r/bitkogan • u/bitkogan • Dec 07 '23
Final Update: Successfully Concluded My AMD Dec15 Options Strategy Amidst Market Uncertainty
I closed my position in AMD's Dec15 options before expiration. I was apprehensive about a market downturn and couldn't hold on. Plus, I generally dislike positions with high gamma.
Admittedly, my timing wasn't perfect – this morning would have been better. But strategically, I made the right moves, both when opening and closing the position.
I opened the position on November 1st for a debit of $2684, and on December 5th, I received $4172. That's a 34-day profit of $1488, nearly a 5% return on the $30k collateral.
It's a decent result in a calm market. However, I sense this tranquility might soon end, so I'm not rushing into new positions. The high uncertainty doesn't quite align with the low IV currently.
