Daily r/thetagang Discussion Thread - What are your moves for today?
By - satireplusplus
Did anyone sell PUTS on $APPS ?
God damn is ARKW ever gonna hit 160... I have a 160 put i've been rolling along each month and dragging out for god knows how long. At least I'm collecting premium but damn I want off this ride.
You sold a put ?
Let's talk solid companies to do theta strategies on.
My current selection is: TSLA, NVDA, SHOP, PTON, SQ
ETFs: SOXL, TQQQ, SPY, IWM
What are you guys doing trades on that are companies with good business models + good liquidity. My reason for this is I've always made money off these companies but every time I touch a meme stock like SOFI, GME, AMC, I get burned so I rather stick with something that I know has a large following of buyers to buy up dips without huge swing in price movements.
UWMC with a 5% dividend is like a savings account. I think Im gonna add more
I think the yield for UWMC is only 2.5%.
Anyone out here wheeling GME? Premiums are nice, got assigned on DKNG so have some extra cash since you can’t use margin on GME on TD.
Edit: maybe HOOD too?
I’m thinking of HOOD. Liking the premiums and don’t mind hokding
Roll RKT CC 6X Aug SC18 to Sep SC18.89 $1.34 for 0.12 debit
Got assigned on my $37 AMC put 79 cents above my breakeven point.
If Monday is green, I'll sell a $40 covered call expiring next Friday (8/27).
If Monday is red, I'll sell a $37 covered call expiring this Friday (8/20).
Roll either/accept assignment on the expiration date.
someone is going to comment "works until it doesnt"
It works as long as it does.
Collected 52$ + $32 on PLTR 25 CCs and AMC CSP.
First time selling options woooo!
Congrats! Now you’re a theta farmer. It ain’t much but it’s honest work
Thanks. Really happy I found this subreddit.
I'm still going to trade options and equities, but I've been looking for a strategy to profit from lack of price action. And theta it is :).
I’ve been playing IV. I want for a stock with high IV to drop and I buy shares (MARA TLRY SOFI FUBO) and then sell CCs as they ride. Also PMCCs on them. My entry point is low and the profits I plow into more. It’s amazing
STO SOFI put 9/10/21 $15 strike for $1.16 credit
STO MSTR 650p for $37.60
Wow got crushed on apps. I don’t usually do plays like this but that 8/27 for 500 helped lower the cost basis quite a bit. BTC earlier today for 0.45.
Good evening Gang. Please help me find a companies which are exposed either to sugar or oats or both. Thanks
OTLY and SBUX come to mind.
RKT stayed above $19, my bags are lifted 🙏
Sold puts early this week:)
##### Today on Penny VS Steamroller
* STO **NEGG** 13-Aug-21 35 CALL
* STO **AA** 13-Aug-21 39 PUT
* STO **EXPE** 13-Aug-21 215 CALL
* STO **ENPH** 13-Aug-21 115 PUT
* STO **ABNB** 20-Aug-21 200 CALL
* STO **Z** 20-Aug-21 55 PUT, 130 CALL
* STO **SFIX** 20-Aug-21 70 CALL
* STO **RCL** 20-Aug-21 100 CALL
* STO **Z** 20-Aug-21 55 PUT
* STO **X** 20-Aug-21 39 CALL
* STO **UPST** 20-Aug-21 110 PUT
* STO **ROKU** 20-Aug-21 620 CALL, 555 CALL, 600 CALL
* STO **NUE** 20-Aug-21 175 CALL
* STO **MAR** 20-Aug-21 185 CALL
* STO **ETSY** 20-Aug-21 310 CALL, 300 CALL
* STO **WYNN** 20-Aug-21 110 CALL
* STO **CPNG** 20-Aug-21 50 CALL
* STO **AA** 20-Aug-21 32 PUT
* STO **UPST** 20-Aug-21 110 PUT
* STO **U** 20-Aug-21 90 PUT
* STO **SQ** 20-Aug-21 370 CALL
* STO **SPLK** 20-Aug-21 95 PUT, 210 CALL
* STO **SNAP** 20-Aug-21 103 CALL
* STO **LRCX** 20-Aug-21 895 CALL
