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McInnis 03
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In reply to FJ43 • 1:16p, 1/19/21
AG
FJ43 said:
$WWR - you can sell Feb $12.50s right now for about $0,50. Kind of no brainer to me anyway if you haven't sold covered calls yet.
I'm kind of looking at selling PUT spreads for AUG, 7.5/5 for maybe $1.5 or more.
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Engine10
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In reply to tremble • 1:17p, 1/19/21
AG
tremble said:
What kind of accounts are people trading in? Is this IRAs or just regular taxable accounts? I love watching this thread but am a little intimidated by all the terms thrown around.

por que no los dos?! It's both for me
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Chef Elko
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1:17p, 1/19/21
AG
WWR feb $12.5 covered call gang
I'm the new 50 Cent
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Engine10
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In reply to [removed post] • 1:18p, 1/19/21
AG
CastleRock said:
I'm holding Feb05 $30c PLTR net free.

Feels like a dumb question, but do I sell or exercise?

Edit - Just sell!

Exercising would make you pay for the shares at $30/a share...which is above where it is now.



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Engine10
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In reply to McInnis 03 • 1:18p, 1/19/21
AG
McInnis 03 said:
FJ43 said:
$WWR - you can sell Feb $12.50s right now for about $0,50. Kind of no brainer to me anyway if you haven't sold covered calls yet.
I'm kind of looking at selling PUT spreads for AUG, 7.5/5 for maybe $1.5 or more.

Spicy - I like that
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ProgN
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In reply to Chef Elko • 1:19p, 1/19/21
Danwell Home said:
WWR feb $12.5 covered call gang
I'm the new 50 Cent
"Go Shorty....it's your birthday"
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cmk10
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In reply to trip98 • 1:20p, 1/19/21
AG
It will drop some, then just buy at a better price point.
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leoj
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1:20p, 1/19/21
AG
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In reply to Engine10 • 1:21p, 1/19/21
sts7049
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In reply to FJ43 • 1:21p, 1/19/21
AG
FJ43 said:
$WWR - you can sell Feb $12.50s right now for about $0,50. Kind of no brainer to me anyway if you haven't sold covered calls yet.
to hell with it, i jumped in the pool. let's see how this goes!
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AgEng06
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In reply to FJ43 • 1:27p, 1/19/21
AG
FJ43 said:
$WWR - you can sell Feb $12.50s right now for about $0,50. Kind of no brainer to me anyway if you haven't sold covered calls yet.
So just for clarity, since I'm mostly a put seller... If you sell the Feb $12.50 covered call and it expires ITM, you get exercised and lose 100 shares. But you will collect approximately $50 premium plus $1,250 for the 100 shares. Is that correct?

The downside is if it runs way above $12.50 you lose the gains you could have had above $12.50.

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Engine10
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In reply to [removed post] • 1:28p, 1/19/21
AG
No worries! If we're only ITM a little and it were me, I'd still sell and move on to something else. Capture gains and look for the next trade.

I only ever look at exercising if we've blown past my strike and support is forming above it. Example-I exercised some Jan $17 PLTR calls in December when it flew to $30, then had its worst day but still held $20. I wanted more shares so paid the $17/per to exercise.
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khaos288
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In reply to AgEng06 • 1:28p, 1/19/21
AG
Yup.
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wmitchell
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In reply to AgEng06 • 1:28p, 1/19/21
AG
AgEng06 said:
FJ43 said:
$WWR - you can sell Feb $12.50s right now for about $0,50. Kind of no brainer to me anyway if you haven't sold covered calls yet.
So just for clarity, since I'm mostly a put seller... If you sell the Feb $12.50 covered call and it expires ITM, you get exercised and lose 100 shares. But you will collect approximately $50 premium plus $1,250 for the 100 shares. Is that correct?

The downside is if it runs way above $12.50 you lose the gains you could have had above $12.50.

Yes that is my understanding as well
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TexasAg2017
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1:28p, 1/19/21
AG
Profit is profit but I'm feeling kinda dumb for selling those 7.5s on WWR when it was at 5.60 this morning.
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FJ43
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In reply to AgEng06 • 1:29p, 1/19/21
AgEng06 said:
FJ43 said:
$WWR - you can sell Feb $12.50s right now for about $0,50. Kind of no brainer to me anyway if you haven't sold covered calls yet.
So just for clarity, since I'm mostly a put seller... If you sell the Feb $12.50 covered call and it expires ITM, you get exercised and lose 100 shares. But you will collect approximately $50 premium plus $1,250 for the 100 shares. Is that correct?

The downside is if it runs way above $12.50 you lose the gains you could have had above $12.50.

