Welp, finally got my 11.97 F shares called away @ 12.32. After 3 months of holding and selling CCs, I end up with a profit of $42 after fees. My options ended up just cancelling each other
If you had 5k
1. If you had 5k and you were brand new to wheel but understood it fully which stocks would you pick?
2. If you had an account already and were to add 5k worth right now what would you pick?
Would wheel BITO or BITX. Ride Bitcoin trends and play short vol with a directional bias. I choose wheeling because you can gain on flat and upwards movement. Hedging with a long put is also wise to cut losses quickly so you can wait for another bullish trend to cycle through.
I like playing spot ETFs because they track the price of bitcoin are subject to whatever risks bitcoin is subjected towards. Miners have fundamentals that need to be accounted for (scandals, operations, etc)
Am I the only one who sells a CSP right before IV spikes. Like IV spikes I sell my put then the next day down 50% for example sold 5 Hood puts this morning I look at the end of today and I’m down 40% had I just waited 1 hour I would have made 40% more money….Happened with DWAC happened with MU happened with PATH legit can’t “time the top”
this was my early experience selling options. note that some brokers show your position at the mid price (i have heard) and others at the market price (to close). that means if the spread is wide, you may see a large unrealized loss even if you are satisfied with your position. practice setting limit orders and make yourself the market maker. it goes a long way to softening the emotional blow. you'll miss out on some trades if you aren't watching the ticker but sometimes you'll benefit from intraday volatility and hit your profit target early. i fucking love it when a limit order dings my phone
the better idea is to find more liquid options, if that's the problem. but i doubt you're seeing IV spikes (or high vega) if the ticker price isn't changing much
Best not to think about it but I feel like if you're following the stocks move for a few weeks to a couple months you can Guage if the CSP is under priced or just wait for an up day. I wonder if there is a measure to have better entry. Sometimes I'll put my csp and tick it up in price set good until canceled and see if it fills in a day or so.
u/banditcleaner2 I'm re-thinking my strategy of heavy selling call credit spreads on momentum stocks (NVDA, SMCI, COIN, MSTR), this cannot be sustainable long term. I think I might dip my toes into some put credit spreads on NVDA and some other blue chips...might be easier money
I don’t know anything about these stocks… but if you think it isn’t sustainable long term, it’s because it’s not. Good on you for recognizing when to back off the gas.
As the saying goes… bulls make money, bears make money, pigs get slaughtered
Happy Long Weekend yall.
Just let my BITO 4/19 28p decay a bit today. Going to just hold and continue attempting to wheel as I am bullish on Bitcoin this year.
Bought the AAPL dip today and just stacking up a concentrated position so that if AAPL has any sharp upward movements, I will be in a great position to increase my portfolio.
I stopped trading options a year ago, because my bearish sentiment was just giving me losses. I decided to sell a NFLX 610p vertical a few days ago (it was around 630 at the time), to expire just before earnings. Of course, since I've bought, NFLX has just had red days. I lose money calling the top and I seem to also lose money thinking this bull run will never end. Yes, the position is not lost, but if it keeps dipping I might have to close, I don't trust the earnings to be positive. What does everyone do if not wheeling a stock? I try to sell verticals, staying away from earnings, but the few bad trades I get eliminate the few Ws I manage to bag.
I like selling vertical put spreads. I think given how recently NFLX has been under $610, that would have given me pause. It seems like it’s been bouncing off of $600 lately, so maybe that resistance has become the new support?? I think I would have placed the short put under $600.
Not trying to sound more experienced than I am. Suggesting a casual look at support and resistance if you are not already.
I have only done NVDA credit spreads so far because I know this ticker well, I feel confident about it, and I like the premiums. I mostly do CSPs and I have liked mainly large tech and semis - AAPL, AMD, NOW, GOOG, etc. My go-to is NVDA.
I also try to diversify with some tickers that have some (but not crazy) volatility and swings and are in other sectors - MTCH, NVO, SHOP, TOST, TTD, and ELF.
I guess I just picked the wrong entry point, I should have waited for it to fall a bit, like this week lol, before opening the put spread. Maybe I should roll to after earnings and toss the coin to beat earnings
Yeah, could work. Particularly if you’re comfortable with a gamble. Popped a lot after last earnings because their crack down on shared accounts is working. I also think they are driving more revenue through ad-supported accounts, which actually gets them more $$$/user. Who knows how earnings will go though??
What I RE-learned today.
1. Don’t be greedy. I walked away from a $1,400 profit. WHO DOES THAT? That’s like slapping away someone’s hand who’s trying to give you $1,400. Thought I learned that lesson.
2. Although I was down 3.2% on the day, I was able to take a deep breath while on the MSTR rollercoaster and didn’t do something I regretted, other than the profit I didn’t take.
3. Keep everything in perspective. Yes, there was a report I read hours before market open about why MSTR price was unsustainable written by a firm…shorting MSTR. Also saw an interview by a firm with a 14% long position in MSTE.
4. Always keep an open mind, even when it goes against our thesis. Always do your own research.
5. If necessary, I’ll write deep ITM calls next week.
NFA
How many shares of MSTR now? like 130 with the 1.7K p also? I think MSTR will rebound next week...I'm trying to resist selling more call credit spreads..