* STO **NVDA** 20-Aug-21 285 CALL, 125 PUT
* STO **FSLY** 20-Aug-21 30 PUT
* STO **ENPH** 20-Aug-21 110 PUT, 250 CALL
* STO **DKNG** 20-Aug-21 75 CALL
* STO **EXPE** 20-Aug-21 205 CALL
* STO **COIN** 20-Aug-21 385 CALL
* STO **ASAN** 20-Aug-21 110 CALL
* STO **AMD** 20-Aug-21 140 CALL, 146 CALL
* STO **PLTR** 20-Aug-21 27 CALL
* STO **PENN** 20-Aug-21 120 CALL
* STO **HOOD** 20-Aug-21 150 CALL
* STO **EXPE** 20-Aug-21 205 CALL
* STO **DASH** 20-Aug-21 290 CALL
This week's trip to coin star: One Applebee's gift card worth $2459
Eatin good in the hood
> One Applebee's gift card worth $2459
Nice, I think that's enough for four barely-microwaved appetizers and a warm beer
Has any positions really go against you recently or are you quick to close for a small loss or b/e?
AMC comes to find with the squeeze a couple months ago. I had stepped out to exercise and checked my phone an hour later to be $5 deep on my 1 73c. I took the L, but it was 1x and easily manageable. More than broke even selling the 145calls for the next 2-3 months
I don't think I've ever had a lotto expire ITM, but that doesn't mean that I would have stayed in the position for the whole ride.
Thanks for sharing, sounds like you have a very sizeable portfolio to be run this many trades! Trying to get there eventually and doing far OTM puts/calls.
My only difference in strategy would not be to touch any meme stonks.
Looks like I'm not getting BA called away [as I thought I might](https://www.reddit.com/r/thetagang/comments/p29abb/daily_rthetagang_discussion_thread_what_are_your/h8k9spy/)
I get to sell higher calls now I guess tho so yay? max profit++. hopefully.
Prolly should've bought em back & sold the new ones today instead of waiting thru the weekend but I was busy with work
Thinking about wheeling HOOD because premiums seem decent but concerned about liquidity. Has anyone had issues buying and selling
With over 100m volume I wouldn’t think liquidity is an issue
I think bid ask spread was more than 10% for some strikes. With 13 open interest. Seems very low for options
I sold a couple at $35. No issues.
STO MSFT 9/17 310c @ 0.79 (part of 270/310 strangle)
[8/13 nudies final tally ($8.9k, 2871 contracts, $65M notional)](https://imgur.com/a/RCgmBoC)
**0DTE nudes ($1,066):**
* STO **ABNB** 8/13 $130P -30X
* STO **ABNB** 8/13 $185C -4X
* STO **BIDU** 8/13 $200C -50X
* STO **CRWD** 8/13 $290C -30X
* STO **DASH** 8/13 $130P/145P/152.5P/155P/160P -126X
* STO **DASH** 8/13 $215C/220C/230C/240C -86X
* STO **DIS** 8/13 $205C -10X
* STO **EXPE** 8/13 $215C -100X
* STO **JNJ** 8/13 $210C -30X
* STO **LRCX** 8/13 $700C -10X
* STO **MTCH** 8/13 $157.5C and $170C -60X
* STO **MU** 8/13 $91C and $92C -65X
* STO **PENN** 8/13 $77.5C -1X
* STO **ROKU** 8/13 $300P -9X
* STO **ROKU** 8/13 $452.5C/500C/505C -51X
* STO **SE** 8/13 $200P -40X
* STO **SQ** 8/13 $330C -20X
* STO **TDOC** 8/13 $115P -20X
* STO **TWLO** 8/13 $425C and $435C -21X
* STO **TWTR** 8/13 $78C -1X
* STO **Z** 8/13 $114C/117C/119C/123C -17X
**8/20 nudes ($263):**
* STO **AMD** 8/20 $165C -1X
* STO **COIN** 8/20 $385C -4X
* STO **CRM** 8/20 $110P and $115P -100X
* STO **DOCU** 8/20 $185P -10X
* STO **LRCX** 8/20 $815C -10X
Quesion about the 0DTE ones. So you just sell waaaay OTM calls/puts and collect like ~$5-10 per contract and let it expire? So volume is the key here? Like if you have $100k buying power, you use like $50k to sell 0DTE to make whatever you can on a given day?
