Daily r/thetagang Discussion Thread - What are your moves for today?
By - satireplusplus
I am working on improving my moves/
After closing my credit put spread on spx- 4040/4000 for August (started about 45 DTE)
Yesterday i took advantage of AMZN move down and took the 17.9 3050/3000 p (credit)
Margin for each contract was 5000$ and premium 450$ / 42 DTE
I Have some strict rules about taking those moves /
1. 1.5-2 SD from the underling price
2. over 5% premium from margin
3. Ridding the primary trend
4. Looking 4 a weak spot opposite the trend
I bought 200 shares of AMC average price 45 - 9000
Sold two Covered Calls (CC) strike price 50 (July 14) for 15 each and got 3000
As I got closer to expiration date- July 7th the price of stock was just above 50 and did not want to loose the stock, luckily:
1- my CC price was down to 5.75 - total 1151
2- CCs with strike price of 60 were 11.75 with total 2348
So bought to close and then sold another CC with the strike price of 60 and expiration date of Sep 17th
9000-3000+1151-2348 = 4803/200= 24 per share.
Currently share price is 32.7
Calls price is 1.77
What would you do next?
[8/6 nudies final tally ($12.2k, 3170 contracts, $69M notional)](https://imgur.com/a/UVmSnI6)
**0DTE nudes ($1,940):**
* STO **AMD** 8/6 $129C -10X
* STO **ATVI** 8/6 $110C -100X
* STO **CVNA** 8/6 $250P and $280P -35X
* STO **DDOG** 8/6 $100P -1X
* STO **DKNG** 8/6 $75C -100X
* STO **ETSY** 8/6 $217.5C/225C/230C/240C -53X
* STO **EXPE** 8/6 $170C -21X
* STO **FDX** 8/6 $325C -2X
* STO **ILMN** 8/6 $570C -29X
* STO **LYFT** 8/6 $66C -70X
* STO **MELI** 8/6 $1330P and $1500P -16X
* STO **MELI** 8/6 $1950C -10X
* STO **MTCH** 8/6 $180C -2X
* STO **NET** 8/6 $135C and $160C -16X
* STO **PENN** 8/6 $82C -10X
* STO **RCL** 8/6 $90C -2X
* STO **ROKU** 8/6 $500C/515C/570C -86X
* STO **SE** 8/6 $405C -23X
* STO **SQ** 8/6 $232.5P -10X
* STO **UBER** 8/6 $59C -21X
* STO **W** 8/6 $215P -20X
* STO **WYNN** 8/6 $120C -8X
* STO **Z** 8/6 $130C/132C/133C/135C/170C -151X
**8/13 nudes ($1,431):**
* STO **AMD** 8/13 $170C -10X
* STO **ETSY** 8/13 $255C -10X
* STO **EXPE** 8/13 $210C/215C/220C -62X
* STO **OKTA** 8/13 $160P -10X
* STO **PENN** 8/13 $100C and $110C -20X
* STO **PTON** 8/13 $165C -10X
* STO **RCL** 8/13 $120C -100X
* STO **RCL** 8/13 $50P -30X
* STO **ROKU** 8/13 $210P/230P/245P -40X
* STO **SHOP** 8/13 $2200C -5X
* STO **SNAP** 8/13 $110C -10X
* STO **SQ** 8/13 $400C -20X
* STO **Z** 8/13 $145C/150C/155C -50X
* STO **ZM** 8/13 $570C -20X
so much ranch papi!
Next stock market crash will be caused by u/somuchranch account being blown once you get to like a billion notional value in a year or so
The Hwang way!
do you just let these expire or what? how much do you typically get to open them, do you pay commisions and do you have any rules in terms of what strike you pick to open?
Yes I let them expire worthless. Commissions are $0.4/contract. I have lots of rules but I will target 50% OTM 7DTE and then reduce the OTM % as time goes on.
$12.2k in nudies for one week? You are a god
I sold 20 calls that expired today. They were $32 covered calls. The stocked closed at $32.25 and went down to $32.10 AH. How likely are the shares to be assigned? I'm hoping they do get assigned. Also how long does it usually take on Robinhood to find out if they were assigned?
If they are 0.01 ITM at close, they will be auto exercised by the OCC unless the buyer requests them to not be.
