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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 1638771543 05-17-2021, 12:26 PM
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#781
  1. usersignup2
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STO
TSLA May21 620C x2
TSLA May21 625C x2

Looking to net 2300 for this week with these two plays.
post 1638776863 05-17-2021, 01:33 PM
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#782
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Originally Posted By usersignup2⏩
STO
TSLA May21 620C x2
TSLA May21 625C x2

Looking to net 2300 for this week with these two plays.
Interesting - are you going with a contrarian play, given all the recent hate + Burry disclosures?
mo e
post 1638778273 05-17-2021, 01:47 PM
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#783
  1. chino3
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Originally Posted By mulletwarrior⏩
Interesting - are you going with a contrarian play, given all the recent hate + Burry disclosures?
Contrarian?

He’s banking on it NOT climbing to those prices
"It won't get better, just different."
post 1638780273 05-17-2021, 02:15 PM
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#784
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Originally Posted By mulletwarrior⏩
Interesting - are you going with a contrarian play, given all the recent hate + Burry disclosures?
These are essentially the same plays Ive been doing for months now. Strikes are based on Delta at 20 give or take. Burry disclosures? His move has no real bearing on what I do. Its completely possible that he and I both profit at the same time even though I am bull. Whats his strike? Whats his entry? Whats his exit? Too many ifs to worry that we are at odds with each other. Not to mention...some great hedge funds have fallen making wrong moves, particularly betting against TSLA.

I will add that too many people place too much emphasis on news and think it moves stock price. IMHO and what Ive learned in the past as a day trader, whale moves are pre planned in advance in dark trades. No one sees them unless you have access to the software. News is just the cover to push the stock in a given direction. Its gonna move whether you like it or not, whether there is real news or not.
post 1638780643 05-17-2021, 02:21 PM
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#785
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COIN 238... ouch...
"Paper money is going away" - EM
post 1638781603 05-17-2021, 02:33 PM
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#786
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Originally Posted By chino3⏩
Contrarian?

He’s banking on it NOT climbing to those prices
I mean contrarian given the current ostensible sentiment re TSLA atm.
mo e
post 1638854523 05-18-2021, 12:42 PM
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#787
  1. RobParks2M
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I'm doing it boyos. Bought 200 IPOE warrants for $4.00 each.

Sold 2 IPOE 20C exp 6/18 for $65 each. Premium covers roughly 17% of my warrant purchase.
Tempted to sell 2 CSP for 6/18 $15P for $140 each, but I'm thinking it'll probably drop at some point so I'll wait for better premium.
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post 1639342883 05-24-2021, 05:00 PM
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#788
  1. usersignup2
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Last weeks calls expired worthless. Bought some TSLA 590 calls with 0 DTE. Entry was good but did not heed my stop loss.

Total net for the week about 1900.

STO
TSLA May28 630C x4

Looking to net 2000
post 1639343983 05-24-2021, 05:15 PM
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#789
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All my ARK CC's expired worthless last week, wrote near ITM calls for 6/18. Over this chit and the premiums are so bad it's not even worth the opportunity cost.

Had $22 CSP's on PLTR @ $2.04 x20, closed on Friday at $.98 and rolled to July $22csp @ $2.35 x20. Still have 6/18 $22csp @ $2.25 x20

Depending on what happens at the RKT meeting tomorrow, I hope to be writing calls around $23-ish, but if no movement it will be $18 weeklies.
"It won't get better, just different."
post 1639391623 05-25-2021, 09:25 AM
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#790
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Loaded up on SPY puts to the tits past few days. Expecting this thing to come crashing back down to 415 range. Today is a very nice day so far.
HTC
post 1639475553 05-26-2021, 10:01 AM
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#791
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you could always sell a CC at $5 to work as insurance/mitigate loss. Or just cut out now isn't a horrible idea. I can't speak confidently as I haven't watch this stock AT ALL.
"It won't get better, just different."
post 1639476783 05-26-2021, 10:18 AM
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#792
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Originally Posted By TugOfPeace⏩
do you mean to add a second option leg? I'm a bit confused.

