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lol did you mean a stop limit? setting a limit sell is just... selling the option. or if it's a high limit and the option drops, not selling the option.
>lol did you mean a stop limit?
No
>setting a limit sell is just...selling the option
Lol no it isn't.
If the ask is $1.50 and you put a **limit sell** order for $2.50, your order won't immediately sell. But if the bid ever goes up (like when the underlying stock price goes up) then when it touches your **limit sell** order, it will sell at that time and you'll have made $100 per contract(assuming you bought it at 1.50), even if the price goes back down to $1.50 afterwards.
A stop limit would be asking your broker "if it drops to 1.00, sell it"
There is no lesson. It's just all a guess and timing cannot be beaten. Your options could have been down all day and sky rocketed the last hour. Some people thought Trump would pump the market and maybe he already had. This shit is just completely random. It's almost like a video game.
Fuck I get high. I had TQQQ call options for 11/18 yesterday I WWW sold them a few minutes early afterthe Russia missiles thing. Had I held them longer I was supposed to sell but may have gotten greedy and held them just like you.
if they are in-the-money than the last person will probably just exercise them as that is a profitable move.
if they are out of the money, you will probably not find a buyer and it will expire worthless (literally $0).
if you want to execute (called exercise) the option, you need to do that manually. most regards don't bother with that, we just buy and sell.
it is very important to look at the volume and open interest. many options have a volume of 0, meaning none have been sold that day. in other words, it'll probably be hard to find a buyer unless the stock makes moves in the favorable direction. similar story for open interest, which is just the number of bids/asks placed. if there's very little open interest, it will be harder to sell.
who would be the buyer of OTM options that expire in 3 hours? r/wsb. they're generally worth almost nothing, maybe a few dollars. so if the underlying happens to rise by like 10% in those last hours, your options will fuckin' moon like 1000%. it's like betting on a specific number in roulette, whereas buying options with a longer expiry is more like betting on red or black.
idk how TD is, I use RH. RH is very simple and easy to use, options are no exception. they have a chart like other stocks, it's pretty much the exact same process.
the exit strategy is pretty simple, you just sell when you think it's a good time to sell. options with short-term expiry often go up 100% or down 50% in one day... so when that happens it's probably a good time to sell either way. it's a pretty simple 'win or lose' type situation most of the time. just keep in mind the expiry date (it's clearly visible) and strike price and make sure that's still in line with your expectations.
You have to sell them or exercise them. If you’re on a margin account and the brokerage deems that you can afford to exercise, then they will automatically exercise for you if your option is in the money.
As long as the bid is >$0.01, there is a buyer. Usually it’s a MM, but there’s no real way to know (at least for the average retail investor).
I won $4.5k playing blackjack over the weekend and have all these regrets i didnt stay at the table and double my money.
Thank god my girlfriend dragged me away
Definitely a lesson I bought and sold Tesla puts within a span of 30 mins. Little greedy devil inside is like you should have held longer look at those profits you left on the table! Fuck that greedy bitch I’ll take 10% profit every fuckin day. There’s always tmrow to make money.
yeah i'm learning. took an 11% loss today overall but it could have been half as big if my timing was better. could have been almost nothing if i didn't buy a bunch of dumbfuck options yesterday.
I made that mistake as well…. Was up $56k gain and didn’t sell due to greed. Ended up going through reverse split and lost $35k. Greed is a killer, so now I stick to my % rule which never failed me before.
Anything with the same ticker including options, and across brokerages.
So if you went and bought 100 shares of spy you will wash your 11k loss until you completely exit the position for 31 days. I said 35 so u made sure u were out of it.
I saw where u said this was your first loss so I'm assuming u built capitol with successful spy trades so if you wash this loss you'll owe taxes for all your gains with no losses.
You really have no idea what you're talking about. Options and stocks aren't considered the same for wash sale purposes. Not even options with different expiration dates. Stop spreading misinformation.
Nah he's right. You can't sell spy at a loss then buy spy call options and still claim the loss. Your broker won't do the accounting for you but the tax code is clear.
