McInnis 03 said:

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Be right Stewie, be right.

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oldarmy1 said:

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FJ43 said:

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ATVI getting its feet under it again.

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Give us $77.50 and we'll get paid

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McInnis 03 said:

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FJ43 said:

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Puts engaged.

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FJ43 said:

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oldarmy1 said:

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FJ43 said:

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ATVI getting its feet under it again.

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Give us $77.50 and we'll get paid

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$77.58 !!!

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oldarmy1 said:

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cptthunder said:

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Very new to the covered call world so am I crazy for selling a March 2021 6C on MARA for $1.30 which makes my cost basis $1 and if I get called out I make a 5X return

Just missed OAs post on this

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Nope...you just have a longer tie up of the trade but patience is a winning strategy too!

Also, I almost always get the covered call in place BEFORE buying the stock. Eventually I got to where I would wait to see if it pullback for even more spread between the covered call and stock buy. For example $1.25 covered call placed when stock was at $3.38 and now its at $3.33. You actually have a naked call going on and the ask is down to $1.20 so you are up $0.50 on 10 covered calls AND the stock price is at $3.30

Judge your willingness to hold off buying as long as you want and if it just keeps dropping then your calls are gaining in value to you and you determine when to enter the stock. I would NOT hold naked calls over night on stocks like these because they could race at any time leaving you bankrupt. Must have constant eye on it once you sell the call.

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zwhag2010 said:

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FJ43 said:

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oldarmy1 said:

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FJ43 said:

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ATVI getting its feet under it again.

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Give us $77.50 and we'll get paid

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$77.58 !!!

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On target for 2.70 for 80 calls and 2 for 82.5 still then?

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cmk10 said:

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what does that Tweet mean?

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cptthunder said:

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oldarmy1 said:

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cptthunder said:

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Very new to the covered call world so am I crazy for selling a March 2021 6C on MARA for $1.30 which makes my cost basis $1 and if I get called out I make a 5X return

Just missed OAs post on this

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Nope...you just have a longer tie up of the trade but patience is a winning strategy too!

Also, I almost always get the covered call in place BEFORE buying the stock. Eventually I got to where I would wait to see if it pullback for even more spread between the covered call and stock buy. For example $1.25 covered call placed when stock was at $3.38 and now its at $3.33. You actually have a naked call going on and the ask is down to $1.20 so you are up $0.50 on 10 covered calls AND the stock price is at $3.30

Judge your willingness to hold off buying as long as you want and if it just keeps dropping then your calls are gaining in value to you and you determine when to enter the stock. I would NOT hold naked calls over night on stocks like these because they could race at any time leaving you bankrupt. Must have constant eye on it once you sell the call.

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Thanks to your advice I actually started this position by selling the 3P about a month ago and getting assigned and this is my 2nd round of covered calls on this position now
Really interesting to hear a different side this this strategy, cant say thanks enough for all the knowledge you share
Turned 1K into 5K the last 3 months since diving in and trying to turn some positions into more stable patient growth now

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McInnis 03 said:

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Traded one of my net free ROKU calls for 100 Academy shares plus some cash.

I just graduated from the OA1 school of Net Free.

This is in the IRA, so looooooong hold on ASO.

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McInnis 03 said:

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Traded one of my net free ROKU calls for 100 Academy shares plus some cash.

I just graduated from the OA1 school of Net Free.

This is in the IRA, so looooooong hold on ASO.

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$30,000 Millionaire said:

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McInnis 03 said:

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Traded one of my net free ROKU calls for 100 Academy shares plus some cash.

I just graduated from the OA1 school of Net Free.

This is in the IRA, so looooooong hold on ASO.

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this is how I'm accumulating OSTK and CWH. I am selling ****loads of puts and putting the premium into shares. if I get assigned, f it. I'll just sell a cc against it.

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topher06 said:

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Net free on some SNAP calls with a minor profit booked. Sure I sold too soon, but this lets me leave and head out for an outside lunch with my wife without caring what antics may be played the rest of the day before the Thanksgiving weekend.

Thanks again OA1, everyone in this thread owes you and Ranger a lot.

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jwhitlock3 said:

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Couple questions

1) how do you sell a covered call without owning the underlying shares first?
2) If you bought at 3.34, and sold the 2.50 covered call for 1.25, wouldn't you get called out guaranteed and then you'd be selling at effectively 3.75, that's a gain of $41 or 12% (gig em). Why would you go this route instead of selling the $4C Dec 18 for .80? That leaves more upside, and still reduces your risk and cost of ownership to $2.50ish per share.

Is this just a way to turn a quick 12% in 30 days and you're banking on being called out for sure?

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jwhitlock3 said:

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Couple questions

1) how do you sell a covered call without owning the underlying shares first?
2) If you bought at 3.34, and sold the 2.50 covered call for 1.25, wouldn't you get called out guaranteed and then you'd be selling at effectively 3.75, that's a gain of $41 or 12% (gig em). Why would you go this route instead of selling the $4C Dec 18 for .80? That leaves more upside, and still reduces your risk and cost of ownership to $2.50ish per share.

Is this just a way to turn a quick 12% in 30 days and you're banking on being called out for sure?

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McInnis 03 said:

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$30,000 Millionaire said:

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McInnis 03 said:

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Traded one of my net free ROKU calls for 100 Academy shares plus some cash.

I just graduated from the OA1 school of Net Free.

This is in the IRA, so looooooong hold on ASO.

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this is how I'm accumulating OSTK and CWH. I am selling ****loads of puts and putting the premium into shares. if I get assigned, f it. I'll just sell a cc against it.

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I'm getting assigned CWH and RKT today on puts, I'll be ok with it as the premium makes it a nice discount.

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oldarmy1 said:

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jwhitlock3 said:

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Couple questions

1) how do you sell a covered call without owning the underlying shares first?
2) If you bought at 3.34, and sold the 2.50 covered call for 1.25, wouldn't you get called out guaranteed and then you'd be selling at effectively 3.75, that's a gain of $41 or 12% (gig em). Why would you go this route instead of selling the $4C Dec 18 for .80? That leaves more upside, and still reduces your risk and cost of ownership to $2.50ish per share.

Is this just a way to turn a quick 12% in 30 days and you're banking on being called out for sure?

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Good thinking. I'm using the ultra conservative no lose way to build. If you have more risk tolerance then its not too risky to use the $4 calls. If the stock dropped back to retest support at $2.06 though the $0.80 helps but you are left waiting for the next build. A good way is to do both! 50% $2.50 and 50% $4. Again, this is equity build strategies so I want most all the risk off the table for those people.

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oldarmy1 said:

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Rocket volume....do something you scud missile you

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gigemJTH12 said:

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oldarmy1 said:

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topher06 said:

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Net free on some SNAP calls with a minor profit booked. Sure I sold too soon, but this lets me leave and head out for an outside lunch with my wife without caring what antics may be played the rest of the day before the Thanksgiving weekend.

Thanks again OA1, everyone in this thread owes you and Ranger a lot.

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Get net free on this push...smaller equity builders should sell it all

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got out at 2.40 for a nice profit. Thanks OA!

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