*Official* Options trading thread: Why Alpha/Beta when you can Theta?

[kusok]

been selling fewer weekly calls and more long dated, taking profits at 50% instead of waiting for expiration. Strategy is to sell roughly 35DTE at 35-40D and take profits at 50%. Also trying to refrain from selling calls during what I see as a strong uptrend. Overall goal is to reduce the amount of daily upkeep, maintenance on contracts, and thereby minimizing daily stress. Upside is this captures higher total premium while market is in a bit of a sideways trend and lower IV.

today STO:

MSFT Jun21 435cc x7
MSTR May17 1040csp
TSLA Jun14 185cc x7
PANW May17 312.50 x2
RDDT May17 60cc x2

that’s an interesting choice for the Tesla call, one tweet from Elon, and you are going to be called out lol, let’s see what happens

[usersignup2]

that’s an interesting choice for the Tesla call, one tweet from Elon, and you are going to be called out lol, let’s see what happens

I anticipate those calls will be ITM at some point before expiration. For how long and whether I'm still holding at that time will be another story.

[usersignup2]

been selling fewer weekly calls and more long dated, taking profits at 50% instead of waiting for expiration. Strategy is to sell roughly 35DTE at 35-40D and take profits at 50%. Also trying to refrain from selling calls during what I see as a strong uptrend. Overall goal is to reduce the amount of daily upkeep, maintenance on contracts, and thereby minimizing daily stress. Upside is this captures higher total premium while market is in a bit of a sideways trend and lower IV.

today STO:

MSFT Jun21 435cc x7
MSTR May17 1040csp
TSLA Jun14 185cc x7
PANW May17 312.50 x2
RDDT May17 60cc x2

BTC MSTR May17 1040csp for 95% profit
Rolled up and out PANW May17 312.50 x2 to May24 360C x4
Rolled up and out RDDT May17 60cc x2 to May24 63C x2

closed some additional small positions for profit roughly 1300 net for the week

[jafomofo]

i belatedly found out that i have been doing what people call 'the wheel' so my wheel account is doing well. etrade is not good for showing P/L on individual trades and curiously schwab doesn't actually record premiums for sold options at a gain/loss, it just increments your cash position which is annoying. entered swings on shop and snap, leaps on nio and sofi. And now for the degen part, i have become enamored of doing 0days on fridays.

[RobParks2M]

i belatedly found out that i have been doing what people call 'the wheel' so my wheel account is doing well. etrade is not good for showing P/L on individual trades and curiously schwab doesn't actually record premiums for sold options at a gain/loss, it just increments your cash position which is annoying. entered swings on shop and snap, leaps on nio and sofi. And now for the degen part, i have become enamored of doing 0days on fridays.

Lol you doing SPY or random stock 0dte on Friday's? I've wanted to do this, but seems like degen gambling where you have to hope the market swings as you intend otherwise you gotta sit at home and sweat all day hoping it does what you wanted. I usually just sell CCs and some CSPs on things I'm not scared to buy, but I usually buy calls/puts with at least a few weeks if not a few months to go the direction I anticipated.

[usersignup2]

MSFT Jun21 435cc x7
MSTR May17 1040csp
TSLA Jun14 185cc x7
PANW May17 312.50 x2
RDDT May17 60cc x2

BTC MSTR May17 1040csp for 95% profit
Rolled up and out PANW May17 312.50 x2 to May24 360C x4
Rolled up and out RDDT May17 60cc x2 to May24 63C x2

closed some additional small positions for profit roughly 1300 net for the week

PANW and RDDT contracts expired worthless
Still holding MSFT and TSLA contracts

at least for the moment, my port is transitioning into relatively safe, lower volatility growth. Still retaining this strategy:
"been selling fewer weekly calls and more long dated, taking profits at 50% instead of waiting for expiration. Strategy is to sell roughly 35DTE at 35-40D and take profits at 50%. Also trying to refrain from selling calls during what I see as a strong uptrend. Overall goal is to reduce the amount of daily upkeep, maintenance on contracts, and thereby minimizing daily stress. Upside is this captures higher total premium while market is in a bit of a sideways trend and lower IV."

[RobParks2M]

PANW and RDDT contracts expired worthless
Still holding MSFT and TSLA contracts

at least for the moment, my port is transitioning into relatively safe, lower volatility growth. Still retaining this strategy:
"been selling fewer weekly calls and more long dated, taking profits at 50% instead of waiting for expiration. Strategy is to sell roughly 35DTE at 35-40D and take profits at 50%. Also trying to refrain from selling calls during what I see as a strong uptrend. Overall goal is to reduce the amount of daily upkeep, maintenance on contracts, and thereby minimizing daily stress. Upside is this captures higher total premium while market is in a bit of a sideways trend and lower IV."

^My strategy is very similar, but I try to get closer to 65-70% before closing and I usually go 60-90 days out. Also, I leave the order out there to close because there can be some pretty wild swings intraday and I don't have the desire to check frequently. Sometimes I go into my portfolio to check other things and go "oh wtf when did that close" and then either it moves to the point I reopen or I just sell the monthly again 2-3 months out.