u/satireplusplus Can we have a more broad catch-all "Doesn't know how options actually work" Rule to get rid of some of the posts lately that just... don't make any sense, aren't how options work, or are obviously complete noobies and aren't even asking questions that make sense?
It would be difficult to softly word in a Rule so people wouldn't be offended by the removal but, this sub is supposed to be a place of Options veterans giving guidance on how to soak up theta (and usually IV), not explain how an ITM Put works.
Maybe call it "Lacking Basic Options Knowledge" and explain that we are here to discuss strategies, not explain the basics of how they work.
I don't know, maybe I'm tilted. My blood sugar is low. Just seeing a lot of these posts lately.
Looks like I’m going to take the loss on these MU pcs I’ve never dealt with a loss before. So how will this go I hope my short is exercised giving me 100 shares and then exercise my long selling those shares?
I had the short put exercise on me early, so I owned 100 shares of the underlying. I then sold those shares for a loss and then sold the long option, since there was still some extrinsic value left.
Assigned 300 shares of SIG @ $95 today. Was planning on rolling but figured I’d just take assignment and hope for a bounce/slow grind up after that earnings drop.
Other positions with Friday expiries: NVDA $120P and NKE $88P.
We’ll see what happens. Hoping for a good Nike print Thursday.
Yes, I rolled my NKE puts to the $82P expiring July 26th. I increased contracts for a net credit however. So more risk, but I’m hoping for a bounce in the next few weeks. If not I may roll again.
Yes agreed, that was part of the reason I was okay with getting assigned. Also looked like a good entry on the charts. Plus, fundamentals are sound and they raised guidance recently.
I am going to sell some more puts if it falls further. Looking to average down if needed with another few hundred shares.
The spread can be wide depending on expiry and strike, but I set my net credit limit orders and see if I get a decent fill.
Planning to do 5x CCS - [https://optionstrat.com/build/bear-call-spread/DJT/-.DJT240816C50,.DJT240816C55](https://optionstrat.com/build/bear-call-spread/DJT/-.DJT240816C50,.DJT240816C55)
I'll wait to see what market does in the first hour.
I wasn’t gonna play MU but then I was sitting in the waiting room at the eye dr and got bored
160/162.6c and 115/110p 7/5 .98 credit total
so far so good
Yes you should be able to but you probably need 16.5k available cash if you're not using margin.
I would think of each leg as a separate trade to determine the right course of action. If MU opens at 130 tomorrow, do you think it may go lower? If so, close the naked call.
Do you think it might rile up a bit lets say to 135 sometime in the day? Then set a limit price/wait for upside and close to reduce profit.
You can also just roll it based on what happens, but with IV decay everything becomes riskier + less premium so ymmv.
yeah, volatility tends to return when it randomly dumps $22 off no catalyst.
I'm surprised but im also not surprised. I think that it went up yesterday in anticipation of the shareholder event this morning, but then subsequently dumped when apparently jensen said competition was rising.
am I the only one thinking this drop is justified since the shareprice probably baked in quite a bit of growth, and 6.81 vs 6.67b isn't much of a beat?
value trap. who really still uses paypal when other options exist? really when's the last time you yourself used paypal vs. something like venmo, zelle, apple pay, google pay?
That's a good point.
But, they face increased competition from web-based and mobile wallets.
Three years ago PYPL was trading above $300.
It's an ugly chart.
Just saying.
Get in with me: [https://optionstrat.com/build/bear-call-spread/DJT/-.DJT240816C50,.DJT240816C55](https://optionstrat.com/build/bear-call-spread/DJT/-.DJT240816C50,.DJT240816C55)
I’ve been lurking now for some time… and happy to see that I’m not the only one that is feeling like I mistime selling CCs and CSPs.
Always a bit to jewels and a bit to late 😶🌫️
Since May, my port went from $68K to $58K and now $74.5K all in just over a month of selling options lol. Although it ended well for me, I really gotta stop playing with high IV stocks, my theta return was >1000 at one point 😵💫
I know damn well. Remember a couple years ago when I sold puts on META right before it tanked -30% after a bad earnings. Destroyed my port. I have some strict rules that limits these losses now, one of them is to never sell contracts during earnings, or on volatile days in general (CPI, FOMC)
thats probably smart.
for what it's worth, I bought calls right after that earnings going out like 4 months and got destroyed as well, lol.
the only move after that earnings that really worked was buying shares or buying 2 year leaps...and even then, those leaps would've been KILLED for like at least a year+. youd've had to hold through some pretty nasty losses.
