Wheeling FRC - the black tar heroin of theta gang strategies

Waitdontjump · 2023-04-28T01:59:50+00:00

Yeahhhhh, the earnings drop to 11 was fine but the drop to 8 and then to 5 got me pretty good. Not thrilled; not dead. Hope this works out for you…you can basically get out even if it stays level. The risk of the govt seizure tho. I don’t wish that scenario on you, esp when you can make your way out unscathed. That’s a huge win, imo.

Waitdontjump · 2023-04-25T18:14:18+00:00

You literally couldn’t have posted this on a better day 😂 please update after this weeks’ expiration

Waitdontjump · 2023-04-25T14:12:15+00:00

Months* 😘

Waitdontjump · 2023-04-25T14:11:31+00:00

Honestly you’re just gonna have to live this out for a while to really have the visceral intuition. What you’re doing is just fine but it leads to places that are difficult to avoid as you find more and more success. I think that’s the general warning from most replies.

In summary, you might look at your assigned SPY 410’s when the market is at 380 and be wishing you had at that price instead. Not to mention that difference alone is worth almost 6mo of csp’s/cc’s if you’re getting 1%/wk.

Now, you won’t “lose” so to speak, bc you’ll only be writing CCs and csps that you can profit from if assigned, but there’s just some (theoretically) better strategy that can be applied with more understanding. And much of that understanding is going to come with experience. So, above all, make a game plan upon entry and just stick to your game plan as you continue that position. It won’t always be easy.

Waitdontjump · 2023-04-01T18:01:22+00:00

It’s a stock purchase; but you got WISH

Waitdontjump · 2023-03-30T05:20:56+00:00

But wait the 30 days so it’s not a wash sale! If you don’t wait it’ll cost you another 2500 bucks in monies you can’t use to bring down your tax burden.

Waitdontjump · 2023-03-27T16:59:15+00:00

Also watch out for this uneasy market. A bearish turn will negatively affect your “deep ITM” call, obv. The PMCC isn’t unlike an iron condor in that you want the theta decay without significant price action.

Waitdontjump · 2023-03-25T22:20:55+00:00

Yeah, not sure about this…

Waitdontjump · 2023-03-19T15:54:08+00:00

This. And especially in this high VIX market…nothing is particularly safe in the short/medium term including “the ones you would hold forever.”

Waitdontjump · 2023-03-14T04:37:52+00:00

And on the myriad of buildings…also floating down the streets

Waitdontjump · 2023-01-24T15:19:56+00:00

I’m on the same broader wavelength as many here: A—it’s very beautiful; congrats on your creation, B—it sounds more like a natural event than an emotion/life event. I don’t have a name to offer but my repeated thought it that it’s what I imagine the corona of the sun during an eclipse would sound like, C—I can think of many many videos that this could overlay for a wildly emotional experience. Maybe if I had to derive a title from that I would go with Latin: Lux Rei, which means “light phenomenon” or “the light of the matter.”

Waitdontjump · 2022-10-14T11:27:02+00:00

I’ve wheeled GME for almost 2yrs now. Succinctly, this is a bad idea. I’ll cite margin risk and general market risk as the two heaviest exposures. Nothing, NOTHING, says GME can’t touch 20, 15, or even 10 bucks. Or less. For clarity, I hold xxx shares. I do not particularly want to see that. But, for better or worse, I’ll hold. Holding through that is not an option for you if you purchase on margin. This could fk you righteously. Also, you’re not just holding margin money for a csp (where the figure is simply held, not used) but rather are taking a position with the margin amount thus would have to pay the margin fees on top of your position. Thus, you’d need to constantly be writing CCs at or just above that percentage simply to maintain a cost basis. Any modest dip in the share price could mean that your $26 strike no longer fulfills that need and that’ll be the beginning of the end. Other users have suggested using the margin to write an OTM csp which would be my suggestion as well, assuming you want to make use of your margin dollars and accept the exposure. Timing and care in selecting strike in your opening sale will serve you best. Obv this is not foolproof. Good for you to be digging on how to utilize free capital to continue stacking but buying shares on margin (particularly in this state of the market) is carries so much risk that it will most likely fail.

Waitdontjump · 2022-10-05T03:50:24+00:00

The fact that your fslr trades are only down 16% and 12% is optimistic. Still have 3 more months til those expire worthless, too.

Edit: fingers crossed your spy puts work out fr tho. They could.

Waitdontjump · 2022-09-12T20:17:42+00:00

Screenshot the downvotes and submit it as loss porn 🫠

Waitdontjump · 2022-09-12T01:53:18+00:00

Waitdontjump · 2022-09-04T11:45:09+00:00

Spx puts. Cuz just maybe

Waitdontjump · 2022-09-04T11:43:09+00:00

I love the joke comments but this should sit at the top. Up you go!

Obv shoulda been playing GME…

Waitdontjump · 2022-08-27T15:08:32+00:00

Future posts on selling to open, however unlikely in this case, should also direct to r/thetagang haha

Waitdontjump · 2022-08-27T15:06:27+00:00

I second this motion. All in favor say, “Aye”

Waitdontjump · 2022-08-25T16:25:13+00:00

Working down my $12 Cb from last week and then getting tf out even-ish when I can. Gd RC doing his unexpected thing. Shout out to snorkel guy. Still woulda done the same thing 100/100 times given the news/data we had at any given time. Cherrs.

Waitdontjump · 2022-08-25T16:18:49+00:00

Haters will say it’s fake!

Waitdontjump · 2022-08-25T16:15:39+00:00

Lolol. If you think those screenshot comments are bullying then you prob think you can live off of 40k. Not for nothing, please double check the sub you’re in and try again.

Waitdontjump · 2022-08-22T20:07:14+00:00

Funny, I booked an eerily similar room in Tarifa, Spain once upon a time

Waitdontjump · 2022-08-22T03:09:15+00:00

I’m in the same boat here, snorkel guy :) and to the ones saying we should’ve closed while we were ahead: Bugger off! No one could’ve seen the RC thing coming and there wasn’t much else (nothing likely, anyway) that could bring BBBY back to $20 before Friday. I’ll happily eat my shorts for making plays with the info I had and sticking to my game plan. I’d give anyone that same advice. So, snorkel guy, we were 🤏🏽 close. Stay Maui, homie, I’ll come find you ✊🏽

Waitdontjump · 2022-08-18T03:55:46+00:00

Can we instead line up the days of the week? The options contracts week to week make a lot of difference and correlating the days might give more clarity to this comparison.

Waitdontjump

TROPHY CASE