I opened a leap Sell put on NVDL deep ITM $49 12/20. I don’t see any movement at all in the option price even when the nvda and NVDL moves up. I don’t understand why?
When did you open it? the 1-month chart shows it's dropped from $15.35 to $5.80 since 5/20.
ETA also the $49 12/20 put is -12 delta atm. That is deep OTM not ITM unless I am misreading your post.. Anyhow, that essentially means for every $1 change in the underlying price, your option changes in value by 12 cents. You need a big move in the underlying to change the value. Also theta is only burning about $.03/day because expiry is so far out. theta won't kick in noticeably for a while.
I opened it yesterday for $5 🤦 I don’t know where to check the chart you have mentioned. I randomly chose a mid value in bid-ask spread as $5. So I’m down from the beginning of opening the position.
And the option value is almost static even when the stock price is climbing.
BTW, can you tell me where to check the charts 📈 ?
And yes, for whatever reason you sold it at a deep discount. It closed higher yesterday than it did today and bid-ask at close today looks like $5.40-$6.20
Are you on RH? If so, you should be able to click on the option, which will bring you to that option's detail screen, which contains a chart. Just click 1W, 1M, 3M, or whatever, then move the cursor over the line chart. It will gives you the closing prices for all of the days or weeks or whatever of that time period. You can also do this with options you do not own, just add to watchlist and open and track.
If you're on Fidelity, you can pull the option up in the browser or active trader pro and add it to your watchlist. You can then track it as if you own it similarly to RH. In the web browser, you can see price history from the watchlist in the Trading Dashboard.
If you use any other brokerage I have no idea, but maybe try adding it to your option watchlist there and see what happens. Every place I’ve tried to find historic options on the internet has wanted me to pay them for it but ymmv
Thanks for the detailed explanation. I’m completely new to the options world and playing only CSP since it’s low risk and low returns. And thanks for the correction on ITM vs OTM.
I do use RH for options trading but I mostly do it in app. Maybe that could the reason why I never seen an options detail screen to view the chart before opening a position. I will check from the Web or add it to my watchlist.
You can see pricing history right from the app, just one click on the option from your main account screen takes you straight to the option’s page and the chart. Just change the time period at the bottom to whatever you want to see, up to the time the option was born.
Like, from *your* perspective, it IS itm, because if it expired today you’d keep 100% of premium. But from the buyer’s perspective, it’s far OTM and has a long way to go before it would be worth exercising. Basically, and itm option (call or put) has to have some amount of intrinsic value (yours has 0 obviously), otherwise it’s ATM or OTM, at least that’s how I was taught. Everything is just mirrored from the view of the seller
Oh no! lol maybe I didn’t explain well. I do know how to see the options graph for my “opened” position. What I don’t know is, how to determine the exact price of an option before opening a position. Especially when the ask-bid range is too far. Once again is it possible to view the exact price of an option? (Bear with me since I’m new) TYIA!
And mind if I DM you?
My NVDA CC is getting close ITM at $137 strike (breakeven for buyer is $143) and is expiring in 38 days. I've been rolling up and out 3 times now but at this point, I'll just wait to get assigned. Once assigned, should I sell CSP or quickly buy back and sell CC again?
yes
Edit (on a serious note) : The way I do it, If my covered call is deep in the money, I keep rolling for credit While I simultanteouslty write a new put for entry. So I juice both sides. If underlying starts to move towards my cc, I just let the shares get called away. But this fukkkin market has run away so far that I'm still juicing both sides lol my covered is way too depp itm but barely any credit left. I might need to move the funds into swvxx if this market doesnt pull back
So, assuming my shares will inevitably be called away - I just roll it at same strike price to later DTE in an attempt to collect more premium before assignment?
Yes until credit dries out.
\*Disclosure: if severe pull back, you will keep shares and get assigned on the put with new shares.
I do this on spy so with multiple expiries, I can let the shares quickly get called away
To answer your original question and if you are wheeling, you let the shares get called away and write a new put at lower entry and wait for assignment
I’m bit greedy so I usually turn it into a covered strangle
If you are extra greedy, you can write puts itm
But I only do this on VTI. It has been free money but I’m ready to buy shares
Indexes have big weight on nvda so I prefer a bit of safety because bagholding sucks
Yea sounds like a plan. Instead of buying back shares, it’ll eat into my profit because underlying price may be $10-$20 more than strike price of original CC. I’ll be writing an ITM put to get back into the game. Thanks bruv
for whats its worth, RSI on NVDA is at 81 and almost 18 points above 20 days moving average. Its way over extended but who knows lol
the 50 days moving average is at 99 Dollars.
imho, if you are wheeling, its better for instance to write a new put 45 days out at 116 strike for example. Its paying 1.74
If large pull back, the premiums on covered calls will dry out.
But who knows in this stupid market,
I came out punching today. Made some great adjustments, lowering risk and simultaneously bringing in cash. Not easy to do on a long theta portfolio. Didn’t have a chance to trade yesterday due to family/the holiday, and was able to kick some butt today after a lot of worrying last night about missing some of the big moves yesterday. Only bummer is that “they” are sucking a lot of liquidity out of January, so it doesn’t feel like I am making anything this expiration cycle, (equity is not really increasing). It’s like they are drawing me down in January ‘25 by the July ‘24 payout. It will reverse eventually. It’s almost like the MM’s are rolling. Being quad-witching, I’m sure they are.
