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I could own actual garbage if I manage my risk by allocation size.

Ooohh so I got to name it? :) How about the weighted wheel strategy. Since it is weighted directionally. Any other suggestions?

No...this is a strategic trade. Probably not suited for directionally challenged. The idea is to collect the maximum premium possible by selecting the deepest itm strike that will finish OTM...everything else is just collateral damage. If we flipped to puts at the bottom of the triangle, we'd...

Yes, you got to look at the order ticket if it's after open because the chain prices can be lagging... Or wait? Is this an arbitrage opportunity??? Are you sure they're both the same expiry?

Chatgpt says sort of. :)

Statistics are my strength! Lol ..have you not seen my chart projections? Legendary in any company. Look no farther than this topic ...price did exactly like I set up for. I'm already up 1.03 But ok arbitrage like in mis-pricings where you buy from one exchange and sell in another for a profit...

Chat got nailed it. I use chatgpt for all my coding needs now...so much better than human help...will do the same for options...much less prickly than P lol. Chatgpt never gets annoyed with a stupid question like humans...it works through it...like I always say if I knew how to ask the perfect...

Yeah relative to the 16.50 call you're selling lol. The strike doesn't move in or out of the money. It's just what it is and price makes it itm or otm. :)

Selling an atm straddle? The price has dropped since posting but my sheet says I would have only collected $1.20 in premium with a straddle...more fees and more risk. I guess if you have no directional bias, otherwise its counter productive.

You summarized what I was trying to get across perfectly. :)

Arbitrage is a state of mind. :)

You should be selling options itm and let price come otm for max premium. Selling the AUG30 16.50 call today @ 2.08 BREAK EVEN The break even (what you are selling your shares for) @ expiry would be 18.58 (16.50+2.08) You can also factor in your avg cost on the underlying here, so if...

Isn't that what I just demonstrated? Cheaper by lowering your with premium AND yes cheaper by price. :)

Both should be combined.

So I had a break even of 19.75 so if I sold this morning I would have taken a loss of 19.75-18.47=$1920 Instead I sold a call for AUG30 CALL for .93 and received $1395 bringing my break even down to $1880 If the .38 level holds then into a triangle...otherwise triangle will likely form at the...

He's using the .618 retrace just like I've been showing since I got here...its pretty much TA 101 to anybody worth their weight. Unfortunately around here he would be met with "hindsight is 20/20" lol because the punters don't understand that the levels are .38, .50, and .618. Or they will...

Flipping a coin isn't 50/50.

Those who can't do, teach. There is a reason for the saying. That reason is if you could do you could make more money doing than teaching.

Exactly ! If you're going to buy stock you might as well sell a put, and if you're going to sell stock you might as well sell a call and get paid for it. To use your example if you're going to place a limit order OTM, you can just sell a call at the money or whatever the equivalent pnl and...

Tell me you don't know how to take advantage of market volatility without telling me you don't know how to take advantage of market volatility. It sounds like government bonds are more your style or maybe just a high interest savings account. Oh btw do people sell their houses just because...