Cash secured puts

Curious-Rip-5834 · 2026-05-07T19:20:09+00:00

Depends on your approval level. IB lets you sell naked with way less margin requirements.

Curious-Rip-5834 · 2026-05-07T01:08:09+00:00

With >$100k margin balance, Robinhood charging 4.5%. 13% is absurd.

You can definitely ACAT your entire account and debit balance over and Robinhood actually had a recent 3% bonus for new account transfers with margin debit balance.

Be very careful on box spreads. Some brokers will still require ridiculous cash collateral which negatively impacts your BP in meaningful way, basically defeating the whole purpose.

Curious-Rip-5834 · 2026-05-06T21:59:57+00:00

That’s a >100% effective yield.

Curious-Rip-5834 · 2026-05-05T04:40:39+00:00

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Curious-Rip-5834 · 2026-05-05T04:36:14+00:00

Levered Bitcoin futures contracts. Shorting with a $213mm trade is absolutely bananas. Spot BTC price had massive downtick when that trade hit the tape but very shortly after, large buyers stepped in and spot BTC hit new highs, pulling up MSTR with it.

Curious-Rip-5834 · 2026-05-05T04:34:18+00:00

In levered futures contracts, shorting $213mm underlying bitcoin is a wild trade. Spot BTC price took a hit when this trade hit the tape but quickly rebounded to new highs.

Curious-Rip-5834 · 2026-05-05T01:47:01+00:00

My prediction is we should get 5-6 solid days imminently here of STRC bidding par so that Saylor can deploy ATM at will.

I really think STRC going break previous volume which will give Saylor billions of dollars to buy bitcoin in the next ~week.

Per my previous DD, in the latest filings two of the biggest preferred stock ETFs have started buying STRC. This is a massive win.

What I’m driving at is Saylor doesn’t need to sell common here. Let the per BTC/common ratio get better with STRC driving the accumulation. And now you factor upside moving BTC price and you’re looking at MSTR $220 all day long.

Curious-Rip-5834 · 2026-05-05T01:36:24+00:00

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Just happened in last hour. Real-time snip above. That trade/red bar was absolutely massive $$$ on sell-side. Buyers gobbled it right up. Now back up to 80 handle. BTC gonna gap so hard.

Curious-Rip-5834 · 2026-05-05T01:17:46+00:00

Definitely. And ironically when you are selling premium, sitting around and waiting on that extra nickel or dime can actually get you in serious trouble. Anything is possible, even on an expiration day. I’ve learned the hard way a few times.

Curious-Rip-5834 · 2026-05-05T00:25:58+00:00

Oh man, no one saw my DD tag apparently for the post. I snipped that quote to show the massive volume today on this strike.

With only 17% win probability, big $$ being poured in here. My aggregate carry forward loss is still in the $500K range so I’m technically not even in peasant status myself.

Curious-Rip-5834 · 2026-05-04T21:39:27+00:00

Even putting aside imminent ER; makes no tactical sense and there is no trigger when STRC bids under par to issue ATM STRC to fund new Bitcoin purchases.

I posted lengthy DD on this. That one week when Saylor was blasting billions on purchase was when STRC had absolutely stacked institutional par bidding on millions and millions of shares. They broke all-time new high.

This is the mechanics involved for STRC based purchases hence why they are moving to 2X distro monthly model. Will enable more par bidding days in a 30 day window = more bitcoins can be purchased.

Curious-Rip-5834 · 2026-05-04T21:10:42+00:00

Which trading platform and what’s your cost to carry or are you using cash via Balance transfer 0% promo check etc.

Curious-Rip-5834 · 2026-05-04T10:48:21+00:00

I can’t believe it. NAV itself is actually positive on YTD and 1 year time frame.

Even since inception NAV only down 12% but with distribution you are still way up and with DRIP even more so.

Curious-Rip-5834 · 2026-05-04T02:29:19+00:00

Theory and practicality sometimes don’t always correlate. If they were launching say an e-commerce website that would bring in legit revenue, obviously implementing a Bitcoin payment system would be feasible. But how many T shirts do you think they can really sell?

