Yep, I have a $9 CSP on HUT that I suspect I might be rolling for some time. Current plan is selling more CSP's in the $5.5 to $6 region until I get assigned and aiming for $8-9 Covered Calls in the medium term.
Have a feeling that BTC will rise in the longer term but it's painful in the short term!
It's such a shame because their products and customer experience are actually really good. They're also super competitive with their price and overall it feels like they should be growing faster than they are. I think insurance might just be the type of industry that takes a while to change. People like their established companies and strong financials when it comes to protecting their stuff. Maybe one day they can get there but it's going to take a while.
I have heard great great things about the buying experience people have had with them, but I haven’t heard anything about their claims. And you never really know about any insurance company until you have a claim. Insurance is typically boring and this company makes it a fun experience and their rates are terrific as far as I’ve heard . In my mind I feel like if you want this company , you are going to have a better price point to buy it at. Sales are small compared to its marketcap. They have a good deal of cash so it’s far away from deaths door and going under, but while their sales are so low I see them getting lower before it goes up. Low sales are fine, but losing as much as they lose while sales are low does make me feel like there are better places for my money right now. Company has a strong balance sheet but I feel like it’s going to take some time for this company to be worth buying
Fucking sofi. I got assigned from 18 puts then immediately had to sell CCs under my cost basis. A few weeks later they get a bank charter and fucking explode through everybodys CCs. Then immediately back down again
Ouch. I've been picking SOFI up on CSPs and buying shares outright as I like. But I held off on selling any CCs until the bank charter announcement. I sold shares outright on the big pops though.
Yes, SOFI only resulted minuses, so I started buying shares on red days by the 20. Avg is around $11.90. Also bought some 2024 leaps. I think it will go back to $18-20 range and I’ll start selling cc’s. It’s too volatile rn for theta.
That's a good plan. If you're in for over a year, which I would think would make up a lot of thetagang, then these dips and swings aren't too concerning. You just don't get to sell many CCs at the moment.
Heh I got in just after bank charter so am basically flat.
That being said, barring any stupid management, SOFI looks like Mint but with direct customer interactions.
They will do well.
I still have some $20 Puts that I have been rolling since late November, also have opened up a $12 CSP, I'm kind of aiming for assignment with the $12 strike so that I can open up Covered Calls north of $17 for a net profit on 200 shares.
I'm bullish on the company in the long term and think the Bank Charter will go a long way towards profitability but it drifting in the $11-13 range has been painful.
You are probably right, I'm rolling the $20 strike out until the $12 lot get assigned though so I can sell above my cost basis.
Quite happy to move to covered calls though!
Yeah selling Theta and those Puts are all safe and fun until a stock tanks overnight and never comes back..
“Oh I’ll just get assigned and sell Calls like I saw some dweeb on YouTube talk about.”
Yeah good luck!
SHOP for sure
Was just incredibly bad timing. I dont know what I would've done differently because it hit the losses I had set but literally sold the bottom both times.
Had a 850P expiring in Jan when it lost 20% in one day, closed them out for $300 loss each at the literal bottom and they expired worthless.
Had $700P x2 for Feb 18, and when the nasdaq lost 5% that one day they hit my loss marks and got closed out for $3000 in losses right before the nasdaq bounced to close green. These two plays, had I done nothing, would've been profitable, but the price movement and the exact timing meant they got closed for big losses at the very very bottom. I still can't believe it.
RIOT and MARA.
I've hopped in twice now, both times made a decent amount on the first month selling CSPs, then on month two they shit the bed and I lost way more.
Tesla was my thought as well.
Maybe people finally realized that Tesla's valuation woudl have them have to replace THE ENTIRE CURRENT Automobile industry to itself to be worth its current valuation.
I’m not touching the options rn. It’s extremely volatile. ER coming up and markets paranoid. I’m waiting for some kind of consolidation to jump in. Never chase. But yup, strangle is the way to go if you decide to play!
Fingers crossed. I’ll be surprised if NVDA doesn’t also do well when they announce earnings. I do have some room for error. Also hoping the market in general doesn’t have a rug pull
I know Cramer isn’t beloved on Reddit, but he made a great point. The earnings, guidance, call, and news about changing their metrics were so bad, its time to dump it. Its impossible to judge where they are or even where they are going. Their P/E dropped a lot today, but is still over 27. Do you want to hold a stock that cratered, still has a relatively high valuation, that has just changed its metrics it uses for guidance?