You should be assigned by Sat
I did bad today.
I blame someone else.
It was me
The weekend is just two more flat days to get that sweet sweet premium
Weekends are priced in, there’s no theta decay
I know, just some bad humor
Interesting that I have a much higher rate of success with naked puts rather than put spread - debit or credit.
Actually, the biggest loss I have suffered so far came from my AMZN put credit spread because I got fucked by both long and short.
I cut my deep ITM AMZN credit spreads loose like a dead limb. Originally expired July 30, rolled to August 6 at a debit, price did jack shit to improve. SPX is the only thing still making me money. Funnily enough AMC was the only individual stock I was able to consistently profit off of.
I always seem to enter positions at the worst possible time. After next week, I'm loading up on SPX spreads. So everyone be ready for the S&P 500 to crash, probably.
I was looking at AMZN put credit spreads anticipating some strength with COVID fears rising again, but the trade off didn't seem worth it.
"I got fucked by both long and short."
This is the way.
Yeah. I honestly have much better success selling naked tsla, amc, hood, nvda, soxl, and tqqq puts. No more spread for me.
Spreads are great if you ride them until the end but executing them both selling and closing is a nightmare.
I was trying today to sell some spreads but I'd have to give up too much on the price so I passed. May try again Monday.
Sometimes you want to take profits but the spread won't close.
If you have the capital naked is easier to get in and out but potentially ties up margin.
Shorter term(14 days or less) = naked
Longer term(14 days+) = spreads
I too share your dislike for spreads.
* BTC - **X** 8/20 pcs, -$22/20 (90% profit)
* BTC - **PINS** 8/27 pcs, -$53/50 (50% profit)
* BTC - **ON** 8/20 ccs, -$55/50 (20% profit)
* BTC - **NET** 8/20 ccs, -$135/140 (80% profit)
* BTC - **M** 8/20 pcs, -$17/15 (50% profit)
* BTC - **FLR** 8/20 pcs, -$14.5/13 (90% profit)
* BTC - **DOCU** 8/20 pcs, -$265/262.5 (90% profit)
* BTC - **AMD** 8/06 pcs, -$108/105 (80% profit)
\- Will start closing CCSs next week.
\- Shoulda sold some CCSs today but already opened some yesterday and don't want to risk it with the Russell actually moving higher the last couple days.
\- Looking at opening a PCS on ETSY if it approaches 160, ROKU @ 365, AMD @ 100.
Would you sell an option with 0 open interest? I see some hood and sava options I would sell but they have no open interest
Only if I'm selling it to you.
I came across this sub reddit but it has been amazing content while taking a break from trading
Reminds me of the "Customer states" compilations on youtube.
lol... "pad delete".... That was probably my car when I was like 19. "Just pads please... I don't need new rotors and calipers"... driven until it just stopped working.
Only if you are not planning on leaving and riding it until expiration
One thing about options I never understood is what open interest is. What is it? What does it tell you about the option and/ or the underlying stock?
People try to read into it a lot but on the "explain it like I'm 5" understanding it is how many open contracts there are.
So for example, I sold some puts earlier this week. Let's say I like Netflix so I sell 5 puts at 500 in August. The next day the open interest will increase by 5. It's literally how many open options on that strike there are.
If I want to take profits and buy them back the open interest will decrease by 5.
Some people look into the volume, amount of open interest etc etc. I don't really dwell on the specifics bc you don't really know if they are being bought vs sold which depending on calls or puts can easily be structured as bullish or bearish. Personally I don't take any of that into consideration or even look at it but others may.
I only really use it for liquidity purposes (avoiding slippage)
More volume and/or OI = MMs/bots actually wanna play = tighter bid/ask
Open interest is how many of that option contract is open, I.e one individual/entity who is long on that contract matched with one who is short. OI numbers are as of EOD on the previous trading day.
Sold 20 call options expiring today at a strike price of $32. After hours, the price of the stock was $32.10. So it was 10 cents in the money. How likely are these options to be exercised?
If the stock moves in the money after hours you likely can be. I have had stock go itm 2 cents in the after hours and I was assigned. I always go with the mindset of being OK with being assigned in the ah if it is close. Every time that has happened to me I have been but you don't find out until later
If it happened after hours then the call holder would have to call their broker to excercise, it won't happen automatically. Therefore, it is highly unlikely, especially if it's only $.10 cents.
