oldarmy1 said:

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No time to wait for advanced trading tactics on REI. This is called angling in to a late mover. I bought a bunch of shares and I sale the $2.50 covered calls out months from here on 50%. If it's above $2.50 then you just got a net free angle in trade. If it's below $2.50 then you just reduced your hold price significantly to "catch up" with earlier entries.

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I bought but used the Feb 19 for $0.21. I'm completely fine buying for $1.60 and selling for $2.71 with two weeks of work.

I like how NLS looks on the 1 hour.

I see you SNDL.

someone was laughing at me for selling XL and buying CCIV. I bought dip Wednesday, and just sold a Feb 45C for 4.00.
Whoop!

Bought back my $10 2/19 CC's on WWR for 1.55
Sold $15 3/19 CC's on WWR for 1.65

Sold $15 5/19 CC's on MVIS for 3.10

FbgTxAg said:

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AAPL has to fight tooth and nail to gain every penny. Some folks out there having to fight just as hard against it. When they throw in the towel, it's going to absolutely rip.

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Yup....if you have a lot of cash sidelined do something similar to what I did in my dad's account two days ago at lower levels. Trade works the same. Buy the Feb 12 $136 Puts now on however many shares you are going to hold long. Then sit and see if we move higher into close. The Puts will lose some but not as much as the gain in shares. More importantly the call options prices will move upward. If it rips before closing you may consider just holding. If it eases up above $137.30 then you sell a factor of shares $140 covered calls out to Feb 26 that the PREMIUM (Currently $2.64) offsets nearly 2:1 the Put cost and only do so on 50% of the shares bought. Looks like this.


Entered 10k $136.90 shares

Bought 100 $136 Feb 12 Puts $1.50

Enter 50 Feb 26 $140 covered calls at $2.62

You have $3 in gains if AAPL runs like expected on 5000 shares. You have downside protection at $136 on 100% of the trade with the 100 Puts PAID FOR with the 50 covered call premium. You have 5000 shares riding free to amass the top side gains through next Friday before having to make a decision.

oldarmy1 said:

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FbgTxAg said:

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AAPL has to fight tooth and nail to gain every penny. Some folks out there having to fight just as hard against it. When they throw in the towel, it's going to absolutely rip.

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Yup....if you have a lot of cash sidelined do something similar to what I did in my dad's account two days ago at lower levels. Trade works the same. Buy the Feb 12 $136 Puts now on however many shares you are going to hold long. Then sit and see if we move higher into close. The Puts will lose some but not as much as the gain in shares. More importantly the call options prices will move upward. If it rips before closing you may consider just holding. If it eases up above $137.30 then you sell a factor of shares $140 covered calls out to Feb 26 that the PREMIUM (Currently $2.64) offsets nearly 2:1 the Put cost and only do so on 50% of the shares bought. Looks like this.


Entered 10k $136.90 shares

Bought 100 $136 Feb 12 Puts $1.50

Enter 50 Feb 26 $140 covered calls at $2.62

You have $3 in gains if AAPL runs like expected on 5000 shares. You have downside protection at $136 on 100% of the trade with the 100 Puts PAID FOR with the 50 covered call premium. You have 5000 shares riding free to amass the top side gains through next Friday before having to make a decision.

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Awesome strategy right there, thanks!

Also pretty big league.....(quickly checks account --- yeah, I'll just watch this one)

oldarmy1 said:

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FbgTxAg said:

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AAPL has to fight tooth and nail to gain every penny. Some folks out there having to fight just as hard against it. When they throw in the towel, it's going to absolutely rip.

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Yup....if you have a lot of cash sidelined do something similar to what I did in my dad's account two days ago at lower levels. Trade works the same. Buy the Feb 12 $136 Puts now on however many shares you are going to hold long. Then sit and see if we move higher into close. The Puts will lose some but not as much as the gain in shares. More importantly the call options prices will move upward. If it rips before closing you may consider just holding. If it eases up above $137.30 then you sell a factor of shares $140 covered calls out to Feb 26 that the PREMIUM (Currently $2.64) offsets nearly 2:1 the Put cost and only do so on 50% of the shares bought. Looks like this.


Entered 10k $136.90 shares

Bought 100 $136 Feb 12 Puts $1.50

Enter 50 Feb 26 $140 covered calls at $2.62

You have $3 in gains if AAPL runs like expected on 5000 shares. You have downside protection at $136 on 100% of the trade with the 100 Puts PAID FOR with the 50 covered call premium. You have 5000 shares riding free to amass the top side gains through next Friday before having to make a decision.

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Absolutely beautiful. Now if I could just talk my parents into such a risky trade as this.

I also shamelessly copied & pasted this to my trading strategy notebook.

0708aggie said:

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Wow the cash outlay there is amazing.

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0708aggie said:

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Wow the cash outlay there is amazing.

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We have some millionaires on here, but you can do the same strategy with 300 shares. You need 3 Puts so you can sell 1 covered call. If I were doing it as a smaller trade I'd buy the shares here and use a $138 covered call so you only have to sell 1 to cover your Put side premium. You don't care so much about that 100 shares. You are using the tools available to position for a run on the 200 open shares.