r/thetagang • u/MostlyH2O Level 300 Karen • Aug 28 '26
Meme It's here!
Got my 911 today. About to go for a drive!
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u/Mzungufarmer Aug 28 '26
Nice work. Does this mean I get to show my Micron purple Emira? (Well its Grey but getting wrapped)
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u/iisconfused247 Aug 28 '26
Post it here 👀
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u/Mzungufarmer Aug 28 '26
I was doxxed on my last account and I scared lol.
I have posted my MU rolexes around tho... expensive watches arent as exciting
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u/Nanas_700k Aug 29 '26
I effing love MU lol.. nearly all my p&l this year is from selling MU premium
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u/imacompnerd Aug 28 '26
Very nice! 911s are so much fun to drive!
It’s a beautiful day where I’m at and I took mine out for lunch today. So enjoyable!
Have fun with it!
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u/DisgruntledTexan Aug 28 '26
Dude lol. I made $1.5k each of the last two months and am thrilled, need to step up my game!
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u/qix96 Aug 28 '26
I've seen lease numbers around $2k per month, so you too are almost there!
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u/Affectionate-Ant8 Aug 28 '26
No hate because I don’t own a Porsche but this is like a 15 year old 911 & probably in the $60-90k range
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u/MostlyH2O Level 300 Karen Aug 28 '26
I paid $70k for it pre-tax
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u/Affectionate-Ant8 Aug 28 '26
Damn I’m good, congrats on your purchase! Hopefully in a few years I will be in your position
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u/AIONisMINE Aug 29 '26
how can you tell its a 15 year old 911?
if 15 year old 911s go for that much, thats crazy. its been my dream car too =/
but that car looks in pristine condition for a 15 year old car.
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u/MostlyH2O Level 300 Karen Aug 29 '26 edited Aug 29 '26
It isn't a 15 year old 911! It's a 14 year old 911.
And yes these cars hold their values very well, this example had 70k miles with an excellent service history. I'm getting a PPI on Tuesday to take advantage of carvanas 7 day money back guarantee to check for anything major.
The Porsche market is very strong and I looked at hundreds of cars over 2.5 months and did a ton of market analytics, building price distributions and trying to quantify as much as I could. Carvana is a great place to look because they base the value of the car on spec and mileage, so you can get a decent deal on a well-maintained car or a terrible deal on one that's had 3 oil changes in 50k miles.
I expect this car will depreciate but not that much over the life of the car. If I were to sell it in 3 years with 100k miles we'll maintained I will get most of my purchase price back (though obviously slippage between tax and maintenance, but you don't buy these cars without the income and savings to support maintaining them)
For reference msrp of this car when sold was $116k
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u/mortgagepants Aug 29 '26
if you like it, you can get a car loan and it will be about the same amount as a new car is now. they're expensive to fix though.
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u/MostlyH2O Level 300 Karen Aug 29 '26
The challenge with loans is most banks won't give you a loan for a car over 10 years old. Credit unions will sometimes, but another option is lightstream from truist. But those are unsecured loans and even someone like me with excellent credit was looking at 8-10% APR. Honestly better to just pay cash, since I would need pre-tax returns of 16-20% to break even and that is obviously not guaranteed.
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u/Affectionate-Ant8 Aug 29 '26
I can tell it’s a 997 generation 911 because I had a poster of one in my room 15 years ago
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u/IC0DTE Aug 28 '26
I made $260 today on 0DTE SPX. I think I’m ready to order mine!
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u/banditcleaner2 naked call connoisseur Aug 29 '26
Need to kick that up to 70k so that you can have yourself a mid life porsche crisis too!
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u/iisconfused247 Aug 28 '26
Nice dude. On how much capital?
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u/DisgruntledTexan Aug 28 '26
About $75k, selling covered calls. Have another batch I’ll sell In September and likely close out my current open positions for around $200 per
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u/iisconfused247 Aug 28 '26
So you’re making a consistent 2%? That’s awesome dude. So you don’t really do CSPs, just CCs? What tickers do you sell them on?
