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Options can be good. FUD and market makers forum slid this sub into thinking options are always bad as if RK hadn't been doing it the entire time and half the reason it blew up in the first place is because of the pressure it causes.
Options can be a good thing as a tool for a portfolio's risk management. However, giving a leveraged tool like options to an inexperienced investor is a recipe for disaster. Especially when investors try with OTM options and their gamble goes to 0. GME is highly volatile with high IV now. Are you going to learn about IV crush, time value, market manipulation all in one go?
For every DFV, there are thousands of silent apes who lose on options. Remember it's leveraged, so the losses are magnified quickly if you get it wrong.
If you still want to learn more, then read some books like Understanding Options by Michael Sincere. Great reading to learn the basic and advanced strategies. Lastly, get years of experience. You must learn from losses and wins, and then manage your future strategy accordingly. Wishing you all the best.
What I know is that the hundred thousand bots and bought-accounts invading the sub this weekend, with zero history on SuperStonk until last week, have been posting hundreds of times per day trying to persuade apes to sell shares and buy options for a guaranteed quick path to riches.
What I know is that between price manipulation and insane volatility, there has never been a worse ticker or a worse time in the history of the stock market for learning options than $GME in June 2024.
What I know is that the SHFs have reached terminal desperation, because we’re winning and it’s the end game.
Buy. HODL. DRS. Nothing has changed, shorts r fuk, no cell no sell.
1) For every ape that actually has the time, and puts the time and energy into mastering Greek and adequately learning options, there will be more who just scan this post, find themself emboldened with false confidence, and place a call that’s sure to burn them. Some % of those will sell shares to do so, or lose shares selling covered calls.
2) Even if that wasn’t true, there’s simply not enough hours before lift-off, waking or otherwise, to get familiar enough with options trading on the most challenging stock in the history of the market (at the worst time in the history of the stock).
The effort and time you put into this post are impressive, but it’s playing right into the SHFs hands. They want apes playing with options. This is known.
'Options are too risky for dumb apes'
This is the backwards ass mentality that has previously knee capped this sub, it needs to end and if people have been sitting on their hands for 3 years not educating themselves about a core component of how the market operates and how to use all its tools available, they need to give their head a wobble.
People aren't dumb in here, not if they educate themselves and follow good risk management.
OH HE DOESN'T DOES HE? How TF would you know? Also, if he didn't do just that, how would you explain the change in his cash position between yolo updates?
https://preview.redd.it/05xrc7n1g17d1.png?width=1080&format=pjpg&auto=webp&s=3815c4b94224ab50b6e84c4d03d3d0f4252120c1
Dave Lauer says options sellers DO have to purchase on a lit exchange. In believe this bc it's the only reason price is running.
Regular stock purchases go to dark pools. We know this. Options are what caused Jan 21. Happening again now.
Dave Lauer is saying that when you buy/sell put/call it cannot be done off exchange.
**However** the delivery of shares when you exercise can be done off exchange.
That is not what he said. Buying and selling the options contracts themselves is completely transparent and happens on a lit exchange. But if you sell an option, and the other party exercises that option, then you and the other party swap cash for shares in one direction or the other (depending whether it was a call or a put), and the only statement he makes about exercising is that it's a separate process.
(What follows is a long explanation of how I believe things work. Not necessarily directed at you personally, but I wanted to explain it to myself so it's clear in my head. Please note that I am a complete newbie at options and may be wrong about any of this.)
Suppose you and I are the two parties.
I sell a $2 call for next friday, you buy a $2 call for next friday at the exact same moment.
It's just a coincidence that we buy at the same time. We're not yet paired up in any way. These are two separate transactions with the market maker (apparently that's Wolverine...?) Because of the spread, our transactions occurred at two separate prices and the MM pockets the difference.
For sake of argument, let's say you paid $30 and I got $29. (times 100 of course, so $3,000 came out of your pocket and $2,900 went into my pocket).
But: they don't need to buy anything, because as long as I'm under contract to deliver 100 shares I'm the one taking the risk.
Since my Broker doesn't trust me, they wouldn't have let me sell the call unless I actually have 100 shares in my account, and I basically can't sell them until the contract expires. -- That's why the call is "covered".
Anyway, at some point next week you decide to exercise your $2 call. You've already paid $3,000 for the contract and now you pony up another $200.
Wolverine now has to deliver 100 shares to you. They could take those shares out of their own pocket if they wanted to (and they have them), or they could look at anybody who has any short call contract for any price or expiration date, and exercise their option. Since they have your $200, and I sold them a $200 call, they choose my contract, and take my shares.
Suppose at that particular moment the price of 1 GME share is 42 trillion dollars.
Do you think everyone would see the price suddenly drop to $2 for one tick? What about $29 or $30 or $31 or $32?
Presumably, options get exercised all the time at prices under the current stock price. Where do we see those transactions? The answer is we do not see them at all.
What we do see is a change to the volume on $2 calls for GME for next Friday, and then the next day we can also see a change in the number of open contracts (open interest).
Nothing we hypothetically did here moved the price at all. Our actions cancelled each other out.
What's different with DFV is that he didn't just buy one option. He bought 120,000 calls. Which means Wolverine sold 120,000 calls. Which means they either need to buy 120,000 calls or have DFV sell those calls back, OR buy up to 12 MILLION actual shares to hedge against the possibility of DFV exercising.
(And of course it was more than that because a bunch of other people piled on and bought more calls).
It's that lack of balance combined with the threat of the contract owners exercising that forces the Option MM to either enter more contracts or buy GME shares (and maybe even have to sell other things to raise money to buy GME).
Bob,
Thank you for this. It been....disheartening to watch a lot of misinformed people making decisions about things like executing OTM options and not understanding how the greeks work.
I've wanted to write something for awhile now, but you know... life happens. Hopefully people will read this, ask questions and grow a wrinkle or two.
This is the hedge fucks worst nightmare. The one thing they did successfully was convince people to not buy options. They cannot withstand a bunch of regards with the knowledge on how to use this type of leverage. Thank you Bob
I do both. I make money from options and use that money to buy shares to DRS.
IMO the subs biggest failing has been thinking that DRS and options were mutually exclusive.
This is what I just realized (as it seems we all have). I've got enough shares locked away that it seems outright dumb not to learn and finesse options. All the great DD over the years (yours included, legend) has given me the wrinkles needed to be confident in this venture.
If you don’t mind my asking, I’m looking for my next special interest and have very little money to start with outside of the shares I already own.
Is this how you make all your income? How much did you start with and what’s a comfortable initial investment to not bottom out on a few unlucky ‘learning experiences’?
Unless you really know what you're doing, you shouldn't exercise any options early, itm or otm. If you no longer value the optionality of an itm call, one good method is to sell the same strike put. That will give you extra cash and ensure you get 100 shares at expiration. The downside is pin risk.
