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AgsnFly
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In reply to FishrCoAg • 8:53a, 7/10/20
AG
FishrCoAg said:
Please elaborate on how you go broke taking profits

Most who trade place a high value on the success rate of their trades. This can lead to taking profits too quickly and letting losses grow in hopes of the trade turning into a winner. With this mentality, many of the losing trades grow into large losses as the trader finally stops out in extreme pain. If profits are are not covering these losses (because they are smaller), the person will eventually lose their stake. This is not a problem for the serious and highly disciplined trader but is a common problem for the many who try to make it in trading. Personally, I place no importance on the success rate of my trades; I am quick to exit my losing trades and extremely patient with my winners - as I follow my plan. This is the opposite of how most think but it has served me well for 20 plus years.
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tamu2009
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In reply to Mister Cooper • 8:54a, 7/10/20
AG
Im making my first poor mans covered call on this. I have a 2022 $3 call I paid like .5 for. Sold a 7/17 $17 call and after the last 2 days didn't like my chances. I find myself routing against it marginally.
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McInnis 03
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8:55a, 7/10/20
AG
This dude got a green hammer


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Rice and Fries
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In reply to Ragoo • 8:57a, 7/10/20
Ragoo said:
Be interesting to see what roku does here in the 153 range. Hitting an upper channel on the 4h chart.
Blew through that.... $155 now
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Barty Dont Hedge
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8:58a, 7/10/20
Hoping for a red to green day and not a blood bath....
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McInnis 03
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In reply to tamu2009 • 8:58a, 7/10/20
AG
tamu2009 said:
Im making my first poor mans covered call on this. I have a 2022 $3 call I paid like .5 for. Sold a 7/17 $17 call and after the last 2 days didn't like my chances. I find myself routing against it marginally.
Y'all need to remember. Short calls are not concreted into the Earth. As you approach expiration, you can manage your short call by buying it back and re-issuing if you so desire. Say that $17 call yields the underlying trading at 17.09 on day of expiry.....there's a chance the value of that call goes to $.20 and you can buy it back and reissue a new strike for your next effort.

The beauty of being the bank is the rules are a bit more flexible in your favor.
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McInnis 03
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8:59a, 7/10/20
AG
Roku trying to go nutty again.
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TecRecAg
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In reply to McInnis 03 • 9:03a, 7/10/20
AG
Hopped on the daily 155C. Let er runnnnn
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tamu2009
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In reply to McInnis 03 • 9:06a, 7/10/20
AG
Thank you for that reminder, still new to this one.

In this case, if I sold the call for $1 and it's trading at .2 close to expiry, I basically make the $80 (100 sell - 20 buy back) because in theory the time value reduces the value of the option even if it comes closer to being ITM.
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gougler08
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9:09a, 7/10/20
AG
So for those in TTOO (or just bought like me), you call sell the Jul 2.50 covered call for $0.05 to just scalp a little cash or if somehow there's news and it runs to 2.50 you just get the $1.20/share

Seems like an easy win/win
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AGSmith
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9:15a, 7/10/20
AG
I got options authorization last week, but was slammed at work this week, so I finally made my first 2 options buys this morning...

T 7/17 30C and PFE 9/18 35C
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TecRecAg
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In reply to AGSmith • 9:16a, 7/10/20
AG
AGSmith said:
I got options authorization last week, but was slammed at work this week, so I finally made my first 2 options buys this morning...

T 7/17 30C and PFE 9/18 35C
Welcome to your new addiction.

I'm on the same T call.
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RightWingConspirator
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9:17a, 7/10/20
AG
You guys will have to one day offer a tutorial for us folks that don't trade options. Yes, I know what puts and calls are, selling puts and calls, etc. you guys seem to have a much more practical, real world experience with them than me.
"But it is easier to purchase products that denote superiority than to be actually superior in economic achievement." - Thomas J. Stanley
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AGSmith
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In reply to TecRecAg • 9:19a, 7/10/20
AG
I figure I probably shouldn't look at the Sept call for a while, but what would you say is a good exit point for the T call?
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SW AG80
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9:20a, 7/10/20
AG
For the pros here, what do you see for Amazon over the next 6 months to a year? I am not sure what can stop Amazon, even the election.
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GtownRAB
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In reply to gougler08 • 9:22a, 7/10/20
AG
gougler08 said:
So for those in TTOO (or just bought like me), you call sell the Jul 2.50 covered call for $0.05 to just scalp a little cash or if somehow there's news and it runs to 2.50 you just get the $1.20/share

Seems like an easy win/win

Thanks for the heads up - just sold some
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Rice and Fries
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In reply to SW AG80 • 9:27a, 7/10/20
SW AG80 said:
For the pros here, what do you see for Amazon over the next 6 months to a year? I am not sure what can stop Amazon, even the election.
$3500 by years end, maybe $5K around 2022-23

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TecRecAg
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9:27a, 7/10/20
AG
There goes ROKU.
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TecRecAg
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In reply to AGSmith • 9:28a, 7/10/20
AG
As it stands right now I am -18.92% on it but have 7 days to go. If it can find its way above 20% profit I will exit.
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Charismatic Megafauna
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In reply to AGSmith • 9:29a, 7/10/20
AG
AGSmith said:
I got options authorization last week, but was slammed at work this week, so I finally made my first 2 options buys this morning...