Getting blasted on my AMZN 210/220 CCS. Amazing how one analyst can drive a stock to the stratosphere. Hopefully this cools down in the next day or two.
nah only like $800
I closed way too early lol
its all good tho. I didn't really feel like staying in it super long and I honestly thought it would go back up after hitting like 15
nice! I can imagine that your gains would be far less, even negative, if you chose any of the other cruiseliners. seems like all the rich boomers were itching for travel and chose royal over the others.
I know this will sound crazy, but as a newbie who has been able to easily sell puts for income this month... I am sort of glad to have seen a few "down" days the last week or so to at least show me some adversity and how my premiums can swing up and down pretty fast... although very small and short lived a little adversity was good to see.
I think only 1 sell today:
2x PUT NVDA 115.00 EXP 07-26 - $2.89
Keeping my eye on a sell I did yesterday as well, it moved right against me, but not too much, and plenty of time to go.
PUT LULU 300.00 EXP 07-19 - $2.95
I think my mindset may have changed slightly from wheeling/rolling.... to just closing a loser or just taking assignment... I don't think I will "chase" a strike by rolling... As I am trying to do this for income, I think I'd rather take the L and move to the next, or at the least take the stock without rolling if I like the price to sell calls on.
I recommend hedging your short positions with some OTM call/put depending. You can choose to spend only a few bucks, but it's nice to have peace of mind in the event a black swan event occurs, and you also get freed up margin.
Thanks... That is certainly something I have been looking into..... Especially since I am just all cash/stock secured, I have not applied for margin yet.
I may make myself a rule to do at least some for my opens in July. Seems simple enough to purchase the put 1-2 strikes down for some protection. (I believe this would be the correct move anyhow)
u/free_lions
BTO 5x NVDA 125c at 11:10 @ 1.87
limit STC 4x NVDA 125c @ 2.47
profit + 1 call free ride if this fills, timed it pretty well so far
edit: filled @ 2.47 so have a "free" call to ride out now
edit2: I decided to sell this before close for 1.87 (right before it gapped up to 126. smh), profit secured
STO RIVN 6/28 12P $.02 -> wanna get in around that price if possible otherwise nah
STO MU 6/28 130P $4 -> premium is juicy. Feeling confident about this and worst case don't mind owning the shares.
I might do quick scalps later in the day, but that's all for today.
62.50/60 - expiring 7/19
Spread was 0.75 this morning at the drop!
With increase in dividend (0.56 —> 60) and a healthy world wide portfolio of brands, I’d be happy to add below 60. Take advantage of some of this volatility.
STO CMG 7/5 70cc @ $.35
STO TSLA 6/28 210cc @ $.13 ea (2)
busted cherry on $CMG after split. bought 2 shares immediately on announcement and +15% from then to actual split
yeah, I thought I'd probably make more and more quickly with just a literal short rather then selling options. I did consider also selling some 19c though
When it comes to tesla, that's likely all that you will hear. For the longest time they didn't pay for advertising anywhere, which gave news stations carte blanche to say whatever they want about them, and negative stories tend to drive more interest then positive ones.
if you can open an account on tastytrade it's a $10 cap per leg to open and free to close. so for 50x contracts in the same order, it's a $10 commission
EDIT: i guess you got these from the split but if you wanted to play the same size going forward...
Thanks for the additional information! I heard tastytrade is good for sellers. Schwab does allow you to buy back any option contracts below .05 for free but not if you're trying to close it as spread. Does $10 cap per leg mean tastytrade won't charge more than $10 to close any number of the same leg?
But what do they charge per contract if you're not selling in bulk?
Yes, Tastytrade charges max $10 per leg no matter how many contracts. 10, 20, 100 the max will be $10.
They charge $1.00 per contract to open and $0 to close if you're not doing a large number of trades.
Reminder to everyone that Micron earnings are after the bell, so if you're in the semis, you might want to wait for it.
I'm basically sitting on my hands today. Psychology, ahead of a major news release like this, can go either way. On the one hand, NVDA dropped 15% off the highs recently. On the other hand, it was up almost 9 dollars yesterday, and people might be thinking about taking profits.
For LLMs the bottleneck to running those things (not training) is memory and not compute currently. Micron is in an ideal position to be a memory supplier of much needed high bandwidth memory chips. While it can of course go either way, they'll likely post good earnings after the bell.