I see. EDGE me harder than Daddy Cohen and make me go look!! 😂
Much love to you OP. YOU a REAL one! Pepperidge Farms ain't the only one with an ELEPHANT MEMORY around here!! I 'MEMBER!!!¡
84 to 741.... I'm ready. Let's Ride!
RawPancake here is a RawFact: You are 100% correct!
I also went to look on his profile, where HE directed me to search, and I found the exact same thing you found: NOTHING re his claim answering my question! WTF
"There's some ho's in this house!" 🤨
Stay Frosty RP! VICTORY is INEVITABLE & NIGH!!
I actually purchased 20 calls 20$ strike on February , made hella money , exactly like rk , bought 500 shares and used the rest for bills and life shit, i was afraid to post my gain porn because yk "options" , it was literally my 1st time into options... definitely not the last .. bought 65$ and 125$ strike...... no regrets.... i believe i can double my gme shares by the end of year ... maybe earlier 🤷🏻♂️🤷🏻♂️
what is happening on the sub is beautiful. retail is about to become empowered. the days of calling ourselves regarded are almost over. screw the memes, we want big brains not smooth brains. time to put the effort in and learn so we can all make money while we are in the infinity squeeze. oh, and get more shares.
Bob, I'm so happy to see this here! I just finished It's All Greek To Me last week on another sub and I really appreciate the time and effort you put into educating. It's a great series and I hope others will receive it openly.
Excited af for both of your posts! Thank you for your effort, it goes a long way. Education is king. DFV is clearly well versed in the intricacies of options. We will be too. And that's what the market fears most.
Options are essentially just leverage. The premiums right now are really bad to be buying options.
RK timed everything very well by buying calls in late April/early May. Premiums were at an all time low and he bought mainly ATM and NTM calls. You gotta know what you're doing and timing is everything. Most options plays are going to fail. The farther OTM you go, the more likely it is to fail, hence the cheaper premium.
Agree with elevated premiums right now.
What is this failure? Not ending in the money? There is more to options than simply buying short dated far OTM calls...
A caution to everyone here: if you believe in MOASS, don’t sell covered calls over your GME shares. If you do, and MOASS triggers, you will be stuck selling your shares at the strike of the call you sold. There won’t be a way to “roll” out of this. This is what is means by picking up pennys in front of a steam roller.
Thanks Bob. Can you help me explain the risks behind selling covered calls. If I have 100 shares of GME, does that mean I can make money by doing nothing? I think I understand that someone can exercise on me and I'll end up with cash instead of shares if I understand right. Would that mean I could miss moas? Thx dad
I have a whole writeup on that - 2nd in the Its all Greek to Me series. for more clarification go there. Link is in the OP
buuut, quick explanation:
you have 100 shares at $15 cost basis because you've been buying and holding and averaging down right?... right?
* anyway, so you decide to sell a call at 40 strike tomorrow morning, expiring on Friday.
* you collect the price of the option \* 100, lets pretend without looking that its like a buck or something, so you collect $100. This is yours to keep.
* if the stock does not close at or above 40 (and you're regarded and don't buy it back on friday before close), you keep your shares too.
* if the stock is above 40, you will be exercised most likely and your 100 shares will be sold for $40, netting you 40\*100 = $4000.
* You can immediately on the next monday, buy more shares or sell a put with your capital.
* There are lots of management techniques to keep your shares such as rolling and buying to close, etc... i'll get into that in a future post if this one is received well, as i don't want to waste my time.
Selling covered calls isn't money for nothing. It's money for the right to buy your shares at a given price on or before a certain date. If the price is below that price at that rate then yes you got money and they did not end up getting your shares. If the price goes above your strike price on the option you can either wait for them exercise or if the price goes down do nothing, or you can by back the call, for a loss most likely, to avoid having to sell your shares. So if moass happens while you have covered calls active you will likely have your shares called away and for far below "market" value at the time.
This is my worry about covered calls with GME. I don’t want to lose my moon ticket trying to gain a few bucks on covered calls.
I would rather learn, and then try covered calls on a dividend stock with less volatility.
Not fully sure if that is wise yet?
You're not going to make money on stock with low volatility. The higher the IV, the better the premiums. Selling CCs are risky and, personally, only worth it if you have a lot and are fine with risking some. You can roll them out to a higher price but when MOASS comes you won't be able to outrun it. Maybe a year or so out? Dunno, but why learn the hard way. You can still sell Cash Secured Puts though and rake in cash until forced to buy. That requires enough money to buy 100 shares at whatever strike so not possible for everyone. Lots of great strategies we all could have been using to increase our bag over the last 3 years if it wasn't for all the FUD towards options, which I too fell for.
If you sells covered calls and the stock rises to the price where your shares get called away, that's known as "max profit" because you collected the options sale premium and sold the shares at what you agreed upon strike price.
It's generally not advised to sell covered calls at a stroke below your purchase price unless you are comfortable taking a loss on that investment.
No way in hell I'd EVER consider selling covered calls. You're putting 100 shares at risk to make like a couple bucks a share. Bonkers. You'll be all happy with your couple hundred bucks here and there, then all of a sudden the rocket launches. I definitely could see Hedgies trying to harvest shares from covered calls too. They have access to order flow and see that info. I bet they are already hunting for them like they do with stop losses.
I don't know about you... but it's sure is strange seeing support for selling covered calls right now.
Who knows what the technical term is, but.. GME is making a HUGE as fucking reversal. Selling covered calls now? Fuck out of here with that lol.
"Probably the best (most responsible) way to get your feet wet with options is to sell calls, covered by your shares..."
nah im good. good read on options though.
I'm not framing shit, but I am aware of the current interest in the subject and annoyed with the misinformation flying around, so I made a post to help educate.
It's not my first and won't be the last 🤙
DO NOT FUCKING SELL COVERED CALLS NOW, WTF, he's recommending it for people that don't know what they're doing. It's a fantastic way to LOSE all your shares at an undesirable price. The time for covered calls is over.
I'm not advocating that. Please reread the post if you misunderstood.
The only mention of CCs is in the context of learning how to options IN A PAPER TRADING ACCOUNT. Further, I explain you need to be willing to let the shares go at the strike you sell the call at.
You obviously believe in moass and I hope you are right, but I'm not afraid to take gains where I see them... It's what has helped me become a xx,xxx holder. I only had 10 shares to begin with in 2021... At a very high cost basis.
All that said, I agree with you... Don't sell CCs if you are uncomfortable with the idea of selling your shares at the strike price.
Granted, I understand so much more now than I did in 21, but I'm still nowhere near being qualified enough to do options. So buy and hold is all I trust myself with.
