Started selling options in June.
June is the month I decided to sell options, May was when I started buying them.
I was Bullish on $GraniteShares 2x Long NVDA Daily ETF(NVDL.US$ but knew they had a high chance of minor pullbacks before a large push, so I decided to sell a call option as I didn't expect prices to rise by a large margin before the split. ![]()
Well, I was wrong and price basically went up up and up ![]()
, my profit from this covered Call is still high, sure but I lost about double of what I could've made.
Sad, but profit is profit, can't complain. ![]()
I might try buying a Put option next time to hedge against risk though.
I do plan to continue selling cash secured puts and covered calls, however I'll probably never touch spreads as I both don't have the margin for it, and don't want to get margin called if one leg exercuses early and the other, worthless (happened to a friend of mine who got mc'ed) ![]()
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Oh and I have a small apple position I took to redeem a coupon, I closed it today.
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Yr 3 Banking & Finance student w 2 yrs forex, 6 months stocks. Moo earnings hub enjoyer
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VinceYeo : Good luck with your options. Personally I don't like to gamble so as an investor I buy for longer term with only money I can spare and ride out fhe waves.
Spread Love N Joy VinceYeo : It’s all gambling. Your gambling is less risky.
Thy GoD OP Spread Love N Joy : Wouldn't rlly consider the stock market gambling, there is no "house" that wants to take money away from you.
Technically options would fit the definition of gambling, but only if you're doing a naked option with no strategy attached.
Spread Love N Joy : The stock market is 100% gambling.
Gambling doesn’t require a house trying to take your money to be considered gambling.
I gamble with my friends and family on sports, and that’s gambling. Put up money with a chance to gain/lose money. Gambling.
Thy GoD OP Spread Love N Joy : gambling is a bet on an outcome that is usually rigged against you, there is only lose and win, there's no take profit, stop loss, breakeven or long term horizon.
you can't just call off a gambling bet the moment you start losing it.
Spread Love N Joy Thy GoD OP : American? tRumper? Karen?…..Right?
102538317 novice Spread Love N Joy : Probability Game
Spread Love N Joy :
GreenEarth VinceYeo : $80 billion of overnight repurchase capital flowed into the stock market, and the market is looking forward to cutting interest rates ahead of schedule!