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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 1630365283 02-02-2021, 01:35 PM
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#121
  1. thatsnarf
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  1. thatsnarf
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Originally Posted By Heaney⏩
To be on the safe side I increased my RRSP contribution to 20% of my gross pay this year, best case I get an absolute banger of a refund back and worst case I break even if somehow I've been reading Canada's investing laws incorrectly.
not sure how you guys do it in canada but best thing that could happen is breaking even. you're only just getting back your free loan to the gubment if that's the case.
post 1630368043 02-02-2021, 02:08 PM
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#122
  1. chalup
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  1. chalup
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Originally Posted By dopamine72⏩
lol @ new thread title, no options playing for me and I'm up 25k + in 4 months. Long term holding FTMFW!!!!! Well....4 months isn't long and I know this is pennies to some of you ballers but u know...would have retired by now if I started with only 100k a decade ago. Keep grinding bros!!!!!! No force trading!




My Cali bruh what about all the write-offs you can do with stonks, property, work related costs etc... PM me! Almost inclined to give you my number. I got a 7k property tax write-off that's gonna go right back into investing and the house.
This if you own a house you can write off mortage, anything work related, equipment, etc. Can atleast half it. Can you brahs dumb down calls and puts for me. Take AMC for instance, next weeks calls and puts are low AF. Calls at 1.80-3.10, puts at .94 to .29. So say I buy a put .94-95 at its price now. im basically betting the price will fall to that level by the exp of that week? what if it lands at like 1.50? Same with a call, lets say i buy the 5block 3.10-3.20 and the price stays at 7-10 by exp date. How am I making money on those? I understand the basics, but actually ordering it through etrade or td ameritrade is confusing me.
post 1630368393 02-02-2021, 02:12 PM
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#123
  1. Heaney
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Originally Posted By thatsnarf⏩
not sure how you guys do it in canada but best thing that could happen is breaking even. you're only just getting back your free loan to the gubment if that's the case.
I'm making interest on that money in my rrsp, I'm not paying extra taxes I'm contributing more to a tax sheltered account.
post 1630369793 02-02-2021, 02:27 PM
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#124
  1. chino3
  1. chino3
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Originally Posted By dopamine72⏩
lMy Cali bruh what about all the write-offs you can do with stonks, property, work related costs etc... PM me! Almost inclined to give you my number. I got a 7k property tax write-off that's gonna go right back into investing and the house.
I'll shoot you a pm tonight for sure! I don't think there's any hope for me this year tbh. Problem is almost all financial/tax benefits I get from own property is superseded by my rental gains. The most fukked up part about that is that they don't calculate your net profit, they calculate the entire rental amount... So over $24k in rental income just washes out all those benefits.
"It won't get better, just different."
post 1630370693 02-02-2021, 02:35 PM
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#125
  1. chino3
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Originally Posted By hiyooo⏩
you aren't the only one. let's just say so far in 2021 i will be paying way more than $30k.... fml... gotta talk to my accountant
nice brah. and yeah, feels already...


Also, have a call with my accountant to go over a potential saving grace today. Looking into "mark to market" status, and will report back.
"It won't get better, just different."
post 1630371703 02-02-2021, 02:46 PM
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#126
  1. Destor
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Yeah 2020 will be an interesting tax year

I incorporated a company about halfway through 2020 and began working as a consultant, so I haven’t paid any tax since then. And I’m sitting on about $5k in GST that will need to go to the government

Tax bill on top of the GST will likely be $30k but I also contributed $40k to my RRSP. Not even sure how it’ll all math out on the end.


Edit: Wtf thought this was the trading thread
post 1630372883 02-02-2021, 03:00 PM
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#127
  1. chino3
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Originally Posted By Destor⏩
Edit: Wtf thought this was the trading thread
"It won't get better, just different."
post 1630373043 02-02-2021, 03:03 PM
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#128
  1. Destor
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[QUOTE=chino3 post_id=1630372883][img]https://www.memesmonkey.com/images/memesmonkey/d4/d4befd8676885d1f0a1089018b82cda4.jpeg[/QUOTE][img]https://media.giphy.com/media/jUwpNzg9IcyrK/giphy.gif[/img]
post 1630432403 02-03-2021, 08:42 AM
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#129
  1. RobParks2M
  2. mad hatter
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Great CSP opportunity alert!