You have the gist correct but what you need to focus on is the $65M. If any of those positions had gone well ITM, it would have wiped out wayyyy more that what was collected in premiums. 8k gain risking $65M (max loss). Low risk, but still a risk nonetheless. That's why it's called picking up pennies in front of a steamroller. It seems fine until you get flattened.
The risk is 65M if all positions turn against him, also you can manage your trade by stopping out if the position starts going against you, the risk isn't 65M. The real danger is a huge overnight gap up where you can't exit your position forcing you to hedge
If even a single position moved in the money it could have wiped out 100x the gains. And yeah, I said that was the max loss. And yeah, I said it was a small risk. But people read these and only look at the 8k without understanding what is at stake. As someone who has had positions blow through my entire long and short leg overnight, I can say it's important to understand that it is possible to reach that max loss figure.
Have you ever heard of a stop loss before?
Have you ever heard of extended hours trading and for most people, you can't close option positions outside of market ours. Yeah I've heard of stop losses. Have you ever set one? Because they execute a market order and you'll get effed on the bid ask spread.
Yes, the 0dte positions he opened up with .01 delta that expire at 5PM the same day are very prone to after market moves, you fucking donkey. Can’t wait for his 165 AMDs to gap up 45% to 150 on Monday and annihilate him, or his .01 delta LRCX nakeds to gap up and cripple him.
The theme here is ticker selection. AMD would never gap up anywhere close to 165. Could it chug along there, over the course of a few weeks? Highly unlikely, but possible with a huge catalyst. You will have all the time in the world to get out of the trade, and I guarantee you the bid/ask spread will be less than .03 as well assuming you’re not exiting at 9:30 AM
They don't expire at 5pm, they just need to give notice of exercise by that time. And the holder can exercise at any time but the shares need to be aquired and delivered and there are all lags in time during that process meaning even if it's not in the money at exercise when it opens the following trading day it could have moved significantly by the time those shares are purchased. And yes stocks can move up 45% in after-hours. Happens all the time when acquisitions are announced.
I’m sorry, but the only stocks gapping up 45% are acquisition targets, biotech, and stocks with very high ADRs. AMD is not an acquisition target, Lam Research is not an acquisition target, along with any of the other 0dtes at a quick glance.
65m is not the real risk. You could in theory be hit by lightning 1000 times in a row but would you really?
Here I am coming to post my stuff for the day and i see you at the top.
> 8/20 nudes ($263):
I am nervous if that's all you sold....
Heh yeah the monthlies weren’t hitting today for me. This was surprising but I can’t complain after yesterday’s haul.
Curious to see how much you pulled and what tickers 😬
Quick answer is more than yesterday 😬
I can concur that the monthlies were far better yesterday for me as well.
Lesson learned: don’t put 15% of your portfolio in SESN 😳😳😳😳😳😳😳😳😳😳😳😳
Unless it is in puts
[Worthless Haul Weekly](https://imgur.com/Xd5oDML) \- $790
Finally unloaded my RKT leap that I've been doing PMCC on, at a 50% loss. Only 27% loss if you include the premium from the calls I sold! Glad to get that stinker out of my portfolio.
Also yesterday I legged out of a put credit spread I had on SMG for earnings. It blew past both legs with no end in sight. The long leg made me $240 today. Hopefully it will run long enough to cover my losses on the short leg. $370 to go.
