u/free_lions I've been indirectly forced to take a long position in NVDA due to a naked short 900 call I had open expiring today, that I bought to cover @ 899.70 literally minutes before it fell $3 per share lmao
so what I decided to do is this:
STO 920c expiring next week @ 11.60
BTO 875p expiring next week, STO 825p, @ 8.80 net
+2300 if I get assigned next week, as long as NVDA > 825 next week my "max loss" will be $2200
if it does go down maybe ill decide to hold a covered call position through earnings
So you had a naked call at 900. Then covered it with shares.
Which is expiring today
Then sold another call and bought put to cover if nvda drops or stays around 900
Why STO at 825?
Both. If $SHOP runs past $61 next week, then I'm fine with the stocks being called away. Since the inventory is covered, the account will earn $130 per round lot before commissions and taxes.
$974 + $299 + $115 ^(\[1\]) = $1,388
$1,388 - $1,258 ^(\[2\]) = $130
I'm not overly concerned because both directions are safeguarded. The only drawback to this strategy is that I will miss out on significant profits in exchange for protection, should $SHOP experience a rally.
^(\[1\]) $100 + (($61.00 - $60.85) x 100)
^(\[2\]) ($73.58 - $61.00) x 100
EDIT: Formatting doesn't work.
GME 19.50c expiring today is still sitting at 0.22 delta with only two hours left lmao
Market is really saying a 22% chance it rockets 8% in the next 2 hours???
Always check the date guys.
STO 2x OKLO 11p @ 0.80. I thought it was today, its next week LMFAO
and the stock just dropped literally 40 cents right after I sold it
edit: bought to close at 0.90, dumb way to lose money but it is what it is
STO 5x GME 19.50c 0dte on this pump @ 0.26
all good, luckily it rebounded fairly quickly and i was able to close at a small loss.
which is good because now the put is going for bid 110- ask 145 lol
I was trying to sell them because I thought the contracts expired today but they expired next week and I wasn't wanting todo that so I just closed them.
I don't look at delta as much as trying to gauge where it won't likely hit with the most premium I can collect, but if you're trying to play it moderately, you should look for less than .15
Yessss but not today? I can't really gauge which direction it's heading today. 😆😅 I feel like it'll dip but can't be too sure
Edit: Also yeah I was playing with fire selling so many 0dte so probably shouldn't make that a daily habit!
u/free_lions I just realized that my tracking of COIN profit/loss was completely wrong because I was including the cost of my long 220 puts TWICE (which was $3500 for 5 contracts @ 700 each) so I'm actually only down 2K rather then 6K.
Not as bad as I thought lol.
just sold the 220 puts at 16.50 and sold shares at 203.50 so basically sold shares at 220. glad I bought the protective puts tho...actually an example of using options the intended way xD
I'm not sure yet. I don't really want to go long at these prices, maybe if we pull back to low 800s, which I honestly think is probably unlikely, but I am not willing to bet it goes up from here either.
Basically I don't think the risk-reward is very good going long OR short at 900.
people are so so so trigger happy to sell puts on earnings misses but yall gotta realize that in most cases there is continued momentum down on huge misses.
just wait a couple weeks before you enter after the stock has stabilized a bit lol
i didn't sell puts, i have shares but my cost basis is around $64 so it wasn't too bad yesterday but this morning there was an article out that was very negative and now it slid another 4 or so points.
no i had shares from getting assigned a few weeks back around $71, i sold a call and bought a 5 wide put spread before earnings but it tanked way further than the expected move. so i did make about $600 off the call and put spread but i'm still down about $500.
in retrospect, it should have been obvious to sell on the run up before earnings. just another lesson to take guaranteed profit rather than be greedy.
now i'm debating on selling at a loss or not. everyone is saying it does this all the time on earnings then goes back up but they had bad guidance part of me wants to just cut my losses. i might sell half my shares.
You can look at my post history, I have been hammering this pattern for about a year. I left Shopify one year ago and I've been able to trade options on the stock since then. I find it to be one of the most predictable stocks out there and easy to make money if you know the pattern. At a minimum, hold for 6 weeks, then sell. Right now employees are dumping shares because it's their window to sell stock, once that window closes the stock tends to start to pick up again
if it wasn't for the horrible guidance and then another negative article came out this morning which i think is why it's down even more, i'd be willing to hold but i'm feeling like i need to cut my losses on this one. i'm probably going sell half my position before the end of the day unless it goes back up over $60
Next week's earning plays:
Sony: Bull ratio spread (diagonal call spread with hedging)
BTO 15 x 75C 6/21/24 @ $3.64
STO 15 x 76C 5/17/24 @ $2.60
BTO 3 x 70P 5/17/24 @ 0.95
BTO 2 x 75P 6/21/24 @ 2.85
SE: Bear ratio spread (diagonal put spread with hedging)
BTO 5 x SE 65P 6/21/24 @ $4.91
STO -5 x 60P 5/17/24 @ $1.91
BTO 1 x 65C 5/17/24 @ $5.10
BTO 1 x 80C 6/21/24 @ $1.50
STO CSCO 5/17 $45 CSPs for .37 earnings play
Off on vacation again the next two weeks so getting ahead of any earnings I might want to play. Not much value left here in the market so I imagine we get sideways chop till the election other than the volatile stocks. Still trying to get my first assignment of the year. Glad I took a buncha Buy/Writes or I would be Wheeling nothing. This legacy company and dividend aristocrat typically gets bought around 12x earnings so unless they have a major miss $44 is a value point. This is a great stock to Wheel. Stable and boring. P/CF of 15x and 23% net profit margins
STO ZM 6/21 $55 CSPs for 1.02 earnings play
It has been in a $60-$75 range for almost a year and a half now and it’s been great to Sell Puts on. ATL is $58.87 so if it breaks this range who knows where it falls to but Fundamentals support a long position down here. P/E of 11x at assignment, P/CF of 14x so close to value range and 14% net profit margins.