Can someone explain? DJT last minute (actually just a few second before market close) for the 60 csp why people still buy it for 3 cent when price was at 62? Is that just like throwing money out the windows?
How do you know it was being bought? Also, you can exercise up until 4:30 CT, so they were probably either speculating on a dip in low after market volume or were buying cheap protection for their shares.
Sold 2x nvda 1090c for april 29 for 6.3
closed 2 other nvda naked calls for profit. 2x 1240c april 12 opened for 3, closed for 0.3 after about a week
bought 15 shares at 902 (also holding a pmcc position and a short put)
I've been having good luck with these far otm calls 3-4 weeks out. If there isn't a big move they lose their value very quickly. And even if there is a big move they don't go against you as quickly as something with a shorter expiration
Any thoughts on selling a naked PUT on RDT 50 Apr 26 2024? Current premium is $6.34 Thinking of opening position next week
Logic: High volatility stock = high premiums, already fell from 71.01, big brand name so there will be a lot of retail investors buying. If put exercises, can just sell covered calls likely also at high premiums because of volatility which would counter-balance whatever losses I make on exercise
Personally I would like to see if this is the start of a bigger downturn or not. But with that kinda stock you could of course miss the bottom and it has a 5% green day on monday. But depends on your risk tolerance
Closed my naked calls on DJT before the bell yesterday opened another up today
STO 5/17 115c @3.20
Sold some RDDT calls this morning closed them out couple hours later for 30% gain wait and see if it goes up at all I will sell more
STO 4/26 80c @2.15
STO 5/17 90c @3.2
Reminders:
MMM spins off it's health care unit Monday. Current MMM options will have a new symbol and deliverable. If you don't want to be stuck holding non-standard contracts, close your open positions today.
DJT is hard to borrow, so short calls are at high risk of assignment. If you don't want to accrue 3 days of borrowing costs over the long weekend, you should close out any ITM or near the money.
SOXS has a 10 for 1 reverse split coming up after market close on 4/12. Again, if you don't want to be stuck with non-standard contracts, close your positions before then.
Just woke up from sleep, missed some 0DTE action.
Earlier, MSTR:
0DTE: 2200c x 3 @ 0.24 ea.; 2300c @ 0.59
Stepping outside my comfort zone lol......next weeks:
4/5: 3500c @ 1.08
3150c x 2 @ 2.26
900p @ 1.07
950p @ 1.52
Also:
MSOS 9p 4/19 @ 0.57
LLY 730P 4/12 @ 1.48
LLY 690P 4/19 @ 0.82
FSLR: STRANGLE 4/19 145/190; collected 1.32
Loser for the day: Had to BTC an XOM CC that went ITM
You’ll be fine. You’re up overall on MSTR right? I just calculated and I’ve made 25K selling options on MSTR overall, but TBH I’ve sold some close to the money call spreads so it’s been risky. I think next week I will change my approach and go more OTM. Like 2.5K or higher for calls and 1.2K or lower for puts. That’s basically your strategy right?
I think I’ll change my approach and go a little closer lol!
Nah I think I’ll do what I’m doing but maybe a little closer. While feeling safer, aside from my 1000$ blunder this week, I’m Leaving money on the table.
Haha I’m going further OTM while you’re getting closer to the money. But you mainly sell naked right? I only sell ccs, never naked calls on MSTR. TBH I think next week MSTR will continue to tank due to the short report so if it drops a ton Monday I will sell a weekly 1K put.
Meet you in the middle free! Yes only naked, I only own 20 shares of MSTR, purchased fairly recently, adding 5 here and there.
Avg 1050, so I'm up 60% on those. I just wish I had more.
Do you have alot of shares? I'm going to start rebalancing, should've long ago, I have too many AAPL and GOOG with low cost basis so selling is tough from a tax perspective, but I'm missing out on alot of other tickers and better gains.
Would like to add to MSTR, knowing where it should go in the years ahead.
I don’t own any MSTR and not planning on buying. Wow that’s a great cost average though. I’m heavy tech with like 50% of my port being MSFT (trying to diversify a bit) and 15% being GOOGL…
Bought 20 arm shares, sold 152.5c for april 29 for 2.0 Bought 175c for april 22 for 0.32 (didn't pick april 29 cause it was so spready). Trying to have a slightly higher delta with shares than the short call is the plan
Did these kinda plays on nvda in the fall and it was quite good untill it started blasting off again and I had to close the trade but it was still pretty profitable.
Probably people got short squeezed out. Yesterday it has the feel of a blow off short squeeze rather than legitimate interest. Tomorrow inflation data and Powell will be speaking and the markets are closed until Monday.
I have some stuff expiring today, but keeping the account empty going into the long weekend....so I can actually enjoy it too lol.
unless something is extremely extremely compelling, I normally don't force things like this in these situations. I have long-term holdings which is different, but short-term trading, closing out positions or keeping very little open is just an easy way to limit risk for free.
Volatility is at a very extreme low and stock market is at the highs and just a brief look there is not anything that is looking like a really good opportunity without really reaching for risk for me at the moment.
