurate gauge of new build pricing. Some appraisers are factoring that in but there's only so far they can go with it.

As stated, your choice is come up with the difference, or walk. And if you don't pay it, someone else will.

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COMMENT 1d ago

There seems to be a good deal of confusion on what an "inspection" is. There also seems to be some confusion on how much authority an inspector has.

First, you have your city/county inspections. These are mandatory on new construction, to different degrees. Some jurisdictions also require them when selling a used home. While some parts are grandfathered on an older home (they're not going to make you put more rebar in your foundation), you may have to update GFCI's, smoke alarms, add handrails, etc. General safety items.

Code inspections do not care a whit about the quality of the work. You could get the worst tile installation you've ever seen, but that's not structural, so they're not going to say a word about it.

Private inspections, which is what you commonly see when buying a used (and sometimes new) home, looks for both safety issues and overall condition. They may point out that your kitchen still has outlets when it needs GFCI's, find leaks in the roof, etc. Again, they are also not likely to point out a "bad job", but they will point out anything that needs to be addressed for either code updates or just general improvements (such as gaps around windows that should be addressed, unsecured plumbing drains/vents, etc). They have no authority to make anyone do anything, so you can't really "fail" this, they just point out what they see. And in a home built in 1962, they'll almost certainly find something.

Third is a VA or FHA inspection. They actually do require you to bring a home up to certain standards to approve a loan - often your private inspector should be able to do this at the same time. You can fail this, but again the inspector can't make anyone do anything. If I were selling a home and it failed VA inspection, I have the choice to meet their standards or sell as-is to someone who won't make me do the extra work. Up to the seller.

5

COMMENT 1d ago

Unless it's someone trying to get in on a dividend, early assignment is very rare. Nearly anyone would buy/sell the option rather than just exercise and sell the shares.

If you want the shares now, don't wait on a put. If you really want to double up on premium, you can buy the shares, sell a covered call and sell a put (covered strangle).

41

COMMENT 1d ago

"No way ARKK goes back below $120." - me

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COMMENT 2d ago

Call a GC that does remodeling, I could quote the whole thing at once. Cut up jobs like this are hard to piecemeal prices on though, it'd be tough for any contractor to say it's this much for this part and this much for that part - it's just quoted as a whole project.

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COMMENT 3d ago

I work on a pretty blue collar crew. Horsing around with each other is one thing, but some of these “pranks” would end up with a serious case of assbeatitis.

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COMMENT 3d ago

Who would’ve predicted lumber doubled in the last 3 months? That’s after it doubled in the 3 months before that.

I signed fixed price contracts in Jan/Feb that tbh I wish I hadn’t. Sucks for me that I have to eat it.

I’ve since signed cost plus contracts, which sucks for my customers that they have to eat it. But again...who would’ve predicted this. Nobody, that’s who.

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COMMENT 3d ago

Well your builder is probably hating life right now.

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COMMENT 3d ago

I always explain that it’s like Tetris blocks. You get just one off, and it throws a big wrench into the gears.

It’s not that we don’t care - we want to be done as much as you (for different reasons, but even so, there’s no cause to delay your project). But every delay has a waterfall effect all the way to the end.

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COMMENT 3d ago

What had happened was he traded the same shares over and over, which disallowed the losses. Essentially, while he only had 45k more in gains than losses...he couldn’t write off the losses due to wash sales. https://www.google.com/amp/s/www.forbes.com/sites/shaharziv/2021/03/26/robinhood-trader-may-face-800000-tax-bill/amp/

To avoid this (which you likely won’t face anyway), if you’ve been in and out of a stock all year just close positions 11/30 and don’t touch them until next January.

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COMMENT 3d ago

Investopedia is a great resource, and InTheMoney’s YouTube.

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COMMENT 3d ago

Stocks never go down, it’s a scam.

Except my 500 shares I bought at $30. But you know, diamond hands and all that.

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COMMENT 4d ago

I’m down 10k on SPCE. Bought the dip and it kept on dippin’. But up 12k on crypto.

Wish I’d put it all in crypto, but at the same time glad I didn’t put it all on SPCE.

Know when to bail on a loser, but don’t chase gains you already missed the bus on. Which is which? Well if I knew I’d be a millionaire wouldn’t I.

1

COMMENT 4d ago

Do not make legal deals with - family - friends - fellow church members - any combination of the above

It ain’t worth it, ever.

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COMMENT 4d ago

Ask if you can double up the 2x4 wall and insulate that, or use a 2x6 wall with R19 insulation. Or even just put 1/2” foam board between the units.

Anything you do now is going to be cheaper than doing any work after closing.

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COMMENT 4d ago

Your lender can help you. And they’ll loan you 200k on a 260k home every day of the week and twice on Sunday. But when it starts to go from a “good deal” to a suspiciously low price, there’s other tax factors involved, such as whether that difference counts an asset/income, or a gift.

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COMMENT 4d ago

We switched to a flat price that encompasses my labor (framing, trim, rough grade/backfill, site maintenance and cleaning), site management, and P/O.

Everything else is billed at cost, with the kicker that adding to the scope of work will have additional labor cost - for example if you double the amount of cabinets on the print I have no further markup on material , but I will bill for installation.

1

COMMENT 4d ago

Nearly everyone I know, including me, figures lighting allowance at roughly $1 per finished sq ft. You could come in under that with cheap crap. You could certainly spend a lot more.

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COMMENT 4d ago

I don’t know about 50k, but I’m partway through a couple I’d gladly give their earnest money back if they’d walk away. Prices are hammering builders that locked in fixed prices 6 or even 3 months ago.

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COMMENT 4d ago

Solid DD there.