All the top comments in this thread praising the Options > DRS message are by accounts brand new to SuperStonk.
Look at the histories, folks. Believe your own eyes.
It comes back to the point that anyone who can and wants to do options already is. People shouldn't be *encouraged* to do options because they're easy to get wrong, especially the Covered Calls point (picking up pennies in front of a steam roller) and Bob's evasive answering to that very reasonable issue.
Precisely, the scale of this emerging sentiment about trying out options is just as worrying as the evasiveness of OP, not something to be taken lightly!
Taken in good faith I can see education only as a good thing. The issue are the more opinionated aspects of the post, which aren't necessary and that's the concerning part.
Okay, MOASS never left the table; just sayin. There’s been an eerie quiet here and I think this DD just kinda bitch slapped me back to my 2021 roots, I shall be investigating and taking this shit seriously (with no money lol) but maybe if the price continues to show volatility, with gains incoming, I may be able to be in a position next year or two to start actually leveraging options. Who knows. I’m scared to put money into options still cuz I’m barely getting by but I will start actually learning about it now, thanks!
if you have 100 shares or more, you can make money with them through options - read the series i posted here and you'll understand how.
you can use that money to buy more gme and keep riding this gravy train until valhalla.
Thank you for the post.
I skipped the paper trading in lieu of learning the hard way.
Have come to the conclusion that regardless of the stock you still have to beat the market’s projection. I see premiums very much like point spreads. It looks easy when there’s a blowout but how many times can you predict that. Realized belatedly that buying deep itm calls was a safer, albeit less sexy, way to make money but then bought rivian earlier this year and it tanked. Of all things Gm revised me and am trying very hard not to just go chase the latest craze.
My favorite setup is doing what I call bob smith spreads..
I let in during periods of volatility and end up with things like bull call credit spreads lol.
Also calendars. I go hard on leaps when IV crushes our and just wait for a pump and sell the IV against them in a 1:2 or 1:3 ratio.
This recent pump on GME has all my leaps paid for and then some.... Sitting on a grip if 25s right now call side for Jan 2025 with an effective cost basis of like -20 and dropping lol .. meaning Kenny **paid me** to take a long position in GME to the tune of $20 per share ...
Rule 901 in the OCC rules
(c) It will ordinarily be the policy of the Corporation to cause settlement of exercised stock option contracts and matured physically-settled stock futures contracts for CCC-eligible securities that are scheduled to be settled on the first business day after exercise or maturity to be made through the facilities of the correspondent clearing corporation in accordance with the rules and procedures of the correspondent clearing corporation.
If such settlement obligations are reported to and are not rejected by the correspondent clearing corporation prior to the time when it becomes unconditionally obligated, in accordance with its rules, to effect settlement in respect thereof or to close out the securities contract arising therefrom, the Corporation shall have no further obligation in respect of such settlement obligations. However, the Corporation may in its discretion determine to alter this policy in particular circumstances.
(d) A specification in any Delivery Advice that settlement is to be made through the facilities of the correspondent clearing corporation pursuant to this Rule 901 may be revoked by the Corporation at any time prior to the obligation time by an appropriate notice to the Receiving and Delivering Clearing Members. In the event of such revocation, delivery and payment shall be made in accordance with Rules 903 through 912; provided, however, that the Chief Executive Officer or Chief Operating Officer, or, if it is not feasible for the Chief Executive Officer or Chief Operating Officer to take such action, then a Designated Officer of the Corporation may, upon the application of the Receiving or the Delivering Clearing Member, extend or postpone the time for delivery to a date not more than one business day after the date of such revocation.
Thanks so much for this, Bob. I've been looking for something UNDERSTANDABLE for a while, and this is it. I've been wanting to play with options for some time now and this might be the push I need.
Thanks for talking about the importance of paper trading, too, that's very important to play with to see how things can play out!
Yeah I fucked up last week. I was selling covered calls and was up roughly 1200 last week if I let it ride but I bought it back and then bought calls at the weekly high and got burned. Oh well. I’ll try and sell my calls I bought at a close to buy price and then use that price to sell some more covered calls and get my money back
Why not publish this before RK returned? Odd being that there is a huge option push during insane volatility where people that have never used them are jumping in and losing money. I’m inferring that it’s weird timing, that’s all. I know your username I have been through it all. I’m not saying options are bad if used properly, I’m just saying it’s weird timing.
Ok so the question is why try to educate apes on options now?
Well there's a few reasons:
* I have been trying for years to help apes understand and be open to understanding options. I've been met with unending skeptizism of my motives (simply helping educate and provide data) and downright hatred for posting options stuff in the past.
* The sentiment on the sub has changed recently and it seems to be interested in learning about options. I thought a level fact driven set of information woiod be useful to the sub.
* With DFVs options positions in the yolo updates being the star of the recent show. People are looking for answers and I've seen some really REALLY bad answers gaining reaction here. I wanted to jump in with real information backed up by data in a way people can digest and learn... So they don't go off and do stupid shit like chase with calls in high IV environment. I say this in the OP, which I'm not sure you read at this point in the conversation. Perhaps did you just see options and have a knee jerk reaction here?
* People need good information on options and that is what this post and the series is intended to be.
You are right to be guarded. But I've been around a loooong time and only tried my best to help. Even then people change so don't trust me based on my legacy. Look at the content of the post and digest what I have said here and your mind should be at ease. If not please let me know what I can further clarify for you.
Just a hypothetical question
But the super far out options that expire in like 1-3 years are super cheap. Would you be able to buy one today and say the price hit like (idk) $50 on Monday, could you immediately buy or sell it? Or would u have to wait for the 1-3 years to go buy?
I’m saving this for my second round of my prescription 😅
I’ve wanted to learn options but even when people ELIF, I’m still ????????
Excited to read, question, learn, and grow.
I've also discovered that at the two brokerages I've tried so far (ETrade & Fidelity), neither would allow me to trade options in the extend hours, despite being set up to trade equities during extended hours. From what I read, it seems they simply don't support extended hours options trading for some tickers.
This seems like a big gotcha I haven't seen mentioned anywhere yet, as most of the big swings I've witnessed in GME options have happened primarily during extended hours. By the time I could do anything, it was generally way to late to catch that wave.
Are there brokerages that allow us to trade GME options during extended hours, and if so, which are they?
Thanks, Bob! Please keep these posts coming!
I'm very curious to hear more about how the Greeks factor into your decisioning process for selling covered calls and csp's.
I like to maximize my premiums while minimizing my risk of offloading the stock through assignment (on GME). other stocks, i'll actually sell ATM or slightly ITM to drop it if i dont want to hold it.... rare occasion though.
i try to time it when i think we peak when IV is highest. Its not without risk though. I lose potential profits in the event of moass.