Yep. If you get called away you keep the $0.50 X 100 + $12.50 X 100 for a total of $13 share. Not bad return eh?
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

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Mr President Elect
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In reply to AgEng06 • 1:31p, 1/19/21
AG
Yes. But if it is way past the strike price, there should be other options further out with higher premiums. You should be able to buy back the 12.50 to close and sell cc's further out for a net gain.
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AgEng06
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1:32p, 1/19/21
AG
Thanks guys (all of you) . I appreciate it.
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oldarmy1
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In reply to [removed post] • 1:32p, 1/19/21
AG
CastleRock said:
oldarmy1 said:
I went all the way to May $7.50 to get $2.05 covered calls on my WWR trading portion. $9.55 or $2.05 taking effective hold price just below $3 is a win for 25% of shares towards net free one direction or the other.

Working through an example to see if I have this right, with round numbers:

Buy 1000 shares at $5/share

Sell 3 May21 7.50c @ 2.05 for $615?

Hold calls to expiry? If it's at $10/share on strike date, they get called away and you make $750, plus the $615 premium?
Yes, but if I only had 1000 shares I'd go for the net free or reduced pricing by selling the May $10 at $1.7 instead.
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0708aggie
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1:33p, 1/19/21
AG
So how was the call?
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oldarmy1
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1:33p, 1/19/21
AG
We're going to spend a SIGNIFICANT amount of seminar time on options. The great equalizer to market makers.
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1:34p, 1/19/21
TexasAg2017
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In reply to TexasAg2017 • 1:37p, 1/19/21
AG
TexasAg2017 said:
Profit is profit but I'm feeling kinda dumb for selling those 7.5s on WWR when it was at 5.60 this morning.


On the bright side, I'm down to a $0.10 average on my remaining shares of CIDM. So that's nice
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Engine10
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In reply to [removed post] • 1:38p, 1/19/21
AG
CastleRock said:
Another fun hypothetical for the smart crowd, which I'm struggling to join:

Let's say you bought WWR at $5 and sold May21 7.50c. In March/April, WWR has drifted back down to $5.75-$6.00/share.

Do you close out your CCs?

Not so important on where you bought shares at vs where you sold the CC against those shares. Lot of time left on those options so I'd hold and soak out more premium
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jbeck3487
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In reply to [removed post] • 1:39p, 1/19/21
AG
CastleRock said:
Another fun hypothetical for the smart crowd, which I'm struggling to join:

Let's say you bought WWR at $5 and sold May21 7.50c. In March/April, WWR has drifted back down to $5.75-$6.00/share.

Do you close out your CCs?
I think you have to look at what the option price is. Are you happy with the gain? Do you want to wait for more decay?

For example, I sold the Feb 5p for 1.20. It is currently at .65. I will be waiting for more decay because I think it is unlikely to be more expensive to buy back around the exp date.
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jbeck3487
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1:40p, 1/19/21
AG
CIDM back over 1
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Maedan86
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In reply to jj9000 • 1:41p, 1/19/21
AG
jj9000 said:
Am I the only one that sees the WWR ticker...and has some variation of World Wrestling go off in their head?
I can relate. When I see ticker PHUN, I can't get the word phuntang out of my head.
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0708aggie
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1:41p, 1/19/21
AG
So pumped. My book is supposed to be delivered today.

Tomorrow we conquer the world!
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McInnis 03
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1:42p, 1/19/21
AG

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oldarmy1
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1:43p, 1/19/21
AG
MVIS update - He was clearly not wanting to divulge any growth numbers ahead of March earnings report. They have added twice as many channel marketers since August of last year. He sees an opportunity to add another 50% in 2021.

Margins have remained consistent and he was taken back by my knowing their current EBITDA. It sounds like they are exceeding their targets, but again, he was evasive. The competitive landscape is neutral, so pricing pressures shouldn't be an issue. He think the economy will continue to be fertile through 2021.

It sounds like they are about to pay off most of their short term notes, although they could be restructuring those into longer term, due to the favorable longer term rates.
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oldarmy1
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In reply to McInnis 03 • 1:44p, 1/19/21
AG
McInnis 03 said:

No time to read. Did he sell a naked call on SPY?
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Colt98
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1:45p, 1/19/21
AG
well that sounds positive!
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gig em 02
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In reply to oldarmy1 • 1:47p, 1/19/21
I think he sold 115,000 of them
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jwhitlock3
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1:48p, 1/19/21
Is MVIS a longer term hold with a price target or just something to purchase with the anticipation the company will be acquired and share price will rocket? I've been spending some time reading on them and everything I've read seems to point to their reduced debt making them a candidate for acquisition or a partner like Apple and Hyundai have been discussing.
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YNWA_AG
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In reply to oldarmy1 • 1:49p, 1/19/21
AG
oldarmy1 said:
We're going to spend a SIGNIFICANT amount of seminar time on options. The great equalizer to market makers.


I did have a question for the seminar on how you pick the optimal time value for your moves
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