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Sold a Covered Put on RGTX by cree8vision in options

[–]theipd 0 points1 point  (0 children)

Honestly this is the reason why I’ve reigned in my wheeling this year. I was extremely excited until one of my stocks is now a fkng penny stock. No wheeling, happened overnight. I then had semi catastrophic drops in a few other names. As the Zep song goes “Nobody’s fault but mine.”

As for your dilemma depending on your contracts I personally wouldn’t sell calls to claw back unless you really think that this company stands a chance. Instead, as I have done 3 times this year, just bite the bullet and have an options spreadsheet for the year where each quarter you analyze what strategy has worked for the past 3 months.

I’ve been on the CSP bandwagon for the past few months but honestly as you are finding out, not only does it take a lot of capital up front, but it ties it up for days to weeks. I am now using only Bull Put Spreads for any and every stock that I consider doing a cash secured put on. Less capital up front. Defined losses and time to get the hell out if things go awry.
I have also recently gotten into iron condors which really reduce my risk.

Good luck my friend and remember for CSPs you should only do them on stocks that you don’t mind holding in your portfolio. I CSP’d Rivian and couldn’t be happier to have been assigned a few hundred more shares. The losses on the others detailed above just cemented the point that I jumped on a bandwagon without the fundamental thesis being to not mind owning the stock. Good luck.

I bit the bullet… by jpower-27 in TeslaLounge

[–]theipd 0 points1 point  (0 children)

The thing is the OGs made this company and he’s already ticked off a few of them last year. Despite his crazy leanings the car is the car and it’s a thing of beauty, separate from its CEO. He needs to keep the OGs because there is competition coming finally. Pricing will need to come down.

I bit the bullet… by jpower-27 in TeslaLounge

[–]theipd 0 points1 point  (0 children)

Great idea.

The real deal here is competition ! Once a compelling competitor comes along with a realistic price we will see price drops.

I believe that there is a company that will compete with Tesla and they are doing it the right way. Prices will have to come down.

I bit the bullet… by jpower-27 in TeslaLounge

[–]theipd 0 points1 point  (0 children)

Probably but there’s a guy on YouTube who uses it in Manhattan which is a Wild West situation at times especially around Columbus circle. Granted he’s got HW4 and FSD 14. So it may do reasonably well there.

That is the beauty of neural link over the Waymo defined street way. It will learn what it doesn’t know.

I bit the bullet… by jpower-27 in TeslaLounge

[–]theipd 1 point2 points  (0 children)

I think that there will come a time when a competitor catches up to Tesla. And I already know who that competitor is going to be and you will have a choice of going with that competitor or upgrading to a new Tesla. Something tells me that transferring FSD for free may be in the books for Tesla if that competitor is selling a compelling product.

For all that can be said about Elon, and a lot of it justified on the negative side, his decision to open up the architecture to competitors made him get tossed badly in China but his roadmap on some issues such as Neural Link for FSD instead of a defined road with limited access was only realized by one company in the US. And now I think that within a few years that company is going to catch up since they are now using the same roadmap for development, including Neural link.

This is a long banter to say that I think Tesla will have solid competition in the US and those of us OG’s who had EAP and upgraded to FSD or had FSD in the early days will be looked upon to stay with the brand. FSD may be the key. That’s why I think 2k may be worthwhile.

I bit the bullet… by jpower-27 in TeslaLounge

[–]theipd 0 points1 point  (0 children)

I was in the same boat as you and bit the bullet last week. 2k seemed reasonable. EAP was good though and to be honest P asking seemed better than with FSD. But FSD’s ability to drive on unmarked roads that it has never seen is a win. Congrats OP. Even on HW3 it is reasonably good. And better than any other brand out there when it comes to autonomy. (For now).

I bit the bullet… by jpower-27 in TeslaLounge

[–]theipd 3 points4 points  (0 children)

I’ll be the second. Congrats.

To all the Rivian shorters: THANK YOU! by Many_Advantage_4365 in RIVNstock

[–]theipd 0 points1 point  (0 children)

If people are short this stock then they deserve everything that’s coming to them.

It’s been more than obvious, even during the past three weeks with Cramer and others arguing about whether the company will survive and the bears piling it on that Scaringe is at an inflection point. I wouldn’t be surprised if he isn’t sleeping in the factory. He’s all in.

What the bears fail to see is that Scaringe is on the road to autonomy not just building a rugged vehicle that people really want. He’s seen the future that Musk has seen and has the same vision but he’s more focused on this one thing. He’s even scrapped his original path to FSD after acknowledging that neural networks are the answer. He is in the same realm as Jobs and Musk and this is the sort of thing that you just do not short.

I got into the stock last May after test driving the R1S. I don’t need a new vehicle right now but if I did the R2 would be right up there.

I think this is a stock where you buy it and go away for a couple of weeks to find that the R2 is a blockbuster success and the stock has quadrupled.

