Everything Options

Jysin · Nov 8, 2021

Took a punt on some 19Nov $43 LCID puts. Grabbed them near rock bottom price on day at $3.10 per.

Thesis is this has ran a long way in short time and with Rivian IPO, I am thinking Lucid profit taking will be had to buy into that IPO.

Still new'ish to the options game, but seems like a decent play. Market is still very extended without a pullback either.

Fogel · Nov 8, 2021

Jysin said:
Took a punt on some 19Nov $43 LCID puts. Grabbed them near rock bottom price on day at $3.10 per.

Thesis is this has ran a long way in short time and with Rivian IPO, I am thinking Lucid profit taking will be had to buy into that IPO.

Still new'ish to the options game, but seems like a decent play. Market is still very extended without a pullback either.

Bought or sold puts?

Jysin · Nov 8, 2021

Bought

ShakyJake · Nov 8, 2021

Sanrith Descartes said:
and when they dont...

I mean, the most I could've lost was the premium.

Jysin · Nov 9, 2021

Jysin said:
Took a punt on some 19Nov $43 LCID puts. Grabbed them near rock bottom price on day at $3.10 per.

Thesis is this has ran a long way in short time and with Rivian IPO, I am thinking Lucid profit taking will be had to buy into that IPO.

Still new'ish to the options game, but seems like a decent play. Market is still very extended without a pullback either.

Payday. +30%

Fogel · Nov 10, 2021

Good thing I went greedy with my FUBO covered calls, it tanked on earnings (duh), gonna sell some puts until it cools off and gets back to 30

Zzen · Nov 10, 2021

I bought some BYND 90 puts at the bell.

It’s taking a shit AH. Would you sell these at open, or see how much it bleeds out tomorrow?

They expire Friday, so theta has a going to fuck me if I hold.

Blazin - what do?

Blazin · Nov 10, 2021

Zzen said:
I bought some BYND 90 puts at the bell.

It’s taking a shit AH. Would you sell these at open, or see how much it bleeds out tomorrow?

They expire Friday, so theta has a going to fuck me if I hold. Blazin - what do?

Did you break the number one rule of put selling? We only sell a put on a name we WANT to own at the strike we are selling it. So you don't want to own it?

Sanrith Descartes · Nov 10, 2021

Blazin said:
Did you break the number one rule of put selling? We only sell a put on a name we WANT to own at the strike we are selling it. So you don't want to own it?

He said he bought puts. If that's true I think he is in the money and asking how far to let it run.

Blazin · Nov 10, 2021

Sanrith Descartes said:
He said he bought puts. If that's true I think he is in the money and asking how far to let it run.

Oh you're right. I would put a stop near 80 and see if it bleeds more.

Zzen · Nov 11, 2021

Blazin said:
Oh you're right. I would put a stop near 80 and see if it bleeds more.

So, part of the ripple effect of using Robinhood as training wheels for options, is its lack of sophistication.

You can’t put a stop related to the share price, only the option price.

I made a little extra return by diamond handing through the open, but did get a little greedy as well

Sanrith Descartes

I was going to pull the trigger when it hit +300%, but did not, and had to watch it come back down a bit.

Blazin · Nov 11, 2021

Zzen said:
So, part of the ripple effect of using Robinhood as training wheels for options, is its lack of sophistication.

You can’t put a stop related to the share price, only the option price.

I made a little extra return by diamond handing through the open, but did get a little greedy as well Sanrith Descartes

I was going to pull the trigger when it hit +300%, but did not, and had to watch it come back down a bit.

When trading options definitely good to have better choices on setting orders, only thing you can do then is try to calculate what the option price would be at the particular underlying stock price using the delta. Does RH have anything beside the basic MKT/LMT/STOP/STOPLMT etc? Spreads being wide can hurt on a stop order for an option unless you can use stop limit but it could move right through your order without a fill.

Sanrith Descartes · Nov 11, 2021

Zzen said:
So, part of the ripple effect of using Robinhood as training wheels for options, is its lack of sophistication.

You can’t put a stop related to the share price, only the option price.

I made a little extra return by diamond handing through the open, but did get a little greedy as well Sanrith Descartes

I was going to pull the trigger when it hit +300%, but did not, and had to watch it come back down a bit.