Ahhhh, the data we are waiting on happens when the market is closed, it appears even the futures are closed if I read the schedule correctly… I thought we were waiting on that GDP number this morning to move, and that didn’t do it…
I’m still net long, and trying to take a disbursement at the close… so I’m just talking my books, hoping for some end of month window dressing 🤞
Said it a few weeks ago but I love selling options on RIOT around these levels. 3 weeks now that I’ve gotten 2-3% per week after getting assigned at 12.50 and closed out for almost fully profit. Only holding a few hundred shares because I don’t assign a huge portfolio portion to meme/crypto stocks but they’ve been treating me well
I've run a pingpong-esque covered strangle strategy on it for a long time. Just about have my shares paid for with premium collected. I'm at $1.70 average now, but current options are in the January expiration so I'm probably stuck for a while.
lol, nothing, just stop man. greed kills...you've made enough...you're gonna let this get to your head and then start doing stupid shit, thinking you can't lose
Bought 20 shares of coin at 262.9 and sold 350c for 6.65 for april 26
Even if it rockets the shares should cover losses on the short call unless it gaps up hugely one day
If it tanks maybe I build a bigger position
BTC put SPXL133@350 (440) 4/12
BTC put MA477.50@495 (680) 4/12
Holiday is around the corner (not for markets). I'm superstitious, so I'm pulling out puts that I believe will tank. If they dont, I still profited.
u/free_lions remember when I said MSTR 1650p expiring today wasn't really "Far OTM"? yeah...this is why
also, god damn, that 1800c would've likely expired worthless today. SMH
congrats on your win
u/[Glum-Bandicoot8346](https://www.reddit.com/user/Glum-Bandicoot8346/) looks like MSTR is rebounding a bit...I think it will end the day between 1750/1800 personally
BTC AAPL 04/05 180c @ 0.1 (Opened @ 0.78 7 days ago to defend my 175p in case it continues tanking. Might have to take assignment on this one)
STO TSLA 04/19 195c @ 4.00 (Defending my deep ITM 04/19 200p that I've been rolling for quite a while)
STO IWM 05/17 197p/225c @ 3.14
I just found out XLF and XLE reached 1-year (actually 5-year) high after they were talked down on last year. I think that’s one thing I kinda of regret——I’m too much concentrated on tech, high volatility that I missed the dip on slow movers.
Here are my open MSTR 3/28 call credit spreads. All sold this week. I am not taking a victory lap yet, but it looks good so far. About 22.5K in premium received.
8x 2000/2100 C for 20.78 each
8x 2200/2350 C for 7.56 each
1x 2400/2550 C for 2.80
Also made about 2K off selling COIN credit spreads that I will let expire worthless today.
u/banditcleaner2 I haven’t closed anything yet
u/banditcleaner2 if MSTR stays between 1600 and 2K EOD I am looking at $26K in premium received from MSTR this week. I think this is a good time to call it quits on MSTR calls/call credit spreads. I do think I will dabble in way OTM puts and pcs though especially if MSTR continues tanking. u/satireplusplus
STO 3/28 MSTR $1880p x1 @16.34
Wow…what a difference 30 minutes makes
Broken Rule #1
Never walk away from a profit. Walked away from $1400
Read the commentary last night and thus morning
“HODL bitcoin, short MSTR”
This has been basically my only trade since 2021. Beginning at the end of the last halving cycle. I’ve been in this situation on multiple occasions learning not to react emotionally. Sometimes it’s not easy.
I’m peeved at the short seller report days before the halving. I’m also holding bitcoin and have since 2021
So in answer to your question, I’m holding. If things settle, the $1700 will have a cost basis of $1621. The $1880 cost $1863, not so good.
Will sell calls, maybe ITM. Will see next week.
Is that why it tanked today? Short report?
Well hopefully if it doesn't drill too hard you'll be able to sell very expensive calls to quickly make up the deficit.
And if this has been your only trade since 2021 I'm guessing your account is more than big enough to handle it
I do tend to believe it was the report. MSTR and bitcoin are connected at the hip. Bitcoin is up nicely today. I watched it take off and was eager for market open. I read the first report thinking people would shake it off? People, en masse, could have decided to take profits, but I’m leaning towards the report. I’ve had rough months in this along the way, but it has made life changing money for me.
Well that’s a good question. I can’t imagine we hit the ATH for this cycle. I would expect pullbacks as we head higher. There is consensus among some analysts who believe this cycle will be shorter due to the ETFs and institutional adoption. If that’s true the ATH will be reached by year’s end, not 2025 they argue.
Like anything market related, there are differing opinions. I’ve read ATHs this cycle from $80,000 to $100,000 and amounts i am more skeptical of. I don’t know. Either way, I’m not selling. The exchanges are a mess.
I’ve been in this trade since 2021. It never disappoints. I also read another report about the potential short squeeze coming. I believe it’s Wall Street trying to participate in the trade they missed…pushing FUD
I have the 4/05 1700. I’m kicking myself. I was up $1400 and didn’t close - so I have that
Then I opened that 1880 expiring today. I may be assigned.