How were you down 50% on a RKT leap? What was the strikes and exp and when was it purchased?
I bought a 16.89 dec expiry last spring for 6.80, sold for 3.50 today
Thanks for the info. Not too bad all in all. Just curious though, why didn’t you sell the leap when RKT short squeezed to $40?
Closed my TSLA spread:
BTC TSLA 13/8/21 $712.50C @ $6.31.
STC TSLA 13/8/21 $715C @ $3.95.
About a 20% loss on that one. Was expecting TSLA to drop back towards Max pain which was $700 this week. No such luck.
Rolled my ITM Enphase Put out a week:
BTC ENPH 13/8/21 $187.50P @ 11.68.
STO ENPH 27/8/21 $187.50P @ $14.15.
Opened a 1-month AMD position:
STO AMD 1/10/21 $100P @ $2.66.
Closed Enphase CC:
BTC ENPH 13/8/21 $180C @ $0.03. 99% gain.
Will re-open on Monday.
Trying to steal some more theta on expiration day:
STO TSLA 13/8/21 $715P @ 0.53. Sold at 230pm. Almost immediately went underwater and has only resurfaced at about 530.
BTC TSLA 13/8/21 $715P @ $0.05 (with three minutes left on the clock). 90% gain.
+71.2% beta-delta dollars/net liq.
-0.251% theta/net liq.
No trades today.
Was up .8% earlier in the day but faded to up .36%. Looking forward to seeing some of my more ATM 9/17 holdings burn up more in this last month…
-35k day. This week was brutal.
Yet the spy just keeps going up.
I'm too late to the rotation train, but I have jumped on the "dump a lot of small caps and start to short stuff" train. With so much weakness in small caps, I think it's a sign of an overall market top. Tryna build up some cash/margin to buy in the coming months.
STO 2X $TSLA 9/24 $625 @10.50CR.
BTC 10X $AMD 9/17 $95 @.94DB.
Question regarding debit spreads on leaps:
Suppose a 2023 12.5c is priced at 3.20 and the 2023 15c at 3.00, if I BTO the 12.5c and STO the 15c - my max profit is $2.30 (nearly 12x) and max loss $0.20. So why on earth would anyone buy only the 12.5c as opposed to opening a debit spread?
Is this using the bid of the 15c and ask of the 12.5c? If so, then yeah that's a pretty good deal (unless there's no chance of the stock hitting $15)
Obv answer is they don't or can't have spread margin approval, Vanguard doesn't like that for example
STO **RBLX** csp Sept24 82P at 6.99 (yesterday) 12% today
I expect some sort of f\*\*\*ery around next week's monthly opex. The last three have given rise to a day where SPY tagged the 50 dma. I will wait to open any new positions until after the following Monday. I am a paranoid old fool, but oh well.
Closed out RKT put and took profit for everything that's in green. 80% cash to enjoy the weekend. Hopefully more reds and VIX spike next week.
my 9/17 $27 $VXX call would love some market uncertainty
Is it better to use the ibkr rollover option or roll it myself? I’m scared it won’t fill at a decent price because of the spread between the bid and ask if I use the rollover tool.
I used IB rollover tool for the first time to roll up 6X RKT Aug SC18 to Sep SC18.89, no details for BTC SC18, STO SC18.89 $1.34, fee $6 and the whole process took around 10 seconds.
I've never used the tool but I'd do it yourself. Especially if you want to pick what exchange it goes to and a limit price.
STO **UPST** csp January 21 -240P for **66.50** break even way way down at 173.50
Lol you realize it was at 173 yesterday morning right?
Before it had its rating upgrade.
Previously 170 used to be a sell off point, should hold support above 180 now.
Hopefully it runs up, perhaps for next earnings and I'll close out then.
Didn't enter any positions today. Too much of a risk to hold into the weekend and lots of FUD in the market right now.
