SOFI is no good: with shares owned at a 15.18 cost basis and the stock near 14.75, the speaker plans to sell November 15.50 calls and aggressively lower the cost basis into earnings; a rise to the strike is acceptable, a fall below 15 is a chance to trade, and over two years the cost basis could reach zero.

SoFi position is trading up, which we now own.

And the first trade we put on was in SoFi. And what we did was we sold the October 161550 put and we bought the October 1613 put and we said we're willing to own it which we now do.

So we're going to own it at a cost basis of$,550US 32 cents is 1518. Okay. So now we're going to put in the portfolio that we own SoFi 100 shares. I don't know why it put makes me put in an expiration on stock.

That doesn't make sense. And our price is 15 bucks. 1550. Okay. So, it's really 1550, but 1550 minus the 32 is 1518 and SoFi right now is trading at um 1475. So, we're down like 50 bucks in it.

But what we're going to do and has earnings um it has earnings coming out, but what we're probably going to do is go out to like November and we're going to be aggressive with this first trade.

We're probably going to sell like a$,550 call against it so that if it comes up on earnings, it's fine, but we're going to keep lowering our cost basis aggressively to make sure that this first trade is a good one.

And um when the market opens after 9:30, we could come back to this because um here but I'm telling you on my other screen I'm saying the 1550s are going to be like.7. So then our cost basis will become we'll lower it by a$12 which would be 1448 will lower it going into earnings and be in a good position.

And then with a stock like that, if you think about it after like if you were in this for two years and stuff I stayed in business, you'll own it at zero cost basis, which is a really good place to be.

So that's the professional way to trade, you know, like you're going to be in this for a long time. You're going to reduce your cost basis. It's very comfortable. So even though the market's gone down a

Sofi, no good.

you get a stock like SoFi that falls under 15, you're like, "Yes, now we could trade so

SoFi 12 cents down.