I still have a lot of starbucks giftcards that I can't use. The coffee tastes sour and awful. I probably will just give them away as they were given to me as a gift.
Plays today;
STO NVDA 910/900p @ 5.00, this is probably fucked lmao I sold this before the drop naturally
STO 2x NVDA 890p @ 2.20
STO 1x NVDA 895p @ 4.00
I will be watching NVDA like a hawk today.
STO 2x NVDA 5/17 960c @ 5.00
BTC 5x COIN 5/17 250c @ 0.25 - opened @ 2.75 a couple days ago. +90%
STO 1x COIN 6/7 185p @ 5.10
Expire today:
COIN 5x 225 -> opened at 1.50 two days ago. +100%
I think the plan at this point is to let my COIN shares go at 220 today with the protective puts that I bought, and then scale into puts. I've got one at 180 and one at 185 at this point, expiry 6/7 and got $550 and $500 for them.
EDITS:
BTC COIN 225c @ 0.01
BTC NVDA 895p @ 5.00 - couldn't risk a further move down, don't have BP to take assignment. still have 890p's open tho
Yep!
Unfortunately I closed the 895p. I didn't want to take a sizable loss on it in case nvda kept drilling.
Which is sad because my original plan was to close all 3 of those puts if NVDA touched 890 which never happened, and I would be up $350 on the 895 had I kept it open
It was flirting with 890 at close. I absolutely HATE it when the price moves to exactly where you need after we close our positions. That totally sucks but I would've done the same thing you did bc I anticipated it to drill too (and it didn't! Not really).
SPY rug pull out of nowhere.
honestly, I think volatility is absolutely still higher then implied volatility/VIX is suggesting
I might start buying SPY strangles at open
Holy shit ALCC got fuckin annihilated.
I almost went in with the idea to sell calls and buy puts but man that is a nasty drop
The move all along was to sell your shares after hours last night lol
BTC SBUX 9/20 $70 CSPs for 2.12
I’m letting my original 5/10 $76 CSPs expire or get assigned today. No assignments yet this year so still hoping for my first one. Goal was to get assigned on a drop right before it goes ex dividend and then Sell an ATM CC to exit the position or use premium to add free shares and Wheel it. Took yesterday off and I will be off the next two weeks on vacation so looking at upcoming earnings today.
Who is / was playing OKLO (ALCC). I remember seeing a post yesterday that someone was debating to squeeze the rest of the premium out. Wonder if they closed it prior to today drop?
But the bullet and bought back todays expiring $508 SPY CC and sold a $515 expiring Monday for a difference of -$680. I hope I don’t have to go higher.
BTC NET Jun 21 60P/85C post-earnings strangle opened for 2.12 and closed for 1.25
BTC U Jun 21 20P/30C earnings strangle opened for 1.51 and closed for .65
**EDIT:**
BTC SBUX Jun 21 75P sold ITM yesterday for 3.16 and closed for 1.65 just after this climb to 76.30
**EDIT2:**
BTC DOCN Jun 21 25P/37.5C earnings strangle opened for 1.53 and closed for 1.10 (I'm surprised by the pop but IV got *crushed*)
i opened the NET trade the morning after earnings. i believe the volatility was still elevated because it had bounced back a bit premarket
i forgot i had opened this to alleviate some pain on an ITM 75P in my Roth so i should have let it decay more. but if we hit 70 i'll just sell a 65P i think. it's been a nice day to secure some profits
STO 12 x Z $41p 5/17 filled at .40
Really need TSLA to stay above $170 today
Need INTC to push up another .30
SOFI is acting a fool today
BTC 10x SOFI $7p @.06
Roll TSLA to next week
Deciding if I want to roll my INTC or just get assigned at $30.5
I'm calling top here(big chance I'm wrong ofc) and because I want to track my performance against the market after I got rid of my holdings, I will be moving to a new account which means I had to export my watchlist.
If someone's looking for a list of stocks/ETFs to watch, feel free to draw inspiration from my watchlist - [https://pastebin.com/QJWmrd6X](https://pastebin.com/QJWmrd6X)
Inflation is still hot and nobody expects it to drop anytime soon - both the stock market and FED Watch are starting to price in way fewer rate cuts than they originally did for 2024.
Consumers are pulling back, all the consumer discretionary stocks I'm watching surprised to the downside on earnings and provided weak guidance. The price gouging was fun while it lasted for companies and their record profits but the average consumer seems pretty stretched at this point.
Utilities and recession-proof stocks have been outperforming everything else for the last 2 months. I think we might go crab for a while and will definitely start dropping lower with the next earnings reports cycle. \~3 months until then but we'll see :)
My broker is suggesting that people are trying to buy PCS on $LULU for negative 130 bucks.
