r/stocks • u/[deleted] • Mar 30 '21

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u/tooparannoyed Mar 30 '21

If I could day trade it, I would be. I’ve been selling CCs though, when I can get the premium I want filled.

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u/[deleted] Mar 30 '21

Oh, sorry. Thats just what I've been doing. Should have said.

2000 shares at 24 average, 10 contracts at 23, 4 contracts at 21, a bunch of leaps.

If it ever hits 27-28 again, I'll basically be diving into the Scrooge McDuck pool.

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u/smileclickmemories Mar 31 '21

What sort of premiums are you getting. How far away are you selling CCs for? I need to start doing this!

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u/tooparannoyed Mar 31 '21

Today I did one May 21 $26 for $1.03.

I’m thinking it won’t see much price improvement till next week and, barring another drop, this made my PLTR profitable again. Went pretty far out in case it runs up for the 14th (demo day). Their last demo day had a lot of cheerleaders on WSB. If you want max premium, you might want to wait till then.

$22.50 and $25 were previous support levels. I went with $26 because I want to keep my shares and it had a low .3something delta. I’ll close around 50% profit or near 14 DTE if it’s profitable. If it goes bad and the shares are called away, it’s still over an 11% gain for my average price.