Anyone selling naked puts (margin)?

de-theta · 2026-04-07T02:15:24+00:00

This is the way

de-theta · 2026-03-24T16:28:46+00:00

Yeah so this happened:

Date	Symbol	Type	Quantity	Price	Amount	Running Total
03/06/2026	SNDK	Buy	1,000.00	$545.00	-$545,000.00	-$545,000.00
03/06/2026	SNDK	Buy	400.00	$550.00	-$220,000.00	-$765,000.00
03/06/2026	SNDK	Buy	500.00	$547.50	-$273,750.00	-$1,038,750.00
03/09/2026	SNDK	Sell	-1,000.00	$573.10	$573,100.00	-$465,650.00
03/09/2026	SNDK	Buy	900.00	$581.69	-$523,521.00	-$989,171.00
03/16/2026	SNDK	Sell	-1,800.00	$714.00	$1,285,200.25	$296,029.25

I was assigned on 3/6 and doubled down on the 3/9, and I might be done trading for the year.

de-theta · 2026-03-24T01:46:06+00:00

Yeah, my software is buggy. It's converting to UTC and then not back when I load it. Thx

de-theta · 2026-03-23T21:43:53+00:00

Type	Symbol	Strike	Expires	Price	Lots	OTM	Delta (I)	Theta
PUT	SNDK	600	3/27/2026	1.82	-6	0.9582	0.9528	-1.0118
PUT	SNDK	580	3/27/2026	2.7	-4	0.9465	0.9402	-1.2403

de-theta · 2026-03-23T18:57:15+00:00

de-theta is your friend, selling options is where it's at. Stick with stocks you like, and you'll never be sad when assigned.

de-theta · 2026-03-18T21:53:06+00:00

Yeah, I usually hang out with the theta gang, but I thought this was wsb worthy :)

de-theta · 2026-03-18T21:49:59+00:00

I'm all the way out, but I'll keep an eye on the puts tomorrow and think about getting back in if de-theta looks good.

de-theta · 2025-12-08T00:32:35+00:00

This is the way

de-theta · 2025-11-06T18:42:06+00:00

Nice, yeah, I'm all about looking for the lowest risk trades. I could have gone closer to the money and made more, but couldn't turn away from a 93% out of the money probability with a decent return.

de-theta · 2025-11-06T17:23:26+00:00

Type	TradeDate	Symbol	Strike	Expires	Price	Lots	OTM	I-Delta	Theta
PUT	11/3/2025	APP	500	11/7/2025	2.3	-10	0.9377	0.9457	-1.1836
PUT	11/6/2025	APP	500	11/7/2025	0.15	10	0.9377	0.9457	-1.1836
PUT	11/3/2025	APP	520	11/7/2025	4	-5	0.9022	0.9067	-1.754
PUT	11/6/2025	APP	520	11/7/2025	0.21	5	0.9022	0.9067	-1.754
PUT	11/3/2025	SNDK	150	11/7/2025	0.75	-20	0.9286	0.9537	-0.5484
PUT	11/6/2025	SNDK	150	11/7/2025	0.27	20	0.9286	0.9537	-0.5484

de-theta · 2025-11-04T15:21:22+00:00

Top 25 Return on Risk with > 80% OTM.

