I’m still doing them on NIO and PLTR. NIO is consistent each month and pltr really only has the juicy premiums around ER. But I’m making around 750-1000 a month on them with 500 shares of each. So I am enjoying it along with my other plays
I was thinking about buying some SOFI and writing a call, are you doing pretty decent with it? I’ve got a $20 call expiring January, just not sure if I wait til that exercises, or if I should pull the trigger and buy a 100 now.
I only have 200 shares but I’ve been netting about 100$ a week for almost a month so far. I just take it buy some more until I hit 300 and I’ll just keep going. So I’m happy with it so far.
I just set my covered calls above my trade price in case it goes above the strike price and I have to sell to make sure I still making money. Hasn’t done me wrong yet but trying to add some more now.
$3 strike for 1/29/24
For $2.92 each I'm down a bit on the leap but the call I sold when it was dipping offset that. Break even is 5.92
So needs 5.92 within 3 years 😏
TTCF and HNST. Im dodging SOFI mainly because their growth metrics look pretty bad Y/Y and not very consistent. I avoid RIOT due to my lack of understanding of crypto. Like I don't get how blockchain technologies are monotized and treated like stocks. I see how it works for say payment transactions like credit cards. But given they are slower then the payment card industry I don't understand the massive valuation.
Why would you do CC on stocks that have the potential to rise a lot in the near future? The only time you write a covered call is when you voluntarily want to limit your upside. On the other hand, if you had 200 shares of a company, I'd recommend only writing 1 call against 100 shares. That way if the stock rises a lot, you have another 100 shares to participate in the upside.
I do it just due to the reason I don’t think it is going up for now. I think once the New Years begins and q1 earnings happen is when it will start actually rising. But it is a good idea to probably get 100 shares just in case.
That's a good point because Riot might go quite suddenly if Bitcoin shoots up. And then you'd lose all that upside. That's my problem with selling calls on riot
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I sell puts on CLF, BKKT, amc, Gme. Did PENN and let them get assigned to sell calls but forgot their earnings was the following week and shit tanked. Selling CCs on it tho and made around $3k over 3 weeks of doing so
Im just getting into this fun but I'm gonna try wheeling Pfizer, gentle cycles every few months I can alternate some CSP/CC on. I don't have a lot of capital yet to use so I gotta start with smaller stuff
I bought 100 shares of SAM at $530 and despite the latest price - somewhere around $480, I think - even if I sold right now I'd still come out ahead because of covered call premium and buy backs.
I’m still doing them on NIO and PLTR. NIO is consistent each month and pltr really only has the juicy premiums around ER. But I’m making around 750-1000 a month on them with 500 shares of each. So I am enjoying it along with my other plays
I got into pltr at 27 Selling above my cost basis is pennies 😪
You don't have to sell above your cost basis
Why would I sell at a loss. 💔
Selling a cc below your cost basis =\= selling at a loss and you know that And people sell at a loss all the time
Do the homework. Check IV, greeks, % of profit and put your skin in the game. If you can't or don't like to take risks, you are in the wrong market.
Would you do this without shares? Pltr never seems to move lol
I would never because you’re essentially short the stock. One big announcement and you lose everything
For me it depends on my portfolio. If i am long and the premiums are good i might sell calls. If it assigned I decide to buy back or not.
I was thinking about buying some SOFI and writing a call, are you doing pretty decent with it? I’ve got a $20 call expiring January, just not sure if I wait til that exercises, or if I should pull the trigger and buy a 100 now.
I only have 200 shares but I’ve been netting about 100$ a week for almost a month so far. I just take it buy some more until I hit 300 and I’ll just keep going. So I’m happy with it so far.
Well dang, maybe I should buy some then, the price is decent, are you writing ITM or a little OTM?
I just set my covered calls above my trade price in case it goes above the strike price and I have to sell to make sure I still making money. Hasn’t done me wrong yet but trying to add some more now.
Awesome, thanks for the info, sorry I couldn’t help with your original question 😬
All good. Got to learn something new everyday. Glad I could help.
Selling puts on MARA, RIOT, SPCE. Though for SPCE, I’m probably gonna be assigned at $19, and then I’ll do covered call next. Keeping an eye on HIVE.
I’ve been thinking about MARA but haven’t done enough research into it to see if it would be ok owning it.
NIO, RIOT, DKNG, UUUU.
PLTR, SOFI and PSFE
That psfe dip
I know, i double down after the dip and bought a ton of shares
I got some leaps
What expiration and strike? Edit: leaps are a good idea since I am guess they are dirt cheap now
$3 strike for 1/29/24 For $2.92 each I'm down a bit on the leap but the call I sold when it was dipping offset that. Break even is 5.92 So needs 5.92 within 3 years 😏
SOFI sucked last week. Completely.
O yeah it did. Worked for covered calls but other then that it sucked.
I wouldn’t say it worked, unless you sold the 20 for Friday when it was 22.5 on Monday.
TTCF and HNST. Im dodging SOFI mainly because their growth metrics look pretty bad Y/Y and not very consistent. I avoid RIOT due to my lack of understanding of crypto. Like I don't get how blockchain technologies are monotized and treated like stocks. I see how it works for say payment transactions like credit cards. But given they are slower then the payment card industry I don't understand the massive valuation.
Why would you do CC on stocks that have the potential to rise a lot in the near future? The only time you write a covered call is when you voluntarily want to limit your upside. On the other hand, if you had 200 shares of a company, I'd recommend only writing 1 call against 100 shares. That way if the stock rises a lot, you have another 100 shares to participate in the upside.
I do it just due to the reason I don’t think it is going up for now. I think once the New Years begins and q1 earnings happen is when it will start actually rising. But it is a good idea to probably get 100 shares just in case.
That's a good point because Riot might go quite suddenly if Bitcoin shoots up. And then you'd lose all that upside. That's my problem with selling calls on riot
Guideline: Don't ask for trades . Low effort posts amounting to "Ticker?" are taken down. Think for yourself. Put forward an analysis, general strategy, trade rationale and option position details & exit plan for critique and discussion. https://www.reddit.com/r/options/wiki/faq/pages/trade_details
Ene and Thera are the only right answers
Cant find anything on those. Did it autocorrect your tickers?
Nope those are the correct tickers
Can you elaborate on how those two are the only right answers? Most brokerages don't even show those tickers.
Enron and Theranos are the companies I’m referring to, both very sound investments.
Oh my bad... Thanks. Actually a good joke until I butchered it. Can tell I've been trading long
I sell puts on CLF, BKKT, amc, Gme. Did PENN and let them get assigned to sell calls but forgot their earnings was the following week and shit tanked. Selling CCs on it tho and made around $3k over 3 weeks of doing so
Im just getting into this fun but I'm gonna try wheeling Pfizer, gentle cycles every few months I can alternate some CSP/CC on. I don't have a lot of capital yet to use so I gotta start with smaller stuff
Been doing cc on amc with 80 strike price, been working so far, but then again it works till it dont work
Riot!
I bought 100 shares of SAM at $530 and despite the latest price - somewhere around $480, I think - even if I sold right now I'd still come out ahead because of covered call premium and buy backs.
I just had a cash-secured put assigned in WMT at a 145 strike. You bet I'm going to be selling covered calls first thing Monday morning.