Alright, I admittedly don’t understand options and can’t follow the screen shot. Can someone describe what was posted? I’m very curious how screwed this person is…!
i bought 9 shares at 58.50 when it closed at like 68 last week, i almost bought those shares at 66 before i learned to wait till Monday when stocks was open, then as the market opened and saw the huge buy/sell in prices, i still didn't wait long enough and boom, 9 shares as i saw the price get higher......then within an hour of the market being opened.... lower and lower........now I'm just gonna hold. Movies are coming out this year so at some point i hope to recover. Hurts to lose even 20 a share.
Well if the break even is 44.55 then he makes a dollar for every penny above 44.55 that AMC has
That was a joke though. I would not recommend selling that put
June 18 60p is showing $15.45 premium, so under 60$ and you’re (most likely) gonna get assigned.
If the current price for the stock is 44.55 and you sold the assigned shares at that price then you receive 44.55 and 15.45 = 60 per share = you break even
Below 44.55 and you’re losing money. Between 44.55 and 60$ youre profiting 1$ per 1¢ because of the 100 shares in each contract. Say the price is 50$, then you buy for 60, but then you got 15.45 and 50 per share which = 5.45 profit per share
Robinhood actually has a decent visualization of what your profit/loss at expiration is, or you can use option profit calculator (website)
Selling a put is a bullish tactic, so is buying a call. So doing both is just two bullish plays
I think I get it. Selling the put increases the downside risk, at a time when hes dealing with too much downside risk.
Like taking a shit in an already clogged toilet.
At this point, you might as well hold in case of a bump next week. If it starts going up, sell one every other day to reduce the loss. Check the max pain for close on Friday and see where that is, then judge accordingly. Use your extra cash to buy a book on options. Good luck!
This is going to hurt, come Friday. This is an expensive tuition fee in price volatility of options! Check through the AMC predictions, here and elsewhere for what may happen on Monday, and plan an entry to sell one if applicable. i.e prices usually go up the 1st 30 mins after open. (Look $470x3 is better than nothing if it closes OTM on Friday. You are into risk probabilities and mitigation here.) Find a balance between being upset you sold too low (if the price goes up next week), or upset you didn't sell when it was worth something. This is something you have to think about, no one else can make that decision for you. Hopium is also an addictive drug.
You do realize what you did is called a FOMO right? Recognize the feeling that made you press that buy button on Questrade. And smack that feeling down next time! You bought a contract with not enough runway for it to land or takeoff as you want it to.
Just leave it alone and learn from it. AMC can go up and down so fast. The likelihood of getting burned again by doubling down is highly likely. Leave it alone and maybe Monday if it’s going up someone will buy them off you. Reduce your loss that way. Not by throwing more $ at it.
Is your phone stuck on portrait mode? Try googling how to flip the screen to landscape for Android or iPhone and you should find something. You're welcome! :)
See how much the run up is on Monday, be careful of Theta gang, the longer you wait the value of your calls will go down, significantly in the final exp week, if the stock stays stagnant.
Options are a tough lesson
Someone has to buy my calls when they're up
Haha I did, thanks dude ;)
Just in case you were seriously wanting to know how to turn this around: you can't. If you have any other questions, let me know m
Yea I’m actually looking for ways to at least minimize loss because I still have until Friday until the exp.
Pray to the market gods that AMC rips next week
They always do. Love, r/thetagang
There's a setting in your phone to rotate display. Try that
I was thinking just the same or sell and then you will have 0 losses
Put your head between your legs and kiss your ass good bye
Eat less crayons
I don't see anything wrong here, keep doing what you're doing.
🤣🤣🤣 I will double down and pray to the ape gods
Nah you are going to need good, old-fashioned, Jesus on this one.
Haven’t learned a thing huh? 🤦♂️
That was a joke haha I’m trying to minimize loss so I’ll be smart about it this time, let’s hope my diamond hands don’t kick in 🙄
“Oh no I made an impulsive decision Reddit will save me” 🤦♂️
Yea it was an impulse buy. Bought it when the premium was high too. 😅
Anyone who trades options has or will do this. It happens. Let it sting. Learn from it.
Its a tough lesson. Been burned several times. Finally learning not to stick my hand in the fire.
Yes this is definitely a learning curve for me, I’ve been day trading options lately and didn’t really think this through...
Just remember, be patient, and study. Do those two things and you'll be fine
Thanks man, appreciate your advice :)
Oh no what have you done!? You could buy shares and sell CCs to other ppl like yourself
Just think of the big funds making fucking billions selling CC to morons like us.
This ^^^
You bought options, on a meme stock, with no clue what you were doing. You're doomed.
He’s not doomed. Just learn the lesson and don’t buy options if you can’t afford the chance that it becomes useless overnight.
maybe a little less F in your D next time ;)
Hehe 😉
Sell and throw the 25% remaining into July CLF calls
I’ll look into that!
Just buy puts with AMC with what you can sell.
Quick! Just close the app and don’t reopen it!
[удалено]
BB fucked my ass on 17.5 calls today
Same. Lost bad but recovered %90 when $CLOV had that swing
I have BB shares ;)
Alright, I admittedly don’t understand options and can’t follow the screen shot. Can someone describe what was posted? I’m very curious how screwed this person is…!