Next week I'll consider CRSR, SOFI and TTCF. If SOFI and TTCF dips a bit more I think these are good entry prices and a CSP makes sense (more so SOFI).
CRSR has been selling off lately but I like the stock and I think the bleeding will stop soon enough. Been theta farming this one a bit this past week with some decent gains. Just want to see how if dips below $27.
I think we're coming close to a point where it makes too much sense to enter into some positions on some stocks that got hammered like CRSR and SOFI.
I sold a covered call on SoFi that expired worthless today. Looking to bring my basis down further. Wait for a Green Day to sell the next call or wait until closer to next earnings call?
I'd wait for the next green day.
STO Aug21 PCS
STO Aug21 CSP
Rolling my 25/24 GM Aug 13 PCS
STO Aug21 CCS
Pltr close above 25 I make 1400. Below 25 I only make 200. It’s good to be Theta gang
RKT and PLTR was a win. SOFI was a lose.
Does aapl iv ramp up around the sept release? The iv is so Low that I don’t really want to sell
More calls even though they keep hitting the 149 resistance lev.
Pretty sure their IV was up because of earnings. Apple premiums aren’t really that high normally
Yeah just didn’t want to sell if there going up a touch soon
Looking to average down on my Jan22 $25 PLTR LEAPS with this lower IV as well
* STO [**TLRY.TO**](https://TLRY.TO) 08/20 -17P @ 0.55
* STO **PLTR** 09/17 -24P @ 0.91
* STO **BCRX** 09/17 19CC @ 0.75
* BTC **BCRX** 08/20 -16p @ 0.30 (50% in 3 days)
* STO **BCRX** 09/17 -17P @ 0.75
RIP to the people playing $WISH
I did sell a bear put spread $7/$6 Sept 17 on it today. Just 1 lot. Let’s see how that goes. :)
That company is so garbage I can’t believe it was even hyped up at one point lol
WSB strikes again.
I feel like Jeff Amazon right now.
I'm in space!!
I feel like Jeff's shareholder right now.
I'm bagholding to eternity!!
It’ll be okay. I got in after the drop and I like the stock.
Trash market currently. No premium and no IV. Just a flat market with more downside risk than upside potential
Preach. Just been doing AMD csps and buying AMZN shares. Everything else seems like a bad idea
Premium for days in UPST. Go get it.
Sold some $250 calls expiring next week, hope it doesn’t get there!
Think 250 should be safe... However if you're not my 240p csp going to hit 100% profit then 😂
So you're saying buy puts?
I bought a few calendar spreads for earnings plays coming up, speaking of buying. Let’s see how that goes.. :)
Sell covered calls is probably the best right now or delta neutral strategies like iron condors and strangles
I was more poking at his outlook. Shorting volatility is the game here at thetagang, but that only makes sense when you think people are paying a premium to what its worth. If your outlook on the market is "flat, with more downside risk than upside potential and no IV" then you'd really want to buy puts.
You don't want to be a one trick pony and just sell premium on everything. If premium has dried up, pull back your theta strategies! Maybe if go long vega if you think there's unpriced risk! Revisit your allocation.
BTC - BBL iron condor for a profit!
BTO - 10 Aug/Sep 75 calendar on PLNT $1.75 debit
BTO - 10 weekly $365 calendar PUT on FB for $1.87
BTC - my Aug 15/17.5 Bear call spread on CLSK for BE - it went against me and pulled back! Not losing today!
(except on wish and sofi - u don't really want to talk about it)
BTC 60P MU CSP. 42% gain. Opened yesterday.
What are you all doing with the premiums from your CSPs that expire worthless? Are you buying underlying stocks for CC or just using it for leverage? I'm starting to wonder if I shouldn't start putting a small amount -- say 10% -- into LEAPS, as more of a long-term strategy.
I'm using my premiums to pay off my existing shares. Once that's done I'll start thinking about restarting the long-term plays.