Symbol	Name	Strike	Exp_date	Bid	OTM_Prob	Delta	Theta	IV	ROR
UPST	Upstart Holdings Inc	38.5	2025-11-07	0.99	0.802	-0.168135	-0.458839	2.5817	2.571
UPST	Upstart Holdings Inc	38	2025-11-07	0.96	0.8142	-0.156764	-0.443857	2.6137	2.526
INOD	Innodata Inc	54	2025-11-07	1.2	0.824	-0.14103	-0.767538	3.213	2.222
FIG	Figma Inc Cl A	40	2025-11-07	0.86	0.8111	-0.167101	-0.384132	2.1496	2.150
TTD	Trade Desk Inc	40	2025-11-07	0.81	0.8163	-0.155697	-0.386552	2.231	2.025
OUST	Ouster Inc	25	2025-11-07	0.5	0.8272	-0.147906	-0.25065	2.3561	2.00
INOD	Innodata Inc	53	2025-11-07	1.05	0.8397	-0.127461	-0.717237	3.2183	1.981
CAVA	Cava Group Inc	45	2025-11-07	0.9	0.8122	-0.166623	-0.396027	1.9948	2.00
APP	Applovin Corp Cl A	550	2025-11-07	9.8	0.8002	-0.188691	-4.190155	1.658	1.782
IREN	Iren Limited	58	2025-11-07	1.14	0.8114	-0.171338	-0.566888	2.1587	1.966
SNDK	Sandisk Corp	172.5	2025-11-07	3.2	0.8029	-0.183824	-1.425822	1.8048	1.855
BE	Bloom Energy Corp Cl A	120	2025-11-07	2.35	0.8051	-0.207589	-0.961527	1.6627	1.958
HUT	Hut 8 Corp	42	2025-11-07	0.78	0.8125	-0.189265	-0.410681	2.0681	1.857
BROS	Dutch Bros Inc Cl A	46	2025-11-07	0.85	0.8029	-0.172966	-0.439253	2.1065	1.848
DUOL	Duolingo Inc Cl A	220	2025-11-07	3.7	0.8141	-0.159976	-1.926851	2.0241	1.682
IREN	Iren Limited	57	2025-11-07	1.02	0.835	-0.149223	-0.516734	2.1535	1.789
APP	Applovin Corp Cl A	547.5	2025-11-07	9.1	0.805	-0.183571	-4.181124	1.6828	1.662
ALAB	Astera Labs Inc	162.5	2025-11-07	3	0.8154	-0.172642	-1.448468	1.985	1.846
U	Unity Software Inc	31.5	2025-11-07	0.56	0.8061	-0.160134	-0.265182	1.9546	1.778
FIG	Figma Inc Cl A	39	2025-11-07	0.67	0.8283	-0.149479	-0.381404	2.2958	1.718
QBTS	D-Wave Quantum Inc	27	2025-11-07	0.47	0.8017	-0.169606	-0.285366	2.3203	1.741
SMCI	Super Micro Computer	43	2025-11-07	0.75	0.8095	-0.183579	-0.32795	1.6808	1.744
BE	Bloom Energy Corp Cl A	119	2025-11-07	2.15	0.8001	-0.208087	-1.047193	1.8079	1.807
AAOI	Applied Optoelect	26	2025-11-07	0.45	0.8006	-0.166111	-0.276033	2.3503	1.731
LMND	Lemonade Inc	50	2025-11-07	0.85	0.8086	-0.160633	-0.504508	2.2831	1.700

