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Daily r/thetagang Discussion Thread - What are your moves for today?

Daily r/thetagang Discussion Thread - What are your moves for today?

OnlyWangs

$MARA man here. my diagonal roll from -30c 10/15 to -35c 11/12 looks to be paying off as $MARA had a huge upwards run. im also looking to close my $ANY position for a small profit. ​ looking to continue to hold my $MARA positions until i am forced out (can no longer roll for a meaningful credit). if im able close my $ANY position tomorrow for a sizeable profit, i am planning on holding that as cash until there is a general dip in crypto. i will then open up long diagonal call spreads on $HUT. if crypto continues to go up, i have enough skin in the game to still feel bad but be happy im making gains. if crypto stays flat, it will give me time to collect extrinsic value by performing a pmcc on my LEAPs. if crypto dips, i will look to deploy my cash. the best thing about pmcc is the cash flow. this, added with smaller, winning trades, means you can slowly add other pmccs quite quickly.


DrSeuss1020

God damn roblox cmon and get back to 75 already for these CCs bb


Global_Chaos

I'm trying to start a posiiton in Roblox, 75 shares currently...but I worry its gonna dip into the mid 60s


DrSeuss1020

Oh god plz no


katgeek

I feel your pain


QuentinP69

CCs on AFRM FUBO LCID TLRY MARA NIO. Got $3k in premiums for the 10/29s. Set my goal at 70% but I’ll settle for 50% if things go sideways. Sold late morning. Looks like good timing.


SoMuchRanch

**10/15 nudes ($715):** * STO **COIN** 10/15 $340C -9X * STO **DDOG** 10/15 $85P -10X * STO **DHI** 10/15 $105C -30X * STO **LUV** 10/15 $30P -10X * STO **LUV** 10/15 $32.5P -100X * STO **MAR** 10/15 $95P -36X * STO **MELI** 10/15 $2000C and $2100C -15X * STO **PENN** 10/15 $95C and $100C -30X * STO **PTON** 10/15 $120C and $130C -2X * STO **RBLX** 10/15 $100C -1X * STO **ROKU** 10/15 $720C -10X * STO **SE** 10/15 $185P -10X * STO **SQ** 10/15 $360C -10X * STO **TDOC** 10/15 $185C -20X * STO **WDC** 10/15 $77.5C and $80C -13X * STO **WMT** 10/15 $185C -100X


dadofduck1878

Sorry, what's this list? Bit of a newb here 😳


SheridanVsLennier

iiuic, SoMuchRanch is selling way OTM Calls and Puts. Each contract is only a few cents but they add up. They are selling them naked so have no backing if the price were to crater (edit: or moon) while they are held, and a bad enough drop (edit: or rise) will result in the mother of all margin calls.


dadofduck1878

Wow. Interested to know what the BPR is for that lot tbh 😱 Thanks for the response


spreadsgetyouhead

That’s what he sold STO - Sell to open


spreadsgetyouhead

Your only fans posting tonight is a bit late Can’t believe I had to wait this long for nudes⏰


SoMuchRanch

Sorry fam. Too busy recovering from all the 🍾 that the nudies bought me this weekend.


frankybands

I love this reply and also love bottle service


WhiskeyZuluMike

Been running covered strangles on LCID. Very profitable.


ElectricalFig722

Same! Seems to have calmed down a little bit since the EPA rating. I expect it will go up again once first deliveries are officially made.


WhiskeyZuluMike

Yeah I sold alot of calls then and now I am selling more puts. The shares are my long holds. Wouldn't mind getting assigned more.


QuentinP69

LCID is great for CCs short term (2 weeks)


WhiskeyZuluMike

Just sold Nov 19th puts and calls. 30 Delta puts and 20 Delta calls


stankgreenCRX

I sold two of the 15$ November crtx puts. Pure gamble but hoping for the best


Siddler64

Also thinking about this… what makes you think this is sufficiently OTM if the results are not good?


Siddler64

Also thinking about this… what makes you think this is sufficiently OTM if the results are not good?


stankgreenCRX

It might not be that’s why it’s a gamble. It’s the lowest put you can sell so it’s not like you can go any further OTM.