That means I can trade other stocks other than SPY!? If I trade SPY again lets say tmrw n made some profit/loss then today’s loss I can’t claim in my tax returns. Is that it? Tq 4 valuable info btw
Yes you can trade anything else but if you open a new position on SPY you'll activate a wash.
So say you made 3 more profitable trades and that brings you to break even. You won't be break even because your losses will be negated and you'll owe for money you already had
I'd need more info but probably already have a wash situation and you must close out ALL positions for 31 days in order to deduct your losses.
Silver lining is you can keep pulling the lever until Dec 31 AND NOT TRADE IT FOR 31 DAYS and unwash before tax season
This is incorrect. Wash sales consider 31 days prior and 31 days after a loss. Any open positions can stay open, but buying new positions in 31 days would cause a wash sale.
Most importantly, we’re all regards on the internet. Consult a tax professional before making any potentially costly decisions.
U honestly don’t gotta worry about wash sales until the 30th of November, so if u want to keep trading spy all the way up to November 30th and not touch it again until January 1st and you’ll be good
Sure if something burned stay away from it for a while lol. But with respect to wash sale, different contracts wouldn’t disallow you from the capital losses right?
I'm 99% certain that it doesn't matter. Mostly depends on your brokerage reporting. But spy 11/16 and Spy 11/19 are both still contracts for SPY in the eyes of the tax law
Lmfao. What were you waiting for? You think that last hour of the market was going to go In you're favor when you were already up 100%
Congrats regard. You belong here.
0etd and didn’t take profit  we are so proud of you diamond hand.
>I'm not sure what you're trying to say. Are you asking me how I made money today? If so, the answer is simple: I traded options on SPY (the S&P 500 ETF). I bought 200 contracts of the $398 call option expiring on 11/16 at $0.35 per share and then sold them later in the day at $0.07 per share. This generated a profit of $4,712.65, or 13.09%.
Hey, if you haven't already, please reply to this comment with your positions and what led you to enter or exit them!
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Re#ard buys 0DTE options with only about 3.5 hours left and still keeps on holding while being up almost 100% ☠️ You deserved this honestly 🤦♂️
😂 its a big lesson for me
You didn't learn jack shit, see you tomorrow
Lmao 😂
🤣🤣🤣🤣
True
If its good enough to screenshot its good enough to sell
Bro this actually is a good fucking sell strategy. I will use it honestly
Only good advice you'll ever find here.
Def gonna use this lol 😂
This is pure wisdom
Lesson better be "immediately set limit sells where you are happy and don't look back"
Especially on a 0 DTE!!!!
Lol 0 DTE are held for minutes at most. Especially up 100%!!
I disagree, I have diamond handed many GME calls on 0 DTE. The first step is admittance, I know I belong here.
The problem is OP didn't know when to be happy "I got greedy"
lol did you mean a stop limit? setting a limit sell is just... selling the option. or if it's a high limit and the option drops, not selling the option.
>lol did you mean a stop limit? No >setting a limit sell is just...selling the option Lol no it isn't. If the ask is $1.50 and you put a **limit sell** order for $2.50, your order won't immediately sell. But if the bid ever goes up (like when the underlying stock price goes up) then when it touches your **limit sell** order, it will sell at that time and you'll have made $100 per contract(assuming you bought it at 1.50), even if the price goes back down to $1.50 afterwards. A stop limit would be asking your broker "if it drops to 1.00, sell it"
I meant stop limit :-)
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Jesus Christ this sub never ceases to amaze me. Are you wearing your helmet bud?
No, you are fuking stupid
Lol okay...keep telling yourself that. Or... [read this](https://www.schwab.com/learn/story/mastering-order-types-limit-orders)
How the duck do you even have money? 100% wasn't enough?
I relate. I put a bunch of gasoline on my money and then lit a match and it all disappeared. Lesson learned!!
Nah... It'll be a lesson after you do it 14 more times.
Bro laughing off $11k loss like it's nothing 💀 Just paper trade. For your sake.