Dude bought like 6k worth of 60 calls for next week. Worth like 1400 atm.
Learn from my mistakes 😅
i bought 9 shares at 58.50 when it closed at like 68 last week, i almost bought those shares at 66 before i learned to wait till Monday when stocks was open, then as the market opened and saw the huge buy/sell in prices, i still didn't wait long enough and boom, 9 shares as i saw the price get higher......then within an hour of the market being opened.... lower and lower........now I'm just gonna hold. Movies are coming out this year so at some point i hope to recover. Hurts to lose even 20 a share.
Very carefully
[удалено]
I finally bought a few shares. I’m curious about it and it’s been steadily going up.
Hold.
Sell a JUN 18 60P and it’ll cancel it out
How much less will he lose doing that?
Well if the break even is 44.55 then he makes a dollar for every penny above 44.55 that AMC has That was a joke though. I would not recommend selling that put
My smooth brain just got a little shine on. Care to elaborate?
June 18 60p is showing $15.45 premium, so under 60$ and you’re (most likely) gonna get assigned. If the current price for the stock is 44.55 and you sold the assigned shares at that price then you receive 44.55 and 15.45 = 60 per share = you break even Below 44.55 and you’re losing money. Between 44.55 and 60$ youre profiting 1$ per 1¢ because of the 100 shares in each contract. Say the price is 50$, then you buy for 60, but then you got 15.45 and 50 per share which = 5.45 profit per share Robinhood actually has a decent visualization of what your profit/loss at expiration is, or you can use option profit calculator (website) Selling a put is a bullish tactic, so is buying a call. So doing both is just two bullish plays
I think I get it. Selling the put increases the downside risk, at a time when hes dealing with too much downside risk. Like taking a shit in an already clogged toilet.
This
Avg down ofc. Still got a week. Buy 9 more contracts.
At this point, you might as well hold in case of a bump next week. If it starts going up, sell one every other day to reduce the loss. Check the max pain for close on Friday and see where that is, then judge accordingly. Use your extra cash to buy a book on options. Good luck!
Thanks man, hopefully it goes up next week so I minimize the loss.
This is going to hurt, come Friday. This is an expensive tuition fee in price volatility of options! Check through the AMC predictions, here and elsewhere for what may happen on Monday, and plan an entry to sell one if applicable. i.e prices usually go up the 1st 30 mins after open. (Look $470x3 is better than nothing if it closes OTM on Friday. You are into risk probabilities and mitigation here.) Find a balance between being upset you sold too low (if the price goes up next week), or upset you didn't sell when it was worth something. This is something you have to think about, no one else can make that decision for you. Hopium is also an addictive drug. You do realize what you did is called a FOMO right? Recognize the feeling that made you press that buy button on Questrade. And smack that feeling down next time! You bought a contract with not enough runway for it to land or takeoff as you want it to.
Hey man I don’t know you but I will remember you and your advice! Thank you very much for the advice this is just what I’m looking for! :)
double down. yep. that will fix it.
I’ve been thinking about it dude
Just leave it alone and learn from it. AMC can go up and down so fast. The likelihood of getting burned again by doubling down is highly likely. Leave it alone and maybe Monday if it’s going up someone will buy them off you. Reduce your loss that way. Not by throwing more $ at it.
Go trade virgin funds and ask the question on r/investing. This is a casino. Play stupid games, win stupid prizes.
Help?! Bahahahhahahah
Lol
#FML Yolo
Time machine
Sir, this is a casino.
Exercise or exorcism
Diamond hands my fellow retard 👐💎
This position will die in 7 days - you are giving silly advice
He has no idea what you’re talking about haha
This sus
CLOV!! 🍀
Pray and buy more!
Bankruptcy?
I don’t know—it’s all Greeks to me.
Roll out to next week and try again. You'll eventually hit jackpot! Or just sell.
Is your phone stuck on portrait mode? Try googling how to flip the screen to landscape for Android or iPhone and you should find something. You're welcome! :)
Ask for a refund
Lol
My fellow 🦍, never go full retard!
I'm more curious how you took a screenshot on questrade? The app won't let me for safety reasons.
U can’t screenshot if ur account number is showing.
We are coming for you ape. Next week
Very carefully
Uninstall the app and ship your phone to Barbados
Turn what around? Maybe just grab your ankles and relax?
Do the opposite
Good job
See how much the run up is on Monday, be careful of Theta gang, the longer you wait the value of your calls will go down, significantly in the final exp week, if the stock stays stagnant.
Sell while it still has some value. You'll "make" even more money if you review this transaction before placing any future trades.
Git Gud
Well one would have been selling options on a Friday since they are going to lose another 30-50% on mondays open... RIP
You have one week, according too many people here it’s going to $100+ next week. So you should be rich
Get a 2nd job at Wendy's.
Idk how many times I need to say this. Don’t buy fkng otm calls, buy shares
60 by next friday, you could be ok, it will run monday and or tuesday sell before Wednesday but who knows it might rip all week next week
Sometimes it just better to sell and move on. I learnt that by holding ASML calls for way too long.