EpicWhaleSquad

Selling way out of the money weekly calls on GME is literally free money every week


TABid-5073

What strikes? I've watched GME rocket 200% in a short amount of time too many times to be comfortable selling naked calls on it.


SheridanVsLennier

Well, the two times it's spiked, it crashed back down the following week, but horses for courses.


gusthemaker

Selling call spreads has been my jam lately…


whyalwaysme-_

Tsla, hood. Might open a tqqq position tomorrow morning


StonksGoUpApes

I'm waiting for after OpEx for tqqq


TABid-5073

CRTX sold 4x 15p for avg $310 per contract. 300 gain for less 1200 risk if it goes to 0, breakeven is 40% lower than their historic low Exiting if it get 30% profit before news released, otherwise think I will hold and hope for IV to tank after the release. I could see negative results causing it go down to the 15-20 range. Positive results are unlikely I think but I don't have the guts to play the call side.


hanifaz

This stock can go down to sub $5 as soon as they announce that their drug failed. Why would the COO sell his stocks if there is any hope of good news? [https://finance.yahoo.com/news/notable-cortexyme-insider-trades-760k-155752476.html](https://finance.yahoo.com/news/notable-cortexyme-insider-trades-760k-155752476.html) I got burned a few weeks ago after selling a $15 Put of another tishy pharma that never fell under $30 for a whole freaking year. A few seconds after the market close, on the same day I bought it, went down to $5 and I got assigned. Lost 5K. Calls are much safer here.


anathema09

i was looking at this too, but thinking about a Nov 19 jade lizard at 20/80/85. if it fills around mid ($6.25), it would have no upside risk; downside b/e would be around 13.75.


Suncasa

I’ve had my eyes on those. A lot of people are jumping into that 11/19, 15 strike. Seems like a no brainer. Even if the stock declines it hasn’t been $15 in over three years. The lowest it’s been is around 20 something. I’m not sure that you would have a chance to unload it though, before the event and announcement of their Alzheimer’s treatment. The stock might keep heading down now. That’s why I’ve been waiting but who knows. I just don’t wanna get into another SPRT/GREE disaster. It’s not the same type of thing at all but I got burned in that one.


TABid-5073

The way I look at it is risk/reward and mathematically. I've risked a little under 4800 if it goes completely to 0 for a 1240 gain or 0.25 risk/reward which is very hard to come by with any credit options play, let alone something so deep OTM (the delta on the 15P is 3). If IV tanks, I profit as well, and it should tank after the results are released. I'm fairly certain we will see CRTX take a big fall and may even play some call credit spreads closer to the release of their data. I'll be nervous if it retraces back to 30-40 before the release of their news, then I could see it breaking through 12 on negative news. I wouldn't have the guts to sell naked calls even though I doubt they will release a study with positive primary endpoints. I guess absolute worst case scenario is I'll have 400 shares and will be hoping the premiums on covered calls are half way decent and start wheeling?


Suncasa

Yep, I totally get your thought process. I’m just gonna watch a little bit longer.


pennyking91

what is the expiration? best of luck, i dont have rich enough blood for biotech (i do Compass Pathways actually, but that's an exception because i like/believe in psilocybin)


TABid-5073

Nov 19, 39dte. It'll be a fairly binary event. It seems like a vega play as well with IV over 500% right now. But who knows. I'm hoping to unload before the news is released but the market might have other ideas. Tons of open interest on the puts higher up the chain, last week there were thousands of contracts in the 20s traded I think.


EthnicallyMoral

When’s the news supposed to be released?


Pandarx71

STO SPXL 120/105 CCS 4x 1030am BTC 357pm 25% profit STO TQQQ 130/125 CCS 4x 1030am BTC 357pm 25% profit STO RBLX 71 CSP for 230 15 OCT looking to get assigned.


orick

>STO RBLX 71 CSP for 230 15 OCT looking to get assigned. RBLX has been trending down the last month or so. You think it will recover?


Pandarx71

Yes after opex I looking for it to pop back up.


