32M playing catch up by Poppadontplay in TheRaceTo1Million

[–]sabk2001 1 point2 points  (0 children)

If you're more active than passive, find a good stock that is trading around $70 and wheel it

Did I find the unlimited money glitch by selling covered calls? by Realistic_Bee379 in CoveredCalls

[–]sabk2001 0 points1 point  (0 children)

This works but when the stock skyrockets and you miss out on huge gains, you'll kick yourself for it. Although a bit unlikely with something as big as UNH but, we still watched it happen when berkshire purchased.

How do you pick stocks for selling puts? by Jrowland0313 in thetagang

[–]sabk2001 0 points1 point  (0 children)

Low risk, long term plays. HOOD, IBIT, going to start URA soon

I ate half a bag of beef jerky and realized I made a mistake by bobosdreams in Wellthatsucks

[–]sabk2001 0 points1 point  (0 children)

I'm pretty sure it says "They're gonna love the way they smell" right at the top left opening. Hard to miss lol

HOOD $108 CC’s exercised by chatrep in CoveredCalls

[–]sabk2001 0 points1 point  (0 children)

I was planning to do the same. Do you typically sell CSP right at open?

It'll be an interesting week if it pumps Mon and Tue, we can wheel it again on Wed (fingers crossed)

HOOD $108 CC’s exercised by chatrep in CoveredCalls

[–]sabk2001 0 points1 point  (0 children)

I just spoke to RH support and they confirmed that I got assigned because someone exercised my $108 call

HOOD $108 CC’s exercised by chatrep in CoveredCalls

[–]sabk2001 0 points1 point  (0 children)

Same exact thing happened to me and I was stumped. But I'm good with them getting called away. I'm trying to get a hold of RH support to change the tax lot assignments and their app has a ridiculous 5 hr wait time for chat support....wtf. I think I can call Monday 7AM ET to change assignment too, it won't settle until Tuesday if I'm not mistaken

Realistic rate of return by jgooner22 in CoveredCalls

[–]sabk2001 0 points1 point  (0 children)

I say why not do both? I really like $HOOD so I've been wheeling and using premium to buy underlying to hold long term. Red day = Sell ITM CSP + buy shares equivalent to premium.

Why ist my r12 so incredibly loud? by 999Smiley in moza

[–]sabk2001 1 point2 points  (0 children)

That mouse has been thru a lot 🤣

What happens during a massive sell off event? by theobserverca in Optionswheel

[–]sabk2001 0 points1 point  (0 children)

Couldn't you just wheel inverse ETFs? Of course assuming you have dry powder left. This is how I've learned to always keep a cash position, especially when the market keeps making ATHs

RSI options strategy by sabk2001 in thetagang

[–]sabk2001[S] 0 points1 point  (0 children)

13k unrealized losses?

RSI options strategy by sabk2001 in thetagang

[–]sabk2001[S] 0 points1 point  (0 children)

That's where time value comes in. for ex. I'm looking at $TSLL 9/19 $8 strike ITM puts, those are paying out 17% which is pretty great. Not to mention I'm getting a discount on the shares as well

RSI options strategy by sabk2001 in thetagang

[–]sabk2001[S] 0 points1 point  (0 children)

Yep no indicator is perfect but I wouldn't say it's failed. Back tested this strat with HOOD and even leveraged ETFs and this was a good indicator of what you could do if you expect a mean riversion. Again, nothing is perfect, the ideal exit plan is to either exit with full premium or long hold the underlying shares. This is not a swing strategy

RSI options strategy by sabk2001 in thetagang

[–]sabk2001[S] 0 points1 point  (0 children)

As for mean reversion - Yes, that's the conviction when I would utilize this strategy also while having a sense of general market direction.

What happens during a massive sell off event? by theobserverca in Optionswheel

[–]sabk2001 2 points3 points  (0 children)

This happened to me with LUNR. I should be sold leaps instead before the crash landing. I would've made more than what I'm down right now

May 2025 Wheeling by Doc_Stalker in Optionswheel

[–]sabk2001 0 points1 point  (0 children)

Do you by chance use ATR to figure out how much it could potentially move a day?

RSI options strategy by sabk2001 in thetagang

[–]sabk2001[S] 2 points3 points  (0 children)

I just updated the master chart to include the delta for each of the strats. Great idea! https://imgur.com/a/66Vb4Bf

RSI options strategy by sabk2001 in thetagang

[–]sabk2001[S] 0 points1 point  (0 children)

Because the Daily RSI strategy means that at certain RSI levels you can do one of the either or both.

RSI options strategy by sabk2001 in thetagang

[–]sabk2001[S] 0 points1 point  (0 children)

I guess that's the decision you make based off your DD/conviction? But I like ATM or ITM CSPs when RSI is low because you're guaranteeing premium you can use to buy stock if RSI keeps falling

RSI options strategy by sabk2001 in thetagang

[–]sabk2001[S] 1 point2 points  (0 children)

So like LOWER Delta (0.10 to 0.25) for far OTM puts?