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

[mulletwarrior]

100 contracts?

ya boi

[usersignup2]

Bought PTON 90P near the open. Closed for nearly 3X for 1600 gain. Could still run to test yesterdays low but tired of watching.

[chino3]

Closed out my TSLA leaps. Need money for house down payment, and I'm tired of volatility. Now, I will just have a strangle for the december expiration, and 100 shares in my IRA that I will wheel. Depressing af considering how much money TSLA made me last year in realized gains, and now I'm walking away with just 20k profit for 2021 in TSLA realized.

I am super red on my RKT leaps, so I will just grind out super aggressive weekly CC's until recovery or expiration, whichever comes first lol

[usersignup2]

The $31 call was .03 and I only bought 100 Ks, so pretty cheap YOLO. I think the $19 put is realistic.

Have you looked into credit spreads?

Buy the 24 calls, sell the 24.50 calls for $3 per contract. Max upside $47 per contract. IMO still slim chance of profit but way better than 31C.

[RobParks2M]

The $31 call was .03 and I only bought 100 Ks, so pretty cheap YOLO. I think the $19 put is realistic.

Set a 0.1 sell price on 1/3 of your contracts if you just want a chance to triple your $$$ and I bet at some point they'll hit. Then you are just playing with house money on the other 2/3 if for some reason they really start to spike.

[Heaney]

Ahhh I remember awhile back I heard Heaney mention something about portfolio margin as well but that was when I just started getting into investing so I didn't really know much. Btw, how much do you have to pay for each contract? I asked them to lower it and they're gonna get back to me with a cheaper fee.

My friend that got into MVIS and OCGN when they were in the dollar range just found his next big stock. $MARK. Gotta do some DD on it to see if I wanna yolo a 1 year+ hold. Just thought I'd mention it if someone wanted a yolo long term play lol

Think that was either Rob or Harry, I don't have margin.

[chino3]

Think that was either Rob or Harry, I don't have margin.

I think I’m the only one on the misc with portfolio margin. Could be wrong though. Harry got turned down lol

[RoyalRyy]

Think that was either Rob or Harry, I don't have margin.

I think I’m the only one on the misc with portfolio margin. Could be wrong though. Harry got turned down lol

Hm maybe it was Chino then, idk. I remember seeing somebody from the SPAC thread talking bout it months ago lol.

I think I'm about to get r@ped next week with my options. I bought some spy puts before that job report came out and next thing ya know it's breaking ATH's. Fukin clown market. I have a CRM 232.5 may 21 call as well that is getting absolutely slaughtered. I hope things work out next week or I take a nice loss. Note to self: buy more long dated options..

[mulletwarrior]

Set a 0.1 sell price on 1/3 of your contracts if you just want a chance to triple your $$$ and I bet at some point they'll hit. Then you are just playing with house money on the other 2/3 if for some reason they really start to spike.

Thanks, brah. New to options trading so this is helpful. Think I will need to start playing with sell/limit orders.

[chino3]

I'm down so fukking much, it isn't even worth it to post loss porn lol. RKT fukked me hard, just like last year. But gonna hold these LEAPs until expiration or 100% recovery (1/2023 expiration). Going to keep writing weeklies but more aggressively. Worst case scenario I have to roll out and miss a weeks worth of opportunity, best case, I keep raking in the premium. To make things extra potato, I am increasing my CC's by 50% through naked options. If that doesn't trigger the rebound gods, I don't know what will.

[RobParks2M]

I'm down so fukking much, it isn't even worth it to post loss porn lol. RKT fukked me hard, just like last year. But gonna hold these LEAPs until expiration or 100% recovery (1/2023 expiration). Going to keep writing weeklies but more aggressively. Worst case scenario I have to roll out and miss a weeks worth of opportunity, best case, I keep raking in the premium. To make things extra potato, I am increasing my CC's by 50% through naked options. If that doesn't trigger the rebound gods, I don't know what will.

Hear me out. Could you buy somewhat deep OTM calls then just write lower strike calls and likely still cash in? Realistically if RKT was gonna move it would move up HUGE and your OTMs print harder than your call losses right?

[chino3]

Hear me out. Could you buy somewhat deep OTM calls then just write lower strike calls and likely still cash in? Realistically if RKT was gonna move it would move up HUGE and your OTMs print harder than your call losses right?

Absolutely, and I might just do that. Not entirely sure if/where I want to commit more capital right now. Should be closing on the new house by month's end, so trying to make sure I am plenty liquid for the down payment and also my tax bill.

[mulletwarrior]

bought a few ARKK puts. Lol, ARKK ppl betting against ARKK like crazy at the moment.

[RoyalRyy]

bought a few ARKK puts. Lol, ARKK ppl betting against ARKK like crazy at the moment.

Yeah ARKK is getting attacked right now lol.


