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Primary_Ad_734 t1_j29i906 wrote

Theta gang entered the chat imgimg

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gypsies232 OP t1_j29kpm7 wrote

I want to join theta gang one day

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Kamikaze_Cash t1_j29zvxt wrote

You only need like $50 to join theta gang

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gypsies232 OP t1_j2a01rg wrote

I tried joining earlier this year but I lost my entire $100K account selling TSLA call spreads. Probably should start with $50 next time and not sell calls on a stock that’s mooning either. Oh, and position sizing is important.

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Kamikaze_Cash t1_j2a2clm wrote

Yeah if you’re putting $100,000 into a credit spread, you can lose all of it by expiration. You can blow yourself up just as fast as with FDs.

Try doing some 30/16 delta iron condors first.

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AlfredKinsey t1_j2c43p7 wrote

In the future: it’s easier to deal with high liquidity, low price (like literally small number), and narrow strike differences in your spread, especially when you first start. The whole point of spreads is to reduce risk, but a $900/share stock with $5 spread strikes is always going to require a lot of risks.

It’s also not a great idea to be risking 100% of your account. I only revolve about 5% of my portfolio through theta strats.

Also, don’t continue digging into a losing strategy, just loose and walk away.

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bestaround79 t1_j2b5e3x wrote

Serious question, What makes you think Tesla is actually a good company?

0

The_Clarence t1_j2d6p5c wrote

They were selling credit spreads. I think they think the company is garbage

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bestaround79 t1_j2d916i wrote

Haha my vision is going I read this completely wrong

Edit I take it this person isn’t showing us all his positions.

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AlfredKinsey t1_j2c4cs2 wrote

It’s more like with about $500, you can start to sell options to people and sometimes make an extra $30 a month.

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Kamikaze_Cash t1_j2chbrz wrote

You can sell $1-wide call credit spreads with $50 of collateral and make $25/week.

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Primary_Ad_734 t1_j29qfio wrote

So, how was it? Tesla go side way today mean theta gonna f*k you in dat juicy *ssimgimg

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0x11C3P t1_j294irk wrote

What an odd way to ID it. I figured it would say 3022P123 instead of C.

Don't mind me.

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stockrot t1_j2987s5 wrote

that 123 TSLA put ,needs an update

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gypsies232 OP t1_j29kmvq wrote

Doubled down on it when TSLA was up

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stockrot t1_j29ntui wrote

I have a 50 stock screen running the only one that was up is TSLA an hour ago LOL

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stockrot t1_j29q99l wrote

Godspeed OP good luck .I have a funny feeling the market is going to run up and finish green this afternoon

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josejulian87 t1_j2991kr wrote

Did you sold them already?

3

gypsies232 OP t1_j29b1gx wrote

Not yet I actually bought more. Will post gain/loss later

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yao97ming t1_j2am160 wrote

The classic got kill both ways

3

reddituseranyonymous t1_j2a9u20 wrote

Good luck. Im down like a million dollars from Nov 2021 highs because I kept betting the trend would reverse.... instead of quiting and following the trend at some point.

And/or listening to the crap advice I got from Morgan Stanley- and not cashing out my calls and buying QYLD. Id have lost a lot on QYLD but Id still have a bunch of Tesla shares and have a second income stream instead of holding my calls to zero then losing more trying to makeup the losses

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gypsies232 OP t1_j2aabwn wrote

Thank you! I have yet to reach a million dollars to lose but it puts it all in perspective (no pun intended).

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reddituseranyonymous t1_j2abm09 wrote

Im still salty about it. My account grew steadily all 2022 late September I made some small bets on Tesla rising into Q3 earnings and larger bets for Nov/Dec calls. Tesla went up 50% in a month. I made like 600k in a month. Mostly options, some $TSLA.

I considered closing the options, paying off my bit of margin - then doing something with the remaining cash but I had no idea what to do with the cash. Asked about buying QYLD was told not too- didn't. Monday Elon asked Twitter about Taxes. Tesla dropped 90% since

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Varro35 t1_j2dc2f5 wrote

Lol blaming your broker for you gambling losses?

0

reddituseranyonymous t1_j2drsuq wrote

I dont have a broker you smooth brained regard. I am blaming the broker I talked to at a major firm for being a fucking idiot.

Any broker worth a shit would have told me to take some profits and offered to set up a meeting. He didn't. That's like sales 101.

Hell if any of my friends had asked me what to do I would have told them to take profits and offered to help them figure it out and I am not even a broker.

You probably couldn't sell a cardboard box to a cat

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Varro35 t1_j2dt86b wrote

Lol Ive sold many millions in software my friend.

1

reddituseranyonymous t1_j2dtegv wrote

Doubt. Even if you're not lying Its irrelevant. The sales man I talked to told me not to worth with him when he had the opportunity to make some commissions. Hes bad at his job.

Hopefully youre better at sales than you are at reddit

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kin_cyber t1_j2acck5 wrote

Tsla is making zero movement. Are you okay?

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gypsies232 OP t1_j2acfas wrote

I’m taking my anxiety meds

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hash303 t1_j2anqs2 wrote

Did you close or are you fucked

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gypsies232 OP t1_j2anw21 wrote

Oh yeah Merrill wouldn’t let me close because it’s a day trade and so I was on hold for 2 hours and it closed worthless so yeah fuck me right? Ready for next year

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aogiritree69 t1_j2ai11z wrote

And now you pray that Elon stops tweeting

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1

VisualMod t1_j293750 wrote

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1

NoGameNoLyfe1 t1_j2984ve wrote

What’s your exit strategy on this play

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gypsies232 OP t1_j2988bn wrote

Waiting for a booming voice from above

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LordGaben01 t1_j29jdiy wrote

Yikes this didn’t age well.

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sermer48 t1_j29pk67 wrote

Max pain is $124 and there are a lot of outstanding options img

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admiralmav t1_j29z5oy wrote

YOLOing it through your balcony in cash would've been a better decision

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Altruistic-Rice-5913 t1_j2bei52 wrote

Bring some to 🍀$GETR🍀 its wayy oversold beaten down by shorts. Cheers 🍻 Happy New Years 🚀✔️

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AlfredKinsey t1_j2c4zsk wrote

How are you feeling, OP? Last gape of 2022.

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Careful_Ad8239 t1_j2dttge wrote

I can probably turn that around by selling. Usually it does exact opposite when I get involved 🤣 who wants me to save Tesla?

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elegance-etc t1_j2ad2t4 wrote

How much shares is this? I’m new to stock

0