@jace0777:I opened $MRVL 20240503 72.0 CALL$ ,🎡 wheeling MRVL this time. Noted a strong negative gamma at 70 but not much more above that. This is indicative of a price pull to 70, but price may lack conviction to move further up in the next week. So experimenting with a covered call at 72, a little lower than my cost basis to try and capture more premium. Let’s see if this experiment pans out well next week. 🤞
@jace0777:I opened $MRVL 20240503 72.0 CALL$ ,🎡 wheeling MRVL this time. Noted a strong negative gamma at 70 but not much more above that. This is indicative of a price pull to 70, but price may lack conviction to move further up in the next week. So experimenting with a covered call at 72, a little lower than my cost basis to try and capture more premium. Let’s see if this experiment pans out well next week. 🤞
@mster:I closed 1 lot(s) $TSLA 20240503 135.0 PUT$ ,This Put was a 3 weeks contract, closing it and locking in almost 95% profit with 1 more week to go, this shall free up some leverages for better opportunities.
@mster:I closed 1 lot(s) $AMD 20240426 157.5 CALL$ ,Closing this CC as the 2nd part of the Rolling strategy as already buy to open the 2nd leg earlier. Rolling an short option contract usually is done with Buy-to-Close then followed with Sell-to-Open or simply use the roll function if it’s available, however I have opted with doing it in reverse sequence. A bit riskier, but if it goes your way, we collect a little more premiums. However this option could too expire worthless 😅