Good advice. I would never gamble with all of my shares, but I happen to need cash at present, and there is absolutely a price point at which I would not mind being assigned if it happens.
Again, I'm referring to just a fraction of what I hold.
Like many of us, I never originally intended for my investment in GME to be tied up for years. As such, the passive income is worth the risk. I just want to make sure I've fully educated myself before I dive in.
Thank you also for the paper trading link!
My winning options strategy: buy when the stock is beat up or up at its highest. If price comes from -5% and recovers say to +2%, nets me a little bit.
I dont win a lot though because I FOMO in or I dont take profits fast enough.
For example: I got a lottery ticket buying one call for 44$, strike 100. I got it after the first peak. At the second peak, it went up from 0.44 to $7.48 per contract. Would have been a win then. BUT, it’s a lottery ticket I guess. We will see.
Thank you for sharing this great information. More for me to study, research, and learn!! I'm glad you took the time out to write this information out for us newer apes!!
Aren't most leaps on GME right now crazy expensive? Comparing some of DFV's old plays, they seem to be 10x or more the price for similar time and out of the money ranges.
I'm an options newb, but from the little I know and what I'm seeing so far, long dated calls seem super expensive lately. Well, most GME options seem super expensive right now I guess, not just the long dated ones.
It really just feels to me like it's a very high risk for relatively low reward options market on GME right now. I'm sure I'm missing a lot, but is that roughly the case?
We've had 3 fuckin years for us morons to learn how options move the markets. We have banned everyone that tried to teach us. Shame! Shame on us all. We could have made this happen 3 years ago.
Hey hey, Mr Smith. You’ve helped me before and I DMd you not too long ago, thank you for everything you do. You’ve been here a hot minute educating us and posting very accurate and intriguing DD that past years. Thank you for what you do and knowledge you provide 🫡
No I wasn't banned. I think the worst I got was a 3 day when I exposed jroland for the grifter he is.
Also not sure why I always get associated with pickle man. Never been on that team. He's smart but not my style.
Dude I have your whole series pulled up on tabs that I r been going through since the stock start bouncing up from $10. Thanks for writing it and thanks for coming back.
🥱 possible outcomes of options; win or lose.
Possible outcomes of DRS; win.
I choose DRS, every time.
Especially given this sub has descended into bullshit chart following and pro options conversions in a very short time. Highly suspicious.
All I'll say is, out of respect for the rest of the sub I don't speak on options. But personally, I do play with them from time.to time. Not yet a.pro, but sometimes you gotta lose to learn. I've done well as of lately though. But in all honesty, the other members, can look into them if it's something they want to do. It's a wild.ride for sure, and all I ask is be responsible. Never more than you'd be willing to lose. I also suggest not gme til you have a feel for them. We are dealimg.with a heavily manipulated stock, learn on a less likely one. Good luck to those that want to.educate themselves, and for the ones not I terested. You'll be alright, we got you covered on our side.
our side? same team bro!
different tactical forces.
otherwise. yes, you do you... but realize options can be SOLD too. as a way to take Kenny's money and buy GME shares with it... Lyrad talks about this a lot... and you can sell puts... where if you get assigned you are buying more shares at a lower cost basis....
You forgot to mention that mms sell options contracts and their algos are rigged to make sure you lose unless you’re ultra highly educated like dfv. They front run our trades.
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Options can be good. FUD and market makers forum slid this sub into thinking options are always bad as if RK hadn't been doing it the entire time and half the reason it blew up in the first place is because of the pressure it causes.
Options can be a good thing as a tool for a portfolio's risk management. However, giving a leveraged tool like options to an inexperienced investor is a recipe for disaster. Especially when investors try with OTM options and their gamble goes to 0. GME is highly volatile with high IV now. Are you going to learn about IV crush, time value, market manipulation all in one go? For every DFV, there are thousands of silent apes who lose on options. Remember it's leveraged, so the losses are magnified quickly if you get it wrong. If you still want to learn more, then read some books like Understanding Options by Michael Sincere. Great reading to learn the basic and advanced strategies. Lastly, get years of experience. You must learn from losses and wins, and then manage your future strategy accordingly. Wishing you all the best.
This comment right here 
I'm advocating education and paper trading. to learn the ropes. This is good advice!
What I know is that the hundred thousand bots and bought-accounts invading the sub this weekend, with zero history on SuperStonk until last week, have been posting hundreds of times per day trying to persuade apes to sell shares and buy options for a guaranteed quick path to riches. What I know is that between price manipulation and insane volatility, there has never been a worse ticker or a worse time in the history of the stock market for learning options than $GME in June 2024. What I know is that the SHFs have reached terminal desperation, because we’re winning and it’s the end game. Buy. HODL. DRS. Nothing has changed, shorts r fuk, no cell no sell.
its a great time to **paper trade** gme to learn how they work in an amplified time frame.
How can I paper trade GME?
Sorry for the silly question. Is it a fake account with dud money?
1) For every ape that actually has the time, and puts the time and energy into mastering Greek and adequately learning options, there will be more who just scan this post, find themself emboldened with false confidence, and place a call that’s sure to burn them. Some % of those will sell shares to do so, or lose shares selling covered calls. 2) Even if that wasn’t true, there’s simply not enough hours before lift-off, waking or otherwise, to get familiar enough with options trading on the most challenging stock in the history of the market (at the worst time in the history of the stock). The effort and time you put into this post are impressive, but it’s playing right into the SHFs hands. They want apes playing with options. This is known.
Lots of people are going to lose money and also Drs is going to slow down even more. Options are too risky for dumb apes.
hence the comment, read, learn, paper trade
too risky for dumb apes? For uneducated apes, maybe. But apes are smart. They use tools and medicine and educate themselves.
'Options are too risky for dumb apes' This is the backwards ass mentality that has previously knee capped this sub, it needs to end and if people have been sitting on their hands for 3 years not educating themselves about a core component of how the market operates and how to use all its tools available, they need to give their head a wobble. People aren't dumb in here, not if they educate themselves and follow good risk management.
how The actual fuck did this comment get downvoted?
RK doesnt sell covered calls or cash secured puts though... I dont see how it put pressure on the short sellers like what DFV does
OH HE DOESN'T DOES HE? How TF would you know? Also, if he didn't do just that, how would you explain the change in his cash position between yolo updates?
https://preview.redd.it/ra1whgmzj17d1.jpeg?width=1164&format=pjpg&auto=webp&s=5e86e3545aa33a498a99b9acdbb1c51c56c0a904
https://preview.redd.it/05xrc7n1g17d1.png?width=1080&format=pjpg&auto=webp&s=3815c4b94224ab50b6e84c4d03d3d0f4252120c1 Dave Lauer says options sellers DO have to purchase on a lit exchange. In believe this bc it's the only reason price is running. Regular stock purchases go to dark pools. We know this. Options are what caused Jan 21. Happening again now.
