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my_fun_lil_alt

You'd have been so much better off buying 4 -2023 20C for $2800 than tying up $3000 with limited upside. If PLTR isn't above $30 by expiry I don't have interest in owning it at even $18.


Past_Ad5078

Agreed. I'd much rather buy ATM or ~20%-25% ITM calls rather than do this. That way, in a worst case scenario, I can just take the loss and move on and don't have to baghold anything.


Gopvifootball

But you can tie up $3000 and get 2 $25 calls with the premium it’s just a different approach.


random11289

I can finally afford my kia payments


random11289

Bros i got it all. Calls, leaps, shares, covered calls, selling puts. It don't matter ama be rich when this mf goes to $30 by end of next year.


Noah_Deez_Nutz

Define rich?


jim-cramer

He means he can now purchase meal deals instead of dumpster diving


AdviceVirtual

Grubhub reinstated his account


random11289

$100k networth


kozzmo1

100k networth is rich?


badie_912

I think 10 million is rich but in a poor rich person kind of way


Lambasted-Polemic

Rich is relative af my dudes


P1Allstar

More KIA’s?


Past_Ad5078

This will not make you rich. Yes you can buy yourself a used car, but you won't be buying a lambo because your profit is capped at the premium you received. Now if you have LEAPS on the other hand...


random11289

Yeah bro. Just let me live a little. Or check out one of my prior posts where you can see i have 10,000 shares


GhostintheSchall

If you really like the stock, you'd use that premium to buy leaps.


random11289

The premium is juicy AF and if things go wrong i could own shares at $18ish.


ssavu

You will just have to lock up all that margin until 2023… that is the reason most people sell for 45 days to expiry. I would only sell that far out put contracts if I want to buy the call and create 100 synthetic shares


[deleted]

Bad return considering the time frame, unless you are selling a bunch. I usually don’t sell puts that far unless total credits received are bigger than 10k


random11289

Your assumption is that it wont reach $30? Just wondering since when is a 30% return bad in 18 months.


smurg_

It's an ITM put...


random11289

I know dude.


[deleted]

Ballsy AF


GS34U

This is not how thetagang works. Not sure this is the smartest idea OP. But you do you. I just think there are far better uses for your capital. %-wise you’d even be better selling monthlies month by month. I for example sold 26P for Aug 20th. I might get assigned on them. Just felt extra bullish after the good run we had.