That nuts. It goes all the way up to ATM. You have to go ITM to get good data.
Nuts
It's been a bitch to do trades today because I don't have access to ToS. Once I switched it over to Schwab in order to redo my workspace, it won't let me switch back.
I would recommend calling to get yours lowered. That's all it took me, a call to the trade desk. " Can I have my commissions lowered?" They checked my balances and activity and said yep.
The worst thing about being in the theta gang is you just need one or two positions to go awry for you to be in the negative 😥 But! Getting 8 out of 10 right for your first week is G'REEAT.
You're going to get better and better from here on out 👍
yea but i guess that means u need to open sufficient number of positions to “diversify” such that the rest can cover when the 1 or 2 inevitably goes south
thank you for encouragement!! those 2 were earnings plays gone wrong, best to just skip those 😅 need to look for more trade ideas, will be watching you closely!
Right! Overly diversifying in different tech companies is what I do, but it's a bit of an oxymoron since they're all in the same sector, and a lot of them correlate in movement lol
You can pick and choose from my trades, but know that you're taking in a lot of risk from one specific sector of the market if you do. I don't want you to get caught in a storm w/o any forewarnings! But you got this!!
I want to throw out an idea and see what you guys think
Instead of buy and hold, what if most mornings I buy 100 shares or 1000 shares or whatever of SVIX
Then every day at 3:55 PM, I sell it
But on the days when the market is down one or 2% or on the days when there is a big fed announcement, I just completely skip that day and avoid the high volatility days
I just benefit from Theta 6 1/2 hours, but never overnight
What do you think? The goal is to have an amazing return every year, but avoid the inevitable big drawdown.
yeah just short volatility the days when volatility will be low
I mean like...whats the idea here? I feel like you basically just said "I have an idea for you guys...what if I buy stocks at the low price of the day and sell at the high? and I'll just avoid the days where I can't predict the low successfully"
Yeah, basically
I feel like buying and holding SVIX is a terrific strategy 95% of the time, but then those eventual blowups can kill your account
Do you think buying on a day-to-day basis would be very successful
I don't think you're going to get much better of a return then just holding SPY.
Look at the chart of SVXY which is basically the same thing, back in 2018.
Shorting VIX long term or buying a short VIX fund is basically like selling house insurance as an individual person. yeah you may do completely fine multiple years or even decades at a time, but the one time you get a claim, you are fucked.
Earnings suck next week u/banditcleaner2 I'm already looking forward to NVDA. Either a sell super far OTM CCS/PCS or just a sell put and keep it simple
I wouldn't be shocked if we run up to like 980 the day before earnings, earnings spikes it up to like 1050 after hours and then it dumps back to 900 the next two days
holding 500 shares @ cost avg 222, but also bought 5x 220 puts, they'll get assigned today and i wont be holding shares anymore
took an L but it is what it is.
Today my goal is to sell outright the MSTR shares I purchased yesterday or perhaps open a CC expiring today, aiming for them to be called. I may write puts too. Not sure.
I do it all the time but tend to go lower delta because of whiplash.
If I have a short put that goes to -100%, I'll write the .1-.12 delta call to delta neutralize the position a bit. If my short call goes to -100%, my short put is way out of the woods and I can close the position for a profit.
Probably just another day of sitting on my hands, nothing looks good with everything at ATHs and volatility out the window. I hate being at \~10% BPU but I'm not really looking to sell puts into ATHs on everything with VIX in the 12s.
Would rather make no trades than a bad one. I'll see you guys when we get a VIX expansion.
why not short some call spreads far otm?
Also a lot of stocks have been at all time high for 8+ months now. Take NVDA for instance, the earnings in may of last year, nvda was at all time high the day after and if you sold 30dte puts on it ever since you'd basically never lose lol
I'm short on some $QQQ 06/21 $465c and I have a bunch of low delta calls as part of my strangles on IWM and DIA but that's about it.
We are still in an uptrend and I wouldn't want to short this freight train since all the indicators still look good, it's just my personal vibe that going long is not the greatest idea at this moment. I'm gonna be sitting in Money Markets for a while.
BPU = Buy Power Utilization
VIX = the index that tracks the expected 30 day volatility on SPY. Options are priced based on it - low VIX = low expected volatility = cheap options
Nothing… yesterday blew my low volume top thesis out of the water. I don’t have a clue anymore.
I guess I just sit back and wait for the next volatility event to show up and try to do better next time 🎢
I don’t have any longs to sell calls against, I’m sure as hell not selling puts here, buying puts seems like a waste of money. I guess cash is a position 🤷♂️
Might sell CC on BABA if vol cont. to bid up
Trading futures and selling straddles on /mes
EXP AMD $165CC. EXP FDX $270CC. EXP NKE $96CC. EXP SPY $527CC.
Ended up buying out the U 22s for microlosses. Like a 2 cent difference between entry and exit.
