Say you bought 2 of the calls at $0.20 each. You could sell one at $0.40 to get all of your original capital back and still have the one remaining call as a runner.

ClutchCityAg said:

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RigsTx said:

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There is a wall at $1.15 for SNDL.

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I was just able to get .19 on an OCT $4 Covered call... feels like free money

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you say that now, but things can change quickly in a heartbeat with these meme driven stocks.

i wouldn't play around with calls so far out. too much uncertainty.

Yeah it's a bit off the hinge right now. I entered some June 4, $58/$63 call debit spreads for $1.40 when it was trading at $55, now it is trading around $62 and the debit spreads are still about $1.40

UNH coming up on my RSI/RSIcumu/ADX scan for a bounce-buy.....coincidentally it's also trying to touch the lower bollinger band which can often help bounce.

CNC is entering this play also but it's not as favorable yet....could have more to give.

CNK gon boom

CCIV just ripped!

Loading up on some NAKD, could go nutty AH....

McInnis 03 said:

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Loading up on some NAKD, could go nutty AH....

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always so scared to load up on something thats up 30% on the day. want to though.

Ditto on NAKD. Chart looking strong to me.

BLNK lottos are at $1.50 from 1.11. Scaled more out.

took some off too
BLNK

Ended up buying back all of my SNDL 6/11 $1 covered calls and sold 1/21/22 $7 on a third of them. Made a tiny bit more premium per contract. Figured I might as well leave myself room for some crazy upside. I doubt it gets to $7/share. Wanted to keep some shares available to sell at any time and not tied up as collateral. I'm too heavily weighted in SNDL. But in this environment I have more FOMO on a moonshot.

all out on BLNK
(hope I dont regret it)
Thanks FJ!
love playing the lotto

McInnis 03 said:

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Bed Bath and Bonkers.

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Bed Bath and Bananas

Solid close.

RenoAg said:

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Ended up buying back all of my SNDL 6/11 $1 covered calls and sold 1/21/22 $7 on a third of them. Made a tiny bit more premium per contract. Figured I might as well leave myself room for some crazy upside. I doubt it gets to $7/share. Wanted to keep some shares available to sell at any time and not tied up as collateral. I'm too heavily weighted in SNDL. But in this environment I have more FOMO on a moonshot.

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Worried about the moonshot as well, but just bought some cheap $1 and $1.5 calls for 6/11 an 6/18.

Good call IMO. I had a ton of shares and chose to pick up dimes selling premium, stock took off and left me high and dry when I was too stubborn to buy back calls that were up 10x.

Philip J Fry said:

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Solid 5% gain today. Wiped out my losses for the year.

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6% for me. And net free on almost all the calls I bought over the last couple of weeks, most of them out to December or January.

So I have never sold a put before. Can someone help me work my way through this for a second.

I am looking at VEON. It is at $1.88 right now. The sell to open premium is .35 for $2 on 9/17. (I think and hope it's going to be way above that point).

If I want the VEON stock anyway and I think $2 is a deal by the date 9/17/21

If I sell the put. I get the premium .35.

If the stock goes over $2 then I get the premium and I am a happy camper but no stock.

If the stock goes under $2 and is exercised. I have to buy the stock for $2.

Is that right? Sounds in my head like I am screwing something up. Trying to add something to my arsenal.

You are correct. If at expiration, the stock price is at or below $2, then the buyer can exercise that option and you have to buy the shares at $2.

Your cost basis for those shares will be $2 minus the $.35 premium, or $1.65/share.

The big thing you need to consider is that your trading company will hold the capital required to buy the shares at $2 ($200) per contract, so you won't be able to utilize that capital for nearly 4 months.

You have it nailed.

Prophet00 said:

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You are correct. If at expiration, the stock price is at or below $2, then the buyer can exercise that option and you have to buy the shares at $2.

Your cost basis for those shares will be $2 minus the $.35 premium, or $1.65/share.

The big thing you need to consider is that your trading company will hold the capital required to buy the shares at $2 ($200) per contract, so you won't be able to utilize that capital for nearly 4 months.

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Awesome, thank you guys. I appreciate it.