Youngerdiogenes

Youngerdiogenes t1_jacq8l3 wrote

Reply to comment by viperex in and I wouldn't change this system for the world. by moonyou22

The DTE really depends on you and how much time you have to manage your position.

The delta depends on the stock and your strategy.

.30+ delta is for people who snort cocaine amd share needles.

.20 delta is for people who appear normal but wear womens underwear to big meetings because it makes them feel powerful.

Anything less than .20 is for people who idolize Warren buffet and think pepper is too spicy.

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Youngerdiogenes t1_ja9poqx wrote

Reply to comment by Drivesabrowntruck in and I wouldn't change this system for the world. by moonyou22

Thats’s 80% true in my opinion. The other 20% is the lack of discipline. Even when selling safe covered calls on reliable stocks, the newer guys will sell a call on a stock, not realize it’s earnings week. And when the stock blasts past their strike, they suddenly rather keep the stock and buy their contract back for a loss.

Zero game plan and no discipline makes for a bad options salesmen.

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Youngerdiogenes t1_ja9m6n6 wrote

Reply to comment by polarbearbreeze in and I wouldn't change this system for the world. by moonyou22

Thetagang is overrated and most people lose money on it because they lack discipline.

If you’re interested, you can check out /r/thetagang or just research “covered calls” and “selling cash secured puts” on youtube. Plenty of good material out there to learn the basics.

Let me know if you need help, I’ve been around buying and selling options for years and might be able to answer your questions. Or at the very least point you in the right direction.

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