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I just sold the Dec $400 calls against my $300 Synthetic Long that cost me $6. I hedged at stock price $369,

I telegraphed this trade last nite

I got $19.80 and $19.85 for them.

I roll up at $420 if we go that high.

Rem my SL cost me $6 a share.... that position is now worth nearly $60 a share and i just retrieved more than 3x my cost basis.

Stealing Candy from a baby

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Art

I think I’ve heard once James saying that the options conditions are not identical in US and Europe, something like while in US one can close their positions at any time, in Europe they are bound for 1 year from acquisition. Is that true or one can sell/buy options at any moment? Thanks for illuminating me! 🙏

Daz

Yes cash and margin are the same but it's not stated anywhere that there is more in the trade other than the $6 SL which is why it is so appealing to everyone wanting to make 10x your money. 6 to $60. When really there is an extra 20k needed to make it work. Still great returns just not what it looks like.

An80’sguy

I believe you can buy/sell at will. You just can’t exercise the option until expiration in Europe. In US you can exercise at any time (although you’d forfeit the time value and probably have to call it in to your broker)

Tam2Cham

100% agreed - most of your followers have NO IDEA how to do this but very much want to so they can make the kind of money, taking candy from a baby. that you are. We would GLADLY take on the risk ourselves but literally need someone to take a bunch of us by the hand and show us how to get set up and execute these trades, or have someone we pay a fee to do it for us. Just lost on that stuff

FinglisCave

Looks Simple but I just don't understand how this works - too thick for options trading unless someone can do a line by line "Why" I did this, I will remain clueless! Why those prices, etc.?

FinglisCave

Sounds like you need about $70k to $100k to make these trades? That is a lot of money for most to risk in trading options as a beginner?

PapaShaneo

Schwab has some pretty decent videos on options trading.

Colby

Jay, we need you start an investable fund, ive already got ur ticker though, don't worry it's JMSR....

Marcus Antony

Seems like a lot of front running to me really not feeling very comfortable. I mean when you talk about being in sol at $8 I mean, doesn’t really do much for anybody who’s looking at trading at 150 or 120 or 180 right mean at eight dollars is not like price point. Someone might have an opportunity to get in the last couple years not really sure that’s helpful.

BsTARD$uN

I 2nd that idea, for all James Loyal members of Patreon. I need something, I worked for decades in a Fam owned business LOYAL AF, and for that somehow I ended up being relieved of my assets. Long story, I am looking for a serious lawyer interested in possibly setting precedent in Family Fraud Narcist Abuse. Seriously could use a referral to send me in the right direction on that. Thanks.