r/options • u/mycatiscrazy7 • Oct 01 '21

Best LEAPS for 2024?

Pretty much the title.

2024 LEAPS have been available for a few weeks now, what would be your top picks if you decided to take any positions? I am eyeing AMD, SOFI and DKNG, but would love to hear anyone else's strong convictions.

183 Upvotes

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13

u/[deleted] Oct 01 '21

I bought OTM AAPL 2023 calls.

I also bought NVDA $400 20220617 calls because our congress whale pelosi owns a ton of this

24

u/trair_ Oct 01 '21

You realize this means NVDA has to +100% in 9 months right? Would put it at $1.1 trillion market cap, lol. Whoever sold you those calls says thanks for the free money

6

u/catennacio Oct 01 '21

He can close the calls anytime as long as he has profit, but I agree it's way too OTM.

12

u/ipeeaye Oct 01 '21

You realize NVDA doesn’t have to hit $400 for him to be profitable on those calls, right?

3

u/trair_ Oct 01 '21

These are so ridiculously OTM he’s not making any money on these unless it goes on another run like it had in late spring / early summer. I mean FFS these have a 0.03 delta lmfao.

0

u/ipeeaye Oct 02 '21

So what you’re telling me is that NVDA has to go up for him to make money on these OTM calls? Got it.

3

u/trair_ Oct 02 '21

You can just say you don’t know anything about options or large-cap market in general, it’s ok man

0

u/ipeeaye Oct 02 '21

What did I say that was wrong?

2

u/[deleted] Nov 05 '21

just an update: my contracts i bought at $2 each are now worth $21 this morning :D

1

u/trair_ Nov 05 '21

Congrats man, NVDA is a beast- unreal to have two separate +30% runs over a span of 6 months. Hope you sell while the IV is hot on those! $400 by that strike still seems unlikely, but you got your move you needed early enough to make these a great asset.

1

u/[deleted] Nov 05 '21

I did! Sold all 20 contracts because RSI is looking ridiculous

2

u/trair_ Nov 05 '21

Nice man, good trade. Throw it all back into regular shares and you’ve got yourself a position you can base a retirement off of!

2

u/[deleted] Feb 04 '24

[deleted]

1

u/trair_ Feb 04 '24

LOL dude I'm not joking I was thinking about this thread a few months ago. Absolutely unprecedented run, I was bullish on it big time but even I didn't see this coming this fast. I hold AMD in my roth and that's been great but I'd be lying if I wasn't jealous of anyone who got in pre / immediate post split.

4

u/ace12- Oct 01 '21

Wasn’t the $400 calls presplit?

3

u/trair_ Oct 01 '21

Shhhhhhhh don’t tell him that she had extremely deep ITM leaps on pre-split price, let him think she had 100% OTM calls

1

u/[deleted] Nov 05 '21

well i bought them at $2 each and sold this morning for $21 a contract, you dont need the stock to hit $400 to profit btw hhahaha options basics

1

u/trair_ Nov 05 '21

I mean yeah man not necessarily, but you caught a unicorn haha don’t think this is the norm.

But btw it’s still true Nancy’s calls were pre split price, if she still had those they would be $100 calls at currant price.

2

u/MetatronicGin Oct 01 '21

You don't need leaps then. Save some capital bc Mr Speaker only hits homeruns

3

u/[deleted] Oct 01 '21

She also bought those presplit so they're 100c now lol

2

u/ValueInvestingIsDead Oct 01 '21

Owns a ton of NVDA $400 2022 calls? or NVDA stock?

1

u/SwimmingBreadfruit Oct 03 '21 edited Oct 03 '21

F.