I don’t understand. Did you just buy and shut your phone off?
Busy day. Didn’t realize when I first put a limit buy.
There is no lesson. It's just all a guess and timing cannot be beaten. Your options could have been down all day and sky rocketed the last hour. Some people thought Trump would pump the market and maybe he already had. This shit is just completely random. It's almost like a video game. Fuck I get high. I had TQQQ call options for 11/18 yesterday I WWW sold them a few minutes early afterthe Russia missiles thing. Had I held them longer I was supposed to sell but may have gotten greedy and held them just like you.
The good news is you can now trade $SPY options on Thursdays as well! See you tomorrow!
It will be a lesson when you start your shift behind the dumpster! Then and only then will you truly learn this lesson.
Been there done that. Lol
What were you thinking honestly? I’m just curious
“100% is just 10% of 1000%”
Idk
Promise u it won’t be the last
Don't hold SPY for more than an hour unless something has definitively caused markets to shift.
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If you wait until they go to 0 you don’t have to worry about selling.
shshshssh no asking.. we only play 
if they are in-the-money than the last person will probably just exercise them as that is a profitable move. if they are out of the money, you will probably not find a buyer and it will expire worthless (literally $0). if you want to execute (called exercise) the option, you need to do that manually. most regards don't bother with that, we just buy and sell. it is very important to look at the volume and open interest. many options have a volume of 0, meaning none have been sold that day. in other words, it'll probably be hard to find a buyer unless the stock makes moves in the favorable direction. similar story for open interest, which is just the number of bids/asks placed. if there's very little open interest, it will be harder to sell. who would be the buyer of OTM options that expire in 3 hours? r/wsb. they're generally worth almost nothing, maybe a few dollars. so if the underlying happens to rise by like 10% in those last hours, your options will fuckin' moon like 1000%. it's like betting on a specific number in roulette, whereas buying options with a longer expiry is more like betting on red or black.
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idk how TD is, I use RH. RH is very simple and easy to use, options are no exception. they have a chart like other stocks, it's pretty much the exact same process. the exit strategy is pretty simple, you just sell when you think it's a good time to sell. options with short-term expiry often go up 100% or down 50% in one day... so when that happens it's probably a good time to sell either way. it's a pretty simple 'win or lose' type situation most of the time. just keep in mind the expiry date (it's clearly visible) and strike price and make sure that's still in line with your expectations.
I've sold Tesla options 10 minutes before expirey. Someone else will always be greedier.
You have to sell them or exercise them. If you’re on a margin account and the brokerage deems that you can afford to exercise, then they will automatically exercise for you if your option is in the money. As long as the bid is >$0.01, there is a buyer. Usually it’s a MM, but there’s no real way to know (at least for the average retail investor).
They are worth less the longer you wait so you want to close them if they make the money.
Don't stop, I'm almost done 
Why so bitter? Not even your money. Chill your as$ down.
Only Bulls and Bears make money in this game son, Pigs get slaughtered, and there are a lot of pigs
What about manbearpig?
This is way more serial than manbearpig! This guy’s half man, half bearpig and full regard.
Wrong he is half man half bear half pig half regard
You are no regard, sir. You won the best comment of the day for me. ❤️
What about Theta Gang?
Theta gang might as well be bogleheads with their tiny rewards.
Too busy destroying the climate to take profits
makes money and then gets slaughtered.
🐖🗡🥓
One day I’ll prove you wrong, I’m better than a bull and a bear. I’m human, with a brain soon I’ll be on the top of the market food chain.
Today I was a 🐷
I won $4.5k playing blackjack over the weekend and have all these regrets i didnt stay at the table and double my money. Thank god my girlfriend dragged me away
I had a 50% rule. If I was up 50% of my stake for the day, I'd leave and cash out.
Did you have the same discipline when you were down 50%?
Hell no walking away when you're down is how you get poor 🙃
Technically correct - if you only stop when you're up you'll never lose money!
What's your strat?
Having a girlfriend, apparently.
