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Forum » *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 1636391453 04-16-2021, 07:54 PM
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#691
  1. Travis99
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Originally Posted By chino3⏩
Positions? Feel free to PM if you don’t want to put all your info out there.
I’ll do that when I can get on my computer. I appreciate it bro.
There is no they…
post 1636588663 04-19-2021, 01:49 PM
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#692
  1. usersignup2
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STO
TSLA Apr23 610P
TSLA Apr23 795C x2

Looking to net just over $1200 this week from these two plays.

Still holding Apr23 740CC x2 from last week.
post 1636599943 04-19-2021, 04:19 PM
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#693
  1. chino3
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Originally Posted By usersignup2⏩
STO
TSLA Apr23 610P
TSLA Apr23 795C x2

Looking to net just over $1200 this week from these two plays.

Still holding Apr23 740CC x2 from last week.
good chit brah, repped. True diamond hands with that $740cc!

It doesn't look like I will be doing anything this week if today was any indication of what we can expect lol. Actually, looking at naked calls for TSLA:
6/18
$900 @ $20 x4

I currently have 4 PMCC's for 5/21 @ $925 @ $9.23 that should be completely safe, and then those June calls won't be naked.

Tempted to sell an end of the year CC on PLTR for $30, and just not look at it until then (wish there was a HIDE STOCK feature). Gonna try to be chill until earnings I guess.
"It won't get better, just different."
post 1636608823 04-19-2021, 06:32 PM
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#694
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Originally Posted By chino3⏩
good chit brah, repped. True diamond hands with that $740cc!

It doesn't look like I will be doing anything this week if today was any indication of what we can expect lol. Actually, looking at naked calls for TSLA:
6/18
$900 @ $20 x4

I currently have 4 PMCC's for 5/21 @ $925 @ $9.23 that should be completely safe, and then those June calls won't be naked.

Tempted to sell an end of the year CC on PLTR for $30, and just not look at it until then (wish there was a HIDE STOCK feature). Gonna try to be chill until earnings I guess.
Thanks, chino. Combination of luck, looking at charts but mostly rethinking how I view exit strategies. No matter what, youve got to have a plan should things go sideways. I was fully expecting to roll up and out. As it turns out, it was deep ITM for only a short period of time.

6/18 $900 are close to 20 Delta but too much risk for my blood with naked calls. Lol. GL.
post 1636612973 04-19-2021, 07:45 PM
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#695
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Very true. I definitely acted prematurely last week, but in hindsight it worked out pretty well, for most of the plays I had active. Others,.... could’ve been better lol.

As for my calls, I feel really confident with the May calls (5/21 @ $925) not hitting or at least maintaining, so I feel comfortable setting up the “temporarily naked” calls for June. I really really hope it hits $900 in June, because that will be a six figure gain on my LEAPs. Then it’s just a matter of deciding to close out or rolling and hoping for more... But greed can be a real mother fukker so probably close out
"It won't get better, just different."
post 1636667543 04-20-2021, 01:11 PM
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#696
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Decided to load up on RKT LEAPs to do PMCC with, as long as the premium is this good.

BTO
RKT
1/21/22
$23.89 @ $3.3 x100

STO
RKT
5/21/21
$24 @ $.75 x100

2 ways this plays out, and either I am fine with:

- Doesn't hit, I collect $7600 in premiums which is a 23% ROI, and move on to the next month
- It hits, 99% chance I close out, as it will deliver $17.2k in gains, or a 67% ROI. Only way I roll out is if we see another unique event that makes it moon (which I doubt tbh)
"It won't get better, just different."
post 1636915453 04-23-2021, 11:11 AM
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#697
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Really really trying to determine is LEAPs on COIN would be worth it. Just so much uncertainty with crypto, it makes it difficult to understand how it might move.
"It won't get better, just different."
post 1637120723 04-26-2021, 08:56 AM
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#698
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STO
TSLA Apr30 650P

Will wait to see how market reacts to TSLA after hours earnings before selling calls this week.

All of last weeks plays expired worthless. Looking for two back to back days above 720 before it can run IMO.
post 1637121003 04-26-2021, 09:00 AM
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#699
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BTO
RKT
1/2023
$13.89c

Adding to my PMCC stock pile

STO
RKT
5/7
$25
"It won't get better, just different."
post 1637241413 04-27-2021, 06:59 PM
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#700
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Originally Posted By chino3⏩
I currently have 4 PMCC's for 5/21 @ $925 @ $9.23 that should be completely safe, and then those June calls won't be naked.
Closed out for $1. Prefer the peace of mind of just closing, and waiting for the rebound and maybe even go back into the same position if it gets to $4-5.