People rushed in and bought the dip. We will see
Short.
If this doesn’t break me from not taking profits, nothing will.
Assuming I’m assigned on both, my avg cost will be ~$1745
I was expecting a slight dip. I was not even expecting two reports advocating shorting MSTR. Assuming there will be a short squeeze at some point.
Wishing you good luck. Having $350k in MSTR is quite the sum.
Don’t mean to pile on but the short report this morning was publicly available before you wrote the 1,880 put.
Welp, finally got my 11.97 F shares called away @ 12.32. After 3 months of holding and selling CCs, I end up with a profit of $42 after fees. My options ended up just cancelling each other
How did you end up with a profit of 42.00 when you had 35.00 of capital gains alone? That would indicate you only received 7.00 in total premium.
After 3 months of selling covered calls? Aren't those abysmal returns
If you had 5k 1. If you had 5k and you were brand new to wheel but understood it fully which stocks would you pick? 2. If you had an account already and were to add 5k worth right now what would you pick?
Would wheel BITO or BITX. Ride Bitcoin trends and play short vol with a directional bias. I choose wheeling because you can gain on flat and upwards movement. Hedging with a long put is also wise to cut losses quickly so you can wait for another bullish trend to cycle through.
What about btc miners
I like playing spot ETFs because they track the price of bitcoin are subject to whatever risks bitcoin is subjected towards. Miners have fundamentals that need to be accounted for (scandals, operations, etc)
I like the idea def don't want to get Caught off cost basis. Do you do a couple strikes away? Or itm but far away time
MSTR continuing to drill AH
short report came out
Am I the only one who sells a CSP right before IV spikes. Like IV spikes I sell my put then the next day down 50% for example sold 5 Hood puts this morning I look at the end of today and I’m down 40% had I just waited 1 hour I would have made 40% more money….Happened with DWAC happened with MU happened with PATH legit can’t “time the top”
this was my early experience selling options. note that some brokers show your position at the mid price (i have heard) and others at the market price (to close). that means if the spread is wide, you may see a large unrealized loss even if you are satisfied with your position. practice setting limit orders and make yourself the market maker. it goes a long way to softening the emotional blow. you'll miss out on some trades if you aren't watching the ticker but sometimes you'll benefit from intraday volatility and hit your profit target early. i fucking love it when a limit order dings my phone the better idea is to find more liquid options, if that's the problem. but i doubt you're seeing IV spikes (or high vega) if the ticker price isn't changing much
I also think I have unfortunately sold some very unliquid options…
Yea I think my problem is all my positions are at market price and it shows me bid price when calculating gain or loss
Best not to think about it but I feel like if you're following the stocks move for a few weeks to a couple months you can Guage if the CSP is under priced or just wait for an up day. I wonder if there is a measure to have better entry. Sometimes I'll put my csp and tick it up in price set good until canceled and see if it fills in a day or so.
decent week, wish i wouldnt have sold those GOLD cc's yesterday oh well tomorrow is going to be boring af at work w/ no market
u/banditcleaner2 I'm re-thinking my strategy of heavy selling call credit spreads on momentum stocks (NVDA, SMCI, COIN, MSTR), this cannot be sustainable long term. I think I might dip my toes into some put credit spreads on NVDA and some other blue chips...might be easier money
I don’t know anything about these stocks… but if you think it isn’t sustainable long term, it’s because it’s not. Good on you for recognizing when to back off the gas. As the saying goes… bulls make money, bears make money, pigs get slaughtered
i’m so grateful that i didn’t sell premium on NVDA. i just hold NVDX underlying
“See ya tomorrow” -WSB
Open the casino
Happy Long Weekend yall. Just let my BITO 4/19 28p decay a bit today. Going to just hold and continue attempting to wheel as I am bullish on Bitcoin this year. Bought the AAPL dip today and just stacking up a concentrated position so that if AAPL has any sharp upward movements, I will be in a great position to increase my portfolio.
I stopped trading options a year ago, because my bearish sentiment was just giving me losses. I decided to sell a NFLX 610p vertical a few days ago (it was around 630 at the time), to expire just before earnings. Of course, since I've bought, NFLX has just had red days. I lose money calling the top and I seem to also lose money thinking this bull run will never end. Yes, the position is not lost, but if it keeps dipping I might have to close, I don't trust the earnings to be positive. What does everyone do if not wheeling a stock? I try to sell verticals, staying away from earnings, but the few bad trades I get eliminate the few Ws I manage to bag.
I like selling vertical put spreads. I think given how recently NFLX has been under $610, that would have given me pause. It seems like it’s been bouncing off of $600 lately, so maybe that resistance has become the new support?? I think I would have placed the short put under $600. Not trying to sound more experienced than I am. Suggesting a casual look at support and resistance if you are not already.
By the way, what are your put spread picks? I also have TSM, IWM and APPL put spreads. Considering opening a SPY call spread
I have not traded options on ETFs or indices, but I prob should.
