Man I totally missed SNSS shooting up.

McInnis 03 said:

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Jet Black said:

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khaos288 said:

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Jet Black said:

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Options question. I'm just learning about options and wonder if this is a good idea, terrible idea, meh idea.

AMD sept 11th 86.50c

Thanks

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You're buying an in the money call?

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Haven't bought anything yet and it is my understanding itm calls have less risk.

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I own 100c for the same date so we are thinking the same direction. Itm calls have better delta and they have intrinsic value, so yes, less risk. This isn't crazy, if we get a $5 run or something like that you'll take advantage of most of it.

Itm and atm calls are great. Otm calls are dreams, and dreams are wonderful but many get dashed.

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Let me ask a question. Can't a person still make money on an OTM option even if it is deep OTM? Seems to me that as the price increases (bought call), the bid price will rise and inasmuch as the bid price is greater than the ask I paid, can't I make money that way even if it never goes ITM?

I'm new to options trading and the above describes a position I hold on WEX. I bought a call with a $180 strike price and expiration of Feb 2021. I paid $13.91/contract and at least as far as yesterday is concerned, the bid on that same contract finished the day at $16.60/contract. Couldn't I close that contract and sell for a $268.35 gain even though the strike was never reached?

Yes

Yes.

RightWingConspirator said:

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McInnis 03 said:

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Jet Black said:

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khaos288 said:

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Jet Black said:

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Options question. I'm just learning about options and wonder if this is a good idea, terrible idea, meh idea.

AMD sept 11th 86.50c

Thanks

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You're buying an in the money call?

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Haven't bought anything yet and it is my understanding itm calls have less risk.

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I own 100c for the same date so we are thinking the same direction. Itm calls have better delta and they have intrinsic value, so yes, less risk. This isn't crazy, if we get a $5 run or something like that you'll take advantage of most of it.

Itm and atm calls are great. Otm calls are dreams, and dreams are wonderful but many get dashed.

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Let me ask a question. Can't a person still make money on an OTM option even if it is deep OTM? Seems to me that as the price increases (bought call), the bid price will rise and inasmuch as the bid price is greater than the ask I paid, can't I make money that way even if it never goes ITM?

I'm new to options trading and the above describes a position I hold on WEX. I bought a call with a $180 strike price and expiration of Feb 2021. I paid $13.91/contract and at least as far as yesterday is concerned, the bid on that same contract finished the day at $16.60/contract. Couldn't I close that contract and sell for a $268.35 gain even though the strike was never reached?

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Yes. It will increase in value less relative to the change in the stock price though. I.e., it has a lower delta.

Another rotation?

Yes, but might the returns be better relative to the price I paid? An ITM option will be far more expensive than an OTM option, or am I viewing this wrong?

So while it might not move 1:1 due to the lower delta, if it moves much at all and has enough time left to it, I'd think the returns would be stronger.

Running an experiment right now on some MSFT calls - one with a strike of $210 and another with a strike of $280. According to my calcs, I'd be up 171% on the deep OTM calls and up 67% on the ITM calls.

If I'm thinking this wrong, please correct me.

Will see if a wise move but had an order filled premarket on MARA at $2.15.

RightWingConspirator said:

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McInnis 03 said:

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Jet Black said:

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khaos288 said:

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Jet Black said:

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Options question. I'm just learning about options and wonder if this is a good idea, terrible idea, meh idea.

AMD sept 11th 86.50c

Thanks

---

You're buying an in the money call?

---

Haven't bought anything yet and it is my understanding itm calls have less risk.

---

I own 100c for the same date so we are thinking the same direction. Itm calls have better delta and they have intrinsic value, so yes, less risk. This isn't crazy, if we get a $5 run or something like that you'll take advantage of most of it.

Itm and atm calls are great. Otm calls are dreams, and dreams are wonderful but many get dashed.

---

Let me ask a question. Can't a person still make money on an OTM option even if it is deep OTM? Seems to me that as the price increases (bought call), the bid price will rise and inasmuch as the bid price is greater than the ask I paid, can't I make money that way even if it never goes ITM?

I'm new to options trading and the above describes a position I hold on WEX. I bought a call with a $180 strike price and expiration of Feb 2021. I paid $13.91/contract and at least as far as yesterday is concerned, the bid on that same contract finished the day at $16.60/contract. Couldn't I close that contract and sell for a $268.35 gain even though the strike was never reached?

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This is mostly what I do. Its like bunting to get in base but it has been working for me and my risk is low (mainly because my buy in is low too).

On Tuesdays or Wednesdays, I'll look for a strike way over the money thats less than 1.00. I buy 3 contracts around that price and set a stop like 5 cents below my purchase. This limits my loss. Need to sell by Thursday because the time decay will likely influence the price drop, if the stock price doesn't move up. Im also very new at this so take my strategy with a grain of salt.

RightWingConspirator said:

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Yes, but might the returns be better relative to the price I paid? An ITM option will be far more expensive than an OTM option, or am I viewing this wrong?