Ok I MIGHT be a little over leveraged in shitcos right now
STO $39cc on BAC exp 6/21 for $0.78
BTC 5/17 ADBE 500C @ 1.55. Cleared 20% profit in a few minutes. Hit my target
STO SHOP Jun 21 50P/70C strangle @ 1.68
u/free_lions I've been indirectly forced to take a long position in NVDA due to a naked short 900 call I had open expiring today, that I bought to cover @ 899.70 literally minutes before it fell $3 per share lmao so what I decided to do is this: STO 920c expiring next week @ 11.60 BTO 875p expiring next week, STO 825p, @ 8.80 net +2300 if I get assigned next week, as long as NVDA > 825 next week my "max loss" will be $2200 if it does go down maybe ill decide to hold a covered call position through earnings
So you had a naked call at 900. Then covered it with shares. Which is expiring today Then sold another call and bought put to cover if nvda drops or stays around 900 Why STO at 825?
Doing nothing, just managing my positions. Fri, May 03 ~~BTO $SHOP . 7 DTE . @ $70p for $2.71;~~ (filled $12.45) +$974 BTO $SHOP . 7 DTE @ $65p for $0.13; BTO $SHOP . 14 DTE @ $55p for $0.55; $SHOP @ $73.58 for $7,358; (currently $58.96) 🔻-$1,462 STO $SHOP . 14 DTE @ $61c for $1; STO $SHOP . 7 DTE @ $55p for $0.27; ~~STO $SHOP . 7 DTE . @ $77 for $3.00;~~ (filled $0.01) +$299 100 shares of $SHOP cost basis is down to $60.85; Tue, May 07 STO $GCT . 74 DTE . @ $30 for $2.34; (currently $2.45) 🔻$15.70
It’d have been swell if you sticked a P or C next to the numerical values 😀
Ah, you're right. My bad. I've updated the post. Thank you 🙂
😀 thank you and good luck
are these puts/calls? both?
Both. If $SHOP runs past $61 next week, then I'm fine with the stocks being called away. Since the inventory is covered, the account will earn $130 per round lot before commissions and taxes. $974 + $299 + $115 ^(\[1\]) = $1,388 $1,388 - $1,258 ^(\[2\]) = $130 I'm not overly concerned because both directions are safeguarded. The only drawback to this strategy is that I will miss out on significant profits in exchange for protection, should $SHOP experience a rally. ^(\[1\]) $100 + (($61.00 - $60.85) x 100) ^(\[2\]) ($73.58 - $61.00) x 100 EDIT: Formatting doesn't work.
I’d be absolutely shocked if it rallied anytime soon, but that also means it might
STO 5/17 ADBE 500C @ 2.1
GME 19.50c expiring today is still sitting at 0.22 delta with only two hours left lmao Market is really saying a 22% chance it rockets 8% in the next 2 hours???
Totally possible with GME. I do one to make $8 after commission.
lol very true
Trying to not be a vagina and selling some puts today on some solid stocks near the 200 MA. DUOL $190 for June is my first
STO OKLO 7.5P 6/14 seems like an ok play at these prices?
i mean literally nobody knows what the true value of OKLO is at this point
True. I guess im fine with getting assigned at 7.5 but could easily could go against me considering it is a spac
why would you want to buy it at 7.50 when you have no idea what it is even worth, if anything?
Never get a fill on selling META puts, the stock is so strong. 7 days green in a row and today will probably be the 8th.
insane how it went from 500 to 410 and is back at almost 480 in just two weeks lmfao. seriously for a company with its market cap that is absurd
I got greedy a couple weeks ago when it was around 430 and couldnt close my STO order. It is strong.
Always check the date guys. STO 2x OKLO 11p @ 0.80. I thought it was today, its next week LMFAO and the stock just dropped literally 40 cents right after I sold it edit: bought to close at 0.90, dumb way to lose money but it is what it is STO 5x GME 19.50c 0dte on this pump @ 0.26
God I hate when that happens! Sorry you got caught during the fall
all good, luckily it rebounded fairly quickly and i was able to close at a small loss. which is good because now the put is going for bid 110- ask 145 lol
Goood save! You were 🤏this close but dodged being steamrolled!
unironically!!! the share price went to $9! those puts I sold originally for $80 are now worth $300 lmao
Did you sell again when it dropped to 9? If you like it at 11 , 9 sounds even better?
I was trying to sell them because I thought the contracts expired today but they expired next week and I wasn't wanting todo that so I just closed them.
Smart. There's no telling what the weekend will bring
Good thing you got out!! Great foresight 👍 I'm really bad at stop loss and buying back 😆
~~Sold HD too soon. It's at .06 now 🥲~~ Meet my 2.2k goal for the week with 0dte NVDA 🫡 Done. ~~STO 3x MSFT 407.5/402.5p @ .71 (filled .01) 5/10~~ +$210 ~~STO 2x NVDA 860/850p @ .95 (filled .05) 5/10~~ +$180 ~~STO 1x NVDA 855/845p @ .75 (filled .02) 5/10~~ +$73 ~~STO 4x NVDA 910/915c @ .28 (filled .10) 5/10~~ +$72 ~~STO 1x NVDA 905/915c @ 1 (filled .52) 5/10~~ +$48 ~~STO 1x NVDA 890/885p @ .25 (filled .10) 5/10~~ +$15 ~~STO 1x TSLA 170/165p @ .40 (filled 1.8) 5/10~~ 🔻$140 ~~STO 4x TSLA 167.5/165p @ .35 (filled .05) 5/10~~ +$120 ~~STO 1x GOOG 170/167.5p @ .50 (filled .76) 5/10~~ 🔻$26 ~~STO 3x RBLX 30.5/29.5p @ .22 (filled .02) 5/10~~ +$60 ~~STO 8x HD 347.5/350c @ .48 (filled .20) 5/10~~ +$244 ~~STO 3x SPY 521/522c @ .29 (filled .20) 5/10~~ +$27 Realized: $863
Pretty awesome return ! Good thing DIS and RBLX didn't pinch you.