The thing you linked to is saying the contracts themselves are traded via exchange, not necessarily the underlying shares.
Dave Lauer is saying that when you buy/sell put/call it cannot be done off exchange. **However** the delivery of shares when you exercise can be done off exchange.
That is not what he said. Buying and selling the options contracts themselves is completely transparent and happens on a lit exchange. But if you sell an option, and the other party exercises that option, then you and the other party swap cash for shares in one direction or the other (depending whether it was a call or a put), and the only statement he makes about exercising is that it's a separate process. (What follows is a long explanation of how I believe things work. Not necessarily directed at you personally, but I wanted to explain it to myself so it's clear in my head. Please note that I am a complete newbie at options and may be wrong about any of this.) Suppose you and I are the two parties. I sell a $2 call for next friday, you buy a $2 call for next friday at the exact same moment. It's just a coincidence that we buy at the same time. We're not yet paired up in any way. These are two separate transactions with the market maker (apparently that's Wolverine...?) Because of the spread, our transactions occurred at two separate prices and the MM pockets the difference. For sake of argument, let's say you paid $30 and I got $29. (times 100 of course, so $3,000 came out of your pocket and $2,900 went into my pocket). But: they don't need to buy anything, because as long as I'm under contract to deliver 100 shares I'm the one taking the risk. Since my Broker doesn't trust me, they wouldn't have let me sell the call unless I actually have 100 shares in my account, and I basically can't sell them until the contract expires. -- That's why the call is "covered". Anyway, at some point next week you decide to exercise your $2 call. You've already paid $3,000 for the contract and now you pony up another $200. Wolverine now has to deliver 100 shares to you. They could take those shares out of their own pocket if they wanted to (and they have them), or they could look at anybody who has any short call contract for any price or expiration date, and exercise their option. Since they have your $200, and I sold them a $200 call, they choose my contract, and take my shares. Suppose at that particular moment the price of 1 GME share is 42 trillion dollars. Do you think everyone would see the price suddenly drop to $2 for one tick? What about $29 or $30 or $31 or $32? Presumably, options get exercised all the time at prices under the current stock price. Where do we see those transactions? The answer is we do not see them at all. What we do see is a change to the volume on $2 calls for GME for next Friday, and then the next day we can also see a change in the number of open contracts (open interest). Nothing we hypothetically did here moved the price at all. Our actions cancelled each other out. What's different with DFV is that he didn't just buy one option. He bought 120,000 calls. Which means Wolverine sold 120,000 calls. Which means they either need to buy 120,000 calls or have DFV sell those calls back, OR buy up to 12 MILLION actual shares to hedge against the possibility of DFV exercising. (And of course it was more than that because a bunch of other people piled on and bought more calls). It's that lack of balance combined with the threat of the contract owners exercising that forces the Option MM to either enter more contracts or buy GME shares (and maybe even have to sell other things to raise money to buy GME).
Bob, Thank you for this. It been....disheartening to watch a lot of misinformed people making decisions about things like executing OTM options and not understanding how the greeks work. I've wanted to write something for awhile now, but you know... life happens. Hopefully people will read this, ask questions and grow a wrinkle or two.
I'm hoping this is just the beginning of something great
This is the hedge fucks worst nightmare. The one thing they did successfully was convince people to not buy options. They cannot withstand a bunch of regards with the knowledge on how to use this type of leverage. Thank you Bob
I am ready to grow some wrinkles and take a look at how to use options to then DRS as much as possible this summer.
I do both. I make money from options and use that money to buy shares to DRS. IMO the subs biggest failing has been thinking that DRS and options were mutually exclusive.
This is what I just realized (as it seems we all have). I've got enough shares locked away that it seems outright dumb not to learn and finesse options. All the great DD over the years (yours included, legend) has given me the wrinkles needed to be confident in this venture.
Some of us been at it for a while lol https://www.reddit.com/r/Superstonk/s/KS8cOQwwOT U/hedgekillerprimus you still around?
If you don’t mind my asking, I’m looking for my next special interest and have very little money to start with outside of the shares I already own. Is this how you make all your income? How much did you start with and what’s a comfortable initial investment to not bottom out on a few unlucky ‘learning experiences’?
Unless you really know what you're doing, you shouldn't exercise any options early, itm or otm. If you no longer value the optionality of an itm call, one good method is to sell the same strike put. That will give you extra cash and ensure you get 100 shares at expiration. The downside is pin risk.
Bob laying down the smack on options. Always appreciate your posts Bob! GME is a hard one to predict!
it's getting easier. I had the march run on my calendar about 3 months out :D
What's on your calendar for the next 2 weeks? 😁
I actually posted my expectations about ~~2 or so weeks~~ a month or so **ago**
Where exactly, link? Your post history doesn’t show anything from “2 or so weeks ago”.
Link?
Then link it, is it that hard for you to find your own post? Others are struggling to find what you're referring to here.
I see. EDGE me harder than Daddy Cohen and make me go look!! 😂 Much love to you OP. YOU a REAL one! Pepperidge Farms ain't the only one with an ELEPHANT MEMORY around here!! I 'MEMBER!!!¡ 84 to 741.... I'm ready. Let's Ride!
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RawPancake here is a RawFact: You are 100% correct! I also went to look on his profile, where HE directed me to search, and I found the exact same thing you found: NOTHING re his claim answering my question! WTF "There's some ho's in this house!" 🤨 Stay Frosty RP! VICTORY is INEVITABLE & NIGH!!
I actually purchased 20 calls 20$ strike on February , made hella money , exactly like rk , bought 500 shares and used the rest for bills and life shit, i was afraid to post my gain porn because yk "options" , it was literally my 1st time into options... definitely not the last .. bought 65$ and 125$ strike...... no regrets.... i believe i can double my gme shares by the end of year ... maybe earlier 🤷🏻♂️🤷🏻♂️
Theta is your friend. 🤙 Congrats on the win
Commenting for future reference
Ditto (the Pokémon)
What Denny said.
You can "save" posts too lol
Don’t diamond hands options 🤣
what is happening on the sub is beautiful. retail is about to become empowered. the days of calling ourselves regarded are almost over. screw the memes, we want big brains not smooth brains. time to put the effort in and learn so we can all make money while we are in the infinity squeeze. oh, and get more shares.
There was a numerology post on the front page today. Best regards, but the dumb shit is not over yet.
oh no lmao
I was going to blow 2 grand on some DRSed shares. Maybe I'll try some options and burn it up there.
lol
Hi Bob, long time no see! Just wanted to say hi. Don't worry, I'm going back to read it now!
hi Ape. Unlikely meeting you here!
Wow, an adult checking in on us!
Uh oh, time to behave!!!
