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  1. #661
    Plutonium sonatine's Avatar
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    one of the things i keep hearing is that the most profitable way to fuck with options, by far, is to sell them, not buy them.

    right now im just flipping bonus money and if i back into a bankroll in the process and start to actually focus on sustainable income through it, thats how i im going to move forward, largely.

    but right now, between the fed injections, tsla being a golden goose, and this cock sucking wuhan virus which wiped out my semiconductor portfolio, im just kinda splashing around aggressively.
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  2. #662
    Diamond Tellafriend's Avatar
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    Quote Originally Posted by sonatine View Post
    one of the things i keep hearing is that the most profitable way to fuck with options, by far, is to sell them, not buy them.

    right now im just flipping bonus money and if i back into a bankroll in the process and start to actually focus on sustainable income through it, thats how i im going to move forward, largely.

    but right now, between the fed injections, tsla being a golden goose, and this cock sucking wuhan virus which wiped out my semiconductor portfolio, im just kinda splashing around aggressively.

    writing covered calls can be lucrative and doesn't have to be very risky. My mom writes b/n $40-$80k a year just fucking around. Never, ever write naked options.

  3. #663
    Plutonium sonatine's Avatar
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    Quote Originally Posted by Tellafriend View Post
    Quote Originally Posted by sonatine View Post
    one of the things i keep hearing is that the most profitable way to fuck with options, by far, is to sell them, not buy them.

    right now im just flipping bonus money and if i back into a bankroll in the process and start to actually focus on sustainable income through it, thats how i im going to move forward, largely.

    but right now, between the fed injections, tsla being a golden goose, and this cock sucking wuhan virus which wiped out my semiconductor portfolio, im just kinda splashing around aggressively.

    writing covered calls can be lucrative and doesn't have to be very risky. My mom writes b/n $40-$80k a year just fucking around. Never, ever write naked options.

    this = vertical spread, yes?
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  4. #664
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    step I will give you options 101 tonight...stay tuned...

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    Quote Originally Posted by sonatine View Post
    one of the things i keep hearing is that the most profitable way to fuck with options, by far, is to sell them, not buy them.

    right now im just flipping bonus money and if i back into a bankroll in the process and start to actually focus on sustainable income through it, thats how i im going to move forward, largely.

    but right now, between the fed injections, tsla being a golden goose, and this cock sucking wuhan virus which wiped out my semiconductor portfolio, im just kinda splashing around aggressively.
    the question I will ask you, 'who is writing the options?'...

    im sure you know the answer to that one...

  6. #666
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    Quote Originally Posted by sonatine View Post
    Quote Originally Posted by Tellafriend View Post


    writing covered calls can be lucrative and doesn't have to be very risky. My mom writes b/n $40-$80k a year just fucking around. Never, ever write naked options.

    this = vertical spread, yes?
    Not sure what you mean here

  7. #667
    Plutonium sonatine's Avatar
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    Quote Originally Posted by Tellafriend View Post
    Quote Originally Posted by sonatine View Post


    this = vertical spread, yes?
    Not sure what you mean here

    then im likely not using the term correctly, disregard.
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  8. #668
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    But what about puts? I remember when puts was all the rage, put did put dat put it where da options don't shine.

    I signed up to Dr. Gordon's seminar but I think I'm getting the shaft on puts.

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  9. #669
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    aight step, quick and dirty options 101...we'll use tine's position as our example...

    there are 4 main greeks that you need to worry about:
    delta
    gamma
    theta
    vega

    DELTA: has two meanings...it's mainly used to talk about the length of position...so 'tine's delta is 0.53, which means that for every option he holds (an option is for 100 shares of stock) it is like he is 53 shares long (0.53 * 100)...so each $24 CALL option will behave like 53 shares of stock...so he's 10 CALLS long meaning he's long 530 shares of stock...for every dollar the stock goes up, his position should get longer by 53 shares per contract...the secondary meaning of delta is probability...so the delta of the option loosely translates into the probability that it will finish in the money...so at this point in time the option has a 53% probability of finishing in the money...
    GAMMA: this is the derivative of delta...it means for every dollar the stock goes up, delta will go up by this amount...so tine's position he has a gamma of 0.10 per contract...so for every dollar the stock goes up his delta will go up by 10...gamma accelerates as you get closer to the money and then will flatten out as the stock gets deeper and deeper in the money...so while tine's gamma is 0.10 right now, if the stock goes to $28 his gamma will be much, much less because the option will start to act more like the stock and less like the option...
    THETA: this is time decay...as each day goes by the price of the option goes down by theta...so tine's theta is 0.03...so the value of his options will go down $0.03 for every day that passes...this accelerates as we get closer to expiry, going near exponential in the last week...
    VEGA: this is volatility...for each percent that implied volatility goes up (down), the option will gain (lose) that much...so tine's vega is 0.02...so if the implied volatility of the option goes up (down) by 1%, the price of his options will increase (decrease) by $0.02...

