CC09LawAg said:

---

Thank you not only for the recommendation but for checking in and keeping tabs and answering questions.

I will make some money off of this but in the 2 1/2 months I started watching and following this play I have learned a million lessons. I should've made a boat load of money but I'm going to be happy with the gains I did get and the knowledge gained.

---

I really do enjoy doing what I can for y'all and enjoy seeing everyone's success.

CC09LawAg said:

---

That is fair. I'm trying to think it through realistic possibilities that will play out over 2 weeks. I don't think I'd sell the calls until early next week if I do - not sure how high this thing is going to go and I really, really don't want to let my shares go.

You're right though, it may just be another example of short sighted thinking which has cost me enough money already.

---

Then don't even give yourself the chance. It could be a great opportunity to make some money with low risk. But if you want the shares over anything else, then just ride it out.

I remember back in 2021, I sold CLOV $11 calls for like $2.50 each when OA was pounding the table that it would go to $20.

I ended up being unable to sell the shares well above $20 after it continued to spike, and by the time the calls expired, I still had my shares and never got the chance to sell them again, as I watched them bleed down and kept telling myself it would come back.

ProgN and I are on the same page.. have your target in mind and let it go when your plan plays out. Take the gains and move them to the next bullish play and compound on them.

Can we please get SMCI above $800 now? Help a brother out. (Talking to the market gods, not this board.)

fwiw, I gave up on selling CC's. I sucked at it. Setting stops and not falling in love with anything has worked a lot better for me.

Thanks Prog!

My plan is to hold POWL tomorrow through what could be a wild day. I'm nearly 100% guaranteed to chicken out and sell once I see where it opens.

Hopefully Mr. Thomas W. Powell is a huge TAMU football fan

CC09LawAg said:

---

My logic may be wrong here, but I have lost my ass trying to buy calls/puts. Entirely my own fault due to lack of discipline with stop losses and what not.

My thought is with selling calls/puts, if you're doing it with stocks you don't actually mind holding, at least if you screw up you still have an asset at the end, even if it's depreciated to some degree - if you screw up buying calls/puts, they expire and you are left with nothing.

---

Selling puts - must be willing to own at strike level.
Buying puts - must feel confident price will land at expiration below your strike+premiu paid.
Selling calls - must be willing to lose shares at strike
Buying calls - must feel confident stock will land at expiration above your strike+premium paid.

Where people make the biggest mistake is buying calls, because they don't understand gamma or theta. Calls are extremely punishing if a stock isn't constantly pushing up or you are well in the money. Low gamma and low volatility will crush premium. Theta will crush more and more as time runs out. Also, people tend to spend the most money buying calls and puts during volatile time periods like FOMC and earnings.. where even being right can get you wiped out as you bought into high volatility and will be selling, potentially not even in the money, at low volatility.

For those that aren't experienced options traders AND don't have reliable methods that can identify market trends, it's best to stick with buying shares, setting good stops, and setting targets. And then you have to follow through on selling when your target is hit and moving on. Either that, or follow someone who has a good track record of successful options plays and be willing to bank your success entirely on them.

Well, wish I had gone big on POWL, but happy with the tiny position I had.

CC09LawAg said:

---

Heineken-Ashi said:

---

For those that aren't experienced options traders AND don't have reliable methods that can identify market trends, it's best to stick with buying shares, setting good stops, and setting targets. And then you have to follow through on selling when your target is hit and moving on. Either that, or follow someone who has a good track record of successful options plays and be willing to bank your success entirely on them.

---

Yes, deep down I know this to be true, but this takes so much time, patience and so much more capital! And then there is always the Monday morning quarterbacking on how much I could have made had I just done ___ differently....

But I am coming around. I've seen my account fluctuate from high highs and low lows and it's taken a toll on me. I don't have it in me to live that rollercoaster every day. I think the style above is much more forgiving.

POWL has made me see the light. Had I done that right, I could have basically doubled whatever I put into it. But I was a combination of impatient, inexperienced, and panicked.

---

It takes money to make money. Calls are sexy because of the promise if huge paydays when they play out. But unless you are a pro, most people lose far more than they make, even when they hit the jackpot on a handful.

I know some very experienced traders who play a lot of options and are banging their head against a wall 60-75% of the time, constantly having to re-assess their strategy vs the engrained human psychology. Even with a top tier system, it can be PAINFUL for long periods.

The get rich quick scheme is for the very lucky few. The rest of us need build with smart choices, honest risk assessment, and a thorough plan.

The hard part is when you've dug a huge hole, the only way out (quickly) is the same game that got you into trouble in the first place.

Slow and steady hurts a lot more when you're just shrinking a giant red number that seems infinite when you're attacking it with nibbles. But it beats making the number even bigger.

WSB taking notice of POWL. Saw posts about it for the first time ever over the last week, and then even more today after they crushed earnings.

ProgN said:

---

CC09LawAg said:

---

Thank you not only for the recommendation but for checking in and keeping tabs and answering questions.

I will make some money off of this but in the 2 1/2 months I started watching and following this play I have learned a million lessons. I should've made a boat load of money but I'm going to be happy with the gains I did get and the knowledge gained.

---

I really do enjoy doing what I can for y'all and enjoy seeing everyone's success.

---

Just another word of appreciation, along with a middle finger to the folks that were whining earlier about POWL, SMCI, etc being down for a few days.

plowe32 said:

---

Hey Heineken, what's your current sentiment on SLV?

---

It's looking good. I'd like night monkeys to continue to push it higher. I want that non-overlapping lightning look all the way to $30+ followed by no lower than a 61.8% correction to follow.

Tomorrow will be crazy. If this pattern in both equities and metals keeps looking like 2007, SLV could get bullish very fast.

I'm keeping the bear case in my mind though. Market might try to obfuscate. Tomorrow futures roll and it's usually a volatile period.

El_duderino said:

---

WSB taking notice of POWL. Saw posts about it for the first time ever over the last week, and then even more today after they crushed earnings.

---

I hope WSB start playing in it, with POWL's small float and earnings almost 19% short interest it'd explode.

texags failed to do that with WWR

sts7049 said:

---

texags failed to do that with WWR

---

It actually skyrocketed for a short time before it cratered to all time lows. I think it got up around $10. I was stupid for selling enough to go net free, then rebuying as it started dropping. And again. And again. All the way down. Part of that was that I forgot I set buys at lows I didn't think it would actually hit.

Yeah, I'm stooped...

Yeah...