I was told to sell covered calls to degenerates

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    Posted by kytran40

    40 Comments

    1. Itโ€™s only a loss if you close it. Let it expire and your shares get called away.

    2. Wait for real degens who prematurely exercise your itm calls that’s where the fun begins

    3. takenorinvalid on

      I mean, all you’ve really lost is potential profit. You’re still actually profiting from your original position.

    4. Covered though. Unless your cost basis is higher than the stock price, you’ll be fine.

    5. When they say picking up pennies in front of a freight train, they are talking about this guy

    6. DrMurphDurf on

      The negative implies you sold naked calls ๐Ÿ‘€๐Ÿ‘€๐Ÿ‘€๐Ÿ‘€๐Ÿ‘€

    7. Why on Earth would you bet against the crayon eating diamond handed apes you idiot?!?

    8. Chris_B_Bakin on

      I think itโ€™s just showing you the loss on the options leg of the trade. If you bought your shares at less than $17, you will have profited.

    9. I thought I was dumb for closing my 17 dollar calls for a 50% gain last week

    10. Infamous-Potato-5310 on

      If you press CTRL ALT DELETE enough times it will reset your whole life

    11. Aromatic-Tutor6254 on

      Let them expire and you are fine. Yeah you might have missed out on the theoretical stock gains but you got your money from selling the calls and you will sell your stock at 17$ so you theoretically havent really lost anything if you look at it like that.

    12. TheOneWithThePorn12 on

      Why would you do that many? Especially on a meme stock? Even if you never expected anywhere near this there is always this risk.

    13. hedgefundzpm on

      Its just play money, right? Now refill your account and have fun again.

    14. Flegmanuachi on

      LMAO. If you add a vertical line over that -, youโ€™re basically rich ๐Ÿค‘

    15. This is not accurate. You also own shares that are green but of course not yours. If you sold naked then yeah…get fucked

    16. DefinitelySaneGary on

      I sold my gamestop about 2 weeks ago at like 12 bucks a share. My wife, who kept saying I should have sold long ago, is now mad because of the money I could have made if I had held until today. FML

    17. EgodHodl420 on

      Just buy the same amount of shares through calls on leverage. That’s should be the inverse of the negative and put you back at net zero.

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