2022 please don’t go, stick around.

Submitted by RiceN_Beans t3_1002kw8 in wallstreetbets

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So.. I was experimenting with options this year and discovered that I am a gay bear. Most profitable for me were put options with monthly expiration. Biggest wins were puts on companies with triple digit P/E ratio like AMZN, CRM and RBLX. Biggest loss -80% on HUT shares. I try to stay away from short term options lottery tickets. I try to keep position size small since I’m old and have no luxury of going back to work at Wendy's to recover my portfolio. I do not trade every day and only enter when there is a good chance to win. I currently have 4k shares of JWN and 40 puts on NKE, rest in cash. HAPPY NEW YEAR 2023!

TL;DR made more this year than my entire life 620k -> 1.83 m

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VisualMod t1_j2f35n5 wrote

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^^Discord ^^BanBets ^^VoteBot ^^FAQ ^^Leaderboard ^^- ^^Keep_VM_Alive >TL;DR: took some risks and it paid off

1

Darth_Laidher t1_j2f6jme wrote

Meanwhile.... in 2026, i may have chance to get rid of a bag.

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Mindless_Mechanic007 t1_j2f6xi5 wrote

Nice JOB!!! You inspire me to be a better trader. Proof that it can be done!!!

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mo2cii t1_j2f7a2e wrote

Nice!!

I have Nike puts too. Bought when it surged after earnings this month. Been refusing to fall.

When do yours expire?

1

mo2cii t1_j2f7q79 wrote

Could you please discuss position sizing in detail.

If you make small bets, and trade infrequently, then how do you make money?

Thanks in advance

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RiceN_Beans OP t1_j2facvm wrote

Replying to mo2cii (#1,245,183)

Usually aim for 2% of your portfolio. My biggest position was 10% on AMZN puts but I was sure market will punish Amazon for reporting fake quarterly results, adding Rivian shares to earnings. Generally I wait for opportunity oversold or overbought, or top of the channel.

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Taxibaas t1_j2fhsud wrote

Well deserved and happy new year 🎊

4

Chachakiwi t1_j2fpnrb wrote

So great to show how well you did. Also close to retirement it gives some good insight

12

matsmakeshift t1_j2fs8is wrote

Nice job! What do you look at to determine your price targets for the Puts?

3

RiceN_Beans OP t1_j2fssup wrote

Replying to [deleted] (#1,249,796)

Your puts should print. The gap on chart should close one day. By overbought I mean move of the stock price relative to the news that moved the stock. Example NKE or AMZN move up by 10% on earnings but quarterly report is not that impressive if you look at the numbers yourself.

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anon43850 t1_j2ft2r7 wrote

Well done! Your style of play is inspiring.

2

RiceN_Beans OP t1_j2fuxcp wrote

Replying to matsmakeshift (#1,254,398)

I don't have specific price targets. If the markets keep diving then I keep holding. If bear market rally is about to start then you better sell. Take whatever you can get. Wait for another setup

4