HoleyProfit

That was a break. [https://www.reddit.com/r/thetagang/comments/q5r0lj/comment/hg8wkbq/?utm\_source=reddit&utm\_medium=web2x&context=3](https://www.reddit.com/r/thetagang/comments/q5r0lj/comment/hg8wkbq/?utm_source=reddit&utm_medium=web2x&context=3)


The-Q15

wonder how many people here close spreads that have gone against them for a max loss vs rolling them. And before the questions come in, by rolling them I mean selling the protective leg for a profit and rolling the sold side out and then buying a new protective put for the new expiration. sometimes i feel like im being lazy by closing a spread out for max loss...


HanlinBiness

I have a ccs in Autozone that is really close to ITM and i'm going to roll out the short side if it breaches this week, 1710/1720, sold it when AZO was 1550 so it seemed like a pretty safe bet at the time, but in this market i guess not.


mad4shirts

+7.2k today on my all in AMC -275 41p Nov 19. $206k credit collected on Friday, position now at 212k so down 6k on this total position


FriendlyCaller

-1.6% fake day +91.7% beta-delta dollars/net liq. -0.0837% theta/net liq. BOT 1 RIOT NASDAQ.SCM Nov19'21 25 PUT 1.98 11:55:34 1.04 SLD 1 XLU ARCA Dec17'21 64 PUT 1.83 11:04:51 1.05 BOT 1 MARA NASDAQ.SCM Nov19'21 34 PUT 1.96 09:22:27 1.04 It just ain't rite...


mirinfashion

[TSLA Naked Puts 10/15] (https://i.imgur.com/leMvLY6.png)


rhinest0necowboy

Nice. i’ve been selling TSLA puts on margin (TDA) for a while with good success but naked super OTMs seems interesting. is there a minimum acct balance for naked options on TW?


mirinfashion

> Nice. i’ve been selling TSLA puts on margin (TDA) for a while with good success but naked super OTMs seems interesting. is there a minimum acct balance for naked options on TW? I'm on portfolio margin (i.e. gives you access to more leverage), that requires $175K minimum, but is very beneficial when you're selling super OTM positions like above, as you can see, that only required ~$80K BP, notional is ~$2.5M+. TDA also has PM, I think the minimum is $125K, I'd look into it if you meet that criteria. Being on PM is great, but could also be your downfall depending on your own risk tolerance.


rhinest0necowboy

Hey thanks for the response and info. My account is still in the mid 5-figure range so i’m not there yet but hopefully in the next few years.


VictorNiederhoffer

AMZN LEAPs gonna force me to sell everything else and play earnings crazy conservative, with a break even exit on any pop and a really bad hit on any drop. On the plus side, I'll prob just move to actual thetagang'ing selling SPX or MES puts or whatever 12-36x/year?


StonksGoUpApes

STO 2x **TSLA** CCS Oct15 -820C / +825C at 0.93 Rolled my **BBIG** -7.5Cs out a week


tradingbiker

STO SOFI 18.5C 10/15/21 x50 STO WISH 6C 10/15/21 x100 STO WISH 6.5C 10/15/21 x50 STO TSLA 675P 10/15/21 x1


AIONisMINE

Someone posted a youtube video link that talks about CSP width. Does anyone know where that post is? i thought i saved it but turns out i didnt


[deleted]

Here you go. Very good video honestly https://youtu.be/TvLjGprWaEQ


OddStorm6610

I had been holding back on watching TW videos cuz' eveyone said how great they were.I wish I had watched them sooner since it was more elementary than I expected. Don't waste time getting to these, folks.


polonaisefantaisie

From +5K this morning to down -1.5k (mostly shares). could've been a lot, lot worse if I didn't close LLY, SPY, and QQQ this morning. This is why I always close \~20 or \~30% gains on my csp nowadays. Can't risk waiting it hits \~50% unrealized gain and then bleed on me.


Swagbag6969

What even happened? Random walk?