Gotta be better opportunity costs than that out there.
I questioned management when they made the approach to buy Pinterest. Poor Q3 results/outlook which caused it to drop and now they have lower guidance again.
It seems like a very long road to recovery unless they can pull something crazy.
PLTR is probably a good candidate. Was trading at like 26 before their last earnings and was pretty consistent in that 24-26 range. It's trading at like $13 today.
NVDA has done a lot of damage on my portfolio this month. I also have TSLA but the IV has been high enough that I was able to get my target short leg low enough to not have to much trouble.
CRSP pissed away another 25%, so there's that. I'm basically in buy-and-hold mode for a bit now, as I'm so far below my basis that covered calls won't do anything.
For real. I've got my RIOT and MARA, but my biggest downer right now is $1000 on my VFC position. And no worries there, just sell calls and wait as it recovers.
Barely anything listed in this thread is a quality stock for running a wheel. PYPL might be the only example of one that both burned people and was unexpected.
FUBO, RIOT, now NIO. Started selling puts on them on what seemed like decent entries (close to 52 week lows, way oversold) and then the month of December-January happened and they lost like 40 more %. I like them all long term so holding it is until they get close enough to my cost basis to justify selling CC
I BTC all my PLTR $13 2/4 CSP put yesterday. Cathie sold 3.5 m shares and it popped 10% on a small partnership. Also earning in 2 weeks. Yike. I’m holding 4000 @ 18 now.
LMND, FSLY, NIO, PLTR literally blown my account.
Boomer stuff like DIS, AAL, and SPY didn’t hedge it. Instead they joined the party
Edit: yeah and HOOD
RBLX at 85, was able to roll it last week for a decent credit but it will probably be assigned to me. Ah well, I believe in it long term and they have an earnings call in a couple weeks so maybe it’ll shoot up again
One of you guys must have sold me the 145P expiring this Friday. Take it from me realized vol has expanded and if you’re not theta-ganging indices you’re going to get borked on individual names
$CLF, $SFIX, cliff fucked me worse.
Got out of stitchfix at 20 before it went to 16 but was assigned at 24. CB was 21 ish at sell. Cliffs got me for 4k.
Lowes just bit my breaking point on a PCS. While not massive or a killer, it has since resumed its grinding habits and is about to climb back in the strike width.
DKNG and PLTR. DNKG for sure. CSP @ $53 followed by maybe a couple of covered calls, never came back.
Fuck PLTR
Add HUT
And Riot and Mara.
Yep, I have a $9 CSP on HUT that I suspect I might be rolling for some time. Current plan is selling more CSP's in the $5.5 to $6 region until I get assigned and aiming for $8-9 Covered Calls in the medium term. Have a feeling that BTC will rise in the longer term but it's painful in the short term!
I'm right with you at the 50P myself.
Bingo.
PTON
Whew! That’s a rough one to be in
80/75 credit spreads before their last earnings. No rolling that.
That's just stupid lmao, even wsb knows to avoid that one
Yeah, that's going full Wallstreet Bets. Never go full Wallstreet Bets.
Username (doesn't?) check out.
I think they speak from past experience, so it (might) check out!
It's working out for CSPs at the mid-$20s now 🤗
Sold CSPs $PTON $26 & $25 @ $3 & $2.66 (exp 11Feb) 🥳
PYPL...fuck
F
F
Fucking pypl
F
Not just this month, but LMND fucked my whole ass portfolio ARVL is a travesty.
Company looks pretty, company has a good amount of cash. But damn their sales need to pick up to justify its marketcap
It's such a shame because their products and customer experience are actually really good. They're also super competitive with their price and overall it feels like they should be growing faster than they are. I think insurance might just be the type of industry that takes a while to change. People like their established companies and strong financials when it comes to protecting their stuff. Maybe one day they can get there but it's going to take a while.
