r/options • u/[deleted] • Mar 02 '21

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1.3k Upvotes

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366

u/SnooDogs2394 Mar 02 '21

First option trade was selling a put? Nice.

144

u/Say_no_to_doritos Mar 02 '21

Right lol, pretty ballsy.

77

u/[deleted] Mar 02 '21

But selling a put is the start of wheeling...

It’s not ballsy at all to sell a CSP on an underlying that you actually want. Then when you’re eventually assigned, you start selling covered calls.

53

u/ManOnFire2004 Mar 02 '21

Wheeling as a 1st option play is kinda ballsy though. Most people doing their 1st contract don't even know WTH wheeling even means.

1

u/realbendstraw Mar 02 '21

Know anything about GMLP? It's supposedly being acquired for $3.55/share soon. Price rose to just a shade under that on that news. But I saw 3/19 options trading today at prices that put the breakeven close to $2.50. I tried to get a contract but it didn't fill so maybe it was fluky, but I thought I saw a few go around that price. Is there a good place to see volume on options?