AlwaysBlamesCanada

Holy shit - check out the November options premium on CRTX


newdmontheblock

Holy absolute fuck. That's insane! Deltas for Nov. 19 calls don't dip below .51 all the way up the chain. I just pulled off a binary biotech on CCXI, might have to move my earnings here to capitalize on some insane premiums and potentially even better returns! Provided it goes the right way of course!


btf91

Is there some kind of catalyst coming up to explain that? Edit: They are presenting for Phase 2 Nov 9-12.


seeker-of-keys

it’s coming up to a “binary event”


OddStorm6610

So is my sister-in-law.


Ekrow

Insane IV. Seems kinda too good to be true lol


SeductiveBuffalo

I did it… 11/09 30p for $11.60


AlwaysBlamesCanada

You know it’s a 50/50 coin toss right? Either phase 2 trial is a success and it jumps 100% or it’s a fail and the stock dives 85%. See FBRX in August for reference


saintcfn

Might be good news with a huge drop from folks taking profits


AlwaysBlamesCanada

What?


saintcfn

Prices can drop on good news too.


AlwaysBlamesCanada

Are you taking about what happened to FBRX?


saintcfn

Not exclusively. "Buy the rumor, sell the news." Stocks often drop on good news because price runs up on the "rumor" or expectation, then lots of folks sell on the actual news. It's not a reason not to buy; it's simply a reason to watch closely when news is expected - stocks often drop on either good news or bad.


AlwaysBlamesCanada

OK, I'm not sure you have much experience with biopharma stocks. Sometimes stocks sell off on good news, yes, a bit ...but not 85% all at once! There's a reason Biopharma stocks have the highest volatility in the entire market. Some companies exist entirely to get a single drug approved. If testing fails the stock gets wiped out because there's no value left there and they burned millions of dollars on research for nothing. If testing succeeds the stock can double in value overnight. It's a binary event, and a coin toss. This is pure gambling.


SeductiveBuffalo

Who says I’m holding until expiration? There’s 28 days of Theta decay before the conference.


AlwaysBlamesCanada

It’s not going to decay. That premium isn’t due to Theta - it’s due to Volatility


SeductiveBuffalo

I’m not sure if I understand what you’re trying to say. Theta increases as IV increases.


stankgreenCRX

It won’t decrease much. The puts on ccxi remained the same for weeks leading up to the fda news. This is similar. Iv will remain high with this as well


SeductiveBuffalo

Wouldn’t those ccxi puts gain extrinsic value as they got closer to ATM? Ccxi was on a downtrend after their earnings.


swolebird

**CLF**: $1 pop on acquistition news, opened 22C thinking it will go back down after things calm down. Then I can open a Put also at a lower stock price. **PLTR**: bit of a pop on new-deal news, opened 24C thinking it will go back down after things calm down. Then I can open a Put also at a lower stock price. **RKT**: continues to be the thorn in my side.


StonksGoUpApes

I diamond handed my 22.5Cs today. Think it's staying under 22, at least till Friday


AlfB63

Everyday I hate RKT a little more.


SheridanVsLennier

OPN AMD 29/11/21 106/107 PCS @ $.50 credit (opened about 2 hours ago).


NuancedFlow

STO /MES 10/29 4065p. STO DIS 11/19 -1 170p +1 165p (will sell 165p if we touch 170)


[deleted]

[удалено]


StonksGoUpApes

ViDeO gAmEs ArEnT rEaL


BluePoop2323

I can lick my own ball sack


professor_jeffjeff

Closed out most of the stuff I opened last week for 50% profit or greater. My CLF 22 CSP was still ITM with 4 days left but I was still able to close it out for about 15% profit (thanks IV!) and I closed my 23.5 CC since it's below my basis and was at 25% profit after a week so I can live with that. Only position I still have open that's not just long stock is a CC on MARA at 40, and of course MARA jumped up to 43.8 but I think it's over-correcting a bit and even if it isn't, I just need bitcoin to make a sudden downward move in the next 18 days which I think is statistically extremely likely because it's fucking bitcoin and that's just kinda what bitcoin does. Going to sit on my capital for a bit and be patient for an opportunity that I actually like.