Bob, I'm so happy to see this here! I just finished It's All Greek To Me last week on another sub and I really appreciate the time and effort you put into educating. It's a great series and I hope others will receive it openly.
Ohhhhh snap. This renders my series totally worthless as this is so much better. Thanks for sharing! I’m very excited to try the wheel
Excited af for both of your posts! Thank you for your effort, it goes a long way. Education is king. DFV is clearly well versed in the intricacies of options. We will be too. And that's what the market fears most.
Okay I’ll keep it going then haha - didn’t quite finish part three today
Been using options for a while but its good to see 1 well put together post for anyone to grasp, if i was starting out it would be helpful. 👍
Options are essentially just leverage. The premiums right now are really bad to be buying options. RK timed everything very well by buying calls in late April/early May. Premiums were at an all time low and he bought mainly ATM and NTM calls. You gotta know what you're doing and timing is everything. Most options plays are going to fail. The farther OTM you go, the more likely it is to fail, hence the cheaper premium.
Agree with elevated premiums right now. What is this failure? Not ending in the money? There is more to options than simply buying short dated far OTM calls...
I applaud your persistence, good on you!
If you sell calls you risk losing your shares. Don’t sell call unless you’re wanting to sell at the strike price
A caution to everyone here: if you believe in MOASS, don’t sell covered calls over your GME shares. If you do, and MOASS triggers, you will be stuck selling your shares at the strike of the call you sold. There won’t be a way to “roll” out of this. This is what is means by picking up pennys in front of a steam roller.
Thanks Bob. Can you help me explain the risks behind selling covered calls. If I have 100 shares of GME, does that mean I can make money by doing nothing? I think I understand that someone can exercise on me and I'll end up with cash instead of shares if I understand right. Would that mean I could miss moas? Thx dad
I have a whole writeup on that - 2nd in the Its all Greek to Me series. for more clarification go there. Link is in the OP buuut, quick explanation: you have 100 shares at $15 cost basis because you've been buying and holding and averaging down right?... right? * anyway, so you decide to sell a call at 40 strike tomorrow morning, expiring on Friday. * you collect the price of the option \* 100, lets pretend without looking that its like a buck or something, so you collect $100. This is yours to keep. * if the stock does not close at or above 40 (and you're regarded and don't buy it back on friday before close), you keep your shares too. * if the stock is above 40, you will be exercised most likely and your 100 shares will be sold for $40, netting you 40\*100 = $4000. * You can immediately on the next monday, buy more shares or sell a put with your capital. * There are lots of management techniques to keep your shares such as rolling and buying to close, etc... i'll get into that in a future post if this one is received well, as i don't want to waste my time.
On behalf of the class, I think we would all like to take summer school with you please
Buy and hold meant buy *options* and hold *those shares*. Fuuuuuuuuu
Selling covered calls isn't money for nothing. It's money for the right to buy your shares at a given price on or before a certain date. If the price is below that price at that rate then yes you got money and they did not end up getting your shares. If the price goes above your strike price on the option you can either wait for them exercise or if the price goes down do nothing, or you can by back the call, for a loss most likely, to avoid having to sell your shares. So if moass happens while you have covered calls active you will likely have your shares called away and for far below "market" value at the time.
This is my worry about covered calls with GME. I don’t want to lose my moon ticket trying to gain a few bucks on covered calls. I would rather learn, and then try covered calls on a dividend stock with less volatility. Not fully sure if that is wise yet?
You're not going to make money on stock with low volatility. The higher the IV, the better the premiums. Selling CCs are risky and, personally, only worth it if you have a lot and are fine with risking some. You can roll them out to a higher price but when MOASS comes you won't be able to outrun it. Maybe a year or so out? Dunno, but why learn the hard way. You can still sell Cash Secured Puts though and rake in cash until forced to buy. That requires enough money to buy 100 shares at whatever strike so not possible for everyone. Lots of great strategies we all could have been using to increase our bag over the last 3 years if it wasn't for all the FUD towards options, which I too fell for.
If you sells covered calls and the stock rises to the price where your shares get called away, that's known as "max profit" because you collected the options sale premium and sold the shares at what you agreed upon strike price. It's generally not advised to sell covered calls at a stroke below your purchase price unless you are comfortable taking a loss on that investment.
No way in hell I'd EVER consider selling covered calls. You're putting 100 shares at risk to make like a couple bucks a share. Bonkers. You'll be all happy with your couple hundred bucks here and there, then all of a sudden the rocket launches. I definitely could see Hedgies trying to harvest shares from covered calls too. They have access to order flow and see that info. I bet they are already hunting for them like they do with stop losses.
I don't know about you... but it's sure is strange seeing support for selling covered calls right now. Who knows what the technical term is, but.. GME is making a HUGE as fucking reversal. Selling covered calls now? Fuck out of here with that lol.
"Probably the best (most responsible) way to get your feet wet with options is to sell calls, covered by your shares..." nah im good. good read on options though.
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I'm not framing shit, but I am aware of the current interest in the subject and annoyed with the misinformation flying around, so I made a post to help educate. It's not my first and won't be the last 🤙
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Don’t sell covered calls unless you want to sell your shares. And in general don’t buy options that you don’t plan to exercise.
You're all about to lose a lot of money. Buy. Hold. Stonks.
I’m sure like me you never left…….but welcome back bob always liked you dd even though I can’t understand it
Yeah i've been here, lurking this whole time.
DO NOT FUCKING SELL COVERED CALLS NOW, WTF, he's recommending it for people that don't know what they're doing. It's a fantastic way to LOSE all your shares at an undesirable price. The time for covered calls is over.
I'm not advocating that. Please reread the post if you misunderstood. The only mention of CCs is in the context of learning how to options IN A PAPER TRADING ACCOUNT. Further, I explain you need to be willing to let the shares go at the strike you sell the call at. You obviously believe in moass and I hope you are right, but I'm not afraid to take gains where I see them... It's what has helped me become a xx,xxx holder. I only had 10 shares to begin with in 2021... At a very high cost basis. All that said, I agree with you... Don't sell CCs if you are uncomfortable with the idea of selling your shares at the strike price.
This seems a less than optimal time to post something like this if it gets buried please post again - hopefully knights of new will do their work
seems like it's taking off faster than most posts this weekend.
Bobs an OG ape, obviously. Mods approve. It feels like 84 years ago...
!remind me 7 days
Granted, I understand so much more now than I did in 21, but I'm still nowhere near being qualified enough to do options. So buy and hold is all I trust myself with.
All the top comments in this thread praising the Options > DRS message are by accounts brand new to SuperStonk. Look at the histories, folks. Believe your own eyes.
Fuck off Bob. lol
More options guff and forum sliding. Don't waste your money or risk it, just buy and hold, drs and play it safe. Options can fuck you!