It was actually $32.25 at close. What do you think the likelihood of it being assigned are? I'm hoping they do get assigned.
32.25 will most likely 100% assigned if the strike was 30.
Your 20 calls have value of $250. It would be pretty idiotic of the person on the other end of that trade not to exercise them.
But if your calls are getting tested you should always close the shorts right before market close to avoid getting burned.
STO Put HOOD $35 11/19/21
I want to but I’m scurred
Just go ahead and do it anyway
Scared of what? His break even is like 27, Robinhood will not be trading under that
I mean, it could. But you have a point, not a bad entry, I just tend to be over cautious with shit like HOOD
Well yeah, it could, but will it go over that again and you can get out? Probably, and you can always sell even more high IV calls against shares that get assigned to you. It’s just a very good risk reward at the end of the day, just IMO of course
I hear ya, I’m enticed..
Got lucky on my condors yesterday. Opened two more for earnings monday PM
-.32% day (due to AGQ and NUGT being very grumpy), but up .9% for the week so no complaints. The march to 9/17 (and really 21 DTE from that) continues…
I have been selling CCs and CSPs here and there the last few months. I sold a $36 Put on ASO for Aug 21 (15DTE). It is just over $35 today and hit low $34 during the day. Is 15 DTE still enough time to top me from getting assigned? I wondered why it has not happened yet. I am OK with getting assigned and selling calls, but would prefer to just keep the premium and sell more Puts. I wondered why it did not assign yet?
Oh, right, of course, because the buyer has to pay premium to exercise my put, so the premium has to be more than made up for my the intrinsic. Plus why pay for the intrinsic before the extrinsic all or mostly decays away.
So the question becomes do I take 50% of the premium if I can when its at the last few days, or just get assigned, which I know is my decision.
Thank you all for clearing that up.
Unless the options are extremely illiquid, weird stuff is happening, and/or something else taking the extrinsic value to near zero I wouldn't worry about getting assigned two weeks early.
The only time I've been assigned early was on an penny stock CSP and even then they exercised the put on Thursday before expiration.
As long as there is extrinsic on that option it will not get assigned...why would someone just give you money like that?
Getting an early assignment is like one in a hundred kind of a deal.
Got assigned a week or two early after SABR cratered due to earnings. That isn't even that unknown of a company.
• STO 1x **WKHS** 210917 P10 @ $1.27
• STO 1x **NEGG** 210917 P15 @ $2.16
• STO 1x **AMC** 210917 P30 @ $5.35
Flirted with selling calls on MVIS and SPRT, but decided to wait more. Otherwise just watched the delicious theta decay on my other CCs.
You’ll get assigned on AMC.
Let's see what happens
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SOFI STO 3x 16.50 put 8/13
Looks like FAS and XLF are back on the menu boys.
Or more specifically, looks like the shares I got assigned 7/16 are finally about to be profitable and I can start selling some covered calls.
Bro I sold a 110 cc when it was at 106 last week expecting at least a little pullback. But the fed is too strong. Going to have to go back to csp which isn't bad but Im just butthurt it shot up so hard and I couldn't catch it before 10am.
+37k today. Meme stocks mvis and spce doing the heavy lifting today. Got some short mara calls at $30 strike for next Friday, might just hold 'em to hedge maybe idk, but they are loser right now haha. Amazon still holding it's range between 3320 and 3500 🤭
Id be sweating for your short puts
Theta is one helluva drug
Is there a known date for MARA earnings? Sources online are pretty ambiguos, some say today, others the 10th or the 13th
They do month end updates making the earnings announcement relatively uneventful. They have already put out July numbers showing that they mined 442 in one month. They buy and hold so earnings don’t mean a whole lot.
TD says 8/12. I’m worried about my 36c trying to close out before earnings but hedged with shares today. Why not go deeper before earnings. I feel dumb
Closing weekly positions!
Had to roll my DKNG pmcc short calls, but did so for a net credit ans $4 strike improvement, so I’m good there.
My abnb cc @$150 strike was mint, with it closing at $149.99 (max pain achieved), though I closed for $0.05 an hour before close of market.
Shop csp @ $1500 for 95% max profit.
