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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 1636103743 04-13-2021, 10:06 AM
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#661
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Originally Posted By chino3⏩
I didn't. Got caught up in a gang of meetings and the trading day was gone by the time I was free. Might still be worth dropping a CSP or even a call spread (looking at 5/21 $65c/70cc)
gotcha

I am thinking of AMZN call spread. (too expensive for straight options)

AMZN ath is $3552.

Its looking like it will test ath before earnings (April 26).
post 1636112733 04-13-2021, 11:49 AM
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bigly option flow now going into tesla.

if this closes $745 today.

tmmrw before open this could run again.



this is looking like old times where big players just decide to buy it up
post 1636115703 04-13-2021, 12:22 PM
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#663
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Originally Posted By chino3⏩
long as it closes above $705 this Friday, I will be happy.
how happy man? 6figure happy?
post 1636116983 04-13-2021, 12:36 PM
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#664
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Originally Posted By thatsnarf⏩
how happy man? 6figure happy?
lol now I'm bitter and might actually end up rolling. Fuark, I knew this was prime for a run, but this is crazy. I am now not only back to my ATH but past it... Not going to make a single play until Friday. I am writing this so I can have some form of accountability lol. srs. Not gonna roll, gonna ditch these shares, and then work on preserving my other open covered calls in case this keeps up.
"It won't get better, just different."
post 1636117333 04-13-2021, 12:39 PM
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yeah when this runs it really runs


phuack regret selling half of those calls 10


if I held this would been $11K now.


$800C are now $5.7 from $1.2 fml.
post 1636185953 04-14-2021, 09:41 AM
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#666
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Originally Posted By Carbonfibre⏩
yeah when this runs it really runs


phuack regret selling half of those calls 10


if I held this would been $11K now.


$800C are now $5.7 from $1.2 fml.
Nice man at least you still had half. calls are tough when its all or 0 lmao
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post 1636186963 04-14-2021, 09:57 AM
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#667
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Gonna go against what I just said yesterday and close some things out/roll. Putting in an offer on a house this weekend, need to show cash not just assets, so going to roll my 4/16 TSLA cc's to fukkin December lol, and then sell the shares. That will be an extra $150k flex. Really wish I could've waited until Friday, but have to show proof of funds to the lender by today. Oh well.
"It won't get better, just different."
post 1636188983 04-14-2021, 10:27 AM
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#668
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Originally Posted By chino3⏩
Gonna go against what I just said yesterday and close some things out/roll. Putting in an offer on a house this weekend, need to show cash not just assets, so going to roll my 4/16 TSLA cc's to fukkin December lol, and then sell the shares. That will be an extra $150k flex. Really wish I could've waited until Friday, but have to show proof of funds to the lender by today. Oh well.
in california? what city man?
post 1636190213 04-14-2021, 10:44 AM
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Originally Posted By thatsnarf⏩
in california? what city man?
Yup. Upland. We had no idea what that city even was until we took one of our pups there for an ophthalmologist (before he lost his eye) and totally fell in love with it. Older, established, clean, mature landscaping, and just all around pleasant.

We were looking to move out of state, but I don't know if that's a reality with the wife's work, so started looking around here. I want to wait for a market correction, but if we find an AWESOME home, we decided we would jump on it. And we found it... Worried we will get blown out of the water come offer time though...
"It won't get better, just different."
post 1636190723 04-14-2021, 10:49 AM
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Managed to cover all my FTOC bags (-3.2k at $10.40) currently from options + some profits I took as it was going up. I'll need another $600ish from my CCs to cover myself down to $10, but that seems fairly doable since they haven't even started discussing merger timelines or anything and the 8 contracts I've still got out are "worth" $800. I'll hopefully close 3 more today so if it makes another run to $11 I can open new contracts again. I have started selling my common shares and buying warrants as well. If share price ever starts getting closer to the $11-12 range I'll use my warrants to sell PMCC at $12.5 or $15.
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post 1636194033 04-14-2021, 11:27 AM
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Originally Posted By chino3⏩
Worried we will get blown out of the water come offer time though...
lol. update how it goes regardless.

is it 1467 N. Pinebrook Upland 91786 ?
post 1636196733 04-14-2021, 11:57 AM
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#672
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Originally Posted By thatsnarf⏩
lol. update how it goes regardless.

is it 1467 N. Pinebrook Upland 91786 ?
fukkin hnnnngggggggg I wish lol.

I believe all offers will be reviewed this coming Monday. We are prepared to go $75k over asking... Sickening to say, but we REALLY want this place.
"It won't get better, just different."
post 1636198583 04-14-2021, 12:19 PM
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#673
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Originally Posted By chino3⏩
fukkin hnnnngggggggg I wish lol.