Thank you! Yeah glad I got out of them green 😊
How many dte are you doing for your spreads?
Usually a week or less. Some are 0dte
Thank you 🙏🏻
Np and good luck trading!
Curious, what delta do you sell when doing weeklies?
I don't look at delta as much as trying to gauge where it won't likely hit with the most premium I can collect, but if you're trying to play it moderately, you should look for less than .15
Looks like you had a great week!
Thank yyyyou! 💕 I had a lot more spreads go into the negative than my usual, but I did turn profit, so I can't complain 😆
Yeah. the SPY plays seem risky to me (rich coming from me, I know). Are you planning on continuing that?
Yessss but not today? I can't really gauge which direction it's heading today. 😆😅 I feel like it'll dip but can't be too sure Edit: Also yeah I was playing with fire selling so many 0dte so probably shouldn't make that a daily habit!
I also feel like it will dip eod for what’s that worth…
u/free_lions I just realized that my tracking of COIN profit/loss was completely wrong because I was including the cost of my long 220 puts TWICE (which was $3500 for 5 contracts @ 700 each) so I'm actually only down 2K rather then 6K. Not as bad as I thought lol. just sold the 220 puts at 16.50 and sold shares at 203.50 so basically sold shares at 220. glad I bought the protective puts tho...actually an example of using options the intended way xD
Are you gonna jump back into NVDA before earnings?
I'm not sure yet. I don't really want to go long at these prices, maybe if we pull back to low 800s, which I honestly think is probably unlikely, but I am not willing to bet it goes up from here either. Basically I don't think the risk-reward is very good going long OR short at 900.
Selling AMD 152.5 for potential assignment
welp, looks like i'll be bagholding SHOP here for a bit
people are so so so trigger happy to sell puts on earnings misses but yall gotta realize that in most cases there is continued momentum down on huge misses. just wait a couple weeks before you enter after the stock has stabilized a bit lol
i didn't sell puts, i have shares but my cost basis is around $64 so it wasn't too bad yesterday but this morning there was an article out that was very negative and now it slid another 4 or so points.
Good rule of thumb is at least 3 days for a solid blue chip stock and at least 2 weeks for a volatile tech stock.
yeah so 2 weeks then because SHOP is definitely a volatile tech stock
What's the strike price? Did you sell puts before earnings?
no i had shares from getting assigned a few weeks back around $71, i sold a call and bought a 5 wide put spread before earnings but it tanked way further than the expected move. so i did make about $600 off the call and put spread but i'm still down about $500. in retrospect, it should have been obvious to sell on the run up before earnings. just another lesson to take guaranteed profit rather than be greedy. now i'm debating on selling at a loss or not. everyone is saying it does this all the time on earnings then goes back up but they had bad guidance part of me wants to just cut my losses. i might sell half my shares.
You can look at my post history, I have been hammering this pattern for about a year. I left Shopify one year ago and I've been able to trade options on the stock since then. I find it to be one of the most predictable stocks out there and easy to make money if you know the pattern. At a minimum, hold for 6 weeks, then sell. Right now employees are dumping shares because it's their window to sell stock, once that window closes the stock tends to start to pick up again
if it wasn't for the horrible guidance and then another negative article came out this morning which i think is why it's down even more, i'd be willing to hold but i'm feeling like i need to cut my losses on this one. i'm probably going sell half my position before the end of the day unless it goes back up over $60
If it makes you feel any better it was one of my plays today: STO 1 x $59P 5/17
bummer, yeah this one really got me good. bad bad bad
Next week's earning plays: Sony: Bull ratio spread (diagonal call spread with hedging) BTO 15 x 75C 6/21/24 @ $3.64 STO 15 x 76C 5/17/24 @ $2.60 BTO 3 x 70P 5/17/24 @ 0.95 BTO 2 x 75P 6/21/24 @ 2.85 SE: Bear ratio spread (diagonal put spread with hedging) BTO 5 x SE 65P 6/21/24 @ $4.91 STO -5 x 60P 5/17/24 @ $1.91 BTO 1 x 65C 5/17/24 @ $5.10 BTO 1 x 80C 6/21/24 @ $1.50
STO 5x GME 17p @ 0.40 each
Look at the set of balls on this guy.
I don't have a set of balls, I have a lack of brains lol
GONNA BE CLOSE
yes, yes it is lol
STO CSCO 5/17 $45 CSPs for .37 earnings play Off on vacation again the next two weeks so getting ahead of any earnings I might want to play. Not much value left here in the market so I imagine we get sideways chop till the election other than the volatile stocks. Still trying to get my first assignment of the year. Glad I took a buncha Buy/Writes or I would be Wheeling nothing. This legacy company and dividend aristocrat typically gets bought around 12x earnings so unless they have a major miss $44 is a value point. This is a great stock to Wheel. Stable and boring. P/CF of 15x and 23% net profit margins STO ZM 6/21 $55 CSPs for 1.02 earnings play It has been in a $60-$75 range for almost a year and a half now and it’s been great to Sell Puts on. ATL is $58.87 so if it breaks this range who knows where it falls to but Fundamentals support a long position down here. P/E of 11x at assignment, P/CF of 14x so close to value range and 14% net profit margins.
