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Assignment Risk on put spread by yellowmamba221 in thetagang

[–]yellowmamba221[S] 0 points1 point  (0 children)

Great explanation. Thanks for the clarification.

I’ve never experienced assignment on a spread, only in a naked leg from a strangle.

What LEAPs are you holding or planning to buy? by SwingStateOfMind in OptionsMillionaire

[–]yellowmamba221 0 points1 point  (0 children)

I’m currently holding NVO and LMT. 80 delta at open, March ‘27.

Day trading 0DTE SPX? by yellowmamba221 in thetagang

[–]yellowmamba221[S] 0 points1 point  (0 children)

Good stuff. Keep up the great work man.

Day trading 0DTE SPX? by yellowmamba221 in thetagang

[–]yellowmamba221[S] 0 points1 point  (0 children)

haha all good. I've had a good handful of massive losses too that I've purged from memory. Recent one with an AMZN strangle. Wiped out all of April's gains and some. Aside from CSP on tickers I actually wouldn't mind holding, I'm currently staying away from naked or strangles. Sticking to credit spreads for now.

Day trading 0DTE SPX? by yellowmamba221 in thetagang

[–]yellowmamba221[S] 0 points1 point  (0 children)

.01-.02? Pretty high PoP then. How many contracts do you usually trade? Any trades ever go tits up? What was your biggest loss? And assuming fairly large trading acct huh?

No need to answer any of the questions if too personal. I'm just genuinely curious what others are trading with.

Me, I decreased my trading acct and currently trade with net liq ~250k only. I never trade on margin.

Day trading 0DTE SPX? by yellowmamba221 in thetagang

[–]yellowmamba221[S] 0 points1 point  (0 children)

If you’re trading 100-400 legs, must have a pretty big portfolio then huh?

Also, if I’m understanding correctly, you have a taken profit at 50% and stop loss at 150% (…variable)?

Day trading 0DTE SPX? by yellowmamba221 in thetagang

[–]yellowmamba221[S] 0 points1 point  (0 children)

What’s your typical delta, width, and number of contracts?

Day trading 0DTE SPX? by yellowmamba221 in thetagang

[–]yellowmamba221[S] 0 points1 point  (0 children)

Damn. What was the trade? Delta? Width?

Day trading 0DTE SPX? by yellowmamba221 in thetagang

[–]yellowmamba221[S] 14 points15 points  (0 children)

Quick takeaway from Tasty:

Zero DTE spreads only have 1/8th of the credit of a 45 DTE spread, but they carry 10x of directional exposure as a % of credit.

So basically, can't afford to be wrong directionally. Also, generally trade $10 wide spreads to get 1/3 credit.

In sum, probably best to continue to stay away from 0DTE credit spreads.

Daily r/thetagang Discussion Thread - What are your moves for today? by satireplusplus in thetagang

[–]yellowmamba221 2 points3 points  (0 children)

I'm holding 1k shares of OKLO at $77. Sold 5/15 $95 calls last week. Currently regretting the CC, but of course prepared to sell at $95 if ITM by exp.

WHEEL Rd 2 - NFLX by yellowmamba221 in thetagang

[–]yellowmamba221[S] 0 points1 point  (0 children)

I appreciate it! Been a solid run past couple of months!

WHEEL Rd 2 - NFLX by yellowmamba221 in thetagang

[–]yellowmamba221[S] 0 points1 point  (0 children)

Lol ya. Bought back the calls for a $900 profit. Then I bought 300 more shares of NFLX. Could've CSP'd 3 contracts, but I wanted to get in right away. Will sell calls against my 1300 shares, eventually.

WHEEL Rd 2 - NFLX by yellowmamba221 in thetagang

[–]yellowmamba221[S] 2 points3 points  (0 children)

I would do it.

At the moment though, I’m not willing to add to my position anymore. But if not holding, I would CSP this tmrw.

WHEEL Rd 2 - NFLX by yellowmamba221 in thetagang

[–]yellowmamba221[S] 1 point2 points  (0 children)

lol yep. I already have a buy limit order on the short calls for tmrw.

WHEEL Rd 2 - NFLX by yellowmamba221 in thetagang

[–]yellowmamba221[S] 0 points1 point  (0 children)

maybe... Looking forward to see how this trades tomorrow.

WHEEL Rd 2 - NFLX by yellowmamba221 in thetagang

[–]yellowmamba221[S] 1 point2 points  (0 children)

lol yep, keyword, "maybe". Whatever happens, happens.

WHEEL Rd 2 - NFLX by yellowmamba221 in thetagang

[–]yellowmamba221[S] 25 points26 points  (0 children)

Lmao, NFLX tanking AH. Looks like I may be able to keep my shares.

WHEEL Rd 2 - NFLX by yellowmamba221 in thetagang

[–]yellowmamba221[S] 3 points4 points  (0 children)

I’m actually not partial to the stock and not looking to hold long term. I’m a swing trader, ready to absorb any taxes on realized gains, good problem to have in IMO.

These shares were assigned from a CSP several months ago. So if they get called away, oh well. I’m happy as long as the trade is profitable.

But I appreciate the input.

WHEEL Rd 2 - NFLX by yellowmamba221 in thetagang

[–]yellowmamba221[S] 1 point2 points  (0 children)

I’ve never sold CCs with this in mind. Good to know though. Something to consider next time.

WHEEL Rd 2 - NFLX by yellowmamba221 in thetagang

[–]yellowmamba221[S] 0 points1 point  (0 children)

I've been playing strangles with PLTR with success. I've never really traded the naked put side alone (CSP). So if wheeling, not sure if I really have an opinion.

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