Selling more puts then? I did a little reading on them and they seemed positioned well in the permian basin. Under Biden thats the place to be since its all private land there and stupid amounts of oil. Biden limiting new drilling on public land helps all the private land owners quite a bit. So it is interesting.
Probably. If I do they will be close to the stock price so I get higher premium. Once i get stock I will start selling calls on them.
It depends. I like good premiums so i've been riding GME (until it went past $20) and then AMC. But if it is something I believe in like Oxy, i want decent premiums but won't mind if I end up with the stock. So for Oxy I might go with selling a put at $27 close to what the stock is. Right now with AMC I don't want to own the stock so the closest I would get is $9 or $9.5 strike.
I'm considering giving the strategy more of a shot. Awhile ago I sold a PLTR put and made $300 but it tied up cost of 100 shares for over 30 days so I got a little bored with it. What kind of timeline do you pick for your selling on the put? Do you wait for it to expire or do you close them out when the premium is basically zero? Seems like it's a pretty reliable strategy for creating a regular cash flow. What's the worst case scenario?
Worst case scenario is the stock tanks. Sometimes i get scared and buy it back at a loss. Usually when that happens i should have just held. I usually sell my puts on monday morning. Just depends how i feel. I've bought back my puts and banked money at times. Sometimes i buy them back for $1 each on Thursday or Friday. And i'll either sell more puts with a strike price closer to the actual stock price if i feel good like it won't tank and can bank an extra $25-50 for the day than if I just let it expire. Sometimes I buy back on Friday and sell for the next week so I get all that decay over the weekend.
Your big in green energy right? Those got hit the hardest I think. I'm up and down across the board for the last week, probably about even. Catching that abnb limit sell at 215 and then dumping a bunch of AMC really helped tho. I had to stop trading abnb because I was overweighted there and worried about wash rules killing my profits too much. If gamestop has some surprise in store for today it could be a big day. I'm not in gme but if I was Id wait till after earnings just in case.
I was but I exited that position a while back. I have some $FCEL and some $FSR still. I'm taking it hard on $AMC (-15%) and some assorted meme stocks.
Yeah, i didn't jump into the market today. Amc was too shaky and i wanted to see what oxy would do. I might jump in tomorrow. I wouldn't mind owning oxy at 25.
All my stocks are in the shitter. I have like 16k in there right now and I don't want to take any losses and I don't need the money right now so I'm trying to wait until some come back up for life. I had a chance to pull out of Sundial a week ago and be $100 up and I didn't do it. Now I''m like 200 down. BARF.
I bought more $Zom, it has been falling, but get my average cost down. Who knows, i think they released their Truforma early, hopefully it picks up.
