Ideal OPEX options strategy?

  1. Here’s what you could do: buy calls when we hit $114 again. Then if it keeps moving lower, average down when we hit $108.5. If it moves even lower, average down at $101. Then sit back and enjoy the ride. Just remember to take profit before the 24th or when we get near gamma max.

  2. Where is the best place to track gamma max, gamma neutral, and Delta neutral? I usually track it in Gherk's daily DD but when things start moving he sometimes doesnt have time to make the post? Work doesn't allow for me to catch most of the stream.

  3. Alternative average down strategy if you can’t afford multiple calls - they ain’t cheap - is to roll the call down as it moves down. Keep enough powder to keep rolling it down as necessary

  4. I thought gherk said in theory they can continue to short till the 24th. Why would the 24th be the last day to take profits from this run?

  5. Personally I think Wednesday fed news will drop the market enough to have a good buy opportunity. Calls should be cheap enough on the IV drop. Buy July/August monthlies to avoid the decay.

  6. No one knows, that might be too late. I'd wait and see what happens with the FED on Wednesday. That could be big spy downs that push gme lower or big spy ups that help keep it stable.

  7. Buying some today on the dip. Buying some tomorrow on the dip. Buying some Thursday and Friday as well. My weeklies next week will be bought as we begin a confirmed move up.

  8. Are you buying July and Aug monthlies or just weeklies? What strikes? I’m looking at July 15 125s and 150s are those too conservative?

  9. You can minimize theta decay by buying further out like Jan 2023. Then you can buy on the 17th, and you have the choice to hold longer, for relatively small loss on theta compared to earlier expiration dates.

  10. For me personally, I plan to buy further out and OTM for June OPEX, meaning that the theta decay for the weekend does not offset the risk of premarket action on tuesday. You could, of course, distribute your entries between this week and next week, with next week entries having a higher risk exposure to the upside and this week's entries a higher risk exposure to the downside and theta. Ideally, you would want to wait for IV to be below 100% as stated by Gherk in yesterday's stream, but there may be insufficient time for IV to fall below that.

  11. Part of the problem you’re going to find if you’ve been watching prices is that IV has been astronomical. You miss day 1 of Opex and FOMO in you’ll likely miss the biggest portion of gains

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