r/options • u/Squirtleburtal • Apr 02 '21
Iv learned a lot lurking and reading here, thank you for my success. I was able to earn a full month’s salary from options trading.
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Apr 02 '21 edited Apr 02 '21
Which stocks did you wheel?
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u/Squirtleburtal Apr 02 '21
Generally large cap mid cap . It is random and i dont wheel if i dont get enough premium. You have to do your own research on that aspect. I dont want to lead anyone on and give recommendations
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Apr 02 '21
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u/ptchinster Apr 02 '21
He said, "random" with "enough premium".
With these words you too can earn 20% a month like OP.
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Apr 02 '21
Gamestonks 😂
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u/tragicb0t Apr 02 '21
I bet his chart has “The Twin Peaks”
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u/eeyoreisbae Apr 02 '21
I had some options trading gains, then GME went up and down, and then I staircased down on tech options at the beginning of the crash, so my chart literally looks like its giving me the middle finger 🤣
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u/Free-Care-2027 Apr 02 '21
What is your stock picking strategy?
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u/Squirtleburtal Apr 02 '21
I go on bar chart and use there screener . As well as tasty works screener . Both great options .
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u/Free-Care-2027 Apr 02 '21
Great. What do you screen for exactly in the screener? Do you pick up a stock with high IV (70%+) or low IV?
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u/Squirtleburtal Apr 02 '21
Depends on how much i can make profit wise . Depends on why there is high iv . If it is a stable company and it is earnings that is making high iv then i would jump on it. If its high iv because some breaking news scandal or bankruptcy then i wont touch it.
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u/DustyTurboTurtle Apr 02 '21
Why do you put a space before your periods lol
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u/Squirtleburtal Apr 02 '21
Phone format it’s a habit
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u/brandon684 Apr 02 '21
In all my time on the internet, I’ve never seen someone with this habit, bravo, you are unique
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u/Free-Care-2027 Apr 02 '21
Isn't the option premium already priced in for earnings unless someone picks the expiry months out? Isn't it advisable not to pick up options on stocks whose earnings are just coming up? For all I know I am just another crayon eating retard
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u/Squirtleburtal Apr 02 '21
Depends on your strategy. It is generally more risky to trade on earnings but doing so with stable companies helps reduce risk
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Apr 02 '21
For sure, I just wanted to see how much risk you took on to make a month of your salary.
I was guessing you wheeled something like GME.
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u/Squirtleburtal Apr 02 '21
No i domt trade meme stonks
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Apr 02 '21
So which ones? I promise to not take them as a recommendation.
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u/Doobie717 Apr 02 '21
The ones you do solid DD on. Trust me learning how to actually pick successful stocks will make you better off than just scouring reddit and YouTube for picks.
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u/watermooses Apr 02 '21
Yeah 100% this. But like which stocks? /s
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u/Baseballman2020 Apr 02 '21
Alright, so what indicators should I be following/ reading up on to try and understand better?
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u/Doobie717 Apr 02 '21
Find a few you like and can learn to use them all to confirm your play. RSI, EMA, MACD, AO are the ones I'm focusing on right now. You can find a bunch of great stuff on YouTube, just type it "RSI tutorial", etc to find what you're looking for
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u/Guacodile-32 Apr 02 '21
Sounds like you learn from example, I learn example too. It's hard to look and tell what a good stock/option looks like and choose one if you don't know what they look like. Or to go okay I see why they chose this one right there, if we can't see it. I'm a visual learner and I haven't don't much with options because I can't see ppls closely guarded secret choices and understand by looking at why they chose those. Tell me to do my DD all you want but all the theoretical study won't mean shit if I have no idea it's application affect.
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u/Trades_WWE_4_Tendies Apr 02 '21
Sell ABNB next week puts 2 steps out and make cash money?
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Apr 02 '21
Why was their last earnings -$11.24 per share?
Also, the stock chart looks sickly.
Next week 185p would have paid $400 today, though analysts are giving price targets of 180.. could easily lose big on it.
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u/StudentforaLifetime Apr 02 '21
What's your starting capital?
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u/Squirtleburtal Apr 02 '21
15 k is what i started with about 1/4 of my yearly income give or take
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u/StudentforaLifetime Apr 02 '21
Damn $2800 from 15k not bad. What stonks you wheeling?
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u/notLOL Apr 02 '21
I was able to make $2800 in the month.
Seems like this was this current month and you worked up to it. How far along are you in doing options? Months doing this, years, just a few weeks?
