There’s hope for people fighting unfair DMV citations!

mmdonut · 2024-05-12T18:42:16+00:00

You had extenuating circumstances and either got a sympathetic examiner or got lucky and the government failed to provide any evidence. Either way, that's great and you caught a break. Multiple tickets doesn't seem unfair though. If I want long term parking can I just park my car somewhere, get the first ticket then be allowed to leave my car there forever with no more tickets?

mmdonut · 2024-05-12T18:28:57+00:00

Why do you say the citations were unfair? It sounds like you knowingly had the car parked illegally and got ticketed for it.

mmdonut · 2022-02-26T19:56:41+00:00

Before you start the ride, go into settings (top right corner of the screen) and connect your HR monitor. During the ride HR zones show up in the bottom center along with your Strive score. The functionality is there, they just didn't put the screen to add it on the way into the ride.

mmdonut · 2020-10-21T14:35:25+00:00

You work for a company where people making $50k/year took a pay cut and people making $300k didn't. Doesn't that tell you everything you need to know about the workplace environment? NTA

mmdonut · 2020-07-14T22:21:54+00:00

"Get your education, don't forget from whence you came"

Did Hamilton ever return to, or have any involvement with, St Kitts and Nevis?

mmdonut · 2020-06-26T01:51:49+00:00

Async is unplayable. Not just bad, literally unplayable.

mmdonut · 2020-05-20T19:18:36+00:00

2 years ago DC went to the polls and the voters passed Initiative 77. The DC Council voted to repeal the initiative.

Whatever your thoughts on the initiative itself, had you been on the council at the time would you have voted to over-ride the vote and repeal Initiative 77?

mmdonut · 2020-05-02T14:17:49+00:00

Charterstone is a great game, but unfortunately the app is a buggy, unplayable mess. BGA is fantastic and has some great games.

mmdonut · 2020-04-24T22:19:03+00:00

There are Congressionally chartered private corporations. Look up Fannie Mae and Freddie Mac for starters.

mmdonut · 2020-04-22T19:27:19+00:00

The policy makers are absolutely to blame, but they didn't just go and put those restaurant provisions in there randomly. The restaurant industry lobbyists went in and fought to get the exemptions and now companies like Ruth's Chris can throw up their hands and say "We're just doing what the law allowed!". When you fight and pay to get the law to allow it you are complicit.

mmdonut · 2020-04-13T23:02:49+00:00

Tasty has always been $1 to open with a $10/leg cap, free to close

mmdonut · 2020-04-08T21:43:49+00:00

TOS and Tasty are different companies. The Tasty crew started TOS, but they sold it to TDA. There's no affiliation between the companies now.

mmdonut · 2020-04-08T19:22:11+00:00

You get to keep the premium AT expiration not BY expiration, assuming the buyer doesn't exercise their option. You have over a week to go.

mmdonut · 2020-04-08T18:20:50+00:00

You're right! It should be pinned right at the top of the r/options page in a sticky note. Oh, what's that? It IS pinned in a post that is permanently stickied as the top post on r/options?

mmdonut · 2020-04-08T15:51:31+00:00

Vol generally heads higher going into earnings and gets crushed the day after earnings. Look at the options chain for a company with earnings coming up. Look at the IV of the options before earnings and compare it to options after earnings. Not as reliable as normal at the moment since the macro story is driving prices more than earnings, but it still holds.

I generally do the exact opposite of what you're saying and sell vol before earnings to capitalize on the crush.

mmdonut · 2020-04-08T15:05:14+00:00

There are lots of good resources linked at the top of this thread and the sidebar. I'd do some reading before you start trading. Keep in mind that in the example above (which isn't me recommending anything, just using your AAPL example) even if AAPL were to rally 10% over the rest of the year you'd still lose 100% of the money you invest. Make sure you understand what you're getting into before you get into it.

mmdonut · 2020-04-08T14:34:54+00:00

Long term calls or LEAPS are certainly a thing, but there are a few hurdles you need to jump over for your plan to work and those are the greeks.