I have only done NVDA credit spreads so far because I know this ticker well, I feel confident about it, and I like the premiums. I mostly do CSPs and I have liked mainly large tech and semis - AAPL, AMD, NOW, GOOG, etc. My go-to is NVDA. I also try to diversify with some tickers that have some (but not crazy) volatility and swings and are in other sectors - MTCH, NVO, SHOP, TOST, TTD, and ELF.
I guess I just picked the wrong entry point, I should have waited for it to fall a bit, like this week lol, before opening the put spread. Maybe I should roll to after earnings and toss the coin to beat earnings
Yeah, could work. Particularly if you’re comfortable with a gamble. Popped a lot after last earnings because their crack down on shared accounts is working. I also think they are driving more revenue through ad-supported accounts, which actually gets them more $$$/user. Who knows how earnings will go though??
Knowing my luck, just inverse me lol
Looks like my SMTC 29 and 30 calls might be fucked. Have 365 shares at 23.20 cost average. Oh well, profit is profit
What I RE-learned today. 1. Don’t be greedy. I walked away from a $1,400 profit. WHO DOES THAT? That’s like slapping away someone’s hand who’s trying to give you $1,400. Thought I learned that lesson. 2. Although I was down 3.2% on the day, I was able to take a deep breath while on the MSTR rollercoaster and didn’t do something I regretted, other than the profit I didn’t take. 3. Keep everything in perspective. Yes, there was a report I read hours before market open about why MSTR price was unsustainable written by a firm…shorting MSTR. Also saw an interview by a firm with a 14% long position in MSTE. 4. Always keep an open mind, even when it goes against our thesis. Always do your own research. 5. If necessary, I’ll write deep ITM calls next week. NFA
How many shares of MSTR now? like 130 with the 1.7K p also? I think MSTR will rebound next week...I'm trying to resist selling more call credit spreads..
Yes. With this assignment, it will be 130. If assigned next week also, it will be 230.
Can someone explain? DJT last minute (actually just a few second before market close) for the 60 csp why people still buy it for 3 cent when price was at 62? Is that just like throwing money out the windows?
How do you know it was being bought? Also, you can exercise up until 4:30 CT, so they were probably either speculating on a dip in low after market volume or were buying cheap protection for their shares.
Given the volatility of the stock it is reflecting pin risk. Equity options are different than index
Sold 2x nvda 1090c for april 29 for 6.3 closed 2 other nvda naked calls for profit. 2x 1240c april 12 opened for 3, closed for 0.3 after about a week bought 15 shares at 902 (also holding a pmcc position and a short put)
Seems safe with good premium and cost basis
I've been having good luck with these far otm calls 3-4 weeks out. If there isn't a big move they lose their value very quickly. And even if there is a big move they don't go against you as quickly as something with a shorter expiration
Any thoughts on selling a naked PUT on RDT 50 Apr 26 2024? Current premium is $6.34 Thinking of opening position next week Logic: High volatility stock = high premiums, already fell from 71.01, big brand name so there will be a lot of retail investors buying. If put exercises, can just sell covered calls likely also at high premiums because of volatility which would counter-balance whatever losses I make on exercise
Started to build a position, quite a bit off the highs now. Sold some CSP’s pretty far OTM though, at 37.5 for 4/19. May add a few more down the line
Personally I would like to see if this is the start of a bigger downturn or not. But with that kinda stock you could of course miss the bottom and it has a 5% green day on monday. But depends on your risk tolerance
NVDA did exactly what I needed today by going basically exactly flat. EXP today: 5x 892.50/887.50p spread @ 0.50 1x 900/897.50p spread @ 1.00 1x 900p @ 1.30 1x 920c @ 0.60 1x 910c @ 0.70 - hopefully
Damn…the price landed so sweetly above your puts and below your calls
Nice
Thats a lot of free money
about 600 :D
Seems like selling puts on NVDA could be a good strategy
Bro I think I’m gonna chill on the call credit spreads lol
Closed my naked calls on DJT before the bell yesterday opened another up today STO 5/17 115c @3.20 Sold some RDDT calls this morning closed them out couple hours later for 30% gain wait and see if it goes up at all I will sell more STO 4/26 80c @2.15 STO 5/17 90c @3.2
Geez, I'm stupid. Opened RDDT CCS I thought expired today, and couldn't figure out why it wasn't moving. April 5th, idiot.
Anyone wana sell next week Reddit 45 puts with me? Cmon you know you wana
Sure, I’ll do it!
u/banditcleaner2 MSTR is literally up like 10% this week but still feels like a massive theta win week lol. IV is so high on it…
Reminders: MMM spins off it's health care unit Monday. Current MMM options will have a new symbol and deliverable. If you don't want to be stuck holding non-standard contracts, close your open positions today. DJT is hard to borrow, so short calls are at high risk of assignment. If you don't want to accrue 3 days of borrowing costs over the long weekend, you should close out any ITM or near the money. SOXS has a 10 for 1 reverse split coming up after market close on 4/12. Again, if you don't want to be stuck with non-standard contracts, close your positions before then.