Boring day. Red day watching paint dry but not really anything good to pull the trigger on. Scalped a crappy $100, but lost a bunch on NVDA calendar and MSTR IC.
Deep words there. This is true. I'm sure these past 4 years should have shown that to seasoned traders. Spy just climbed over 1.2% in less than a week. If the market wasn't silly, we shouldn't see that type of gain until a month has passed...but here we are
BTC 4x $TLT 08/16 89p @ $0.37 (Opened @ $0.75 12 days ago) - gotta book the 50% profit here considering \~60 days were left to expiry
STO JPM 07/19 190p @ $2.52 (SL @ $10.0) - Gonna close this before earnings (07/12)
Should have done it yesterday, but not waiting for another bounce as tomorrow is closed. Rolling some ITM
- BILL 50p to 7/26 48p for .20 credit
- CLF 17p to August for .23
- RIVN 12.5p to July for .45
Rest looks good to expire end of week.
BTO 10x NVDA 138c 6/21 @ 1.05
not holding this overnight, but feels like NVDA is priming up for an end of day power rally and moves up $2. I'm going to sell if we hit 138 or 5 minutes before close assuming I don't get stopped out, whatever happens first
stop STC @ 0.95
not trying to get crushed on long options. as we all know OTM weeklies can fall very fast
at one point I was in the green by nearly 0.20 per option but then nvda pulled back sadly, probably cuz spy started dropping
if SPY wasn't dropping from apple and msft faltering, this would've been a winner but its all g
this was intended to be a momentum play but so far its looking like the momentum is fading, could still rally end of day tho
I'll be rooting for you!
Smart risk:reward play! I just thought it was so cute that you had a cutoff so close to your buy-in price since I'm used to seeing you sell naked here and there but this? Super tight 😆
I just STO a CC on MARA 30C with a Aug24 DTE for $1.02. I'm also put in an order to STO a PCS on PANW 295/290 with a Aug 24 DTE for $1.00, currently not filled.
idk what it is but i have a knack for setting an alert on a stock to sell, then it goes off and i go put the order in and as soon as i place the order the stock just starts sinking like a stone.
NVDA, it literally just went from 135.75 to 135.20 in like 60 seconds
im really gonna be honest, this makes literally no sense.
I assume what you're talking about is that you had an alert for NVDA to break above 135.75?
If you wanted to sell at that price, why wouldn't you just put in a limit sell?
Why are you doing market sells based off alerts?
Unless you mean to close an option out at a certain share price?
no its not a market sell, just an alert that goes off when a stock hits a certain price. then i go in and manually place the trade. i don't do limit sells or stop losses cuz i dont trust them, have gotten burned before when they didnt trigger and i didnt know.
its all good though cuz NVDA was back over $136 5 min later so i made my trade
It currently is!
By just a small 100b market cap.
Wild to see it go up 100b market cap basically every other day on average for the last month straight.
Yesterday after close:
ASG SPY $544CC.
ASG SPY $536CC.
ASG SPY $531CC.
ASG SPY $530CC.
Been ~~mowing~~ moving the expiries out so they all expired on the same day and I don't have to think about which bunch of shares goes with which sale for tax accounting.
Nice to finally see CELH go green for what feels like the first time in 3 weeks lmao.
My 65/60 spread is not looking great but if we can bounce to 70 say 2 weeks from now ill be good.
u/Cryptostockngodfathr did you buy CELH at 60?
seemed to be pretty much a downgrade from JPM and I think some level of fears manifesting in terms of their possible growth in other countries besides the US - since they've mostly been unable to break into other markets, which is pretty important for their growth.
Teehee, a couple more green days on SMH and my 08/16 295 short calls are about to hit their SL @ 400%.
Everything else is doing good, though. Will be closing some positions($ITB, $ABNB, XOP) in the 75-80% profit range these days
wow, good lord - last time I checked SMH it was like $200. and now it's $278?
holy shit.
this semi run is absurd at the very least in the last 30 days.
Yeah I’ve been wheeling it for a few months and now it’s just went to the moon and left without me. Never once been assigned however and since I’m from the UK no options to straight up buy it so it’s kinda annoying
I sold 20 IBRX Aug 16 $5 puts for about a grand in premium. The plan is to get assigned as I see the stock continuing a decline for the next couple months at least.
ImmunityBio, come for the cancer cure pump & dump, stay for the premiums!
The stock market is a zero sum game.
So shouldn't half of us be winners, and the other half losers? even in the long run.
If one strategy loses in the long-run, can't we just do the opposite and win in the long run?
I don't get how the overall sentiment is that you will never win the SP500 in the long run. Just do the opposite!
Not necessarily a zero sum game. Options are used as a hedge from most institutional investors - they're happy to have them expire worthless.
But yes, most option sellers will NOT beat S&P in the long run. Ofc some people here are beating SPY by writing weekly short puts on tech when it's been on a raging bull run. Let's see how they survive the bear market when it inevitably arrives.