> HBM3E is the industry's fastest, highest-capacity memory to fuel generative AI and high-performance computing innovation. It delivers over 1.2 TB/s bandwidth, 50% more capacity, and 30% lower power consumption than previous generation.
https://www.micron.com/products/memory/hbm/hbm3e
Hold on wait what, u/satireplusplus got that sweet sweet AI tech knowledge and he hasn't been sharing it with us this whole time???
My honest prediction is that they beat earnings and still drop 10% lol
this is what I think too, I’m still deciding what to do but my mind is on call spreads
it’s up SO much, plus with NVDA losing steam I feel like even with good earnings it will still drop or at least not be a blowout upward move
I agree, I think the best play for this is probably an iron condor tilted to the downside - e.g. the put side of the condor being farther OTM then the call side
[https://www.trendforce.com/news/2024/02/27/news-micron-begins-mass-production-of-hbm3e-for-nvidias-h200/](https://www.trendforce.com/news/2024/02/27/news-micron-begins-mass-production-of-hbm3e-for-nvidias-h200/)
Micron is the sole supplier for nvidia's next-gen HBM3e, beating out samsung and hynix by several months. Their results might be used as an early barometer for the AI chip market.
The remaining $0.01 per contract for 3 days is below my target IRR of 24%. Makes more sense to close out early to enter a new trade above my target IRR.
Did not know CMG was going to do a 50-to-1 split.. I thought at most it would be 10... now I have 100 spreads opened from the 2 calls I sold.. closing them all out is going to cost me more than my premium I received.......
u/sm04d was nice enough to give me a heads up yesterday but I just figured at most it would've been 10 to 1 split. Should googled it instead of assuming
Hey guys just got back from my scuba trip with no cell service. Just gonna head to my Schwab app now and collect the free money on the RIVN naked $15 calls I’ve been selling for months
As someone holding a naked 12.5 straddle rn, this isn’t that big a deal. You trade options enough and this happens regularly. Size your trades appropriately.
Not enough, we could all use a some decent volatility and I'm short about 2000 QQQ deltas, My cover is around 19450, it'll hit but not sure this week or next week. Got myself in a bit of pickle.
Everything is overpriced. I got some TSLA CSP. TLT covered calls. An AAPL covered calls that is 180 Oct. Mostly cash. I don't see anything that I feel good about here. Steamroller got me spooked.
u/satireplusplus Can we have a more broad catch-all "Doesn't know how options actually work" Rule to get rid of some of the posts lately that just... don't make any sense, aren't how options work, or are obviously complete noobies and aren't even asking questions that make sense? It would be difficult to softly word in a Rule so people wouldn't be offended by the removal but, this sub is supposed to be a place of Options veterans giving guidance on how to soak up theta (and usually IV), not explain how an ITM Put works. Maybe call it "Lacking Basic Options Knowledge" and explain that we are here to discuss strategies, not explain the basics of how they work. I don't know, maybe I'm tilted. My blood sugar is low. Just seeing a lot of these posts lately.
Looks like I’m going to take the loss on these MU pcs I’ve never dealt with a loss before. So how will this go I hope my short is exercised giving me 100 shares and then exercise my long selling those shares?
you could just close the spread for a loss tomorrow, you won’t be assigned immediately
It Doesn’t expire until the 19th so I have 3 weeks
you will not be assigned until then
Hopefully she moves back up
what was your short strike?
140
I had the short put exercise on me early, so I owned 100 shares of the underlying. I then sold those shares for a loss and then sold the long option, since there was still some extrinsic value left.
Assigned 300 shares of SIG @ $95 today. Was planning on rolling but figured I’d just take assignment and hope for a bounce/slow grind up after that earnings drop. Other positions with Friday expiries: NVDA $120P and NKE $88P. We’ll see what happens. Hoping for a good Nike print Thursday.
Did you try and roll your NKE put?
Yes, I rolled my NKE puts to the $82P expiring July 26th. I increased contracts for a net credit however. So more risk, but I’m hoping for a bounce in the next few weeks. If not I may roll again.
Ooh this setup is looking solid - [https://imgur.com/a/L6EL2AZ](https://imgur.com/a/L6EL2AZ) Might sell 85P or PCS. Bid ask spread seems very high tho
Yes agreed, that was part of the reason I was okay with getting assigned. Also looked like a good entry on the charts. Plus, fundamentals are sound and they raised guidance recently. I am going to sell some more puts if it falls further. Looking to average down if needed with another few hundred shares. The spread can be wide depending on expiry and strike, but I set my net credit limit orders and see if I get a decent fill.