And my cc on LAC is looking good. We’ll see what happens next week.
###### 0-dte Frogger
* STO **ENPH** 6-Aug-21 157.5 PUT
* STO **PENN** 6-Aug-21 63 PUT
* STO **Z** 6-Aug-21 131 CALL
* STO **Z** 6-Aug-21 95 PUT
* STO **NET** 6-Aug-21 100 PUT
* STO **FSLY** 6-Aug-21 70 CALL
* STO **DKNG** 6-Aug-21 75 CALL
* STO **Z** 6-Aug-21 150 CALL
* STO **NET** 6-Aug-21 140 CALL
###### 7-dte Frogger
* STO **DIS** 13-Aug-21 230 CALL
* STO **TWTR** 13-Aug-21 82 CALL
* STO **ZS** 13-Aug-21 135 PUT
* STO **Z** 13-Aug-21 150 CALL
* STO **ETSY** 13-Aug-21 260 CALL
* STO **ENPH** 13-Aug-21 120 PUT
* STO **RCL** 13-Aug-21 115 CALL
* STO **OKTA** 13-Aug-21 145 PUT
* STO **LUV** 13-Aug-21 55.5 CALL
* STO **LUV** 13-Aug-21 36 PUT
* STO **SE** 13-Aug-21 145 PUT
* STO **SFIX** 13-Aug-21 70 CALL
* STO **DKNG** 13-Aug-21 38 PUT
* STO **ETSY** 13-Aug-21 270 CALL
* STO **ENPH** 13-Aug-21 265 CALL
* STO **CZR** 13-Aug-21 120 CALL
* STO **EXPE** 13-Aug-21 240 CALL
* STO **BILI** 13-Aug-21 123 CALL
* STO **AMD** 13-Aug-21 180 CALL
* STO **Z** 13-Aug-21 155 CALL
* STO **Z** 13-Aug-21 165 CALL
* STO **SQ** 13-Aug-21 400 CALL
* STO **SQ** 13-Aug-21 390 CALL
* STO **SNAP** 13-Aug-21 54 PUT
* STO **SNAP** 13-Aug-21 110 CALL
* STO **ROKU** 13-Aug-21 660 CALL
* STO **ROKU** 13-Aug-21 645 CALL
* STO **ROKU** 13-Aug-21 700 CALL
* STO **PENN** 13-Aug-21 110 CALL
* STO **MTCH** 13-Aug-21 210 CALL
* STO **NCLH** 13-Aug-21 14 PUT
* STO **RCL** 13-Aug-21 50 PUT
* STO **PTON** 13-Aug-21 175 CALL
* STO **PINS** 13-Aug-21 90 CALL
* STO **WYNN** 13-Aug-21 60 PUT
* STO **DOCU** 13-Aug-21 450 CALL
* STO **CLF** 13-Aug-21 34 CALL
* STO **EXPE** 13-Aug-21 230 CALL
* STO **AA** 13-Aug-21 29 PUT
* STO **Z** 13-Aug-21 165 CALL
* STO **NET** 13-Aug-21 165 CALL
This week's trip to coin star: 1 dave and buster power card worth: $2256
Damn bro, going hard... I'd be terrified dealing with all that. Respect.
I only squeezed out 300 dollars from lottos. Sigh. One of these days I'm going to get to that jedi status.
That's really what the force is all about
> That's really what the force is all about
See i always thought it was about doing flips. With the wisdom you have, you'll surpass me in no time
Mcfe screwed me hard. 8/20 $40c and $35c
The ex div date for the special div is 8/13, it should continue to run higher, but then probably nosedive after hours 8/13. So unless it’s exercised early, you should be ok.
My plan is to sell a call credit spread on 8/13, but the highest strike is $40 so I might not be able to. If it’s above $35 on 8/13 I’ll just buy 100 shares and sell a $35c 9/17 against it.
Jerome ain’t gone raise rates yet just bc one good month of jobs data
$1,150 for the week. 😁
Nice. Pennies stack up nice and tall if there’s enough of them.
Can God build a stack of pennies so high it would stop a steamroller?
STO 2 AMD 105p 8/20 for $2.0 each
Gonna wheel this one
Hope you get assigned because I have a -$105/$110 8/20 ccs on it that I’m down 140% on.
