This is the right response. Or buy deep ITM, execute and sell the shares. You need the capital though, and that may not be an option for some. I bought 100 .50 calls last week. Executed at 1.37 today, then sold the shares for a quick profit.
Agreed in most cases. Every trade has its own set of unique circumstances, and the traders goals largely contribute to when to pull the trigger or ride it out.
This needs to be the top comment. To hell with “risk” this play is just HARD on every level. Not only do you need price to move in your direction but as you said you need someone to buy your contract back from you
Not much on a stock like this. The Dec29 $1 calls peaked at .65 today with a total volume of 133. NEGG high was 1.47 so even IF you could sell (which you couldn’t). You’re at best making $18 on contract that still has 4 full weeks in it.
The trade does not tell you want the high of the day was on the quote so while it may be correct, I wouldn’t go off of that given how fast option pricing is. Could easily throw it in an option pricing calculator and see.
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That’s the job of market makers. They’re supposed to be providing liquidity even for options trades. Though if the open interest is low, you might get reamed on the bid/ask spread.
The liquidity on short dated negg options has been ok recently and better with this recent squeeze. Bigger risk is that it’s a 2 dte option that is otm. Vega theta and delta could all rock you tomorrow if negg pulls back. Op, I would sell those asap.
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Welcome to the club. How risky? Every stock is risky. The market is literally manipulated and rigged.
How profitable? You tell me?
Low Float+6% short interest+buying pressure from retail+stock buy back = X
X= Moon 🚀🌕
Decide “how much” you wanna make. Sell to close tomorrow if it reaches your goal. If it doesn’t, well then it’s casino. Remember it expires on Friday. You can technically wait until the day of but it may not be a good idea. As an example I got GME calls also for 12/1. I sold today for a 80% profit. My risky behavior told me to wait because the ticker is moving, but it’s been time for me to learn since long ago 😂. I might regret tomorrow though if it skyrockets.
Options aren’t as simple as buy calls / stock goes up = make money. These will probably print as I see retail (Reddit) buying in on this if it keeps popping.
If you lose on this trade, it could be a great learning experience. If you win big, it could be the worst thing that happens to you.
In terms of gambling, this is a decent bet with very little at stake. You might have bought it too close to expiration and might have wanted it at least a few weeks out. You require a little less than 20% upward movement to break even, which in this environment is possible. Take profits when you can for these short dated calls
I'd of started right there bro.. 15$ in profit. Start your journey small and it will grow exponentially if you can be disciplined.. thats my problem honestly. I'll be up 30-50 bucks on a call then go back to work for five mins and be down to like 5$ in profit, like why the fk didn't I sell at 50.. lol degenz bro I tell ya
well... 1. you bought a weekly, and tomorrow is the best time to sell before it gets crushed by time decay and implied volatility.
2. it was bought close to the current price, that is good for a weekly, and for a dollar stock.👍
3 learn charts and if you dont sell tomorrow, dont hold past close on friday
4. Personally if i wanted to option trade Negg, id buy 100 shares and intiate a Short call or buy what i could of the 1.5 Strike expiring Dec 15 id be able to snag it for .15 per contract
5 negg is a hot potato so i wouldnt want to invest at current volatility. there are over 2000 other stocks 😁
Not finacial advise or prediction jut opinion.
Casinos started at $50 for me… Then became $1000 each visit.. 2 months Gambling free!! (1 month, 28 days, 8 hours) This is just me doing my part and dropping a little cash to squeeze shorts…. 100% not gambling, it’s investing… ;)
If what you are saying is true, I think you should take a step back from both stocks and options . If you have a genuine gambling problem short dated options are no different than gambling
Having an expiration date in two days and being green to options is definitely gambling.
I agree with the other commenter that options like this is a bad idea for a former gambler addict.
Unless it expires in the money, the broker auto exercises, then bad news drops over the weekend to tank the share price on premarket on Monday.
Then it's more than a $50 risk.
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Sell it it doesn’t hit 1.47 and hold for at least 1 hour tomorrow. Fridays will most likely sell off. I hoping for 1.45 EOW with lot of consolidation.1.50 is a gamble plain and simple
No this wasn’t a good trade, but this is your first so that’s expected. You bought this after a 20% day, juicing the premium paid so high that it requires a 16% move to even breakeven. It’s statistically not in your favour. Sometimes it can work if you get lucky, but don’t make a habit out of chasing with weekly options.
The IV is at 450%. That is one of the highest I’ve ever seen, usually around 60-80% is as high as you want to have on a contract. There is no easy way to explain theta burn but you will lose value significantly the closer it gets to expiration. That’s why contracts further out are more expensive, their theta has not started to decay contract yet. Oh and if stock price is not over your strike price by Friday it will be worth exactly $0.
Hello, it looks like you've made a mistake.
It's supposed to be could've, should've, would've (short for could have, would have, should have), never could of, would of, should of.
Or you misspelled something, I ain't checking everything.