I generally wait until I've had 3 or 4 profitable rolls and then piss it away on long calls for another underlying that expire worthless as well
Started selling CCs a few months ago and to this point I have racked up a good amount on premiums that have expired worthless. In the past two days I'm pretty sure I pissed every bit of that away on some $ELY long calls.
Anyone else sell wish puts at open?
8/13 6p were briefly $0.10, but I couldn't get in an order fast enough.
Still sold the 8/20 6p's for .20
Sold some 9/17 6p at open for 0.46. Already at 40%
still too risky for me for that piece of crap
Down only $98 on my 12/2022 WISH short puts.
Even after a 20% drop the loss is negligible. This is why I love selling long dated puts....
Edit: Down only $80 now. Premium received was $430 and collateral is $1,000
I'd sell these but my concern is that a full on crash, which wouldn't be unrealistic in the next 6mos, companies like Wish get annihilated
I don't really know wish too well but don't they sell alot of cheap goods (like an amazon for cheap shit?)?
In a hypothetical crash, wouldn't a company like this do well?
Yeah it’s a “risk” play on a not so great company. The only way I lose is if it goes bankrupt basically. I’m gonna wait for a false pump in the coming weeks then I’m gonna buy a put to hedge in case I get assigned by then. A way out of potential worthless shares
Who the fuck downvoted this? Lmao state your thesis you wuss
Keep editing! I want to see down only $50 next!
If my spx short call strike price is 4465 and the mid price at the end of the day is 4465.2 what will be my settlement price? 4466? Or they will average all exchanges and round up?
SOFI, LOTZ and CRSR. the one thing they've got in common is that they were all thetagang summer sweethearts
CRSR is at least a profitable company.
... and they're all *stocks*! That's another thing that have in common!!
With four letter tickers!
Better to stick with 3 letter bluechips like RKT!!
Contemplating on closing my LEAPS on PLTR after the earnings beat and bought some MU and PINS LEAPS. Bought into pins after the massive drop and its kind of just staying there so averaged down with a few more LEAPS. Same might happen with MU if it keeps steady at these prices or goes down a little more.
I feel that too with the PLTR LEAPS. I have 10x Jan22 $25 @ 3.96 that I was hoping to close in the surge yesterday but didn't quite catch it in time. The IV didn't crush that hard for the first few hours but it sure did later into the day and I learned a valuable lesson! With the lower volatility though, I may average down some more and then wait for another rise, cash out and buy some longer dated Jan23 LEAPS
BTC my HOOD 08/13 $51p x2 for a 87% profit. People love talking sideways when hood drops (see last week), but this ticker has been making me pretty good money since debut.
**CRSR,** I am still stuck in two contracts on a **CSP** that I had to **roll out and down to get from 35 to 30** and will revisit them in Sept, but **took the L on my other CRSR CSP** today. It's the worst loss since last March, but I love how I feel relief once I close a bad trade; it cant get any worse on me now.
**Closed out a Short /RTY Futures Option Call Credit Spread** on the consumer survey dropping, and that gave a bit of a buffer for the decision with CRSR. **I am trying to turn my portfolio more bearish and negative Delta going into Sept.**
Now looking at **/VXM Futures for hedging** and will probably enter one next week to try it (did a post on that, but not much response **if anyone is even doing hedges in /VXM speak up**).
Seems to me the VIX has stopped functioning how it once did; the last week I have seen a lot of people getting creamed on trades and bad news, and yet the VIX is still going down.
>Seems to me the VIX has stopped functioning how it once did
It’s a derivative of SP500 so the trash companies (that are not part of SPY anyway) can go to the ground and VIX still won’t care.
I sympathize with you for CRSR and hoping for a nice reversal in direction for a change. I've got 2 CSPs open at $30 and $27.5 that I should be able to roll next week if it still goes against me but I'm okay with taking the shares once I can't roll further since my basis is up near $33. Best of luck!