Bought back my amd 110c for a -270 debit at start of the day, then traded the 114c for 100 credit, then sold 116c for next week for 2,15, that's now worth 110. At the end of the day i should have just left the position alone and let it play out. This is why I don't like rolling calls, when you do it the stock can just as easily reverse on you and make you look like a fool
BTC 1x 9/17 JBLU 16p (close for scratch; didn't like the trade anymore).
BTC 3x 9/17 PSFE 10p (close for small profit to take risk off; trade went against me).
had time to monitor today, so STO 9x 0DTE SPX condors \~5 delta this morning, all on track to expire worthless.
End of day report
20 SPY 8/6 436p/437p expiring worthless (+$600).
Unfortunately I forgot to save all of the realized gains/losses for this week, but portfolio value is up $1900 from last week or roughly 16%.
What is considered ATM? For a 32 strike. What amount don’t I have to be worried about to be assigned? 32.10, 32.05?
$.01 in my experience. I was assigned three ATOS $3 short puts when the stock closed at $2.99 on expiration. All were assigned.
I would say within $.50.
Anything that's ITM by even $.01 will be autoassigned unless the option holder opts out of it.
Note that contracts can still be exercised after hours on expiration day up to I think 5pm EST so if the strike is ATM it would be wise to close it before 4pm to avoid pin risk from after hours movement.
If you're .01 ITM you should expect assignment.
So if you sold a 32 call and the shares close at 32.01 you're going to get assigned barring aftermarket moves.
Bought 200 shares of BTCM at 5.50. Short interest fee is 100% (getting half of it from broker).
Will sell CC once Bitcoin turns in trend
I hope TSLA respects the support at $700. That level has been acting as resistance for quite a while now.
algos trying to keep amd under 110 i see.. big OI there..
IVR and IV percentile for TSLA at 0% right now 😔
It’s skewed because of past Aug-September when it spiked. That’s the problem with IVR, an outlier move in IV pollutes the whole metric for the next one year.
Right. That's why there's IV percentile to smooth out those spikes. Both are basically at 0% right now.
Another thing to note is that the premiums are still there, just not as high as they historically were for TSLA. If you’ll sell an ATM put for next week, you’ll still get a decent 2% premium. It’s not too bad. Of course you’ll feel some pain if the IV spikes up and the stock moves against you.
That's also the problem with using underlying price to figure out when is a good time to buy shares of the underlying.
New all time highs are the norm, which will always suggest to hold off until a better price.
Waiting for IVR to spike is pointless imo. It will likely stay near 0% during good times.
closed out 2/3 of my MARA diagonal spreads and kept a long 9/2022 5c and short 8/20 27c. i can still grab about $0.7 worth of premium and I can sustain an approx to around $25 and ill be at similar profits as of now. this will also allow me to roll the short call if MARA were to drop for more credit. basically going to let this ride until i have to close it as i dont mind the amount of risk on the table.
that being said, im looking for mara to dip below $28 before i seriously consider adding to the position. i will definitely add if it dips below $24.
my breakeven on my current +5c/-27c is $21.90 after expiry. i am comfortable with that. i believe in the worst case scenario, i will be able to continuously reduce risk by rolling the short call.
STO BTBT 8/20 $15 PUT
STO BTBT 8/20 $20 CALL
Betting the juicy 200% iv will take a dump
Did the same. Can end really ugly when bitcoin spikes up during the weekend
If I choose to let my AMZN short put get exercised, would I have to pay margin rates over the weekend (Sat and Sun) if I have PM account?
I am barely itm and would rather get assigned and sell the shares Monday morning. Thoughts?
Only one way to find out.
This is the way
What do you mean sell the shares? With a short put option you’ll have to buy the shares at market close if you are ITM
What I mean is get assigned with shares with margin and sell them Monday
Oh got it, I guess it depends on your broker but cannot they just liquidate something random from the account to cover? Don’t know if I would risk it
You're worried about peanuts.
Still something that I am concerned
Another [decent week](https://cdn.discordapp.com/attachments/804213735014662144/873213488275812372/Screenshot_20210806-073549.png)
What are your strikes?
It's in the image. 170/182.5
It says iron condor, so I thought there would be 4 legs
oh right, for the put credit spread it was 167.5/170 and for the call side it was 185/182.5
Weekly. I do this every week.
