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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 1637993523 05-07-2021, 10:53 AM
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#751
  1. mulletwarrior
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Originally Posted By usersignup2⏩
100 contracts?
ya boi
mo e
post 1637994393 05-07-2021, 11:07 AM
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#752
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Bought PTON 90P near the open. Closed for nearly 3X for 1600 gain. Could still run to test yesterdays low but tired of watching.
post 1637995523 05-07-2021, 11:25 AM
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#753
  1. chino3
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Closed out my TSLA leaps. Need money for house down payment, and I'm tired of volatility. Now, I will just have a strangle for the december expiration, and 100 shares in my IRA that I will wheel. Depressing af considering how much money TSLA made me last year in realized gains, and now I'm walking away with just 20k profit for 2021 in TSLA realized.

I am super red on my RKT leaps, so I will just grind out super aggressive weekly CC's until recovery or expiration, whichever comes first lol
"It won't get better, just different."
post 1637999233 05-07-2021, 12:21 PM
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#754
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Originally Posted By mulletwarrior⏩
The $31 call was .03 and I only bought 100 Ks, so pretty cheap YOLO. I think the $19 put is realistic.
Have you looked into credit spreads?

Buy the 24 calls, sell the 24.50 calls for $3 per contract. Max upside $47 per contract. IMO still slim chance of profit but way better than 31C.
post 1638062153 05-08-2021, 09:51 AM
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#755
  1. RobParks2M
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Originally Posted By mulletwarrior⏩
The $31 call was .03 and I only bought 100 Ks, so pretty cheap YOLO. I think the $19 put is realistic.
Set a 0.1 sell price on 1/3 of your contracts if you just want a chance to triple your $$$ and I bet at some point they'll hit. Then you are just playing with house money on the other 2/3 if for some reason they really start to spike.
Fitness connoisseur
0.4 mg of party's over wake the FK up!
"the personification of greatness"
post 1638063643 05-08-2021, 10:14 AM
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#756
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Originally Posted By RoyalRyy⏩
Ahhh I remember awhile back I heard Heaney mention something about portfolio margin as well but that was when I just started getting into investing so I didn't really know much. Btw, how much do you have to pay for each contract? I asked them to lower it and they're gonna get back to me with a cheaper fee.

My friend that got into MVIS and OCGN when they were in the dollar range just found his next big stock. $MARK. Gotta do some DD on it to see if I wanna yolo a 1 year+ hold. Just thought I'd mention it if someone wanted a yolo long term play lol
Think that was either Rob or Harry, I don't have margin.
post 1638066423 05-08-2021, 11:01 AM
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#757
  1. chino3
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Originally Posted By Heaney⏩
Think that was either Rob or Harry, I don't have margin.
I think I’m the only one on the misc with portfolio margin. Could be wrong though. Harry got turned down lol
"It won't get better, just different."
post 1638067173 05-08-2021, 11:13 AM
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#758
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Originally Posted By Heaney⏩
Think that was either Rob or Harry, I don't have margin.
Originally Posted By chino3⏩
I think I’m the only one on the misc with portfolio margin. Could be wrong though. Harry got turned down lol
Hm maybe it was Chino then, idk. I remember seeing somebody from the SPAC thread talking bout it months ago lol.

