T O P
EtadanikM

Now we see who sold too many puts on margin...


[deleted]

I feel personally attacked


lexel_ent

I would say, personally called ... by Mr. Margin.


spros

Just checked, all I have are calls out right now. Closed all my CSPs and spreads Wednesday. Gonna close these call positions and go on a spending spree on discount stocks. Sometimes I'm a lucky dumb bitch


RMN1999_V2

My CSP's are all ok (strike not challenged) on all but the same two position I was already on a fight on. Fortunately, on one of the two, I sold a call credit spread a few days ago. It is helping out today :)


bombaytrader

My two positions have been challenged Disney and delta


RMN1999_V2

SQ and SOFI are my two "special" children. I bought the call credit spread on SQ and that has helped me out a little, but I will probably be kicking these two down the road for sometime to get my head above water.


Skadforlife2

I’ll be joining you. SQ trying to kill me at the moment.


N0RiskN0Reward

Can’t believe the down trend Disney has been in. Besides today- why?? Sold dec 17 $145 put. A mistake it seams.


ObviouslyObstinate

Sew, it seams.


GatorFootball

I’m right there with you on delta as well except I’m ITM. Also barely ITM on Marriott. Luckily they are mid to end of December so I’ve got some time to figure out whether or not this new variant is going to be an asshole.


devsinvest

but it's free mone...


incompetent_homie

I’m in this comment and I don’t like it


AbsoluteWounder

LOL, exactly. Luckily I made some changes a few days ago to make sure I wasn't one of them!


SaneLad

COVID sell off? What year is this? 2020?


alkaliphiles

Hasn't it been 2020 for two years now?


TheRealBigStanky

2020, the longest decade


extraduo

Longest two weeks.. the curve hasnt flattened


mellowyellow313

BINGO. Someone gets it!


TheDaddyShip

Could we please pin this post for all the folks asking about free theta over holidays? ;)


p0mmesbude

FML. I went to cash just before the last FOMC meeting. Since Wednesday I am fully invested again. EVERY FUCKING TIME!


Cebraio

Let us know next time you do this


Raiddinn1

How can I short your account, it's definitely going to 0.


BigMoneyCream

RIP


AnyPortInAHurricane

2% down would be good news . many stocks down 7-10% or more put sellers there are now proud knife catchers


AbsoluteWounder

Its looking more like 5-10% off!! Hopefully this sell off doesn't blow to far below everyone's strike prices. I'll be taking assignment of 200 SOFI shares at $20, so I could be bag holding for a while! Great day to sell puts though!!


arbitrageME

ES is down 1.77%, but when there's a scare like this, it's usually the small stocks (like your SOFI) that get banged up the worst


veilwalker

PTON is up so clearly the new variant isn't going to kill us all otherwise why would me need overpriced treadmills?


abk111

Betting on more lockdowns?


Vivid-Sea-6394

SOFI should be fine long term


otasi

I had $21p that was itm and the option holder closed it on me. So guess I’m not getting assigned after all.


DreamySensei

Can you clarify what you mean please?


Skadooooodle

Is the market actually reacting to new variant of Covid, or is that more about DiDi delisting and the relations between China and USA?


mancho98

We need Pfizer to come out and say, we are confident our vaccine and treatment are efficient againts the south African variant. Boom everything goes green.


m1nhuh

It's the variant. Asian and European markets are down. And Didi isn't really that big an issue.


Skadooooodle

Well it's not some micro-cap company being delisted in NYSE, it's almost 40B market cap company and in my opinion it's not only about DiDi being delisted but more about the relations between China and USA which is getting worse.


m1nhuh

I don't discount the negative impacts of a Chinese-US Cold War, but this specific sell off is directly due to the variant news in my view. The headlines aren't too focused on the Didi listing. I know the media likes to hype up things, but it does seem like each new variant has triggered a small sell off all year.


Skadooooodle

Yeah, you might be right. Just opened CNBC and the new variant is actually all over the place.


earlyriser83

As bad as delta has been, it's actually been great at keeping other variants under control. That doesn't appear to be the case with this Nu variant.


electricskywalker

Usually the variants have just caused people to change up their positions more so then sell off. Rotating into tech and out of retail for example. I think this time their is a legit sell off to cash due to the already bad inflation news compounding with variant news. Just my opinion.


AbsoluteWounder

I'd say the majority is the new covid strain, only small part down to DIDI and China. Considering all the global markets are screwed also.


Skadooooodle

I feel like we already had like 3 or 4 variants of Covid, that shouldn't be so worrying to investors as it was before in my opinion.


electricskywalker

This one has 32 variations to the spike proteins. Since the vaccine works by blocking the ability of those spike proteins to bind to our cells, this is kind of a big deal. Could be a vaccine resistant variant, so people are understandably a bit shook by that.


Raiddinn1

The people driving the price ship don't know anything about this science stuff.


AbsoluteWounder

I don't agree, and it looks like the global markets don't either. Any further lockdowns will impact stocks massively.


