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#13981 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $631900
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Here we go.
TIMBER!!!! |
Posts: 46,016
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#13982 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1024734
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Posts: 57,553
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#13983 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1481110
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I made $26,700 in 3 days this week with APPL call options that I sold Thursday and Friday. I would have made another $80,000 if I didn't sell them so damn early. I bought 250 puts in AAPL that expire this Friday and think I may have a good Monday.
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() Last edited by scho63; 04-13-2024 at 02:59 PM.. |
Posts: 51,585
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#13984 |
In Search of a Life
Join Date: Jan 2016
Casino cash: $1580400
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Monday could be quite ugly with the ME situation going on...
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Chiefs are my favorite football team of all time! |
Posts: 27,355
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#13985 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1481110
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I hope so......
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
Posts: 51,585
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#13986 |
In Search of a Life
Join Date: Jan 2016
Casino cash: $1580400
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Yep, depends on what happens with this attack, if it's mild saber rattling, the market might actually do ok. Anything else and it's probably going to get hammered.
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Chiefs are my favorite football team of all time! |
Posts: 27,355
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#13987 |
Veteran
Join Date: Oct 2002
Location: Bismarck
Casino cash: $1058196
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I'm swinging some SPY puts over the weekend so I'm hoping to cut loose first thing Monday morning if those knuckleheads in the ME keep bombing each other.
That's a hell of a week you had on Apple calls. I don't trust myself to let my profit get that high on options. I get up anywhere past 10% and it makes me too nervous to hold. I had a load of 0dte puts last Friday I sold for a 30% profit, where if I would have held it would have been over 300%. I'm still new to options but I'm learning more every day, and reading everything I can about it. I think I enjoy trading options more than stocks, but man it's easy to blow your account if you don't have a plan. I've found that you gotta have a plan and you gotta stick with it. I've gotten lucky a time or 2 chasing a call or put, but more often than not it's caused me problems. And one bad day doing stupid shit will set you back weeks. So, knowing that I'm not the best trader, and knowing I don't have the ironclad willpower to not do stupid shit, I moved the bulk of my playing around trading money out of my Webull account and put that into my Vanguard account (which is not for day trading), and only kept 2k in to trade options on Webull. It's not much, but it's what I had to do to force me to start making smarter trades and it keeps my wife happier. Plus, it helps me find better entries on trades since I've got such a small account and I can't do unlimited day trades. Hopefully one day I can get a nice week like yours, but until then I'm just going to concentrate on one good trade at a time. |
Posts: 1,262
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#13988 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1481110
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I sold my AAPL calls, pushed out my peacock feathers and had my buddy tell me what a great trade and then I watched it go up another $80,000.
Just when you think you are real smart, the market smacks you in the face and tells you that you're not as smart as you think you are. About the 3rd time in 5 years I left more than $50,000 on the table getting out early. It's a reflex action from so many times riding a quick winner longer than I should have and not only giving back large profits but losing all my principal.
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
Posts: 51,585
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#13989 | |
In Search of a Life
Join Date: Jan 2016
Casino cash: $1580400
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Quote:
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Chiefs are my favorite football team of all time! |
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Posts: 27,355
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#13990 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1024734
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Quote:
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Posts: 57,553
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#13991 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $631900
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What size trade was that to start with? I am getting more into options and it's crazy how those premiums swing when VIX is high.
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Posts: 46,016
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#13992 | |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1481110
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Quote:
I normally don't invest that much in one option trade but I am using the markets money.
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() Last edited by scho63; 04-14-2024 at 06:44 PM.. |
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Posts: 51,585
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#13993 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $631900
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Any options spread traders here? Seems like that may be a higher percentage play with a determined down side risk (nothing naked). You won't see the huge gainers but pretty common 10-20% without the infinite risk to the downside.
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Posts: 46,016
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#13994 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1481110
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I can't believe the week I have had. Winner after winner, both calls and puts. The only negative is I left a LOT more money on the table by selling out early, close to $110,000 total of additional profits.
Best week of my option trading life. $35,711 banked profits. I have 260 PUTS left as my only open position in SHOP (Shopify) for $65 strike that expire this Friday. Paid .15 ($15) and closed at .29 ($29) The chart on SHOP looks real week and I just saw an article yesterday a day after I bought them about a lot of professional put buying on SHOP. Hoping to see options hit $1 ($100) a contract.
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
Posts: 51,585
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#13995 |
Starter
Join Date: Aug 2019
Casino cash: $2455671
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For you option traders, any advice how you got started and avoid anything stupid that pisses away your money?
Also, I assume any gains are getting taxed at the short term rate unless in something like a roth or does some other tax situation exist when trading options? |
Posts: 505
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