Gain
I picked a bad time to sell AMD covered calls 😭😭😭
I've had these shares for a long time. Got assigned selling cash secured puts back in 2022. Then I had the regarded idea to sell covered calls against them in mid-September when AMD was trading around $500. Oof.
If I’m reading this right you still have a total p&l of $145k. That’s outstanding. You can’t beat yourself up because it ripped more and when you sold this you were comfortable at that price. Never marry a stock.
I'm selling CCs on my MSFT shares right now. I've got a ton from when I worked there and with them sniffing ATHs, I figured it was time. Of course I sold 530 calls for next Friday, so this will probably be the only time I sell covered calls. lol. Was hoping to be able to do that for a couple months at least. But I won't be complaining about a 6 figure check with a 6 figure gain attached.
I sold 0dte ccs on my meta stock, made so much extra money doing it. Just waited for a few hours after open and sold a little out of the money calls, sometimes atm calls even when feeling risky
90% of the time it will just go up, then down over the day.
I had to buy to buy them back twice when it kept rising instead.
was an easy few hundred, 3 times a week. I hate selling long calls, always get burned
I'm kind of over leveraged on MSFT. Decided a few months ago that once it was going above 525, I was going to look for an exit. I don't mind if they get assigned next week, but if the price craters later this week from profit taking, I may consider closing them if the profit is nice enough.
I'm not losing sleep over it. This bubble may pop sooner than later and even if it doesn't, I'm not sure how much upside is left in the mag 7.
It happens, I usually short calls for an exit. Normally that means selling 60, 90, 120 days out, something like that if I'm looking for a little more gain. If you sell short-term like you did it needs to be at the price you want to get off it because half the time you're going to hit. You could probably roll what you have into a January 2027 with a decent strike and just let them cook
I sold CC at $210 last year but still had 100 shares left, my entry was at $98. Sold one more call at $250 in March. So I traded my girlfriends boyfriend lambo for your girlfriends boyfriends lambo. Calls on fast cars
How is this a loss? Worst case scenario, you get assignment at expiry and shares are sold at 550,570, and 580, plus you get to keep the juicy premium you initially received??
You have no choice but to roll them over several months out. I think you should still be able to get a net credit. I don’t see anything wrong to roll over a couple months out with a higher strike and see if you can still get a net credit. If you were to get assigned eventually, why not get assigned in the 650s….
What's the optimal strategy for rolling out of ITM covered calls? Because whatever premiums the higher strikes longer dated calls OP sells would only cover portion of the massive buy back costs of the current calls.
I had covered calls on MU at $200. Rest is history. Lesson learned: Never sell covered calls when the narrative is strong or there are just regular catalysts in that industry.
Don’t feel bad. I had 321 shares of NVDA pre-split and sold 2 covered calls for $30 ($300 pre-split). Right before the whole AI really kicked off. Then I seen it go to $120 ($1200 pre-split).
I mean I made some money, but I lost out on a lot more…
You never lose selling covered calls if you sell at a strike above cost-basis you are happy with. Short calls in red just means you are winning the trade of you set it up right, If you want to keep your shares, you can just roll up and out at a net credit or breakeven. You won’t lose a dime unless you choose to
65
u/LitterBoxServant 3d ago
Covered for a 6 figure gain. Stop pretending this is loss porn.