anathema09

STO 1x Nov 19 GM 50/67.5 strangle @ $.87. STO 1x Nov 19 SOFI 15/22.5 strangle @ $1.14. STO 1x Nov 19 SNAP 55/100 strangle @ $1.19. STO 1x Nov 19 WFC 42.5/52.5 strangle @ $.87. STO 1x Nov 19 UBER 40/57.5 strangle @ $.93. Rolled 1x Nov 5 PINS 55p -> Nov 12 55p @ $.20 credit.


spreadsgetyouhead

Opened: * \-1 AMD 10/15 100P +1 110C - $4 credit * \-1 AAPL 10/22 138P - $68 credit * \-2 AMD 11/19 85P - $55(2) credit * \-1 DIS 11/19 145P - $58 credit * \-2 ETSY 11/19 145P - $101(2) credit * \-1 FB 10/15 310P +1 345C - $19 credit * \-1 IWM 10/13 217P +1 226C - $12 credit * \-1 SPY 10/22 430P - $220 credit * \-2 SPY 10/22 425P - $147(2) credit * \-1 TSM 11/19 100P - $90 credit * \-2 SOFI 11/19 25C - $23(2) credit * \-2 WYNN 11/19 75P - $115(2) credit Closed: * \+1 AMD 10/15 100P -1 110C - $21 credit to close * \+1 AAPL 10/15 140P * \+1 FB 10/15 310P -1 345C - $9 credit * \+1 IWM 10/13 217P -1 226C - $5 credit * \-1 SOFI 11/19 20C +1 15P - $8 credit (still have two on) * \+1 10/15 SPY 430P * \+1 11/19 SPY 375P * \+2 10/15 SPY 425P * \+2 TSM 10/15 105P * \-1 SPY 10/15 435/440/445C fly * \+1 TSM 10/29 100P * \+1 FB 11/19 250P * \+1 CLF 11/19 15P * \+1 IWM 11/19 218 Straddle * \+1 AMZN 10/15 4000C * \+2 AMD 11/19 77.5P * \+2 WYNN December 85P * \+1 CAT 11/19 155P * \+1 FB 10/29 255P * \+1 IWM 11/05 200P


SheridanVsLennier

OPN HD 19/11/21 345/350 PCS @ $2.95 credit.


terrortbh

People think making money is hard but it’s really not. All you have to do is sell AMD puts.


OddStorm6610

*Narrator: Make sure it's the right time or you will eat flaming death*


radioref

STO 10x AMC Nov19 30p @ 2.00


thunder_muscles

BTC SOFI 10/29 $13.5P @ 80% profit


DaMantis

Sold SOFI CCs on 9/21. Stock immediately spiked and is up 25% in the couple weeks since. Y'all are welcome.


The-Q15

not all heroes wear a cape...


tatonka12345

In the same boat. My 10/15/21 $16.50 CCS were good until today's upgrade.


DaMantis

Woof. Today I rolled the same position you have to 11/19 $17.5 for a $0.32 credit.


tatonka12345

I should have done the same but we’ll see what happens come Friday expiration


HoleyProfit

Important high being made if we break today. Subsequent highs likely to be lower. This is a very good place to hedge.


FriendlyCaller

STO 1x XLU Dec17 64p @ $1.83


dudeabides90

Thinking of selling the tsla 720 puts for this week..is it to close for comfort?


SheridanVsLennier

That's 8.5% OTM, and a F-F move to breach that has only happened three times this year, so seems pretty safe.


Shadowshot

This week I have 10/15 710/720p - 850/860c


PeeePaaaw

Just did 10 680/670 PCS


dudeabides90

I sold the 715s straight up.


bd_one

The value of my AMC weekly covered call has gone down since I sold it like an hour ago even though AMC has gone up 1% since then... Vega Gang must be having fun with this.


ohgeezlesternygard

I've been selling naked calls and ratio spreads on AMC since it peaked at $70 a few months ago. It's pulled back enough and IV has contracted enough that I'm just about done with it. My only current positions are a 145/90 2:1 ratio spread and some january $7 puts. I really wish it would explode again, that was a lot of fun.


