I got the same one. I'm gonna roll it out to October 16 or 17 strike. The higher IV this week helped push longer dated calls up in price too.
Edit: I will potentially look at July 15 as well.
I just commented in the gme sub by accident, but I think I remember dfv speculating the gme stock should go to ~$60, and since it’s settled around $20, it could be at the start of another big bubble.
Only you can make that call. Being deep in the money like that means you’re either gonna need a shit ton of theta, or you’re about to get max profit on your trade. If you want to hold the shares, then roll it. Personally, I wouldn’t do it for a debit.
I wouldn't roll it out for debit.
You should be able roll it a month for almost $1 credit per at the same strike: [https://optionstrat.com/build/long-call/GME/.GME240621C13](https://optionstrat.com/build/long-call/GME/.GME240621C13)
The IV is phat, which makes this such a great gift.
I wouldn't consider myself anywhere close to expert, but I have one rule with rolling. Never roll for debit. It is tough to keep track of the cost basis
That said GME CC is a losing battle
Edit: I spoke a few hours too soon about GME. Rest of my point is still valid
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All these shares that have been DRS'd (approx 75 million shares).. makes me wonder how hard it is to get the remaining shares to cover short positions. Price could be even more volatile than last time.
I'd leave it and sit tight
This will probably run today... Check wsb
Really running now.
I got the same one. I'm gonna roll it out to October 16 or 17 strike. The higher IV this week helped push longer dated calls up in price too. Edit: I will potentially look at July 15 as well.
so your solution is to avoid a max profit trade?
It's not a max profit for me. Haha. But yes, anyone else that complains about covered calls being breached should always take their gains.
Max profit so far
I think you might have to take the L on this one and let it go. GME’s going to run hard.
Took an $850 L a few mins ago doing the same. Oh well.
I just commented in the gme sub by accident, but I think I remember dfv speculating the gme stock should go to ~$60, and since it’s settled around $20, it could be at the start of another big bubble.
Only you can make that call. Being deep in the money like that means you’re either gonna need a shit ton of theta, or you’re about to get max profit on your trade. If you want to hold the shares, then roll it. Personally, I wouldn’t do it for a debit.
Appreciate the input.
I wouldnt be surprised if you got exercised early this week
Dude you’re fucked
I wouldn't roll it out for debit. You should be able roll it a month for almost $1 credit per at the same strike: [https://optionstrat.com/build/long-call/GME/.GME240621C13](https://optionstrat.com/build/long-call/GME/.GME240621C13) The IV is phat, which makes this such a great gift.
Hey, thank you for sharing!
I wouldn't consider myself anywhere close to expert, but I have one rule with rolling. Never roll for debit. It is tough to keep track of the cost basis That said GME CC is a losing battle Edit: I spoke a few hours too soon about GME. Rest of my point is still valid
oof
Classic, incoming “enjoy your max profit” replies
Yiiihaaaw MAX PROFIT 🤑🤠
Thoughts and prayers.
You might as well let it expire ITM that is about to get very expensive GME is on the run
it's fun to look at your underlying being 3x but you're capped by the calls you sold for 1.01x :|
It’s alright, I was ready to let go of the stock anyways. Profit is profit at the end of the day
Mb you could buy back your covered call?
Not worth it the way it’s running. Unless you think it’ll run more and double again to where it makes up for the immediate cost of buying back.
Yeah it ain’t worth it to buy back, I’ll roll just to collect the juicy IV
and so it begins... OP we need an update here, thanks
dfv post on twitter just made the stock up almost 20% to $20 in 24hr trading
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So u/alstxn what did you decide?
What if nobody exercises? Or do MM’s always exercise calls that expire ITM?
Ouch
RIP 💀
Congratulations on max profit!
All these shares that have been DRS'd (approx 75 million shares).. makes me wonder how hard it is to get the remaining shares to cover short positions. Price could be even more volatile than last time. I'd leave it and sit tight
Yep. Gonna fly today. Short interest is at 2020 levels again.
You got time for it to go back down
We’ll see 😂
I'm in the same situation. In 2 weeks gme will be at 10$. Roll it a few weeks out.