The June calls are currently up 30% even after this drop. Once I get to 80%, I will close, open one set for July, and when that gets to a similar position I'm going to set one final set for December, fairly aggressive ($920) so the premium will be juicy, and if it hits, my LEAP will hit 100%. hnnnnggggg

This is what I hate about options, I find myself wanting to hit fast forward on life lol
"It won't get better, just different."
post 1637246153 04-27-2021, 08:07 PM
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#701
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Selling calls seems like the main way to make easy money but unfortunately you need a **** ton of capital. Selling something like TSLA $900 every week seems like free money.
post 1637247783 04-27-2021, 08:35 PM
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#702
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Originally Posted By roughinhouse⏩
Selling calls seems like the main way to make easy money but unfortunately you need a **** ton of capital. Selling something like TSLA $900 every week seems like free money.
$900 weeklies are dog chit though lol. 45 DTE is the sweet spot. But that’s also a lot of time for this volatile of a stock.

During the big dip recently down to the low 6’s, I bought 4 $329 LEAPs @ $309. It was a good amount of money but the effective rate of exercised is nice, plus I can load up on covered calls each month. You can do something like that for cheap if just doing one set ya know?
"It won't get better, just different."
post 1637323223 04-28-2021, 07:07 PM
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#703
  1. usersignup2
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Originally Posted By usersignup2⏩
STO
TSLA Apr30 650P

Will wait to see how market reacts to TSLA after hours earnings before selling calls this week.

All of last weeks plays expired worthless. Looking for two back to back days above 720 before it can run IMO.
Added Apr30 725CC x2

So disappointed to market reaction to earnings but, what can you do? Next quarter will sell calls from the outset and disregard potential (read flop) reaction. 4X 20 Delta covered calls on Monday would have netted me $3500 for the week.

As it stands, looking to net $1100 for the week. May get in another 2 CC tomorrow. Well see.
post 1637377953 04-29-2021, 01:11 PM
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#704
  1. usersignup2
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Added TSLA Apr30 700CC X2

brings the total to 1700 net possible for the week. Not bad considering I could have sat this one out and watch it tank.
post 1637381313 04-29-2021, 01:59 PM
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#705
  1. chino3
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Originally Posted By usersignup2⏩
Added TSLA Apr30 700CC X2

brings the total to 1700 net possible for the week. Not bad considering I could have sat this one out and watch it tank.
nice brah. I took a page out of your book and did some naked calls, but got out quick today.

4/30
707.50 x4 @ $3
bought to close @ $1.5

nothing to get excited about, but fun money to go out with for the weekend

But also added
5/7 $750 @ $2.5 x4
5/21 $750 @ $11 x4

I closed my 6/18 $900's (STO @ $21, BTC @ $4) so I could be more aggressive and not have anything looming further out like that
If 5/21 hits, I'm selling my leaps.
"It won't get better, just different."
post 1637394183 04-29-2021, 05:03 PM
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#706
  1. usersignup2
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Nice, chino. A few hundred here and there add up over the long haul. As long as Im not chasing its worth the time to pick up even a small trade. Income is where its at for me. I dont care about paper gains as Im not selling anytime soon.

While TSLA moves sideways, will be shifting my strategy for higher delta covered calls. Cash secured puts will stay in the 5 to 10 delta range. With the premium Ill be picking up more shares.
post 1637396413 04-29-2021, 05:39 PM
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#707
  1. chino3
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Thanks brah. Still working on getting this house, so I have to stay relatively liquid and/or be able to sell some things if need be. So trying to not over commit on my written options since so often they go red well before they go green lol. This also means I'm not opening any more CSP's (currently have RKT and PLTR csps in play, at about 50% green).

This is going to sound retarded, but I'm legit wondering what, if any, movement we will see with TSLA before/after Elon hosts SNL lol. If they don't make a "funding secured" joke, I will be disappoint.

Really really tempted to do PMCC's with PINS. If it hits <$63 I might have to do it (and sell something else off ugh). Premiums are still pretty juicy for it.
"It won't get better, just different."
post 1637397253 04-29-2021, 05:50 PM
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#708
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Originally Posted By chino3⏩
This is going to sound retarded, but I'm legit wondering what, if any, movement we will see with TSLA before/after Elon hosts SNL lol. If they don't make a "funding secured" joke, I will be disappoint.

Really really tempted to do PMCC's with PINS. If it hits <$63 I might have to do it (and sell something else off ugh). Premiums are still pretty juicy for it.
Lol. For real? I dont have a tv so had no idea. Doge coin skit would be funny as hell. Id say the more eyes on TSLA, the better for stock price

That gap fill to 49.25 on PINS would scare the fuk out of me. I dont know the stock so cant really say much otherwise.
post 1637443613 04-30-2021, 09:54 AM
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#709
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Originally Posted By NoScrubz⏩
Made this chart/red line for fun when I opened up my short position on TSLA a while ago ($820s). You brahs mirin how closely price has been following? Hopefully $500 by July it'll be a 5x play.

Hi. What is your play?
"It won't get better, just different."
post 1637448173 04-30-2021, 11:07 AM
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#710
  1. chino3
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Originally Posted By chino3⏩
nice brah. I took a page out of your book and did some naked calls, but got out quick today.

