Driving Lyft more often.

Tom Oldman

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Just got out of the forum correction facility couple of days ago. It won't last long as I could never keep my mouth shut, you know.!.? with that freedom stuff….

Now to the subject of this post and I can't believe myself writing this. Lately, against my belief and just to give Fuber that famous finger, I have been using Lyft more and more and I think Lyft noticed it (I'm not really sure if they care) and they are througing some bones with actual meat my way such as airport rides, short distance pickups and so on.

It was time for me to sharpen my pencil, do some calculations and keep emotions out and wear my logic hat.

Overall and in average I made about 10% more than comparable Uber trips with their new outrageous $0.60/mile rate. Paxs were not much different from the big brother. Tipping also the same. But, (now here is that notorious “but") each time I turned on the Lyft app, I reminded myself of their $2500 deductible and we should always be aware of that, it can really get nasty, I hope never! Other than that, it's just the famous 3 Rs, Risk Reward Ratio. Is the little more money worth the risk? I haven't found an honest answer. I let you to be the judge.

Oh, I almost forgot, on the second day the Lyft stock options become available, I bought some In-the-money Put options, sold them today and made some good money (not to offend the experts, please be aware trading derivatives such as options can be extremely risky, just saying.)

Other than that, the prison (forum correctional facility) food was good and I had a sexy female cellmate… yuuum.

BORN IN FREEDOM, LIVE IN FREEDOM and DIE FOR and IN FREEDOM.

God bless all my fellow drivers.
Drive safe.
 

1.5xorbust

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I have 15 career trips with Lyft. That’s exactly the point at which I found out on this forum that there is a $2500 deductible. Congrats on your lyft profit. What were your buy and sell points?
 

Tom Oldman

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  • #3
I use the ThinkorSwim trade platform on my computer and I have bunch of other stuff on there. I believe (as I'm not at my trading station on my computer right now.) the entry was around 71 and exit was at around 68 and change. I use the Prophet's chart signals and base my trades on technical conditions on the TOS chart such as Acceleration bands in connection with PrecentR or WillianPrecentR which is almost the same. The stuck implied volotilty is still relatively high at 63. The stock could be channeling between 75 and 65 and if that continue the volotilty will go down and most out-of-money option may become losers without a decent volotilty. Please, please, take all of this with a huge grain of salt and consult your financial advisor for any trades.
Drive and trade safe.
 

Tom Oldman

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I see it’s down 4% today. Where do you think the stock will be in three months?
Short answer; I really don't know.
I haven't seen an IPO, as long as I remember to be predicable, not even in the next 3 days.IPOs are perfect trade vehicles for short sellers and option traders love them for the volotilty they present. I honestly couldn't answer that. I'm a swing trader buy and sell within days and I have a hard time to foresee those 2 or 3 days. But if I get a gun pointed at me asking for an answer, I would say, it depends on two factors:
Earning, in this case more losses or less losses. Second; the big "Enchilada" Uber IPO which also will become a great trade vehicle for short sellers.
i strongly recommend to stay clear from both IPOs until the implied volotilty falls below at least 35% If one absolutely must buy Lyft or Uber stock, I would secure it with a 4-5 points put Outofmoney and finance the purchase of the put with selling a 4-5 points out of money call. Again, please don't do any of this, it's doomed to losing money. It's an absolute gamble. Consult a professional and trained finance advisor which I'm not by a long shot.
 
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