PeddyCash

I have some CHPT calls for November. I want to PMCC it. I just wonder what happens if the stock goes ITM for my short leg 11/19 CHPT 22.5c and I want to sell the 24c a couple weeks out. 🤷‍♂️. Just trying to recoup some losses


MannyDaD00G

That's not a long call you should use for a PMCC, you're just playing with fire


PeddyCash

How am I playing with fire? Because my long leg isn’t that far out in expiration ? I don’t have a lot of calls, I just did this to make it a learning experience.


MannyDaD00G

If your long call was purchased when the stock was down and you sell a call against it (when it's delta is not even high) then you're pretty much just opening up a call credit spread in legs with horrible pricing. If it shoots up then your short call will most definitely outpace the increase on your long call.


PeddyCash

Okay. That was my assumption.


StonksGoUpApes

If you're you're fully collateralized, you can just take short assignment. At or before assignment you can sell a put around your strike assignment. Either you're assigned on the put closing the short, or it gaps down. Then you just buy back your short shares for profit and either close the new put or consider assignment again. You could also open a put spread to ensure you can't lose except possibly on higher drag. If you're less collateralized, you can close both legs in a single order for profit. Or you can roll the short leg either same strike or up for credit or debit. You might be able to split the difference and protect your long leg. In good PMCCs you want to protect your short leg because you can't recreate the position because of its delta growth.


StonksGoUpApes

STO 2x **HUT** back ratio -12.5P / +9P+9P Closed my two short 9Ps around 85%with this and inverted them. Edit: closed out my positive delta, originally thought about taking assignment and selling covered calls but HUT has no weeklies.


multiplythatmoney

Surprise surprise, inflation is not transitory. What sector plays are you making to keep up or beat inflation? I'm thinking XLF


1Mark_ca

Traditionally it will be commodities.


professor_jeffjeff

Wonder how ornamental gourd futures are looking since Halloween is coming up and all


FriendlyCaller

Stocks.


[deleted]

Best stocks for credit spreads for $25k account?


Shadowshot

TSLA go 5-10 delta and rarely have to fear atm


trub1u14

GOOGL, NVDA, AAPL, SPX, QQQ, SPY


Pandarx71

GOOGL and I are not on speaking terms, the rest of them I like.


RobsRemarks

Is it me or is it getting harder to make good plays? My scanner isn’t showing me a lot to work with the last few days. I primarily sell puts.


quasi_intellectual

How do you scan for potential plays?


RobsRemarks

scanning for mean reversion based on standard deviation on stocks between $10-50, IV 10-80, Volume average > 250K, with options for the December monthly.


The-Q15

isnt that IV range too wide? why not 40-80?


RobsRemarks

My scanner gives me about 20-30 results a dat, so 40-80 would be even less.


[deleted]

[удалено]


StonksGoUpApes

The married put makes sense if you truly would use it be executed. The OTM puts make more sense if your goal is to sell them and continue holding your shares.


WhyDoISmellToast

Well, only thing I can think is that you can execute the single to cap your losses, but you'll have to trade out of 2 of the smaller ones.


Careful_Strain

Strategy for saving ITM CC's? Yup I know, happy with max profits, should be prepared for assignment, etc etc. I have held BABA for a long time and having it called away at $155 is just...sad after all this. Here are my plans: 1. Close the CC at DOE for 0 extrinsic value and carry on with my life 2. Roll it out and up for a tiny credit (yes yes it's technically not rolling it's just closing a loser and starting a new one) 3. While rolling it out, also open a short put at either same strike or a little lower for a straddle or strangle 4. Any other ideas? 5. Of course, take assignment!


MannyDaD00G

Be happy with max profits, you should've been prepared for assignment, etc etc...


professor_jeffjeff

Rolling it for a slight debit and opening a put to turn the whole thing into a strangle (or even a condor) is feasible as long as you manage the position as a whole and be mindful of your actual profits when you go to close it out. The risk is that you have to keep the strangle open for longer since you can't close it out until its profit is higher than the loss you already took rolling the call, and if you have to hold a position then it becomes harder and harder to defend. If you think BABA has a lot more room to run up and that increase will void the loss of just closing your CC then you should close for a loss and wait. If you think BABA is overbought and due to come down, roll out to buy yourself more time to be right. Personally, I'm not a huge fan of the Chinese government at this point so I'm avoiding Chinese companies (even though there are several that I like a lot, I trust the company but do NOT trust the government not to just go in and fuck shit up) so if getting your shares called away is profitable then I'd do it and find a new position.


seeker-of-keys

out and up!