T 7/17 30C and PFE 9/18 35C
Let's hope you get hit with "first one's free syndrome" on the PFE. I bought a handful of 0DTE 35.5 and 36 calls this morning!
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TecRecAg
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9:32a, 7/10/20
AG
Had a tight stop on ROKU. In at 3 out at 5.03.
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GtownRAB
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In reply to RightWingConspirator • 9:34a, 7/10/20
AG
RightWingConspirator said:
You guys will have to one day offer a tutorial for us folks that don't trade options. Yes, I know what puts and calls are, selling puts and calls, etc. you guys seem to have a much more practical, real world experience with them than me.
I am in the same boat as you. I just started options this week after lurking on this board for 3 months. I started slow with selling covered calls on stocks I inteded to keep. I have also bought a few options suggested on this board. Just focusing on cheaper ones (not Amazon or Roku) and 1 call at a time, so hopefully it doesn;t cost me much money to learn from mistakes.

Overall this week I sold abour $600 in 7/17 covered calls on various stocks. I did get in on OAs recomendation for 10 calls of PFE out to December, so that is my largest options purchase so far at about $1,100.

Disclaimer - I think it is important to note that my account is just a play around cash account, so I don't mind being risky and learning. It is not my retirment or any kind of money I intend to need in the short term.
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AGSmith
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In reply to TecRecAg • 9:35a, 7/10/20
AG
TecRecAg said:
Had a tight stop on ROKU. In at 3 out at 5.03.
Forgive me as I'm still learning, but 67% is considered a tight stop?
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Rice and Fries
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9:37a, 7/10/20
Just bought a longterm AMZN leap. Bezos take the wheel.
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Mister Cooper
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In reply to SW AG80 • 9:37a, 7/10/20
AG
Not a pro, but based on everything that has been said on this forum the only thing that can really stop Amazon is government interference. They will continue to grow IMO
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Charismatic Megafauna
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9:37a, 7/10/20
AG
he means he had a trailing stop, and a quick/small dip in option price triggered a sell
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TecRecAg
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In reply to AGSmith • 9:37a, 7/10/20
AG
Trailing stop. It had run up higher than 5.03 but came back down. So when it did, it auto-sold.

With something expiring today, at $300 per contract, 67% is a banger and I don't want to chase.
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M.C. Swag
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In reply to SW AG80 • 9:41a, 7/10/20
AG
SW AG80 said:
For the pros here, what do you see for Amazon over the next 6 months to a year? I am not sure what can stop Amazon, even the election.
Not a pro, but there's only 2 things i can think of that would halt this behemoth;
a) Government intervention (unlikely due to the sheer buying power that Bezos has on capital hill)
b) America as whole just collapses (and thus all money or stocks don't matter)

Suffice to say, I can't put enough money into AMZN.
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Charismatic Megafauna
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In reply to GtownRAB • 9:42a, 7/10/20
AG
wow the thread is moving today!

I don't do any of the fancy stuff mcinnis is always talking about but I feel like I've gotten a pretty decent grasp on how options work over the year or so I've been playing with them. I'd say try and learn the greeks, spend a lot of time watching bid/asks, volatility, and price/trajectory of the underlying, focus on understanding your max gain and max loss before you take a position, and try everything once in small quantities just so you can see how it works (i.e. sell puts and get assigned shares, sell puts that expire worthless, buy calls and exercise them, etc..). I had a really hard time understanding how puts worked until I sold some and got assigned, then it clicked.
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HoustonAg2014
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9:43a, 7/10/20
AG
I am so happy with Roku this week but also need it to take a lunch break and end the day at 159.99... I don't want to miss the train on this run... Sold calls at $160 after the initial move yesterday past $145 and it just can't stop won't stop.

I'm debating buying them back but its a 500% loss. Or I just hope it doesn't run too far on Monday and I can buy the shares back.
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Ragoo
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In reply to HoustonAg2014 • 9:45a, 7/10/20
AG
Aggiesincebirth said:
I am so happy with Roku this week but also need it to take a lunch break and end the day at 159.99... I don't want to miss the train on this run... Sold calls at $160 after the initial move yesterday past $145 and it just can't stop won't stop.

I'm debating buying them back but its a 500% loss. Or I just hope it doesn't run too far on Monday and I can buy the shares back.
well, at least your aren't me. I sold $150c out TWO YEARS. My p/l will go up about $150/day on theta decay so I've got that going for me.
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AgEng06
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In reply to Rice and Fries • 9:45a, 7/10/20
AG
Rice and Fries said:
Just bought a longterm AMZN leap. Bezos take the wheel.
Which one? Premiums are crazy!
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AGSmith
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In reply to HoustonAg2014 • 9:46a, 7/10/20
AG
Aggiesincebirth said:
I am so happy with Roku this week but also need it to take a lunch break and end the day at 159.99... I don't want to miss the train on this run... Sold calls at $160 after the initial move yesterday past $145 and it just can't stop won't stop.

I'm debating buying them back but its a 500% loss. Or I just hope it doesn't run too far on Monday and I can buy the shares back.
You could always roll the call out and up
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TecRecAg
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9:47a, 7/10/20
AG
Airlines are risky but...

SAVE 7/17 17/5C in at .85. Scalping, not looking for much.
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AgEng06
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9:47a, 7/10/20
AG
Who was it that posted about the ROKU Aug 180C? Prog?

I followed you after that post, and it is up 65% already.
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