CSP on APXT (avepoint) 3/19 strike 15 for $2.10

If you actually get shares at $13 you got yourself one hellofa deal. Imo it would take a lot for them to go under 15. IV 130 currently
Fitness connoisseur
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post 1630437913 02-03-2021, 09:48 AM
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#130
  1. chino3
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Originally Posted By chino3⏩
My TSLA strangle lookin pretty hnnngggg

TSLA
2/5
$850csp@ $45.592 x2
$900cc@ $7.593 x2

Spoiler!


Friday it was looking like I was getting assigned, and I almost set up aggressive CC's each week, in advance. Glad I didn't overreact and just chilled. It's only Tuesday, so who know what will happen. If I can close out at $8k prior to expiration, I will do it immediately.

EDIT: Update: Closing out the CSP leg with a $7.2k profit. Going to monitor the CC closely this week. Worst case scenario, I double down and buy shares on Friday to cover the calls.
This trade is fully closed. Obviously full potential profit not realized, but would like to continue to practice discipline, plus still not entirely comfortable with the market.

Max Potential profit was $10.6k
Closed at for $8k for 75% profit.

I have another strangle set for 3/19 as well, $900cc/$850csp,
The CSP is currently +20%. I might close that out if I can open a $900csp at my desired premium.
"It won't get better, just different."
post 1630439563 02-03-2021, 10:09 AM
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#131
  1. Camecha
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  1. Camecha
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First time I sold an ITM CSP $109 2/19 on ARKG for 5.4

Gonna close my CSP on CRSR if it hits 50% profit before the 8th, then sell another on the 8th before earnings
post 1630439573 02-03-2021, 10:09 AM
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#132
  1. ReyDelMundo
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  1. ReyDelMundo
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Going heavy on 2/19 $35 PLTR calls. Earnings morning of 2/16. Btw, I don't follow these often, but I've never seen an annual earnings call scheduled for 8 am EST? I know there aren't many analysts on the west coast, but lol at 5 am time for them.

Pray for me bros. If this hits hard I'm upgrading my main residence, srs.
post 1630440303 02-03-2021, 10:18 AM
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#133
  1. chino3
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Originally Posted By ReyDelMundo⏩
Going heavy on 2/19 $35 PLTR calls. Earnings morning of 2/16. Btw, I don't follow these often, but I've never seen an annual earnings call scheduled for 8 am EST? I know there aren't many analysts on the west coast, but lol at 5 am time for them.

Pray for me bros. If this hits hard I'm upgrading my main residence, srs.
earnings are either before or after the bell. isnormal
"It won't get better, just different."
post 1630449133 02-03-2021, 12:01 PM
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#134
  1. chino3
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Modified my strangle for TSLA 3/19. Closed one leg out for +$4k. Still have 2 sets of CC's that I opened at a much lower level, so very upside down in. Added a higher strike leg for "insurance" combined with my existing shares. Current configuration:


TSLA
3/19
$900cc @ $22.99 premium x2
$1000cc @ $22.94 premium x2
$900csp @ $100 premium x2

OPC for reference: http://opcalc.com/nuf

Max profit potential is $29k @ $900 expiry price.
I am going to be fairly conservative with this one, at least that's the plan for now, and will most likely aim to close at 50%.
"It won't get better, just different."
post 1630470903 02-03-2021, 04:37 PM
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#135
  1. mikebadg3
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Bought 10 2/19 $10 calls on VXRT today after it got pummeled down to 12

Then it got pummeled down to whatever it is now.

High IV

Went in thinking i might be able to catch a rebound to 15 or 20 from the yuge selloff


Does VXRT stand a chance to rebound so i can sell it off between now and expiration?
post 1630490293 02-03-2021, 08:57 PM
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#136
  1. usersignup2
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Originally Posted By chino3⏩
This trade is fully closed. Obviously full potential profit not realized, but would like to continue to practice discipline, plus still not entirely comfortable with the market.

