$CVNA Short Puts (Bullish) | 411 contracts for $31K in Premiums | ~370K in Capital Required

Submitted by SuperBearPut t3_10pe644 in wallstreetbets

Theta-gang has got nothing on this degenerate play.

https://preview.redd.it/5921olmgx8fa1.png?width=1155&format=png&auto=webp&v=enabled&s=e3429387b6a13781fdda21e93b4034ccedc5c80a

I'm coming in hot and heavy, this is my entire net worth.
370K in capital outlay to make $31K in premiums with a 10% moneyness factor.

FREE MONEY.

30

Comments

You must log in or register to comment.

Negative-Road-8610 t1_j6jwcjf wrote

So should we inverse you since you were bearish on Netflix earnings?

https://www.reddit.com/r/wallstreetbets/comments/10h6uti/nflx_earnings_put_play_gone_wrong_25k_loss/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

10

SuperBearPut OP t1_j6jxyql wrote

Keep going back, I've had worse losses than that.
Inversing me is free money bro.

19

Negative-Road-8610 t1_j6jy726 wrote

At least you are man enough to own up to your losses sir. And for that I 🫡 you and hope your plays are profitable

9

Satorius96 t1_j6jy659 wrote

the dumbest way to bet on the stock going up

7

VisualMod t1_j6jvd5z wrote

>This is an excellent play. I would have done it myself, but I am not allowed to trade with my own money.

6

Upset-Chemist-4063 t1_j6k4fdi wrote

I want to inverse this so bad. WSB has taught me when everyone is certain something can’t go tits up, it always does.

4

Electricengineer t1_j6k7627 wrote

there is another guy on here that bought puts at 9, so...hes fucked.

4

Environmental_Bad821 t1_j6jvu4w wrote

You are so dumb… but I like it

3

SuperBearPut OP t1_j6jy2ba wrote

thanks man, what should I do with this free 31k?

4

Environmental_Bad821 t1_j6jyvf8 wrote

Honestly, I would wait for the FOMC decision and then place new bets. Personally, I'm bearish, but the markets can make crazy moves. Stay safe out there man and don't overdo it.

3

RockmanMike t1_j6k9xr3 wrote

I've read even the used car market is starting to go tits up, but we'll see.

3

Big-Toe6215 t1_j6k2l18 wrote

Why do you think these won't be assigned?

3

SuperBearPut OP t1_j6keolz wrote

b/c I am a professional degenerate, trust me bro.

7

rodsterStewart t1_j6kipib wrote

You're playing IV baby. That's playing with fire and I fucking approve. I went balls deep on some PMCC's earlier today. But I'll probably run this strat on my IRA.

Def not risk free, but easy enough. Just hope that shit don't crash by Friday or you're 100% fucked. Survive tho and ez money baby. My kind of play.

2

sassiestzilla t1_j6lm7cc wrote

What % is your phone battery? That's the only way to know if this is gonna work out or not

2

SuperBearPut OP t1_j6lpj4l wrote

79 percent at the time of the post, but I am on a laptop and my phone was charging on the pad.

2

AliveNot t1_j6lyrqr wrote

Well at least you're short premium unlike that other CVNA degenerate who posted today. You will probably make money on anything less worse than a -5% move tomorrow, based off your ungodly theta number and how IV works on meme stocks.

2

VisualMod t1_j6jvcho wrote

User Report
Total Submissions 1 First Seen In WSB 7 months ago
Total Comments 685 Previous Best DD
Account Age 7 months [^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.) [^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.)

^^Discord ^^BanBets ^^VoteBot ^^FAQ ^^Leaderboard ^^- ^^Keep_VM_Alive

1

jr1tn t1_j6jzwg1 wrote

This strike has a delta of .31. I wouldn't exactly call that "free money," but to each his own, I guess. Good luck on your trade!

1

wrinkle_divergence t1_j6keqk1 wrote

wouldnt the best time to do this be when it was at $4

1

Perryswoman t1_j6ko4tf wrote

I’ve been in since Friday as well

1

ImFedUpWithItAll t1_j6l2fxk wrote

What's the % move that will get you liquidated?

1

SuperBearPut OP t1_j6lplzf wrote

These are short puts, meaning selling puts being a bullish position.
The only way I can get liquidated is if the stock goes to 0.00

3

ImFedUpWithItAll t1_j6nfin9 wrote

If the price starts going down, the margin req for your puts will increase.

Hence my question, at what price move do you run out of margin and your broker starts liquidating your position?

Unless, of course all your cash is exactly the potential value of being assigned.

1

SuperBearPut OP t1_j6nnzcq wrote

These are cash secured puts, so yes I had to have the exact potential value of being assigned up front before I could sell any contracts.

1

ultrasharpie t1_j6nyboy wrote

do you think you could tank the stock by closing your puts? will jpow fuck u tomorrow?

2