It comes back to the point that anyone who can and wants to do options already is. People shouldn't be *encouraged* to do options because they're easy to get wrong, especially the Covered Calls point (picking up pennies in front of a steam roller) and Bob's evasive answering to that very reasonable issue.
Precisely, the scale of this emerging sentiment about trying out options is just as worrying as the evasiveness of OP, not something to be taken lightly!
Taken in good faith I can see education only as a good thing. The issue are the more opinionated aspects of the post, which aren't necessary and that's the concerning part.
Education is always a good thing, pushing options on people on the scale that this sub is experiencing, far less so.
Ima learn how to read and come back to this
Exercise your ITM calls. I’ve been doing it since late February 2021 💎🙌🚀🌙
That looks nice and all Bob but I think you forgot, at least in my case anyway, we should learn to read first!
Okay, MOASS never left the table; just sayin. There’s been an eerie quiet here and I think this DD just kinda bitch slapped me back to my 2021 roots, I shall be investigating and taking this shit seriously (with no money lol) but maybe if the price continues to show volatility, with gains incoming, I may be able to be in a position next year or two to start actually leveraging options. Who knows. I’m scared to put money into options still cuz I’m barely getting by but I will start actually learning about it now, thanks!
if you have 100 shares or more, you can make money with them through options - read the series i posted here and you'll understand how. you can use that money to buy more gme and keep riding this gravy train until valhalla.
Make money, but pay your taxes people.
Holy moly, an actual good options post. 2024 really has been 2021-part-2
Thank you for the post. I skipped the paper trading in lieu of learning the hard way. Have come to the conclusion that regardless of the stock you still have to beat the market’s projection. I see premiums very much like point spreads. It looks easy when there’s a blowout but how many times can you predict that. Realized belatedly that buying deep itm calls was a safer, albeit less sexy, way to make money but then bought rivian earlier this year and it tanked. Of all things Gm revised me and am trying very hard not to just go chase the latest craze.
My favorite setup is doing what I call bob smith spreads.. I let in during periods of volatility and end up with things like bull call credit spreads lol. Also calendars. I go hard on leaps when IV crushes our and just wait for a pump and sell the IV against them in a 1:2 or 1:3 ratio. This recent pump on GME has all my leaps paid for and then some.... Sitting on a grip if 25s right now call side for Jan 2025 with an effective cost basis of like -20 and dropping lol .. meaning Kenny **paid me** to take a long position in GME to the tune of $20 per share ...
I'm way two stopid to reed dis
Eat cray-onn first, much helpp.
Take it 1 word at a time. I believe in you
Rule 901 in the OCC rules (c) It will ordinarily be the policy of the Corporation to cause settlement of exercised stock option contracts and matured physically-settled stock futures contracts for CCC-eligible securities that are scheduled to be settled on the first business day after exercise or maturity to be made through the facilities of the correspondent clearing corporation in accordance with the rules and procedures of the correspondent clearing corporation. If such settlement obligations are reported to and are not rejected by the correspondent clearing corporation prior to the time when it becomes unconditionally obligated, in accordance with its rules, to effect settlement in respect thereof or to close out the securities contract arising therefrom, the Corporation shall have no further obligation in respect of such settlement obligations. However, the Corporation may in its discretion determine to alter this policy in particular circumstances. (d) A specification in any Delivery Advice that settlement is to be made through the facilities of the correspondent clearing corporation pursuant to this Rule 901 may be revoked by the Corporation at any time prior to the obligation time by an appropriate notice to the Receiving and Delivering Clearing Members. In the event of such revocation, delivery and payment shall be made in accordance with Rules 903 through 912; provided, however, that the Chief Executive Officer or Chief Operating Officer, or, if it is not feasible for the Chief Executive Officer or Chief Operating Officer to take such action, then a Designated Officer of the Corporation may, upon the application of the Receiving or the Delivering Clearing Member, extend or postpone the time for delivery to a date not more than one business day after the date of such revocation.
Even an ape in nanakuli understood this 🤙🏽
Chee hoo!
Hey Bob - just saying thanks for this. I’m planning to come back and get my knowledge on when life is a bit slower
Comment to remind me later, thanks for the info
Wow. Great write up. Thank you.
Thanks so much for this, Bob. I've been looking for something UNDERSTANDABLE for a while, and this is it. I've been wanting to play with options for some time now and this might be the push I need. Thanks for talking about the importance of paper trading, too, that's very important to play with to see how things can play out!
Thanks for reading!
Thanks for this information. I’m ready and willing to learn options better. Please keep the educational posts coming.
Yeah I fucked up last week. I was selling covered calls and was up roughly 1200 last week if I let it ride but I bought it back and then bought calls at the weekly high and got burned. Oh well. I’ll try and sell my calls I bought at a close to buy price and then use that price to sell some more covered calls and get my money back
don't chase with options. don't fomo with options. gonna add those to OP
I feel personally called out by those first 2 statements....
Thanks for the write up, but all of this timing seems odd. I’ve been around since November 2020 and know exactly who you are, but why now?
Why not now? And what do you mean by odd and what are you inferring here?
Why not publish this before RK returned? Odd being that there is a huge option push during insane volatility where people that have never used them are jumping in and losing money. I’m inferring that it’s weird timing, that’s all. I know your username I have been through it all. I’m not saying options are bad if used properly, I’m just saying it’s weird timing.
Ok so the question is why try to educate apes on options now? Well there's a few reasons: * I have been trying for years to help apes understand and be open to understanding options. I've been met with unending skeptizism of my motives (simply helping educate and provide data) and downright hatred for posting options stuff in the past. * The sentiment on the sub has changed recently and it seems to be interested in learning about options. I thought a level fact driven set of information woiod be useful to the sub. * With DFVs options positions in the yolo updates being the star of the recent show. People are looking for answers and I've seen some really REALLY bad answers gaining reaction here. I wanted to jump in with real information backed up by data in a way people can digest and learn... So they don't go off and do stupid shit like chase with calls in high IV environment. I say this in the OP, which I'm not sure you read at this point in the conversation. Perhaps did you just see options and have a knee jerk reaction here? * People need good information on options and that is what this post and the series is intended to be. You are right to be guarded. But I've been around a loooong time and only tried my best to help. Even then people change so don't trust me based on my legacy. Look at the content of the post and digest what I have said here and your mind should be at ease. If not please let me know what I can further clarify for you.
So can you buy a super cheap long term, far ITM/OTM contract and buy/sell today?
please elaborate what you're trying to do here and why
Just a hypothetical question But the super far out options that expire in like 1-3 years are super cheap. Would you be able to buy one today and say the price hit like (idk) $50 on Monday, could you immediately buy or sell it? Or would u have to wait for the 1-3 years to go buy?