I believe all offers will be reviewed this coming Monday. We are prepared to go $75k over asking... Sickening to say, but we REALLY want this place.
LOL, that was the first house i saw. the inside deco was nuts.

1584 w. buffington st, upland 91784 is something i would love to have. i'd be content with that for the rest of my life.

good luck man.
post 1636198643 04-14-2021, 12:20 PM
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#674
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TSLA God says:

"THOU SHALT NOT PREDICT ME!!!"
post 1636201653 04-14-2021, 01:00 PM
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#675
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Originally Posted By usersignup2⏩
TSLA God says:

"THOU SHALT NOT PREDICT ME!!!"
Tesla is taking breather.

there was still tons of call buying for Tesla 800C 4/23 its right before earnings play.

I am glad got out yesterday.

If TSLA ramps up it will need to break $785 and it than it could run again.

Will watch for next week.
Originally Posted By chino3⏩
Yup. Upland. We had no idea what that city even was until we took one of our pups there for an ophthalmologist (before he lost his eye) and totally fell in love with it. Older, established, clean, mature landscaping, and just all around pleasant.

We were looking to move out of state, but I don't know if that's a reality with the wife's work, so started looking around here. I want to wait for a market correction, but if we find an AWESOME home, we decided we would jump on it. And we found it... Worried we will get blown out of the water come offer time though...
nice.

I thought people were leaving Cali? Or is housing market out of control everywhere.
post 1636204193 04-14-2021, 01:33 PM
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#676
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Originally Posted By Carbonfibre⏩
Tesla is taking breather.

there was still tons of call buying for Tesla 800C 4/23 its right before earnings play.

I am glad got out yesterday.

If TSLA ramps up it will need to break $785 and it than it could run again.

Will watch for next week.



nice.

I thought people were leaving Cali? Or is housing market out of control everywhere.
Hoping for massive TSLA run, then will open my final covered calls for the EoY and will be 100% committed to closing everything out then.

Housing market is crazy everywhere, but for us specifically we are kind of tied to CA for our jobs. Mostly my wife, as she's an attorney and would have to take another bar exam in other states. So going to chill here for 5-10 years and then revaluate
"It won't get better, just different."
post 1636296653 04-15-2021, 03:48 PM
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#677
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that DKNG would been money now, strong sixth sense chino


why did I sleep on this.

up nicely after hours

https://www.globenewswire.com/news-r...ll-League.html


if there is follow through tmmrw I might jump in call spread
post 1636348413 04-16-2021, 09:10 AM
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#678
  1. chino3
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Having trouble deciding what to do with my IRA. I have 100 shares of TSLA with a cost basis of $619. I'm really torn between:

a) leaving it be 5ever

b) leaving it but writing a December call at like $900 which after premiums would be a 73% return (if it hits)

c) sell, use money to buy PLTR leaps and do massive PMCC for 1/2022. See below:


BTO
PLTR
1/21/22
$12.5c @ $11.15

STO
PLTR
1/21/22
$30c @ 2.99

If that hits, it would be a 114% return.


At first glance, sure 114% is better! But, I'm already in a position with TSLA and don't have to do anything else. With the PLTR leaps, I run the risk of the stock trading sideways forever and have to worry about my break even being $20.66 which I would hope is unlikely but who knows...
"It won't get better, just different."
post 1636350863 04-16-2021, 09:39 AM
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#679
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Why are you looking at selling a call out in December as well? Isn't really a PMCC anymore at that point, just a long ass long call spread.

Holding TSLA ties up a ton of capital, but if you don't necessarily need it for anything else, I lean towards keeping TSLA, but going with option D - selling ~30 delta calls ~45 DTE until it's called away. Of course, that stock has exploded the past year, and even at $619 is a really high value. If that turns around at all it could turn into a really long term hold. But that almost seems like a risk with practically anything these days.
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post 1636356903 04-16-2021, 11:08 AM
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#680
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Originally Posted By SpeedCheeser⏩
Why are you looking at selling a call out in December as well? Isn't really a PMCC anymore at that point, just a long ass long call spread.
I want to set it and forget it, and yes you're right about calling it a spread vs PMCC, tomato tomahto...
Originally Posted By SpeedCheeser⏩
Holding TSLA ties up a ton of capital, but if you don't necessarily need it for anything else, I lean towards keeping TSLA, but going with option D - selling ~30 delta calls ~45 DTE until it's called away. Of course, that stock has exploded the past year, and even at $619 is a really high value. If that turns around at all it could turn into a really long term hold. But that almost seems like a risk with practically anything these days.
I've said since the S&P rumblings that $600 is the base support. I can see it exploding with upcoming news and additional PT upgrades, which I see a lot of both coming tbh.