Max Potential profit was $10.6k
Closed at for $8k for 75% profit.
Nicely done.
post 1630492013 02-03-2021, 09:25 PM
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#137
  1. roughinhouse
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got murdered on a gme put. Bought it today and crashed by over half its value with 5 minutes. $70 strike price.
post 1630515433 02-04-2021, 07:45 AM
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#138
  1. greenleaf
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Sold QCOM Feb 5 149 put to open. Looking to own the stock cheaper for a trade.
post 1630517093 02-04-2021, 08:10 AM
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#139
  1. Carbonfibre
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  1. Carbonfibre
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Originally Posted By Carbonfibre⏩
Got those apple calls early this morning.

50 @ $1.01 2/26 150$C



AMD kinda leaps 4/16 $100C still at $4.1 Was down early in morning bit when AMD was $85.
Those apple calls are not doing so well sighh.

Kinda phucked this up.

Even that apple / kia rumor pop from yesterday didn't do much.


That 150$C is now 0.65 was $1.01 when I bought.

Think I am gonna cut my loss here and just move on.




AMD calls are down to $3.4 as well.

Will keep AMD for one more week.



I was reading yesterday that February is not exactly bullish month historically.

So maybe cooling off bit from any buying is not bad idea.
post 1630517333 02-04-2021, 08:14 AM
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#140
  1. chino3
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Closed out my CCIV spread this morning for a 1k profit. I have a feeling I’ll regret it but at the same time I’d rather not have those funds a) tied up, b) have nothing to show for if nothing happens in the next two weeks.

Opened a TSLA CSP 2/12 @ $810 for $15
"It won't get better, just different."
post 1630519953 02-04-2021, 08:54 AM
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#141
  1. Harry362
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thoughts on SNAP? Earnings are today AH.

Its at $58 right now, puts for tomorrow 52 sell for $160 each


edit:

Ended up doing 4x 53p for tomorrow for $160 each, has to drop under $51.40 from $59 after earnings release. Hasnt been under 49 in awhile
post 1630520543 02-04-2021, 09:03 AM
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#142
  1. Carbonfibre
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Originally Posted By Harry362⏩
thoughts on SNAP? Earnings are today AH.

Its at $58 right now, puts for tomorrow 52 sell for $160 each


edit:

Ended up doing 4x 53p for tomorrow for $160 each, has to drop under $51.40 from $59 after earnings release. Hasnt been under 49 in awhile
Not sure.

Last earnings snap beat earnings big and went up 30%.

Looking at expected earnings for today implied move is only +/- 10.

Possible it doesn't move much this time around.



I was interested in PINS but very expensive to play.
post 1630521343 02-04-2021, 09:14 AM
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#143
  1. SpeedCheeser
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Originally Posted By chino3⏩
Closed out my CCIV spread this morning for a 1k profit. I have a feeling I’ll regret it but at the same time I’d rather not have those funds a) tied up, b) have nothing to show for if nothing happens in the next two weeks.

Opened a TSLA CSP 2/12 @ $810 for $15
Damn, dude, you really out here throwing $81k into a single position? I hope you score big on it.

edit: you're on margin aren't you? So that put isn't really cash secured, right?

Regarding profit taking, just my opinion, but it's always better to to take a guaranteed profit than to lose it all trying for more. I usually only target around 50% of max with most plays, less sometimes if they're really aggressive. You basically have to hold until expiration to get max, and things can just get more volatile around expiration, and it's a longer duration giving more time for things to go wrong.
Originally Posted By Harry362⏩
thoughts on SNAP? Earnings are today AH.

Its at $58 right now, puts for tomorrow 52 sell for $160 each


edit:

Ended up doing 4x 53p for tomorrow for $160 each, has to drop under $51.40 from $59 after earnings release. Hasnt been under 49 in awhile
IV is decent, good probability of success. If you're neutral - slightly bullish on SNAP it's not a bad trade.
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post 1630521563 02-04-2021, 09:17 AM
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#144
  1. Camecha
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Originally Posted By Harry362⏩
thoughts on SNAP? Earnings are today AH.