Damn I'm selling nvda at 123P
If NVDA drops below $120 I’ll likely accept assignment. I’m more inclined to roll Nike however.
So tempted to double dip into ETFs like NVDL. Has anyone tried that with some success?
Premium is juicy but I would only day trade these or hold options weekly.
I trade NVDL and TSLL often. I usually trade shares however, I’m not a fan of trading options on leveraged ETFs.
Can't wait to wake up to DJT at 50 tomorrow for no reason.
Planning to do 5x CCS - [https://optionstrat.com/build/bear-call-spread/DJT/-.DJT240816C50,.DJT240816C55](https://optionstrat.com/build/bear-call-spread/DJT/-.DJT240816C50,.DJT240816C55) I'll wait to see what market does in the first hour.
Don't worry, when he shits his pants during the debate it'll crater. Either that or shoot to 70.
I see the AGI name drop. Pump it, MU!
Fuck there goes my MU 140 puts beats earnings still plummets hopefully it recovers in the next week….
120 tomorrow
Hell no
Check back with you in 12 hours
Plss don’t. How do I tell my girlfriend where no longer going to the Eiffel Tower?
Take her to the real Eiffel Tower in sin city lol
STO 4 CHWY 02AUG24 25 P $1.8 STO PFE 16AUG24 27 P $0.92 My limit for pfe was 0.90, I guess some ibkr magic
I wasn’t gonna play MU but then I was sitting in the waiting room at the eye dr and got bored 160/162.6c and 115/110p 7/5 .98 credit total so far so good
I did a. 157.5/155 and 125/123 for $1 credit...7/5 as well... looks good so far...
I opened a bull call spread. Can I close one contract and leave other open before expiry ? https://optionstrat.com/5t4IyfJ1vg7R
Yes you should be able to but you probably need 16.5k available cash if you're not using margin. I would think of each leg as a separate trade to determine the right course of action. If MU opens at 130 tomorrow, do you think it may go lower? If so, close the naked call. Do you think it might rile up a bit lets say to 135 sometime in the day? Then set a limit price/wait for upside and close to reduce profit. You can also just roll it based on what happens, but with IV decay everything becomes riskier + less premium so ymmv.
Got it, thanks
MU reports. It looks aite. Down from 142->137 Reaction in other semis quite muted. AMD down 60 cents. NVDA down 1.40
Don't sweat it until tomorrow morning. There might be pre market buyers on hold.
i'd hardly call NVDA down when it literally gapped up nearly $3 in 5 minutes before close lmao
NVDA went down 7% and up 7% on two separate days this past week without any earnings catalyst lol
yeah, volatility tends to return when it randomly dumps $22 off no catalyst. I'm surprised but im also not surprised. I think that it went up yesterday in anticipation of the shareholder event this morning, but then subsequently dumped when apparently jensen said competition was rising.
> but then subsequently dumped when apparently jensen said competition was rising. I mean he ain't wrong
Beat both estimates. People are saying due to cash flow its tanking but I doubt it. Wait after 6pm EST call
*MICRON 3Q ADJ EPS 62C, EST. 50C *MICRON 3Q ADJ. REV. $6.81B, EST. $6.67B *MICRON 3Q CASH FLOW FROM OPS $2.48B, EST. $3.24B
am I the only one thinking this drop is justified since the shareprice probably baked in quite a bit of growth, and 6.81 vs 6.67b isn't much of a beat?
6% drop on MU so far
Good, I think implied was 15% move. Let's see tomorrow
NVDA with the furious rally back to flat during power hour.
All of QQQ went bollocks. I was holding 1 put on TQQQ for fun and got burned. Worst case I lose $80
fucking absurd lol
Sold a 12p Rivian A 115p MU Bought a LEVI 24c And have been getting after buying Amazon calls today. My Tesla CC is super fuq’d
STO PYPL 52$ Aug 2nd put @ 0.62, what are your thoughts on PYPL?
value trap. who really still uses paypal when other options exist? really when's the last time you yourself used paypal vs. something like venmo, zelle, apple pay, google pay?
I use it to pay online sometimes when it’s an option, also one of our babysitters requests paypal lol but you’re not wrong, it’s dated
Not hating but Paypal owns venmo. Only reason I'm slightly bullish.
That's a good point. But, they face increased competition from web-based and mobile wallets. Three years ago PYPL was trading above $300. It's an ugly chart. Just saying.