4/30
707.50 x4 @ $3
bought to close @ $1.5.
Woke up this morning kicking myself for missing out on an extra $600, but wowsa glad I played it safe, even if it doesn't hit. Don't need that stress as it creeps towards $707 right now
"It won't get better, just different."
post 1637450413 04-30-2021, 11:43 AM
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#711
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Selling more puts in X and RKT - 6/18 $20 and $20.89 (what a stupid number, lol) strikes, respectively. I was really more interested in both at $20, but I wanted at least $1 on them and didn't want to wait to see if they came down some, so I'll go in at $21 strike (which means they probably will come down now).
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post 1637451283 04-30-2021, 11:56 AM
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#712
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Originally Posted By SpeedCheeser⏩
Selling more puts in X and RKT - 6/18 $20 and $20.89 (what a stupid number, lol) strikes, respectively. I was really more interested in both at $20, but I wanted at least $1 on them and didn't want to wait to see if they came down some, so I'll go in at $21 strike (which means they probably will come down now).
RKT has earnings next week. I expect a big pump as the bag holders and fomo's from last time will be hoping and praying there is another magical one time special dividend, and then a massive dump. That said, I am actually really really hoping we see it close next week out at over $24 and I will close out a chunk of my leaps. If it doesn't, that will be $5k in premiums.
"It won't get better, just different."
post 1637459173 04-30-2021, 01:50 PM
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#713
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Originally Posted By chino3⏩
RKT has earnings next week. I expect a big pump as the bag holders and fomo's from last time will be hoping and praying there is another magical one time special dividend, and then a massive dump. That said, I am actually really really hoping we see it close next week out at over $24 and I will close out a chunk of my leaps. If it doesn't, that will be $5k in premiums.
yeah, maybe if I can pull a few bucks out of it leading up to earnings it might not be a bad idea to close out and see what happens with it.
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post 1637462513 04-30-2021, 02:39 PM
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#714
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Originally Posted By TugOfPeace⏩
Just curious, are you still below your cost basis on this, and if so, how long have you been trying to claw your way back?
oh I'm long out of RKT, sold 12/24/20 for a $40k loss lol. But I made ~$45k selling covered calls on it, otherwise I would've ridden that bish to the ground (actually would've sold during the crazy spike last ER when they announce the special dividend. Another lesson in JUST FUKKING HOLD)

But I got back in with a chit ton of hella deep ITM LEAPs so I can PMCC:

BTO
RKT
1/20/23
$13.89 @ $10.5 x???

Selling 30-45 DTE calls at or above $24. If I do this through expiration, and can average $.55 premium/month, it will pay for itself 100%, and then I can either sell at whatever they're at (which as long as it's above $13.89 it will be worth SOMETHING), or exercise some/all.
"It won't get better, just different."
post 1637482103 04-30-2021, 07:30 PM
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#715
  1. usersignup2
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Originally Posted By usersignup2⏩
Added TSLA Apr30 700CC X2

brings the total to 1700 net possible for the week. Not bad considering I could have sat this one out and watch it tank.
Had to close this for a loss. Net 450 for the week. Frankly, quite happy I got out at a reasonable price as I expect next week to be on the wild side and would not want to roll these out.
post 1637483493 04-30-2021, 07:56 PM
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#716
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Originally Posted By usersignup2⏩
Had to close this for a loss. Net 450 for the week. Frankly, quite happy I got out at a reasonable price as I expect next week to be on the wild side and would not want to roll these out.
What are you eyeing for next week? Kinda nervous about my 5/7 $750’s tbh lol. But gonna wait until 12:50pm on 5/7 if it passes $750
"It won't get better, just different."
post 1637550273 05-01-2021, 08:53 PM
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#717
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Originally Posted By chino3⏩
What are you eyeing for next week? Kinda nervous about my 5/7 $750’s tbh lol. But gonna wait until 12:50pm on 5/7 if it passes $750
Wait, why? I have 5/21 $715c
post 1637551703 05-01-2021, 09:17 PM
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#718
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Originally Posted By chino3⏩
What are you eyeing for next week? Kinda nervous about my 5/7 $750’s tbh lol. But gonna wait until 12:50pm on 5/7 if it passes $750
Some signs pointing to a reversal but Im still waiting for 2 back to back days above 720 to confirm. If we do that this week then potential for 800 very quickly. Having said that, leaning towards 752.50 CC which is near 20Delta. If we pop big Monday then Ill add the + to 752.50 to get my strike price, give or take. So say if were at 720 Monday am, Ill adjust my strike to 770.
post 1637601933 05-02-2021, 04:24 PM
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#719
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Slowly getting into options more and more and started with playing with SPY options. Did pretty well the past few days and it's pretty fukin fun.

I just bought these on Friday, hoping it prints a little bit. I'll be selling tomorrow morning most likely.



EDIT: Not looking great, wish I didn't enter late. Looking for a mid week exit instead.
HTC
post 1637618733 05-02-2021, 08:49 PM
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#720
  1. Glutamine2
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Originally Posted By chino3⏩
What are you eyeing for next week? Kinda nervous about my 5/7 $750’s tbh lol. But gonna wait until 12:50pm on 5/7 if it passes $750
Isnt that still super risky? You’ll be theta crushed on those calls.
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