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Old 05-19-2020
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Default Any options traders here?

I mostly buy and hold equities.

Lately I'm getting into options trading which can be very profitable I'm learning.

I'm usually pretty good at spotting patterns and predicting outcomes so this is a natural fit I'm finding.

Any traders here ?
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Old 05-19-2020
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Default Re: Any options traders here?

For me, options not so good deal. High premium at initial price, and it expires worthless? Make sure to never ever write naked calls, I've seen people lose 50,000 dollars in a blink of an eye, literally within 10 minutes. It happened when fed chairman Alan Greenspan back in the day, unexpectedly announced a rate cut in the 1990s, during option expiration. There was a fellow that wrote naked calls everytime at the end of expiration, sounds simple right? Write the contract, collect the premium wait for it to expire and pocket the money, then boom! Rate cut! Stocks go flying, u need to cover your shorts at high prices, you're f*cked, 50,000 dollars poof, in 10 minutes.
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Old 05-19-2020
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Default Re: Any options traders here?

I would stick to buying calls or puts because there is a ceiling to your loss (the premium) whereas selling calls or puts there is no ceiling? At least thats what I figured? I'm reading up on options at the moment.
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Old 05-19-2020
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Default Re: Any options traders here?

Yea selling naked calls, limit profits, unlimited loss, selling naked puts, limit profit, limit losses, though losses can be huge. 90 dollar stock, writing put, stock can only go to 0at absolute worse scenario, so about 90 points or so maximum loss.

Selling calls, stock can theoretically go to infinity, so losses can be infinity.
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Old 05-20-2020
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Default Re: Any options traders here?

I see, yeah I'll stick to buying calls/puts for now and when I get more educated I'll gamble with selling calls/puts.
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Old 01-25-2021
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Default Re: Any options traders here?

write cover calls and cover puts,say you have 100 shares of FB ,your cost is $120.
write cover calls strike 325 expiration 1/29/21.
FB closed at $278 today,earnings Jan 27,if it is good ,it will go up,if it goes higher than $325 on Friday 29th,it will be called .
if not,you keep the stock and the premium
You have to know how your stock behaves,would FB goes over $325 on Friday?
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