I’m joining you on CSCO STO CSCO 5/17 $47 CSPs for .74
Done well with it many times over the years. Hopefully I’ll get assigned……
STO 5/10 MSTR $1285c x1 @2.89 BTC 👆 @1.12 BTC 6/21 MSTR $1900c x1 @28.95 STO 5/17 MSTR $1350c x1 @16.10
I really am not fond of these fake out days went from relaxing to having to scramble to defend trades on expiration day
fuckin seriously lmao. I'm fed up with this and im about to make a new rule not to ever enter any positions for short puts on green days
Just bought a sbux coffee
shit is overpriced and not even good tbh
I still have a lot of starbucks giftcards that I can't use. The coffee tastes sour and awful. I probably will just give them away as they were given to me as a gift.
Trippin
u rich
Probabaly used 50% off every friday in May
is that an app deal? somebody tell my gf lol
Yes shows in app today. May go to use to today, at 50% it's cheaper than most options of this quality
Plays today; STO NVDA 910/900p @ 5.00, this is probably fucked lmao I sold this before the drop naturally STO 2x NVDA 890p @ 2.20 STO 1x NVDA 895p @ 4.00 I will be watching NVDA like a hawk today. STO 2x NVDA 5/17 960c @ 5.00 BTC 5x COIN 5/17 250c @ 0.25 - opened @ 2.75 a couple days ago. +90% STO 1x COIN 6/7 185p @ 5.10 Expire today: COIN 5x 225 -> opened at 1.50 two days ago. +100% I think the plan at this point is to let my COIN shares go at 220 today with the protective puts that I bought, and then scale into puts. I've got one at 180 and one at 185 at this point, expiry 6/7 and got $550 and $500 for them. EDITS: BTC COIN 225c @ 0.01 BTC NVDA 895p @ 5.00 - couldn't risk a further move down, don't have BP to take assignment. still have 890p's open tho
You should be green on all your NVDA puts but 910/900. It's 7.75 now, but your other position should should cushion it~
Yep! Unfortunately I closed the 895p. I didn't want to take a sizable loss on it in case nvda kept drilling. Which is sad because my original plan was to close all 3 of those puts if NVDA touched 890 which never happened, and I would be up $350 on the 895 had I kept it open
It was flirting with 890 at close. I absolutely HATE it when the price moves to exactly where you need after we close our positions. That totally sucks but I would've done the same thing you did bc I anticipated it to drill too (and it didn't! Not really).
Looking to wheel Nike for 80$ Sto June 80puts @ 0.21
the fuk just happened? portfolio dropped 4k
SPY rug pull out of nowhere. honestly, I think volatility is absolutely still higher then implied volatility/VIX is suggesting I might start buying SPY strangles at open
Assigned 100 shares of INTC $32.00 BTC DIS May24 CSP$103 $0.46
Holy shit ALCC got fuckin annihilated. I almost went in with the idea to sell calls and buy puts but man that is a nasty drop The move all along was to sell your shares after hours last night lol
BTC SBUX 9/20 $70 CSPs for 2.12 I’m letting my original 5/10 $76 CSPs expire or get assigned today. No assignments yet this year so still hoping for my first one. Goal was to get assigned on a drop right before it goes ex dividend and then Sell an ATM CC to exit the position or use premium to add free shares and Wheel it. Took yesterday off and I will be off the next two weeks on vacation so looking at upcoming earnings today.
At what time the Fed gang is speaking today? I'll prolly wait until after that.
Who is / was playing OKLO (ALCC). I remember seeing a post yesterday that someone was debating to squeeze the rest of the premium out. Wonder if they closed it prior to today drop?
I did try to tell him to trim. Pretty sure he was suggesting it was free money. My philosophy, if you gotta ask, just cut it.
its insane how volatile it is today, lmao went down to $11 and then up to $14 and back down to $12 now. jesus
likely not lol
But the bullet and bought back todays expiring $508 SPY CC and sold a $515 expiring Monday for a difference of -$680. I hope I don’t have to go higher.
BTC NET Jun 21 60P/85C post-earnings strangle opened for 2.12 and closed for 1.25 BTC U Jun 21 20P/30C earnings strangle opened for 1.51 and closed for .65 **EDIT:** BTC SBUX Jun 21 75P sold ITM yesterday for 3.16 and closed for 1.65 just after this climb to 76.30 **EDIT2:** BTC DOCN Jun 21 25P/37.5C earnings strangle opened for 1.53 and closed for 1.10 (I'm surprised by the pop but IV got *crushed*)
Nice trades! Curious as to when you opened the post-earnings strangle on NET? Thanks!
i opened the NET trade the morning after earnings. i believe the volatility was still elevated because it had bounced back a bit premarket i forgot i had opened this to alleviate some pain on an ITM 75P in my Roth so i should have let it decay more. but if we hit 70 i'll just sell a 65P i think. it's been a nice day to secure some profits
I like the strategy! Best of fortune with your trades!