Any exit plans? Why Disney?
I'll be closing out all my weekies that are too close to the money for comfort.
Haven’t been bold enough to sell anything above a 15P for AMC. Bet y’all selling the 25-30P have been making a killing 😅
I’ve been selling weekly CPSs on down days about 20% OTM and all have expired worthless for the last 4 weeks.
Just sold a 25p earlier today. Will sell an IC come monday
* STO 1x **CRSR** 09/17 -32.50C $0.94
* BTC 1x **BCRX** 08/20 -18.00C $0.35 (50% profit)
* STO 1x **BCRX** 08/20 -18.00C $0.60 (Popped right back up after my GTC triggered at open)
* STO 1x **CRSR** 08/20 -27.50P $0.70
* STO 2x **TLRY.TO** 08/20 -22.00C $0.30
* BTC 1x **PLTR** 09/03 +25.00C $0.47 (33% profit for 1 week)
BTO WFC 8/20 46c for $2.31. This effectively converted my PMCC (I'm short the 8/20 47c) into a call debit spread. Yes, I've locked in a loss, but I expect the delta gain from my LEAP to exceed the debit cost.
any good play today?
Deep OTM HOOD puts still have very high IV
Thinking about using margin to buy 100 shares on AMZN and selling weekly calls against it. In your opinion, is this a bad idea?
What could go wrong going all in on a single ticker?
Try using the PMCC
Tell me more about how this is a bad idea
Amazon drops, covered calls premium dont cut losses
Whats your margin rate?
Looks like it will be 6%
STO 25 8/13 144p/145p AAPL for .31 credit
ummmm wtf is going on with BTBT?
I don't know, but the $5 August puts I sold are looking good.
IWM open interest: over 7k
bid-ask difference: 1 cent
My **Fills: NONE....**
SOMEONE SHOW ME HOW TO USE IBKR PLZ. FUCK ROBINHOOD!
There’s tons of YouTube videos on how to use IBKR
Throw a midprice or mid order, though ive had orders freeze on the ask/bid. just wait patiently or crawl up or down
Waited patiently all morning... even saw the price go up 1 cent for awhile and still did not fill. With the tight bid-ask of indices, it should've... Robinhood are thieves man. Their UI is their only saving grace.
Oh i thought you mean you were already
on IBKR. I use IBKR, sorry ive never used robinhood
Show me Senpai
Any plays for next week guys ?
Looking for something that give me 15 ish per 100 dollar collateral
NKLA put credit spreads. LOL
Interesting choice. Sell 10 or 9.5 ?
10 seems to be better but exercise risk ?
I was fucking with you. Sort of. But its beaten down to a pulp. For every 100 collateral you can get about 15, even with OTM strikes.
I think I will sell the 9.5 lol
XLF showing life now. Still believe $45 years end.
PINS is still pinned at $60 range. Next week should go up some. Unless it is down because of reopening and yields.
VIAC still not at $45. Giving it time.
RKT ER is next week, 8/12. Should determine the direction.
XLE still under $50. Loading up, WTI should be $80 in couple months.
Man second time I set up a RKT cc for a week before expected earnings and they decide to report earnings 3 weeks earlier :/. I think I'm going to sell mine for pennies so I'm not stuck like last time it dropped from 23-17. I agree that these earnings I think will start to really show us which direction RKT will take from here on out now that we're sorta out of the choppy waters.
Yeah, I believe $25 is fair value.
Curious how much of the $1 billion buyback was used.
Also I believe they will offer more products in insurance. They did add that solar financing.
True. But don't forget the massive amounts of lawsuits for misleading investors. I think personally their buyback was when it went to 23 after the drop them it slowly corrected back down. Total guesswork so take a grain of salt with it.
Always lawsuits for a lot of stocks. Don't think they have merit. But we shall see.
Time will tell next week.
Thinking of selling some $10 CCs on DM, but they have earnings next week after a long down trend. What strategies do you use for this scenario? Or just wait until earnings is over before entering a trade?
