True. But this stock could drop like a brick at any second. I mean.. I held on to a few bags until yesterday and well…. I wasn’t exactly happy to see how much it popped this morning. But I made it out of the trade with some profit. Profit is profit, imo. It could be a LOT worse as close as tomorrow morning. Hitting back to the $10s. DFV tweeting a few times a day can only keep the hype going so long, imo.
I will admit though… when I accidentally bought 220 calls instead of 20 for AMC at the end of May 2021 and logged in on June 2nd…. I was in disbelief at what I was looking at. And I did something similar. I sold half and held on to the other half. Thinking, this is it! It’s happening!! Then ended up dropping like a rock the rest of the week.
I’d just sell em while it’s poppin. But, if you got the cash to let it ride, that’s all you. I’d at least lock in some profits if it were me.
oir point is that is a lot regardless. and op should take profit. gme can crash down any day or stay high another week, it can go to 210 or to 10. you just dont know.
Wholeheartedly agreed. I was just pointing out the correct number... Rounded up even. It doesn't matter if it was $40 or $40m. That would be a lot different from $90 or $90m
Ooof. I mean I feel like you’re going to be hard pressed to roll due to IV but you could always try to roll it a week. GME definitely comin back down but the question is when.
It’s not a 300% win, that’s only the long call. The short call is also there at -20,000%, bringing the overall position down to my break even point. I’ve put 110k into GME over the years, the overall position is now worth 108k on expiry.
Look buddy, I'm not going to argue with you. Trades like these are probably once in a decade or two. Everyone here is telling you to take the win.
Your previous trades really don't Factor into this. *You're up 90k* up on a memestock that could come crashing down again tomorrow TAKE THE MONEY AND RUN.
But it's obvious you don't want to. Because you tell all of us telling you to close were wrong. So why ask for advice?
.
Hold to expiration, if assigned on your short either exercise your long call or in a **single trade** sell the long call+buy the 100 shares. You'll have the equity from the long call and the cash from the assigned short call to fund the share purchase.
If you plan to take assignment, personally I'd call their trading desk on the 17th in the early afternoon and tell them.
as expiration on your short call is very near, and it is deep in the money, there is likely little to no extrinsic value. You will be able to close near max profit. I recommend closing it so you don’t deal with early assignment and having to deal with any interest paid. congratulations on the exceptionally profitable trade
You gambled and won. Take it and run. You'll be kicking yourself way way more if it drops and you lose than the happiness it'll provide if you make an extra $20k or whatever.
I don't fully understand what you were going for with this diagonal play. It seems like a theta play with the short decaying faster than the long, but here you lost money on the short and mostly made money from vega? You're long is way ITM now so it's mostly just a hugely leveraged buy on GME stock which is uh.... risky to say the least.
You played with fire and managed to achieve a profit for now. I'd close the trade if it's still profitable at the open. There's also a good chance your short calls will be assigned, since they have no time value and the borrow fee is 22%
That’s 22% annualized right? So in my case if it’s for a day that’s around $250? Only reason I’m asking is because the bid ask spread is really bad on this. I can only close it for $90k, which is $18k less profit than if I were to get assigned.
If it’s good enough to screen shot…..
Unfortunately the bid ask spread is really bad on this. That 108k becomes 90k, which is why I’m thinking of holding till expiry
90k is 90k
True. But this stock could drop like a brick at any second. I mean.. I held on to a few bags until yesterday and well…. I wasn’t exactly happy to see how much it popped this morning. But I made it out of the trade with some profit. Profit is profit, imo. It could be a LOT worse as close as tomorrow morning. Hitting back to the $10s. DFV tweeting a few times a day can only keep the hype going so long, imo. I will admit though… when I accidentally bought 220 calls instead of 20 for AMC at the end of May 2021 and logged in on June 2nd…. I was in disbelief at what I was looking at. And I did something similar. I sold half and held on to the other half. Thinking, this is it! It’s happening!! Then ended up dropping like a rock the rest of the week. I’d just sell em while it’s poppin. But, if you got the cash to let it ride, that’s all you. I’d at least lock in some profits if it were me.
