r/thetagang

I bought some 60 DTE OTM calls and they tripled in value the next day. But they’re still OTM, so theta is going to eat away my entire profit if the stock price stays where it is. I don’t want to sell the calls because I believe events in a month or two will drive them up farther.

I’m willing to give up part of my windfall to protect the remainder of my current gain.

Is there a way I can protect my windfall from theta without selling my profitable calls?

For me these have been AAL, GLD, SLV, HHH, JD, KWEB, PFE

So, from what I hear, Active Trader Pro will be replaced by Fidelity Desktop+ within a year. Sure, ATP is buggy and crashes frequently, but it has a variety of features that FD+ does not. And Fidelity says that it likely won't, ever. Many of these features pertain to options trading. ATP has a very nice options trade calculator with graphical output along with tables of the Greeks and other useful things, and volatility and time inputs, etc.. FD+ does not, and Fidelity basically told me to piss off when I told them that that was a necessary feature.

I need to move to a different broker whose trading software caters to stock and option traders both. Suggestions???? Help????

Hello big fellas, what apps are you using to track your option losses or winnings? I see a lot of posts with great ux and comments asking what they use but not a lot of answers. Also if it integrates with different platforms to get all the trades automatically. I use Ibkr.

Thank you!

Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep shit posting and bragging to a minimum.

Hoping to hear from more experienced investors. I've been trying to figure out my trading strategy (I'm towards the beginning of this journey.

I've come across this sub and sold a few CSPs. I've been reading lots about different methods for trading and frequently think about the statistic that basically all traders quit within five years and almost none beat the S&P over the long run. Has that been true in your all's experience? Would your advice to a younger investor/trader be to just stick everything in some ETFs? Or is theta gang worth it?

Open to hearing all sides

Curious the different way y’all may hedge your positions. Occasionally im selling cash secured puts on margin, and while I try to keep my total outstanding obligations (were I assigned on everything) below my nav, I still use margin and want some compensation for potential huge correction. Right now im looking at buying far otm debit spreads on xsp, pretty affordable for the payout. Curious to learn how y'all stay safe and responsible.

Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep shit posting and bragging to a minimum.

Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep shit posting and bragging to a minimum.

Say I hold a bunch of equities and 50k cash as dry powder in etrade. Selling CSP on this now. If I invested the 50k into a money market fund or SGOV is that not treated as a cash equivalent? As such could I not continue to sell “cash secured” puts against that balance? Would this incur any margin debt so long as the puts remained unassigned or if assigned if the cost of assignment is below the amount held in the money market fund?

Trades I took today as an option seller (08/17):

Closed Positions

• KORU → $15 Put (opened on 08/12), premium 0.70 → closed at 0.11. Net premium profit = 0.59 (~84% of premium captured, ~3.9% of capital).
• SEI → $60 Put (opened on 07/21), premium 4.60 → closed at 0.75. Net premium profit = 3.85 (~84% of premium captured, ~6.4% of capital).
• PENG → $60 Put (opened on 07/08), premium 6.50 → closed at 1.10. Net premium profit = 5.40 (~83% of premium captured, ~9% of capital).

New Positions

• CRDO → $240 Put expiry 09/04 (3 weeks DTE), premium 12.00 → 1200/24000 = ~5%. CRDO builds high-speed connectivity chips used inside AI datacenters. Earnings due on 1st September hence premiums are higher. They have been giving excellent earnings QoQ.
• PENG → $60 Put expiry 09/18 (5 weeks DTE), premium 4.10 → 410/6000 = ~6.8%. I reopened PENG, continuing my bullish stance. PENG helps enterprises setup data centers and AI compute, which I see as a growing sector as more companies inheret the use of AI.

CRDO was identified as a High Growth High Premium stock using the ThetaHedge app. The app scans the market for companies with improving growth and profitability that are also offering high option-selling premiums in real time. You can try it for free at https://app.thetahedge.io/

Conditions → High Growth Wheel Stocks

I keep sharing my trades in my account and the Excel file to my full list of positions is linked in my profile description in case anyone wants to see the whole portfolio. Happy to hear thoughts on my positions. What are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research.

Title

I own positions in both, so I want to start selling covered calls. Anyone selling these?

Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep shit posting and bragging to a minimum.