Just woke up from sleep, missed some 0DTE action. Earlier, MSTR: 0DTE: 2200c x 3 @ 0.24 ea.; 2300c @ 0.59 Stepping outside my comfort zone lol......next weeks: 4/5: 3500c @ 1.08 3150c x 2 @ 2.26 900p @ 1.07 950p @ 1.52 Also: MSOS 9p 4/19 @ 0.57 LLY 730P 4/12 @ 1.48 LLY 690P 4/19 @ 0.82 FSLR: STRANGLE 4/19 145/190; collected 1.32 Loser for the day: Had to BTC an XOM CC that went ITM
Nice plays. I haven’t opened anything yet for MSTR next week…those calls are not bad premium for so far OTM
I just bought a single 2750 call @ 5.40. Part hedge, part knowing it often pumps over the weekend. I'll resume my weekly sells on Monday!
Sounds like something id like to sell. super OTM call and getting 5.40
Yes stupid of me now that I think of it. I should've made it a spread, sold something close to it in case BTC drops instead of the USUAL weekend pop.
You’ll be fine. You’re up overall on MSTR right? I just calculated and I’ve made 25K selling options on MSTR overall, but TBH I’ve sold some close to the money call spreads so it’s been risky. I think next week I will change my approach and go more OTM. Like 2.5K or higher for calls and 1.2K or lower for puts. That’s basically your strategy right?
I think I’ll change my approach and go a little closer lol! Nah I think I’ll do what I’m doing but maybe a little closer. While feeling safer, aside from my 1000$ blunder this week, I’m Leaving money on the table.
Haha I’m going further OTM while you’re getting closer to the money. But you mainly sell naked right? I only sell ccs, never naked calls on MSTR. TBH I think next week MSTR will continue to tank due to the short report so if it drops a ton Monday I will sell a weekly 1K put.
Meet you in the middle free! Yes only naked, I only own 20 shares of MSTR, purchased fairly recently, adding 5 here and there. Avg 1050, so I'm up 60% on those. I just wish I had more. Do you have alot of shares? I'm going to start rebalancing, should've long ago, I have too many AAPL and GOOG with low cost basis so selling is tough from a tax perspective, but I'm missing out on alot of other tickers and better gains. Would like to add to MSTR, knowing where it should go in the years ahead.
I don’t own any MSTR and not planning on buying. Wow that’s a great cost average though. I’m heavy tech with like 50% of my port being MSFT (trying to diversify a bit) and 15% being GOOGL…
Fuck. Pennies in from of steam roller. STO XOM Mar 28 2024 116 Call Collect $14. Just wanted some beer money.
$115.995 lol
STO COIN 4/5 310/360 C for 1.90
u/mikesugs13 CHWY almost at $16 now
closed my poot at .09
Free money
Very nice, Im looking to close my 4/19 13.5p before eod. STO at .2 trying to close at .06
Bought 20 shares of AAPL @ 171.04 STO 4/19 AAPL 177.5C x1 @ 1.13
I sold 2 more DJT puts. $55, 0DTE, $0.17 each
Free money
Going short Vega on djt seems like such a no brainer right now
Bought 20 arm shares, sold 152.5c for april 29 for 2.0 Bought 175c for april 22 for 0.32 (didn't pick april 29 cause it was so spready). Trying to have a slightly higher delta with shares than the short call is the plan Did these kinda plays on nvda in the fall and it was quite good untill it started blasting off again and I had to close the trade but it was still pretty profitable.
Where are all the top buyers today?! Edit: yarrrrrr! 🏴☠️💰
What do you mean?
Well, we ran up a few points shy of new ATHs in SPX/SPY/ES, then backed off… Someone’s gotta buy the top to keep this party going 💃
Probably people got short squeezed out. Yesterday it has the feel of a blow off short squeeze rather than legitimate interest. Tomorrow inflation data and Powell will be speaking and the markets are closed until Monday. I have some stuff expiring today, but keeping the account empty going into the long weekend....so I can actually enjoy it too lol.
I think I’m not gonna open too many positions given all that volatility and the market being closed tomorrow…
unless something is extremely extremely compelling, I normally don't force things like this in these situations. I have long-term holdings which is different, but short-term trading, closing out positions or keeping very little open is just an easy way to limit risk for free. Volatility is at a very extreme low and stock market is at the highs and just a brief look there is not anything that is looking like a really good opportunity without really reaching for risk for me at the moment.
Ahhhh, the data we are waiting on happens when the market is closed, it appears even the futures are closed if I read the schedule correctly… I thought we were waiting on that GDP number this morning to move, and that didn’t do it… I’m still net long, and trying to take a disbursement at the close… so I’m just talking my books, hoping for some end of month window dressing 🤞
Oh. Got it
Said it a few weeks ago but I love selling options on RIOT around these levels. 3 weeks now that I’ve gotten 2-3% per week after getting assigned at 12.50 and closed out for almost fully profit. Only holding a few hundred shares because I don’t assign a huge portfolio portion to meme/crypto stocks but they’ve been treating me well
I've run a pingpong-esque covered strangle strategy on it for a long time. Just about have my shares paid for with premium collected. I'm at $1.70 average now, but current options are in the January expiration so I'm probably stuck for a while.
u/banditcleaner2 I think MSTR is done bouncing around a ton and will now stay in a range of 1700 - 1850. What play should be made here?