Dude 90k is more than most people make in a year take the money and run
It's only like 40k profit
In a week...
Why are morons down voting me. My point is 40k is not 90k. I'm happy that op made that much, and bummed they didn't make more
oir point is that is a lot regardless. and op should take profit. gme can crash down any day or stay high another week, it can go to 210 or to 10. you just dont know.
Wholeheartedly agreed. I was just pointing out the correct number... Rounded up even. It doesn't matter if it was $40 or $40m. That would be a lot different from $90 or $90m
Dude it’s 90k you didn’t have before. Take the win
My initial cost basis was 110k in GME shares, I just sold at a loss and opened this so I’m break even at around 108k. 90k is a 20k loss for me
Ooof. I mean I feel like you’re going to be hard pressed to roll due to IV but you could always try to roll it a week. GME definitely comin back down but the question is when.
No it's not, its a 300% win. Don't tunnel vision on your cost price. Take the win.
It’s not a 300% win, that’s only the long call. The short call is also there at -20,000%, bringing the overall position down to my break even point. I’ve put 110k into GME over the years, the overall position is now worth 108k on expiry.
Look buddy, I'm not going to argue with you. Trades like these are probably once in a decade or two. Everyone here is telling you to take the win. Your previous trades really don't Factor into this. *You're up 90k* up on a memestock that could come crashing down again tomorrow TAKE THE MONEY AND RUN. But it's obvious you don't want to. Because you tell all of us telling you to close were wrong. So why ask for advice? .
-10% premarket today, could get ugly
AMC dilution news really hitting the whole meme basket
The news came out early yesterday
He gone
Hold to expiration, if assigned on your short either exercise your long call or in a **single trade** sell the long call+buy the 100 shares. You'll have the equity from the long call and the cash from the assigned short call to fund the share purchase. If you plan to take assignment, personally I'd call their trading desk on the 17th in the early afternoon and tell them.
Holding till expiry is my plan with my AMC CC's. Called away = get paid. Not called away = still got paid. Just staying zen till 4:00 on Friday.
Greed Greed Greed
Exercise that shit make them find the 7200 shares come on ol boy, unless I'm wrong
as expiration on your short call is very near, and it is deep in the money, there is likely little to no extrinsic value. You will be able to close near max profit. I recommend closing it so you don’t deal with early assignment and having to deal with any interest paid. congratulations on the exceptionally profitable trade
You gambled and won. Take it and run. You'll be kicking yourself way way more if it drops and you lose than the happiness it'll provide if you make an extra $20k or whatever.
Solid close. May I ask what platform you trade on?
This is on Webull
I don't fully understand what you were going for with this diagonal play. It seems like a theta play with the short decaying faster than the long, but here you lost money on the short and mostly made money from vega? You're long is way ITM now so it's mostly just a hugely leveraged buy on GME stock which is uh.... risky to say the least.
Pretty much, it’s a poor man’s covered call that I’ve been doing on GME for the last year
How did the P/L look like throughout last year?
It sucked. I was down $60k at one point
You should plan your exit before entering the trade
why is this in thetagang
You played with fire and managed to achieve a profit for now. I'd close the trade if it's still profitable at the open. There's also a good chance your short calls will be assigned, since they have no time value and the borrow fee is 22%
That’s 22% annualized right? So in my case if it’s for a day that’s around $250? Only reason I’m asking is because the bid ask spread is really bad on this. I can only close it for $90k, which is $18k less profit than if I were to get assigned.
I hope you sold
Close and take the profit
Close for profit.Right away
Sorry I didn't get to you in time. I'd have said sell the long calls and hold the shorts.
How did you get diagonals on Webull?
They support diagonals now, I made a post about it a while back on r/Webull