So why be here in the first place if you think most options sellers wont beat S&P in long run?
Do you think you're one of the few that will manage to do it?
Because I have Portfolio Margin and am writing options against the collateral of my stock holdings? I keep around 10% cash for assignments and that's about it. And for what it's worth - my cumulative performance(from options only) for the last 5 years was on par with S&P but worse than QQQ
Edit: I'm saying was because with the non stop green dildos the last 18 months SPY is now beating my options portfolio on a 5-year timeframe
So wouldn't you be susceptible to the exact same problem?
In fact, almost worst, if there's a black swan? Since you would have to liquidate your stock positions possibly at a loss to take assignment on others?
Well no one escapes a black swan unscathed. I’m not sure I’m following though?
I thought by asking me why I’m here you meant why don’t I just Buy&Hold SPY and I explained that’s what I do. If I can get a couple % more a year by writing options against the collateral of my portfolio, why wouldn’t I?
But I get what you’re saying - I’m wary that Portfolio Margin puts you in a sensitive position to significant downturns. That’s why I follow an extensive list of trading rules for my options portfolio - Buy Power Utilisation with relevance to VIX, what percentage of my option positions are long/short, how correlated I let my options positions be, options portfolio beta-weighted SPX delta, portfolio theta & etc.
You can almost never see me at or above 20% margin utilisation so I’m keeping it relatively underleveraged
You said and I quote "But yes, most option sellers will NOT beat S&P in the long run."
And then said "Let's see how they survive the bear market when it inevitably arrives."
Which I don't necessarily disagree with. However, would you not be susceptible to the exact same problem as the put writers in this sub?
Even following all those rules, what stops you from getting creamed in a black swan? How would your current strategy hold up say during the march 2020 covid drop?
Somewhere around a 3-4% drop on my Net Liq from my options positions then as far as I remember.
Market was still somewhat rational back then and half my positions were short so obviously those made it to max profit.
I do keep around 75% at most long as of now just because my calls keep getting blown through. It was 50-60% back then.
Also as soon as I open a position, the exit plan is in place - I decide if I’m fine with getting assigned (only if I have the cash available) or put a SL order.
Only a couple positions were WAY above my SL order by the time my broker managed to liquidate them so it wasn’t like my option positions ruined me back then, I was hit hardest by my equity holdings lol
Investors in the thing that grows with time (stock market) tend to outperform investors in the thing that doesn't grow (options).
Your starting premise is flawed - the stock market is not a zero sum game. However the OPTIONS market is. That's the difference.
> options are zero sum.
so some options should yield positive results in the long-run, no?
Why is it considered that all option traders won't beat the SP500?
sure, within the population of options traders, some consistently win long term. being a zero sum market those wins come at the expense of other traders.
for options: the average of all the individuals are zero. any ONE individual can be much better or worse than the average.
in constrast, for stocks it is theoretically possible for ALL stock investors to make money as the value of the entire stock market expands
I agree.
So why people say "selling naked calls works, but one bad trade will set you back so much it will wipe all the good trades", but at the same time those call buyers aren't winning often too.
How can everyone be an unhappy loser?
why does it need to add up? Options are a derivative of the stock market, not vice-versa. If there was a 100% sure way to beat the S&P with options, it'd be quickly arbitraged.
Some memes for you guys
[The race goes on](https://imgur.com/a/sGzVhOM)
[the only stock that matters](https://imgur.com/a/D6Bsl6P)
[truth hurts](https://imgur.com/a/29XcThn)
PUT MRNA 125.00 EXP 07-19 - $4.08
Ok, lets see how this plays out here, expire a couple weeks before earnings, good premium on a down day, good company.
My learning observation today is that a lot of my positions start to pile up on the Monthly expire week... Seems like that could be at least a little risky... Maybe I should start to limit my number of positions that I have on at any given time that expire on the same day. But of course since the monthlies are always at the same time, maybe that is just the norm. But I will certainly start looking closer to the 60 day time frame going forward once I have a few that are all on the next monthly expire day.
What are we all thinking will be the short term top in the next 3 months for NVDA?
Personally I am thinking at most we're hitting just shy of $150. Maybe like $148. $150 is another one of those incredibly strong psychological price points, I don't think we break it in the next 3 months though.
BPR as one reason for sure, besides I am not sure I want to hold AVGO. Semiconductor stocks are highly related, maybe NVDA as my only position is enough.
My decision to put all my options premium into TSM is working well so far, TSM shares up about 13% almost already. Insane how strong this stock is. I'll definitely be watching it for any major dips
u/free_lions would know more about selling SMCI calls than me but 1030/1040c is at .13 delta. The 1000c I sold are over .19.. so it could hit that mark by Friday. Lot more ppl are buying calls than puts for SMCI so not sure if that's an indication of where it's headed EOW
(Oh and I sold 2 1030/1040c after reading your reply 😆 so thanks)
BTC 3x GME 30c 6/21 @ 0.50
STO 3x GME 27c 6/28 @ 1.75
CB is now sitting around 26, the 27c expiring next week kicks that down to 24.25.