So while it might not move 1:1 due to the lower delta, if it moves much at all and has enough time left to it, I'd think the returns would be stronger.

Running an experiment right now on some MSFT calls - one with a strike of $210 and another with a strike of $280. According to my calcs, I'd be up 171% on the deep OTM calls and up 67% on the ITM calls.

If I'm thinking this wrong, please correct me.

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Your thinking is correct. As for the specific quantities, I believe your results will vary.

Thanks, guys!

E said:

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Square Pair said:

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Man I totally missed SNSS shooting up.

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You didn't miss anything, they did a split.

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So what are the thoughts on SNSS now? This is the first time I have held a stock that did a reverse split. First thought is to bail, yesterday was a bad day.

Stonks only go up

Bought 355P Friday spy puts at the close yesterday as a hedge, looks like that they will have some value here. I'm thinking of selling some puts below that to bring some of my risk back in but at the same time leave a hedge in place that can still garner more value should a drop continue..........

$SIG did enough to make sure I get called out on my $14 covered calls on 9/18. That runup the last few weeks has been hard to keep up with.

Prognightmare said:

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Quote:

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Roku Launches Roku Express in Brazil
9:00 am ET September 2, 2020 (BusinessWire)

Roku, Inc. (NASDAQ: ROKU), the No. 1 TV streaming platform in the United States*, today announced the launch of Roku Express, the company's first streaming device in Brazil. The Roku Express transforms most traditional TVs into a better Smart TV and is expected to be available in stores in the upcoming weeks at an average starting price of R$349.90.

"We're thrilled to launch the first Roku streaming player in Brazil," said Arthur van Rest, vice president of international at Roku. "We entered Brazil in January with the AOC Roku TV and are thrilled to expand our product offering with the Roku Express, which will bring an affordable streaming experience to even more consumers in Brazil."

The Roku Express can be connected to most traditional TVs via HDMI to convert it into a smart TV with Roku's operating system, offering consumers an intuitive home screen and access to 100,000+ movies and TV episodes via thousands of free and paid streaming channels.

The Roku Express is a small, yet powerful HD streaming device with a sleek form factor that is designed to blend in when connected to a TV. Setup is simple and it can be fully powered by most televisions which reduces the clutter of cables.

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Announces a great business plan stock drops 6% in 2 days with 2 upgrades in the stock. Makes perfect sense for Roku...

what's the deal with MARA?

OSTK on its way early to another shi*est...This thing really does seem like its headed back below $50 at this rate. Geez.

McInnis 03 said:

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Already setting alerts for FB and HD tomorrow. FB could be a hard runner, bull flag break to possible new ATH? Yes please.

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Planning on any HD calls?

CrazyRichAggie said:

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what's the deal with MARA?

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I didn't see any news to cause the drop specifically to MARA. OA encouraged patience on this one a few weeks back as the swings could be big but a darling of Bitcoin. I had an order fill premarket to average myself down and plan to watch this one moving to more of a mid term trade vs swing trade depending on its accumulation. Unless of course the opportunity presents itself.

New coverage initiated on MGNI at a buy rating and $10 price target. It is up to $7.75 premarket

zwhag2010 said:

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McInnis 03 said:

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Already setting alerts for FB and HD tomorrow. FB could be a hard runner, bull flag break to possible new ATH? Yes please.

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Planning on any HD calls?

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I have an alert set to show me if it runs to 288.83. I want price confirmation before I want to buy speculation.

...I think my platform is broken too, lol

Yeah BTC took a dump the past couple of days

If you are in MBIO and can sell $5 OCT covered calls right now for $1, I'd do it. I dont' know if that's what they're actually moving for but that's the Mark on TOS.

I have all of 150 shares, so why not make $100. Ha

My stop limit for my DIS call was too tight. Sold at the open.

Are we still confident in ZEST? Seems to be losing steam past couple days

Damn FB at least let me put some lipstick on before you **** me.

tam2002 said:

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Are we still confident in ZEST? Seems to be losing steam past couple days

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A lot of stuff happening this month. Uplist pending. Walmart announcing Walmart + in a couple of weeks. Daubert Hearing scheduled the 29th. A lot of potential for this to be done in September. 3 day weekend coming as well. We're at a good accumulation point here.

Bid is zero and ask is .50 for me in fidelity

McInnis 03 said:

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If you are in MBIO and can sell $5 OCT covered calls right now for $1, I'd do it. I dont' know if that's what they're actually moving for but that's the Mark on TOS.

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To do that, you have to have 100 shares of the stock. You sell the option ($5 call) and own the stock. If exercised the stock is gone and you have the premium. If not, you have the premium and keep the stock. Do you have to designate it as a covered call some way or just sell the call and hold the stock and the brokerage takes care of it if exercised? Interactive brokers is who I use.

Charlie Kelley said:

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Bid is zero and ask is .50 for me in fidelity

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Lol. I'm the .50. I have a standing limit order to double up and I don't want to watch it all day.