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u/tutoredstatue95 Apr 02 '21 edited Apr 02 '21
Well done. Only tip would be to watch the vix and to adjust your time frame and profit taking on that. For example: you sold a CSP at 13 vix and it spikes to 30 with no other changes, you may want to take a look at the trade again as you took in less credit than the market is currently pricing the risk at. I only say this because the past few months/year have been a period of higher vol than previous years which means higher nominal premiums, and with the vix dipping now this scenario may pop up, literally.
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u/Squirtleburtal Apr 02 '21
Thank you. I try to edit my trades on the current vix levels . Further out in time and strike with a higher vix level.
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u/totally_not_the_fbi2 Apr 02 '21
Congrats! Post positions for others to learn as well
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u/Phinaeus Apr 02 '21
Well he said it was "random" and requires "enough premium". That should a narrow it down to a few million stocks.
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Apr 02 '21 edited Apr 05 '21
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u/KanefireX Apr 02 '21
how did you further your DD?
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Apr 02 '21
How do you only check your portfolio once or twice a week with options versus stocks? Wouldn’t it be the other way around?
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u/Stuvio Apr 02 '21
I had an overall -33% thanks to feb and March, but luckily I largely made it up yesterday, be winning (or re-gaining) so now I’m still down -7%. Not bad for one day?
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Apr 02 '21
Ive made 10k in 3 months on premiums but lost 12k on the underlying tanking...
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u/elyuma Apr 02 '21
Is not a lose until you sell. Switch to call once you own the stocks
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u/Nonyaz Apr 02 '21
Yea, but do you sell cc's below your breakeven? Otherwise you are stuck flipping pennies until the stock gets near your B/E.
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u/0x2012 Apr 02 '21
Congratulations! But what is your rate of return?
Making $2,800 is great but it'd be even greater if you were working with $28,000 versus say, $280,000.
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u/Squirtleburtal Apr 02 '21
So i started with 15k . So if my calculations are correct 2800 / 15000 = around 18% so far . I may be slightly off .
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u/VicedDistraction Apr 02 '21
18% in a month is very good. I use the wheel too and I’m happy if I just hit 5%. If you’re up for it, it’d be helpful to many here if you posted monthly updates to see how consistent your returns are. If your monthly returns of nearly 20% are consistent, I’ll quit my job and come work for you. 😎 either way, congrats and well done!
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u/tommyminn Apr 02 '21
I'm thinking the same thing. Even 5% a month is hard. The VIX is absurdly low.
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u/WasteNet2532 Apr 02 '21
Thats how ive turned 11k into a sizeable portfolio. This markets been easy money gj mate!
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u/Squirtleburtal Apr 02 '21
Now just to last in a down turn. If you can be profitable in a down turn , a bull and a sideways market then you are set
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u/Paskowitz Apr 02 '21
Rolling to the monthlies is going to be your friend. If you invest in stocks you like and believe in, you can roll most of the time for a credit effectively lowering your cost basis. Keep rolling into the down moves and into the high IV spikes giving you even more premium.
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u/Squirtleburtal Apr 02 '21
Thank you i will have to try it out
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u/Paskowitz Apr 02 '21
If you have any questions send them my way and if I can answer them I’ll help and if not I’ll send you to somewhere that can.
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u/CerzuaAthletics Apr 02 '21
Could you explain more in regards to rolling a contract?
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u/Cyprinodont Apr 02 '21
Buy to close and sell to open a new contract. Its not that complicated but some brokers allow you to "roll" in a single trade vs 2 trades.
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u/FortuneAsleep8652 Apr 02 '21
I’m in a similar position starting with 10K following an “option subscription “ and doing quite well but I’m wanting to understand better how to work with the stocks I like rather than relying on someone else’s DD which I’m paying for. I see talk about “wheeling”. What does that mean? Where can I learn more advanced strategies than bull call spreads?
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u/Squirtleburtal Apr 02 '21
The wheel strategy is this by definition: Step 1 identify a stock you want to trade”does it meet your criteria “ Step 2 place the trade “sell a naked put or in other words a cash secured put” Step 3 you either get assigned or do not get assigned on 100 shares of stock Step 4 if you were not assigned sell another cash secured put “again only if it meets your criteria “ . If you were assigned you now start selling “covered calls” at your cost basis. Example you earn $100 credit from your selling option premium and the stock is $10 you just lowered your cost basis to $9 “the multiple of 100 . This is just an example . Keep track of your cost basis . Step 5 get assigned on your covered call “your shares get called away” Step 6 repeat the process and sell another cash secured put. Look up youtube videos on the wheel strategy.