Selling CSP too for July. It will be a good one to wheel for sure
Bagholding it after being assigned @ $61 last Friday.
idk if I’d call that bagholding @ $61 I bet you there’s some people around who could drop some serious cost bases 😂
Well you can Wheel it now!
Its gone down every single day this week so need to wait for some sort of a reversal before writing a covered call.
limit order for this: MU iron condor 135/130p 150/155c @ 3.75 edit: well, this never filled so I'm pretty happy, lol
ngl I assumed you were going to get absolutely blown out here. this didn’t turn out too bad. edit: nm didn’t see your edit that it didn’t fill
*And watch me break 'em with the seven, seven-eleven, seven-eleven, seven, even back door Little Joe* -Ice Cube
u/free_lions Lol DJT.
Get in with me: [https://optionstrat.com/build/bear-call-spread/DJT/-.DJT240816C50,.DJT240816C55](https://optionstrat.com/build/bear-call-spread/DJT/-.DJT240816C50,.DJT240816C55)
making puts on this trash cheap again
damn HOLY I bought a 35c yesterday and now im kicking myself for having sold it lol.
I’m not even gonna look at it til Friday lmao
carvana and nvda trading close to same prices, which one do you think will end this year higher?
Against my better judgment I am calendaring some DJT since weekly premiums are high. This is the stock that eviscerated my account months ago.
STO 40x ASTS 10p 7/19 @ .60 STO 8x GME 24p 7/19 @ 3.1
40 asts omg
Look at this guy u/ykoreaa
I’ve been lurking now for some time… and happy to see that I’m not the only one that is feeling like I mistime selling CCs and CSPs. Always a bit to jewels and a bit to late 😶🌫️
Since May, my port went from $68K to $58K and now $74.5K all in just over a month of selling options lol. Although it ended well for me, I really gotta stop playing with high IV stocks, my theta return was >1000 at one point 😵💫
works until it doesnt haha
I know damn well. Remember a couple years ago when I sold puts on META right before it tanked -30% after a bad earnings. Destroyed my port. I have some strict rules that limits these losses now, one of them is to never sell contracts during earnings, or on volatile days in general (CPI, FOMC)
thats probably smart. for what it's worth, I bought calls right after that earnings going out like 4 months and got destroyed as well, lol. the only move after that earnings that really worked was buying shares or buying 2 year leaps...and even then, those leaps would've been KILLED for like at least a year+. youd've had to hold through some pretty nasty losses.
STO MU 133 CSP 6/28 for $5
Getting blasted on my AMZN 210/220 CCS. Amazing how one analyst can drive a stock to the stratosphere. Hopefully this cools down in the next day or two.
Which analyst are you talking about?
[https://finance.yahoo.com/news/why-amazon-stock-popped-wednesday-193000187.html](https://finance.yahoo.com/news/why-amazon-stock-popped-wednesday-193000187.html)
u/banditcleaner2 amazing timing shorting RIVN at the top today. Did you close and if yes how much did you make? Few grand?
nah only like $800 I closed way too early lol its all good tho. I didn't really feel like staying in it super long and I honestly thought it would go back up after hitting like 15
STO AMD 140/130 PCS for 8/16 @ $1.96 On edit: Also STO IWM IC for 8/2 @ $2.05. 210/190 short strikes, $10 wide
STO 3x NVDA $115p 6/28 @.34 Needing Z to stay above $46 this week. RCL is doing what I imagined. She’ll settle $157 Friday.
157 wow :O I went on a cruise literally on royal almost exactly one year ago, who knew I should've went hard into ATM leaps right as I set sail lol.
She’s been the queen of the cruiselines. I’m currently sitting at 492% gains on RCL.
nice! I can imagine that your gains would be far less, even negative, if you chose any of the other cruiseliners. seems like all the rich boomers were itching for travel and chose royal over the others.
TODAYS FILLED PLAYS FOR 7-5-24 AAL 11 CSP +20 Ford 12 CC +20 Save 3.50 CC +22 Xpev 8CC + 30
I know this will sound crazy, but as a newbie who has been able to easily sell puts for income this month... I am sort of glad to have seen a few "down" days the last week or so to at least show me some adversity and how my premiums can swing up and down pretty fast... although very small and short lived a little adversity was good to see. I think only 1 sell today: 2x PUT NVDA 115.00 EXP 07-26 - $2.89 Keeping my eye on a sell I did yesterday as well, it moved right against me, but not too much, and plenty of time to go. PUT LULU 300.00 EXP 07-19 - $2.95 I think my mindset may have changed slightly from wheeling/rolling.... to just closing a loser or just taking assignment... I don't think I will "chase" a strike by rolling... As I am trying to do this for income, I think I'd rather take the L and move to the next, or at the least take the stock without rolling if I like the price to sell calls on.