Nice! 🚀🚀🚀🚀
Cuming back to this
I’m saving this for my second round of my prescription 😅 I’ve wanted to learn options but even when people ELIF, I’m still ???????? Excited to read, question, learn, and grow.
Is there a way to save a post on this social media platform?
Click 3 dots on top of post, click save. Tick!
Thanks!
It’s a good post to save 👌
It’s a lot to take in all at once
Always appreciated your DD Bob
I've also discovered that at the two brokerages I've tried so far (ETrade & Fidelity), neither would allow me to trade options in the extend hours, despite being set up to trade equities during extended hours. From what I read, it seems they simply don't support extended hours options trading for some tickers. This seems like a big gotcha I haven't seen mentioned anywhere yet, as most of the big swings I've witnessed in GME options have happened primarily during extended hours. By the time I could do anything, it was generally way to late to catch that wave. Are there brokerages that allow us to trade GME options during extended hours, and if so, which are they?
Not a single person in here I recognize
Ain’t it funny?
Thanks, Bob! Please keep these posts coming! I'm very curious to hear more about how the Greeks factor into your decisioning process for selling covered calls and csp's.
I like to maximize my premiums while minimizing my risk of offloading the stock through assignment (on GME). other stocks, i'll actually sell ATM or slightly ITM to drop it if i dont want to hold it.... rare occasion though. i try to time it when i think we peak when IV is highest. Its not without risk though. I lose potential profits in the event of moass.
Good advice. I would never gamble with all of my shares, but I happen to need cash at present, and there is absolutely a price point at which I would not mind being assigned if it happens. Again, I'm referring to just a fraction of what I hold. Like many of us, I never originally intended for my investment in GME to be tied up for years. As such, the passive income is worth the risk. I just want to make sure I've fully educated myself before I dive in. Thank you also for the paper trading link!
Commenting for later reference when I can read this at work and get paid to learn how to early retire from that place
Underrated comment 😸
My winning options strategy: buy when the stock is beat up or up at its highest. If price comes from -5% and recovers say to +2%, nets me a little bit. I dont win a lot though because I FOMO in or I dont take profits fast enough. For example: I got a lottery ticket buying one call for 44$, strike 100. I got it after the first peak. At the second peak, it went up from 0.44 to $7.48 per contract. Would have been a win then. BUT, it’s a lottery ticket I guess. We will see.
Thanks mate
❤️
I sense some wrinkles here. I’d gladly read all of this but it’s my day off. Commenting here so I can loop back later when I’m supposed to be working
Is there a way for me to save this?
Yes! Three dots in top right corner (on the app anyway) next to your profile pic. Brings up options, one of them is “save” 🚀🚀🚀
on the post, select the share button and then hit save
Thank you for sharing this great information. More for me to study, research, and learn!! I'm glad you took the time out to write this information out for us newer apes!!
Good explanation. I hope many Apes catch on quickly 🐒🐒🐒🚀🚀🚀
Good post
Love you bob!
Bob how about LEAPS ?
I love leaps(and DFV seems to like them too)... my favorite options setup involves calendar spreads.
Aren't most leaps on GME right now crazy expensive? Comparing some of DFV's old plays, they seem to be 10x or more the price for similar time and out of the money ranges. I'm an options newb, but from the little I know and what I'm seeing so far, long dated calls seem super expensive lately. Well, most GME options seem super expensive right now I guess, not just the long dated ones. It really just feels to me like it's a very high risk for relatively low reward options market on GME right now. I'm sure I'm missing a lot, but is that roughly the case?
If you check out the term structure there are decent entries. But yes it's elevated. There will be better entries when vol slows down a bit
We've had 3 fuckin years for us morons to learn how options move the markets. We have banned everyone that tried to teach us. Shame! Shame on us all. We could have made this happen 3 years ago.
I'm stubborn
Had to save it for later... thanks for the effort, gotta read it when im not drunk.
Thank you Bob, as a beginner, this is really helpful and easily digestible read for an idiot like me.Cheers
Post saved, coming back to this when i digest it properly. Thanks OP
Thanks for the options guide bob
This is well written and thoughtfully put together. Thanks for the informative post!
You're welcome. I hope it's helpful
Hey hey, Mr Smith. You’ve helped me before and I DMd you not too long ago, thank you for everything you do. You’ve been here a hot minute educating us and posting very accurate and intriguing DD that past years. Thank you for what you do and knowledge you provide 🫡
Glad to be of service
Interesting. Ty.
Must learn
Saved
Commenting for later
Ok options man do we moon next week or what
🎱
Oh this is fucking great thank you so much, i will continue reading tomorrow, ive been needing something like this 🙌
Commenting to read later, still going hard for father's day. Appreciate the post though, I skimmed and felt a baby wrinkle twitch.
Commenting so I can forget to read later
Weren't you banned with the pickle? How you get back in? Yay welcome back
No I wasn't banned. I think the worst I got was a 3 day when I exposed jroland for the grifter he is. Also not sure why I always get associated with pickle man. Never been on that team. He's smart but not my style.
I’m commenting so I can come back and read all of this later when I’m not tired. Thanks.
Commenting to come back later after sleep
Commenting to find this later. Thanks bud
Dude I have your whole series pulled up on tabs that I r been going through since the stock start bouncing up from $10. Thanks for writing it and thanks for coming back.
Ok which one do I buy
Thanks Bob
Thanks my dude
🥱 possible outcomes of options; win or lose. Possible outcomes of DRS; win. I choose DRS, every time. Especially given this sub has descended into bullshit chart following and pro options conversions in a very short time. Highly suspicious.
All I'll say is, out of respect for the rest of the sub I don't speak on options. But personally, I do play with them from time.to time. Not yet a.pro, but sometimes you gotta lose to learn. I've done well as of lately though. But in all honesty, the other members, can look into them if it's something they want to do. It's a wild.ride for sure, and all I ask is be responsible. Never more than you'd be willing to lose. I also suggest not gme til you have a feel for them. We are dealimg.with a heavily manipulated stock, learn on a less likely one. Good luck to those that want to.educate themselves, and for the ones not I terested. You'll be alright, we got you covered on our side.
our side? same team bro! different tactical forces. otherwise. yes, you do you... but realize options can be SOLD too. as a way to take Kenny's money and buy GME shares with it... Lyrad talks about this a lot... and you can sell puts... where if you get assigned you are buying more shares at a lower cost basis....
You forgot to mention that mms sell options contracts and their algos are rigged to make sure you lose unless you’re ultra highly educated like dfv. They front run our trades.
Finally some good fucking food. The post we desperately needed with the "exercise your calls xD!" comments we were having... Thank you Bob.
I couldn't just sit idly by and watch that shit anymore lol. Glad you get it.
LFG options have been bought what do I do with my hands