Excuse me DASH, please die
Yesterday I Rolled my 52p HOOD expiring today into 48p expiring in 2 weeks for a small credit after the stock crashed to 48.
Always wait until expiration date before you roll -.-
RIP Ford IV.
And on the final day the underlying is pushing past my CSP's breakeven price.
Every time I open a position in MU it goes against me... Like clockwork. Got 35 DTE on a 72.5/67.5 PCS that I opened when it was already down 5% and trading at ~$76.
STO 3x PLTR 9/17 30c for .21ea
BTC AMD 100p 9/17? Opened on 8/10 and up 40%.
Nice! I bought 3 Oct calls on AMD yesterday - sold one off today and will play the rest by ear!
Why are SPX options comparatively cheaper than SPY right now. Was looking to open an SPX 8/27 credit put spread but seems like SPY spreads have larger premium for the same amount of risk rn
Talk me out of wheeling AMC and Ford. Even if assigned, monthly CC’s on AMC seem like they would allow for a zero cost basis at 12 months. Only concern is that hospitals are piling up C19 victims, and I think there may be a correction in October due to fear & flu season, and planning on entering quite a few other more sensible positions if/when that happens.
Do it but first tell me how AMC is a $20B company? What makes them 15x more valuable than they were in January?
Fools, and greed.
> Only concern is that hospitals are piling up C19 victims
What about the concern that IV and premiums dry up within the next 12 months? Or that AMC dumps back to where it belongs, i.e. close to zero?
Premiums on Ford have nose-dived, at this point if you're bullish just buy the stock
Maybe buy calls then!
I am being cautious though and will wait until it drops a few more pennies to buy!
This is a valid statement. I am bullish long.
Don't wheel AMC and Ford. You shouldn't do it.
Yeah F doesn’t really have the premiums. AMC is a clown car. But it’s a clown car spitting out premiums.
> But it’s a clown car spitting out premiums.
For now. And I say this as someone who's on that Premium train.
Wtf $Z, why won't you stop
Just in the past hour:
STO $TSLA 8/20 4x $750C for $7.45
BTC $TSLA 8/20 4x $750C for $4.40
Thank you, God bless you, good night.
Where’s the guy who said Friday’s usually green. I’m dying here
Look at SPY
Was that just a hunch or did someone actually do the analysis? More days are green than red anyway so did someone actually look and see the percentage of Friday green vs regular green or did you just take their word for it?
STC $SNDL 8/13 2x 1c MKT (100% loss)
STO $F 9/3 -14.5c @ $0.18
STO $SOFI 9/17 IC +12.5p/-15p -17.5c/+20c @ $1.27
ROLL $X -23p to -26p for an additional $0.26 credit
Closing out the $SNDL losing lotto tickets. Turned $F put into strangle. Adjusted the untested side of $X and added in the $SOFI IC.
$F 9/3 Strangle -13.5p/14.5c
$MNMD 1/21 Combo -5p/+2.5p/+2.5c
$SOFI 9/17 IC +12.5p/-15p -17.5c/+20c
$X 9/3 Strangle -26p/-29c
Hey All, I need an advise on a trade I did yesterday and how to close it out.
Trade 1: Buy 200 shares of UPST at $174. ($34,800)
Trade 2: Sell 2 $200 covered calls Jan 2022 expiry for $27 each. ($5,400)
Average cost of per share after selling CC is $147. At $200 strike its a good $10,600 profit.
Seems like UPST will hit $200 either today or next week. How to force someone to call my shares so that my capital is freed up and I move on to next trade? Are there any other strategies which can help?
You can't force someone to call your shares away.
What you could do is close both positions together. You'll realize a loss buying back the call which should be offset by the gain on your shares. It won't be a perfect offset but it'll allow you to free up your capital sooner.
It already hit 200
SOFI and $15, name a more iconic duo (I really should've seen this coming. At least I didn't pick WISH.)