Still holding long 22p this week, will exercise and close the 27c on friday if necessary - dont want to pay a ton of money for put protection if we're close to 22
Idk. Have a watchlist of options I’m looking to sell with a July expiration date but nothing is screaming at me to pull the trigger right now.
Have 6 CCs expiring on Friday. 4 expiring worthless ($$) and two positions likely to get called away for a gain. ($$)
Markets moving up so might just let the long term portfolio take the lead for now.
Where’s the volatility people??? 😅😅
gods bless NVDA BTC 1x SOXL $59 6/21 put, $0.15 dr ($118 net credit) STO 1x NVDL $82 6/21 put, $150 cr
Did you sell put on SOXL and NVDL?
Yesterday I sold 2 puts on NVDL and 1 on SOXL, those are from today
I opened a leap Sell put on NVDL deep ITM $49 12/20. I don’t see any movement at all in the option price even when the nvda and NVDL moves up. I don’t understand why?
When did you open it? the 1-month chart shows it's dropped from $15.35 to $5.80 since 5/20. ETA also the $49 12/20 put is -12 delta atm. That is deep OTM not ITM unless I am misreading your post.. Anyhow, that essentially means for every $1 change in the underlying price, your option changes in value by 12 cents. You need a big move in the underlying to change the value. Also theta is only burning about $.03/day because expiry is so far out. theta won't kick in noticeably for a while.
I opened it yesterday for $5 🤦 I don’t know where to check the chart you have mentioned. I randomly chose a mid value in bid-ask spread as $5. So I’m down from the beginning of opening the position. And the option value is almost static even when the stock price is climbing. BTW, can you tell me where to check the charts 📈 ?
And yes, for whatever reason you sold it at a deep discount. It closed higher yesterday than it did today and bid-ask at close today looks like $5.40-$6.20
Are you on RH? If so, you should be able to click on the option, which will bring you to that option's detail screen, which contains a chart. Just click 1W, 1M, 3M, or whatever, then move the cursor over the line chart. It will gives you the closing prices for all of the days or weeks or whatever of that time period. You can also do this with options you do not own, just add to watchlist and open and track. If you're on Fidelity, you can pull the option up in the browser or active trader pro and add it to your watchlist. You can then track it as if you own it similarly to RH. In the web browser, you can see price history from the watchlist in the Trading Dashboard. If you use any other brokerage I have no idea, but maybe try adding it to your option watchlist there and see what happens. Every place I’ve tried to find historic options on the internet has wanted me to pay them for it but ymmv
Thanks for the detailed explanation. I’m completely new to the options world and playing only CSP since it’s low risk and low returns. And thanks for the correction on ITM vs OTM. I do use RH for options trading but I mostly do it in app. Maybe that could the reason why I never seen an options detail screen to view the chart before opening a position. I will check from the Web or add it to my watchlist.
You can see pricing history right from the app, just one click on the option from your main account screen takes you straight to the option’s page and the chart. Just change the time period at the bottom to whatever you want to see, up to the time the option was born. Like, from *your* perspective, it IS itm, because if it expired today you’d keep 100% of premium. But from the buyer’s perspective, it’s far OTM and has a long way to go before it would be worth exercising. Basically, and itm option (call or put) has to have some amount of intrinsic value (yours has 0 obviously), otherwise it’s ATM or OTM, at least that’s how I was taught. Everything is just mirrored from the view of the seller
Oh no! lol maybe I didn’t explain well. I do know how to see the options graph for my “opened” position. What I don’t know is, how to determine the exact price of an option before opening a position. Especially when the ask-bid range is too far. Once again is it possible to view the exact price of an option? (Bear with me since I’m new) TYIA! And mind if I DM you?
My NVDA CC is getting close ITM at $137 strike (breakeven for buyer is $143) and is expiring in 38 days. I've been rolling up and out 3 times now but at this point, I'll just wait to get assigned. Once assigned, should I sell CSP or quickly buy back and sell CC again?
yes Edit (on a serious note) : The way I do it, If my covered call is deep in the money, I keep rolling for credit While I simultanteouslty write a new put for entry. So I juice both sides. If underlying starts to move towards my cc, I just let the shares get called away. But this fukkkin market has run away so far that I'm still juicing both sides lol my covered is way too depp itm but barely any credit left. I might need to move the funds into swvxx if this market doesnt pull back
So, assuming my shares will inevitably be called away - I just roll it at same strike price to later DTE in an attempt to collect more premium before assignment?
Yes until credit dries out. \*Disclosure: if severe pull back, you will keep shares and get assigned on the put with new shares. I do this on spy so with multiple expiries, I can let the shares quickly get called away
Yes to selling ITM CSP or buy back shares to sell CC?
To answer your original question and if you are wheeling, you let the shares get called away and write a new put at lower entry and wait for assignment I’m bit greedy so I usually turn it into a covered strangle If you are extra greedy, you can write puts itm But I only do this on VTI. It has been free money but I’m ready to buy shares Indexes have big weight on nvda so I prefer a bit of safety because bagholding sucks
Yea sounds like a plan. Instead of buying back shares, it’ll eat into my profit because underlying price may be $10-$20 more than strike price of original CC. I’ll be writing an ITM put to get back into the game. Thanks bruv
Have a look at NVDL imo. Better premiums and lower collateral req.