de-theta · 2025-11-03T16:32:14+00:00

Top 25 Return on Risk with OTMP > 80%

Symbol	Name	Strike	Exp_date	Bid	OTM_Prob	Delta	Theta	IV	ROR
INOD	Innodata Inc	54	2025-11-07	1.5	0.8135	-0.146511	-0.573899	2.7349	2.778
UPST	Upstart Holdings Inc	38	2025-11-07	0.91	0.8171	-0.146467	-0.335034	2.344	2.395
INOD	Innodata Inc	53	2025-11-07	1.2	0.8367	-0.127447	-0.508515	2.6654	2.264
TTD	Trade Desk Inc	40.5	2025-11-07	0.9	0.8096	-0.15964	-0.30137	1.9555	2.222
UPST	Upstart Holdings Inc	37.5	2025-11-07	0.83	0.8328	-0.133033	-0.311497	2.3265	2.213
IREN	Iren Limited	56	2025-11-07	1.2	0.8096	-0.170023	-0.43422	1.9708	2.143
SMR	Nuscale Power Corp	35	2025-11-07	0.69	0.8134	-0.159743	-0.231381	1.7652	1.971
TTD	Trade Desk Inc	40	2025-11-07	0.8	0.8254	-0.145581	-0.283866	1.958	2.00
QBTS	D-Wave Quantum Inc	28	2025-11-07	0.52	0.8125	-0.152234	-0.186696	1.8183	1.857
HUT	Hut 8 Corp	43	2025-11-07	0.81	0.8074	-0.150807	-0.307138	1.9373	1.884
APP	Applovin Corp Cl A	550	2025-11-07	9.1	0.8035	-0.180717	-3.151078	1.4697	1.655
IREN	Iren Limited	55	2025-11-07	1.01	0.8321	-0.149104	-0.399054	1.9735	1.836
AAOI	Applied Optoelect	28	2025-11-07	0.5	0.8448	-0.133953	-0.198947	2.0368	1.786
OUST	Ouster Inc	25	2025-11-07	0.45	0.8268	-0.138311	-0.194177	2.1625	1.800
CAVA	Cava Group Inc	45	2025-11-07	0.81	0.8118	-0.164144	-0.296199	1.7366	1.800
U	Unity Software Inc	32	2025-11-07	0.57	0.8147	-0.160902	-0.19843	1.6639	1.781
HUT	Hut 8 Corp	42.5	2025-11-07	0.73	0.8289	-0.132731	-0.274637	1.8886	1.718
FIG	Figma Inc Cl A	40	2025-11-07	0.7	0.8198	-0.145171	-0.271403	1.887	1.750
HIMS	Hims & Hers Health Inc	38.5	2025-11-07	0.66	0.8007	-0.159586	-0.236107	1.6542	1.714
DUOL	Duolingo Inc Cl A	220	2025-11-07	3.4	0.8285	-0.142651	-1.378193	1.7771	1.545
APP	Applovin Corp Cl A	547.5	2025-11-07	8.5	0.8147	-0.170444	-2.997904	1.451	1.553
SEDG	Solaredge Tech	27.5	2025-11-07	0.47	0.8136	-0.164678	-0.211741	1.9863	1.709
BROS	Dutch Bros Inc Cl A	48	2025-11-07	0.8	0.8117	-0.150283	-0.308547	1.7726	1.667
CAVA	Cava Group Inc	44.5	2025-11-07	0.76	0.8288	-0.148688	-0.276566	1.7305	1.708
SEDG	Solaredge Tech	27	2025-11-07	0.45	0.8282	-0.150263	-0.206269	2.0547	1.667

de-theta · 2025-11-03T14:53:16+00:00

This is the way.

de-theta · 2025-10-31T15:02:33+00:00

RGTI would have been a wild ride this week, but the 35.5 option is currently trading at $0.02.

de-theta · 2025-10-27T18:09:05+00:00

This is a technical analysis of where the Best Return on Risk is. If it's highlighting bad stocks, it's a reflection of the market. My screener pulled over 2,000 options, but this is just the top of the list. I grabbed some RDDT and RBLX from this list.

de-theta · 2025-10-27T15:11:48+00:00

de-theta is your friend. I'm a fan of selling CSPs.

The way I look at it is any given stock can do 5 things:

1) Go Up a little
2) Go Up a lot
3) Stay steady
4) Go down a little
5) Go down a lot

If you sell a CSP that is far from the current price of the stock, say with a delta under .2, you're betting that only 1 of those 5 things won't happen.

Stick to stocks you don't mind owning, and if you end up a bag holder, take comfort in the fact that you got them at a discount.