STO 100 8/20 14.5p/15.5p for .52 each (Level 2 data is showing extremely strong buying pressure below 15 and this stock likes to rebound once the panic selling stops.)
$ABNB Sept 17 PCS 140/130 at 50% profit
$SWKS Aug21 PCS 175/165 at 60% profit
$RKT Aug20 17$P at 50% profit
$ABNB Sept 17 150P
STO SOFI 9/3 $13.5P
STC AA Jan22 27C
BTC AA Aug21 39C
at 12.60 NC.
I think this is what they call max profit, technically. Really didn't expect it to run up almost 50% from its recent low.
Replenished some delta with calendars, but some of them have also already been run over and turned delta negative...
Still, counting the premium close to 100% ROC.
Robinhood now gives notifications for short options expiring on the Monday before they expire and the day they expire. Let's see if I get a notification about getting assigned.
IBKR gives me notifications when MEXI is down.
Been travelling so not posting. This morning BTC 8/20 65c on TOL and 8/20 100c on DHI. I will have CHWY 90p x 10 expire worthless today.
Not theta but started part of the master plan this morning. We will be leaving the rat race at the end of 2029 and my plan is to have at least a million of our nest egg in dividend tickers even though I'll leave the majority of our funds in SPY. To guard against SORR I want those tickers funded by the end of 2026. Opened tranches of LTC and PDI with the dividends reinvested.
Feels good to hit the beginning of the end.
Pdi has a dividend that is very high. I have seen people on r/dividend call a stock with 4% less yearly a dividend trap.
Why LTC, it's running very high rn
I think LTC is in a good market space, given all the aging Boomers, and they should do well in the current climate. This is a buy and hold for decades so I'm less concerned about today's strike vs. what I predict over the next 20 years.
PDI traded between 25-32 for years and then dropped last April like so much of the market. I think the fund has yet to recover it's market price drop from COVID.
PDI not supported in the Hood.
Are you going to theta farm ccs on either?
Been with Fidelity for about 20 years and not moving any money over to RH.
I looked at the premiums, and like doing CCs on my SPY holdings, probably not worth the effort/risk. I have a clear mental divide where the vast majority of my port is "buy hold, don't touch" and then 100k or so of play money for making tendies on.
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If my avg on RIOT is $39 cost basis and I have sold CCs for $36 and they get exercised. Since I am technically selling at a loss, I cannot buy riot back or sell cash secured puts and get exercised without it being a wash rule?
Good question, no idea. My trader buddy basically keeps a list of this stuff and closes all his positions end of November in tickers that had weird scenarios like this and doesn’t touch them again till January. In this scenario, he’d play Mara in Dec if he absolutely wanted that type of play.
Selling VUZI CSP,
I like the stock ,won’t mind owning it.
Closed RKT 17.89 september 17 puts for 50 percentage profit.
Opened and closed csp in amc,I don’t want to get burned
Looks like I’m taking assignment of VIAC at $40 today. Time to wheel!
I might be finally out of MARA hell, and with that i mean that i just managed to sell CCs slightly above my average after freaking MONTHS!
STO AMD 9/17 95P for $1.27
STO GDX 10/15 31/37 Strangle for $1.22
STO MU 9/17 62.5/80 Strangle for $1.17
STO RBLX 9/17 65P for $1.24
EDIT: STO DKNG 10/15 45/75 Strangle for $1.65
BABA: game of madlibs:
It can't go lower than ____. _____ is definitely a safe bet. It is worth at least _____.
My hopes for profit!
Xi Jingping Authority rule
As much as the person I sell it to
China just shuttered its biggest port coz of Delta outbreaks. good luck with that.
It can't go lower than the *bottom of the ocean* is definitely a safe bet. It is worth at least one *fortune cookie*.
Time to roll SOFI, what a disaster
We all know what happened.
The WISH is dead.
So stoked my pair of covered calls are expiring OTM at 12$ today. Nothing wrong with this scenario at all, no sir.
My condolences to you and all WISH holders.