Everything Options

Tmac

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I read every post here. I still don’t get it, but I’m hoping getting familiar will pay off one day.
 
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Fogel

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I read every post here. I still don’t get it, but I’m hoping getting familiar will pay off one day.

I learned the most from actually doing it on top of research, just start small. Pick a stable stock with a low share price. The option contracts will only be worth low double digits. Start off selling puts. That's sell to open when you have the option chain open.
 

Sanrith Descartes

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I learned the most from actually doing it on top of research, just start small. Pick a stable stock with a low share price. The option contracts will only be worth low double digits. Start off selling puts. That's sell to open when you have the option chain open.
And use the tools you are given Tmac Tmac . If using Fidelity, use the options trade calculator to examine your probability of assignment etc.
 
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Tmac

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I learned the most from actually doing it on top of research, just start small. Pick a stable stock with a low share price. The option contracts will only be worth low double digits. Start off selling puts. That's sell to open when you have the option chain open.

Thanks for the advice. I was wondering how to do it and doing it with small amounts with steady stocks seems like the best path forward.
 

Blazin

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I had a limit on COIn at $320 but chickened out and changed to $300 and of course missed it.
 
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Sanrith Descartes

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All I am gonna say about COIN in one chart...

1618430855888.png
 

Sanrith Descartes

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Its April expiry. Anyone still holding open April contracts? I got covered calls on KO which are about 1.5% in the money so they are gone and VLDR puts which I am taking the shares on. Will be down about 2$ a share depending on what happens today.
 

Blazin

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Its April expiry. Anyone still holding open April contracts? I got covered calls on KO which are about 1.5% in the money so they are gone and VLDR puts which I am taking the shares on. Will be down about 2$ a share depending on what happens today.

Not much left for me, I have calls expiring on QCOM and WMT today, monthly expiration is timed poorly to market position for selling puts this month. So I'm probably just going to mostly sit on my hands for a bit
 

Sanrith Descartes

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Not much left for me, I have calls expiring on QCOM and WMT today, monthly expiration is timed poorly to market position for selling puts this month. So I'm probably just going to mostly sit on my hands for a bit
I agree with this. I only have two open puts right now for May expiry. Just sitting on some case at the moment.
 

Sanrith Descartes

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Lost my KO shares. End result is 10.56% over the 12 weeks I held it after being assigned. Combination of weekly covered calls and dividends got me to 10.56% gain. 42% annualized return works for me.

I get assigned VLDR at cost basis of $15.96 and close is $13.38. The May 17.5 strike calls are selling for 65 cents so thats the plan.
 

Sanrith Descartes

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Took my VLDR assigned shares are wrote the covered calls for May $17.50 strike for 55 cents. This of course now guarantees the stock will moon.
 

Sanrith Descartes

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Took advantage of the weakness in LAZR to write more puts and dollar cost average. I like the company and think it has a future. It doesnt hurt that I made over 100% profit when it was a SPAC so this is sort of house money. My cost basis is right at $17.50 if assigned and I am comfortable with that.
 

Sanrith Descartes

I love my shiny new medal, LLR
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Took advantage of the weakness in LAZR to write more puts and dollar cost average. I like the company and think it has a future. It doesnt hurt that I made over 100% profit when it was a SPAC so this is sort of house money. My cost basis is right at $17.50 if assigned and I am comfortable with that.
Was able to close these out for a modest gain on the 20% gap up today. The short war on SPAC/meme stocks isnt over and I will circle back once it gets back into gear.

Rule of thumb: Take what the market gives you.