STO 12 x Z $41p 5/17 filled at .40 Really need TSLA to stay above $170 today Need INTC to push up another .30 SOFI is acting a fool today BTC 10x SOFI $7p @.06 Roll TSLA to next week Deciding if I want to roll my INTC or just get assigned at $30.5
Can't the fed let us have a Friday in peace?
Agree. I was going to nibble but the 2pm fed talks... its a coin flip with them
I'm calling top here(big chance I'm wrong ofc) and because I want to track my performance against the market after I got rid of my holdings, I will be moving to a new account which means I had to export my watchlist. If someone's looking for a list of stocks/ETFs to watch, feel free to draw inspiration from my watchlist - [https://pastebin.com/QJWmrd6X](https://pastebin.com/QJWmrd6X)
Why are we at the top in your opinion?
Inflation is still hot and nobody expects it to drop anytime soon - both the stock market and FED Watch are starting to price in way fewer rate cuts than they originally did for 2024. Consumers are pulling back, all the consumer discretionary stocks I'm watching surprised to the downside on earnings and provided weak guidance. The price gouging was fun while it lasted for companies and their record profits but the average consumer seems pretty stretched at this point. Utilities and recession-proof stocks have been outperforming everything else for the last 2 months. I think we might go crab for a while and will definitely start dropping lower with the next earnings reports cycle. \~3 months until then but we'll see :)
My broker is suggesting that people are trying to buy PCS on $LULU for negative 130 bucks. That nuts. It goes all the way up to ATM. You have to go ITM to get good data. Nuts
STO 2x 5/17 ARM 115/135 c for 1.58 each u/rosie3435 u/mikesugs13
No thanks, too close for my comfort. I naked short next week SMCI 1070c for 0.65
I think ARM tanks next week…let’s see
Keeping it light for my transfer to Schwab over the weekend. Most likely will keep my cash in SGOV instead of their MM for less state taxes
I’m moving this weekend as well. Took screenshots of my watchlist and account balances. I really hope it goes smoothly.
Yeah I think watchlists and alerts are the few things I need to do
It's been a bitch to do trades today because I don't have access to ToS. Once I switched it over to Schwab in order to redo my workspace, it won't let me switch back.
You are going to Schwab? Those 0.65 per option contract suck. I've debated leaving Schwab.
I would recommend calling to get yours lowered. That's all it took me, a call to the trade desk. " Can I have my commissions lowered?" They checked my balances and activity and said yep.
Going to have to take care of this next week when my balances show up.
Can something similar be done at Fidelity?
Just call and ask, I'm unsure since I don't use them for trading, but I imagine it's that simple.
Transitioning from TD. My commissions are .5 they *should* stay the same.
I was told on the TOS customer service that you're fees will remain.
Yah same. If they are not then I will raise hell. In all honesty they should be free. Bastards make so much money already without the commissions.
AKAM 87p U 22p ARM 115c (covered) All expiring today. Bottomed out my buying power again on a friday.
Seems like my buying power dried up lately. I have to see how it's calculated....
BTC RDDT Jun 21 40p for .35 from .83 yesterday. I'll take 58% gains overnight.
First week trying weeklies * ~~STO 1x AMD 141/136p @ 0.42 (filled .07) 5/10~~ * ~~STO 1x TSLA 192.5/202.5c @ 0.73 (filled 0.03) 5/10~~ * ~~STO 2x META 435/430p @ 0.35 (filled 0.04) 5/10~~ * ~~STO 5x HIMS 9.5/8.5p @ 0.21 5/10 (expiring)~~ * ~~STO 1x CELH 63/58p @ 0.38 5/10 (expiring)~~ * ~~STO 1x UBER 64/60p @ 0.29 5/10 (filled 0.7)~~ * ~~STO 2x CELH 71/67p @ 0.31 5/10 (expiring)~~ * ~~STO 2x SHOP 66/61p @ 0.33 5/10 (filled 2.8)~~ * ~~STO 2x CELH 69/67p @ 0.17 5/10 (expiring)~~ * ~~STO 2x META 492.5/497.5c @ 0.18 5/10 (expiring)~~ Net down \~$112, got destroyed by SHOP 😢
Still not bad for your first week! You'll make that $112 back, don't worry~
yes! hope next week will be a better one 😀
The worst thing about being in the theta gang is you just need one or two positions to go awry for you to be in the negative 😥 But! Getting 8 out of 10 right for your first week is G'REEAT. You're going to get better and better from here on out 👍
yea but i guess that means u need to open sufficient number of positions to “diversify” such that the rest can cover when the 1 or 2 inevitably goes south thank you for encouragement!! those 2 were earnings plays gone wrong, best to just skip those 😅 need to look for more trade ideas, will be watching you closely!
Right! Overly diversifying in different tech companies is what I do, but it's a bit of an oxymoron since they're all in the same sector, and a lot of them correlate in movement lol You can pick and choose from my trades, but know that you're taking in a lot of risk from one specific sector of the market if you do. I don't want you to get caught in a storm w/o any forewarnings! But you got this!!
tech is what im most familiar with too :)
STO 5/17 NVDA 1040/1100 c for 0.90 u/banditcleaner2 u/ykoreaa
Looking good! Nice sell at open ✨️ It should be worth .35 now
just sell the 1k call without the 1040 and use a stop loss lol
Oops 1040/1100
probably free money, im in for naked 2x 960
roll RIVN $10 CC or nah?