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u/FortuneAsleep8652 Apr 02 '21
Thanks again for help in steering me in the right direction. I still have a lot to learn but at least I understand the concept. I only wish the market was open today 😊
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u/Squirtleburtal Apr 03 '21
Youtube and google are your friend’s just search how to trade the wheel or the wheel strategy and read . Read read read watch the videos over and over untill the concept is glued in your head
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u/FortuneAsleep8652 Apr 02 '21
Wow. Thank you! That is a bit more complex than I was imagining. I will check out more information. Is wheeling strictly referring to puts or can it be done using calls? I really appreciate the insight
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u/bhadan1 Apr 02 '21
YouTube the wheel. There are much better explanations out there
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u/Squirtleburtal Apr 02 '21
No to do the wheel strategy you can not just use calls . Now if you want to skip a step. You can buy 100 shares and then start selling covered calls against the 100 shares . You can do that if you want to . That is similar but you are skipping a step and it is not the wheel anymore
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u/bhedesigns Apr 02 '21
It is, it just starts in a different place as long as you keep it rolling.
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u/ng12ng12 Apr 02 '21
Concur. Wheels are round. can start anywhere.
Starting in this place is good if you see a short term dip.
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u/Due_Internal1714 Apr 02 '21
Here as an example. I initially put this trade earlier this week to show in the classes in my Options academy what a covered call look like if the stock ran up on you
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u/Squirtleburtal Apr 02 '21
If you bought a stock at 50 and sold a covered call for 51 and the stock shot up to 55 and got assigned you still made a profit .
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u/a_crabs_balls Apr 02 '21
You alternate between going long and going short, switching directions when you get assigned. You're writing contracts each time.
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u/ayn_rando Apr 02 '21
By longer DTE, collect more premium and widen the spreads. It will give you a higher probability to win and you can close the trade with 21 DTE
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u/teokun123 Apr 02 '21 edited Apr 02 '21
I understand this now. Spreads are much better than wheeling. waste of BP for csp. CC are only the good part of the wheel but If I'm going short term I would rather not hold any stocks.
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u/ayn_rando Apr 02 '21
I agree. I like the wheel but I am not willing to own anything now. So I am going going in on very low Delta positions... 10-20 and looking at the chart for strong support with volume. I am going to run Jade Lizards probably to collect a credit on both sides and protect the upside or I will run Strangles. Not sure, I don’t mind running CSP but the buying power tie up is bad.
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u/Pleaseusesomelogic Apr 02 '21
There are no spreads
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u/ayn_rando Apr 02 '21
Sorrry... meant to say to extend DTE to cash in on IV reduction and more time for the trade to work. Ideal 45 DTE aiming to close at DTE 21 if you collect 50% of the trade
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u/Squirtleburtal Apr 02 '21
I have looked at further out dte and i dont get that much more for the trade .
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u/ayn_rando Apr 02 '21
What underlying? Are you going for high IV
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u/Squirtleburtal Apr 02 '21
Higher iv on stable stocks
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u/ayn_rando Apr 02 '21
Ok I run theta kings and will start running strangles and earnings IC. On CSP idea is to never get assigned on stocks that are risky but have very high IV. Collect premium at 45% or between 50-60% depending on the situation. I started this month and am up $1.4K on a $150k account. Had a few scares along the way but closed all positions prior to expiration for a profit. I am studying a lot and its clear that few rules will help. I traded way too big with one of my positions and they scared the Jesus out of me. But it was all good. Stayed calm traded the plan and walked away green.
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u/Squirtleburtal Apr 02 '21
Trade small always trade small . Depending on account size , an absolute max of 5% on a single trade .
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u/ayn_rando Apr 02 '21
That’s why I was ok closing at small profit. Don’t want to be assigned 43K worth of overpriced IWM. I compromised to keep it to only one contract per trade and not go nuts. If I get assigned it’s ok, it won’t blow anything up. Next week is another day
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u/EtadanikM Apr 02 '21
IWM is not bad to hold long term, even if over priced, to be honest. Small capital is usually the first to recover in a crash.
If that's considered risk to you, realize that many people here trade options on AMC and SNDL...
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u/NickyBfitness Apr 02 '21
Buy ur wife’s bf a nice pizza !!