I really just want to set up long "safe" plays in my IRA since I don't like checking on it or at least being super active in it, if that makes sense.
Originally Posted By TugOfPeace⏩
Anyone know why I can't close an option that's worthless? It just sits in pending orders. It's just some calls, but want to do it before close
Maybe nobody wanting to buy? even at near $0?
"It won't get better, just different."
post 1636357703 04-16-2021, 11:22 AM
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#681
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tug probably has option out of money

anything below 0.1 is worthless. not even worth trying to sell. unless he is holding 1000+ calls

if expiry is 4/16

broker will just get removed automatically after it expires.



how close are you to stock price?

if you bought $50 call and stock is right now $48

there is still risk after hours stock could go $51 and there is 30 minute window after hours where you can get assigned those shares.
post 1636362723 04-16-2021, 12:33 PM
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#682
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Originally Posted By chino3⏩
I want to set it and forget it, and yes you're right about calling it a spread vs PMCC, tomato tomahto...



I've said since the S&P rumblings that $600 is the base support. I can see it exploding with upcoming news and additional PT upgrades, which I see a lot of both coming tbh.

I really just want to set up long "safe" plays in my IRA since I don't like checking on it or at least being super active in it, if that makes sense.



Maybe nobody wanting to buy? even at near $0?
Yeah, I get ya. If you want to just set it and forget it I'd probably go with the long covered call on TSLA.

Reminder that I'm not an advisor. That's just what I think I'd do.
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post 1636362823 04-16-2021, 12:34 PM
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#683
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Originally Posted By TugOfPeace⏩
So I had 26C for PLTR, 16C for IPOF, and 17.5C for PSFE. Im not trying to close IPOF, but PLTR and PSFE are currently trading at $22.50 and $13.50. Theres no chance I could make back anything on those two unless they moon a crazy amount AH which is unlikely

The price of each of those contracts is now .005
I can only speak about PLTR, it doesn't look anywhere close to getting into money unless something wild is announced after hours.

you need to be aware of this rule to avoid risk getting assigned

https://www.nasdaq.com/articles/auto...ues-2010-11-18
post 1636365593 04-16-2021, 01:07 PM
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Originally Posted By SpeedCheeser⏩
Yeah, I get ya. If you want to just set it and forget it I'd probably go with the long covered call on TSLA.

Reminder that I'm not an advisor. That's just what I think I'd do.
Yeah, maybe I will just stick with 60 DTE calls instead. Checking in every 2 months isn't bad lol



That said, with how down PLTR is, I am struggling with not opening leaps or call spreads...
"It won't get better, just different."
post 1636368303 04-16-2021, 01:41 PM
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#685
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Originally Posted By chino3⏩
That said, with how down PLTR is, I am struggling with not opening leaps or call spreads...
don't do it yet.

$22.35 is PLTR monthly value area.

If it doesn't hold this to close.

Its gonna slide even more. Could get leaps much cheaper if it goes below $20.

I am waiting for leaps also.
post 1636368853 04-16-2021, 01:48 PM
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Originally Posted By chino3⏩
Yeah, maybe I will just stick with 60 DTE calls instead. Checking in every 2 months isn't bad lol



That said, with how down PLTR is, I am struggling with not opening leaps or call spreads...
what happened with the offer? did somebody blow it out of the water?
post 1636369043 04-16-2021, 01:51 PM
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#687
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Originally Posted By usersignup2⏩
TSLA God says:

"THOU SHALT NOT PREDICT ME!!!"
$1000 by June

You're welcome
post 1636369723 04-16-2021, 02:01 PM
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#688
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Originally Posted By Carbonfibre⏩
don't do it yet.

$22.35 is PLTR monthly value area.

If it doesn't hold this to close.

Its gonna slide even more. Could get leaps much cheaper if it goes below $20.

I am waiting for leaps also.
Alright, I'll chill with my itchy trigger fingers lol
Originally Posted By thatsnarf⏩
what happened with the offer? did somebody blow it out of the water?
Find out Monday. Normally weekends kill me because I'm anxious for the markets to open back up, but now throw this into the mix, and I don't think I will be able to sleep.
Originally Posted By Elias373⏩
$1000 by June

You're welcome
broooooo, if it hits $1k by june, I'd coom so fuggin hard. ded fkn srs
"It won't get better, just different."
post 1636387063 04-16-2021, 06:45 PM
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I am down like $5,000 and I don’t know what to do to fix it.
There is no they…
post 1636390853 04-16-2021, 07:44 PM
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#690
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Originally Posted By Travis99⏩
I am down like $5,000 and I don’t know what to do to fix it.
Positions? Feel free to PM if you don’t want to put all your info out there.
"It won't get better, just different."
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