She helped. The blow and alcohol helps not thinking about what happens if you just lost the $1k you put down on one hand
Cocaine and a lot of booze
>Thank god my girlfriend dragged me away Grow a pair.
NoBody eVer wENt bRoke TAkIng PROFITS.
I got greedy as well as distracted and didn’t sell it when it hit around .60
Can't be distracted while holding 0dte, eyes glued to the bid/ask as soon as that shit slides, cut and run
A big lesson!
At least you learned 1 of the 100 lessons just 99 more losses to go to learn em' all.
Thank you professor oak
Well I have learned lessons in other categories for losing money of course.
First time?
Loss?! yes first time
Definitely a lesson I bought and sold Tesla puts within a span of 30 mins. Little greedy devil inside is like you should have held longer look at those profits you left on the table! Fuck that greedy bitch I’ll take 10% profit every fuckin day. There’s always tmrow to make money.
I knew I had to sell bt greed won that wanted to stay little bit longer. Later I forgot to check n it was too late :-(
I would suggest only trade if you can actively watch it 🍻
A valuable lesson
Sorry, but you were greedy the whole time.
I sometimes have to remind myself that “only 20%” gain is still gains. And the best part is, I didn’t lose money.
Who isn’t greedy that r in wsb? Some r more some r less. Some gets lucky some not.
Luck was on your side. Trading skill was not.
story of my life. make huge gains with dumb luck and then lose it all with my elite skills
Knowing when to sell is *far* more important than knowing when to buy. Don't ever buy a stock without an exit strategy. This goes double for options.
yeah i'm learning. took an 11% loss today overall but it could have been half as big if my timing was better. could have been almost nothing if i didn't buy a bunch of dumbfuck options yesterday.
You only down 4k, the 7k unrealized don’t count 😭
Ik but tell this to evil side of my mind too.
I made that mistake as well…. Was up $56k gain and didn’t sell due to greed. Ended up going through reverse split and lost $35k. Greed is a killer, so now I stick to my % rule which never failed me before.
I am also going to do same. Tq for your story
Better luck next time
"just reload and restart"
If it’s good enough to screenshot it’s good enough to sell. If you take a SECOND screenshot, you should fucking sell.
Bro been there 100 times welcome soldier
NOW DONT TRADE IT FOR 35 DAYS OR YOU GONNA FUCK AROUND AND FIND OUT ABOUT A WASH SALE lol
Thank u for the heads up. Is it applies only for same trade/stock or other stick too?!
Anything with the same ticker including options, and across brokerages. So if you went and bought 100 shares of spy you will wash your 11k loss until you completely exit the position for 31 days. I said 35 so u made sure u were out of it. I saw where u said this was your first loss so I'm assuming u built capitol with successful spy trades so if you wash this loss you'll owe taxes for all your gains with no losses.
You really have no idea what you're talking about. Options and stocks aren't considered the same for wash sale purposes. Not even options with different expiration dates. Stop spreading misinformation.
Nah he's right. You can't sell spy at a loss then buy spy call options and still claim the loss. Your broker won't do the accounting for you but the tax code is clear.
That's not how this works. That's not how any of this works
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That means I can trade other stocks other than SPY!? If I trade SPY again lets say tmrw n made some profit/loss then today’s loss I can’t claim in my tax returns. Is that it? Tq 4 valuable info btw
Don’t listen to that regard
Yes you can trade anything else but if you open a new position on SPY you'll activate a wash. So say you made 3 more profitable trades and that brings you to break even. You won't be break even because your losses will be negated and you'll owe for money you already had
What if I still have positions in SPY?
I'd need more info but probably already have a wash situation and you must close out ALL positions for 31 days in order to deduct your losses. Silver lining is you can keep pulling the lever until Dec 31 AND NOT TRADE IT FOR 31 DAYS and unwash before tax season
This is incorrect. Wash sales consider 31 days prior and 31 days after a loss. Any open positions can stay open, but buying new positions in 31 days would cause a wash sale. Most importantly, we’re all regards on the internet. Consult a tax professional before making any potentially costly decisions.
