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re: Options Trading Thread

Posted on 7/18/23 at 5:52 pm to
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 7/18/23 at 5:52 pm to
Do you have a TD Ameritrade or Schwab account? Think or Swim is what I use, but others also have fully informative option tables.
Posted by Jjdoc
Cali
Member since Mar 2016
54700 posts
Posted on 7/19/23 at 6:25 am to
You playing earnings on TSLA?
Posted by beaverfever
Little Rock
Member since Jan 2008
34285 posts
Posted on 7/19/23 at 6:49 am to
The calls on the hot mega caps are so expensive. I’ve never sold covered calls but I might have to start.
Posted by Jjdoc
Cali
Member since Mar 2016
54700 posts
Posted on 7/19/23 at 8:28 am to
Poor man's CC
Posted by Artificial Intel
Member since Jan 2023
210 posts
Posted on 7/19/23 at 8:56 am to
I’m long TSLA calls. They have been consistently appreciating. May cut sling load on options in October and just let my original shares ride.
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 7/19/23 at 9:19 am to
quote:

You playing earnings on TSLA?


Most likely. As we get closer to the earnings date, I’ll see where it stands.

ETA: Just realized I was looking at another symbol. Today is THE day for TSLA! Checking the option table now.
This post was edited on 7/19/23 at 9:45 am
Posted by Artificial Intel
Member since Jan 2023
210 posts
Posted on 7/19/23 at 9:44 am to
quote:

Most likely. As we get closer to the earnings date, I’ll see where it stands.


Earnings is today…….
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 7/19/23 at 9:45 am to
Thanks. Seems like I need some help today. Too many symbols on my watchlist.
Posted by GamecockUltimate
Columbia,SC
Member since Feb 2019
8679 posts
Posted on 7/19/23 at 12:33 pm to
Thank you guys for the input. il look into the youtube channel, and then maybe the podcast
Posted by GamecockUltimate
Columbia,SC
Member since Feb 2019
8679 posts
Posted on 7/19/23 at 12:33 pm to
quote:

Do you have a TD Ameritrade


I have a TD account
Posted by Jjdoc
Cali
Member since Mar 2016
54700 posts
Posted on 7/19/23 at 12:34 pm to
I'm looking at a narrow PCC on NFLX.

Earnings are today. I can buy an OCT call, Sell an aug 4th for $2000! Not looking long term, I want to close tomorrow.,
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 7/19/23 at 10:03 pm to
Good deal. Then you should have full access to Think or Swim. Depending on what you want to do with options and how much account equity you have, you’ll need to gain approval levels for certain types of option trading.

Take your time and learn, don’t let yourself be guided by emotions (only data - yes, easier said than done, I know) and follow your trading plan. Lots of people here are willing to help along the way. If nothing else, we’re a pretty good support group when a trade blows up on someone.
Posted by dragginass
Member since Jan 2013
2975 posts
Posted on 7/19/23 at 10:16 pm to
quote:

. If nothing else, we’re a pretty good support group when a trade blows up on someone.


This all me, ha. Let me teach everyone a quick lesson about diversifying entry point dates when you find yourself looking to deploy capital. The 3rd week of May I opened about 10 IC positions in SPX, SPY, DIA etc. The call sides got BLOWN THE HELL UP. I finally had to eat most of them this week. I couldn't roll for even a reasonable debit, and the inversion required to make it so was insane. Time to regroup.
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 7/19/23 at 10:24 pm to
I skipped TSLA and NFLX. Went with a couple different short put strikes on IBM instead. I was heavy into 0DTE SPX short call spreads and had to be careful of how much more risk I was putting on today.
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 7/19/23 at 10:32 pm to
quote:

The call sides got BLOWN THE HELL UP. I finally had to eat most of them this week.


I feel your pain. Yeah, it was 45 DTE SPX ICs that got me too - call sides of course. I’ll be eating some well done crow next week if the S&P doesn’t close below 4560. I’ve been trading longer dated SPX contracts in my investment account and short dated ones in my trading account. Trading account has been sizzling and that’s where I draw my “salary”. Investment account has taken a couple of nasty hits this year though.
Posted by Jjdoc
Cali
Member since Mar 2016
54700 posts
Posted on 7/20/23 at 8:47 am to
quote:

I skipped TSLA and NFLX.



I could not bring myself to do it either. Now that it's (NFLX) crashed, I'm looking for an entry point.

The issue for me is to justify that move (I like keeping 50% ish cash) would mean I sell my long calls of 2024 on AMZN....

Just not ready to do that


This post was edited on 7/20/23 at 8:55 am
Posted by Jjdoc
Cali
Member since Mar 2016
54700 posts
Posted on 7/20/23 at 4:21 pm to
I did enter a short term PMCC on NFLX. 60 days out on the long and a higher delta that paid $1095 for Aug.

Posted by dragginass
Member since Jan 2013
2975 posts
Posted on 7/20/23 at 6:39 pm to
Apparently we have a serial downvoter in these threads. Lame.


Anyway, I'm hoping today was the start of a small retracement, at least in S&P.
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 7/20/23 at 8:35 pm to
I’ve noticed that too.

Getting back down from that 4560 level didn’t hurt my feelings at all… even though I did have a large lot of 0DTE 4525 short calls that got a little warm to the touch (4527.56 low today )
Posted by Jjdoc
Cali
Member since Mar 2016
54700 posts
Posted on 7/20/23 at 8:46 pm to
quote:

Anyway, I'm hoping today was the start of a small retracement, at least in S&P.




I just could not see the down side to this entry.

I tried hard to talk myself into it yesterday and could not. But when it dropped $42 in a day...

I had to.
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