If I do "add to position" it defaults to BTO, but I can change that to STO. You're saying STO $5 CC? That gives me $350 premium, but how can I do that if I don't have any actual shares? And what happens if I do STO $5 CC at an expiry later than 6/18?
You're basically creating a call spread. Yes, STO $5c.
'
selling a call past your long call expiry, results in a naked call of sorts.
"It won't get better, just different."
post 1639491933 05-26-2021, 01:33 PM
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#793
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You can't open a short position in one you already have an open long position. They literally cancel each other out.
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post 1639497023 05-26-2021, 02:39 PM
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#794
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good amount of RKT call buying went up today.

June 18th expiry.

chino did they say anything on investor day?


on the chart side it put up green bar today...tmmrw another one would be good start.

last time rkt had 3 green days in row was 2020 lmao nuts
post 1639542063 05-27-2021, 07:03 AM
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#795
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Originally Posted By TugOfPeace⏩
weird, I tried doing this but I wasn't able to.

"This order is not an opening transaction. it will decrease or close an existing options purchase."
Essentially what chino said.

Other option is a credit spread. Opening a higher strike short call with same expiration, i.e. BTO JUN 5C with STO JUN 7.5C

Edit- oops. Realized I miswrote the calendar spread. Should be sell the front date, buy the back date. But this wouldnt work in your case because you bought the nearest expiration and cant sell an earlier dated option.
post 1639558743 05-27-2021, 11:30 AM
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#796
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Originally Posted By Carbonfibre⏩
good amount of RKT call buying went up today.

June 18th expiry.

chino did they say anything on investor day?


on the chart side it put up green bar today...tmmrw another one would be good start.

last time rkt had 3 green days in row was 2020 lmao nuts
started moving now.

interesting.

that option flow was hinting at something I guess.
post 1639559033 05-27-2021, 11:33 AM
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#797
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Originally Posted By Carbonfibre⏩
started moving now.

interesting.

that option flow was hinting at something I guess.
Investor day was absolute dog chit, and made more people angry than anything. I have no clue why it's moving. I'm looking fukked on my cc's lol.
"It won't get better, just different."
post 1639559763 05-27-2021, 11:41 AM
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#798
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Originally Posted By chino3⏩
Investor day was absolute dog chit, and made more people angry than anything. I have no clue why it's moving. I'm looking fukked on my cc's lol.
hmm

only explanation than, RKT is ripping due to meme stocks going vertical.
post 1639560203 05-27-2021, 11:47 AM
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#799
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Originally Posted By Carbonfibre⏩
hmm

only explanation than, RKT is ripping due to meme stocks going vertical.
Just no idea what will happen from here though. Friday sell off going into the holiday weekend (market wide)?
"It won't get better, just different."
post 1639560993 05-27-2021, 11:54 AM
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#800
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Originally Posted By chino3⏩
Just no idea what will happen from here though. Friday sell off going into the holiday weekend (market wide)?
possible.

this cannot continue like this.

whatever is going with meme just makes no sense anymore.
post 1639603963 05-27-2021, 11:07 PM
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#801
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So, Boyos. Looking at buying calls and puts WHAT is the best strategy should I be doing a DIFFERENT company everytime or just picking a company or index and just grinding it out until I am LESS of a poor****.
- Keep the misc great again

- Watch my poo flush while holding the plunger to make sure I don't flood the bathroom crew.

- You can be REALCLOUT too VIA the REALCLOUT text GENERATOR sponsored BY miscmathematician SRS

Click here ----------------> https://js.do/caffeinatedlogic/50858



The world is YOURS boyos.
post 1639621893 05-28-2021, 08:17 AM
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#802
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Originally Posted By Realclout⏩
So, Boyos. Looking at buying calls and puts WHAT is the best strategy should I be doing a DIFFERENT company everytime or just picking a company or index and just grinding it out until I am LESS of a poor****.
Due diligence is your friend but imo you shouldnt be getting into this. Lol. Sell covered calls. Collect the premiums. 90% of options expire worthless.
post 1639675573 05-28-2021, 10:21 PM
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#803
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Originally Posted By usersignup2⏩
STO
TSLA May28 630C x4

Looking to net 2000
BTC 2 contracts at .25 because I was worried that there would be an end of day run like yesterday. Other 2 contracts expired worthless. Made some money on AMC puts. Lost a couple bucks on TSLA calls. Total net 2200 for the week.
post 1639675793 05-28-2021, 10:24 PM
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#804
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Originally Posted By usersignup2⏩
Due diligence is your friend but imo you shouldnt be getting into this. Lol. Sell covered calls. Collect the premiums. 90% of options expire worthless.
No AVI did not read SRS.
- Keep the misc great again

- Watch my poo flush while holding the plunger to make sure I don't flood the bathroom crew.