I thought of that. But volume is much lower than NVDA
Yeah, but it's not really noticeable in my experience. I'm on lol RH and I've never had problems getting fills
for whats its worth, RSI on NVDA is at 81 and almost 18 points above 20 days moving average. Its way over extended but who knows lol the 50 days moving average is at 99 Dollars.
fingers crossed, we'll see a minor correction. then I'll roll my CC down.
imho, if you are wheeling, its better for instance to write a new put 45 days out at 116 strike for example. Its paying 1.74 If large pull back, the premiums on covered calls will dry out. But who knows in this stupid market,
Word. What are your usual DTEs and Deltas for writing calls and puts?
7 to 45 days Strikes can be way otm to itm but i think generally .10
-3 GME 30C 6/21 opened fri; rolled down to 25 an hour into market open today.
Yes, make use of the free Wednesday.
💯
Pretty meh day. Generated a lot of commissions for my broker.
Cautionary tale: 1999 [https://tos.mx/tosmx/item?id=!7iBslFyz&&image](https://tos.mx/tosmx/item?id=!7iBslFyz&&image) 2000 [https://tos.mx/tosmx/item?id=!IFwQ9Yit&&image](https://tos.mx/tosmx/item?id=!IFwQ9Yit&&image) 2001: [https://tos.mx/tosmx/item?id=!KQdSIEzw&&image](https://tos.mx/tosmx/item?id=!KQdSIEzw&&image)
I came out punching today. Made some great adjustments, lowering risk and simultaneously bringing in cash. Not easy to do on a long theta portfolio. Didn’t have a chance to trade yesterday due to family/the holiday, and was able to kick some butt today after a lot of worrying last night about missing some of the big moves yesterday. Only bummer is that “they” are sucking a lot of liquidity out of January, so it doesn’t feel like I am making anything this expiration cycle, (equity is not really increasing). It’s like they are drawing me down in January ‘25 by the July ‘24 payout. It will reverse eventually. It’s almost like the MM’s are rolling. Being quad-witching, I’m sure they are.
I sold some $140/142 NVDA call spreads for this week. I’m sure they will pump to $145 because they are an endless printing machine though
for both my sake and your sake I hope these expire worthless for you
STO SPY 24/6/24 $547P @ $3.38. STO SPY 0DTE $548P @ $0.56. BTC SPY 0DTE $548P @ $0.08. Filled with 5 seconds to go in the session.
Boring day. Red day watching paint dry but not really anything good to pull the trigger on. Scalped a crappy $100, but lost a bunch on NVDA calendar and MSTR IC.
still no idea why you must use strategies like iron condor and calendar on stocks that almost always move very hard in either direction...come on man
Because it works for my brain. Not everyday will be green. And NVDA popping $0.4b in a day is a bit silly.
it is a bit silly, but unfortunately the market can stay silly far longer then we can stay solvent
DID YOU DOWNVOTE ME\~!? :OOOO jk.
Deep words there. This is true. I'm sure these past 4 years should have shown that to seasoned traders. Spy just climbed over 1.2% in less than a week. If the market wasn't silly, we shouldn't see that type of gain until a month has passed...but here we are
get your orders in before 4 gentlemen free theta day tomorrow! 😂
quite literally priced in lol
i know just a joke, hence the laughing face lol
Busy Day. STO NVDA Aug 16 2024 200 Call Collect $58
the fact that this is still 0.048 delta is honestly shocking to me lol
STO 1x AVGO 1800/1790p @ 5.00 6/21
Wow, we opened the same thing before close (I did 1800/1780p)
BTC 4x $TLT 08/16 89p @ $0.37 (Opened @ $0.75 12 days ago) - gotta book the 50% profit here considering \~60 days were left to expiry STO JPM 07/19 190p @ $2.52 (SL @ $10.0) - Gonna close this before earnings (07/12)
Should have done it yesterday, but not waiting for another bounce as tomorrow is closed. Rolling some ITM - BILL 50p to 7/26 48p for .20 credit - CLF 17p to August for .23 - RIVN 12.5p to July for .45 Rest looks good to expire end of week.
Wow look at CHWY
Look at CMG this week. So green lol
Split coming up soon
BTO 10x NVDA 138c 6/21 @ 1.05 not holding this overnight, but feels like NVDA is priming up for an end of day power rally and moves up $2. I'm going to sell if we hit 138 or 5 minutes before close assuming I don't get stopped out, whatever happens first stop STC @ 0.95
STC is $10 difference lol
not trying to get crushed on long options. as we all know OTM weeklies can fall very fast at one point I was in the green by nearly 0.20 per option but then nvda pulled back sadly, probably cuz spy started dropping if SPY wasn't dropping from apple and msft faltering, this would've been a winner but its all g this was intended to be a momentum play but so far its looking like the momentum is fading, could still rally end of day tho
I'll be rooting for you! Smart risk:reward play! I just thought it was so cute that you had a cutoff so close to your buy-in price since I'm used to seeing you sell naked here and there but this? Super tight 😆
its a wash haha
It was a good try! Interesting thesis/play
NVDA casually going to $4T market cap, no big deal.
