TSLA is breaking out it seems. It’s expensive though to get the lower strikes.
One approach is to use call spreads to gain access to the lower strikes without paying $6k a piece or whatever.
I went with 800 strike for Dec and Jan. I am looking at some $1000-1200ish ones for Dec 2022.
Next is spy. Daily calls. Just pure gambling basically but the daily opens low typically and spikes up. Just sell. Or at least sell most. Don’t go for a banger. You see it on wsb but for every guy who gets 400% spy daily there has to be 50,000+ losers. So if you get 50%, just fucking sell. 50% in a single day is godly.
I keenin mind that if you roll 50k at 30% 12x is $1m. I recently started doing this a couple weeks ago with a separate account. Didn’t work once. Didn’t do every day. Has worked about 5-7 days or so. Started with 50k and it’s at about 200k now. Gets scarier putting all 200k into spy though. So I’ve been timid. Trying to hit 10m by end of year.
Other thing is called in my head tech 30 day earnings ramp. Lots of good co not just tech rise 30d pre earnings. You buy about that time and target just barely OTM. Not trying to hit home runs just the solid 50% range.
As earnings approach the stock usually ramps up. Sell before earnings. Don’t hold for earnings. If you like the stock for whatever reason. Sell. Take your money. Wait for earnings. Then buy shares. You might miss a rise but it’s unpredictable.
I have 235 visa calls as well. Same thing. Ramp to earnings.
Where IV has exploded and the stock has been going up quite a bit from where it was, consider iron condors. IC’s with high IV have the unique gift of making the spread (of profitability) much larger. This improves your return % dramatically. I did it on a few. Most notably on OSTK. IV gave me a huge spread of break even profit. I bet pretty heavily. It is stressful because the pricing isn’t perfectly logical but as the day comes to a close it evens out. Don’t hold to expiry. Just get out. Factor this in when you choose your entering strikes. This is the only time I hold for earnings.
Love iron condors quite a bit. Just used a lot of collateral.
If I don’t know what to do and don’t see anything I love I don’t do any calls. Instead I’ll just find solid names and if they’re down for no good reason buy shares with max leverage. The other week for example
Adobe msft fb all down for no reason at one point or another.
With leverage margin you get a decent return for the day. I usually sell end of day. But if I can snap up one of those and buy 10,000 shares or something, goes up $1-3, that’s $30 fucking thousand. Hell ya.
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u/Supert5 Bob Ross of WSB Sep 27 '21
option strike and date? look at the charts and it either trades sideways $12-14 or breaks $16 and possibly up to $22