Skadooooodle

Lockdowns would impact big, there's no doubt. But we're discussing the new variant, that we don't know much about. It's the uncertainty that drives the markets down


jimmyxs

I am with you about the overreaction. But it is what it is. Market wants an excuse to take money off those on the Santa Claus rally sled. Sigh


Skadooooodle

It actually seems that this one is a little bit more concerning than the previous variants


jimmyxs

Yes but considering most are vaccinated now… I just don’t see a national lockdown type response. I might have to pare my positions at the close today (over exposure) but pretty sure it will bounce on Monday just after I sell. Typical me.


Skadooooodle

Fears are growing about the new Botswana Covid-19 variant which experts believe is the most mutated version of the virus to date. The B.1.1529 strain, which could soon be named Nu, carries 32 mutations of which many are highly transmissible and vaccine resistant. Not trying to spread FUD, just sharing the information.


smegmasyr

I see more lockdowns just before the 2022 elwctions.


jimmyxs

that wont be a very popular move


Im_Drake

I feel like I read this exact comment at the dawn of the delta era... they came out 2 days later and said the vaccines were effective against the variant blah blah, market was back to ATH by the end of the week like it never happened. I'm predicting more of the same


St8Troopa

Never fails.


gatorjim5

Take a look at pandemic stocks like PLTN and ZM. Both up massive right now. I would say reaction to Covid.


AnotherDoctorGonzo

Look at moderna stock today, I think that contains the answer right there


Skadooooodle

Yeah, it makes more sense when the market is open.


follow-spy

omg, good thing I didn't sell :)


craftkiller

Don't forget the collapse of the lira, the coup attempt in ukraine, and the mass of Russian troops at the border.


veilwalker

Coup attempt? I missed that one.


craftkiller

https://www.reuters.com/world/europe/ukraine-has-information-about-december-coup-attempt-with-russian-involvement-2021-11-26/


smegmasyr

Never fear Hunter is here!


Fantastic-Alps4335

Mater of perspective.


Raiddinn1

2% markdowns? Talk about shitty Black Friday deals.


narocroc10

Is it weird that I experienced this post as a Cowboy Beebop bounty vignette?


Pandarx71

Easy come, easy go, see you next time space cowboy...


shtiper

BUY BUY BUY


only1nameleft

Hedging, diversification, and position sizing strike back


ideletedmyaccount04

my csp $TSLA 12/23 is only down 20%, I have full faith in Rothchild/Lizard/illuminati to raise the market by next year. Rolling options and my dog are my two favorite things in the world.


Neo1331

I'm holding out for Cyber Monday


Sciencetist

I wonder what happens to heavily-shorted stocks during down days like this -- I've never really analyzed it. Spitballing here, but given the margin intensity associated with shorting, it could lead to some buying pressure if people buy out of their shorts?


Tfarecnim

They will go down *more* as people pull money from them to put into safer investments. The buying pressure from covering isn't enough to overcome a general market downturn.


arbitrageME

usually "heavily shorted" stocks are pretty small and not really correlated with the market. Also, I'm guessing the "heavily shorted" stocks are in for a field day because the shorts are gaining from unexpected market conditions. If they were negative on the stock before, why wouldn't they be negative on the stock now? So especially the long-term shorts, I don't see why they would want to buy back


Sciencetist

> If they were negative on the stock before, why wouldn't they be negative on the stock now? That's not the point. The point is that as people get margin called and have to lower their risk profile, they will have to buy out of short positions, as these are very margin-intensive. I'm not saying this WILL happen, I'm just theorizing.


veilwalker

They would be increasing in value and this reducing margin reqs against the short position. Short stock at $10, sell 1,000 shares so get $10,000 cash and hold back $5,000 for margin (50% of short position held as margin). Stock goes down to $5, still short 1,000 shares, still have $10,000 cash but only need $2,500 for margin. Right?


Haunting_Beat_7726

>USA no one is getting called...everyone knew the plan here except us poors..


tokillamartingale

I’m sitting at 25% cash, my CSPs are mostly expiring Dec 17th, I’m thankfully in a better position than most. Good luck everyone and RIP to anyone with outstanding ZM naked calls!


m1nhuh

Sucks that my short puts will be down, but at least I have offsetting short calls (paired as strangles and straddles) on almost everything.


CloseThePodBayDoors

gold up / bitcon down


Vincent_Merle

PFE is up 6% on premarket <3


Stonkslut111

The more I do theta the more I realize no one makes money on it 😂


Cr0w33

Just waiting to get assigned on my $8 OCGN dec 23 CSPs I could roll, but after having the opportunity to get out multiple times, I feel like I might as well just take assignment


guerroguapo

SPY 2% off. Individual stocks down 5 to 8 percent lol


arbitrageME

that doesn't make sense. The SPY is made of up stocks. No doubt many stocks are 5 or 8% down, but that must mean a solid chunk of them are up like 4% too, for a weighted average of -2%


SaneLad

Nah, just a bunch of megacaps and Boomer stocks trading sideways. These things are like ocean liners.