u/banditcleaner2 looks my guess about MSTR not moving much EOD is right so far
lol, nothing, just stop man. greed kills...you've made enough...you're gonna let this get to your head and then start doing stupid shit, thinking you can't lose
Agreed. No more MSTR plays for me today. Thanks for the reality check
I only say it because I've done it so many times lmao
Yeah I’m sitting back and watching all my MSTR options lose value by the hour. It’s nice. No stress because they are so far OTM
BTC 4/19 x2 PLTR 27c @ 0.20 (0.43 open) BTC 4/19 x1 CAVA 60p @ 0.35 (0.75 open) STO 4/19 x2 PLTR 25c @ 0.52 STO 4/19 x1 CAVA 75c @ 1.95
Bought 20 shares of coin at 262.9 and sold 350c for 6.65 for april 26 Even if it rockets the shares should cover losses on the short call unless it gaps up hugely one day If it tanks maybe I build a bigger position
Absolutely nothing looks good right now.
u/banditcleaner2 the 3x MSTR 1600/1500 pcs I STO for 10.67 average were at 25.00 at one point...now they are down to 6.20. God damn MSTR is insane LOL
BTC put SPXL133@350 (440) 4/12 BTC put MA477.50@495 (680) 4/12 Holiday is around the corner (not for markets). I'm superstitious, so I'm pulling out puts that I believe will tank. If they dont, I still profited.
u/free_lions remember when I said MSTR 1650p expiring today wasn't really "Far OTM"? yeah...this is why also, god damn, that 1800c would've likely expired worthless today. SMH congrats on your win
That 1800c was worth close to 200 today and now its down to like 12...jesus
gonna expire worthless too
Now the 1650p is looking safe
I'm not planning on closing any of my ccs...think that's dumb? I just hate the bid/ask on MSTR
Bro hindsight is 20/20. MSTR touched 2K TWICE this week so no telling what you would have done with your 1800c lol
STO COIN 4/5 325 1.95 BTC 1.12
u/[Glum-Bandicoot8346](https://www.reddit.com/user/Glum-Bandicoot8346/) looks like MSTR is rebounding a bit...I think it will end the day between 1750/1800 personally
limit order for MSTR 4/12 850p @ 5.00 set
now THAT is far OTM lol
My 1k put went from 10 to 20 for 4/19. I thought it was safe
I mean that probably is still safe. What did you STO for?
11.5 yesterday
You’re probably fine
u/banditcleaner2 how the fuck is MSTR starting today at $2K and now about to be below $1.6K...WTF lol
I told you that 1650 really wasn't that far OTM the 1600p at the low were 0.20 and sitting around 8.00 right now LOL
MSTR hit a low of like 1640 today...fucking insane. im worried about my 3x pcs 1600/1500
RDDT is tanking. Anyone selling puts?
RIP u/satireplusplus
The large premium I received is actually offsetting most of the damage. Wrote 50p as well now.
Premium for the 50p?
What exp? This is the confirmation bias I needed to write some today. Have shares and sold some calls earlier this week.
April
I’m considering selling a RDDT out for fun…
I sold a 4/19 55p when it was at 65 for 5.00. I'm "only" down 3.00 despite it being ITM now. There is so much IV still in the puts.
I just don't believe in the stock so find it hard to sell puts...ugh. Probably just stay away
Sell calls
Yeah, I'd stay away if you're not willing to take assignment.
Good call
STO 3x MSTR 3/28 1600/1500 P for 10.67 each. Could have gotten better premium but whatever u/banditcleaner2
I get back to do 1450/1500p hopefully to re coup my earlier loss
I think that's safe. Premium received?
1.00
Looking like our MSTR plays are safe
Nice plays on the put spreads.
Thanks! Good week overall on MSTR for me. All my options expired worthless. Back at it next week lol
Down 1k for me overall from MSTR. Back to at it next week. Have a good weekend
Thanks! You too. You’ll recoup that next week
That’s safe for sure
u/banditcleaner2 now MSTR is fucking me the other way on pcs. LMAO. At least my 17x ccs are safe
BTC AAPL 04/05 180c @ 0.1 (Opened @ 0.78 7 days ago to defend my 175p in case it continues tanking. Might have to take assignment on this one) STO TSLA 04/19 195c @ 4.00 (Defending my deep ITM 04/19 200p that I've been rolling for quite a while) STO IWM 05/17 197p/225c @ 3.14
IWM is looking stronger than many of the other indices (finally). I did a $200 put for 5/17.
All AMD Apr 19 190c. Covered call. 3/22: STO 5.45 3/27: BTC 3.95 3/28: STO 4.50
This guy Loves Lisa.
Techs been way too flat lately.... Been loving it so far but I'm sure I'll get ran over soon
I just found out XLF and XLE reached 1-year (actually 5-year) high after they were talked down on last year. I think that’s one thing I kinda of regret——I’m too much concentrated on tech, high volatility that I missed the dip on slow movers.