Profit is profit. Its all good.

If, I say IF, you want to learn options maybe set up a small Fidelity or TD account. They both have very solid tools to help you. Fidelity Active Trader Pro has some solid options backtesting features and profit calculators.

Zzen · Nov 11, 2021

Blazin said:
When trading options definitely good to have better choices on setting orders, only thing you can do then is try to calculate what the option price would be at the particular underlying stock price using the delta. Does RH have anything beside the basic MKT/LMT/STOP/STOPLMT etc? Spreads being wide can hurt on a stop order for an option unless you can use stop limit but it could move right through your order without a fill.

When selling to close, limit and stop limit (by contract price) are the only options. When it becomes time to take the training wheels off, I’ll move to another platform.

Sanrith Descartes said:
Profit is profit. Its all good.

If, I say IF, you want to learn options maybe set up a small Fidelity or TD account. They both have very solid tools to help you. Fidelity Active Trader Pro has some solid options backtesting features and profit calculators.

I ended up doing closer to 2x than 3x. It was the largest bet I’ve made, but still relatively small. Enough to put the account in the black though. Feels good man.

The hood is fine for now. I’m finding it a fun place to learn. The gamification of trading does make you understand how some people get carried away a la wsb though.

I will say that early on, this kind of trading feels a lot like sports. The losses hurt more than the wins feel good lol. Still work to do on the mental game

Sanrith Descartes · Nov 12, 2021

Zzen said:
When selling to close, limit and stop limit (by contract price) are the only options. When it becomes time to take the training wheels off, I’ll move to another platform.

I ended up doing closer to 2x than 3x. It was the largest bet I’ve made, but still relatively small. Enough to put the account in the black though. Feels good man.

The hood is fine for now. I’m finding it a fun place to learn. The gamification of trading does make you understand how some people get carried away a la wsb though.

I will say that early on, this kind of trading feels a lot like sports. The losses hurt more than the wins feel good lol. Still work to do on the mental game

The trick to investing is to move past the mental part entirely. Leave your emotions down the street. Emotional trading will destroy you. Analyze every trade post mortem and see if you could have done better or made a mistake in analysis. After that move on and never think about it again.

Sanrith Descartes · Nov 15, 2021

Blazin
Lets say you want to roll an option out and up/down and the spreads are say 20 cents on each leg. Can you make the 2nd leg contingent on the first leg's filling at a limit price.

example:
Leg one spread is $2.00 and $2.20
Leg two spread is $4.00 and $4.20

If I limit price leg 1 to $2.00 to buy to close, how can I make sure I get the sell to open on leg 2 at $4.20? Is there a way to link the legs?

Blazin · Nov 15, 2021

Sanrith Descartes said:
Blazin
Lets say you want to roll an option out and up/down and the spreads are say 20 cents on each leg. Can you make the 2nd leg contingent on the first leg's filling at a limit price.

example:
Leg one spread is $2.00 and $2.20
Leg two spread is $4.00 and $4.20

If I limit price leg 1 to $2.00 to buy to close, how can I make sure I get the sell to open on leg 2 at $4.20? Is there a way to link the legs?

I usually tell it what I expect as the net and then not worry about if I get screwed on one side or the other if I end up with what I wanted overall

Sanrith Descartes · Nov 19, 2021

Im gonna take the shares I get assigned on the SPIR puts. RIVN just sucked all the oxygen out of the /wsb crowd. Its a cheap stock and with the premium, Im down about $1.5 a share. Not a big loss and I like the company.

Fogel · Nov 22, 2021

Watching MTTR 25$ puts for december, might wait a bit this week to see if the price dips this week before selling any though

ShakyJake · Nov 22, 2021

A week or two ago I had bought an AAPL dec 17 160 call @ $1.60 and HD dec 17 410 call @ $3.15. These are up nicely.

I want to let these run as long as possible. From my limited TA abilities, it looks like AAPL has now broken out of an upward channel, reached all-time highs. So, I'm not sure how to project where my exit point might be.

For HD I'm projecting around $430-440 for early December. Looking at analyst predictions this doesn't seem too far fetched?

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Everything Options

Jysin

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Fogel

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Zzen

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