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VisualMod t1_j6l8v96 wrote

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brutalpancake t1_j6l9cd9 wrote

Reading this really made me question a lot of things

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DakkJaniels t1_j6l9clf wrote

what’s the problem? Your shares might get taken but you should be making money on them.

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Shiftybidnes t1_j6la0vd wrote

Put in am order to sell the shares and buy back the calls at the same time if ur worried. It will close the whole position

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Severe_Set5371 t1_j6las1f wrote

Worst thing is your shares will get called away for 9 bucks, you bought them less then that. You make will make money.

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DakkJaniels t1_j6lasjd wrote

Replying to thisisthetaa (#1,641,928)

Why would you rather pay money for an option to buy it back, rather than letting it expire worthless? Yeah, I get closing out the position from a risk standpoint if they were OTM, but why are you selling covered calls if you want to buy them back when they are in the money?

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thisisthetaa OP t1_j6lb6c3 wrote

Replying to DakkJaniels (#1,642,011)

wait hold on if it’s 8.99 it’s out of the money and by expiration all that would be left for the most part is the intrinsic value. I was just going along with your scenario. Correct me if I’m wrong.

−8

Fog789 t1_j6lcgh4 wrote

so, you’re saying i should short it?

2

JitsISM t1_j6le2dp wrote

Replying to thisisthetaa (#1,642,159)

You made money on the premium of the options you sold. The point of selling covered calls is to make money when a stock isn’t doing well and you want to hold onto it. If they expire in the money you sell your shares for the strike price. You have the safest form of selling an option. Relax.

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JackWolfbanger t1_j6lxiec wrote

Long Stock + Short Call = Short Put

Think of it as you basically sold a 9 strike put that expires Feb 3rd. So you are correct that if the stock tanks you’ll take a beating. Your hope is you can sell more calls to lower your basis, but if CVNA really drops there won’t be calls you can sell without the risk of a rally calling your stock away and you locking in a loss.

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Abandonedinternally t1_j6m2fqj wrote

Are you kidding me? And more importantly are all you people replying smart and caring?? Need I remind you where you are! How dare you come here, post gains and ask how bad you are?! Worst case you lose your shares but at $9 per share. The fact that you sold covered calls to protect your minute investment should get you banned! Let alone showing it off saying you did bad! I was looking for a real regarded play and got some guy complaining he’s down less on his calls he sold then the money he made buying the stock. He’s making money and concerned? Get out of here

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Fibocrypto t1_j6m2nxg wrote

This is a perfect example of over trading .

1

AppleParasol t1_j6mcfqv wrote

Ur not fucked per say, but you’re not going to make any money, even if you “make money” it’s not going to be anything worth actually doing these options. If it goes tits up you’ll miss out on massive gains. If it goes down, you’ll lose slightly less than you would just owning shares, but still not worth while.

0

rodsterStewart t1_j6mqnva wrote

Replying to thisisthetaa (#1,642,159)

If it falls to 6, then you keep your 1600 shares and you keep selling covered calls until you get assigned.

You seem to be confused about what your play is and you're the one who made the fucking play. Keep up the good work.

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