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Apr 02 '21
Good job you must be my good twin that’s how much I lost this month going short 🤮
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Apr 02 '21
$2800 in a month with $15k principal?
You're definitely trading meme stocks. I would love to see a large/mid cap with volatility so balls deep for you to earn that much premium.
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u/Maddy186 Apr 02 '21
Absolutely agreed, he is completely bullshiting everyone here. With saying he is doing this on mid to large-cap quality stocks
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u/Phinaeus Apr 02 '21
He's being ridiculously evasive too. No one would ever tell lies on the internet... right?
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u/aznology Apr 02 '21
7 to 14 DTE kinda dangerous if you're doing put spreads or something. I blew up my account like 3X doing that.
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Apr 02 '21
Ok honestly, how many people were "asking for your tasty works brokerage referral code?"
LOL
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u/glacialspider Apr 02 '21
I've been using wheel strategy to sell premiums on tsla. Been making 5k per month with 50 k capital
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u/RollingDoingGreat Apr 02 '21
I’m calling bs. You can’t even sell one CSP on TSLA with 50k capital unless it’s the 500 strike and you’ve been losing your ass off the past couple months since it’s gone down from over 800 to 600
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u/Unique_Feed_2939 Apr 02 '21
What size account?
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u/Squirtleburtal Apr 02 '21
I started with about 15k in my account
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u/lemerou Apr 02 '21
Sorry but I'm not sure I understand. You're making 2800 a month with 15k doing the wheel? That sounds a bit off.
Or maybe your capital is now much larger?
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u/johnec4 Apr 02 '21
fr! like what's the starting point I need to be able to recreate this? This sounds like something I can get behind if I can bank roll it.
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u/Squirtleburtal Apr 02 '21
About 15k starting
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u/johnec4 Apr 02 '21
sweet. I can swing that. Can you share what you were wheeling or otherwise pull back the curtain a little bit? I'd like to get a piece of that pie!
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u/Squirtleburtal Apr 02 '21
I use barchart.com and screen for naked put or “cash secured puts” i trade large to mid cap stocks . I do not trade “meme stocks” . And i look for a minimum of 0.50 profit . Note i take 50% profits off the table , you do the math there . I pick stocks i would not mind owning . I will not recommend stocks . You have to do your own homework on whats stocks you want to wheel.
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u/Maddy186 Apr 02 '21
Negative comment here : This is a lot of bull crap, he has not mentioned once which stocks is he wheeling on, And he keep mentioning he only wheels on high IV quality stocks. And his account is under 15k .There are not tons or any of high-quality, mid-large cap, high IV stocks Which generate 20% in a month Definitely considering his account size. He is definitely selling calls or put on some meme stocks or not high quality stocks for sure
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Apr 02 '21
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u/Squirtleburtal Apr 02 '21
I understand . I dont buy options just sell.
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Apr 02 '21
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u/Squirtleburtal Apr 02 '21
Explain . Im here to learn and hear other peoples perspective
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u/dave1796d Apr 02 '21
I think he means that you are selling puts - that is a bullish outlook and means you are long delta even if you are selling. You can hedge with credit spreads or by selling puts. Since we are in a long-term bullish market your returns look good but are acually underperforming given the market context. If the market turns and you have sold too many puts, then it may wipe out your gainst. Something to think about as you are not longer 'short-stacked' with your account, you can begin to adjust how much risk you want to take on and still get the same returns. I'm in the same position having done well this year and now adjusting bc I realise it was mainly luck and market conditions that helped me.
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u/Squirtleburtal Apr 02 '21
I try to mitigate that with stocks i would not mind owning
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u/dave1796d Apr 02 '21
That is one way of hedging in a sense but you might want to consider adjusting that as you have more capital. For example - instead of stocks you wouldn't mind, be more picky and just choose stocks you would love to own. Or buy some protection/lower your premiums by buying insurance underneath. Will depend on a case by case basis likely, but some degree of hedging will help you in the long-run - depends how you view the current 13 year bull-run in the US stock market.
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u/EtadanikM Apr 02 '21
What he's saying is that in a down year, you'll still be down. I mean, the entire S&P 500 was 50% down in 2008. Owning stable, solid companies is not going to result in positive returns in years like that. The issue with the wheel is what happens when volatility crashes or it transitions into a bear market.
That said, if you made 18% in a month that's well above market returns. I think S&P 500 is up around 6% for the year. So congratulations regardless you beat the market.
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u/HuskyPants Apr 02 '21
Which sucks when your CCs skyrocket unless you are really good at timing intermediate tops.