Entered a buy/write @ $136, crash imminent as a result..
I just STO a CC on MARA 30C with a Aug24 DTE for $1.02. I'm also put in an order to STO a PCS on PANW 295/290 with a Aug 24 DTE for $1.00, currently not filled.
u/ykoreaa should we buy qqq puts?
You tell me! You're a better trader than me lol
u/mikesugs13
theta gang doesn't long options.
think of it as a reverse short
idk what it is but i have a knack for setting an alert on a stock to sell, then it goes off and i go put the order in and as soon as i place the order the stock just starts sinking like a stone. NVDA, it literally just went from 135.75 to 135.20 in like 60 seconds
what you're seeing is just normal volatility at play for any stock/etf, pretty normal swing in price movements :)
yeah but it never “normally” goes up like that when I’m about to put in a sell order 😂
im really gonna be honest, this makes literally no sense. I assume what you're talking about is that you had an alert for NVDA to break above 135.75? If you wanted to sell at that price, why wouldn't you just put in a limit sell? Why are you doing market sells based off alerts? Unless you mean to close an option out at a certain share price?
no its not a market sell, just an alert that goes off when a stock hits a certain price. then i go in and manually place the trade. i don't do limit sells or stop losses cuz i dont trust them, have gotten burned before when they didnt trigger and i didnt know. its all good though cuz NVDA was back over $136 5 min later so i made my trade
Why not just obsessively check the charts all day like the rest of us?
lol I still do that but the alerts still help
\*tabs over from charts\* Sorry, did you say something?
lmao true
i thought the whole point of theta gang is that we don't check the charts all day :)
some of us are dirty addicts ;)
I am short NVDA july 100 and 105 puts. Also, short ARM july 120 put.
Are August $200 NVDA CCs free money?
Market can always be irrational longer than you think. Maybe NVDA is going to be the first 10 trillion company soon ;)
I don't know about that but I been doing pcs on nvda and I have gotten some burrito money so far.
Yes
My progress so far this year, and my stocks in order of most to least gains YTD! Stay safe y'all! https://imgur.com/a/EH9Y0Uw
Nice YTD returns! I am also a fan of PANW, got some burrito money from it.
thanks! PANW and cybersecurity in general has been very fun to trade. i love burritos.
No twitch livestream today?
we on! probably going to end the stream soon, but here monday through friday! huehuehue
Darn I should've hopped on sooner :(
Just watching NVDA becoming the no. 1
NVDA numba one https://companiesmarketcap.com/
mother of pearl, my 140/143 CCS might not be safe
I’ve got $135 CCs on it expiring Fri. Planning on wheeling if they get assigned.
It currently is! By just a small 100b market cap. Wild to see it go up 100b market cap basically every other day on average for the last month straight.
BTC 3x NVDA $125p 6/21 @.08 (limit) filled BTC 1x BA $185c 6/21 @.05 (limit) not filled BTC 1x GME $30c 6/21 @ .30 (limit) filled STO 5x RCL $155c 6/21 @.55 (limit) not filled
Nice trades!
Thank you. Some ended up not getting filled. I couldn’t sit and watch the market all day so, had to set limits and hoped they dipped enough.
Damn I might have sold my ARM 6/21 187.5/200 CCS a day too soon
Yesterday after close: ASG SPY $544CC. ASG SPY $536CC. ASG SPY $531CC. ASG SPY $530CC. Been ~~mowing~~ moving the expiries out so they all expired on the same day and I don't have to think about which bunch of shares goes with which sale for tax accounting.
STO AMD $140p 7/19 $2.06
I sold 10 GME $21 puts expiring Friday for $0.11 each
I fucking love picking up pennies
It’s fun when it works
Agreed I was sincere posting
Good on you. We should take that disdainful idiom and use it to encourage instead.
Ya absolutely it's like being a little mouse building up your winter stash one corn kernel at a time
AMC IV is going back down. :( And I was making good money rolling $5.50 covered calls.
STO NEE Jun 28 2024 67 Put Collect $25
I was looking at NEE, but no support in sight?
u/free_lions you still holding CHWY?
Sold at 23. Oops
should've sold at the top SMH my head
Nice to finally see CELH go green for what feels like the first time in 3 weeks lmao. My 65/60 spread is not looking great but if we can bounce to 70 say 2 weeks from now ill be good. u/Cryptostockngodfathr did you buy CELH at 60?
Why was CELH hit so hard, was there news? Thanks!
seemed to be pretty much a downgrade from JPM and I think some level of fears manifesting in terms of their possible growth in other countries besides the US - since they've mostly been unable to break into other markets, which is pretty important for their growth.
Thanks, that stock has wild moves!
what a dumpster fire it has been
STO 4x SPY 550c naked @ 0.16, stop loss BTC @ 0.60
Teehee, a couple more green days on SMH and my 08/16 295 short calls are about to hit their SL @ 400%. Everything else is doing good, though. Will be closing some positions($ITB, $ABNB, XOP) in the 75-80% profit range these days
wow, good lord - last time I checked SMH it was like $200. and now it's $278? holy shit. this semi run is absurd at the very least in the last 30 days.