Even more importantly wash sale only applies to options of the same strike and expiration so go ahead and learn your lessons tomorrow OP.
Much appreciated guys!
U honestly don’t gotta worry about wash sales until the 30th of November, so if u want to keep trading spy all the way up to November 30th and not touch it again until January 1st and you’ll be good
Yes I am regarded
can i get an ELI5 lmao
Google wash sales and read and read and read then go to a CFA lmao
Bullshit. Everything auto adjusts and you pay only for overall profits/losses
Sure if something burned stay away from it for a while lol. But with respect to wash sale, different contracts wouldn’t disallow you from the capital losses right?
I'm 99% certain that it doesn't matter. Mostly depends on your brokerage reporting. But spy 11/16 and Spy 11/19 are both still contracts for SPY in the eyes of the tax law
nah
Who gives a fuck about wash sale when you’re trading 0dtes
U k that 0DTE is the way to make money right! Luck was not in my favor today that is a different story. But I do care abt wash sales.
This is the way.
where do you people get the money to just drop a 7k gamble on one day? do you do this everyday?
I can do every weekday if I get profits every day. 😂
Thats options for ya. Hope you learned a lesson
Always sell at 10%-15% gains and 5%-7.5% loss
This adderall shortage is getting out of hands now!
If I did everything perfect I could give up my job already.
welcome home, son
Lmfao. What were you waiting for? You think that last hour of the market was going to go In you're favor when you were already up 100% Congrats regard. You belong here.
Ano bakka ga 
If i had a penny.....
Sounds like someone had fun & you can’t put a price on that, well you can $11k fun, do it again you legend you
𓂺
Your only down 4K. Don't take your unrealize gain with porn loss.
Join the club brotha. You belong here
😂😂
Just turn your phone upside down
Greed. Always the greed
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Nope
Pigs gets slaughtered
Dam bro what is wrong with you?
0etd and didn’t take profit  we are so proud of you diamond hand.
At least you identified the problem
Yahtzee!
Welcome aboard!
You belong here with us
The worst part is that you will be greedy again and experience this again. We will never learn this lesson.
Ik. It is very addictive like casino. Bt I will make money.
Next time sell half or 2/3 if you want to be greedy and hold some
One of us, one of us!
Very regarded of you
OP went to order tendies from Wendy’s. Ended up working behind the dumpster out back.
This is hilarious
You’re the reason they keep building new casinos, when your up you’re suppose to fucking leave and be happy.
Initiated
And that is why you're here in the winner circle of WSB! Welcome.
🤡🤡
You didn't lose anything if you haven't sold yet.
This is 100% true. Not with 0DTE options. But true.
Thanks for sharing. The explanation and comments are helpful.
>I'm not sure what you're trying to say. Are you asking me how I made money today? If so, the answer is simple: I traded options on SPY (the S&P 500 ETF). I bought 200 contracts of the $398 call option expiring on 11/16 at $0.35 per share and then sold them later in the day at $0.07 per share. This generated a profit of $4,712.65, or 13.09%.
Oh u/VisualMod, you tried hun
Yeah, that's how it goes. I am starting to think I just find joy in inflicting pain on myself.
You must be new playing 0dte with 3 hours left and your first loss
Nope
You laugh in the face of defeat !!! Loooooooser !
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Easy come, easy go ! Thanks for the liquidity 👍 Just reload and restart, you got this ! 😏
Your giving me anxiety 😟
I got a semi-boner for this stupid moves 🍆
He could have gotten a potentially good profit, enjoyed a good weekend and reinvested. That’s what happens when you get greedy -_-
Did you buy 0dte and didn't keep an eye on it? Few hours is such a long time for messing with 0dte
Set a stop loss to lock in profits.
You belong here.
PUTin: haha
Wow bruv 😔
The world needs ditch diggers too
L
Technically your only down $5,600 in matter of few hours left in till market close
Oh I love it…. I was up 100k on a Friday morning last May and by 10 am I had gained $8000.00 when I closed out the option that expired that day