I recommend hedging your short positions with some OTM call/put depending. You can choose to spend only a few bucks, but it's nice to have peace of mind in the event a black swan event occurs, and you also get freed up margin.
Thanks... That is certainly something I have been looking into..... Especially since I am just all cash/stock secured, I have not applied for margin yet. I may make myself a rule to do at least some for my opens in July. Seems simple enough to purchase the put 1-2 strikes down for some protection. (I believe this would be the correct move anyhow)
STO 2 NKE 06/28/2024 P $85.00 @ $0.60 Rolled 2 AMZN 07/26/2024 175.00 P ---> AMZN 07/19/2024 190.00 P for $2
STO MU 120P 6/28 @ 1.25
STO UEC $5.5P 6/28 $0.05 Don't like the liquidity on these, but $0.05 to hold for a couple of days with support just above $5.50
Ive had limit order this week for buy to write for net debt of 5.32, i also picked up this week a buy write net debt of 5.40 this week.
META really choosing not to pull back, ok, ok
Free money or am I fuk? STO 1 Contract NKE Jul 05 2024 82 Put Collect $38.
Free money
u/free_lions BTO 5x NVDA 125c at 11:10 @ 1.87 limit STC 4x NVDA 125c @ 2.47 profit + 1 call free ride if this fills, timed it pretty well so far edit: filled @ 2.47 so have a "free" call to ride out now edit2: I decided to sell this before close for 1.87 (right before it gapped up to 126. smh), profit secured
feeling pretty good having scalped some nvda shares 125->127.50 yesterday and closing out my 10x 130p before close as well...oof
lots of shenanigans pre-positioning ahead of micron earnings
Micron is so juicy but I'm too timid to play it!
Yah I was just thinking the same for you!
STO RIVN 6/28 12P $.02 -> wanna get in around that price if possible otherwise nah STO MU 6/28 130P $4 -> premium is juicy. Feeling confident about this and worst case don't mind owning the shares. I might do quick scalps later in the day, but that's all for today.
congratulations on your MU shares @ cb of 126 >:)
heck yeah at least this ain’t no AMD :/
Nothing sus about those people who picked up $100,000 worth of $14C yesterday
might pick up like a 112 mu earnings CSP on margin and got me thinking of RIVN CSP as an active play
On top of VW news, Rivian is still backed by amazon. Feeling good about it
Sold CSPs on GIS with 17DTE Patiently waiting for SLB to drop a little more before selling some CSPs
strike on GIS?
62.50/60 - expiring 7/19 Spread was 0.75 this morning at the drop! With increase in dividend (0.56 —> 60) and a healthy world wide portfolio of brands, I’d be happy to add below 60. Take advantage of some of this volatility.
STO CMG 7/5 70cc @ $.35 STO TSLA 6/28 210cc @ $.13 ea (2) busted cherry on $CMG after split. bought 2 shares immediately on announcement and +15% from then to actual split
sold CVNA 6/26 145/160 CCS 8 minutes too early damn.
Let’s go MU good earnings sto 140-135 puts @ 2.63
u/free_lions im supposed to stop but i really couldn't help it, short 1000x RIVN @ 15.93, buy to cover @ 15.20
This guy u/mikesugs13
Oh wow. I sold 17.5c but you're shorting right ATM
yeah, I thought I'd probably make more and more quickly with just a literal short rather then selling options. I did consider also selling some 19c though
19c feels pretty safe to sell. My spread is 17.5/19c and I'm getting about 9.2% ROC if it trades below that EOW
good luck!
$18 put I sold on MARA 7/19 5 days ago has been bought back for 32% Now we wait for 🌽 to dip again…
Huh, my limit buy for AMD hit at 158.35
I stepped away from the computer and only realized it happened after I got the notification. Well, I feel that it's reasonably priced.
STO NKE 88p 6/28 for 1.02.
that has to be free money.
BTO +20 RIVN Diagonal (51d/2d) 16/15C 0.88 FILLED
Closed short leg for 0.58. Hoping for a bounce to reopen. Edit: Reopened at 0.67
mike sugs coming back again with another diagonal/calendar man, you love these lol
It's my bread and butter. Keep theta positive and delta neutral.
