What Would You Do?

[Arnie Guitar]

Oh Hell, enough with the hypothetical,
Let’s do a real world test.

This is my current META Synthetic Covered Call position.
I took this position a couple months ago,
buying the 2 way out monthly's and writing the Calls every week,
rolling up every time, so I'm ahead.
I’m fortunate that it’s up.

What would your next move be?

On the far right is the current price,
To the immediate left is the price I took the position at.

 

[Overnight]

Oh Hell, enough with the hypothetical,
Let’s do a real world test.

This is my current META Synthetic Covered Call position.
I took this position a couple months ago,
buying the 2 way out monthly's and writing the Calls every week,
rolling up every time, so I'm ahead.
I’m fortunate that it’s up.

What would your next move be?

On the far right is the current price,
To the immediate left is the price I took the position at.

I don't know about options, but I have one line from you from Margin Call...

"Sell it all. Today."

The reason I suggest this is because you are unsure about your position, and have to come here for "advice". That means you are wobbly on your convictions, but you are UP! You can take the money NOW and run!

 

[TheDawn]

I don't know about options, but I have one line from you from Margin Call...

"Sell it all. Today."

The reason I suggest this is because you are unsure about your position, and have to come here for "advice". That means you are wobbly on your convictions, but you are UP! You can take the money NOW and run!

I will quote another line from "Margin Call":

Yes but at what cost??

 

[Overnight]

I will quote another line from "Margin Call":

Yes but at what cost??

This is it, Dawn! THIS IS IT!

 

[cesfx]

Oh Hell, enough with the hypothetical,
Let’s do a real world test.

This is my current META Synthetic Covered Call position.
I took this position a couple months ago,
buying the 2 way out monthly's and writing the Calls every week,
rolling up every time, so I'm ahead.
I’m fortunate that it’s up.

What would your next move be?

On the far right is the current price,
To the immediate left is the price I took the position at.

For what it's worth, I would probably watch the first expiry with the intention of buying it back, even on expiry day. If by then, meta price is over 215, I would also close the spread that exp on 21st.
With the June exp, I would look into locking some gain... Like sell another call for a total credit, or sell two + another dotm buy to flatten the tail, kind of a broken butterfly for a total credit.

 

[Arnie Guitar]

I changed some things and added another vertical.

 

[Overnight]

I changed some things and added another vertical.

So instead of GTFO when you were in profit, you decide to go deeper into the rabbit hole. Hope it works out for you.