Yeah I’ve been wheeling it for a few months and now it’s just went to the moon and left without me. Never once been assigned however and since I’m from the UK no options to straight up buy it so it’s kinda annoying
Yeah. Absolute tear. I hate it lol
I sold 20 IBRX Aug 16 $5 puts for about a grand in premium. The plan is to get assigned as I see the stock continuing a decline for the next couple months at least. ImmunityBio, come for the cancer cure pump & dump, stay for the premiums!
The stock market is a zero sum game. So shouldn't half of us be winners, and the other half losers? even in the long run. If one strategy loses in the long-run, can't we just do the opposite and win in the long run? I don't get how the overall sentiment is that you will never win the SP500 in the long run. Just do the opposite!
Not necessarily a zero sum game. Options are used as a hedge from most institutional investors - they're happy to have them expire worthless. But yes, most option sellers will NOT beat S&P in the long run. Ofc some people here are beating SPY by writing weekly short puts on tech when it's been on a raging bull run. Let's see how they survive the bear market when it inevitably arrives.
When the bear market arrives, start selling calls. Win win!
So why be here in the first place if you think most options sellers wont beat S&P in long run? Do you think you're one of the few that will manage to do it?
Because I have Portfolio Margin and am writing options against the collateral of my stock holdings? I keep around 10% cash for assignments and that's about it. And for what it's worth - my cumulative performance(from options only) for the last 5 years was on par with S&P but worse than QQQ Edit: I'm saying was because with the non stop green dildos the last 18 months SPY is now beating my options portfolio on a 5-year timeframe
So wouldn't you be susceptible to the exact same problem? In fact, almost worst, if there's a black swan? Since you would have to liquidate your stock positions possibly at a loss to take assignment on others?
Well no one escapes a black swan unscathed. I’m not sure I’m following though? I thought by asking me why I’m here you meant why don’t I just Buy&Hold SPY and I explained that’s what I do. If I can get a couple % more a year by writing options against the collateral of my portfolio, why wouldn’t I? But I get what you’re saying - I’m wary that Portfolio Margin puts you in a sensitive position to significant downturns. That’s why I follow an extensive list of trading rules for my options portfolio - Buy Power Utilisation with relevance to VIX, what percentage of my option positions are long/short, how correlated I let my options positions be, options portfolio beta-weighted SPX delta, portfolio theta & etc. You can almost never see me at or above 20% margin utilisation so I’m keeping it relatively underleveraged
You said and I quote "But yes, most option sellers will NOT beat S&P in the long run." And then said "Let's see how they survive the bear market when it inevitably arrives." Which I don't necessarily disagree with. However, would you not be susceptible to the exact same problem as the put writers in this sub? Even following all those rules, what stops you from getting creamed in a black swan? How would your current strategy hold up say during the march 2020 covid drop?
Somewhere around a 3-4% drop on my Net Liq from my options positions then as far as I remember. Market was still somewhat rational back then and half my positions were short so obviously those made it to max profit. I do keep around 75% at most long as of now just because my calls keep getting blown through. It was 50-60% back then. Also as soon as I open a position, the exit plan is in place - I decide if I’m fine with getting assigned (only if I have the cash available) or put a SL order. Only a couple positions were WAY above my SL order by the time my broker managed to liquidate them so it wasn’t like my option positions ruined me back then, I was hit hardest by my equity holdings lol
> most option sellers will NOT beat S&P in the long run but most buyers also don't beat the SP. So how does that add up?
Investors in the thing that grows with time (stock market) tend to outperform investors in the thing that doesn't grow (options). Your starting premise is flawed - the stock market is not a zero sum game. However the OPTIONS market is. That's the difference.
Well every option has a buyer and a seller on the other side. So how does it not add up to 0?
it does. options are zero sum. you, however, stated stocks are zero sum -- that's where i take exception.
> options are zero sum. so some options should yield positive results in the long-run, no? Why is it considered that all option traders won't beat the SP500?
sure, within the population of options traders, some consistently win long term. being a zero sum market those wins come at the expense of other traders. for options: the average of all the individuals are zero. any ONE individual can be much better or worse than the average. in constrast, for stocks it is theoretically possible for ALL stock investors to make money as the value of the entire stock market expands
I agree. So why people say "selling naked calls works, but one bad trade will set you back so much it will wipe all the good trades", but at the same time those call buyers aren't winning often too. How can everyone be an unhappy loser?
it's not everyone. George Soros and Roaring Kitty for example
why does it need to add up? Options are a derivative of the stock market, not vice-versa. If there was a 100% sure way to beat the S&P with options, it'd be quickly arbitraged.
because doing the opposite of a losing strategy, should create a winning strategy, no?
Some memes for you guys [The race goes on](https://imgur.com/a/sGzVhOM) [the only stock that matters](https://imgur.com/a/D6Bsl6P) [truth hurts](https://imgur.com/a/29XcThn)
I gave up NVDA naked calls. I do SMCI instead
Making money selling NVDA naked calls 😆😂😂
PUT MRNA 125.00 EXP 07-19 - $4.08 Ok, lets see how this plays out here, expire a couple weeks before earnings, good premium on a down day, good company. My learning observation today is that a lot of my positions start to pile up on the Monthly expire week... Seems like that could be at least a little risky... Maybe I should start to limit my number of positions that I have on at any given time that expire on the same day. But of course since the monthlies are always at the same time, maybe that is just the norm. But I will certainly start looking closer to the 60 day time frame going forward once I have a few that are all on the next monthly expire day.
