Hello everyone! Today i want to share some option strategies with you!
1.
Watching how other optionselling traders play the game is very humbling. We still have a lot to learn.
Key things we need to work on this year:
▫️ trusting our instinct on when to write more aggressive strikes versus defaulting to being very conservative (although not a bad thing, but we leave a lot of $$$ on the table)
▫️ balancing our tried-and-true 'set it and forget it' far OTM strategy (which is how we trade) with taking more ATM or slightly OTM directional bets
▫️ being more diligent about analyzing the market and technical charts as well as other data points and indicators to take high-conviction directional bets
▫️ not writing too many LEAP puts and calls (at the moment, we are trying to unwind several positions at breakeven or profit versus holding until worthless or near worthless expiration ... ties up our buying power for too long)
▫️ optimizing buying power and not over-leveraging (luckily, haven't had to fulfill any margin calls yet)
▫️ managing risk by position sizing down
2.
$Amazon.com(AMZN)$ releases earnings after the closing bell. Expected move is ~6%.
Gonna take an #Optionselling trade and write a strangle. May 9 expiry.
- 150 strike cash-secured puts
- 225 strike naked calls
We also have shares and will hold thru earnings.
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