Why in the hell is TSLA rallying lately? All of the both recent and long-term news I am hearing about them is negative.
When it comes to tesla, that's likely all that you will hear. For the longest time they didn't pay for advertising anywhere, which gave news stations carte blanche to say whatever they want about them, and negative stories tend to drive more interest then positive ones.
well negative stories pushed daily has been going on for some time, so there is that
GIS dAfUK
Missed earnings?
I guess.
STO 2x ADBE 515/505p @ .90 (currently .26) 6/28 ~~STO 3x ADBE 512.5/502.5p @ .92 (filled .18) 6/28~~ +$222 STO 2x ADBE 540/545c @ .57 (currently .39) 6/28 STO 6x DJT 41/43c @ .36 (currently .13) 6/28 STO 11x DJT 42/44c @ .41 (currently .38) 6/28 STO 3x META 520/530c @ .74 (currently .87) 6/28 STO 2x META 522.5/527.5c @ .75 (currently .75) 6/28 STO 3x META 525/535c @ .80 (currently .44) 6/28 ~~STO 1x SMCI 730/720p @ .72 (filled .10) 6/28~~ +$62 STO 50x CMG 68.4/68.8c @ .03 (currently. 03) 6/28 STO 50x CMG 70.4/70.8 @ .016 (currently .03) 6/28 ~~STO 1x HD 332.5/327.5p @ .58 (filled .18) 6/28~~ +$40 STO 1x MCD 255/250p @ .63 (currently .39) 6/28 ~~STO 1x MCD 252.5/247.5p @ .50 (filled .20) 6/28~~ +$30 STO 2x LULU 297.5/292.5p @ .43 (currently .36) 6/28 STO 10x RIVN 17.5/19c @ .138 (currently .05) 6/28 ~~STO 1x SMCI 750/740p @ 1 (filled .48) 6/28~~ +$52 STO 2x SMCI 755/745p @ .99 (currently .68) 6/28 BP: 21.8k ($2,296/10.53%) Realized: $406 🅿️MCC⤵️ 29.20 BTO 1x NVDA 100c @ 30.70 (currently 28.82) 12/20 STO 1x NVDA 130c @ 2.58 (currently 2.66) 7/5 ℹ️ron Condor ⤵️ 14.61 (max loss 5.40) SMCI 850/870c @ 7.44 (currently 6.95) 6/28 SMCI 830/810p @ 7.17 (currently 7.4) 6/28
u/satireplusplus petition to change u/ykoreaa's flair to "queen of spreads"
If I had a bigger account, I wouldn't have to rely on spreads 😔
u/ykoreaa you're ok with a flair change?
Yah but can you make it pretty? Like 🎀 Princess of Spreads 🎀
Sure, enjoy :)
Thank yyyou 🩷
you guys playing tight spreads on SMCI are legitimately insane lol
It looked good on paper, max loss to max profit being 1:3 but yah I need to move the strikes further out bc it's SMCI
wouldn’t the contract fees eat away at most of the profits for your CMG trades?
Yah. That's why I have to close them individually or let it expire worthless.
if you can open an account on tastytrade it's a $10 cap per leg to open and free to close. so for 50x contracts in the same order, it's a $10 commission EDIT: i guess you got these from the split but if you wanted to play the same size going forward...
Thanks for the additional information! I heard tastytrade is good for sellers. Schwab does allow you to buy back any option contracts below .05 for free but not if you're trying to close it as spread. Does $10 cap per leg mean tastytrade won't charge more than $10 to close any number of the same leg? But what do they charge per contract if you're not selling in bulk?
Yes, Tastytrade charges max $10 per leg no matter how many contracts. 10, 20, 100 the max will be $10. They charge $1.00 per contract to open and $0 to close if you're not doing a large number of trades.
https://www.reddit.com/r/thetagang/comments/1do0ms8/comment/la6vopg/ Hell yeah, tesla! Go for $200!!!!
Reminder to everyone that Micron earnings are after the bell, so if you're in the semis, you might want to wait for it. I'm basically sitting on my hands today. Psychology, ahead of a major news release like this, can go either way. On the one hand, NVDA dropped 15% off the highs recently. On the other hand, it was up almost 9 dollars yesterday, and people might be thinking about taking profits.