- You can be REALCLOUT too VIA the REALCLOUT text GENERATOR sponsored BY miscmathematician SRS

Click here ----------------> https://js.do/caffeinatedlogic/50858



The world is YOURS boyos.
post 1639861843 05-31-2021, 06:52 PM
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#805
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closed out my T theta farm before the holiday weekend. been farming it since october, made $492 between theta and two rounds of dividends, $80 in profit was from share appreciation, $104 in dividends (would have been more but someone exercised early) so most of from selling premiums. not bad for my first theta farm harvest and especially since T has been flat AF for months!
STEM Wagie Brah
Oil/commodity based trader
post 1639917123 06-01-2021, 02:31 PM
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#806
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Originally Posted By TugOfPeace⏩
For fuks sake.. it already went past $5 as of now. Clown fuking world.. guess we aren't going deep red every other day anymore
Im assuming you closed out?

I try not to lament over what happens after I make a trade. Did you make the right decision based on what you saw at the time? If so, move on. It could have easily taken a nosedive and you could have been sitting on even greater losses.

Example, I bought TSLA calls on Friday and sold for a loss. If I held I would have netted over 1K. I dont care though, because my trade was based on how I read the market at the time. And if I go over it, including the timeframes after, it was still the right decision.
post 1640392083 06-07-2021, 07:27 PM
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#807
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Last week was a clusterfuk. Chasing money. Mostly correct entries except for AMC 60C held overnight and never materialized. Sold only 2 TSLA calls. 950 loss for the week.

STO
TSLA Jun11 625c x4
PLTR Jun11 26c x 10

buy/write
AMC Jun11 60c

Looking to net 2900 for the week.
post 1640393503 06-07-2021, 07:48 PM
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#808
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Bold af move with the Plaid event


Friday BTC my RKT 6/4 $24c x125 for $.01 for a $900 gain (after fees),
and STO 6/11 $35c x125 for $.15. These are naked, thus the super safe strike.


Not looking to do anything else while meme mania is going on, at least not until I trim some RKT positions, but that won’t be until it hits $24 or so, then back to the ThetaGang grind.
"It won't get better, just different."
post 1640453113 06-08-2021, 03:43 PM
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#809
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Originally Posted By TugOfPeace⏩
I made a dumb fuking move AGAIN with AHT good lord lmao.

Had 1500 shares at $5.3 cost basis. STO 6/18 $.40 @ $7.5 strike.

Out of nowhere it starts mooning, hits $6 within an hour. After hours it's now $7.1. My covered calls are blood red.

WTF.

If I roll it out I would have to BTC in the morning at a fairly substantial loss and then STO at a later date; fml!

Am I correct in assuming any gains I'm seeing right now will be reduced in the morning once my CC goes even more in the red at open?
Alright Tug, I know you are going to read this and do literally the opposite of what I tell you, but here it is anyway.

Strictly IMO- no financial advisor-

Do not buy back your fuking calls. Do not roll them out. Odds of it shooting past $7.9 in the next 10 days aren't really that good despite its current run up. Just sit on your hands until you are closer to expiration if you want to roll.Listen TUGThis would be the absolute worst time to make a move. You are panicking and emotionally trading. Do not give in. IV is shooting up and there is a fair amount of time for these to "potentially go up" meaning there is a lot of premium that will be lost in the coming days.
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post 1640454483 06-08-2021, 03:57 PM
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#810
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Originally Posted By TugOfPeace⏩
Hahaha. I am committed to this trade.

What I ended up doing was adding 600 shares at $6.9 or so; it's literally the most I could get on margin, to offset some of the losses I'll see once it moons past strike.

I will hold, but man, what if this thing becomes a meme stock and starts going crazy? That's what scares me. Granted I'm happy with the profit but sheesh, if it moons I would be pretty bummed.


I ran into this scenario before in like December last year when I had a CC on PLTR - I actually closed that call but the caveat was that I made the money back that I lost since it continued to moon. I shouldn't make that same mistake twice.
loooool. Tug what if it dips hard?
Fitness connoisseur
0.4 mg of party's over wake the FK up!
"the personification of greatness"
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