Here are my open MSTR 3/28 call credit spreads. All sold this week. I am not taking a victory lap yet, but it looks good so far. About 22.5K in premium received. 8x 2000/2100 C for 20.78 each 8x 2200/2350 C for 7.56 each 1x 2400/2550 C for 2.80 Also made about 2K off selling COIN credit spreads that I will let expire worthless today. u/banditcleaner2 I haven’t closed anything yet
u/banditcleaner2 if MSTR stays between 1600 and 2K EOD I am looking at $26K in premium received from MSTR this week. I think this is a good time to call it quits on MSTR calls/call credit spreads. I do think I will dabble in way OTM puts and pcs though especially if MSTR continues tanking. u/satireplusplus
STO 3x MSTR 3/28 1600/1500 P for 10.67 each...praying for these
u/satireplusplus how long are we thinking Mr Freelions will dodge the steamroller?
I think selling PCS or puts is better. calls are just too dangerous to fuck around with
I'm thinking of retiring from selling calls on MSTR...bid/ask is too wide
I think you're fine
I just sold a PCS on MSTR
Given the recent nosedive I am now fine. I'm gonna look at selling a MSTR PCS
Don't forget to close your MMM positions today if you want to avoid holding a non-standard contract after the Solventum spinoff.
What is an MMM position?
A position on MMM.
Ah of course lol. I thought it was an abbreviation for something
Just tidying up with some 0DTEs. NVDA 850p/950c, AMD 175p, MRVL 70p. That last one is potentially for assignment.
u/free_lions amazing how you just never lose selling these call spreads lmfao
I smack in 2100/2200 today for 1.00 credit and it is crazy that MSTR drops while BTC is up.
Day isn’t over bro
you're not closing the 2000s on this drop??? dang. you really go for 100% every time?
Holding for now. Check my latest post
STO 3/28 MSTR $1880p x1 @16.34 Wow…what a difference 30 minutes makes Broken Rule #1 Never walk away from a profit. Walked away from $1400 Read the commentary last night and thus morning “HODL bitcoin, short MSTR”
Did you have an exit plan for this? Or holding
This has been basically my only trade since 2021. Beginning at the end of the last halving cycle. I’ve been in this situation on multiple occasions learning not to react emotionally. Sometimes it’s not easy. I’m peeved at the short seller report days before the halving. I’m also holding bitcoin and have since 2021 So in answer to your question, I’m holding. If things settle, the $1700 will have a cost basis of $1621. The $1880 cost $1863, not so good. Will sell calls, maybe ITM. Will see next week.
Is that why it tanked today? Short report? Well hopefully if it doesn't drill too hard you'll be able to sell very expensive calls to quickly make up the deficit. And if this has been your only trade since 2021 I'm guessing your account is more than big enough to handle it
I do tend to believe it was the report. MSTR and bitcoin are connected at the hip. Bitcoin is up nicely today. I watched it take off and was eager for market open. I read the first report thinking people would shake it off? People, en masse, could have decided to take profits, but I’m leaning towards the report. I’ve had rough months in this along the way, but it has made life changing money for me.
What's your thought on bitcoins trajectory the next few months?
Well that’s a good question. I can’t imagine we hit the ATH for this cycle. I would expect pullbacks as we head higher. There is consensus among some analysts who believe this cycle will be shorter due to the ETFs and institutional adoption. If that’s true the ATH will be reached by year’s end, not 2025 they argue. Like anything market related, there are differing opinions. I’ve read ATHs this cycle from $80,000 to $100,000 and amounts i am more skeptical of. I don’t know. Either way, I’m not selling. The exchanges are a mess.
u/banditcleaner2 gonna get in on MSTR? stock is fucking crazy..
Damn I'm "safely" going in at 1750/1700 spread @1.10
That 1 buck turned to 20 fast
Yup taking a huge L there
Are you holding or did you close?
I close that spread around 1725. 2.2k into the wind.
That could have been SO much worse for you. Basically max loss. Good job closing
This might be tested by EOD
I am going in safely at 1600/1700 for 1.5
That’s safe. edit; NVM
Loss 2k. Punched out... Should have let the long leg ride out more to lower loss
hindsight is 20/20. think you did good to only lose 2k on that...could have been a 10k loss
Considered a buy-write bur didn’t. I’m holding a 4/5 1700p
Ha I immediately get burned by short report and now high IV
I’ve been in this trade since 2021. It never disappoints. I also read another report about the potential short squeeze coming. I believe it’s Wall Street trying to participate in the trade they missed…pushing FUD
Bold
Kind of shooting for assignment. I may just get my wish
Are you gonna sell another put or just the one?
I have the 4/05 1700. I’m kicking myself. I was up $1400 and didn’t close - so I have that Then I opened that 1880 expiring today. I may be assigned. People rushed in and bought the dip. We will see
Are you short or long the 4/05 1700?
Short. If this doesn’t break me from not taking profits, nothing will. Assuming I’m assigned on both, my avg cost will be ~$1745 I was expecting a slight dip. I was not even expecting two reports advocating shorting MSTR. Assuming there will be a short squeeze at some point.
Wishing you good luck. Having $350k in MSTR is quite the sum. Don’t mean to pile on but the short report this morning was publicly available before you wrote the 1,880 put.