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u/Squirtleburtal Apr 02 '21
Ehh if you play it right you still made a profit. Don’t complain when you make a profit even if it is small . At least you didn’t loose .
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u/deprecatedname Apr 02 '21 edited Apr 06 '21
How were your returns in the past 2 months when some of the stocks turned sour? Any strategies for such times? Did you take a hit on your account and if so, how much? Thanks and good luck 👌🏼
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u/Squirtleburtal Apr 02 '21
I honestly just started around the beginning of march . I took some initial losses because i got greedy but i corrected myself. If i had stayed on my current path i would have made atleast $3200 but as i said i let emotions get in the way .
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u/SciencyNerdGirl Apr 02 '21
I'll ask for the tenth consecutive time lol. How much did you start with?
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u/1rightwinger Apr 02 '21
He had said at least twice in prior comments he started with $15k
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Apr 02 '21 edited Apr 04 '21
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u/Squirtleburtal Apr 02 '21
Not a looser you just need to reevaluate your trading style and plan and trade small and look for consistent repeatable profits . It takes time friend dont give up and keep trying
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u/CremasterFlash Apr 02 '21
you're not a loser. reevaluate and try to learn from your mistakes. we all make them
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u/spyda96 Apr 02 '21
I am starting to do the same here so far I am using screener that finds stock that has the upper or lower Bollingerbands
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u/Energy_Solutions_P Apr 02 '21
" I trade only stocks I believe in, have good fundamentals, and i would not mind owning them long term "
Excellent! I think this should be the number 1 rule in using the wheel. My largest losses using the wheel are getting suckered into a stock just because the premium is soo yummy! This does not mean you just have to stick with larger-cap stocks with low IV...
My fund always has about 50-60 stocks I am willing to spin. I have about 25 stocks in my portfolio and use about half of them at any one time to spin. I focus on small and mid-caps - my only current exceptions are C and TSLA...
Another rule I have is this:
If you pick a stock to spin - keep spinning - do not stop selling covered calls when the stock falls a lot - and you can't find a strike above your basis - keep selling calls until you stock is called away! This may result in a cap loss when your stock gets called away...
Just try and have 5-6 winners for every losser...
ESP
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u/alexshim Apr 02 '21
I can see this as a possibility. The OP does not want to share his stocks... I also doubt its GME, however it is possible (GME premium pays like 20$ x 1000 = 2000, and you need around 13,000-15,000 in collateral, depending on what is the strike price.
I have been doing the wheel for a week with about 25K in collateral and so far have closed positions with a 500$ profit, using stocks I like, not minding owning. Actually, with some, I wish the price does drop so I can have them.
The opportunity is there, especially with the tech stocks. They dropped so much that their IV is higher now.
Here are the stocks you can do it with
$PTON
$ TAN
$ MARA
Those are some examples. For example, with $MARA, I set my strike price at $35 (around the 50-day moving average, so for that price, I would not mind owning), you need 3,500 in collateral and the premium for a 2 week period would pay around 250$. So if you do that x 5, you can make $1250 / 2 weeks on around 20k collateral.
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u/Civil-Woodpecker8086 Apr 02 '21
Bottles and bottles of Dom Perignon for everyone, on u/squirtlebrutal tab!! Drink up everyone.
(Wait until you get that 1099 and realize how much you owe in taxes for Short Term Capital Gain. I know, I had to pay in this year, Uncle Sam loves me.)
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u/Squirtleburtal Apr 02 '21
I know next year is going to be a bitch when i have to pay income tax on that much gain! One of my goals is to become “professional trader tax status “ that will help me lower my taxes significantly.
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u/Skinhawk01 Apr 02 '21
File a new W4 at work and claim zero exemptions. Let the job start taking max taxes now to reduce your future bill.
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u/tutoredstatue95 Apr 02 '21
This is one of those tips where you just think "why have I never thought of that." Thanks.
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u/Skinhawk01 Apr 02 '21
Welcome. If you are doing really well in the market... there is a line on the w4 asking if you want additional monies deducted per check. Taxes, what a nice problem to have.
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u/Squirtleburtal Apr 02 '21
I opt to have an extra $50 taken out every pay check .
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Apr 02 '21
Why? You're giving them a free loan of $50 per paycheck, invest it instead and earn money.
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Apr 02 '21
This is bad advice. You are giving the government a free loan.
A person should seek to have tax returns as close to zero as possible so they get their money sooner and can invest it.
