These are the golden days for all CC sellers

Quote from Cluseau:

Utter bullshit. And this is not personal.

The put sellers that i know are cleaning up on the products they trade with 2-5 point VIX swings per day. As for covered calls, what i have come across is that traders bring in extra income by selling calls with inflated IV's on longer term holdings and are happy to have the opportunity. So, you can see how i strongly disagree and may have mistaken your post for a generalized comment. Just like there are short sellers that look for and profit on strong rallies. One of the biggest mistakes new and uneducated traders make is wasting time generalizing while they could be learning and refining a skill. Again, nothing personal.
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I am not talking about the people who trade their positions actively. Hell I have been long the juice in the SPX for 10 days and I have sold puts vs the juice but that’s trading. If you put on covered call positions or naked short puts in the last few weeks you’re losing money. You can say you’re a long term holder in the stock on the CC side and you collected nice premium in the options that’s fine but the bottom line is you’re getting hammered right here on the stock. You may have sold some longer dated puts at some nice volatility levels and you can hang with them through the market selling going on now but again, if you sold puts over the last few weeks in most names you’re AV is getting hit.. As for those “traders” who are bringing in extra income selling higher IV calls. In reality they’re losing less on the stocks they’re long by selling calls not bringing in income.

Thanks for the comments about new or uneducated traders but I have 20 years in the business.

I dont take anything personal on the internet people can be anything they want to be its the vast anonymity of the internet. Sure there are some names out there where you could have sold puts recently and got those long deltas and its working out but using the SnP as a proxy for the general market those who sold puts or did the covered write are losing money here.

Good luck to you.
 
Quote from xflat2186:

I am not talking about the people who trade their positions actively. Hell I have been long the juice in the SPX for 10 days and I have sold puts vs the juice but that’s trading. If you put on covered call positions or naked short puts in the last few weeks you’re losing money. You can say you’re a long term holder in the stock on the CC side and you collected nice premium in the options that’s fine but the bottom line is you’re getting hammered right here on the stock. You may have sold some longer dated puts at some nice volatility levels and you can hang with them through the market selling going on now but again, if you sold puts over the last few weeks in most names you’re AV is getting hit.. As for those “traders” who are bringing in extra income selling higher IV calls. In reality they’re losing less on the stocks they’re long by selling calls not bringing in income.

Thanks for the comments about new or uneducated traders but I have 20 years in the business.

I dont take anything personal on the internet people can be anything they want to be its the vast anonymity of the internet. Sure there are some names out there where you could have sold puts recently and got those long deltas and its working out but using the SnP as a proxy for the general market those who sold puts or did the covered write are losing money here.

Good luck to you.
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At the risk of talking to a wall i'll end this now.

You are exactly correct. Your 20 years of experience have taught you a lot. What you say is exactly true. They're getting killed. Now you can go on with life knowing someone is getting killed.

Honestly, your post is clueless. Longterm stock holders don't worry about 10 days this and that, they use what the market is giving. The ones i know anyway.

By the way, i trade option volatility and can tell your grasp of the market you have been trading for 20 years is tiny.

I would venture to say i know more than you and i only have been trading since 1997.

Anyway, excuse my rant but i think many strategies can work now given the vols we are seeing. There are a plethora of opportunities each and every day that were not available at VIX 10. So i'm giddy like a snot nosed school girl.

Your turn to sound like you know something.

:D
 
“Honestly, your post is clueless. Longterm stock holders don't worry about 10 days this and that, they use what the market is giving. The ones i know anyway.”

Who said that long term stock holders are necessarily worried? In your smugness you assume that I implied that. The simple fact of the matter is that the typical long term stock holder who writes calls vs their holding has seen their AV drop over the last month. Whether they worry about it or not is not the issue nor can you speak for any of them other then the “ones you know”


“By the way, i trade option volatility and can tell your grasp of the market you have been trading for 20 years is tiny.

I would venture to say i know more than you and i only have been trading since 1997.”

By the way ...It’s the internet you may “venture to say you know more’ then the whole world, big deal, that does not make what you say an actual fact.

“Your turn to sound like you know something.”

Slinging childish insults while you hide in the vast anonymity of the internet is not all that difficult. If that sort of thing makes you feel good about yourself, sling all the insults you like, makes no difference to me. What’s next ? Are you going to now tell me I am broke and lost all my money in the market?
 
Quote from xflat2186:

“Honestly, your post is clueless. Longterm stock holders don't worry about 10 days this and that, they use what the market is giving. The ones i know anyway.”

Who said that long term stock holders are necessarily worried? In your smugness you assume that I implied that. The simple fact of the matter is that the typical long term stock holder who writes calls vs their holding has seen their AV drop over the last month. Whether they worry about it or not is not the issue nor can you speak for any of them other then the “ones you know”


“By the way, i trade option volatility and can tell your grasp of the market you have been trading for 20 years is tiny.

I would venture to say i know more than you and i only have been trading since 1997.”

By the way ...It’s the internet you may “venture to say you know more’ then the whole world, big deal, that does not make what you say an actual fact.

“Your turn to sound like you know something.”

Slinging childish insults while you hide in the vast anonymity of the internet is not all that difficult. If that sort of thing makes you feel good about yourself, sling all the insults you like, makes no difference to me. What’s next ? Are you going to now tell me I am broke and lost all my money in the market?
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Sounds good. My mistake. I promised Baron to be a good citizen and should have never commented on this thread. You are entitled to say and think anything. Enjoy yourselves. I have unsubscribed from this thread. Again, nothing personal and sorry for getting annoyed and making remarks and assumptions about you. Cheers.
 
Don’t apologize on my account, these anonymous web boards are filled to the gills with internet bullies who seek validation via insults and establishing themselves in their perceived pecking order.

The entitlement to say or think anything is a given, it’s not a privilege bestowed upon one by another, so there is no need to offer you blessing on entitlement.

If long term stock holders are getting higher premiums for the calls they sell with these elevated IV’s that’s wonderful. Hopefully for their sake they’re liquid enough to stick with the stocks through down turns in the market and allow that premium to help offset the losses they’re sustaining in the long stock.
 
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