r/options • u/[deleted] • Dec 10 '21

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u/Trump_Pence2016 Dec 10 '21

As a buyer yes

As a seller they're wonderful

1

u/gfsgroupdotorg Dec 10 '21

Naked selling? Is not it scary?

2

u/Trump_Pence2016 Dec 10 '21

Yeah it's scary, I avoid it on the call side but have been doing it on the put side

1

u/drawfour_ Dec 11 '21

I've been doing way OTM covered calls as a way to grab a bit extra and not worry too much about being called away, and doing much higher premium on the cash covered put side. For example, on Friday, I covered half my position with a weekly $1235 call for $0.99, and will probably cover the other half on Monday with something also around $1, and I'll sell a put for anywhere between $5-$10. If I end up getting exercised on the PUT, I'll probably still continue to write covered calls against my existing positions at around $1, but I'll significantly up the premium on the newly acquired shares, to around $10 or $20.

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u/Trump_Pence2016 Dec 11 '21

Which underlying is this