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

[NoScrubz]

It's a nice position. I've got 3/19 CCIV 35c/40c x5 @$.7 I was concerned about how long it was gonna take.

Fuk I’m waiting for my account to be upgraded

[RobParks2M]

Fuk I’m waiting for my account to be upgraded

They hurried mine along


EDIT: also I wasn't thinking straight when CCIV was dropping. I should have BTC my 40 leg when it was up huge

[Slamt]

Bought some next week's PLUG calls with today's winnings....

They ran up most of the retarded names today and they all got slammed, maybe they'll try to use that money elsewhere.

pls

[wrastler163]

They hurried mine along


EDIT: also I wasn't thinking straight when CCIV was dropping. I should have BTC my 40 leg when it was up huge

forgive the ignorance, but whats BTC?

[RobParks2M]

forgive the ignorance, but whats BTC?

Buy to close. It is what you do when you sell someone the call

[chino3]

Closed out one of the legs on my TSLA play:

$800cc/$800csp/$900csp

Closed out the CC for a $9k loss. If I closed everything out right now, I would be at +$15k, but have a feeling we will see it go higher leading up to tomorrow. Aiming to close out at $18k

To make things extra spicy, I opened $920csp 1/29. Why you ask? Putting in an offer on a house today, and it will move quick af if I get accepted. If it gets called away at $920, with the premium I will have gone 3.5x on my position, and that feels like as good of a time to walk away as any. If it doesn't get called away, that's $5400 in premiums for the week.

[RobParks2M]

Closed out one of the legs on my TSLA play:

$800cc/$800csp/$900csp

Closed out the CC for a $9k loss. If I closed everything out right now, I would be at +$15k, but have a feeling we will see it go higher leading up to tomorrow. Aiming to close out at $18k

To make things extra spicy, I opened $920csp 1/29. Why you ask? Putting in an offer on a house today, and it will move quick af if I get accepted. If it gets called away at $920, with the premium I will have gone 3.5x on my position, and that feels like as good of a time to walk away as any. If it doesn't get called away, that's $5400 in premiums for the week.

Nice! I hopped into IPOE 3/19 20 CSP for $2.50 seemed pretty dam good for almost a 100% chance of expiration

[LCBOLeo]

Have a whole bunch of PLTR calls that are up a nice amount, but have no clue when to sell tho.

[ReyDelMundo]

Grabbed GME 4/16 calls for theta, yes I am retarded.



PLTR 1/29 30c here, can't wait for their demo tomorrow, is it gonna be like skynet or mediocre?!

Bro, Karp Fukks. This isn't going to be a stand up office meeting to go over the new Xerox machine.

Holding 1/29 $28 calls and 2/19 $35 calls. I'm expecting PLTR to straight drop bombs and launch Moon Rockets on Demo Day and Annual Earnings.

[meteoraniac]

I've $BB june 12c, jan22 12c (they are up 500-600%) since dec

what do? rollover or buy underlying?

im too retarded to know anything beyond buying calls/puts

[MinisterOfLust]

In , because I have zero knowledge about option trading

[Slamt]

Bought some next week's PLUG calls with today's winnings....

They ran up most of the retarded names today and they all got slammed, maybe they'll try to use that money elsewhere.

pls

All done with these



I'll never be able to hold these for hundreds of percent and I'll just have to be able to be fine with that.

[chino3]

All done with these



I'll never be able to hold these for hundreds of percent and I'll just have to be able to be fine with that.

why did you block out info?

[Slamt]

why did you block out info?

I trade with other groups and post some of these charts/positions to other places so I don't want people to know my personal info/position and it's makes you look sleazy to post $ gain instead of how the play went overall anyways.

[Slamt]

Just bought some PLUG 90C weeklies. FOMO too strong, but using gains from the other trade.

this might be autistic

good start

buy low, sell high, then buy back higher, lulz.

holding till plug hits 100 or contract expires worthless

yolo

[chino3]

Closed out one of the legs on my TSLA play:

$800cc/$800csp/$900csp

Closed out the CC for a $9k loss. If I closed everything out right now, I would be at +$15k, but have a feeling we will see it go higher leading up to tomorrow. Aiming to close out at $18k

To make things extra spicy, I opened $920csp 1/29. Why you ask? Putting in an offer on a house today, and it will move quick af if I get accepted. If it gets called away at $920, with the premium I will have gone 3.5x on my position, and that feels like as good of a time to walk away as any. If it doesn't get called away, that's $5400 in premiums for the week.

update, could close at $18k, but there is way too much intrinsic left on the 900csp to close it out now. Premium was $100, could close out at $48, but that's just too much. EDIT: just closed out $800csp leaving $1k on the table, but feel good about the whole move tbh. After the 9k loss with the 800cc this puts me at +$7600, with the 900csp and 920cc still outstanding.

