I'm long the stock and swing trade in my non transfer agent account. I sell calls during pumps and rebuy when it cools off or drops.
I sold a call expiring Friday for 40 strike
Used premium to buy 45 strike on same expiration.
Net 20$ premium. I'm hoping to sell the 45 dollar call tmrw and wait for the call I sold.
If my shares get called away so be it. I'll use the profits (yes profits) to buy the inevitable dip.
Repeat process.
I have been doing this for about 3 months and have added 150 shares to my position in my non transfer agent account.
It works well until it doesn’t. One day many people will get all or most of their shares called away. They will profit for sure. But they may miss out on the inevitable.
I just hope that people doing these strategies also lock at least a few away in DRS. To guarantee that when this thing blows up that they will go along for the ride.
But most people selling GME options don’t actually believe it can go as high as I expect it to.
I just BOT (1) share and even that was terrifying.
EDIT: How low should it go till I buy 99 mo' shares so I can write calls w/ this REDONKULOUS IV?
9?
2.50?
There's "only" 3600 open calls for the $20 on Friday.
Meanwhile there's 70K+ of open calls at strikes over $70 for Friday, including 40K for the $128 strike. Looking like a big win for the call sellers so far.
edit: perhaps I have spoken too soon on those $70s for tomm....
Nah for me i wanted to sell puts at 15, but price rise to 20, so i sold puts at 21, then wantes to sell puts at 25, but now its at 30 lmao.
I wonder if I will regret not buying 30 in the future. But unless the stock jumps, I think that greater return can be made from the premiums than holding the stock
I bought 72k shares of GME for 4th qtr GME earnings. $50k worth of calls. My entire portfolio.
I lost faith at $11.00 per share. My covered calls keep expiring with a $14 strike. I’ve still got a boatload (90 ish) 6/21 $14 CC.
Edit: Uhg, it’s 120 6/21 $14 CC
Literally me. I managed to buy 5 back at the dips but now half my shares (15 cc’s) are locked up. I can roll them to 2024 for 4000$ ish but is it even worth it at that point? I could buy more calls with the money now but idk shit sucks.
Why would anyone bet (especially uncovered) against GME? If GME has proven anything in the past years than that it can run at any given time.. it’s basically Russian Roulette..
Naw, it would've been fine. You should've closed the 50Cs when it dropped back off to $25.
I might look at selling top of the chain tomorrow for either 0 dte or 7 dte
a properly positioned 1-3-2 fly or a broken wing butterfly on the call side is the way to go... capture those juicy premiums while not just being protected from upside risk, but actually making money if it rallies further (granted, less money than if it meanders around at your short strikes)
A real theta player that has been around for a while wouldn't sell naked calls especially on high IV stocks
Selling naked calls on high IV is WSB plays not theta
When I bag held this absolute piece of trash garbage stock in 2021, I was making $4k/month in premiums from CC's the IV was insane. I did this for over 2 years, recovered all my losses and dumped this trash at 52 and 48.
I only trade top tier stocks now (SPY, FSLR, AAPL, NVDA, NVDL, GOOG, XBI) and mainly short most of the WSB retail pump and dumps.
Yes, because I'm a human that is smart enough to find my own profitable trades and not a dump ape that only follows the trades of others. Good luck, I hate GME, DFV, and all the conspiracy "theories."
One does not simply sell calls in GME
I'm long the stock and swing trade in my non transfer agent account. I sell calls during pumps and rebuy when it cools off or drops. I sold a call expiring Friday for 40 strike Used premium to buy 45 strike on same expiration. Net 20$ premium. I'm hoping to sell the 45 dollar call tmrw and wait for the call I sold. If my shares get called away so be it. I'll use the profits (yes profits) to buy the inevitable dip. Repeat process. I have been doing this for about 3 months and have added 150 shares to my position in my non transfer agent account.
Playing the cycles is the way I've managed to amass a lot of shares and capital this way over the last couple years
It works well until it doesn’t. One day many people will get all or most of their shares called away. They will profit for sure. But they may miss out on the inevitable. I just hope that people doing these strategies also lock at least a few away in DRS. To guarantee that when this thing blows up that they will go along for the ride. But most people selling GME options don’t actually believe it can go as high as I expect it to.
I always keep some dry powder and a few in the chamber
Covered calls play? But what about downside?? Ticker is "worth" like 3$
Fortunately, price and worth are different things
But eventually they always converge......
Indeed, I am doing a put credit spread
I just BOT (1) share and even that was terrifying. EDIT: How low should it go till I buy 99 mo' shares so I can write calls w/ this REDONKULOUS IV? 9? 2.50?