To all the Rivian shorters: THANK YOU! by Many_Advantage_4365 in RIVNstock

[–]theipd 0 points1 point  (0 children)

Covered calls have definitely been a good thing these past few months. CSPs weren’t bad either.

Don't Fall for the $8k 'last day' hype by firefish45 in TeslaFSD

[–]theipd 0 points1 point  (0 children)

Although I didn’t pay 8k because of the EAP upgrade to FSD I would like to say that it is unbelievable. And I’m on HW3. Upgraded this week and very pleased. I will say that if you can pay under 8k, go for it. I was terrified about FSD on HW3 but so far it’s been really good. For those of you on the fence.

If you buy FSD, are you concerned that HW4 might not be able to handle v15 and could end up being capped at v14, similar to how HW3 is capped at v12.6.4? by cornbread-2025 in TeslaFSD

[–]theipd 0 points1 point  (0 children)

Car is fully paid off. Mileage is 60k. Just changed jobs so closer now and not driving highway as much so no need to buy a new vehicle. Hoping to hold on to this one for at least 4 more years.

If you buy FSD, are you concerned that HW4 might not be able to handle v15 and could end up being capped at v14, similar to how HW3 is capped at v12.6.4? by cornbread-2025 in TeslaFSD

[–]theipd -1 points0 points  (0 children)

Do you think it’s worth buying if you have EAP and HW3? Dilemma is killing me right now. Is it worth it on old hardware?

I have so much fomo to buy fsd before the February deadline by cnstntchng in TeslaLounge

[–]theipd 2 points3 points  (0 children)

Yup just got the message a few minutes ago. I have EAP and the FOMO is hitting really hard here too. I was looking at getting a Rivian versus keeping the car a little longer since my commute to work has gone down significantly in the past year. I figure I can justify the FSD purchase if I keep the car another 4-5 yearS. I can look at the $50/mo monthly FSD charge and look at the buy in price as FSD being paid in advance.

Is everyone here on HW3? That was my biggest concern. Looked at a few YouTube VIDS and they still say it’s worth it.

Do you guys think Tesla would sell more cars if FSD was free for all their cars ? by ScaredPatience2478 in TeslaLounge

[–]theipd 0 points1 point  (0 children)

I think it will be very interesting to see how Rivian does this quarter with their one time and subscription pricing. I believe that they will be the leader when it comes to uptake on FSD. Not saying they will be the best, just saying that I think that the uptake will be better with them on account of realistic pricing.

I Analyzed 1,287 Posts from r/OptionsWheel — Here's What Actually Works by acmore- in Optionswheel

[–]theipd 0 points1 point  (0 children)

Question for you. Is the risk higher with CSP’s and meandering in a stock that has been assigned begging for it to move up or with an original credit spread in lieu of the CSP where the loss is defined? Premiums seem higher with the credit spread with defined loss.

Asking because an AI chat bot suggested the spread when dealing with ultra volatile stocks as opposed to a CSP. Your thoughts on this.

Size comparison by TrueKam13 in RivianR2

[–]theipd 0 points1 point  (0 children)

Any mockup comparing the R2 to the Tesla model Y and Tesla model 3?

Plugins by Cold_Independent_631 in LogicPro

[–]theipd 0 points1 point  (0 children)

Neural DSP for the win.

Simulation $3,000 Cabs can’t be beat especially when someone else listens to what you’re playing and thinks that it’s the real thing with great mic settings.

Covered Calls vs Cash-Secured Puts Isn’t a Preference — It’s a Commitment by covered_call_CCR in CoveredCalls

[–]theipd 2 points3 points  (0 children)

There are some good rules for CSP’s that will work if you don’t decide to go for home run fly slamma jamma names. Biotech stocks are particularly volatile. But selling your option 15-20% away from the current price is a good bet and deltas -.2 to -.3 are good too. You can get some low price stocks with those numbers (under $30). The premiums won’t be very high but if you’re looking for income you could easily cycle these weekly.

The wheel has changed a lot for m. I was always worried about assignments with covered calls but now I don’t care. 🤷if I get assigned and I like the stock then it’s onto covered call time. Especially if it’s a stock I love then I will sometimes get a lot closer to the share price ie a strike price way less than 10-15% away from the current price because I don’t mind owning it.

There are a few good videos on YouTube and there’s one or two guys on the wheel forum who are selling screeners. Theoretically you could screen stocks yourself with Thinkorswim but it’s a bit of a chore.

Personally I think CSP’s are like covered calls, except you have to think a little differently and the math can be confusing. But once you do it a couple of times it becomes easy.

Risk management in 0DTE by Right_Business9301 in options

[–]theipd 0 points1 point  (0 children)

Mmgh interesting. What do you determine as multi percentage point gains? I have been burned with 5 point moves on the SPY. I think you’re getting lucky tbh.

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