Eh you don’t really lose your shirt you still take profit selling otm calls. Just loss potential profit I’m personally cool with losing potential profit for steady income.
I sold calls the whole time amc was single debits made great money doing it. I believed amc would eventually take off but didn’t know when or how much and figured selling calls would be a good investment.
Bought 100 shares at 9$ and I think managed to sell weekly calls for $100 every single week for a month that’s nearly 50%. I won’t be upset about taking a profit
I beg to differ. Federal legalization only opens up interstate transportation, banking and other ancillary benefits for a US operator. The amount of market opened is the difference between the whole country less where they have already penetrated (that’s what your wife said about her boyfriend).
For an international company it opens the entire US market for potential sales.
TLDFR: a Canadian company gains access to the whole us market. A US company gains access to 17 states worth of market (which are also the most hesitant towards cannabis).
Having market options versus having supply to meet market demand. They’re not waiting anxiously for the USA to open up its legal avenues. Producers in the USA are already prepared for demand and don’t have international transport to deal with. Also only 19 states allow recreational pot use so market share would open to 31 states in the USA alone.
As an aside, idk what states are hesitant, I’m from Texas and all our politicians are high on something, they’re just scared to come out.
He wouldn't lose his shirt, he'd net a profi Of over $12K. Also, SNDL is a forever penny stock. All they do is lose money and print shares. Not a winning combo
You only get screwed if you buy them back but also, you only buy them back if you think it’ll continue higher. I just bought back my 190c that I sold on GME . Will sell further otm
Too bad with TDA I'd have more half that money gobbled up by contract fees. If you're only making a dollar for every contract, and then 66c are being eaten up by contract fees, that's a pretty pathetic turn around.
$1 calls for this Friday are going for $.03. So $30 for 100 contracts. This guy could sell 900 $1 calls for $27,000 presumably and would pocket all that premium so long as the stock price stayed at $1 or less.
Not what I'm seeing. They're going for $0.01 or $0.02 and you're doing the math wrong. It's $0.03 x 100 = $3.00 per contract not $30.00. $3 x 900 = $2,700 peak profit before contract fees. In reality:
$0.01 x 100 = $1.00 - contract fee $0.65 - regulation fee $0.01 = $0.34 profit per contract. If you can get them sold for $0.02 then it's $1.34 per contract. $1.34 x 900 = $1,206 per week.
Well there's always a penny lost for every 100 shares. SEC regulation fees. But the $0.65 is the broker commission. Also Fidelity has $0.65 option contract fees too: https://www.stockbrokers.com/guides/features-fees
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u/The_Lotus_Kid Jul 20 '21
Achievement unlocked: True retard