[Slamt]

good start

buy low, sell high, then buy back higher, lulz.

holding till plug hits 100 or contract expires worthless

yolo

full HODL



ran up to .85 for around 175% at one point. probably should have sold out my cost basis and ride for free but fuk it

YOLOOOO

[NoScrubz]

Fuk I’m waiting for my account to be upgraded

Still waiting for the upgrade smh. FUk E-Trade

[chino3]

Can anyone explain this chit:

I bought two AMD covered calls for about $600 total in premium. Checked my account balance after I bought, and nothing seemed to change. I figured "ok, maybe the account balance reflects the premium once expiration has been reached".

Today AMD had a massive dip and my CCs were $600 in the green, so I decided to buy to close, early. Sold them, yet I noticed zero change in my account balance.

Am I missing something here?

Do you have any balances through margin? Just remember, that when you sell/write an option, you get the value of that contract immediately BUT your overall value will NOT change until you see a swing in either direction, and ultimately won't see the full realization until the position is closed out.

[chino3]

Closed out my January and February positions with TSLA today. This was a good, but stressful, lesson on options management, and knowing the difference between diamond hands, hubris, and stubbornness.

In short, I sold $800cc's for January AND February (greedy af) right around the S&P inclusion news (it just ran up to $600, figured no way it would go up what would become 50% in just a month...). I had opportunities to roll up/out, but I really really hate that (just more time I have to think about it and see it on my dashboard, and as is with TSLA you never know how fukkin massively it can run up).

Strategy discovered and utilized:

I didn't want to get my shares called away, and I didn't want to roll out. I decided to sell puts at strikes near the CC strike price so it would act like insurance in the event of assignment. This is come to find out a strangle lol. I was actually really happy to see that I figured out a known strategy on my own, as it showed me that I am really getting things if that makes sense.

I'm more than happy to write up the process or analysis if anyone is interested, but not sure if I will be able to put pen to paper as well as it is in my head lol.

I could've played it better, but overall I am happy, and profit is profit. I don't feel bad about ordering that new watch after all lol

[RobParks2M]

Closed out my January and February positions with TSLA today. This was a good, but stressful, lesson on options management, and knowing the difference between diamond hands, hubris, and stubbornness.

In short, I sold $800cc's for January AND February (greedy af) right around the S&P inclusion news (it just ran up to $600, figured no way it would go up what would become 50% in just a month...). I had opportunities to roll up/out, but I really really hate that (just more time I have to think about it and see it on my dashboard, and as is with TSLA you never know how fukkin massively it can run up).

Strategy discovered and utilized:

I didn't want to get my shares called away, and I didn't want to roll out. I decided to sell puts at strikes near the CC strike price so it would act like insurance in the event of assignment. This is come to find out a strangle lol. I was actually really happy to see that I figured out a known strategy on my own, as it showed me that I am really getting things if that makes sense.

I'm more than happy to write up the process or analysis if anyone is interested, but not sure if I will be able to put pen to paper as well as it is in my head lol.

I could've played it better, but overall I am happy, and profit is profit. I don't feel bad about ordering that new watch after all lol

Glad to see you post. Hope you at least grace us with your presence here and the spac thread. I've kinda given up on the other thread. Srs though look at spacs for CSP they have fantastic premiums. APXT, BFT, IPOE are all great. CCIV 20 strike premiums were great today too!

Still waiting for the upgrade smh. FUk E-Trade

Just do it manually- I didn't realize this works even better IMO. Buy your lower strike calls at 10am-ish when it dips. Sell your higher strike when it starts to gain tomorrow.

[chino3]

Glad to see you post. Hope you at least grace us with your presence here and the spac thread. I've kinda given up on the other thread. Srs though look at spacs for CSP they have fantastic premiums. APXT, BFT, IPOE are all great. CCIV 20 strike premiums were great today too!



Just do it manually- I didn't realize this works even better IMO. Buy your lower strike calls at 10am-ish when it dips. Sell your higher strike when it starts to gain tomorrow.

Thanks brah. I’ve been told I got out just in time lol.

Totally forgot but there’s a misc discord that got started up last year that never picked up due to not inviting anyone lol. If anyone is interested I’ll start it back up and send out invites.

[SolidPaul]

Bunch of *******s in the main investing thread now. I mainly trade options. I guess I should use this thread more.

Opened up calls on JNJ, vaccine news was an overreaction and I saw heavy flow on monthy calls a few months out. Still stuck in some other options that were up until the meme stocks took over. Thinking taking small profits in this market is safer and reentering rather than just holding and seeing gap downs.

[NoScrubz]

Just do it manually- I didn't realize this works even better IMO. Buy your lower strike calls at 10am-ish when it dips. Sell your higher strike when it starts to gain tomorrow.

