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

[Travis99]

Problem right now is platforms like robbincrook is they are restricting CCIV. I feel like any news will be delayed until this chit is figured out. But agreed it will blast off.

So I have tsla csps for this Friday. Almost guaranteed to get assigned. Strike is $850. I have CC already setup for the same day at $900. Gonna see if I can write more for each Friday in February at $900. Little risky but if I get assigned I’ll have 400 shares. I’ll just set up 2 at a time so if it gets away from me I can create a strangle for the furthest one out with a CSP.

Stay tuned lol

Massive call volume for TSLA at $970 according to barchart. Who knows what’s gonna happen I guess we’ll see.


Edit: chit maybe not as much as I thought. But at least some.

how much game stonk should i buy?

All of it

[chino3]

CCIV isn't restricted anymore, they changed the list today and excluded all of the SPACs that had previously been restricted.

’

Well chit, game on! Fingers crossed for an announcement. I have a 35/40 call spread, but if CCIV stays down, I was considering closing the CC portion, as it’s currently up 15%. ButWe should see theta decay begin to kick in this week, so if it trades sides or even just slightly increases, I might not be able to get in at a better value... hmmm.

[RobParks2M]

CCIV going to get FOMO piled into Monday by robinhood traders scared they'll be limited again. I might buy premarket to sell

[Heaney]

CCIV going to get FOMO piled into Monday by robinhood traders scared they'll be limited again. I might buy premarket to sell

Yeah I might sell at open since if there isn't an announcement then it won't likely happen until atleast Tuesday.

[Heaney]

’

Well chit, game on! Fingers crossed for an announcement. I have a 35/40 call spread, but if CCIV stays down, I was considering closing the CC portion, as it’s currently up 15%. ButWe should see theta decay begin to kick in this week, so if it trades sides or even just slightly increases, I might not be able to get in at a better value... hmmm.

If they announce I might start selling CCs after the initial run up, nothing crazy maybe 3 or 4 contracts to take advantage of the likely sky high IV. Even if they got called away I'd still have over 6K shares.

[Travis99]

Futures now green.

[TugOfPeace]

Futures now green.

Fuark. Every night I sleep excited to wake up premarket and see what's going on with the market and to trade all day. If only I was this excited about my day job :/ Caveat is, I probably wouldn't be this excited in a bear market..

[Travis99]

Fuark. Every night I sleep excited to wake up premarket and see what's going on with the market and to trade all day. If only I was this excited about my day job :/ Caveat is, I probably wouldn't be this excited in a bear market..

Lmao, I work for the government and literally spend 95% of my day looking at the market. The sad part is, if I couldn’t look at it all day I would have made far more money because I wouldn’t have panic sold anything and just held my positions.

I also don’t think it helped that the very first trade I ever made was buying 100 shares of kodk for $19 the selling them for almost $40 a few hours later. That chit ruined me.

[TugOfPeace]

Lmao, I work for the government and literally spend 95% of my day looking at the market. The sad part is, if I couldn’t look at it all day I would have made far more money because I wouldn’t have panic sold anything and just held my positions.

I also don’t think it helped that the very first trade I ever made was buying 100 shares of kodk for $19 the selling them for almost $40 a few hours later. That chit ruined me.

My first trade was when HTZ was going from $3 to $6. Lmao. Made $600 and felt like a genius

[SolidPaul]

Futures now green.

Expected tomorrow to be a bounce, I mentioned this earlier. I think this GME stuff isn't over yet. Could be a good day to buy puts to hedge. Probably going to GTFO of my options and buy back in later.

[roughinhouse]

call options on amd and apple look real tempting. Im guessing that when this whole gme fiasco ends, these guy will shoot right back up even higher then before. Might also buy some on amazon if their stock goes down after their report.

[Camecha]

Set a limit order to sell puts on GME jan 22 $1 strike at a price of .25

Current price is hovering at .18, I think once GME takes a dive my order will get filled

[TugOfPeace]

awfuk man you couldda got in very cheap today. Buy calls @21.5 then an hour later sell your 40C at 23.5


Careful Monday though- can be a bleeding day where it just drops all dam day.


@tug your SPAC buys are pretty dam solid IMO. If I had to pick for you I'd only maybe consider selling BFT if it goes $17+ again. I've got CSP on BFT, AXPT, IPOE, and CCIV.

FTOC won't go much lower. Even if rumors fall through it'll only drop to $11 srs. CCIV just has so much potential why sell---if nervous on CCIV sell calls @$30 so you still see 50% gains if it announces.

Rob, why were you suggesting selling BFT? I'm just about to break even now, debating it. Same with FTOC

[usersignup2]

STO
TSLA - Feb05 900C x2
PLTR - Feb05 31P x5
PLTR - Feb05 39C x5
TWTR - Feb05 53.50C
AAPL - Feb19 145C

Friday BTC my PLTR Jan29 36C and TWTR Jan29 46.50C. Rest of short options expired worthless. Ended that week with just under 4K net.