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      sonatine: good shit, poast moar of this
      
      Daly: It’s all Greek to me....... well written

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    Quote Originally Posted by GambleBotsChafedPenis View Post
    aight step, quick and dirty options 101...we'll use tine's position as our example...

    there are 4 main greeks that you need to worry about:
    delta
    gamma
    theta
    vega

    DELTA: has two meanings...it's mainly used to talk about the length of position...so 'tine's delta is 0.53, which means that for every option he holds (an option is for 100 shares of stock) it is like he is 53 shares long (0.53 * 100)...so each $24 CALL option will behave like 53 shares of stock...so he's 10 CALLS long meaning he's long 530 shares of stock...for every dollar the stock goes up, his position should get longer by 53 shares per contract...the secondary meaning of delta is probability...so the delta of the option loosely translates into the probability that it will finish in the money...so at this point in time the option has a 53% probability of finishing in the money...
    GAMMA: this is the derivative of delta...it means for every dollar the stock goes up, delta will go up by this amount...so tine's position he has a gamma of 0.10 per contract...so for every dollar the stock goes up his delta will go up by 10...gamma accelerates as you get closer to the money and then will flatten out as the stock gets deeper and deeper in the money...so while tine's gamma is 0.10 right now, if the stock goes to $28 his gamma will be much, much less because the option will start to act more like the stock and less like the option...
    THETA: this is time decay...as each day goes by the price of the option goes down by theta...so tine's theta is 0.03...so the value of his options will go down $0.03 for every day that passes...this accelerates as we get closer to expiry, going near exponential in the last week...
    VEGA: this is volatility...for each percent that implied volatility goes up (down), the option will gain (lose) that much...so tine's vega is 0.02...so if the implied volatility of the option goes up (down) by 1%, the price of his options will increase (decrease) by $0.02...

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    I lost you. How did you get this 53#

  11. #671
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    see the outlined in yellow...the delta is 0.53 (given by the black scholes calculation)...and each contract is 100 shares...delta is 0.53 meaning that each 100 share contract will behave like 53 shares of actual stock...

    0.53 (delta) * 100 (the amount of shares each options contract is) = 53 shares

    make sense?

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    Quote Originally Posted by GambleBotsChafedPenis View Post
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    see the outlined in yellow...the delta is 0.53 (given by the black scholes calculation)...and each contract is 100 shares...delta is 0.53 meaning that each 100 share contract will behave like 53 shares of actual stock...

    0.53 (delta) * 100 (the amount of shares each options contract is) = 53 shares

    make sense?

    Yea this was the question. Is this from a formula or something?

  13. #673
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    Quote Originally Posted by OSA View Post
    Quote Originally Posted by GambleBotsChafedPenis View Post
    Name:  optionslesson_LI.jpg
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Size:  1.06 MB

    see the outlined in yellow...the delta is 0.53 (given by the black scholes calculation)...and each contract is 100 shares...delta is 0.53 meaning that each 100 share contract will behave like 53 shares of actual stock...

    0.53 (delta) * 100 (the amount of shares each options contract is) = 53 shares

    make sense?

    Yea this was the question. Is this from a formula or something?
    yeah it's all based on black scholes…

    you could put it in front of me and I wouldn't have a fucking clue what it was...but all you need to know are the greeks and how they interact with each other and move based on time, price, and volatility...

     
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      sonatine: i appreciate your wisdom as well

  14. #674
    Plutonium sonatine's Avatar
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    i think im going to buy tsla calls tomorrow and there are 2 reasons why.

    1) if it really does shed 50+ dollars, theres going to be a bounce as casuals comme moi go bargain shopping the next day. and even if there isnt, the model y numbers are going to be extremely strong, and the 2nd china shift is going to bring some heat as well.

    2) i swear to christ im not sure numbers matter any more. its up $6 since market close. why? there's no fucking reason for it at all. either im getting rope-a-doped by people manipulating the market price so they can short it tomorrow before earnings, or smart money is piling on now.

    so yeah pending rats fleeing ships tomorrow im going to just roll with like, 3 call options and hope the fb earnings report takes the sting off if shit goes sideways.
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  15. #675
    Plutonium sonatine's Avatar
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    real talk id rather lose money than miss a chance to make it.

     
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      OSA: spoken like a true gambler
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  16. #676
    Plutonium sonatine's Avatar
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    Quote Originally Posted by sonatine View Post
    I absolutely expect -15%. Numbers are numbers and model 3 saturation isnt getting offset by China sales. Long term, nothing has changed. Solar + model Y + China sales + Germany sales are going to be extremely positive elements. But short term? Should be a bloodbath because the big fish buy/sell on whats happening now, not whats happening next quarter.

    But as San pointed out, this is now a memestock. Its the new bitcoin. So you have fanboys who might not even give a shit about numbers saying OOO CHINA Q2? *BUY*.

    But ultimately I think the whales are going to care about the numbers. Im going to roll the dice on -15% personally.

    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  17. #677
    Plutonium Sanlmar's Avatar
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    I take the most pleasure in conversations that are free-wheeling. Conversations where the participants make interesting associations.

    You mod this pretty nice.

     
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      sonatine: ~~~curtsey~~~

  18. #678
    Plutonium sonatine's Avatar
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    netflix announced layoffs after market close.

    sneaky cunts.
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  19. #679
    Plutonium sonatine's Avatar
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    dear fed,

    hollar?

    -tine
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  20. #680
    Plutonium Sanlmar's Avatar
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    I know you have no appetite today.

    Try to eat a few saltine crackers. Maybe a warm bowl of beef consommé.

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