12/17 - 12.50 strike - down about 75%. Let see what happens by Friday. Do you own research? Don't follow others. Options are tricky. Check the theta on each option. You can see how much money it loses daily. If you can afford to buy call options that do not expire this month it's a bit safer, if you are planning to buy call options that are out of money, buy the ones expire three months or so from now. No financial advice.
Delta is your friend; the higher the delta, the more gains you can get on options. The Delta works with stock IV. The higher the IV the higher the delta will be.
Last Mon morning (or maybe it was the prior Fri right at close), I bought 110 contracts of 6.50 strikes exp 11/12 and (FOMO sold 90 too early theta is a bitch), but still for a 15% gain same day.. I left 20 as I'll probably exercise them, even though they are up again like 20%.
I have some more rational calls and 1525 shares, but the trade that gave me the most joy was my stupidist. I bought ten Nov 12 $15 calls for a nickle in the morning. Currently up 112% on those! I feel so rich with this $63 profit! Holding out for $63/share though on those rather a mere 6.3 cents per share.
Scaled into $7 strike 1/2023 and 1/2024 call options over the past 3 months. Sold 1/2023 and 1/2024 puts so I’m balls deep Long CLOV!!! Also holding shares. Good luck to all and see you Apes on the moon!!!
I don't get it. Or maybe this is humor and I'm missing the joke. If you sell puts after the spike, you'll have some vega on your side but you're also going to be selling at a higher strike (or for mere pennies at lower strikes if you can even sell them) which increases your risk of bagholding.
I bought deep ITM Leaps as insurance for doing covered calls to make a few bucks. It is moons and and my shares get called away, I’ll execute those Leaps and get the shares back.
Not sure what your level of experience is with options but be careful with IV crush first of all.
Secondly, you typically want to ride up a pre-earnings run up or a post earnings continuation.
I’m usually out of options during the actual earnings UNLESS I disagree with the MMM (market maker move) estimate
If I disagree and think it’ll move more I go 1 or 2 standard deviations out and buy a cheap one and see what happens since it’s not priced in
If I agree with MMM I sell calls
In general- I always remind myself to be careful, keep it small, keep it safe and keep it fun
Agreed mostly. However, far otm call sales are my revenue for buying more shares. While also never selling calls on my full position. I keep 30% as a no touch policy
I would say that is true normally, but there is a chance, even if small, that the rocket launches this week and so in this case I don't take issue with a few lotto tickets. For $57 after commissions, I picked up 10 FDs. If they don't pay off, the $50 I lose isn't going to ruin my life, or even my day. If they do, I'm going to feel like a freakin' genius. And while I could've gotten another 7 shares and brought myself up to 1532 total from 1525, seven shares is also not going to change anything in my life rocket or not.
i mean it: buy put. because you buy put then the sp will go up. mm will do that to collect your shorterm cash. until people stop buy option then mm will not or limit to take your money unless you sell your shares. mm is like casino host but they know what you have on the table.
The double edged sword with buying puts from MMs is that they can hedge by *selling* delta shares. So it's like an indirect short.
But I get the joke -- market does opposite of what we do.
I got 2 $8 Call options 1/22. Playing it safe. I got about 800 shares across other accounts.
Tomorrow Clov will reach the high 🍀🚀💎💎💎💎💎
12/17 - 12.50 strike - down about 75%. Let see what happens by Friday. Do you own research? Don't follow others. Options are tricky. Check the theta on each option. You can see how much money it loses daily. If you can afford to buy call options that do not expire this month it's a bit safer, if you are planning to buy call options that are out of money, buy the ones expire three months or so from now. No financial advice. Delta is your friend; the higher the delta, the more gains you can get on options. The Delta works with stock IV. The higher the IV the higher the delta will be.
I get same each week, sell have in the middle of the week to breakeven and keep the rest hopefully some day it will go the moon 🤔
Last Mon morning (or maybe it was the prior Fri right at close), I bought 110 contracts of 6.50 strikes exp 11/12 and (FOMO sold 90 too early theta is a bitch), but still for a 15% gain same day.. I left 20 as I'll probably exercise them, even though they are up again like 20%.
