I used to have 700 shares of Tesla pre-split. That's 3,500 post split. I sold covered calls to make extra income, and buy extra shares... Eventually I couldn't roll my covered calls far enough out into the future to cover them all, and lost shares. I never lost money. I've made $250,000 on an initial $60,000 investment. Yep, I've been the house, making that consistent income...
What did I lose? Let's see.. 3,500 * $1,088 = $3,808,00 - $250,000 = $3,558,000 in potential gains lost.
I played it safe, I played the house as it were, and as a result I missed out on $3.5 MILLION!
I'm back on dice.com and linkedin looking for jobs in the IT field where I was working previously. I seriously messed up, I could have a larger home that fits all my things and a Plaid Model S to boot, doing a bunch of nothing but fun, and instead I'm job hunting with a big gap in my employment that it seems is holding me back from being employed...
Too smart for my own good, and I should have just HODL? I'll go crawl back into my hole, and try not to vomit when I think about what I could have had.
I sold CC's consistently against almost all my shares since pre-split. (Once we hit Cathy's bear case price of $600 pre-split, I started selling CC's heavily, starting at $900 pre-split). Played mainly with longer term leaps. Each time I sold CC's, I used the proceeds to buy more Calls at lower strikes and for longer periods. (Sell short term, buy long term)
Have been hit a few times like 2019 etc where I have had to nuke my account, sell calls, shares etc to try and balance best I could.
I ended up ahead so far. If all my shares get called at 2500(post split), I will not have any regrets will end up a happy man. I need to keep trying to survive and make sure my shares stay intact beyond 2500 though & I am hoping to be in the game till then. cheers!!
(+ one thing I never played with was margin)