This spy dump came in clutch for my puts. Ty algos

EDIT: Bought more GS calls. 400 7/16 No doubt in my mind these will print as well

[usersignup2]

Watching TSLA on 1 minute chart is like watching The Little Train That Could

[usersignup2]

Welp, gotta make some money even in a sideways trend. TSLA moving in the wrong direction. Still looking for a bounce.

STO
CL Jan22 87.50C
TSLA May07 705C x2
TSLA May07 710C x2
TSLA May07 630P
PLTR closed my May07 @.03 and opened Jun04 25C x10

Looking to net 3400 for these plays.

still short AAPL, BAM.A and TWTR calls

All May07 expirations expired worthless. Add in my PTON puts, net 3700 for the week.

STO
TSLA May14 605P
TSLA May14 680C x2
TSLA May14 675C x2

Looking to net just over 2K with these plays.

Took a shot at AMC 9.50P weeklies but closed out for 250 loss.

[Glutamine2]

All May07 expirations expired worthless. Add in my PTON puts, net 3700 for the week.

STO
TSLA May14 605P
TSLA May14 680C x2
TSLA May14 675C x2

Looking to net just over 2K with these plays.

Took a shot at AMC 9.50P weeklies but closed out for 250 loss.

Sorry man. Feel that pain with ****ing TSLA. Paid $35 for $715c 5/21 and they’re now worth $3. Very much hoping we’ll make it.

[mulletwarrior]

Damn options trading is stressful lol. My PLTR $19 5/14 puts were up over 100% yesterday. Now I am down like 44%. Should have sold before earnings. At least I am long PLTR as well.

[RobParks2M]

Sorry man. Feel that pain with ****ing TSLA. Paid $35 for $715c 5/21 and they’re now worth $3. Very much hoping we’ll make it.

lmfao. he is taking the opposite side of your trades and taking your money

[RoyalRyy]

Damn options trading is stressful lol. My PLTR $19 5/14 puts were up over 100% yesterday. Now I am down like 44%. Should have sold before earnings. At least I am long PLTR as well.

Got greedy huh?

[mulletwarrior]

Got greedy huh?

Yeah - or cocky. Was sure PLTR earnings were going to be chit.

[usersignup2]

Sorry man. Feel that pain with ****ing TSLA. Paid $35 for $715c 5/21 and they’re now worth $3. Very much hoping we’ll make it.

lmfao. he is taking the opposite side of your trades and taking your money

What Rob said. Sold all those, did not buy. Collecting premium.

[mulletwarrior]

Puts doing nice today.

Picked up some calls in broad index funds on expectation of bounce or some fed announcement that will shoot things up again. Also picked up some calls on commodity ETFs because YOLO.

[RoyalRyy]

Nibbled on more GS calls, TSLA call and MARA calls. Really wanted more AMD leaps but I'm broke rn.

[chino3]

Not opening my portfolio until NEXT Thursday. No cash (reserved for house down payment), so it only hurts to see things I want to buy at these levels, and don't want to risk further exposure with any CSP's.

5/21 I have a chit ton of options expiring

ARK F/G/K/Q/W cc's
PLTR csp's
RKT cc's

Even though if my ark calls get exercised I will be selling at a loss, I will be fine to walk away and free up $50k, and not see all that red. Not even like the premiums are good enough to make me interested in selling calls.

PLTR will most likely need to get rolled
RKT cc's I would like to HAVE to roll out, but not sure if 8 days is enough to get to $19 barring any substantial news or wsb squeeze efforts.

[usersignup2]

All May07 expirations expired worthless. Add in my PTON puts, net 3700 for the week.

STO
TSLA May14 605P
TSLA May14 680C x2
TSLA May14 675C x2

Looking to net just over 2K with these plays.

Took a shot at AMC 9.50P weeklies but closed out for 250 loss.

BTC 605P for a big loss
BTO 610P to hedge my long position

[mulletwarrior]

As someone relatively new to options trading, is the strategy during volatility (like right now) to buy a diverse set of puts and calls with a somewhat far off exp date and just unload them on green days?

[usersignup2]

As someone relatively new to options trading, is the strategy during volatility (like right now) to buy a diverse set of puts and calls with a somewhat far off exp date and just unload them on green days?

Not a strategy I would employ. Risk is volatility decreases and your option value diminishes dramatically. Even if your price increases it could still drop in price.

[usersignup2]

BTC 605P for a big loss
BTO 610P to hedge my long position

Net gain for the week, albeit only a few hundred. Win is a win. 610P got me in the + zone so very fortunate. Was up 100% at one point with the 610P but really was only using it as a hedge.

[chino3]

I lied, I closed out my RKT cc’s. I have a feeling something big could happen between Monday and 5/25 when they have their investors meeting. If not, I wasted time and premiums but would rather that than a massive run up or squeeze that results in a margin call lol. I sold super aggressive calls at $.26 and closed out .08. But I increased the call quantity by 50% through naked calls. Too Spicey to do until I feel more confident in how it will move. Still happy with making $4.4K on the trade but left nearly $3k on the table.

Let’s see what happens but I just have a feeling...