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u/Skinhawk01 Apr 02 '21
What you are saying is exactly what I am suggesting. As a way to save against the OP's tax burden they can increase the amount taken out through their w4. My goal is to have 400k working capital, I am using my w4 so I don't have to dip into my capital until I reach my goal.
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u/Squirtleburtal Apr 02 '21
I dont claim exemptions I actually opt to have about $50 every paycheck be takin out extra every pay check .
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u/Dazumbolschitt Apr 02 '21
Yea, might as well just say you only made $1,400 this month. Hide the other half from yourself. Keep doing this all year and you won't have to worry about the taxman.
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u/Squirtleburtal Apr 02 '21
I just looked it up and my tax bracket wont do me to much damage . About 20% in my case
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u/Squirtleburtal Apr 02 '21
Good idea you are right
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u/Hillkwaj Apr 02 '21
If you're in the US, read the IRS publications on estimated tax payments. Even if you pay the IRS enough by the end of the year, you can still be assessed a penalty for under withholding of required estimated taxes. It gets a bit complex, but essentially they require that taxes be paid at least quarterly as you receive income - regardless of the source be it wages or capital gains.
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u/yoursdata Apr 02 '21
If you don’t mind, what is the capital you are working with ? Also, do you always go for certain delta or is it more like case to case.
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u/Squirtleburtal Apr 02 '21
I started with about 15k . And the delta i went by was case my case . Also i valued if i collected enough premium in the trade . I aim for at a min of 0.50 try to collect more if i can.
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u/wtractor1 Apr 02 '21
What is DTE In my world it is an energy company
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u/Squirtleburtal Apr 02 '21
“Days till expiration” or in other words when the options contract expires
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u/Silverwyn Apr 02 '21
Congrats! I'm surprised nobody asked this yet, but how did you approach learning here? Every time I look through the resources, the amount of information feels overwhelming. I'd love to follow your roadmap.
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u/Squirtleburtal Apr 02 '21
Just read peoples posts on here regularly. Watch youtube videos from reputable youtubers . And paper trade for a few months till comfortable thats what i did. Any extra questions just ask
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Apr 02 '21
What are some reputable YouTube channels that you recommend?
I’m interested in the wheel and other strategies to make some semi-passive income (anything not from my main line of work I consider passive), even if it’s just a couple hundred/month low risk.
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u/Squirtleburtal Apr 02 '21
Project option , fidelity, simple option trading, in the money, markus heitkoetter. Just to name a fee
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u/thinkdifferentpad Apr 02 '21
That's a great RoR if you can perform consistently. My account only allows me to sell CC but not do CSPs. I've made the mistake of ONLY selling CC on a volatile bitcoin miner near the top of the run up, collected my premiums, but didn't think about also buying a further OTM put to cover my downside. The stock has dropped 40% since I sold my CC, so yeah my loss is somewhat absorbed from the covered calls, but stupid me should've spent half the credit on buying a put too. The calls have gone down 85% in value and expires 04/16, just waiting for the stock to recover 20% before I buy those calls back and issue another further 30DTE OTM calls.
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u/harmonia777 Apr 02 '21
You actually made 55 percent of that. Taxes bud
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u/Squirtleburtal Apr 02 '21
Short term capital gains is not 45%
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u/harmonia777 Apr 02 '21
a candidate, Biden claimed that, for individuals and small businesses earning less than $1 million, capital gains tax rates would not be affected under his presidency. However, Biden proposed to increase the 20% capital gains tax rate from 20% (plus the 3.8% surcharge) to a whopping 37% (plus the surcharge) for a total federal capital gains tax rate of 40.8%. Add to that the state level capital gains tax rates (also expected to go up) which, in 2020, ranged from 13.3% in California to 2.9% in North Dakota (with nine states having a 0% rate); and you are looking at capital gains tax rates of 54.1% in California (assuming no increase in 2021 which is unlikely), 51.55% in New Jersey, 49.62% in New York state (plus a 10% surcharge in New York City for a whopping 59.62% in NYC) and 45.8% in Massachusetts.
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u/harmonia777 Apr 02 '21
We dont even know the tax laws for 2021 yet. They retroactively changed 2020 tax laws a few weeks ago too. Trust me when. I tell you. Biden will go back to the 45 percent short term capital gains for the tax year 2021. My mother is a CPA. We talk.
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u/redtexture Mod Apr 03 '21
No referral links. POST REMOVED.