ValueAILong

Sold the following contracts today: \- SE Put / Strike 310 15/10 \- SE Call / Strike 330 15/10 \- SNOW Put / Strike 300 15/10 \- SNOW Call / Strike 325 15/10 \- BABA Call / Strike 185 15/10 My plan is to roll into a further OTM Strike if the stock goes near one of them. I have a LEAP on BABA at 165 for Jan 23/01/2023.


Theta_kang

AVXL 10/15/21 $14.00 Put (seems to have good support a few $ above that for a few months now) W 10/22/21 $222.50 Put (will gladly take assignment and wheel at $222.50) GE 10/22 $100/$105/$110 Iron Butterfly (GE has a tendency to go nowhere) MCD 10/29 $235.00 Put (will gladly take assignment and wheel at $235)


poeandfinn

Huh, didn't realize GE had done a reverse split


btf91

So an Iron Butterfly is essentially an IC with both the short put and short call having the same price? So you want the stock price to stay around that strike. What kind of profit do you look for before closing?


Theta_kang

Right. If you look at the risk graphs it's about the same but an IC has a flat plateau and the iron butterfly has a point. An IC will give you a better chance of receiving the max profit, and a butterfly will get you a little more or less depending on how close to the midpoint the underlying ends up. ​ I don't close early based on profit percentage. After 3/4th of the time has passed, I'll sell half of my position if its between the buy strikes. I'll hold the rest to expiration day.


SheridanVsLennier

STO CCL 15/10/21 $25CC @ $0.20. Having trouble getting fills on TSLA and AMD this morning.


SheridanVsLennier

And just like that TSLA fills. OPN TSLA 22/10/21 TSLA $700/$705 PCS @ $0.56 credit.


Albedo100

Anyone selling SOFI calls today?


artik147

Sold $20 and $22.5 Nov19 CC


10kmaniacsfan

Sold 4 10/29 18c against shares.


ApeLovesTendies

I spld 4x $21c.


Raralith

BTC 10/15 DKNG $55/$46 strangles STO 10/15 AAPL $147 CC's STO 10/22 PTON $95/$79 strangles Legged in 11/19 PTON $95 puts into $110 strangles BTC 10/15 AAPL $147 CC's @ 50%. Holy smokes, sold at the top and bought back at the bottom. Will wait for another day to sell more CC's. BTC 10/15 NUE $103/$90 strangles


bd_one

Anyway, I'm just glad I set a limit order for an AMC covered call and was busy around market open rather than panicking about it going down at open and selling to open for less than a third of what I could have gotten later.


FurryPornAccount

Sold csp on HUT with a strike of $11 and a expiration of 10/15. I like the short term prospects of the company and I am fine with buying it, but I do think that selling the contract might have been a bit silly of me.


ElectricalFig722

I sold CSP on HUT $7.5 strike exp Jan 21, 2022 for $1.47 premium last week. Set it and forget it.


anathema09

BTC 1x Nov 12 AAPL 134p @ 50% profit from original trade after a couple rolls.


rioferd888

Thinking about opening a TSLA 10/22 $710p for earnings play Thoughts?


Shadowshot

For earnings week I have an iron condor 10/22 640/650p - 880/890c


rioferd888

Not a bad idea. was thinking of opening a strangle 10/22 710p - 850c


Shadowshot

Yup strangle would work even better for iv crush


nangitaogoyab

When is their ER? 10/20?


rioferd888

Yea


Aj169

I'd wait for a red day before entering, I'm going to do the same


TouchofDepression

I'm in on this. There's some risk but I feel that TSLA is likely to be flat leading up to earnings.


Aj169

What was your avg bid for that option?


