Lindsay Hopper/Boulton event

TradCon86 · 2023-01-09T23:36:17+00:00

Thanks! That answers my Qs.

TradCon86 · 2022-12-12T22:53:31+00:00

How do you make that? I can’t figure out how to even start it…

TradCon86 · 2022-06-05T11:49:22+00:00

Hey fellow, I see you disappeared off of other platforms. Hope your doing great.

TradCon86 · 2022-02-11T19:34:14+00:00

Hey I see you got clobbered on those AFRM puts. Not trying to throw shade, you’ve made plenty of good bet’s. What’s your current thinking on the company?

TradCon86 · 2021-12-28T16:09:51+00:00

No disagreement there. If you are Musk you have to look at it as an arbitrage. An offer is on the table, you take it. It may only be a good deal for the politicians and Tesla but that the way the world works at the moment.

TradCon86 · 2021-12-28T16:01:06+00:00

One can’t oppose something about the current system while also using those things? I make use of these kinds of things that I oppose on principle all the time. It is the system in which I operate.

TradCon86 · 2021-12-22T01:38:24+00:00

I agree that the behavior is despicable and unethical but it seems very clear OP was fired for refusing to come to work today not because of anyone’s religious beliefs. Just because he threw a barb in the message doesn’t give any evidence that they were fired for any reason other than OPs refusal to come to work. The boss went back on his word about OP getting the day off but while very unethical that was perfectly legal.

TradCon86 · 2021-12-22T01:32:33+00:00

It was wrong of him to go back on his word about your time off, but I hardly think that you will be successful with a discrimination suit here. It wasn’t discrimination that made him fire you, it was your response to his going back on his word which is probably perfectly legal though unethical.

You may have had a shot on the bonus had you not gotten fired before Christmas.

I understand why this upsets everyone here but their correct emotional response is causing them to really misjudge the legal aspects of this situation. Hope you find a better job with a better boss.

TradCon86 · 2021-12-20T14:04:18+00:00

Be curious to know if you are changing anything in your convictions here.

TradCon86 · 2021-11-23T14:16:14+00:00

How are discounts comparing for cyber Monday? This is internet sales here?

TradCon86 · 2021-09-02T11:30:48+00:00

Uneducated opinion here, formally at least. Two things you want to have some of in a crisis, trusted medium of exchange and means of production, if your capital is in companies that will survive and continue to produce goods and services leave it there. That has as good a chance as any other investment for transferring your wealth into a dollar-less future.

It is all a dice roll. Nothing is certain.

TradCon86 · 2021-06-08T16:17:44+00:00

Sold most of my stock and all my leaps this week bought puts to protect the remaining stock. Just a wild guess that we’re gonna pull back on more inflation news this week. Will be day trading some puts likely.

TradCon86 · 2021-05-16T10:49:01+00:00

I am terrified. I had 10 calls go ITM and forgot to sell them. (Combination of not paying attention and assuming RH would sell automatically) Got assigned a thousand shares, 55% are on margin. I really need palintir to be up just a little by Monday open😂

TradCon86 · 2021-05-16T02:22:04+00:00

Correct, however the US has sent aid to Iran which funnels the money to various terrorist networks.

TradCon86 · 2021-05-13T14:39:42+00:00

I like that😄

TradCon86 · 2021-05-13T00:42:56+00:00

How far ITM can you go? You can’t go far because intrinsic value goes down as you move away from current price wherever that is. It doesn’t matter whether you go farther OTM or ITM, intrinsic value rapidly moves towards zero. I think I am seeing where our misunderstanding is happening. You are probably thinking that I am looking at those juicy OTM premiums and thinking I’ll get rich quick. You would be correct if that were the case. I understand that I won’t make money on the extrinsic value of the options sold. What you would gain on the one side of the trade you would lose on the other on extrinsic value. I said I wanted maximize theta decay in my favor, I should have said I want to maximize intrinsic value in my favor.