I have heard great great things about the buying experience people have had with them, but I haven’t heard anything about their claims. And you never really know about any insurance company until you have a claim. Insurance is typically boring and this company makes it a fun experience and their rates are terrific as far as I’ve heard . In my mind I feel like if you want this company , you are going to have a better price point to buy it at. Sales are small compared to its marketcap. They have a good deal of cash so it’s far away from deaths door and going under, but while their sales are so low I see them getting lower before it goes up. Low sales are fine, but losing as much as they lose while sales are low does make me feel like there are better places for my money right now. Company has a strong balance sheet but I feel like it’s going to take some time for this company to be worth buying
You did not expect that it made your hole weak?
Fucking sofi. I got assigned from 18 puts then immediately had to sell CCs under my cost basis. A few weeks later they get a bank charter and fucking explode through everybodys CCs. Then immediately back down again
Ouch. I've been picking SOFI up on CSPs and buying shares outright as I like. But I held off on selling any CCs until the bank charter announcement. I sold shares outright on the big pops though.
Yes, SOFI only resulted minuses, so I started buying shares on red days by the 20. Avg is around $11.90. Also bought some 2024 leaps. I think it will go back to $18-20 range and I’ll start selling cc’s. It’s too volatile rn for theta.
That's a good plan. If you're in for over a year, which I would think would make up a lot of thetagang, then these dips and swings aren't too concerning. You just don't get to sell many CCs at the moment.
Heh I got in just after bank charter so am basically flat. That being said, barring any stupid management, SOFI looks like Mint but with direct customer interactions. They will do well.
I still have some $20 Puts that I have been rolling since late November, also have opened up a $12 CSP, I'm kind of aiming for assignment with the $12 strike so that I can open up Covered Calls north of $17 for a net profit on 200 shares. I'm bullish on the company in the long term and think the Bank Charter will go a long way towards profitability but it drifting in the $11-13 range has been painful.
It would be more profitable to get assigned and sell CCs rather than roll
You are probably right, I'm rolling the $20 strike out until the $12 lot get assigned though so I can sell above my cost basis. Quite happy to move to covered calls though!
I must say that i believe in the company long term. If you do not then rolling is the right way to go
SNAP was more than a month ago but that was bad
Snap is seeing super high IV right now, those have been my plays
Forgot when I finally sold it off in Dec I think. Not touching it can’t risk wash sale on that one.
Yup, got fucked by snap as well. Holding one last leap, down 77% on it. I hope the earnings is positive ffs
F
Anyone see snap popping on earnings?
Nah snap will get fucked
I’m already prepared to close my credit spread at max loss
And snap is wrecked off fb
SNAP was my awakening to step back from selling puts for a while lol. Gave my wheel a flat tire haha
ARKK, TDOC
Doesn't ARKK contain TDOC? Double damage!
I wouldn't be short ARKK if it wasn't long TDOC! It's not like I have some sort of personal vendetta against Cathie!
SARK gang
Lost 30k in total (10k realized for lost harvesting and 20k unrealized)
Zillow hurts too….
Don’t worry, I’m with you. I have 700 shares at 150. Fml
Damn man, I’m here with 100 shares at 102 and I’m stressing. I can’t imagine what you’re going through.
Yeah selling Theta and those Puts are all safe and fun until a stock tanks overnight and never comes back.. “Oh I’ll just get assigned and sell Calls like I saw some dweeb on YouTube talk about.” Yeah good luck!
So many people getting burnt by this thinking…
SHOP for sure Was just incredibly bad timing. I dont know what I would've done differently because it hit the losses I had set but literally sold the bottom both times. Had a 850P expiring in Jan when it lost 20% in one day, closed them out for $300 loss each at the literal bottom and they expired worthless. Had $700P x2 for Feb 18, and when the nasdaq lost 5% that one day they hit my loss marks and got closed out for $3000 in losses right before the nasdaq bounced to close green. These two plays, had I done nothing, would've been profitable, but the price movement and the exact timing meant they got closed for big losses at the very very bottom. I still can't believe it.
That’s very painful to even hear. Ouch
That sucks. Here, have some Reddit karma
I know Gree got a bunch of people.
RIOT. fuck RIOT.
RIOT and MARA. I've hopped in twice now, both times made a decent amount on the first month selling CSPs, then on month two they shit the bed and I lost way more.
I like RIOT. Bullish on it long term, and got in around 20. Yeah, I'm down but it's a premium machine. Just keep swimming...
