InTheShadows
Active Member
Yea it was like the whales gave the MM’s the finger.Very interesting close.
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Yea it was like the whales gave the MM’s the finger.Very interesting close.
And that's the thing to learn from today.Wow @ the 9/3 730C bottoming an hour ago at a penny and closing just under $4!
my Roth is with TD and I’ve been selling CC for almost a year. Can’t borrow but as long as I have cash or the shares I can sell puts and calls.Anyone in the US have a Roth that allows them to sell covered calls against long calls (have to be ITM?)? My broker has initially responded that I can’t do it in my Roth.
Aggressive, rationale?I'm in for STO cc 40x 9/10 $45k premium
20x $720 Roth
10x $735 Trad IRA
10x $745 Personal
To clarify, I'm selling cc against shares, but my question is whether I can also do it against long calls.my Roth is with TD and I’ve been selling CC for almost a year. Can’t borrow but as long as I have cash or the shares I can sell puts and calls.
Appears to be a ~10x jump in volume at the 4pm spike vs. a few minutes earlier, so a closing cross?Yea it was like the whales gave the MM’s the finger.
But, but.... 420! Of course it's a good deal.BTC 2x c735@$0.05, STO 9/10/21 8x C745@$4.20. Not sure if $4.20 was a good "deal"...
I've only got shares in my Roth (still thinking about a big conversion to LEAPs). But I've been selling CC in an IRA against longer dated calls - it's all I have in that account (no shares) - and it's never an issue. Been selling a bucket of these .Anyone in the US have a Roth that allows them to sell covered calls against long calls (have to be ITM?)? My broker has initially responded that I can’t do it in my Roth.
Wow @ the 9/3 730C bottoming an hour ago at a penny and closing just under $4!
And that's the thing to learn from today.
Don't count your chickens before they expire. close them out if close.
This dynamic, of a late move in the share price, except spread out over the whole expiration day, is what created my single biggest losing position. This last minute dynamic where minor share price moves can create HUGE option premium moves is one reason I pay the .10 or .50 when I near expiration and positively close positions. It's never necessary or beneficial - until it is.Appears to be a ~10x jump in volume at the 4pm spike vs. a few minutes earlier, so a closing cross?
To clarify, I'm selling cc against shares, but my question is whether I can also do it against long calls.
That is awesome! For retirement goals. I was trying to figure out how I wanted to define mine and put quite a bit of thought into it.I had my best week since I started tracking weekly results about 2 months ago. 2.1%! Thanks to everyone for all the ideas and knowledge sharing. As someone who used to be constrained by a smaller overall portfolio (for this thread's standard), I wasn't able to sell many CCs or LCCs, or CSPs, spreads have truly been a game changer for me.
2 years ago I was not even thinking about retirement. 1 year ago, I set a goal date of 2025. Now that goal date is revised to Dec 31, 2022. I want to take all of 2022 and see if can consistently replicate what I am doing. If I can, I'll be "retiring" to sell options full time! (sounds weird to even say that). This is more fun than I've had in 30 years of my career!
Sure, I'm much more aggressive with the Roth since I've yet to have any shares get pulled away and if that happened there would NOT be any tax burden, so yeah! Then hammer puts like most of you already do.Aggressive, rationale?
@adiggs Degenerate Gambler Mega threadThis thread is full of a bunch of degenerates.
That's a compliment.
Yes. I have level 3 with spreads. In E*TRADE.
My IRA is with them. You need level 2 with the spread agreement.Thanks for this nudge. I haven't been able to do Spreads in my Roth. Just figured it wasn't a thing for IRAs.
Did some checking and with Fidelity this is the message I get when applying "Level 3, 4 and 5 are not available with a retirement account. Spread trading is not available as this account has an FDIC-Insured Deposit Sweep core position which is not allowed. To apply for spreads trading, you need to change your account's core position. Go to the Positions page, click on the account's core position, then select the "Change Core Position" button, or call us at 800-343-3548"
Hopefully next week I'll be able to do spreads in my Roth as well.
BTW, this is the best thread on TMC(maybe the internet). It's completely changed my life, and my ability to make money has grown immensely. Cheers to all the regular contributors, us stalkers appreciate it!