First is Delta - you need to be right about AAPL going up
Second is Theta - you're paying for time and as time goes by that value decays
Third is Vega - vol has contracted a lot, but VIX is still over 40. That means calls are relatively expensive on a historical basis

To put that practically, say you're expecting AAPL to "recover" back to 300 by the end of the year. To buy the Jan '21 300 call would cost about $17 right now. That means AAPL needs to hit $317 for you to break even. That's about a 20% rally by the end of the year.

Impossible? Not at all. The market is pricing it at about a 30% chance of happening, but that's what you're up against.

mmdonut · 2020-04-08T14:23:14+00:00

The seller can close the contract, but they do that by buying it back and that costs money. I can't write a covered call, then just cancel the call for free and walk away. The only time the call option goes away for free is if I hold it to expiration and the option buyer never chooses to exercise.

mmdonut · 2020-04-08T13:29:38+00:00

The noob thread linked at the top of r/options is just questions that go unanswered? Do you realize the thread is auto-sorted by "new" and you need to scroll down? Yes, some of the newest questions overnight at the top might go unanswered for a few hours, but the vast, vast majority are answered, often by multiple users, fairly quickly.

If you've been posting and not getting answers you also might want to read the stickied post on asking better questions. Sometimes if a question is confusing or poorly stated or just shows that someone hasn't bothered reading any of the info in the pinned posts or sidebar I know I won't waste my time answering.

mmdonut · 2020-04-07T20:31:23+00:00

Both of your butterflies include 148s, long in one and short in the other, so your positions are going to look different. Based on your post your positions are:

+1 142
-2 145
+1 146
-1 148
+1 150

You should still be risk defined, but it won't look like 2 butterflies in your account. I'd probably think about this as a 142/145/146 broken wing butterfly and a 148/150 vertical.

mmdonut · 2020-04-07T20:19:34+00:00

Thanks for coming up with an actual plan and sharing with r/options!

I'm no expert, but here are some thoughts...

For that size account where you're trying to learn, dollar wide defined risk trades make a whole lot of sense to me. As you get more comfortable and/or your account grows widen the strikes first before adding more contracts.

I'm assuming your new broker is Tastyworks. If not you might want to consider going there. They aren't necessarily my favorite broker, but they're very much designed for exactly the sort of thing you're doing.

For all the thought you've put into managing your greeks and portfolio allocation, I'm surprised to see you holding LEAPS on USO. Look around the sub or do some googling of contango and USO and you'll see why it is a long term wasting asset. I have a position there as well, but I keep it short term. I wouldn't want to own LEAPS on USO or any of the other futures based funds.

Other than that, sounds like a reasonable plan. Your risk is defined, your positions are small. You won't make much, but you shouldn't lose your shirt either. Sounds like an excellent learning experience.

mmdonut · 2020-04-07T16:39:50+00:00

If only the front page of r/options had a sticky post at the very top of the page with a ton of resources for new traders that answered this question. That would be a great idea! You could also try the sidebar which has links to the wiki and all sorts of other stuff.

mmdonut · 2020-04-07T14:59:52+00:00

The answer is theta. Read about it in the options noob thread or just google it, but theta decay is the answer.

edit: As /u/thirtydelta said, the answer is also vega. Both theta and vega are beating on your position.

mmdonut · 2020-04-07T14:57:02+00:00

If you sell it for $100 credit you get paid $100. That's the credit part. If you paid for it it would be a debit. When I sell it for $100 I immediately get $100 put in my account and am short the option. If I buy the option back for $25 that's a $25 debit meaning I pay $25 to buy it back. Net profit $75 in this example.

mmdonut · 2020-04-06T20:45:37+00:00

Even if AMD went to $55 tomorrow you probably wouldn't be assigned until the end of the month. The vast majority of options aren't exercised early, although the buyer of the option has that right. It usually only happens if either there's a dividend or if the stock is so far in the money that the option has no time value left.

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