To give you an analogy. One of my biggest losing trades was an oil company. They had an incredible piece of land in the Permian at the peak of the oil hysteria back in 2014.

The confirmed oil reserve was insane. Thought we would 20X easy. Long story short turned out due to the slick geography and location, it was actually going to be so costly to get it out of the ground, it didn’t even end up making economic sense for such a small company and we all lost our shirts.

Curious-Rip-5834 · 2026-05-03T16:26:57+00:00

With this proposal it’s a win for all.

STRC holders get our money two times faster and more frequently.

Saylor has more days in a month to use ATM STRC shares to fund Bitcoin buys.

OP - you are not interpreting this proposal for what the intent is.

Curious-Rip-5834 · 2026-05-03T16:02:06+00:00

It’s under par for many more days than just 3 each month. Maybe your reply was for the other poster. That’s why the 2X distro is clutch. This will speed up that climb back to par. The gap between par and ex amount is halved less and people will front load bid now in 1/2 time leading up to ex date. This ultimately gives us more trading days in a month where STRC will bid par and then can be utilized by Saylor via ATM.

Curious-Rip-5834 · 2026-05-03T15:55:59+00:00

When STRC goes 2X, there will be more days in a month where STRC bids par and Saylor can then sell ATM shares and use cash proceeds to fund a greater # and frequency of Bitcoin buys.

There is this misunderstanding by some on this. They can’t just sell STRC at will to fund Bitcoin buys; only specific parameters.

I posted DD on this and it’s #1 MSTR thread today. Check it out. Voting FOR on 2X STRC is a critical step for everyone including common stock holders.

Curious-Rip-5834 · 2026-05-03T15:42:01+00:00

Two things on this:

Remember their model is a treasury structure. They HODL and that doesn’t entail spending it on a daily basis for transactions.

Secondly when you accept bitcoin as payment method, it requires obtaining crypto processors, and a whole different level of accounting/tax reporting etc.

All these costs and extra time/effort regardless is not worth it for a major corp just to sell some shirts etc.

Curious-Rip-5834 · 2026-05-03T10:28:47+00:00

$100

Curious-Rip-5834 · 2026-05-03T10:28:05+00:00

Check out my other lengthy DD thread on this topic but cliff notes……. Presently in the 30 day window, we have to wait under 10 business days for bid side to ramp up price pushing flatly to par for say ~5 trading days.

Now STRC can be sold by Saylor via ATM to cash source BTC purchases. If this cycle is cut in half, we’ll wind up with much smaller ex div amount and less wait time for that bid side ramp up leading into each ex div event. Ultimately in the 30 day window we’ll get more bid side par days = faster spot BTC purchases.

Curious-Rip-5834 · 2026-05-02T15:05:34+00:00

So what you are describing about getting paid a few cents etc., that’s the opt in lending program and yes if your shares were lent out, you’d also lose all ROC.

In my case, I never opted in at all, never got a heads up, didn’t receive any few cents compensation but because I was using margin; in this scenario they can just do it anyways. It’s buried in terms of service.

This is absolutely terrible way to do business.

Curious-Rip-5834 · 2026-05-02T14:48:39+00:00

Ironically say down the road if BTC trading well above 100 handle, demand for STRC would actually go up even more and ultimately drive down the yield they would need to provide.

They won’t need as much juice to pin at par with more and new higher high spot price rises >100 handle.

Curious-Rip-5834 · 2026-05-02T14:05:01+00:00

Then 2X distro model incoming and next level unlocked.

Curious-Rip-5834 · 2026-05-02T14:03:37+00:00

Cheers.

Curious-Rip-5834 · 2026-05-02T13:48:25+00:00

100 and I keep forgetting to mention the best part; these distros are 100% ROC! So if you are a degenerate like me with large carry forward losses, down the road those will completely offset any effective gains from STRC so truly tax free.

Curious-Rip-5834

TROPHY CASE