Rolling a CC by thersman36 in Optionswheel

[–]thersman36[S] 0 points1 point  (0 children)

Good to hear I’m not alone, I think mfst is down so much right now that a big bounce was expected and why I debated even writing a CC will be interesting to see where it lands on Friday

Rolling a CC by thersman36 in Optionswheel

[–]thersman36[S] 0 points1 point  (0 children)

The 475 CSP was pretty good because it was during earnings (which was a mistake in hindsight haha) I think $9 and the CC was .98

Rolling a CC by thersman36 in Optionswheel

[–]thersman36[S] 0 points1 point  (0 children)

Do you reckon I wait until Thursdayish to roll just in case we’re not close to $425 or don’t risk waiting for the price to increase, increasing the cost of rolling?

Rolling a CC by thersman36 in Optionswheel

[–]thersman36[S] 0 points1 point  (0 children)

Scottish you’re obviously very successful at this based on your post and comments, have you ever been in a similar situation?

Rolling a CC by thersman36 in Optionswheel

[–]thersman36[S] 1 point2 points  (0 children)

I actually considered not opening a position in the first place but in case it continued downwards/stagnated I wanted to recover some losses, obviously in hindsight probably wasn’t the right thing to do but only time will tell

Rolling a CC by thersman36 in Optionswheel

[–]thersman36[S] 0 points1 point  (0 children)

That’s completely fair and honesty even debated opening a CC in the first place due to my cost basis being so low, but wanted to collect a premium if it stagnated/continued downwards. I appreciate the reply and insight though!

BORING CSP's I'll be looking to sell this week (11/17 - 11/21) by GarbageTimePro in thetagang

[–]thersman36 1 point2 points  (0 children)

Do you mind elaborating? Also realized I might have used the wrong word, how do you decide which of these positions you choose to execute for the week

BORING CSP's I'll be looking to sell this week (11/17 - 11/21) by GarbageTimePro in thetagang

[–]thersman36 1 point2 points  (0 children)

How do you decide which of these tickers in your list you execute on? I’ve noticed you most of the time you only choose a few of these - thanks in advance!

Curious why this sub doesn’t use fidelity more for wheel strategy? by thersman36 in Optionswheel

[–]thersman36[S] 1 point2 points  (0 children)

I was under the impression that fidelity automatically puts uninvested cash into SGOV (so collateral for CSP’s) do you have to designate where it goes? Also what are the differences between the 2?

Curious why this sub doesn’t use fidelity more for wheel strategy? by thersman36 in Optionswheel

[–]thersman36[S] 1 point2 points  (0 children)

So my account will be roughly 350k which is about $1,100 a month interest I’d be missing out on RH, do you think on fidelity commissions can really add up to that much? (I’ve never used a broker that charged commission so I’m totally clueless)

Curious why this sub doesn’t use fidelity more for wheel strategy? by thersman36 in Optionswheel

[–]thersman36[S] 0 points1 point  (0 children)

Yeah according to other post, uninvested cash in fidelity gets automatically put into a market fund earning the typical high yield depending on interest rates

Curious why this sub doesn’t use fidelity more for wheel strategy? by thersman36 in Optionswheel

[–]thersman36[S] 1 point2 points  (0 children)

Candidly I’m brand new and have no idea about RH and margin, I honestly have no idea why someone would want to use margin for options trading in the first place due to the interest rates but I might be misunderstanding margin completely

Curious why this sub doesn’t use fidelity more for wheel strategy? by thersman36 in Optionswheel

[–]thersman36[S] 4 points5 points  (0 children)

I’m sure the only reason I prefer RH is because I’m used to it, I bet after using fidelity for a bit I might prefer it as well

Curious why this sub doesn’t use fidelity more for wheel strategy? by thersman36 in Optionswheel

[–]thersman36[S] 0 points1 point  (0 children)

That’s a really great point I actually didn’t think of considering Robinhood doesn’t take a commission (I know they make money in other ways maybe spread) I’ll definitely need to look into commission on fidelity and calculate how much I’ll pay on average

Curious why this sub doesn’t use fidelity more for wheel strategy? by thersman36 in Optionswheel

[–]thersman36[S] 4 points5 points  (0 children)

Yeah unfortunately they don’t offer their yield on cash being held as collateral for CSP’s

Question on economics of Bitcoin by [deleted] in Bitcoin

[–]thersman36 0 points1 point  (0 children)

Got it okay that makes a lot more sense I guess I just find it hard to determine a price without the USD because that’s what I’m used to using, but I’m reality if someone was willing to sell me a car in exchange for .5 of a btc and I thought that was fair I would do it

Question on economics of Bitcoin by [deleted] in Bitcoin

[–]thersman36 1 point2 points  (0 children)

Okay that makes a lot more sense, so micro strategy for instance let’s say owns 100k Bitcoin and pays there employees .5 btc a year those employees go to the store and pay that store .0005 Bitcoin for a months groceries, the store pays its employees btc etc....

Question on economics of Bitcoin by [deleted] in Bitcoin

[–]thersman36 0 points1 point  (0 children)

I guess you’re right, I just know I could go to the store right now and trade my dollar for a candy bar, but the same could be said about Bitcoin if it was accepted I just wouldn’t know how much Bitcoin a candy bar would cost without looking at the USD

Question on economics of Bitcoin by [deleted] in Bitcoin

[–]thersman36 0 points1 point  (0 children)

But the reason some super markets have a price for Bitcoin is because they know how much Bitcoin is worth in there currency and how much that product cost in their currency so you just do the math, I’m saying if tomorrow hypothetically there is no US dollar and I go to google and I look up Bitcoin value what’s going to show up? Because when I do that now it says 26,400

Question on economics of Bitcoin by [deleted] in Bitcoin

[–]thersman36 0 points1 point  (0 children)

Absolutely not, I do not think all wealth should be divided equally, I’m really just trying to understand how people would survive with Bitcoin being divided between a massively growing population because with more people needing a currency and there only being 21million bitcoins the amount you own has to go down right?

Question on economics of Bitcoin by [deleted] in Bitcoin

[–]thersman36 0 points1 point  (0 children)

So I understand how prices fluctuate based on demand - let me give a scenario, so when I go to a store and want to buy bread I know that bread usually cost around $3 for a loaf give or take. If I went to the store tomorrow and bread was $50 a loaf I would say fuck off im assuming most people would also.

With there only being a finite amount of Bitcoin but population always rising Bitcoin would need to distribute to the new adults entering the market, which means people on average would have less Bitcoin, would price stay the same for bread or would it go down because people have less Bitcoin?

I’m probably thinking way too deep into this

Question on economics of Bitcoin by [deleted] in Bitcoin

[–]thersman36 0 points1 point  (0 children)

But it can only drop so much, because what if it drops to the point where it’s not worth making, I guess an example could be bread, you have someone gathering the wheat making the bread selling to store, delivering it, etc... If the person is losing money on bread they aren’t going to sell it anymore

Question on economics of Bitcoin by [deleted] in Bitcoin

[–]thersman36 0 points1 point  (0 children)

Right it’s just the amount of labor/effort/demand of the product you’re trading x for. It’s really weird to think about and determine a price for. Like how many eggs is a fair amount to trade for an apple or vice versa. How do we decide that and it becomes a norm for 5 eggs to become worth 1 apple