I think I'm about to get r@ped next week with my options. I bought some spy puts before that job report came out and next thing ya know it's breaking ATH's. Fukin clown market. I have a CRM 232.5 may 21 call as well that is getting absolutely slaughtered. I hope things work out next week or I take a nice loss. Note to self: buy more long dated options..
HTC
post 1638200693 05-10-2021, 09:03 AM
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#759
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Originally Posted By RobParks2M⏩
Set a 0.1 sell price on 1/3 of your contracts if you just want a chance to triple your $$$ and I bet at some point they'll hit. Then you are just playing with house money on the other 2/3 if for some reason they really start to spike.
Thanks, brah. New to options trading so this is helpful. Think I will need to start playing with sell/limit orders.
mo e
post 1638201213 05-10-2021, 09:10 AM
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#760
  1. chino3
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I'm down so fukking much, it isn't even worth it to post loss porn lol. RKT fukked me hard, just like last year. But gonna hold these LEAPs until expiration or 100% recovery (1/2023 expiration). Going to keep writing weeklies but more aggressively. Worst case scenario I have to roll out and miss a weeks worth of opportunity, best case, I keep raking in the premium. To make things extra potato, I am increasing my CC's by 50% through naked options. If that doesn't trigger the rebound gods, I don't know what will.
"It won't get better, just different."
post 1638203193 05-10-2021, 09:44 AM
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#761
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Originally Posted By chino3⏩
I'm down so fukking much, it isn't even worth it to post loss porn lol. RKT fukked me hard, just like last year. But gonna hold these LEAPs until expiration or 100% recovery (1/2023 expiration). Going to keep writing weeklies but more aggressively. Worst case scenario I have to roll out and miss a weeks worth of opportunity, best case, I keep raking in the premium. To make things extra potato, I am increasing my CC's by 50% through naked options. If that doesn't trigger the rebound gods, I don't know what will.
Hear me out. Could you buy somewhat deep OTM calls then just write lower strike calls and likely still cash in? Realistically if RKT was gonna move it would move up HUGE and your OTMs print harder than your call losses right?
Fitness connoisseur
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"the personification of greatness"
post 1638203943 05-10-2021, 09:57 AM
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#762
  1. chino3
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Originally Posted By RobParks2M⏩
Hear me out. Could you buy somewhat deep OTM calls then just write lower strike calls and likely still cash in? Realistically if RKT was gonna move it would move up HUGE and your OTMs print harder than your call losses right?
Absolutely, and I might just do that. Not entirely sure if/where I want to commit more capital right now. Should be closing on the new house by month's end, so trying to make sure I am plenty liquid for the down payment and also my tax bill.
"It won't get better, just different."
post 1638215703 05-10-2021, 12:44 PM
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#763
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bought a few ARKK puts. Lol, ARKK ppl betting against ARKK like crazy at the moment.
mo e
post 1638216083 05-10-2021, 12:48 PM
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#764
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Originally Posted By mulletwarrior⏩
bought a few ARKK puts. Lol, ARKK ppl betting against ARKK like crazy at the moment.
Yeah ARKK is getting attacked right now lol.


This spy dump came in clutch for my puts. Ty algos

EDIT: Bought more GS calls. 400 7/16 No doubt in my mind these will print as well
HTC
post 1638217063 05-10-2021, 01:03 PM
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#765
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Watching TSLA on 1 minute chart is like watching The Little Train That Could
post 1638238293 05-10-2021, 05:45 PM
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#766
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Originally Posted By usersignup2⏩
Welp, gotta make some money even in a sideways trend. TSLA moving in the wrong direction. Still looking for a bounce.

STO
CL Jan22 87.50C
TSLA May07 705C x2
TSLA May07 710C x2
TSLA May07 630P
PLTR closed my May07 @.03 and opened Jun04 25C x10

Looking to net 3400 for these plays.

still short AAPL, BAM.A and TWTR calls
All May07 expirations expired worthless. Add in my PTON puts, net 3700 for the week.

STO
TSLA May14 605P
TSLA May14 680C x2
TSLA May14 675C x2

Looking to net just over 2K with these plays.

Took a shot at AMC 9.50P weeklies but closed out for 250 loss.
post 1638261263 05-10-2021, 11:03 PM
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#767
  1. Glutamine2
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Originally Posted By usersignup2⏩
All May07 expirations expired worthless. Add in my PTON puts, net 3700 for the week.

STO
TSLA May14 605P
TSLA May14 680C x2
TSLA May14 675C x2

Looking to net just over 2K with these plays.

