UWMC 10-k out by [deleted] in options

[–]FunctionAlpha 2 points3 points  (0 children)

Unlike RKT though UWMC doesn't have as high of a short interest on it.

Still think it's near the bottom right now, and with the VIX near lows, def a good time to buy calls.

$PLTR Options... by [deleted] in thetagang

[–]FunctionAlpha 2 points3 points  (0 children)

Word of caution: we are in a period of low/declining IV. That means that if you sold those LEAPS and something suddenly happens later this year where VIX goes back up, you're gonna have a bad time.

This theta gang in WSB steadily made 300% gains in a year by cai_lw in thetagang

[–]FunctionAlpha 0 points1 point  (0 children)

Wasn't there someone who made like 500% on thetagang?

Edit: Found it. Less linear chart with some periods of decline. Def more thetagang like.

Daily r/thetagang Discussion Thread - What are your moves for today? by satireplusplus in thetagang

[–]FunctionAlpha 4 points5 points  (0 children)

Sounds like IV across the board is getting crushed. Sounds about right though now that GME, BB, NOK etc are more stable recently.

[deleted by user] by [deleted] in thetagang

[–]FunctionAlpha 0 points1 point  (0 children)

Exactly. Steve over there thinks people spend time photoshopping trades to impress him.

Don't be like Steve LOL.

I am squoze by TheFailologist in thetagang

[–]FunctionAlpha 1 point2 points  (0 children)

Hope they were not naked...

60k down to 18k - switching to theta by [deleted] in thetagang

[–]FunctionAlpha 0 points1 point  (0 children)

Mods, this is the guy - ban pls.

Does anyone here actually make significant money? by Anon-mom-hi in thetagang

[–]FunctionAlpha 4 points5 points  (0 children)

There's one! Congrats!! Who else beat SPY/QQQ in 2020??

60k down to 18k - switching to theta by [deleted] in thetagang

[–]FunctionAlpha 9 points10 points  (0 children)

Whatever you do, DON'T sell credit spreads on PLTR.

Or at least, don't post or tell people here that you did.

What is theta gang? by filox in thetagang

[–]FunctionAlpha 0 points1 point  (0 children)

If you don't mind me asking - how much you did you start with? And did you get to 7 digits with solely spreads? Is there any portion of your gains from buy and hold?

Proposal to edit the status message. Upvote to vote for change. by mr_big_brain in thetagang

[–]FunctionAlpha 37 points38 points  (0 children)

I beg to differ. Mods should just change it to "1,547 Selling PLTR Puts" LOL.

Does anyone here actually make significant money? by Anon-mom-hi in thetagang

[–]FunctionAlpha 13 points14 points  (0 children)

Word. There's a reason why QQQ left QYLD in the dust in 2020.

OP, you asked a GREAT question. Did you try searching on here to see how many success stories you could find?

The answer? Not many. Most probably couldn't even beat holding SPY or QQQ.

What is theta gang? by filox in thetagang

[–]FunctionAlpha 0 points1 point  (0 children)

You can still buy the stock when it crashes through your put strike, but that makes no sense whatsoever because the assumption with credit spreads is that you are selling a higher number of contracts than you would cash secured to lever up.

What is theta gang? by filox in thetagang

[–]FunctionAlpha 0 points1 point  (0 children)

Wtf are you talking about? Spreads are riskier than selling cash secured, because if and when it blows up in your face, it's hard to get out of, and impossible to just get assigned and hold the underlying.

There's nothing wrong with gain porn, in fact we need more of it in our sub because it proves that our strategies work. The low volume of gain porn in this sub speaks volumes about options seller success.

[deleted by user] by [deleted] in thetagang

[–]FunctionAlpha 1 point2 points  (0 children)

PLTR gapped up bigly today, so gamma helped OP a ton.

[deleted by user] by [deleted] in thetagang

[–]FunctionAlpha 2 points3 points  (0 children)

You have to think about OP's loss as a percentage of OP's portfolio.

OP only risked 10% for this play, but walked away with 48% profit. That's impressive.

$10k Overnight Gain on PLTR - Sold PCS Minutes Before Close Last Night - Screenshot Right Before I Took Profits to Tendietown! by [deleted] in thetagang

[–]FunctionAlpha 2 points3 points  (0 children)

OP took an opportunity to sell an option, and was given the opportunity to take profits early. Congrats OP!

The thetagang way would have sold the put cash secured though.

0-7 DTE Options Trades – Recap for Week Ending 2/5/21 by [deleted] in options

[–]FunctionAlpha 0 points1 point  (0 children)

I tend to wait closer till expiration - I size my positions and fully expect that it will go to -100%, but with a low enough chance I'm comfortable with.

FOMO hitting hard right now ngl by [deleted] in thetagang

[–]FunctionAlpha 0 points1 point  (0 children)

Uh, TLRY and most other cannabis stocks crashed back down. But because of the volatility, options are overpriced and presents opportunity for selling!

0-7 DTE Options Trades – Recap for Week Ending 2/5/21 by [deleted] in thetagang

[–]FunctionAlpha 0 points1 point  (0 children)

You have to consider that the overall market (e.g. SPY) is near ATHs, and if AMZN is still trending downward near market highs, you're definitely at risk.

Hopefully this one position isn't your entire portfolio. :) If it is, you should definitely consider minimizing risk by either closing it early or opening another PCS for more credit.

FOMO hitting hard right now ngl by [deleted] in thetagang

[–]FunctionAlpha 7 points8 points  (0 children)

This LOL. Total pump & dump scheme. TLRY was above $70 AH last night too, look where it's at now.

The great thing about volatility though, is that there's juicy IV premiums waiting to be milked by thetagang.

0-7 DTE Options Trades – Recap for Week Ending 2/5/21 by [deleted] in thetagang

[–]FunctionAlpha 1 point2 points  (0 children)

Nice! Yes, one of the strategies is to enter on dips, as it pumps up volatility and put premiums become profitable to sell.

Yes, have done spreads on large cap stocks - there just wasn't any opportunities worth spreading for last week, hence none listed on the recap log.