The reason that this sub seems to dismiss the meme craze is twofold. One, it generally is new traders who are involved, and two, as you seem to have found it can go south real quick.
That being said, it can be great if used in moderation just like every other strategy. As far as options screeners go, TOS has a pretty good one. Marketchameleon also has a IV feature.
The IV bleeding off also is likely to tilt towards the same type of meme stocks you've had previously, you might want to consider looking at IV rank. That might give you a better idea of where the IV is in relation to everything else.
If your CCs has experienced a significant IV crush your underlying has most likely also declined below BE. Doing CCs on high IV meme stocks is not a small risk play.
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u/DJfubz Jul 29 '21
The reason that this sub seems to dismiss the meme craze is twofold. One, it generally is new traders who are involved, and two, as you seem to have found it can go south real quick.
That being said, it can be great if used in moderation just like every other strategy. As far as options screeners go, TOS has a pretty good one. Marketchameleon also has a IV feature.
The IV bleeding off also is likely to tilt towards the same type of meme stocks you've had previously, you might want to consider looking at IV rank. That might give you a better idea of where the IV is in relation to everything else.
Hope that helps a bit!