IronFist's beginner option trading journal

I

IronFist

Let me bring you up to speed on where I am.

Sold 4 March 26 SNDL puts for $1.50 for $0.15.

Price flew to 0.40 last Friday (expiration) so I rolled them over. I was going to roll them to April 1 1.50 puts but they were 0.35, so I chose to do April 9 1.50 puts for 0.40 totally. So I made no money, because presently the figures look like this:

Sell 4 1.50 puts for $0.15 = $60 credit
Buy to close 4 1.50 puts for $0.40 = $160 debit
Sell 4 1.50 puts for $0.40 = $160 credit

It was pointed out by a member in my other thread that I should just have let them expire, because the premiums suck right now, but I didn't see his post in time, and I wanted to roll them over anyway.

I'm a total option learner. I know a little bit about the spreads but essentially nothing about the greeks. I know delta and theta but that's it. Moreover, I'm trying to learn.
 
lol i'm in the same boat. started doing cash puts and covered call within the last year.

what broker/platform do you use?

i'm currently in crsr cc at $40 4/16, and HUYA cc $30 4/16.

can't do anything fancy besides that given my option level. frankly, id rather stick to these basics covered plays for now
 
TDAMeritrade. I have level for everything excluding naked puts. I'm assuming you mean what they allow you to do and not what you understand.
 
IronFist said:
Let me bring you up to speed on where I am.

Sold 4 March 26 SNDL puts for $1.50 for $0.15.

Price flew to 0.40 last Friday (expiration) so I rolled them over. I was going to roll them to April 1 1.50 puts but they were 0.35, so I chose to do April 9 1.50 puts for 0.40 totally. So I made no money, because presently the figures look like this:

Sell 4 1.50 puts for $0.15 = $60 credit
Buy to close 4 1.50 puts for $0.40 = $160 debit
Sell 4 1.50 puts for $0.40 = $160 credit

It was pointed out by a member in my other thread that I should just have let them expire, because the premiums suck right now, but I didn't see his post in time, and I wanted to roll them over anyway.

I'm a total option learner. I know a little bit about the spreads but essentially nothing about the greeks. I know delta and theta but that's it. Moreover, I'm trying to learn.
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You should've still made $60 from selling the 4 puts the first time. Yeah I would've just let it expire as well unless they were ITM. Even if you wanted to roll them over, you could've sold them a little closer to their expirations dates in case the price shoots up again. But oh well, as long as you roll them over for the same quantity and not at a loss...
 
I’ve always had a hard time understanding why trade options on cheap stock. Why not just buy the delta1? Especially for something like $SNDL? A buck and some change for the common.

Just glanced at SNDL, looks bullish.
 
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