Quote (softcoresux @ Aug 23 2022 06:16am)

I like oil & gas and Tesla, I know I sound absurd, but that is truly how I feel.

Trying to do options on TSLA is too rich for me.

So that leaves me with oil/gas. I like it in the sense that I doubt that both WTI @ $90 and gas at $9.80 are still at those levels come January. Maybe it crashes down or maybe it goes to the moon, but I doubt it just sits there. And I lean towards thinking that the SPR release ends and Russia pulls some non-sense this winter and things could get crazy with oil/gas. Maybe everything goes well for the world, and the war ends, and recessions kick in and demand dies down, a deal is reached with Iran and as the SPR winds down enough replacement is injected from Iran to perfectly fill the gap. But I'm gona wager with Murphy and his law on this one. Either way I'm expecting volatility to move in a big way up or down, and I think there is more upside than downside risk. In particular I find stuff like: EOG, PXD, DVN interesting.

So for me, My yolo of choice at the moment is EOG $160 strike, January calls. Got these for $250 each, have over 4 figures but under 5 figures worth of these.

I roughly guess I have a 70% chance to just lose all my money
15% chance to lose a big chunk but not all my money
10% chance to make a small amount of money
5% chance to 20-50x my money.

I'll take those odds. Also on the other side of the risk spectrum, just holding these kinds of oil/gas stocks and collecting the dividends is not bad. The dividends are quite strong, and then just either reinvest the dividends or in a strong troll move, use the dividends to buy more TSLA. :rofl:

Quote (godzmite @ Sep 29 2022 12:45am)

I only ever do covered call options on stocks/companies I truly believe in. If I had the money, I would 100% be doing covered calls on Tesla. The premiums are insane.

Quote (Bazi @ Sep 29 2022 07:53am)

This is actually a good strategy with a lot of retail traded names because contrary to the broader market, retail does influence vega with options regardless of how minimal impact they have on price

And if ur selling options, u can take advantage of the degen retail gambling with inflated premiums

Quote (Melatonina @ Sep 29 2022 01:23am)

Warren Buffet just invested 50B in Oil companies, zero on Tesla.

Just an information, no financial advise.

Quote (godzmite @ Sep 29 2022 10:05am)

100% agree with what you said. Especially the degen part hahaha

I've been doing covered calls for the last 2 years and I make around 10k a year of just passive income on covered calls. My only loss is the potential gain and maybe some shares that I'll have to buy back on the few times it's exercised.

Quote (duffman316 @ Oct 1 2022 01:22pm)

experimenting with this odte stuff
lost $30 on odte calls on spy

Quote (softcoresux @ Aug 19 2022 09:31am)

We need to replace this forum with the official D2JSP Wallstreetbets forum. I mean, do people on the internet visiting this site want thoughtful, intelligent analysis of financial issues OR

Do they wana see the YOLO lottery style crazy winnings and losings of high stakes options trading? Plus lots of silly memes.

The answer here is so obvious, it really doesn't need to be stated.

Come on JSP, let's get with the times~