**** didn't even see this until right now. Yeah I'll try this on Monday if my account hasn't been upgraded yet thanks brah

[chino3]

Bunch of *******s in the main investing thread now. I mainly trade options. I guess I should use this thread more.

Opened up calls on JNJ, vaccine news was an overreaction and I saw heavy flow on monthy calls a few months out. Still stuck in some other options that were up until the meme stocks took over. Thinking taking small profits in this market is safer and reentering rather than just holding and seeing gap downs.

What’s the expiry on the ones you’re most worried about? If they’re 2/19 or later I’d diamond hands it until you either hit a threshold of fukk it or until the Wednesday prior. I really wish I would’ve stuck to my original plan with TSLA this week, would’ve been an extra $5k but that’s life.

I opened another tsla Strangle today. I did a weekly so as it stands I’m getting assigned lol. But my cost basis will be $785, so I’ll just start wheeling. I’m really concerned for what the potential consequences of the Reddit revolution will be. I liquidated all my longs except tsla and AXP. I still have a chit ton of CSPs that may be good to take on tbh but I’m trying to stay as liquid as possible. 66% cash right now.

[SolidPaul]

What’s the expiry on the ones you’re most worried about? If they’re 2/19 or later I’d diamond hands it until you either hit a threshold of fukk it or until the Wednesday prior. I really wish I would’ve stuck to my original plan with TSLA this week, would’ve been an extra $5k but that’s life.

I opened another tsla Strangle today. I did a weekly so as it stands I’m getting assigned lol. But my cost basis will be $785, so I’ll just start wheeling. I’m really concerned for what the potential consequences of the Reddit revolution will be. I liquidated all my longs except tsla and AXP. I still have a chit ton of CSPs that may be good to take on tbh but I’m trying to stay as liquid as possible. 66% cash right now.

Saw massive volume, 4 million on TSLA 970C for mid Feb, keep that in mind. You exited all your stock positions too?

I have EEM calls for 2/19. They're 75% down but at one point were up 60%. JNJ are for March and I will probably exit as soon as I see a pump. The rest are at least 6 months out. Worst play I made were ICLN leaps. Down 40% on those, was priced in apparently. I diversified my plays quite a bit and the big gainers were way more than the plays I lost on.

[RobParks2M]

**** didn't even see this until right now. Yeah I'll try this on Monday if my account hasn't been upgraded yet thanks brah

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.

[chino3]

Saw massive volume, 4 million on TSLA 970C for mid Feb, keep that in mind. You exited all your stock positions too?

Really curious how TSLA will behave. I’m not going to get into CC’s again until things are a little less chaotic. While I was EXTREMELY profitable with my last play, it was stressful AF at times trying to figure out how to make things work. It was like the saying “picking up pennies in front of a steamroller” lol. Full transparency I have
$850csp 2/5, $900cc 2/5
$850csp 3/19, $900cc 3/19

I exited half my long positions, that I was already whittling down over the past few months. The hardest to let go was LULU, but I was up 80%, and while I am still very confident in it’s trajectory over the next year, I also see it’s’ vulnerability in this current climate. That said, I have $330csp’s for 2/19 and 3/19. Also ditched AMZN because it behaves like a little bish. It’s been trading sideways for the past 6 months at least. Once it decides to move, it will do so without looking back, but I just don’t know what the catalyst could be. I might do another $3,000CSP for a weekly expiry... We’ll see how next week starts

I'm down a significant amount on AMD, and a bit on CRSR, all my other holdings are SPACs (BFT/CCIV/FTOC). Really chitty because CRSR was mooning right when the short squeezes started, and AMD had just gotten price upgrades to $100+.. debating whether to just liquidate everything and then buy back in once I start to see things go back up.

If you aren’t down, it might not be a bad idea, but also unless you have somewhere you REALLY want or NEED to put that money, I wouldn’t bother. My goal was to reduce exposure and free up funds for: existing exposure with CSP’s just in case, and also for dry powder if I see something that I really REALLY want to go in deep on. Trying to avoid margin at all costs this year, as a discipline practice, so just fine tuning my management process.

[Carbonfibre]

ah so this the better thread now.

that other one is filled with new garbage posters.

Option flow for apple was really strong yesterday. those insane earnings are not going to be ignored imo.

Volume on 2/05 calls is heavy.

Any date in February actually.

If the meme shiit dies down and market isn't looking like it will tank any moment next week.


I am looking at $150 2/26 expiry Monday.

[chino3]

^^^ CarbonFibre

There is no reason AAPL should’ve dropped the way it did, and then the overall market drop was just insult to injury. I think that 2/26 call is solid. Might look into a call spread for that actually...

Also tempted to hedge with SPY puts. What’s your experience / recommendation? Weeklies? 6+ months?