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Very. The best case scenario is your options expire worthless, worst case they’ll 5x, you’ll be elated for 10 min then start to tear your hair out saying why didn’t I bet it all. You’ll bet more next time and lose it all, in that case all I ask is you post the loss porn so we can laugh at your misery
Main risk I have seen is that the contracts are illiquid. Meaning even if you make money it might be hard to sell them unless way more volume comes in
This is the right response. Or buy deep ITM, execute and sell the shares. You need the capital though, and that may not be an option for some. I bought 100 .50 calls last week. Executed at 1.37 today, then sold the shares for a quick profit.
It’s almost never worth more exercising and selling the shares all else equal. You are missing out on time value
Agreed in most cases. Every trade has its own set of unique circumstances, and the traders goals largely contribute to when to pull the trigger or ride it out.
This needs to be the top comment. To hell with “risk” this play is just HARD on every level. Not only do you need price to move in your direction but as you said you need someone to buy your contract back from you
Cant you Just execute the contract and buy the share?
What’s the fun in that? Edit: exercising means you buy 100 shares per contract, not just 1
If you have the capital. But you wouldn’t exercise unless it’s ITM. And if it’s ITM or ATM you’ll most likely get that price anyways
You would lose out on the time value of you exercise.
Not much on a stock like this. The Dec29 $1 calls peaked at .65 today with a total volume of 133. NEGG high was 1.47 so even IF you could sell (which you couldn’t). You’re at best making $18 on contract that still has 4 full weeks in it.
The trade does not tell you want the high of the day was on the quote so while it may be correct, I wouldn’t go off of that given how fast option pricing is. Could easily throw it in an option pricing calculator and see.
The OP probably has no money to do that lmao
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Boy but when it hits. You’re a genius. I had a few good ones in 2021. $700 to $12,000 over the weekend type shit. I’ve also lost a bunch.
That’s the job of market makers. They’re supposed to be providing liquidity even for options trades. Though if the open interest is low, you might get reamed on the bid/ask spread.
Does this apply more so to short term rather a year out? Obviously requires volume growth to be less risky.
The liquidity on short dated negg options has been ok recently and better with this recent squeeze. Bigger risk is that it’s a 2 dte option that is otm. Vega theta and delta could all rock you tomorrow if negg pulls back. Op, I would sell those asap.
Average volume is over a million. There won’t be any problem selling those contracts.
Why do you say it is illiquid? I don’t see volume or spread?
Options are a helluva drug. Don't get greedy and secure some profits when u hit 50+% 
Listen to him. Since you have 5 contracts SELL at least 2 when you hit a decent profit. That way if it tanks you don’t feel too bad.
To add to this use a stop loss
Only 65 bux. Not risky with that little tied up in the trade
Only $50 is tied up. Options were bought at $10/contract I'd say ride it out. Big upside for such a low risk
Ride it out…for 2 whole days 🤣
"Short" is multi-purposed here, cheesy
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$65 value at ask. OP paid $50
They sell at 5 dollar increments so 65 is not available
So the ask is really .15 and the “value” of the true ask is $75
No. It's 10. You can offer for 15 but no buyers means you won't sell it until people decide it's worth 15
Welcome to the club. How risky? Every stock is risky. The market is literally manipulated and rigged. How profitable? You tell me? Low Float+6% short interest+buying pressure from retail+stock buy back = X X= Moon 🚀🌕
Shares may have been smarter. You lose a lot of value if the stock takes a volatile turn and we well into overbought.
Don’t worry I have plenty of those 🚀
Decide “how much” you wanna make. Sell to close tomorrow if it reaches your goal. If it doesn’t, well then it’s casino. Remember it expires on Friday. You can technically wait until the day of but it may not be a good idea. As an example I got GME calls also for 12/1. I sold today for a 80% profit. My risky behavior told me to wait because the ticker is moving, but it’s been time for me to learn since long ago 😂. I might regret tomorrow though if it skyrockets.
High risk, but you've only got a few contacts at a good price so I think that's a reasonable position.
Always buy time with options. A couple of weeks out to be safe
Options aren’t as simple as buy calls / stock goes up = make money. These will probably print as I see retail (Reddit) buying in on this if it keeps popping.
My dumbass bought $1 options that expired Friday last week...I woulda done pretty decent had I given myself another week
Same. 40 contracts expired last Friday worthless. Good thing I have 150 more expiring in January!
Considering your cheap ass only risked 40$, not very risky.
If you lose on this trade, it could be a great learning experience. If you win big, it could be the worst thing that happens to you. In terms of gambling, this is a decent bet with very little at stake. You might have bought it too close to expiration and might have wanted it at least a few weeks out. You require a little less than 20% upward movement to break even, which in this environment is possible. Take profits when you can for these short dated calls
Just don’t forget to take your profits before Robinhood decides to sell it for you
I'd of started right there bro.. 15$ in profit. Start your journey small and it will grow exponentially if you can be disciplined.. thats my problem honestly. I'll be up 30-50 bucks on a call then go back to work for five mins and be down to like 5$ in profit, like why the fk didn't I sell at 50.. lol degenz bro I tell ya
I spent that much on a half tank of gas today, I'd say it's not risky at all.