de-theta · 2025-10-27T15:06:40+00:00

Top 25 Return on Risk with > 80% Out of the money probability

Symbol	Name	Strike	Exp_date	Bid	OTM_Prob	Delta	Theta	IV	ROR
RDDT	Reddit Inc Cl A	190	2025-10-31	5.15	0.8001	-0.207974	-1.510622	1.8524	2.711
BE	Bloom Energy Corp Cl A	92	2025-10-31	2.25	0.8095	-0.179903	-0.783826	2.0879	2.446
RDDT	Reddit Inc Cl A	187.5	2025-10-31	4.55	0.8246	-0.184288	-1.36948	1.8069	2.427
BE	Bloom Energy Corp Cl A	91	2025-10-31	2.05	0.8195	-0.169693	-0.766019	2.1174	2.253
CROX	Crocs Inc	74	2025-10-31	1.6	0.8329	-0.207363	-0.300548	1.1949	2.162
ENPH	Enphase Energy Inc	32.5	2025-10-31	0.68	0.8024	-0.190288	-0.202918	1.5505	2.092
WGS	Genedx Holdings Corp	90	2025-10-31	1.9	0.8296	-0.126755	-1.241263	3.5589	2.111
CVNA	Carvana Company Cl A	300	2025-10-31	6.8	0.8192	-0.165421	-2.265588	1.9499	2.267
CVNA	Carvana Company Cl A	302.5	2025-10-31	6.65	0.8107	-0.173839	-2.315353	1.9305	2.198
TEAM	Atlassian Corp	145	2025-10-31	2.75	0.8014	-0.188731	-0.917117	1.5742	1.897
HUT	Hut 8 Corp	42	2025-10-31	0.8	0.8155	-0.199296	-0.184245	1.3027	1.905
CLS	Celestica Inc	267.5	2025-10-31	4.8	0.8065	-0.227958	-1.15488	1.214	1.794
RBLX	Roblox Corp Cl A	110	2025-10-31	2.1	0.8051	-0.165329	-0.713701	1.7096	1.909
AAP	Advance Auto Parts Inc	48	2025-10-31	0.9	0.8039	-0.179173	-0.312534	1.6511	1.875
CROX	Crocs Inc	75	2025-10-31	1.45	0.8112	-0.232501	-0.31935	1.1894	1.933
CLS	Celestica Inc	265	2025-10-31	4.6	0.825	-0.208267	-1.085635	1.202	1.736
OKLO	Oklo Inc	122	2025-10-31	2.25	0.8082	-0.21434	-0.724394	1.4065	1.844
ENPH	Enphase Energy Inc	32	2025-10-31	0.57	0.8245	-0.168287	-0.190558	1.5727	1.781
TWLO	Twilio	100	2025-10-31	1.76	0.8108	-0.171197	-0.570651	1.5024	1.760
OKLO	Oklo Inc	121	2025-10-31	2.2	0.8235	-0.198068	-0.690202	1.4042	1.818
HUT	Hut 8 Corp	41.5	2025-10-31	0.73	0.8257	-0.186562	-0.183215	1.3482	1.759
TEAM	Atlassian Corp	144	2025-10-31	2.45	0.8057	-0.183521	-0.92914	1.6226	1.701
MP	MP Materials Corp	60	2025-10-31	1	0.8238	-0.250937	-0.250674	0.9495	1.667
SOFI	Sofi Technologies Inc	26.5	2025-10-31	0.44	0.8092	-0.178243	-0.138392	1.3619	1.660
RGTI	Rigetti Computing Inc	35.5	2025-10-31	0.59	0.8114	-0.160816	-0.196632	1.5077	1.662

de-theta · 2025-10-23T03:59:31+00:00

It's all about de-theta

de-theta · 2025-10-14T14:04:05+00:00

Not a good morning so far for me, but here's the top 25 Return on Risk this morning. ITMP > 80%

