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Forum » More General Categories » Education/Career/Finance » *Official* Options trading thread: Why Alpha/Beta when you can Theta?
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Thread: *Official* Options trading thread: Why Alpha/Beta when you can Theta?

post 1631593653 02-16-2021, 10:36 PM
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#301
  1. RobParks2M
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Originally Posted By NoScrubz⏩
Das it mane!

Das it meng!! I paper handed those fukers unfortunately! Way to hold through though!
Originally Posted By LCBOLeo⏩
Almost the entire market is down, a lot of ppl are losing money... can’t be saying chit like this, ur aiming at 80% of the thread.
wtf you talking about. Markets are still near ATHs.
Fitness connoisseur
0.4 mg of party's over wake the FK up!
"the personification of greatness"
post 1631593983 02-16-2021, 10:44 PM
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#302
  1. Harry362
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Affirm dipped a little further than I thought. It would. My put is $500 underwater atm. Expiration isn’t till May but u kind of want assignment will be cost basis 98.40/share

Great time to sell some puts on this fintech company

Looking getting back in Pltr but I’m waiting for the lockup exp
post 1631594053 02-16-2021, 10:45 PM
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#303
  1. LCBOLeo
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Originally Posted By chino3⏩
Aiming at 80% of THIS thread? Doubtful.

https://imgur.com/a/vKOoRtq
Congrats, I’m happy for u srs

Can u finally stop trynna bully a 19 year old over the internet now?
post 1631594113 02-16-2021, 10:45 PM
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#304
  1. wrastler163
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Originally Posted By Carbonfibre⏩
At least you were not in the other thread.


Where cocky pos was telling everyone should have 75% of their portfolio in PLTR.

Started posting wsb links.

Cocky pos that think they know market needs to get their shiit pushed in.
Sad I used to really enjoy that thread. Now it seems to be an extension of WSB’s. Guess we still have this and the Spac thread tho.
post 1631594293 02-16-2021, 10:48 PM
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#305
  1. RobParks2M
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Originally Posted By LCBOLeo⏩
Congrats, I’m happy for u srs

Can u finally stop trynna bully a 19 year old over the internet now?
Chill out mayne. Sorry you are getting hit by PLTR earnings, but it'll bounce. You got a lot of shares right? Potentially consider selling calls against them before lock up expires.

@wrastler yeah kinda sucks everyone in there shilling penny stocks or other odds and ends. I liked it better when it was all about TSLA tbh.
Fitness connoisseur
0.4 mg of party's over wake the FK up!
"the personification of greatness"
post 1631594333 02-16-2021, 10:48 PM
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#306
  1. LCBOLeo
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Originally Posted By hiyooo⏩
Market is not down.

You're still young. If you actually want to be succesful, you have to have thick skin because this stuff happens all the time. Every single pump and dump, people lose money. Buying options = you lose money 80% of the time. Selling options is safer but more advanced. Shares you are supposed to hold like a boomer. If you decide to day trade or swing trade, you have to accept the volatility and risks involved.

Never invest money that you can't afford to lose, that's why most investors get irritated when people complain about their losses. Look at the recent fiasco with GME. People with GoFundMe "help lost all life savings", literally no one cares. Do you care? Are you gonna donate to those people? Just proved my point. They decided to gamble their life savings away because of greed. People have to take responsibilities for their own actions, zero sympathy from me. If it was so easy, everyone would be rich already.