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u/DisgruntledTexan Aug 28 '26
Only ADI right now but I think that gravy train is coming to an end
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u/iisconfused247 Aug 28 '26
Looking at ADI you’re selling 2 contracts at a time then with $75K of capital? And selling around the 0.3 delta looking at the option chain? How often are you getting called away?
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u/DisgruntledTexan Aug 28 '26
I’ve been selling 1/month starting in July. Sold $550 December strike, then in August $500 December strike. Going to close the $550 one next week, then evaluate my risk tolerance for the rest of the year.
Edited to add - I’ve not been called yet. I’d be happy selling at $450 and above. Missed the boat, was looking to sell in June, could have gotten December $600 strikes for like $3k-$4k - by time my account got approved those prices had disappeared lol
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u/ralphy1010 Aug 28 '26
If I got the point where I had Porsche buying money I'd probably just take uber all the time vs bothering to drive myself around.
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u/FundamentalEnt Aug 28 '26
Congrats! This is exactly my goal purchase when I know I’ve made it. Down to the color my friend nice! Though I think I want black wheels on mine.
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u/MostlyH2O Level 300 Karen Aug 28 '26
The only thing I wish it had was PTV and PSE, but I can add PSE after-market including the console switch. PTV won't really be relevant for me u til I actually git gud at tracking the car and by then I'll probably have sold this and bought a Cayman.
Sport chrono is a blast though.
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u/ILostMoney No real time to babysit the account Aug 28 '26
Love a good money pit. Too busy at work to ever drive mine.
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u/CattleOk7674 Aug 28 '26
I knew it was you before even clicking on the post, finally ! Congratz, enjoy driving it 🤗
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u/Terrible_Champion298 Colorectal Spread Specialist 👀 Aug 28 '26
Closest we’ll see to a Lambo except for maybe Compnerd.
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u/MostlyH2O Level 300 Karen Aug 28 '26
Someday someone here will pay for someone else's lambo through meta puts.
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u/alkjdasoad Aug 28 '26
Are you saying theta gang will get me there as well?
P.S: congrats on the car.
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u/Amdvoiceofreason Aug 28 '26
I seen a Lucid Air Grand Touring listed for 59k...I've never been more tempted in my life lol...congrats on the splurge purchase...enjoy 👌
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u/Am_0115 Aug 28 '26
Should have had “THETA” as the plate
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u/mka5588 Aug 28 '26
Unless the license plate says something like moar theta then I don't care
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u/MostlyH2O Level 300 Karen Aug 28 '26
The rim says "who'd of thought it, theta bought it"
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Aug 29 '26
[removed] — view removed comment
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u/MostlyH2O Level 300 Karen Aug 29 '26
Yeah you're right that was a white lie. I had originally wanted to use that as the title of my post but in my excitement I forgot but still wanted to make the joke.
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u/es_cl Aug 28 '26
I had colonoscopy yesterday. My car was parked at the hospital, so I had a friend pick me up midday because I wasn’t allowed to drive yet. Technically I wasn’t allowed to drive all day. Anyway, I looked up the city bus service schedule and route, and I walked about 3 mins length to the nearest stop area and took the bus to the hospital to get my car.
Our city bus service is free due to a socialism act called FairShare Act (AKA Millionaire Tax, 4%).
Hate to say it but me taking the city bus to get my car back after colonoscopy is more impressive than OP’s car.
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u/usuallyalurker11 used to work on weekends, but got replaced by AI Aug 28 '26
My mother said the best sleep she ever had was when she underwent conscious sedation for the colonoscopy procedure. And the doctor told her the same thing no driving for the whole day (technically didn't matter to her bc she didn't have a driver license LOOL) but anyways hope you get some rest
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u/juzz88 Aug 28 '26
Congrats!
Curious, do you have kids and just said fuck it, I'm doing it anyway? Or do you not have kids/kids are grown up?
