What Did You Buy Today?

[fenders53]

(03-30-2021, 01:37 PM)Otter Wrote:

(03-30-2021, 01:32 PM)fenders53 Wrote:

(03-30-2021, 01:00 PM)Otter Wrote: 83% of put options expire worthless.

75% of call options expire worthless.

Selling these instruments in a way that mitigates risk (covered calls and cash-secured puts) can be very lucrative. I am a Theta Gang convert.

That is why I sell puts.  It takes awhile to find your groove.  I definitely feel left out when you guys are scoring thousands on a trade.  I'm left grabbing fifties or maybe $300 if I am lucky on on a single option contract.  The win % makes it worth it because I do it in volume spread out over too many stocks. and I am rarely worried I am going to get wrecked if the market turns on me for a week.  

Learning when to get a little aggressive on the long side makes it even better.  I'll get left in the dust when the spec stocks turn higher and I'm just selling puts.

Sell LEAP Puts on meme stonks with sky-high premiums.

That thought has crossed my mind lately.  It would be even better now because I could get picky and insist on companies likely to make some profits by next year.  I would prefer VIX be a little higher and I probably won't have to wait too long for that considering how low VIX is vs last few years.  VIX isn't actually historically low now, but it is compared to most of the past two years on average.