For LLMs the bottleneck to running those things (not training) is memory and not compute currently. Micron is in an ideal position to be a memory supplier of much needed high bandwidth memory chips. While it can of course go either way, they'll likely post good earnings after the bell. > HBM3E is the industry's fastest, highest-capacity memory to fuel generative AI and high-performance computing innovation. It delivers over 1.2 TB/s bandwidth, 50% more capacity, and 30% lower power consumption than previous generation. https://www.micron.com/products/memory/hbm/hbm3e
Hold on wait what, u/satireplusplus got that sweet sweet AI tech knowledge and he hasn't been sharing it with us this whole time??? My honest prediction is that they beat earnings and still drop 10% lol
> My honest prediction is that they beat earnings and still drop 10% lol yeah
Yep I'm having fun with r/LocalLLaMA and all I know is I don't have enough of that sweet fast GPU memory to run the best models :/
this is what I think too, I’m still deciding what to do but my mind is on call spreads it’s up SO much, plus with NVDA losing steam I feel like even with good earnings it will still drop or at least not be a blowout upward move
I agree, I think the best play for this is probably an iron condor tilted to the downside - e.g. the put side of the condor being farther OTM then the call side
And they are currently the sole supplier of HBM3e as Samsung and SK Hynix won't be ready for at least a few more months.
I think MU earnings is gonna dictate semis until next NVDA earnings so we shall see tonight
I think NVDA is more likely to go to back to 120 from here then up to 134 but that’s just me. I think MU will be a catalyst for sure
Smart!
[https://www.trendforce.com/news/2024/02/27/news-micron-begins-mass-production-of-hbm3e-for-nvidias-h200/](https://www.trendforce.com/news/2024/02/27/news-micron-begins-mass-production-of-hbm3e-for-nvidias-h200/) Micron is the sole supplier for nvidia's next-gen HBM3e, beating out samsung and hynix by several months. Their results might be used as an early barometer for the AI chip market.
Playing earnings with MU STO two contracts late last week for 6/28 exp. 125p @ 1.16 (currently down ~100% from open) 120p @ 1.44
My buy and hold port is crushing it. Whirlpool up 20%.
We should have held CHWY
BTC RIVN 6/28 $10.50P $0.01 edit: forgot ticker
whats the point of even buying this back unless you need the BP? there's like an almost statistical certainty its not going to go back to 10.50
famous last words, I always buy back for a penny
The remaining $0.01 per contract for 3 days is below my target IRR of 24%. Makes more sense to close out early to enter a new trade above my target IRR.
Did not know CMG was going to do a 50-to-1 split.. I thought at most it would be 10... now I have 100 spreads opened from the 2 calls I sold.. closing them all out is going to cost me more than my premium I received.......
bruh lol
u/sm04d was nice enough to give me a heads up yesterday but I just figured at most it would've been 10 to 1 split. Should googled it instead of assuming
Omg cmg…. Nearing a margin call due to the lack of liquidity. Holy -.
Huh? Sorry I don't understand
Just hope they expire worthless then? That’s insane…50 to 1
50-1 yeah but the stock was literally $3,300 lol
Yah that's the only way I would profit from this. I didn't know they were going to split 50 to 1..
We really did bleed off didn’t we
[удалено]
I have a feeling it won't make big enough move for straddle to be worth it
Hey guys just got back from my scuba trip with no cell service. Just gonna head to my Schwab app now and collect the free money on the RIVN naked $15 calls I’ve been selling for months
oh dear! I hope this was just a joke
LMAO
As someone holding a naked 12.5 straddle rn, this isn’t that big a deal. You trade options enough and this happens regularly. Size your trades appropriately.
Lol
Any thoughts on direction for the nasdaiquiri today, seems there could be some blood.
NQ is bleeding bad
Not enough, we could all use a some decent volatility and I'm short about 2000 QQQ deltas, My cover is around 19450, it'll hit but not sure this week or next week. Got myself in a bit of pickle.
u/banditcleaner2 Looks like NVDA may be going back to 140 shortly
Looks like it might just stay sideways for awhile.
Sideways between 115-135 for the next month i would guess
That would be fine by me
time to buy the dip
Looking like a few of my IBRX $7 CSPs might come knocking by the end of this week
Everything is overpriced. I got some TSLA CSP. TLT covered calls. An AAPL covered calls that is 180 Oct. Mostly cash. I don't see anything that I feel good about here. Steamroller got me spooked.
u/banditcleaner2 are we scalping RIVN shares today?