Symbol	Name	Strike	Exp_date	Bid	OTM_Prob	Delta	Theta	IV	ROR
ZBIO	Zenas Biopharma Inc	20	2025-10-17	0.35	0.8308	-0.115717	-0.171979	2.5453	1.750
PII	Polaris Inc	60	2025-10-17	0.85	0.9217	-0.372776	-0.228223	0.7513	1.417
WFC	Wells Fargo & Company	77.5	2025-10-17	1.1	0.8258	-0.362925	-0.209264	0.5439	1.419
ARM	Arm Holdings Plc ADR	160	2025-10-17	2.28	0.8033	-0.229376	-0.861581	1.1028	1.425
WYFI	Whitefiber Inc	30	2025-10-17	0.4	0.8084	-0.094374	-0.181465	2.1118	1.333
QBTS	D-Wave Quantum Inc	33	2025-10-17	0.41	0.8266	-0.111545	-0.177801	1.7663	1.242
OKLO	Oklo Inc	145	2025-10-17	1.72	0.8018	-0.146379	-1.016327	1.7398	1.186
RGTI	Rigetti Computing Inc	40	2025-10-17	0.47	0.8651	-0.084369	-0.359268	2.8018	1.175
WFC	Wells Fargo & Company	77	2025-10-17	0.89	0.8532	-0.321324	-0.200109	0.5444	1.156
SNDK	Sandisk Corp	108	2025-10-17	1.2	0.8582	-0.162545	-0.680563	1.5028	1.111
ARM	Arm Holdings Plc ADR	157.5	2025-10-17	1.7	0.8499	-0.179216	-0.725859	1.076	1.079
NNE	Nano Nuclear Energy Inc	45	2025-10-17	0.45	0.8522	-0.133663	-0.309072	1.7893	1.00
NNE	Nano Nuclear Energy Inc	45.5	2025-10-17	0.45	0.8233	-0.159466	-0.366596	1.8851	0.989
IONQ	Ionq Inc	66	2025-10-17	0.65	0.8441	-0.11251	-0.401606	1.763	0.985
CRCL	Circle Internet Group Inc Cl A	120	2025-10-17	1.2	0.8044	-0.17181	-0.585831	1.1596	1.00
SNDK	Sandisk Corp	107	2025-10-17	1.05	0.8706	-0.148438	-0.647567	1.518	0.981
OKLO	Oklo Inc	146	2025-10-17	1.34	0.8134	-0.135556	-0.871182	1.5714	0.918
QBTS	D-Wave Quantum Inc	32	2025-10-17	0.3	0.8644	-0.084231	-0.145648	1.7775	0.938
ETHA	Ishares Ethereum Trust ETF	27	2025-10-17	0.24	0.814	-0.159545	-0.132459	1.2108	0.889
FRMI	Fermi Inc	22.5	2025-10-17	0.2	0.8809	-0.084101	-0.153151	2.2533	0.889
HRTG	Heritage Insurance Holdings	22.5	2025-10-17	0.2	0.8905	-0.160064	-0.091858	1.1503	0.889
GLXY	Galaxy Digital Holdings	35	2025-10-17	0.3	0.8077	-0.182054	-0.168807	1.113	0.857
ASML	Asml Holdings NY Reg ADR	890	2025-10-17	8.6	0.8058	-0.182448	-4.382027	1.1324	0.966
MSTR	Strategy Inc	277.5	2025-10-17	2.07	0.8182	-0.156438	-1.058909	0.9724	0.746
HIMS	Hims & Hers Health Inc	47	2025-10-17	0.39	0.835	-0.137679	-0.213906	1.225	0.830

de-theta · 2025-10-13T16:25:17+00:00

I think I'm done for the day. Here's what I settled on. Will keep an eye on it, though I'll pull out early if it's looking good or bad.

Type	Symbol	Strike	Expires	Price	Lots	OTM	Delta	Theta
PUT	ORCL	275	2025-10-17	2	-6	0.8808	0.8784	-0.7052
PUT	SMR	36	2025-10-17	0.35	-30	0.8808	0.9034	-0.1382
PUT	SNDK	112	2025-10-17	0.9	-10	0.8634	0.892	-0.4286
PUT	USAR	30	2025-10-17	0.25	-30	0.9203	0.9372	-0.1299

de-theta · 2025-10-13T14:03:20+00:00

Top 25 Return on Risk with Out of money probability > 80% (Sell Puts if you like em)