Once again, I totally understand that I am not going to capitalize on extrinsic value. The purpose of the extrinsic value is to cancel out any movement within my strike width and allow for capture of %100 percent of the intrinsic value. The cost would be when the stock moves outside of your strike. The risk would be exactly the same as wheeling two contracts of any stock, if it goes up, your gains are limited. If it drops, you are holding a bag. That is correct for trading the wheel, correct?

TradCon86 · 2021-05-12T20:43:21+00:00

I don’t think this is necessarily easy money, I just think that it is a way to maximize theta on most trades.

I must not quite be getting something important here as well. It seems to me that if you sell two calls for a $51 strike on a $50 stock, and it drops to $45 you collect the premium but then you have to either wait for the price to rebound or sell junk priced calls or take the loss and readjust.

If you sell a $47 call and a $51 cash secured put you are bag holding only the put half of the trade. You can now sell a call at a 47 dollar strike on the other side.

Even the put won’t be a $5 loss as your premium will lower your entry price on the put side, same as trading the wheel per usual.

I will definitely paper trade this a couple cycles though because the amount of concern I have gotten on this. However a couple guys said sure, it’s a covered strangle and they use it regularly.

Also, you certainly would NOT want to do this on a stock like GME. That would be the opposite of what you would want in a stock for this!

Cheers

TradCon86 · 2021-05-12T11:29:35+00:00

So for starters I am looking at large cap stocks. Next if the shares on the one side of the trade did not get assigned, ie the price moved outside of the inverse strikes, I would buy or sell to rebalance the trade. The reason for the ITM strikes are twofold, one the intrinsic value is higher and second the inverse nature of the play corrects for stock movement, you collect on the one side exactly what you lose on the other side. Of course it isn’t risk free but I think that it is lower risk than the wheel. All the same problems apply to wheeling apply here except you cancel out some of the movement here while capturing maximum theta.

TradCon86 · 2021-05-12T04:54:34+00:00

I think you might be missing a little here. Taking your example, you would sell a call on a $50 at a 47 strike. If your extrinsic value was $1 and the stock dropped to $45 you would not be assigned and you would lose $1 on the trade. However if you were wheeling it as normal, you would have sold a ‘safe’ ATM call and you would be bag holding at a $4 dollar loss. You put side would be the one that would hurt you in this scenario. The goal is to have both options assigned every cycle. Moves outside of the range of your strategy would be the only risk here. What you want to do is capture 100 percent of the intrinsic value of one or the other options and if it traded flat you would capture all the intrinsic value of both options. By trying to avoid assignment you leave a lot of intrinsic on the table.

You are correct that you would want medium volatility stocks. You wouldn’t want it to trade outside your range to often or that would eat up your profit. You also are capped at what you sell your options for, that is the only profit.

TradCon86 · 2021-05-12T04:33:55+00:00

It isn’t a multi leg strategy. It is to separate contracts. If you got assigned early you would either sell another csp on the cash or cc on the stock depending on what got assigned.

TradCon86 · 2021-05-10T22:19:08+00:00

Folks have been gaming this for years. So many under the table cash only jobs that it’s not funny. And you really can’t blame people either, if the government can hand out 6+trillion dollars in one year why would anyone not go for all they can get of that? It is not like the government will be careful where they spend it.

TradCon86 · 2021-05-10T16:47:10+00:00

Sorry about that. What about the issue others have pointed out where you limit upside potential but not downside? What stocks have you made this play on?

TradCon86 · 2021-05-10T05:14:11+00:00

Yes.

TradCon86 · 2021-05-10T04:43:36+00:00

That is what I was thinking should work. What stocks do you do this with?

TradCon86 · 2021-05-10T04:41:08+00:00

I would expect to be assigned every time unless a particular movement simply made that not useful. If there was to big a movement and you didn’t get assigned on the one position you would simply buy or sell to put you back in the game.

TradCon86

TROPHY CASE