You know why I am saying this? Not to belittle you but help you understand and eventually become a good investor.
Appreciated
post 1631595003 02-16-2021, 10:57 PM
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#307
  1. LCBOLeo
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Originally Posted By RobParks2M⏩
Chill out mayne. Sorry you are getting hit by PLTR earnings, but it'll bounce. You got a lot of shares right? Potentially consider selling calls against them before lock up expires.
I’m chill bro fr, will look into selling calls, appreciate ur reply srs.
post 1631595273 02-16-2021, 11:00 PM
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#308
  1. RobParks2M
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Originally Posted By LCBOLeo⏩
I’m chill bro fr, will look into selling calls, appreciate ur reply srs.
NP bruh- its the best way to make the most of a bad situation
Fitness connoisseur
0.4 mg of party's over wake the FK up!
"the personification of greatness"
post 1631595903 02-16-2021, 11:10 PM
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#309
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Originally Posted By chino3⏩
Lol wtf?! What is with the island of misfit toys coming here? Don’t you guys want to stick together and pretend you have the slightest fukking clue what you’re talking about, while giving out chit tier advice?

Aiming at 80% of THIS thread? Doubtful.


https://imgur.com/a/vKOoRtq
Yeah, barely down. I diversify my plays quite a bit these days and buy pretty long term options so theta doesn't burn immediately...also some newbies might've learned a lesson in IV crush.

Anyway, think I'm about to go boomer route and stick with shares. One I've been looking at is FNGU. Fukin tickers I've been trading have been sideways. How many weeks out do you typically sell puts? Like I mentioned before, looking at opening some positions on red days.
Originally Posted By LCBOLeo⏩
I’m chill bro fr, will look into selling calls, appreciate ur reply srs.
At your age *******, unless you can stomach losing money you don't need, you're better off buying shares. Have a portion for gambles (maybe volume and meme stock plays). Playing regular options in this sideways market will just fuk you. Selling calls will reduce your cost basis, if you keep doing it, might even breakeven like chino did with RKT.
post 1631596633 02-16-2021, 11:24 PM
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#310
  1. Harry362
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The PLTR drop is really nice, take advantage.

3/19 26p about $300 each. I’m gonna wait for lockup but getting back in Pltr for around 23 would be pretty good
post 1631596783 02-16-2021, 11:26 PM
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#311
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Speaking of RKT, I bought it today for the sole purpose of selling calls since it moves sideways while still having decent premiums. I remember chino having success with it, and I figure it's a decent strategy since any big drop seems unlikely from here. I'm also neutral about the stock, so I'm fine with any potential "cap" to my gains and my shares getting called away.

I'm mostly in growth stocks, so this seems like a good way to get some consistent and stable "income" into my account.

That said, I'm new to theta gang, so any of you feel free to tell me this is a dumb plan.
Originally Posted By Harry362⏩
The PLTR drop is really nice, take advantage.

3/19 26p about $300 each. I’m gonna wait for lockup but getting back in Pltr for around 23 would be pretty good
Cathie Wood is already buying up shares, so it might not drop much further from here. Could just be my bias though since I don't want it to drop much further from 26.
post 1631598163 02-16-2021, 11:53 PM
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#312
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Originally Posted By MediocreGains⏩
Speaking of RKT, I bought it today for the sole purpose of selling calls since it moves sideways while still having decent premiums. I remember chino having success with it, and I figure it's a decent strategy since any big drop seems unlikely from here. I'm also neutral about the stock, so I'm fine with any potential "cap" to my gains and my shares getting called away.

I'm mostly in growth stocks, so this seems like a good way to get some consistent and stable "income" into my account.

That said, I'm new to theta gang, so any of you feel free to tell me this is a dumb plan.



Cathie Wood is already buying up shares, so it might not drop much further from here. Could just be my bias though since I don't want it to drop much further from 26.
Why did you buy Rkt instead of selling puts? Could have sold 3/19 20p for $1.85 each so your cost basis would be $18,15 if assigned. Not a dumb plan to buy and sell calls but it’s better to sell a put first IMO. I’ve a fukton of puts out right now

Selling the put gives you the option to roll forward too. It’s a game of patience if you are Underwater and don’t want assignment roll forward 2 months for a higher premium and lower strike. You could ride the stock all the way down if it happens
post 1631598373 02-16-2021, 11:59 PM
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#313
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Originally Posted By Harry362⏩
Why did you buy Rkt instead of selling puts? Could have sold 3/19 20p for $1.85 each so your cost basis would be $18,15 if assigned. Not a dumb plan to buy and sell calls but it’s better to sell a put first IMO. I’ve a fukton of puts out right now

