I'm selling a $5 put. This was my first time selling a put trying to get into the wheel strategy. Is my only course of action basically just to humbly accept my $40 max profit?
Selling $5 LUNR put …. it mooned.
byu/dukeofpuddles inoptions
Posted by dukeofpuddles
24 Comments
Yes
You could, I dunno, brag about it a little bit.
Of course. You should have known what your max profit was before going in.
If you aren’t happy with the $40, don’t sell the put.
Also sold $5 puts hoping to be assaigned and get a lower average. I’m pretty upset because I was being a cheap ass trying to get in lower and missed big. But profit is profit, i guess.
Have some balls next time, sell a put and buy a call with the proceeds. JK be happy it didn’t crash to a $1, selling puts is not a good strategy.
What does moon means? It’s not related to the mid autumn festival of eating moon cakes is it
Look at this guy and his profits.
Yeah, I sold $7 March 2025 puts. Looks like I could hopefully reach my max profit! Or just buy back tomorrow to close the position and use the profit to buy more calls or exercise some 10/18 $4 calls.
i sold 10 for next week today. i will humbly accept my 160 max profit
Hell yeah brother, nice job. Now onto the next one, build that profit over time, compound those gains.
I sold some ING puts 2 month ago. Aim was either to get the stock for a good price, or get a little pocket money. Pocket money I got.
You can put your put away if you don’t like it
It looks there’s a pretty good short % on LUNR too. Hoping for a major price spike tomorrow!
Lmfao, this is what you want. Yes, take your profit and move on.
Selling puts on a meme stock is so funny.
No one saw the +50% pump, but FFS why would you sell puts on LUNR?!
Selling options is how I finally started making money in the market. A bunch of small wins is way more realistic than a single big one.
Can someone explain, if he sold $5 puts, doesn’t that mean he should be losing a ton of money now?
I thought $5 put means that he’s betting it will be under $5, and the lower it goes the more money he makes? So conversely going to $8 would make him lose a ton of money??
I had a chunk of shares and sold yesterday to “free up some buying power” for whatever happens with the rate cut, figured I’d get back in in a few days. Whoops.
(I’ll probably lose on whatever I try to do around the rate cut, too.)
Enjoy the free cash. Better than dropping. Rinse and repeat.
The real question is if I should sell my $5 call tomorrow assuming a gap down, or hold it until March to see if they’ll continue to gain momentum
Congratulations. And also could you explain how you made puts please
Buy the put back
Personally, I’m going to wait until it’s right around the peak, buy a ton of it, cuss up a storm as it pulls back, and sell off in a fit of anger. Later this week, just for kicks, I’ll check and see it went back to the moon.