Posted by jtsurfah on 10th of Jun 2021 at 04:10 pm
Not sure if I should share this but I have been killing it
selling out of the money, short dated spreads to newbie Robinhood /
WallSt Bets options traders lately. Mostly put spreads. E.g.
CLOV short dated options have insane volume today and it doesn't
seem like the people on the other side have any idea what they are
doing. My "win rate" is tempting me to go bigger, but keeping
position sizes very small because it seems like it will have a bad
ending...eventually. For now it's like taking candy from
babies.
Posted by jtsurfah on 10th of Jun 2021 at 04:22 pm
CLOV June 18, 13/12 put spread sold right before the close for
$48 per spread. $48 profit if CLOV above 13 at next Friday's
close. Break even at $12.52 (transaction costs not included). Total
risk is $48 per spread. The bid/ask spread was wider than I
like on this one, but it did fill near the midpoint (I adjusted
down 2 cents from .50 to get a fill).
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Not sure if I should
Posted by jtsurfah on 10th of Jun 2021 at 04:10 pm
Not sure if I should share this but I have been killing it selling out of the money, short dated spreads to newbie Robinhood / WallSt Bets options traders lately. Mostly put spreads. E.g. CLOV short dated options have insane volume today and it doesn't seem like the people on the other side have any idea what they are doing. My "win rate" is tempting me to go bigger, but keeping position sizes very small because it seems like it will have a bad ending...eventually. For now it's like taking candy from babies.
nice man! post some trade
Posted by matt on 10th of Jun 2021 at 04:30 pm
nice man! post some trade details so we can learn what you are doing. Options are not my expertise so I like to learn
Absolutely -
Posted by steve on 10th of Jun 2021 at 04:21 pm
Absolutely -
awesome!
Posted by morton7 on 10th of Jun 2021 at 04:19 pm
awesome!
can you give an example
Posted by money786 on 10th of Jun 2021 at 04:14 pm
can you give an example if a trade you might have done ?Thanks.
CLOV June 18, 13/12 put
Posted by jtsurfah on 10th of Jun 2021 at 04:22 pm
CLOV June 18, 13/12 put spread sold right before the close for $48 per spread. $48 profit if CLOV above 13 at next Friday's close. Break even at $12.52 (transaction costs not included). Total risk is $48 per spread. The bid/ask spread was wider than I like on this one, but it did fill near the midpoint (I adjusted down 2 cents from .50 to get a fill).