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Options… I sold SOFI PUT!!
For those who wondered how to do options, I highly recommend that you go to these articles that Moomoo provides. They absolutely rock….
Options not only allow you to leverage but also help you to risk hedge….
My favourite is Selling Put, because…
1. You can get premium if the price did not fall below strike price at expiry.
2. Even if it does (below strike price), you can own the stock at a lower price and cheaper, practically lowering the average price.
Selling Put essentially, makes the periodical income possible while offering potential chance to acquire the underlying stocks.
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I am currently selling 1 x SOFI PUT, which will expire in 4 days. If the stock goes above 15.5 at the end of the expiration, I will receive $60 USD because the PUT option I have sold would expire worthless.
If this does go below 15.5, at the expiration, I will get assigned to purchase the SOFI stock at 15.5 from someone who purchased the PUT option.
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When I look at the daily chart, it does appear that SOFI just rebound from the bottom Bollinger band, and the RSI suggests that a few days ago, it was quite oversold.
I am still bullish in this stock, and the strike price of 15.5 is slightly below the middle Bollinger band. In the next two weeks, I would not be surprised if this continues to go around 17.00.
Therefore, if I get assigned at 15.5, I wouldn't mind at all.
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ひな☆彡 SOXL(Bull)
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Don'tCome @ me if U can’t do the same!
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72559813 : Thank you for sharing
晴瓦林 : Long straddle is best for stock like $GameStop (GME.US)$
Cherry2024 : Oh Price has dropped and u may be assigned. (usually is on expiry date, i think)
Cherry2024 晴瓦林 : I only use the basic single options on GME, why is it more suitable to use long straddle?
ひな☆彡 SOXL(Bull) OP Cherry2024 : Yeah on the expiry date. I will be assigned !
晴瓦林 Cherry2024 : It's only suitable if GME goes 20% in either direction in a day.
Sweee 晴瓦林 : jus to clarify this is speculative move to bet on volatility expansion, only do this if u anticipated big moves like after earning etc. For day to day trading, GME used to only have upside risk when its trading sideway, now that its heading up trend, its v risky to play in general
Cherry2024 Sweee : Yes, I'm quite new to Options ( few months) so I will play safe and stick to the basic strategy
Vertical Spread seems "safer" too
Cherry2024 ひな☆彡 SOXL(Bull) OP : My quantum stocks high chance to be assigned too due to the current fall! Sofi seems good to sell put like you did.
ひな☆彡 SOXL(Bull) OP Cherry2024 : If I get assigned, I will probably sell call at 17.00.
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