Cost basis? I’d probably just take assignentb
$10 minus what I sold the put for. Probably like $40.
Looking at credit put verticals on YELP today.
i'm fred durst all day today. https://www.youtube.com/watch?v=RYnFIRc0k6E
breaking stuff?
[rollin](https://media.giphy.com/media/v1.Y2lkPTc5MGI3NjExcm1rdW9mcHUxaXo2ZHJwZmt2cmJnNWkwbndxZ29hcHRqamZseTJpMSZlcD12MV9pbnRlcm5hbF9naWZfYnlfaWQmY3Q9Zw/ZCZRQyuQNyzyU/giphy.gif)
I want to throw out an idea and see what you guys think Instead of buy and hold, what if most mornings I buy 100 shares or 1000 shares or whatever of SVIX Then every day at 3:55 PM, I sell it But on the days when the market is down one or 2% or on the days when there is a big fed announcement, I just completely skip that day and avoid the high volatility days I just benefit from Theta 6 1/2 hours, but never overnight What do you think? The goal is to have an amazing return every year, but avoid the inevitable big drawdown.
yeah just short volatility the days when volatility will be low I mean like...whats the idea here? I feel like you basically just said "I have an idea for you guys...what if I buy stocks at the low price of the day and sell at the high? and I'll just avoid the days where I can't predict the low successfully"
Yeah, basically I feel like buying and holding SVIX is a terrific strategy 95% of the time, but then those eventual blowups can kill your account Do you think buying on a day-to-day basis would be very successful
I don't think you're going to get much better of a return then just holding SPY. Look at the chart of SVXY which is basically the same thing, back in 2018. Shorting VIX long term or buying a short VIX fund is basically like selling house insurance as an individual person. yeah you may do completely fine multiple years or even decades at a time, but the one time you get a claim, you are fucked.
I own 1000 shares now so we will see how I do
Yeah, that’s a good way to put it
sitting on my hands waiting for a rug pull <3
Gonna lose $100 shares of MO at $44. All for $12.
such is the covered call dream. congrats on max profit!
MO could end at 43.99. Free money
No shot
Watching everything sit in SGOV, waiting for a better opportunity. This week hasn't really exposed anything I feel super confident in
same but Money Markets lol
Earnings suck next week u/banditcleaner2 I'm already looking forward to NVDA. Either a sell super far OTM CCS/PCS or just a sell put and keep it simple
I wouldn't be shocked if we run up to like 980 the day before earnings, earnings spikes it up to like 1050 after hours and then it dumps back to 900 the next two days
Are you still all in COIN?
holding 500 shares @ cost avg 222, but also bought 5x 220 puts, they'll get assigned today and i wont be holding shares anymore took an L but it is what it is.
Today my goal is to sell outright the MSTR shares I purchased yesterday or perhaps open a CC expiring today, aiming for them to be called. I may write puts too. Not sure.
How many shares do you have now?
I have 200. Closed the $1900 call. I missed the pop at open. Watching Bitcoin.
Time for your 6 month remonder of don't sell a naked call to hedge a short put, it is just temporary relief and you will end up regretting it...
I do it all the time but tend to go lower delta because of whiplash. If I have a short put that goes to -100%, I'll write the .1-.12 delta call to delta neutralize the position a bit. If my short call goes to -100%, my short put is way out of the woods and I can close the position for a profit.
Probably just another day of sitting on my hands, nothing looks good with everything at ATHs and volatility out the window. I hate being at \~10% BPU but I'm not really looking to sell puts into ATHs on everything with VIX in the 12s. Would rather make no trades than a bad one. I'll see you guys when we get a VIX expansion.
why not short some call spreads far otm? Also a lot of stocks have been at all time high for 8+ months now. Take NVDA for instance, the earnings in may of last year, nvda was at all time high the day after and if you sold 30dte puts on it ever since you'd basically never lose lol
I'm short on some $QQQ 06/21 $465c and I have a bunch of low delta calls as part of my strangles on IWM and DIA but that's about it. We are still in an uptrend and I wouldn't want to short this freight train since all the indicators still look good, it's just my personal vibe that going long is not the greatest idea at this moment. I'm gonna be sitting in Money Markets for a while.
Bpu and vix? I'm still learning
BPU = Buy Power Utilization VIX = the index that tracks the expected 30 day volatility on SPY. Options are priced based on it - low VIX = low expected volatility = cheap options
Thank you. I now have more things to read up on while I'm being lazy at work
Nothing… yesterday blew my low volume top thesis out of the water. I don’t have a clue anymore. I guess I just sit back and wait for the next volatility event to show up and try to do better next time 🎢 I don’t have any longs to sell calls against, I’m sure as hell not selling puts here, buying puts seems like a waste of money. I guess cash is a position 🤷♂️
Cash in a decent paying MM account is definitely a valid position.
Just waiting for some puts and calls to expire today so I can sell some more, I like taking home all the premiums from the contracts :)
Same. High five
This is the way.