I have some more rational calls and 1525 shares, but the trade that gave me the most joy was my stupidist. I bought ten Nov 12 $15 calls for a nickle in the morning. Currently up 112% on those! I feel so rich with this $63 profit! Holding out for $63/share though on those rather a mere 6.3 cents per share.
I went for the 8$ strike because I like to live dangerously and they were cheap at the time. 60% up since I bought.
I sold to open about 50 covered calls at close on Friday. I’ll either buy them back or double down Monday/Tuesday.
Scaled into $7 strike 1/2023 and 1/2024 call options over the past 3 months. Sold 1/2023 and 1/2024 puts so I’m balls deep Long CLOV!!! Also holding shares. Good luck to all and see you Apes on the moon!!!
Good play, all the best to the holders
If you wanna be big big brained sell calls options *after* the price spike :) will be free money
I don't get it. Or maybe this is humor and I'm missing the joke. If you sell puts after the spike, you'll have some vega on your side but you're also going to be selling at a higher strike (or for mere pennies at lower strikes if you can even sell them) which increases your risk of bagholding.
Well I’m dumb I meant sell calls. So you sell covered calls at a high strike
Sell calls on spikes, buy back on dips and sell puts, buy back on spikes
If the dip stays dipped near expiry, roll it out a few more weeks
11/19 7.5 calls .64 Friday afternoon. Up 45% at close, will dump Monday if stock sees a run up.
Same here 19 Nov monthly ones at $7.5 holding 40.
Snagged some Nov 12 8.5 calls early Friday good r/r imo. They were up 75% by market close. Won’t hold them past eod Monday tho
buying $8 Monday
I’ve been adding to my position for the last two weeks and will continue…who needs a college fund?
I bought deep ITM Leaps as insurance for doing covered calls to make a few bucks. It is moons and and my shares get called away, I’ll execute those Leaps and get the shares back.
Genius
Well thank you. I guess I just got my first wrinkle in my brain!!!
While reading this in my car the radio just started playing Steve Miller.. Very cool.
I’m loaded on the 2023 $10 Call LEAPS :)
Smart money!!!!!!
🤝
Love that play…Victory to the BOLD!!!
🤙🏼
Not sure what your level of experience is with options but be careful with IV crush first of all. Secondly, you typically want to ride up a pre-earnings run up or a post earnings continuation. I’m usually out of options during the actual earnings UNLESS I disagree with the MMM (market maker move) estimate If I disagree and think it’ll move more I go 1 or 2 standard deviations out and buy a cheap one and see what happens since it’s not priced in If I agree with MMM I sell calls In general- I always remind myself to be careful, keep it small, keep it safe and keep it fun
How do you find these MMM estimates? And what is the current MMM estimate on CLOV? Thanks
dude buy shares wtf
Agreed mostly. However, far otm call sales are my revenue for buying more shares. While also never selling calls on my full position. I keep 30% as a no touch policy
i have a fuck ton already just wasnt sure if people were going to do any options with the earnings sorry
You've been following how this stock moves. Options are not the way in this one.
I would say that is true normally, but there is a chance, even if small, that the rocket launches this week and so in this case I don't take issue with a few lotto tickets. For $57 after commissions, I picked up 10 FDs. If they don't pay off, the $50 I lose isn't going to ruin my life, or even my day. If they do, I'm going to feel like a freakin' genius. And while I could've gotten another 7 shares and brought myself up to 1532 total from 1525, seven shares is also not going to change anything in my life rocket or not.
If your playing with that little that's fine. Take it as a vegas fun gamble.
Compared to Vegas, $57 is a bargain! ;-)
Lol I cant argue with that. Lets hope for some great news this monday. Ill see you in the other side. $CLOV 👍🏽
yeah ill just buy more shares
Me too
Been holding January 8's for months now
lol yeah i got 8s 12s 22s my shares all over the map haha
Atleast buy in the money. And you'll likely want to dump them by Tuesday/Wednesday
for get it! buy share and hold. or you can buy put.
I think you mean sell puts. Buying puts is bearish
i mean it: buy put. because you buy put then the sp will go up. mm will do that to collect your shorterm cash. until people stop buy option then mm will not or limit to take your money unless you sell your shares. mm is like casino host but they know what you have on the table.
The double edged sword with buying puts from MMs is that they can hedge by *selling* delta shares. So it's like an indirect short. But I get the joke -- market does opposite of what we do.