PMCC

 Was exposed to another strategy

which interested me quite a bit

it is the Poor Man's Covered Call

which is buying a leaps call option (80 delta)

and selling calls on it (20 delta)

The stock I want to do it on is ABNB

which I am bullish in the long term

and which I use

and which I want to use more in future

when I am very financially rich

so when should I initiate the strategy?

when the stock is beaten down, and is close to a support level

why?

so that you do not have to sell calls with strike price that is too low

because if you are able to get assigned

and roll it,

it is better to roll it at a lower price

if you roll it at a high price,

and the stock keeps crashing,

there will be a long period of time you will not receive any premiums

until the stock recovers.

currently, the PS is around 20

it will be good if it is lower.

it will be good at around 130 or 150 level

depend on how the new covid variant, omicorn behaves

PMCC is good because if allows me to stake more money by using less

if I can buy 2 LEAPs of ABNB

the premiums I can earn weekly is very high.

I see what I can get from 1 portion of my fund

which is 10k.

the other stocks are CRM, PLTR.

but crm is quite high in terms of the chart, and PLTR PS is high at 30.

Sold Z call

 Sold call on Z, at 0.5% premium, expiring 2 wks later on 3 Dec.

Reason for selling is that the price rose 3.5% today

probably because it has reached a support level at $55

Also thought of why I do not earn a few dollars by selling calls that are far from the current price

it is because I rather not earn, and wait in case there are spike in the share prices

that might jump up closer to the assigned price

and I can sell more premiums from there

Taste of all assigned

 I have around $50k for options, and all 5 positions are assigned

it is good that I have a feel that a down month looks like

today I managed to sell 2 calls

not for a good premium

but got around 0.5% of premium

the shares rose slightly, at around 1%

it is good I experience all assignments

to get a good sense how doing the wheel strat is like

for the rest, I will see if they will have any rallies

which is unlikely to make much difference

as some of them drop even further away from the strike price

maybe I can start looking at fly rescue missions, to lower the cost basis.

Should have sold PLTR call

 Should have sold call for PLTR

I have been assigned the share

but did not sell calls on it

as felt that the premium was only around 50%

I should have done so

as the price rose on Monday

if the price rose, it is harder to rise again

means that it is harder to get assigned, and also harder to have a better premium

4 activities

 Received 3 assignments over the weekends

PLTR, TDOC and SHAK

Managed to sell calls for SHAK and TDOC today

premiums are quite good, at 1.9% and 1.1% respectively

I sold calls at the strike price I got assigned

also sold puts for Z, which I did not get assigned

strike price is $62, premium is around 1%

Did not sell call on PLTR yet

the premium is not good at strike price assigned

will wait for a while to see first

currently the price is up a bit

not really sure why the premium is not good for PLTR

even though its IV is around 0.5

Sold PLTR puts

 sold palantir puts

400 of them

watched a video on them about their earnings released just before market open

their result is good, they decreased their expenses by a lot

and also decrease their cost of revenue by a lot

while growing their quarterly revenue by 35%

got 1.6% premium, with strike price at 24.5

but once I bought it, the stock price fell further

for the first few minutes, the stock price was -7%

Sold SHAK again

 SHAK price rose a lot

after earnings

I think previously I sold puts with strike at $68

current price is around $90

I still like SHAK

their PS is still around 5, very good for a growth company

I like dining there too

Mark Cap is small at 3Bil too

I got premium of 1% for strike price of $86

around 23% delta

Entered TDOC

 Its a Friday, and all positions are not assigned

my account crossed US$3k, which is good

I also sold TDOC puts @ $141

I am happy with the tnx

premium of around 1%

and delta around 20%

sometimes, I will go for lower detail

especially when the price is not yet at the support zone yet

and is at the middle of a support and resistance

so it is good that you set the strike price lower, 

and not be greedy for premiums

1% is still very good

Zillow puts

 Sold 1 Zillow Put today at $63

I dodged the bullet when it crashed

previously was selling puts at $93

now it crashed to around $65

They are exiting their ibuying business

which flips property

it is an asset heavy business

now they continue to focus on their strength

which is their internet business

they call it ITM

it earns from commissions of agents

they still have opportunities

due to buying real estate still have many pain points

they will layoff 25% of their work force

and become more asset light

so it is a good business

to own during this crash.

OPEN puts

 Previously I did not like the share

as I trust chamat , the angel investor less

after he tell people to hold Tesla share and sold it himself

I liked the company, the look and feel of the website

today I sold 500 puts of it

that expires tmr

very good deal, as I can get 1% premium, just for 1 day

it dropped due to zillow

zillow crashed as they want to exit the flipping business

and people are fearful that OPEN is also dangerous

as OPEN does mainly the flipping business

I also want to sell puts on Zillow too

but think that I should be abit more diversified

and not sell 2 puts on 2 real estate businesss

zillow premiums are also very good

for tmr expiry

and Katie Wood also just added more positions

besides that, I also managed to close NIO and LVS positions

got 93% and 97% of the premium respectively

PLTR puts

 sold 4 palantir puts

it is expensive

as it is not really the PS ratio that I like, at 37

and its market cap is quite big too, at 50bil

but I quite like the company

and it is something I dont mind owning

in terms of the price, 24.5, the strike price, is in the middle of a support and resistant zone

also was glad I did not sell any puts on Monday

Tuesday there was a crash of many stocks

but did not enter due to many of them that I like having earnings call this week

so if it is a green day

it is ok to wait for a few days

cause price movement has more value than taking more premiums

waiting a few days is also ok

i just aim for the premiums that Markus is ok with

which is 30% annualized, which is around 70% of the strike price