Are there advantages to selling calls at several strike prices?

[Cabin111]

Yes today. But I should have waited a bit longer.
Maybe I should have waited until tomorrow.

Cool...If you go full time, don't end up like this pawn guy.

 

[destriero]

They are in the money now. Who knows what tomorrow will bring.
I do teach all day M-F so I do not have the ability to monitor the stock market all day.

Wow, good call on the puts.

 

[newwurldmn]

They are in the money now. Who knows what tomorrow will bring.
I do teach all day M-F so I do not have the ability to monitor the stock market all day.

give your kids independent study and do some day trading! I hear there’s boatloads to make using Fibonacci retracements.

 

[newwurldmn]

RIP Neil.

I didn’t know he died. RIP.

 

[destriero]

give your kids independent study and do some day trading! I hear there’s boatloads to make using Fibonacci retracements.

ICWYDT

 

[TheDawn]

They are in the money now. Who knows what tomorrow will bring.
I do teach all day M-F so I do not have the ability to monitor the stock market all day.

Don't know what time you sold the puts but the underlying hit rock bottom at around 2:30 PM yesterday so if you sold it then, you would've made some money. Good thing you didn't sell them today as they would've been OTM. The market is determined to ignore the strong job statistics' impact on Powell's rate decision-making it looks like. LOL With such a strong job number, if it was last year, the S&P 500 would've tanked 2%+ by now.

 

[2rosy]

$15K IIRC. IWC raised prices which bailed me out of deal. I sold a Patek complication to a large CTA in WI. I can't recall the name, but >1B in AUM at the time.

Crabel?

 

[destriero]

Crabel?

YES, thanks.

 

[RainyDayTexas]

Not only do I not understand the nuances... I don't understand a lot of what you are talking about. I also do not think I'm approved for option trading straddles. Sorry, I'm a beginner, a lot of the vocabulary and abbreviations you are using is over my current knowledge. All I have done in my options trading experience is sell covered calls (mostly), bought a few calls and sold a few puts. I have been reading a lot about options trading. I just joined Elite Trader today.

i will try to simplify what smalfil said. BTW i am not an expert. here you go - when you buy an asset and it goes up rapidly, you need to find ways to book the profit or let it ride and also protect the downside. if you have 500 XOM that you bought at say 75 and now it trades at 115. what you do is sell 120 covered call collect the premium. use that premium to buy puts of 100 strike. this is called collar i believe.

 

[MathTeacher]

Thanks,
Yeah I sold calls at 123
Bought puts at 111
Everything worked out fine!