Took a shot at AMC 9.50P weeklies but closed out for 250 loss.
Sorry man. Feel that pain with ****ing TSLA. Paid $35 for $715c 5/21 and they’re now worth $3. Very much hoping we’ll make it.
post 1638290893 05-11-2021, 10:02 AM
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#768
  1. mulletwarrior
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Damn options trading is stressful lol. My PLTR $19 5/14 puts were up over 100% yesterday. Now I am down like 44%. Should have sold before earnings. At least I am long PLTR as well.
mo e
post 1638291213 05-11-2021, 10:05 AM
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#769
  1. RobParks2M
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Originally Posted By Glutamine2⏩
Sorry man. Feel that pain with ****ing TSLA. Paid $35 for $715c 5/21 and they’re now worth $3. Very much hoping we’ll make it.
lmfao. he is taking the opposite side of your trades and taking your money
Fitness connoisseur
0.4 mg of party's over wake the FK up!
"the personification of greatness"
post 1638291243 05-11-2021, 10:06 AM
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#770
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Originally Posted By mulletwarrior⏩
Damn options trading is stressful lol. My PLTR $19 5/14 puts were up over 100% yesterday. Now I am down like 44%. Should have sold before earnings. At least I am long PLTR as well.
Got greedy huh?
HTC
post 1638291963 05-11-2021, 10:14 AM
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#771
  1. mulletwarrior
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Originally Posted By RoyalRyy⏩
Got greedy huh?
Yeah - or cocky. Was sure PLTR earnings were going to be chit.
mo e
post 1638313593 05-11-2021, 02:25 PM
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#772
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Originally Posted By Glutamine2⏩
Sorry man. Feel that pain with ****ing TSLA. Paid $35 for $715c 5/21 and they’re now worth $3. Very much hoping we’ll make it.
Originally Posted By RobParks2M⏩
lmfao. he is taking the opposite side of your trades and taking your money
What Rob said. Sold all those, did not buy. Collecting premium.
post 1638380023 05-12-2021, 09:55 AM
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#773
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Puts doing nice today.

Picked up some calls in broad index funds on expectation of bounce or some fed announcement that will shoot things up again. Also picked up some calls on commodity ETFs because YOLO.
mo e
post 1638380863 05-12-2021, 10:07 AM
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Nibbled on more GS calls, TSLA call and MARA calls. Really wanted more AMD leaps but I'm broke rn.
HTC
post 1638381333 05-12-2021, 10:13 AM
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#775
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Not opening my portfolio until NEXT Thursday. No cash (reserved for house down payment), so it only hurts to see things I want to buy at these levels, and don't want to risk further exposure with any CSP's.

5/21 I have a chit ton of options expiring

ARK F/G/K/Q/W cc's
PLTR csp's
RKT cc's

Even though if my ark calls get exercised I will be selling at a loss, I will be fine to walk away and free up $50k, and not see all that red. Not even like the premiums are good enough to make me interested in selling calls.

PLTR will most likely need to get rolled
RKT cc's I would like to HAVE to roll out, but not sure if 8 days is enough to get to $19 barring any substantial news or wsb squeeze efforts.
"It won't get better, just different."
post 1638417863 05-12-2021, 05:26 PM
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#776
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Originally Posted By usersignup2⏩
All May07 expirations expired worthless. Add in my PTON puts, net 3700 for the week.

STO
TSLA May14 605P
TSLA May14 680C x2
TSLA May14 675C x2

Looking to net just over 2K with these plays.

Took a shot at AMC 9.50P weeklies but closed out for 250 loss.
BTC 605P for a big loss
BTO 610P to hedge my long position
post 1638463123 05-13-2021, 08:53 AM
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#777
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As someone relatively new to options trading, is the strategy during volatility (like right now) to buy a diverse set of puts and calls with a somewhat far off exp date and just unload them on green days?
mo e
post 1638484743 05-13-2021, 01:39 PM
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#778
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Originally Posted By mulletwarrior⏩
As someone relatively new to options trading, is the strategy during volatility (like right now) to buy a diverse set of puts and calls with a somewhat far off exp date and just unload them on green days?
Not a strategy I would employ. Risk is volatility decreases and your option value diminishes dramatically. Even if your price increases it could still drop in price.
post 1638562763 05-14-2021, 01:50 PM
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#779
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Originally Posted By usersignup2⏩
BTC 605P for a big loss
BTO 610P to hedge my long position
Net gain for the week, albeit only a few hundred. Win is a win. 610P got me in the + zone so very fortunate. Was up 100% at one point with the 610P but really was only using it as a hedge.
post 1638612423 05-15-2021, 08:42 AM
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#780
  1. chino3
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I lied, I closed out my RKT cc’s. I have a feeling something big could happen between Monday and 5/25 when they have their investors meeting. If not, I wasted time and premiums but would rather that than a massive run up or squeeze that results in a margin call lol. I sold super aggressive calls at $.26 and closed out .08. But I increased the call quantity by 50% through naked calls. Too Spicey to do until I feel more confident in how it will move. Still happy with making $4.4K on the trade but left nearly $3k on the table.

Let’s see what happens but I just have a feeling...
"It won't get better, just different."
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