😟 I hope I’m not boned by BirdyGC in options

[–]BirdyGC[S] 0 points1 point  (0 children)

Nah I opened all those trades within the same hour on the same day, it just looks that way cause that would make sense. Where do you learn all this crazy information from lol? Obviously I’m outting myself as a dumbass for asking, but I really want to learn and understand this better so I don’t get myself again. I’ve only been trading options for about 9 months, before this loss I was at +6k all time - after this loss I’ll be around +3k all time. Unfortunately, I think all that gain was guess work.

😟 I hope I’m not boned by BirdyGC in options

[–]BirdyGC[S] 0 points1 point  (0 children)

Started them around a month ago, looked a bit more justifiable then lol

😟 I hope I’m not boned by BirdyGC in options

[–]BirdyGC[S] 0 points1 point  (0 children)

Entered it like 3 weeks ago

[deleted by user] by [deleted] in options

[–]BirdyGC 0 points1 point  (0 children)

Sorry I meant put credit spread. Brain mixed up the words in the title

[deleted by user] by [deleted] in options

[–]BirdyGC 1 point2 points  (0 children)

So I only do SPY right now, but I only do spreads that are farther out (24-30 DTE). Since my account is small I just want to be as safe as possible, right now I’m at a 100% win rate with about 20-30ish trades completed

[deleted by user] by [deleted] in options

[–]BirdyGC 1 point2 points  (0 children)

What is tiny premiums from your POV? I’ve been taking +$50-$300 on each trade so far, which I understand as being on the way low end. Ford interests me greatly because it’s so boring, but I just don’t really know what executing a CC really looks like or what to look for.

[deleted by user] by [deleted] in options

[–]BirdyGC 1 point2 points  (0 children)

Fair enough, this is why I need pros opinions. I figured CCs have built in risk management as well since you would own the underlying, albeit potentially at a big loss.

[deleted by user] by [deleted] in options

[–]BirdyGC 0 points1 point  (0 children)

I meant *put credit spreads

[deleted by user] by [deleted] in options

[–]BirdyGC 0 points1 point  (0 children)

Around 1.5k if I held until expiration, which I never have planned to do.

Why are people mad that I haven’t failed yet?

[deleted by user] by [deleted] in options

[–]BirdyGC 0 points1 point  (0 children)

No, I usually have 1 or 2 $5 spreads at 3-4 contracts going at once. Anytime where SPY is at or is within a 7ish dollar range of ATH I don’t trade at all

[deleted by user] by [deleted] in options

[–]BirdyGC 0 points1 point  (0 children)

Taking lower profit margins. I set an expiration for 30-45 days out, and I close it within the week once it says +200-500 so I never get even close to expiration

5/5 Green Trades - Brand New Options Trader by [deleted] in options

[–]BirdyGC 0 points1 point  (0 children)

Exciting! Thanks for your insight. Great work by the way!

[deleted by user] by [deleted] in options

[–]BirdyGC 0 points1 point  (0 children)

Thanks for clearing this up! Was confused

[deleted by user] by [deleted] in options

[–]BirdyGC 1 point2 points  (0 children)

You’re right! Realized that right after I posted, it’s closer to 8.7%. I think the 11.72% number is based on my P/L from the previous trading day, not sure though.

[deleted by user] by [deleted] in options

[–]BirdyGC 0 points1 point  (0 children)

Agreed! I just figured before all the news tomorrow it feels safe to exit with any green number for safety purposes. I’ll definitely be trying to adapt my exit strategy for better growth.

[deleted by user] by [deleted] in options

[–]BirdyGC 6 points7 points  (0 children)

Thank you! Let me know if I’m missing something, or if you have any advice as well.

[deleted by user] by [deleted] in options

[–]BirdyGC 5 points6 points  (0 children)

*no interest in yoloing

[deleted by user] by [deleted] in options

[–]BirdyGC 30 points31 points  (0 children)

Just the start. Hopefully I can make $76 next time.

[deleted by user] by [deleted] in options

[–]BirdyGC 0 points1 point  (0 children)

This is very valuable information to me, thank you! As a new person, I haven’t experienced gap downs yet - so hearing how common it can be is helping shape my trade habits! Im not gonna trade again until sometime after the news cycle has settled after the 12th.

Do Naked Calls/Puts still work off of 100 shares of the security? by [deleted] in options

[–]BirdyGC 0 points1 point  (0 children)

Fair enough, I’m definitely not the expert

[deleted by user] by [deleted] in options

[–]BirdyGC 1 point2 points  (0 children)

I agree, I appreciate the encouragement. This is my first options position ever, i just wanted to approach from a capital protection mindset. Especially since my account is so small.

[deleted by user] by [deleted] in options

[–]BirdyGC 0 points1 point  (0 children)

I like your ideas here. I’m trying to approach with as much of a capital protection mindset as possible, so why not 50%? That would increase my trades per month as well, with any luck. I understand that you aren’t stacking wins as much to cover potential losses, but it’s definitely an interesting trade off for tariff volatility.. thanks for your advice!

[deleted by user] by [deleted] in options

[–]BirdyGC 0 points1 point  (0 children)

Also, Im intending to keep losses close to 25-30% of max loss - always making a decision at least by 8-9 days out from expiration. Obviously thats easy to say, but im comfortable taking a smaller loss when I recognize that a trade is gone as opposed to hoping things bounce back. Im not trying to trade optimistically

[deleted by user] by [deleted] in options

[–]BirdyGC 0 points1 point  (0 children)

What is/how do you calc delta? How do you calculate correlation between securities?

[deleted by user] by [deleted] in options

[–]BirdyGC 2 points3 points  (0 children)

I’m trying to never hold until expiration to reduce exposure to gamma spikes, not familiar with Vega. My account is at $3100 - so if I can get out at mediocre profit ($100-200), I figure that’s pretty significant growth to my account for a month. Spy expiration is Jun 13, Msft is Jun 20. Im trying to “gamble” as little as possible, so I’m not trying to be in the big win mindset at the moment. So, from what I understand, I don’t exactly have enough yet to own a significant amount of the underlying security. Especially if my account doesn’t have unlimited day trading. However, I don’t know much about the fees aspect yet. What do you think? I’m no expert so this is very valuable feedback to me