IV down, this weeks premium should net me about 3K if they all expire worthless.

[NoScrubz]

Did the call spread on CCIV today finally. Bought 3/19 30c and sold 3/19 35c. Not as much upside as the 35c/40c but felt like it's a bit safer. Let's gooo

[Camecha]

Fuark. Every night I sleep excited to wake up premarket and see what's going on with the market and to trade all day. If only I was this excited about my day job :/ Caveat is, I probably wouldn't be this excited in a bear market..

Same lol I haven't finished school and started my career yet so I'm working a pleb job and I made like 6 months salary this past week. Its fun because its easy money but that has more to do with the market than my investing "skills"

[Carbonfibre]

Got those apple calls early this morning.

50 @ $1.01 2/26 150$C



AMD kinda leaps 4/16 $100C still at $4.1 Was down early in morning bit when AMD was $85.



I held off on SPY puts because of the bounce this morning. Need to wait bit more maybe tmmrw with Amazon, Google earnings.

[mikebadg3]

50x 6/21 SNDL $1 calls @ .72

I want to buy more

[MediocreGains]

Got those apple calls early this morning.

50 @ $1.01 2/26 150$C



AMD kinda leaps 4/16 $100C still at $4.1 Was down early in morning bit when AMD was $85.



I held off on SPY puts because of the bounce this morning. Need to wait bit more maybe tmmrw with Amazon, Google earnings.

AMD is still being a bit of a *******. I got in on 90c weeklies and 2/26 94c this morning. Had to average down on the 90c, and I closed them all today for a small profit. Didn't want to hold them overnight. Only have the 2/26 94c for now.

But at least it gave me the opportunity to add more shares.

[Carbonfibre]

AMD is still being a bit of a *******. I got in on 90c weeklies and 2/26 94c this morning. Had to average down on the 90c, and I closed them all today for a small profit. Didn't want to hold them overnight. Only have the 2/26 94c for now.

But at least it gave me the opportunity to add more shares.

I think AMD will retest again $100.

AMD has tested $100 and rejected it 3 times down to ~$90 range over the past 2 months now. This last reject down to $85 I blame on GME and meme stock mania.

[SolidPaul]

I think AMD will retest again $100.

AMD has tested $100 and rejected it 3 times down to ~$90 range over the past 2 months now. This last reject down to $85 I blame on GME and meme stock mania.

Meme mania is probably gone for the time, massive IV crush on all options for those tickers today. There's going to be some bagholders soon, you can't beat the big bois at their game when they have every tool at their disposal. I didn't make any new moves today...all my options bled out a few cents or stayed flat. Saw some activity on PLTR calls but IV was kind of high.

[greenleaf]

Any brah into selling weekly CC and covered put for weekly income? How do you pick the "right" strike to sell? Am I doing it right by keeping delta under .1 to minimize assignment risk?

[MediocreGains]

ahhhhh my amd leaps are getting destroyed... sue bae don't do me dirty like dis.. not like dis matrix.gif

Su Bae blue balling us.

NQ up 1.2% but AMD is down .50%.

[Carbonfibre]

Su Bae blue balling us.

NQ up 1.2% but AMD is down .50%.

she really is lol.

its stuck right now.



...............


bad idea to buy some GME puts here? lol

seeing option flow of GME puts coming in now.

[chino3]

My TSLA strangle lookin pretty hnnngggg

TSLA
2/5
$850csp @ $45.592 x2
$900cc @ $7.593 x2

Spoiler!

Friday it was looking like I was getting assigned, and I almost set up aggressive CC's each week, in advance. Glad I didn't overreact and just chilled. It's only Tuesday, so who know what will happen. If I can close out at $8k prior to expiration, I will do it immediately.

EDIT: Update: Closing out the CSP leg with a $7.2k profit. Going to monitor the CC closely this week. Worst case scenario, I double down and buy shares on Friday to cover the calls.

[Tinge52]

Will be reading thread throughout the day today in hopes of learning some things.. funding account this weekend finally!

[chino3]

Let this be a warning to all of you when it comes to taxes... Just got my preliminary numbers from my accountant... I'm looking at $30k. Not coming TO me, but giving to the I-R-FUKKING-S. I'm shook.

[thatsnarf]

Let this be a warning to all of you when it comes to taxes... Just got my preliminary numbers from my accountant... I'm looking at $30k. Not coming TO me, but giving to the I-R-FUKKING-S. I'm shook.

thanks for the partial stimmy check. please continue to work hard and share the wealth.

[RobParks2M]

Let this be a warning to all of you when it comes to taxes... Just got my preliminary numbers from my accountant... I'm looking at $30k. Not coming TO me, but giving to the I-R-FUKKING-S. I'm shook.

Why so high? Yuge capital gains?

[chino3]

thanks for the partial stimmy check. please continue to work hard and share the wealth.

I lol'd and then angry'd

Why so high? Yuge capital gains?

$95k realized gains, and that was after tax loss harvesting with RKT in true Guh amounts...