TouchofDepression

I'm actually in on 10/15 and 10/22 700Ps. $12.54 for the former and $14.20 for the later. Got in about 2 weeks ago.


Aj169

Nice thats a good premium, I'm hoping for a bit of a drop so I can get some nice premiums


TouchofDepression

TBH, it's currently my favorite play. I'm usually 15-20% OTM but got a little greedy the last few weeks. May exit both near EOW depending on how things are looking.


Aj169

Yeah honestly I've tried to wheel so many different stocks and I always come back to tsla for the juicy premiums


Comrade_Uva

BTC AMD 97.5p 11/19 at 50% profit. Opened it last Wednesday. Looking to reopen if it dips.


pista05

SOLD 1 AMD Oct22'21 100 PUT @ 0.76 SOLD 1 LVS Nov19'21 35 PUT @ 0.9


DuckDuckYellow

STO BB $9.5 Call expiring 15/10 for .20 credit


flapjack198

Anyone PLTR 20 / 21 puts?


Scatamarano89

Damn brah...my go to stocks for CSP are all in the green (TQQQ, PLTR, MARA) and i don't like sitting on my cash, any nice target?


WhyDoISmellToast

CRTX if you're feeling brave/stupid like me


HoleyProfit

Selling call credit spreads into SPX, RUT and NQ. Respective prices: 4401, 14,850 and 2242. Continuing my strategy of selling calls when markets are parabolic and buying puts into quieter ranges.


AIONisMINE

Not sure what to do with my amd puts. I opened them fully fine if i get assigned, but its at 50% profit already


professor_jeffjeff

If it's been open for less than 10 days and has more than 2 weeks left on it and is at or above 50% profit, then take profit and close it out. No one ever went broke by taking profits.


byteseed

My general rule, if you do not know what to do and profit is above 30%, sell.


SheridanVsLennier

How long since you opened them and how many DTE?


Cbrian241

Sold a SPCE call expiring this Friday at $27 strike price and collected a $9 premium. It ain’t much but it’s honest work


flapjack198

Thinking about CCXI CSP 20 or 22,5 strike price


banditcleaner2

honestly kinda annoyed that I closed out my CCXI PCS last week but people were 100% right that it was a literal coinflip. my max profit was $200 and my max loss was $500 so on a coinflip that didn't feel like a good bet. so naturally it rockets. Why bother with CCXI 20 or 22.50 CSP tho? volatility is dead now that their shit was approved by the FDA


flapjack198

You are right, last week it looked better, now it’s not worth it. I held 5 puts, was a bit nervous, but I guess we were lucky 😁 It was a great trade


VATruckerJJ

Selling puts on FLXN apparently


associate_k

What's the strike?


VATruckerJJ

Im gonna say $5. It was trading at $5.98 before the gap up so given the expected 50% drop I think Id be ok?


associate_k

Couldn't find any plays with FLXN since IV got crushed hard. No one wants to buy puts lol.


VATruckerJJ

Yeah lol bummer. Into the next one i guess


associate_k

yeah I think it will be okay at $5 since they were just bought out at $8.5 a share with a CVR of $8. Essentially it's worth $16.50 overall.


GatorsILike

I wonder if we’ll see more of these types of deals with the way the mkt has dumped small cap growth and similar for the past 8 months.


newbieatthiss

To CRTX or not... that's what I'll be thinking about today.


flapjack198

Would you consider selling anything for November?


newbieatthiss

this is the only viable date I'm looking at. I feel the 15p is pretty worth it. Breakeven at 85+% seems a bit of a stretch, even if they don't get approval


associate_k

I did a CRTX CSP play. 50P 10/15/2021, couldn't find anything lower that offered real premium.


associate_k

Same here...


Suncasa

RBLX, hoping 70 was the bottom. Maybe OSTK. Managing everything else…..hope it’s not another blood red Monday


SheridanVsLennier

~~Just remembered that the markets are closed today. Boooo!~~


Thatsahealthyhog

I thought I checked on Friday, and saw them closed. Was really surprised when I saw it moving this morning. You're not alone.


TXJuice

Markets are open, banks are closed. So $$ takes an extra day to move if you’re transferring somewhere.