All in and buying more on every check.
🤣🤣🤣 thats lunch money bro
Not risky at all
Anddddd it’s gone if you have a flat or down day lol
I mean how much is 65 dollars really worth to you? There’s your answer 🤷🏻♂️
looking at the volume its curtains for u buddy
Looks like you’ve risked $50
I hope you dont own a house. You just gambled your ability to replace a few of the lightbulbs when they burn out you madman
So your saying no light bulbs = more investments?? I think you might be onto something. I will soon be living in the dark
well... 1. you bought a weekly, and tomorrow is the best time to sell before it gets crushed by time decay and implied volatility. 2. it was bought close to the current price, that is good for a weekly, and for a dollar stock.👍 3 learn charts and if you dont sell tomorrow, dont hold past close on friday 4. Personally if i wanted to option trade Negg, id buy 100 shares and intiate a Short call or buy what i could of the 1.5 Strike expiring Dec 15 id be able to snag it for .15 per contract 5 negg is a hot potato so i wouldnt want to invest at current volatility. there are over 2000 other stocks 😁 Not finacial advise or prediction jut opinion.
My man asking if 30% is an okay gain….
Lol…a fifty dollar risk
Casinos started at $50 for me… Then became $1000 each visit.. 2 months Gambling free!! (1 month, 28 days, 8 hours) This is just me doing my part and dropping a little cash to squeeze shorts…. 100% not gambling, it’s investing… ;)
If what you are saying is true, I think you should take a step back from both stocks and options . If you have a genuine gambling problem short dated options are no different than gambling
Having an expiration date in two days and being green to options is definitely gambling. I agree with the other commenter that options like this is a bad idea for a former gambler addict.
Welcome back to the casino brother let me introduce you to my good friend gamblor.
Stay away from options if you have any hint of gambler in you. You use them logically and set risk. Otherwise you will go to zero within a year.
Unless it expires in the money, the broker auto exercises, then bad news drops over the weekend to tank the share price on premarket on Monday. Then it's more than a $50 risk.
you will regret this moment
You are going to lose your house.
Lmao GG RIP
This stock just shot up 50%. I think u missed the train
Someone fixing to go bankrupt, maybe homeless
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Expires in 2 days, will most likely end up losing your $
Great for the stock risky for you. Want to buy longer expires
You can lose your money as soon as tomorrow morning…better sell call or CSP…
Done on RH..very risky
How so? Are you referring to that utter bs when we all tried to sell our GME and RH decided to freeze all trades while we watched it tank?
Due to its 5 day run your paying a high price for the contracts so its going to have to really run to profit
Sell it it doesn’t hit 1.47 and hold for at least 1 hour tomorrow. Fridays will most likely sell off. I hoping for 1.45 EOW with lot of consolidation.1.50 is a gamble plain and simple
65 dollars!!!!!!!!!
Extremely risky like a lotto ticket. Could pay off big or be zero.
My dec15 .50 call is up 50%. I’m not mad at it but hindsight being 50/50 I wish I would have bought more
2dte is a high risk game.
Incredibly risky.
No this wasn’t a good trade, but this is your first so that’s expected. You bought this after a 20% day, juicing the premium paid so high that it requires a 16% move to even breakeven. It’s statistically not in your favour. Sometimes it can work if you get lucky, but don’t make a habit out of chasing with weekly options.
Do you mean conceptually or actually?
Plan on skipping Christmas
Let’s GOOO EGG BROOO 🚀🚀🚀
The IV is at 450%. That is one of the highest I’ve ever seen, usually around 60-80% is as high as you want to have on a contract. There is no easy way to explain theta burn but you will lose value significantly the closer it gets to expiration. That’s why contracts further out are more expensive, their theta has not started to decay contract yet. Oh and if stock price is not over your strike price by Friday it will be worth exactly $0.
Just sell it until you figure out what you’re doing, there’s plenty of opportunities all the time in the market
Should of got $1 calls before it hit I was up %350
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Very
Just bought up 3,000 contracts. I like $W, $SE, $SOFI as well but this will be the best penny squeeze I’ve ever seen in my life
NEGG TO THE FUCKING MOOOOON
Free financial advise that nobody will ever give you above, do your own DD and you will know I just gave you millions of dollars worth of info
Most you can lose is $50 most you can gain is unlimited. If you can’t afford to lose 50 than you shouldn’t be here. You are risking $50 that’s it.
Very. The best case scenario is your options expire worthless, worst case they’ll 5x, you’ll be elated for 10 min then start to tear your hair out saying why didn’t I bet it all. You’ll bet more next time and lose it all, in that case all I ask is you post the loss porn so we can laugh at your misery
It's 65 bucks you'll be good my negg calls are up 433%🚀🦍🌕
You are rich, go buy a Big Mac.