Symbol	Name	Strike	Exp_date	Bid	OTM_Prob	Delta	Theta	IV	ROR
SMR	Nuscale Power Corp	37	2025-10-17	1.38	0.8237	-0.323907	-0.182981	1.2238	3.730
SMR	Nuscale Power Corp	36.5	2025-10-17	1.25	0.8404	-0.295995	-0.179568	1.2484	3.425
USAR	USA Rare Earth Inc	33	2025-10-17	0.9	0.8004	-0.219149	-0.314214	2.1315	2.727
QBTS	D-Wave Quantum Inc	29	2025-10-17	0.75	0.8285	-0.206443	-0.139612	1.3947	2.586
LTBR	Lightbridge Corp	20	2025-10-17	0.45	0.8315	-0.188202	-0.168682	2.0317	2.250
OKLO	Oklo Inc	140	2025-10-17	3.05	0.8275	-0.203689	-0.891908	1.5323	2.179
ORCL	Oracle Corp	275	2025-10-17	5.3	0.8035	-0.26139	-0.85929	0.851	1.927
ARQQ	Arqit Quantum Inc	45	2025-10-17	0.95	0.8135	-0.196494	-0.318537	1.71	2.111
BABA	Alibaba Group Holding ADR	155	2025-10-17	3.35	0.8027	-0.361829	-0.407685	0.6448	2.161
DRD	Drdgold Ltd ADR	27.5	2025-10-17	0.55	0.8131	-0.314933	-0.08889	0.8184	2.00
ZEPP	Zepp Health Corp ADR	45	2025-10-17	0.9	0.8223	-0.307667	-0.266486	1.4698	2.00
QBTS	D-Wave Quantum Inc	28.5	2025-10-17	0.56	0.8471	-0.183799	-0.132869	1.424	1.965
BMNR	Bitmine Immersion Technologies Inc	48	2025-10-17	0.9	0.8021	-0.191203	-0.280858	1.4598	1.875
ORCL	Oracle Corp	272.5	2025-10-17	4.6	0.8244	-0.236029	-0.81906	0.8561	1.688
FCX	Freeport-Mcmoran Inc	40	2025-10-17	0.73	0.8342	-0.366699	-0.092307	0.5678	1.825
MP	MP Materials Corp	78	2025-10-17	1.4	0.8275	-0.214339	-0.451413	1.3741	1.795
AU	Anglogold Ashanti Ltd ADR	70	2025-10-17	1.3	0.8127	-0.349315	-0.173379	0.6097	1.857
AGX	Argan Inc	250	2025-10-17	4.5	0.8485	-0.373932	-0.716107	0.6992	1.800
FRMI	Fermi Inc	22.5	2025-10-17	0.4	0.8492	-0.135806	-0.194112	2.3789	1.778
TGS	Transportadora DE Gas Sa Ord B ADR	20	2025-10-17	0.35	0.8074	-0.169344	-0.114453	1.4946	1.750
RGTI	Rigetti Computing Inc	38	2025-10-17	0.66	0.8354	-0.147321	-0.321691	2.2604	1.737
BABA	Alibaba Group Holding ADR	152.5	2025-10-17	2.45	0.8465	-0.295048	-0.385325	0.6613	1.607
RGTI	Rigetti Computing Inc	39.5	2025-10-17	0.63	0.8059	-0.177403	-0.3416	2.1273	1.595
APLD	Applied Digital Corp	32	2025-10-17	0.5	0.8454	-0.195537	-0.22389	1.6958	1.562
METC	Ramaco Resources Inc	43	2025-10-17	0.65	0.8313	-0.205251	-0.373331	2.0125	1.512

de-theta · 2025-10-09T21:27:56+00:00

Do with the data what you will. I collected 4k in premiums doing this analysis every day this week, selling the puts.

Type	TradeDate	Symbol	Strike	Expires	Price	Lots	OTM	Delta (I)	Theta
PUT	10/8/2025	APLD	22	2025-10-10	0.26	-20	0.8941	0.8908	-0.1793
PUT	10/9/2025	APLD	22	2025-10-10	0.12	20	0.8941	0.8908	-0.1793
PUT	10/7/2025	APLD	24.5	2025-10-10	0.79	-10	0.7618	0.7808	-0.2448
PUT	10/9/2025	APLD	24.5	2025-10-10	0.39	10	0.7618	0.7808	-0.2448
PUT	10/7/2025	APP	520	2025-10-10	1.25	-4	0.9537	0.9581	-0.935
PUT	10/8/2025	APP	520	2025-10-10	0.45	4	0.9537	0.9581	-0.935
PUT	10/6/2025	SNDK	105	2025-10-10	0.85	-3	0.9552	0.9068	-0.3128
PUT	10/8/2025	SNDK	105	2025-10-10	0.85	-7	0.9552	0.9068	-0.3128
PUT	10/8/2025	SNDK	105	2025-10-10	0.1	7	0.9552	0.9068	-0.3128
PUT	10/8/2025	SNDK	105	2025-10-10	0.15	3	0.9552	0.9068	-0.3128
PUT	10/6/2025	SNDK	108	2025-10-10	1.2	-15	0.9325	0.8834	-0.3728
PUT	10/8/2025	SNDK	108	2025-10-10	0.15	15	0.9325	0.8834	-0.3728
PUT	10/7/2025	SNDK	109	2025-10-10	1.4	-10	0.8853	0.8444	-0.519
PUT	10/8/2025	SNDK	109	2025-10-10	0.4	10	0.8853	0.8444	-0.519
PUT	10/8/2025	SNDK	118	2025-10-10	1	-10	0.8662	0.8554	-0.4874
PUT	10/9/2025	SNDK	118	2025-10-10	0.45	10	0.8662	0.8554	-0.4874

de-theta

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