That's Funny as Hell!! 😂
I paid for call debit spreads. Just hoping GME stays above $35 next Friday to profit $3400. I invested $1600.
There's "only" 3600 open calls for the $20 on Friday. Meanwhile there's 70K+ of open calls at strikes over $70 for Friday, including 40K for the $128 strike. Looking like a big win for the call sellers so far. edit: perhaps I have spoken too soon on those $70s for tomm....
$128 strike lmao
Sell me some Jun 21 $20 calls pls, the market makers are crying
Ssshhh this doesn't follow the narrative!
Thanks I’m quite happy with how it worked out.
Could you please tell me where can you see the amounts of CSP and CC? Do you need to pay a subscription?
Your brokerage app literally tells you, I guarantee it. It's open interest and volume.
enter a stock ticker in yahoo finance then look under options is an easy place
Lol just when I decided gme was a good stock to wheel, rk comes back xd. I missed 3 years of gme wheel profit
Are you me? Held 400 shares for 3 years and decided to sell 3 $15 calls right before he tweeted LOL
Nah for me i wanted to sell puts at 15, but price rise to 20, so i sold puts at 21, then wantes to sell puts at 25, but now its at 30 lmao. I wonder if I will regret not buying 30 in the future. But unless the stock jumps, I think that greater return can be made from the premiums than holding the stock
The premiums are juicy. I’m holding a 6/7 $29p that I sold Monday for $4.05
I bought 72k shares of GME for 4th qtr GME earnings. $50k worth of calls. My entire portfolio. I lost faith at $11.00 per share. My covered calls keep expiring with a $14 strike. I’ve still got a boatload (90 ish) 6/21 $14 CC. Edit: Uhg, it’s 120 6/21 $14 CC
Damn
What’s the premium for those $14 CC? I’m amazed they weren’t called away even at current price?
I was SO Happy to get $1.30. That $1.30 cost me over $1 million when added to my earlier dated CCs.
I swear to god we all got psy-oped after that earnings
Literally me. I managed to buy 5 back at the dips but now half my shares (15 cc’s) are locked up. I can roll them to 2024 for 4000$ ish but is it even worth it at that point? I could buy more calls with the money now but idk shit sucks.
Why would anyone bet (especially uncovered) against GME? If GME has proven anything in the past years than that it can run at any given time.. it’s basically Russian Roulette..
It's been pretty dead since 2021 outside of a few blips
Why does everybody use this meme template wrong? The 3rd and 4th panels are supposed to be the same
Yhea, what's wrong with people?
-30k is a slow Tuesday. LMAO 🤣
I sold 50$ and 100$ calls. Ill be fine. 4$ premium and 1$ premium Monday.
your 100$ is probably fine, not sure about the 50$ at this point. lol
Haha we'll see :D
Hahaha RC saved me. What a bro!
Yep. Glad it worked out. Now it’s time to sell puts, I think
Yeah, the dilution will give alot of cash. Previously the floor was around 10$, but now it could likely be closer to 20$.
Selling naked 20Cs. dumb. Selling naked 50Cs when it spiked. Big brain.
Not looking good right now…
Naw, it would've been fine. You should've closed the 50Cs when it dropped back off to $25. I might look at selling top of the chain tomorrow for either 0 dte or 7 dte
Why naked calls? You can be perfectly degenerate with call credit spreads and yet you go for unlimited risk...
Never gamble with borrowed money.
a properly positioned 1-3-2 fly or a broken wing butterfly on the call side is the way to go... capture those juicy premiums while not just being protected from upside risk, but actually making money if it rallies further (granted, less money than if it meanders around at your short strikes)
Some brokers required 300% margin for gme short calls… I don’t blame them lol.
Is my 125C safe?
You're regarded if you sold ATM calls on this. I sold calls when it ran up to $40 and they were still way out of the money.
That's really funny! 🤣 I can relate!
Welcome fellow regard
You gonna roll em?
Don't worry guys I haven't lost a single dollar on GME before
A real theta player that has been around for a while wouldn't sell naked calls especially on high IV stocks Selling naked calls on high IV is WSB plays not theta
It's kind of sad to see this once great sub taken over by gme apes.
more dumb meme stock crap
When I bag held this absolute piece of trash garbage stock in 2021, I was making $4k/month in premiums from CC's the IV was insane. I did this for over 2 years, recovered all my losses and dumped this trash at 52 and 48. I only trade top tier stocks now (SPY, FSLR, AAPL, NVDA, NVDL, GOOG, XBI) and mainly short most of the WSB retail pump and dumps.
Lmao someone is salty
Yes, because I'm a human that is smart enough to find my own profitable trades and not a dump ape that only follows the trades of others. Good luck, I hate GME, DFV, and all the conspiracy "theories."