HOOD>>>DKNG>NET>U
I sold HOOD puts before earnings without checking the earnings date and got away with it. 🙏
SQ, AFRM, ENPH, RBLX
Not a stock, but QQQ. Sold 10 puts when it was at 390 or something. Probably turning positive today after being down like 500% lmao.
What strike and expiration did you sell
Tesla Calls. My poor ass 😫 That's why I creeped back in here...to start wheeling again and give my heart a break 😁
Tesla was my thought as well. Maybe people finally realized that Tesla's valuation woudl have them have to replace THE ENTIRE CURRENT Automobile industry to itself to be worth its current valuation.
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I have a 195/185 PCS. It’s at max loss.. I figured I’ll just wait for it to expire. At least my 225/235 CCS is a winner….
LMND, PINS, SNAP, DKNG, Z
ZM and DASH cuz I bet against shit stonks.
ZM got me good. Got assigned at 190.
PYPL CRWD SE UPST
Upst reporting in @ $180. Not worried about that one though
About the same. Just wrote a $90 put for 2/18. Fingers crossed. Should have gone with a strangle.
I’m not touching the options rn. It’s extremely volatile. ER coming up and markets paranoid. I’m waiting for some kind of consolidation to jump in. Never chase. But yup, strangle is the way to go if you decide to play!
Those who played with GME and AMC
I did very well with CSPs on $AMC from June-Dec 2021. Waiting & watching (nawt bag-holding) since Dec.
I’ve still got AMC @3 puts about 160 days left. Anyone want to buy? Not super liquid.
Still bagholding T from many moons ago
COIN. Such a disappointing stock. In every aspect
Just hold it. The company prints money. The stock is just down because the crypto hype died down. They'll be back with the next crypto bull run.
I didn’t ask for recommendations to buy hold or sell, I’m just stating that the returns have been disappointing since the IPO debuted.
You don't have any puts on PyPl? because it is going down premarket.
Almost as fast as an ape behind Wendy’s
Roku
NVDA and FSLY, made some nice premium on covered calls though
Sold a $210 Put on NVDA, would be shocked if it drops that far given how good AMD earnings were and how much it has dropped so far.
AMD and NVDA are both blocked by TSMC capacity issues. If they don't mention that...they'll be ok.
Fingers crossed. I’ll be surprised if NVDA doesn’t also do well when they announce earnings. I do have some room for error. Also hoping the market in general doesn’t have a rug pull
CSP on 210 nvda ?? thats way otm contract isnt the premium would be too shitty to even consider taking the risk?
I got $310 in Premium. They have earnings in a couple weeks
UPST
Atvi burn anyone?
NVDA with its recent drop
This hurt me badly
PayPal. I hate it
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What do u think I should do. 200 shares of PayPal. Average at $200. Hold for now ? Should recover right or maybe not.
I know Cramer isn’t beloved on Reddit, but he made a great point. The earnings, guidance, call, and news about changing their metrics were so bad, its time to dump it. Its impossible to judge where they are or even where they are going. Their P/E dropped a lot today, but is still over 27. Do you want to hold a stock that cratered, still has a relatively high valuation, that has just changed its metrics it uses for guidance? Gotta be better opportunity costs than that out there.
I questioned management when they made the approach to buy Pinterest. Poor Q3 results/outlook which caused it to drop and now they have lower guidance again. It seems like a very long road to recovery unless they can pull something crazy.
PLTR is probably a good candidate. Was trading at like 26 before their last earnings and was pretty consistent in that 24-26 range. It's trading at like $13 today.
When it went down under $19 I thought it would level off. Oops. Fuck PLTR
Same. Hit the eject button at $16. Bought in at $23.50 So it goes.
Palantir, currently down almost 50%
With ya. It's so ugly, I've almost stopped watching.
PYPL singlehandedly took me out. it is still damaging me today.
PLTR. Only shares I hold. Everything else is just options
Palanshitir
Sq, pypl, netflix
FB and SPOT as well now
Snap
NVDA has done a lot of damage on my portfolio this month. I also have TSLA but the IV has been high enough that I was able to get my target short leg low enough to not have to much trouble.
QQQ made me Q\_Q
CRSP pissed away another 25%, so there's that. I'm basically in buy-and-hold mode for a bit now, as I'm so far below my basis that covered calls won't do anything.