KingCharles559

Check ZM and PTON


AnyPortInAHurricane

neither ​ real reason is willy meade and zacky morris, two felonious twitter FURU , both perp walked and charged with crimes to heinous to mention


Eyecelance

please tell me this is real


Locked_door

Hi, this is real. Who even are you? I’m just making this up, don’t trust anything I say.


nyc_hustler

There are two scenarios: 1) Holiday weekend - barely anyone at the trading desk and you are looking at pre-market so the liquidity is shallow AF. Much easier for it to die. 2) Joe Biden might be expected to ban travel not only from South america but the rest of the world because that's what he criticized Trump of not doing and a few market makers got wind of it and are preparing for it. If we pump at open, I will go with 1 and if spy straight up goes in a death spiral, I would hedge heavily.


bitemenow999

What are good practices to sell volatility contracts... never did it before but looks like Christmas is cancelled so why not


arbitrageME

I would sell the vol and hedge the crap out of your deltas. No net delta exposure and collect on the high vol


bitemenow999

how far OTM?


arbitrageME

take a walk on the wild side. sell it ITM lol edit: it's actually not as crazy as you might think. If you sell ITM, they're juicier and thus fewer contracts. There's less gamma to demolish you if the underlier does break through the strike. So imagine selling 5x 27C at $2 vs 15x 32C at $.8. If it goes down, you make the same amount. If it goes up, you're on the edge of your seat if that 32 gets touched, that's a shitload of gamma you don't want to see. My position coming into this was a short straddle at about $3 above the money. That way I make almost nothing if things calm down, but won't get hurt, but I won't get hurt almost up to a 20% spike in vol. So those will be pretty good tomorrow. Depending on how the market opens, I'll probably try shorting some ATM or $1 ITM calls for 2 weeks out, hoping for some calm. But if it gets worse, it won't hit my gamma that much. Alternatively is to sell a put and short the underlier. The short put won't hurt if we go back down because vol will decrease and short vega will make up for the short delta, and short stock is just for fun


CouIomb

Market just reacting to technical levels 🤷‍♂️


TrulyGoodKarma

Only 2% shot deal but I’ll take it


StonksGoUpApes

Ofc i didn't hold my EZA puts to January


PunisherASM129

The story about 8 hours ago was "taper ending early due to comments from some non-entity on the Fed" when it was and is about the variant. How office building owners are not down 20% pre-market is beyond me...


[deleted]

Sell the VIX. All day baby


arbitrageME

Sell VIX options. Collect on both overpriced vix and vvix


[deleted]

I like selling uvxy calls but any port in a storm!


mcstrabby

BNTX calls to the moon. Sold 4/5 for 300-500% profit. And I do own the underlying too, that's how much of a Believer I am.


TheAvantGardeners

Made 25% on my Rivian CSP despite still being red for the past two trading days. New variant news sounds interesting... gonna wait till Monday after America finishes digesting their turkey to see if we're in for another blood bath.


Nixolas

My CSP’s just got annihilated. Looks like I got some work to wheel for a while.


EpicWhaleSquad

I’m thinking Cyber Monday. SPY looks like it’s going towards $447.18 or worst case 437.27. Both levels are anchored VWAPs from two gaps which has support potential.


metaplexico

I'm long vol and vaccine stocks, so today was ... * *chef's kiss* *


arbitrageME

> I'm long vol and you're in /r/thetagang ??? Infidel!! lol jk congrats on the great trade


metaplexico

It’s my hedge. Don’t tell anyone.


houstonisgreat

have you have good success with the VXX trade you mention ? I see how when it spikes up sharply, it almost always then comes down again almost as fast


arbitrageME

Yeah but not today. It did get better next week or the week after. Selling 30C for like $20


arbitrageME

the "almost always" really fucks you. I've decided that there's 3 levels to spikes: 12%, 30% and indefinite. go like 80% of all in at 30% spike, with a stop loss at +50% because there's no telling where it's going, understanding you can take a massive loss if it hits that "indefinite". "Indefinite" happens every like 5-20 years


houstonisgreat

yeah, that's the part that frightens me on an open short call...I see how this thing jumped up about 30% this week...what's to stop it from jumping up another 30%


arbitrageME

poisson distribution of spikes


Sandvicheater

All my credit puts are fucked but I followed the rules and always have enough cash on hand to cover these credit spreads.


mel_tormented

I opened and closed puts on CCL today. Had them open 50 mins, closed for 20% gain. $40. Didn't want to hold over weekend with variant unknowns. Took the opportunity to roll several puts out in time and some down in strike to capture to VOL increase


Statistician-1744

My puts !


jgalt5042

Oh lawd 2%. Have you seen this run up? Wait until 5-8% pullback. Then buy.


Astronomer_Soft

LOL, kids these days think 2% is a sale on the stock market. https://en.wikipedia.org/wiki/List\_of\_largest\_daily\_changes\_in\_the\_S%26P\_500\_Index


PirateDocBrown

Not worried. Sold PFE CSPs long ago. Ka-ching. This news sucks for commerce. It's great for biotech.