Its at $58 right now, puts for tomorrow 52 sell for $160 each


edit:

Ended up doing 4x 53p for tomorrow for $160 each, has to drop under $51.40 from $59 after earnings release. Hasnt been under 49 in awhile
Just copied your play boyo

I love earnings plays
post 1630523233 02-04-2021, 09:41 AM
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#145
  1. chino3
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Originally Posted By SpeedCheeser⏩
Damn, dude, you really out here throwing $81k into a single position? I hope you score big on it.

edit: you're on margin aren't you? So that put isn't really cash secured, right?

.
Actually 2 puts, so twice as much smh. That said, the support its shown, even after earnings and market volatility, is reassuring enough to make quick plays like this. Really, I am somewhat looking at wheeling strategies with this.

And I am on Portfolio Margin, which has been a game changer. You are correct, not technically a CSP, but use the term to make things a little more clear for everyone (open to other ways to write it). FWIW, I am sitting on more than enough cash to cover that play.
Originally Posted By SpeedCheeser⏩
Regarding profit taking, just my opinion, but it's always better to to take a guaranteed profit than to lose it all trying for more. I usually only target around 50% of max with most plays, less sometimes if they're really aggressive. You basically have to hold until expiration to get max, and things can just get more volatile around expiration, and it's a longer duration giving more time for things to go wrong.

.
Totally agree. Wit the CCIV spread, my max potential was $22k, with a max exposure of $3k. With the clock ticking, I started feeling anxious and like this was more akin to gambling, and I didn't like that, so got out. I can't allow myself to go down that path or to get to the point where all of this just becomes "numbers on the screen, so what's 3k?" ya know?
"It won't get better, just different."
post 1630524823 02-04-2021, 10:00 AM
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#146
  1. Harry362
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Trying to open 25x 3/5 NOK $4 CSP for $20 each. Before the WSB shenanigans NOK was stable at $4 forever
post 1630525023 02-04-2021, 10:04 AM
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#147
  1. Heaney
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Originally Posted By chino3⏩
Actually 2 puts, so twice as much smh. That said, the support its shown, even after earnings and market volatility, is reassuring enough to make quick plays like this. Really, I am somewhat looking at wheeling strategies with this.

And I am on Portfolio Margin, which has been a game changer. You are correct, not technically a CSP, but use the term to make things a little more clear for everyone (open to other ways to write it). FWIW, I am sitting on more than enough cash to cover that play.



Totally agree. Wit the CCIV spread, my max potential was $22k, with a max exposure of $3k. With the clock ticking, I started feeling anxious and like this was more akin to gambling, and I didn't like that, so got out. I can't allow myself to go down that path or to get to the point where all of this just becomes "numbers on the screen, so what's 3k?" ya know?
Fuk me your new display pic is taking me a while to get used to.
post 1630525793 02-04-2021, 10:13 AM
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#148
  1. Harry362
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going back to thetagang feels good

What puts are there to sell? Have NOK SNAP CRSR now. On hold with fidelity trying to get portfolio margin then dasitmane
post 1630528313 02-04-2021, 10:41 AM
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#149
  1. chino3
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Originally Posted By Harry362⏩
going back to thetagang feels good

What puts are there to sell? Have NOK SNAP CRSR now. On hold with fidelity trying to get portfolio margin then dasitmane
Current CSP farm

ARK (F-W) 2/19 - Not so much about the premiums, but entry points I would actually be chill with getting in at and holding. Otherwise theta farming
LULU 2/19
LULU 3/19
RKT 2/19
RKT 3/19
TSLA 2/12
TSLA 3/19

I don't think I will open any more until either all my 2/19's are at 70%, or until they close altogether. Maybe PLTR if it dips.
"It won't get better, just different."
post 1630528383 02-04-2021, 10:42 AM
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#150
  1. chino3
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Originally Posted By Heaney⏩
Fuk me your new display pic is taking me a while to get used to.
I love my absolute dump truck and how polarizing it is (see below, first & last comments), but I guess time to move on lol, especially when the wife comments that its gay even for a bodybuilding website

"It won't get better, just different."
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