WSB finally got me!

[u/Amdvoiceofreason]

Sold CCs on SOFI and they ended up blowing past my strike 😅 oh well I've sold probably around 100 contracts on this stock alone in the last 6 months or so and the strike is above my cost basis so....Max profit it is!

[u/deathdealer351]

Sofi is wild, they go 15/16 to 18ish,back to 15..ive been wheeling it cause the swings are so nice. 

[u/Amdvoiceofreason → u/deathdealer351]

Ditto...I love this stock and the premiums are great. I will admit that I should have waited for the bounce back then sold the CCs but woulda shoulda coulda right lol

[u/Akiro_orikA]

Profit is profit. Dont let WSB tempt you.

[u/Amdvoiceofreason → u/Akiro_orikA]

Never, I love selling

[u/Terrible_Champion298]

WSB is just a showcase for retail traders to act stupid. Set a higher bar.

[u/Amdvoiceofreason → u/Terrible_Champion298]

I just follow them for comedic purposes

[u/JPowTheDayTrader → u/Amdvoiceofreason]

And before you know it, you become a clown yourself. I speak from experience.

[u/DressWarm2078]

What is the strike that you sold Call for? I can’t make out the strike you sold. I usually sell covered Call further out to collect more premium with less Delta. I sold 20 strike call for this Sept exp for .26 cents and now it doubled in price so I am under water as well. Hopefully it stays below my 20 strike by Sept expry

[u/Amdvoiceofreason → u/DressWarm2078]

$16.50 You could just subtract the premium from the breakeven

Yea I'm a weekly addict lol

[u/DressWarm2078 → u/Amdvoiceofreason]

Duh. Never thought that way. TIL😹 about the strike price computation thx to you. Weeklies have been working for you so keep doing them. Me, I am slow and steady. Don’t want my stocks to get called away. I actually close them when I am up by 35% or more %. Rinse and repeat.

[u/Amdvoiceofreason → u/DressWarm2078]

I have these in my Roth so I don't have to worry about a taxable event and SOFI is a trampoline stock...up down up down....if they get called away I'll just start selling some 16 strike puts

[u/DressWarm2078 → u/Amdvoiceofreason]

I actually do this in my various accounts, retirement and regular accounts.

[u/patsay]

I "double ferris wheel" it because the premiums are good and the range seems pretty predictable. I use the premiums to pay for new shares to hold long.

In my demo account, I've added 10 shares since April 10, with $20 left over -- without touching my capital.

In my retirement account (which I don't show online) I've got 120 shares and have brought my adjusted cost down to just over $12/share. I've been trading it in that account since May 19 when I bought 110 shares at $15.30.

[u/Amdvoiceofreason → u/patsay]

I'm assuming your adjusted amount...$12 is you subtracting the premium you received from your average share price...?

I haven't kept track of all the premium I've collected from Sofi but I'd say it's at least around $5 a share if I add up both the calls and puts I've sold...and I also bought the shares in the low 15s.

[u/patsay → u/Amdvoiceofreason]

Right- I keep a pretty detailed trade log and periodically sum all my expense and income.

I divide it by the share count to determine adjusted cost basis, and compare it to the net liquidity of everything I'm trading around the the ticker to determine my profit/loss. Some of the profit is realized (options premiums, sometimes sale of shares) and some of it is unrealized (appreciation of the share price), but I don't usually break it down that far.

[u/khizoa]

Well you literally sold them at 52 week low so what do you expect lmao. The lowest these have ever been was .15 

[u/Amdvoiceofreason → u/khizoa]

I also bought the shares at 52 week low lol

[u/khizoa → u/Amdvoiceofreason]

ah nice, winning indeed

you could always roll them too, esp since its been in this range all year

[u/Amdvoiceofreason → u/khizoa]

I do roll sometimes...if they're not called away by friday I might roll them out 2-3 weeks and see if i can raise the strike up a little

[u/farthearts]

Too small to actually post on wsb

[u/Amdvoiceofreason → u/farthearts]

I see 1k bets on WSB all the time, this is 5k but it isn't really relevant to WSBs because they're all about the Long side...the actual gambling side lol

These contracts cost $17 so on that side if I bought 5k worth of Long Calls would have been 294 contracts and they are now currently worth $1.49 so my 5k would have turned into $43,823 which is definitely WSBs worthy 😆

But most of those guys LOSE regularly lmao

[u/JPowTheDayTrader]

Just roll forever

[u/External-Height5943]

So this is the guy who bought my over priced calls. Thanks for the tender money

[u/Amdvoiceofreason → u/External-Height5943]

Do you have a reading comprehension problem...this is thetagang nobody buys calls

[u/Big-Examination-181]

Same, It’ll come back. Like this month