Selling the put gives you the option to roll forward too. It’s a game of patience if you are Underwater and don’t want assignment roll forward 2 months for a higher premium and lower strike. You could ride the stock all the way down if it happens
Good point on that. Really just a lack of patience on my part. Don't have any experience selling calls, so I wanted to try it out right away instead of waiting to get assigned. Will be more patient next time though.
post 1631598453 02-17-2021, 12:00 AM
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#314
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Originally Posted By MediocreGains⏩
Good point on that. Really just a lack of patience on my part. Don't have any experience selling calls, so I wanted to try it out right away instead of waiting to get assigned. Will be more patience next time though.
Could've sold the 2/19 puts actually near or ITM. Typically this can be a good play if the IV is high.
post 1631610053 02-17-2021, 06:28 AM
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#315
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Thinking of opening one or a few Tesla put credit spreads, and also might sell some rkt puts.
post 1631611973 02-17-2021, 07:05 AM
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#316
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Tesla pullback is happening it seems.


Those bizarre deep OTM puts never stopped.


There doesn't seem to be much resistance below $750.


It could go even further down if it breaks that wall.
post 1631616163 02-17-2021, 08:15 AM
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#317
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I try not to buy naked options, but with RIOT at $70 that ****ing stock needs a pull back. I feel like even a modest pullback in Bitcoin will destroy it. I may buy some puts

Also sold a $31 call on pltr expiring Friday for literally 1.06 lol cost basis of like 29
post 1631618793 02-17-2021, 08:56 AM
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#318
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Originally Posted By LCBOLeo⏩
Congrats, I’m happy for u srs

Can u finally stop trynna bully a 19 year old over the internet now?


Originally Posted By SolidPaul⏩
Yeah, barely down. I diversify my plays quite a bit these days and buy pretty long term options so theta doesn't burn immediately...also some newbies might've learned a lesson in IV crush.

Anyway,think I'm about to go boomer route and stick with shares. One I've been looking at is FNGU. Fukin tickers I've been trading have been sideways. How many weeks out do you typically sell puts? Like I mentioned before, looking at opening some positions on red days.
As pictured in part of my portfolio a few posts up, I was actually looking to add all the ARK funds so I sold what I thought were aggressive puts. At least I'm getting money lol
Originally Posted By MediocreGains⏩
Speaking of RKT, I bought it today for the sole purpose of selling calls since it moves sideways while still having decent premiums. I remember chino having success with it, and I figure it's a decent strategy since any big drop seems unlikely from here. I'm also neutral about the stock, so I'm fine with any potential "cap" to my gains and my shares getting called away.

I'm mostly in growth stocks, so this seems like a good way to get some consistent and stable "income" into my account.

That said, I'm new to theta gang, so any of you feel free to tell me this is a dumb plan.
Originally Posted By SolidPaul⏩
Could've sold the 2/19 puts actually near or ITM. Typically this can be a good play if the IV is high.
Yeah selling puts is usually the entry point to wheeling, that said it's not a horrible idea to just jump straight in if you feel comfortable with the price and the premiums at the calls you are going to write. Keep us posted with the plays you make. I have 2/19 and 3/19 csp in my trading, and 2/19 csp in my IRA.
Originally Posted By Carbonfibre⏩
Tesla pullback is happening it seems.
Those bizarre deep OTM puts never stopped.
There doesn't seem to be much resistance below $750.
It could go even further down if it breaks that wall.
It definitely isn't pretty, but they have a lot on the calendar through the end of March that could very easily lead to strong bumps. That said, at this rate I am getting assigned at a cost basis of $800 on 200 shares smh. But its a great stock to wheel.
"It won't get better, just different."
post 1631618803 02-17-2021, 08:56 AM
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#319
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Originally Posted By Camecha⏩
I try not to buy naked options, but with RIOT at $70 that ****ing stock needs a pull back. I feel like even a modest pullback in Bitcoin will destroy it. I may buy some puts
As long crypto is rising.