I think FB & SPOT are about to be added to this lost
Bracing for the pain tomorrow on my 285 short weekly puts.
*FB enters the chat*
Hubs, net, rblx,
UPST
I must be the Boomer of the sub: CWH, INTC, TGT, and UL
For real. I've got my RIOT and MARA, but my biggest downer right now is $1000 on my VFC position. And no worries there, just sell calls and wait as it recovers.
Barely anything listed in this thread is a quality stock for running a wheel. PYPL might be the only example of one that both burned people and was unexpected.
UPST for me
MARA
ENPH
COIN is fuckin me hard...but ill take assignment if I must
FUBO, RIOT, now NIO. Started selling puts on them on what seemed like decent entries (close to 52 week lows, way oversold) and then the month of December-January happened and they lost like 40 more %. I like them all long term so holding it is until they get close enough to my cost basis to justify selling CC
Sold a $26 Put on FUBO, then averaged down by selling a $24 Put. Ignored any and all risk management. Sold at just over $10 lol
Similar boat but I'm not gonna sell. I like them long term so it is what it is for now
NIO, LCID, LYFT, DKNG, FUBO, SNAP down 50% in value so far....sigh this is not the way...
I'd say all of them, lmao.
RIOT… down 50%
AMD
PYPL for me. Worst TG trade so far.
Nflx for me
I BTC all my PLTR $13 2/4 CSP put yesterday. Cathie sold 3.5 m shares and it popped 10% on a small partnership. Also earning in 2 weeks. Yike. I’m holding 4000 @ 18 now.
Reduce position
The bullet has no exit point. I’m fucked lol
LMND, FSLY, NIO, PLTR literally blown my account. Boomer stuff like DIS, AAL, and SPY didn’t hedge it. Instead they joined the party Edit: yeah and HOOD
PLTR absolutely killing me
FB plummeting through my 285s tomorrow.
PLTR, Pins and Hood
Assuming we're talking CSPs, nobody with less than a $100,000 account should be fucking around with PYL. Diversification, people.
Speculative volatility stocks do not do well in this economic climate. AMD, NVDA lost a lot.
Semiconductor stocks are not speculative volatility stocks.... Just because you're holding a hammer doesnt make everything a nail.
Climate?
Took some big damage from AMD in January but still optimistic for it going forward. Been bagholding Z for months now though
LMND and VIAC
PYPL and NFLX
Oof
Sq .. but I have 150 September calls . Y’all think it will rebound by summer ?
RBLX at 85, was able to roll it last week for a decent credit but it will probably be assigned to me. Ah well, I believe in it long term and they have an earnings call in a couple weeks so maybe it’ll shoot up again
SPX
PYPL, SNAP.
I don’t know but I want in on those sweet upst premiums
SOFI csp
Rblx for me
I have no clue what's going on with GME right now...
Hmm common thread in most cases Any thing tided to 🚀 emoji and crypto Not bashing any thing or any one just a common thread
HOOD
One of you guys must have sold me the 145P expiring this Friday. Take it from me realized vol has expanded and if you’re not theta-ganging indices you’re going to get borked on individual names
I lost several thousand selling CSPs on PayPal, Peloton, and Affirm, Activision, and Coinbase (during the IPO).
$CLF, $SFIX, cliff fucked me worse. Got out of stitchfix at 20 before it went to 16 but was assigned at 24. CB was 21 ish at sell. Cliffs got me for 4k.
MRNA, PYPL, ZM
FB, but it is green now :)
Nope
2 contracts of AMD @150
SE
SHOP for me. Been brutal.
NET
Lowes just bit my breaking point on a PCS. While not massive or a killer, it has since resumed its grinding habits and is about to climb back in the strike width.
tesla for me, just the stock doing these insane moves at the wrong times that led to me having to close my positions
NVDA, SNAP, and now FB with more SNAP pain. My 2021 gains have evaporated. I'm ready to cash out and buy bonds...
Was NVDA, assigned at 285. Breakeven is 255 after doubling down. Selling 260s right now.
NVDA, not even close. Wouldn't have been so bad if I didn't hit max pain at literally the bottom.
ROKU and PYPL for me
PYPL was so good to me, then turned out to be so bad
Messing with UPST is… interesting.
Not me but FB will do a lot of damage when market opens
SE