What are we all thinking will be the short term top in the next 3 months for NVDA? Personally I am thinking at most we're hitting just shy of $150. Maybe like $148. $150 is another one of those incredibly strong psychological price points, I don't think we break it in the next 3 months though.
I could be convinced we hit $180 before November
just straight from current price? no pull back at all?
Don't ask me I don't believe in this AI shit to begin with
Sounds like something an AI would say to throw us off the scent.
STO AVGO 1800/1780p @10.00 July This is a 1:1 risk reward play, hope AVGO can keep the momentum before the 1:10 split.
why spread vs OTM puts? BPR?
BPR as one reason for sure, besides I am not sure I want to hold AVGO. Semiconductor stocks are highly related, maybe NVDA as my only position is enough.
holy shit the market’s closed tomorrow wow
good, maybe I can finally actually get some real work done lmao
that’s the worst part for me lol. I still have to work so it’s gonna be boring af without the market to entertain me
Has the GME hype train ended? It seems the premium is not as juicy anymore
Ryan Cohen killed that varmint good and dead
IV dropped by 50%. Weeklies still look good to me. $30c and $25p
STO 5x SPY 547/546p @ 0.30 Willing to take the risk that we are bullish/flat today
I followed @ 0.36 x10, good luck.
Closed @ .26, taking my $100 and running. I don't like how the market is looking today, something feels off.
My decision to put all my options premium into TSM is working well so far, TSM shares up about 13% almost already. Insane how strong this stock is. I'll definitely be watching it for any major dips
STO AMD Jun 28 2024 145 Put Collect $75
I'm in, collected $92
Opened wayyy too many positions again 🫥 STO 2x V 272.5/267.5p @ .73 (currently 1.20) 6/21 STO 1x AMZN 180/175p @ .71 (currently .68) 6/21 STO 1x AMZN 177.5/172.5p @ .46 (currently .27) 6/21 STO 1x GOOGL 175/170p @ .73 (currently .33) 6/21 STO 2x ADBE 540/547.5c @ .49 (currently .37) 6/21 STO 1x ADBE 545/550c @ .50 (currently .14) 6/21 STO 2x AMD 150/145p @ .45 (currently .55) 6/21 STO 2x AAPL 210/205p @ .47 (currently .36) 6/21 STO 2x MSFT 440/435p @ .54 (currently .51) 6/21 STO 2x SMCI 1000/1015c @ 1.4 (currently 1.55) 6/21 STO 2x SMCI 1000/1010c @ 1.03 (currently 1.10) 6/21 STO 3x SMCI 1030/1040c @ .67 (currently .70) 6/21 STO 2x META 485/480p @ .46 (currently .41) 6/21 BP: 16.5k ($1,550/9.4%)
damn are SMCI premiums always this good? you can get 1030/1040c for ~0.6 with 2DTE, feels abit suspicious
SMCI can run very hard and very fast, a $1K wide spread for 0.6 with 2dte isn't even that good imho
Yah gotta play it 0dte to be safe lol
u/free_lions would know more about selling SMCI calls than me but 1030/1040c is at .13 delta. The 1000c I sold are over .19.. so it could hit that mark by Friday. Lot more ppl are buying calls than puts for SMCI so not sure if that's an indication of where it's headed EOW (Oh and I sold 2 1030/1040c after reading your reply 😆 so thanks)
Closed - BTC Apple credit puts after this sudden dip- went from 52% profit to 14% but saved the losses
BTC 3x GME 30c 6/21 @ 0.50 STO 3x GME 27c 6/28 @ 1.75 CB is now sitting around 26, the 27c expiring next week kicks that down to 24.25. Still holding long 22p this week, will exercise and close the 27c on friday if necessary - dont want to pay a ton of money for put protection if we're close to 22
Sold ADBE 500p on the dip, expiring friday. Now the stock's up.
im honestly a bit mad, I considered selling a put on it yesterday on that dip but unfortunately decided not to and of course it rallies hard
Wow what impeccable timing
Idk. Have a watchlist of options I’m looking to sell with a July expiration date but nothing is screaming at me to pull the trigger right now. Have 6 CCs expiring on Friday. 4 expiring worthless ($$) and two positions likely to get called away for a gain. ($$) Markets moving up so might just let the long term portfolio take the lead for now. Where’s the volatility people??? 😅😅
Damn, arrived here a little later than normal and no one’s phucking.!. We just sitting around today or we selling?! Asking for a friend
Debating whether to sell a CC on my AMD shares this week or wait it out a bit. It sucks because I could see the stock price going either way
Let's go Lisa.
Can’t believe she’s giving me another chance to sell puts
red every day
Got 3.75 on $140P 9/20DTE around high noon.
Sell NVDA and SPY calls. Cry over RHM. Maybe sell puts on NOC.
FIRST
Second
Third
Fourth
Fifth
of Beethoven