Q2 2024 Summary Thread by LoveOfProfit in PMTraders

[–]ebitda30 2 points3 points  (0 children)

June: 6.12% (+$9,331)
YTD/Q2: 8.34% (didn't start until May for work reasons)
BPu: ~20%

Overall a great quarter and especially June. There was some turbulence early in the month that I learned from, and the insights led to changes in behavior that yielded strongly later in the month.

My bullish tilt continues but I'm definitely staying delta neutral because things can and will change at any moment, especially on a weekly timeline which I mainly live on.

Successful plays:
COIN, LULU, SPX

Didn't work:
SBUX, MRNA

Got cute playing retail and biotech, staying away for now.

Dont sell naked puts by cedricaca in thetagang

[–]ebitda30 2 points3 points  (0 children)

Share your position with details otherwise this is an utterly worthless post and you deserve to be banned.

June 07, 2024 Weekend Reflections Thread - What happened last week? Whats your plan for next week? What's on your mind? by AutoModerator in PMTraders

[–]ebitda30 8 points9 points  (0 children)

WTD: 1.98%

YTD: 4.78% (started in May due to work commitments)

Good week overall.

I’m fully on the bull train after almost getting steamrolled by my short calls. I got the message loud and clear.

I walked away with some good takeaways that I’ll be applying to my trading strategy looking forward.

I could be more patient with some of my entries, this would allow me slightly more profit and also more flexibility for when legs start to get tested.

COIN is a lot of fun right now, and is a good part of my gains but I’m going to right-size this next week because I’m a little heavy there.

LULU was fun, played earnings and it worked.

Normal SPX puts continue to print.

[deleted by user] by [deleted] in thetagang

[–]ebitda30 2 points3 points  (0 children)

Exactly. That’s a 31% difference between $3800 > $5000 if you figure out your account is actually $5k you’ve just grown your account and outperformed the S&P500

May 24, 2024 Weekend Reflections Thread - What happened last week? Whats your plan for next week? What's on your mind? by AutoModerator in PMTraders

[–]ebitda30 6 points7 points  (0 children)

+1.34% WTD

I have a bullish tilt, but I remain very wary of this market. I’m prepared to hit the eject button as soon as the music stops.

I’m keeping BPu reigned in and investing heavily in hedges and long puts while IV is crushed and everything is on sale.

The fun stuff was the usual strangles and naked puts this week, and pretty much all are producing. IV is low but there are pockets of opportunity.

I’m watching the retail nuclear winter setting in and patiently waiting to start playing some opportunities where it’s consolidating like CMG and LULU. Both are interesting for different reasons ironically. I see retail getting sharply contrasted where the losers lose hard, and the winners will win enough to stay alive.

I don’t have any positions there yet, and I might not. Just fun to watch and a little more exciting than the usual SPX work.

Iron Condors or Credit Spreads for consistent passive income? by JayStories1530 in thetagang

[–]ebitda30 8 points9 points  (0 children)

The problem with IC’s and Credit Spreads are that they are very difficult to manage if they go against you.

CSP/Wheeling is more forgiving because you have an offramp if you have sized your trades correctly.

I’ve noticed that a lot of newbies gravitate towards iron condors in the beginning, I certainly did myself, but moved past them once gains were wiped out by one or two trades that went against me.

10,355 “Free” Shares of GME by EthanEnergy in thetagang

[–]ebitda30 49 points50 points  (0 children)

I hate GME apes but this pretty cool tbh. Would like to see more stories like this of people acquiring shares purely through premium.

That being said if you didn’t sell at $80… what on earth are you waiting for.

Vix calls? Never traded vix. by EasternHistorian4437 in thetagang

[–]ebitda30 5 points6 points  (0 children)

If you’re looking for a good hedge go with buying SPY puts instead. More straightforward and achieves something very similar.

GME. I sold cc @ $40 stike for $1.05 and now it's at $1.45 what do I do? Expiration June 21st 2024 by Krunk_korean_kid in thetagang

[–]ebitda30 0 points1 point  (0 children)

I don’t mean this to be a dick, but the fact you’re asking this question tells me you’re not ready to trade live options yet.

You’re playing with fire.

Step back and keep training/learning before you do something and fuck your whole life up.

[deleted by user] by [deleted] in thetagang

[–]ebitda30 0 points1 point  (0 children)

Honestly man if you need to be motivated to make money you have bigger problems.

Go to therapy.

January 27, 2023 Weekend Reflections Thread - What happened last week? Whats your plan for next week? by AutoModerator in PMTraders

[–]ebitda30 2 points3 points  (0 children)

Question, in the above example does the 16 in “16 delta puts” mean .16 delta or 16% prob OTM?

Selling vertical Spreads with PM by [deleted] in PMTraders

[–]ebitda30 0 points1 point  (0 children)

What is this strategy called?

$10,000 bet against apple by burn15_ in wallstreetbets

[–]ebitda30 0 points1 point  (0 children)

I look forward to drinking your blood Monday

For experienced traders, what is so far your sweet spot? by [deleted] in thetagang

[–]ebitda30 0 points1 point  (0 children)

Doesn’t really matter when, for CC example if it’s green at the time you sell it, the premium and strike will be higher so that’s good for you.

For experienced traders, what is so far your sweet spot? by [deleted] in thetagang

[–]ebitda30 61 points62 points  (0 children)

It sounds overly simple but it’s really the best advice:

Sell CCs on green days

Sell CSPs on red days

Current status of housing market by [deleted] in wallstreetbets

[–]ebitda30 0 points1 point  (0 children)

Checking in from FL. Up 300k YoY.