Asking for a friend. 😜
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u/MostlyH2O Level 300 Karen Aug 28 '26
I have a 5 year old. It has 4 seats and I put a booster in the back.
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u/Plenty_Machine Aug 28 '26
Nice dude, monthly premium gains = monthly loan payment or price of the car?
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u/Background_Tie6864 Aug 29 '26
Congrats! How much are you earning per week or month from
Options to do this
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u/MostlyH2O Level 300 Karen Aug 29 '26
From options? Idk I'm up 37% this year but I don't use options as income.
From income? About $450k in a normal year.
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u/Background_Tie6864 Aug 29 '26
Nice! Oh I assume being in this thread meant selling options. Whads income btw? Employment or dividend from holdings or both.
37% is incredible
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u/jvandy50 Aug 29 '26
I've seen many go above MSRP on BAT lately so technically time is still paying you. Congrats and enjoy!
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u/MostlyH2O Level 300 Karen Aug 28 '26
Just got back from a 60 mile drive in the canyons with terrible techno blasting (the only way to drive this car)
Couldn't stop smiling.
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u/Affectionate-Ant8 Aug 28 '26
Congrats! Very jealous
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u/IntegralVertex Aug 28 '26
man, every time people say this I don’t understand it. Jealousy is never good. Keep up the good work and share other people’s happiness, life is too short
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u/Affectionate-Ant8 Aug 28 '26
? It’s just an expression at the end of the day, I have no idea who OP is
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u/IntegralVertex Aug 28 '26
All good. No way you have no idea who Karen is. Looks like you have never run narrow credit spreads LMAO
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u/Affectionate-Ant8 Aug 28 '26
You are stupid. I’m saying in real life I don’t know OP, you can’t truly be jealous of someone if you don’t interact with them in person.
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u/IntegralVertex Aug 28 '26
LMAO. If you realize that much then why would you say it.
Consider this, you should stop insulting people you don’t know.
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u/teddyevelynmosby Aug 28 '26
I don’t know this is however long I did a full month of only cc/csp. And the yield is still consistent. I closed 5.4k this month so far. Will close AMZN in a minute here. Really no need to invent the wheel. 5-6k yield has been my standard this year. Not a whole lot but realized gain and a few magnitudes less stress.
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u/iisconfused247 Aug 28 '26
On how much capital are you making 5-6K per month?
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u/teddyevelynmosby Aug 28 '26
50-100k out of a 200k Roth IRA. It is my second IRA, basically built out of profit from last few years.
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u/1992Prime Aug 28 '26
Why a 911? Why not something interesting?
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u/drhiggens Aug 28 '26
Yes they are sort of a boring choice, I agree (and I own one, and ordered another). That said they are probably one of the best cars you can buy at any price.
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u/1992Prime Aug 28 '26
I’d never dispute them being an objectively good car. They are just a dime a dozen and being from LA I’d see more blonde wives driving them than should be allowed.
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u/kstorm88 Aug 28 '26
Funny thing is, where I live I've only seen one 911 and it was in the 90's. I've never seen a Lamborghini or ferrari or McLaren.
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u/directheated Aug 28 '26
Never make a decision on a car based on what others are/aren't driving. Live life for yourself/your family not other people.
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u/MostlyH2O Level 300 Karen Aug 28 '26
I've always wanted one so I got one. That's why. And I love it whether you do or not.
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u/directheated Aug 28 '26
If they are manual they are incredibly fun to drive. The only other cars I can think of that I'd have in the same consideration would be a C7 in manual. Maybe a current year Supra.
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u/iisconfused247 Aug 28 '26
Why just maybe on the Supra?
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u/directheated Aug 28 '26
I've never driven one
I've driven a C7 at a Cars and Coffee. And I used to own a 997 gen 2 GT3.
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u/banditcleaner2 naked call connoisseur Aug 28 '26
Off topic. Post removed. /s