Any Vanilla Optionsfags here? >be poorfag that started in

>>1842587
>call broker
>we do cashless exercise
>locked in position deep in the money
>can't afford exercise
>they'll exercise the option and sell it immediatly to lock in profit

Feels nice being a liquidity provider

If you bet horses at least you get a show to watch.

>>1842690
We're on a board dedicated to cryptocurrency speculation and meme stocks.

I'm the safest gambler on this board.

>>1842587
you literally called the broker on the phone? like in the 80's?

whats cozy about that, how bout you use a computer like the rest of us

>>1844140
>call your broker to ask about their exercise procedures
>takes 5 minutes
>treated well and still place all trades on the computer

Do you use Robinhood?

>>1842587
>options
>no margin
You Level 1 options noobs are hilarious. Covered calls are babbies first contract.

However, this is a 18+ website, so how about you come back when you take off the training wheels.

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nobody uses options anymore even institutes prefer cdfs

>>1844177
>want to have more diverse discussion other than crypto shilling and robinhood meme stocks
>dead thread
>you call your broker? fucking nerd
>your're trash because you can't sell straddles
>someone compares long options to horse racing

I'm out. Just remember that you fags get out of here what you put in and you're here forever.

>>1844177
t. Paper trader who just made his first 100,000 on a high risk google trade.

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>>1844201
I don't paper trade and I don't make of people for having only Level 1 options access because I'm jealous of them. I know it probably comes as a surprise, but there are actually people on this board with actual investing experience and wisdom. Maybe you should turn down the snark and listen more.

>>1844196
Look kid, if you want to discuss covered calls, then discuss covered calls. But don't greentext a grandpa-tier trade and try to make it sound like you just bankrupted Goldman Sachs.

>>1844163
>buys options
>assumes others use RH when you are the bottom of the retard totem pole

>>1842587

Yeah I trade options. I've been shit at it so far. Surprisingly, I've managed to break even through my mess ups. I sat down 2 days ago and decided to revamp my whole stategy, and write down a set of personal rules for myself. Definitely feel better about the planning, all that's left is to hop out of the last bad trades of my previous rounds and see if I can make anything with this.

>>1842587
my broker won't let me long naked options.

Stupid I know. There's only limited downside risk and the broker makes their jew fees. I don't understand why they won't upgrade my account level.

As a complete newbie, could somebody share some advice/books/strategies to look into.
I'm more interested in high risk/high reward strategies because options are going to be maybe 5-10% of my investments/capital.
I'm talking about Level 1, not Level 2 or 3.

>>1845177
kill yourself.

>>1845190
Fuck you.
I was asking for soemthing I can read and research.
I'm not a crypto or Robinhood idiot. I'll probably have to learn this shit for a few months, do some paper trades for a few months before I even start to trade with money.

I've read Options as a Strategic Investment by Lawrence McMillan
Currently reading The Business of Options by Martin O'Connell
On my list Dynamic Hedging by Nassim Taleb

>>1845177

Level 1 with advanced strategies? You won't have the privileges to do a lot of stuff. When it comes to option trading, always get as high of privileges as you can possibly get. You don't want to purposely limit yourself. You may not be able to get the ability to write naked options, but at least the ability to write spreads or any risk defined alternative to naked writing.

as an open question to all the retards saying "my broker doesnt allow level 1 2 3 whatever.."

why dont you just change brokers? literally only a computer checks at account creation if you select objectives as 'speculative '

do you idiots think there is one jew at a desk with a big rubber stamp denying option applications?

jesus

>>1845559
Maybe because options trading permissions are much more about your ability to qualify for large margin accounts than the quality or extent of your financial knowledge? Brokers don't really care if you know what you're doing or not ... they care if you're able to pay for your fuck ups or not.

Changing brokers isn't going to improve your net worth or creditworthiness.

>>1845584

What is your account size? What's your annual return?

>>1845584
looks like another reading comprehension issue-
you type in whatever net worth you want .. its just a computer checking it.

>>1846562
>its just a computer checking it
Maybe, but not really. Whether you get a margin account is a credit decision made by your broker, as is the amount of credit they decide to extend. Small credit/margin approvals are probably done by computer, but you can't fake your credit score. And larger margin access requires human intervention. Trust me, you don't get 6- or 7-figures of margin credit without a human reviewing your account.