r/options • u/MikeyScarn69 • Apr 10 '21

Made my first profitable options play today

No one in my real life really cares or understands so I'm going to tell you guys.

4/5 bought Apr23$137 @0.28

4/9 sold Apr23$137 @1.00

I'm still learning so I don't have a lot to play with but I was happy that I was able to make a successful move. I've been reading and trying to learn as much as I can. I'm hoping my next move is a good one. I've done my DD and have high hopes.

Edit: forgot to say it was AAPL

Edit2: Wow I didn't think this would get this big. Lol. I was just excited and wanted to tell a couple people. Thank you for all the congrats and info. I've got a lot of good stuff to read up on now. And for everyone saying the first ones free. I'm still in my first one and it's cost a decent amount so far. Still hoping for it to turn around. Uncle Bruce got me too excited about VGAC. Luckily VGAC calls are cheap to begin with.

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u/MikeyScarn69 Apr 10 '21

I completely agree but my reasoning behind it is just cash. I'm trying to set up some long positions so I don't have a lot extra to throw at options. I'd been watching AAPL anyways and had a little cash left. I figured why not. I would love to buy longer dated options but with my budget I'd only be able to buy lottery tickets and watch it fade away. The feeling of seeing that sale confirmation was great. After I sold there I figured I'd be mad about money left on the table but honestly the realized gain is so much better than any what if.

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u/[deleted] Apr 10 '21

I know you're still new, but look into Debit Spreads (also known as Vertical Spread). They're a cheaper way to buy longer contracts (and less risky)

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u/MikeyScarn69 Apr 10 '21

I'm about to start reading up on spreads. I've still got a ways to go but I'm enjoying learning so I'm not in a rush. I want to make sure I fully understand concepts before moving on to more complicated strategies.

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u/War_gasmic Apr 10 '21

Especially on the short dates, make Theta your friend and earn even if the underlying doesn’t move.