Will be hard for RIOT to correct. Looks like EBON is getting piled into as well.


Unreal RIOT was $5 stock 3 months ago.


It has gone up harder than BTC itself.
post 1631626933 02-17-2021, 10:38 AM
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#320
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Originally Posted By Camecha⏩
Thinking of opening one or a few Tesla put credit spreads, and also might sell some rkt puts.
TSLA pullback the last week and a half. Probably not the best time to be bullish right now, no need to fight momentum.
500/295/530

.,
post 1631628913 02-17-2021, 11:07 AM
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#321
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Just sold a $105 arkg put for 2/19, got 1.15. Slightly worried about it but honestly if I get 100 shares at 103.85 then thats not so bad unless we are literally headed into a recession
post 1631634723 02-17-2021, 12:18 PM
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#322
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STO:
PLTR
2/19
$29 @ $1.5 x20

This may very well dip further upon lockup ending, but it was over sold, and we had Cathie talking about it being a long term play for them. Weeklies still have decent premiums, so worst case I just wheel

Also
TSLA
2/19
Strangle:
$800cc/$800csp x2
$6.5 / $16.99
"It won't get better, just different."
post 1631640863 02-17-2021, 01:37 PM
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#323
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I cannot believe how hard RIOT is going up.

Gonna put it in watchlist.

As soon crypto market does any correction.

RIOT will fall back.

IV is 250
post 1631645433 02-17-2021, 02:32 PM
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#324
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picked up some appl and amd march calls. They're dirt cheap atm.
post 1631646353 02-17-2021, 02:44 PM
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#325
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Really ugly close on PLTR. Unless there's a reversal tomorrow (doubtful considering the lockup ending), good chance that I'm going to get assigned on Friday.
post 1631647573 02-17-2021, 02:56 PM
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#326
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Originally Posted By MediocreGains⏩
Really ugly close on PLTR. Unless there's a reversal tomorrow (doubtful considering the lockup ending), good chance that I'm going to get assigned on Friday.
We can start a support group brah. I guess the next move is figuring out if I want to sell weeklies or just go for 3/19...
"It won't get better, just different."
post 1631648093 02-17-2021, 03:01 PM
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#327
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Originally Posted By MediocreGains⏩
Really ugly close on PLTR. Unless there's a reversal tomorrow (doubtful considering the lockup ending), good chance that I'm going to get assigned on Friday.
Its probably going to be assigned. Might be a good idea to buy it back before it does. As soon as I saw WSB going into PLTR i knew it was going to crash. Gonna wait untill the end of the lockout and then buy some calls.
post 1631655013 02-17-2021, 04:28 PM
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#328
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Really ugly looking week but most important to me is not to force trades, which Ive been guilty of in the past.

Tuesdays STO
AAPL Mar12 141C
PLTR Mar12 37C x5
SYK Jun18 270C
TSLA Feb19 850C x2

Total credit $2300

Finally got approval to trade in my retirement account. Will trade very conservatively at roughly 20 Delta for now just to get my feet wet.
STO
TSLA Feb19 875C
PEP Mar12 140C
PLTR Mar12 40C
CL Mar 12 80C

Total credit $500
post 1631685563 02-17-2021, 11:07 PM
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#329
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Just got my tax forms. Mirin gains boyos?

(actually ended up losing almost all of it, but this speaks to my options trading experience)

https://imgur.com/a/ykKG1iO

post 1631697993 02-18-2021, 05:03 AM
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#330
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Originally Posted By SolidPaul⏩
Just got my tax forms. Mirin gains boyos?

(actually ended up losing almost all of it, but this speaks to my options trading experience)

https://imgur.com/a/ykKG1iO

That’s solid, Paul.

What do you mean you ended up losing almost all of it???
"It won't get better, just different."
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