(My avg cost is 10.12)
I think SPCE found its sea legs. I sold off my FD puts
BTO **SPCE** Jan 21 25C
STO **SPCE** Aug13 -36C at .78
STO PLTR 8/13 21.5P $.79
3.5% premium in a week looking to BTC before earnings
Tried to open 40 put credit spreads on IWM............ and only **ONE** of them fucking filled lmao
Who the fuck filled that single order? Some pimple faced teen trading in his mom's basement?
STO **BA** 10/15 210P $5.40
STO **XOM** 10/15 50P $.71
70 days out?
After getting ass fucked without lube on my Energy, Epicenter and Industrial short puts over the past 45 days, yes, 70 days out. I am a bit gun shy after getting raped.
As far as I can tell, you’re playing CSPs as opposed to PCS. CSPs are easier to roll. You can roll it out to October when time comes. Your locking up your capital for very less theta burn at the moment.
I appreciate the therapy session, however I have this friend called Gamma that I am waiting on to show up and bring the booze to the party. 70 days of premium is > 42 days of premium.
My AMZN $3,330/$3,320 put credit spread … ugh …
RH just automatically closed this out citing that it was high risk. Cost me about $2,600 in gains. I posted 100% collateral. What am I missing?
I read this a few times a month. If this doesn’t get you off RH, I don’t know what to tell you.
Edit: Oh, you guys expire today. Yeah, at this point I'd wait until 3pm or so and then take the L or roll.
Same here. What are your thoughts
Sort of playing with fire but I think I am going to let them ride. You?
Sell it peeps. It’s awfully close
Took my shot at an OLED IC yesterday, super wide wings (0.10 delta) and didn't pay attention to the liquidity trap. Opened a 200/210 260/270 for 8/20 and looking like I'll be locked in until 8/20 because of bid ask.
Received $1.87 premium and currently at net debit of $4.35
Me and my naked XLF calls are straight up not having a good time
anyone selling puts on fvrr?
Might seem like a juvenile practice, but I like to buy $150-200 worth of a falling stock before I sell a put spread on it. If it continues to fall, I feel more confident in selling the put at that point. If it ends up going up and I missed my put selling opportunity, I just made a few % on the underlying and I sell it if I just wanna play a quick swing.
I was debating just buying a call as well. and I love fiverr and understand its value long term. I start small and like to roll by adding more contracts along with time. I only let my self sell 1 contract at first and in a way hope I am wrong so that I can slowly build a bigger position.
My goal is to get to 10 contracts and have it go from 45 days to exp all the way to a year out. That way it is still high probability but I am also happy with "synthetic shares"
Just did with this MU was wrong 3 times in a row and have now broke even on the trade my strike in MU went from 1 contract at 82.5 all the way down to 5 at 67.5
Interesting strategy. I don’t have the capital for that many CSPs tho.
Also I wouldn’t buy a call unless a stock has stabilized for a while (to let IV calm down), and even then it would be a LEAPS.
don't use a margin account? it really is only viable with buying power.
I do. And I sell CSPs, but not enough to sell multiple CSPs on a stock over $150. Not without making it like 40% of my acct or more in a single ticker, which I don't wanna do.
that put was easy money! $$$
Been watching it but afraid of falling knives… day 2 of decline, but it’s probably reaching oversold territory (?)
I am watching this as well. Seems too good to be true (free money) so I am being super hesitant
i just sold a put at 155
Joined you on that one
Covered calls on MVST?
merrill edge restricted selling csp on hood.. WTF! that was like free money with this insane IV
So fucking stupid. How is that even legal? It's cash secured, what the fuck. Merrill is taking absolutely no risk. Wow these brokers. "PrOTeCtInG yOU fROm YouRsElf"
i know!!!! WTF im gonna call them today when i have a chance.. was esay money for the past days.. sell csp on a dip buy back with 1k profit
STO 2x TSLA 600p 8/13 @ $1.12 (added to my -3 position from last week @ $1.73).
STO 1x SPX 4305p 8/9 @ $0.5
BTC 15x SQ 8/13 @ $0.08 (STO on last Monday @ $0.38).
Got wrecked by the jobs report. Closed a 8/6 RUT 2250c for 50% loss (I really shouldn’t have sold it in the first place) and rolled the put spread portion (200/190) of my NVAX IC to September for a loss
TNX and Dow going straight up, NASDAQ going straight down. It’s gonna be hilarious to watch this all retrace again next month