You don’t get to use the premium, it’s held in escrow as collateral against the position. There is basically zero chance NVDA goes in the money on these, but that wasn’t the goal. The real way this trade is profitable is any spike in volatility will decrease the spread. I.e: I opened the spread and received a $29.99 premium by putting up $0.01 in risk. NVDA earnings has a 5-7% run up in a few weeks… (very possible, look around at all the insane volatility) Now the spread is “more likely” to hit, IV increases, and there are buyers for $26-$28. I close the position for $27 and keep $2.99 x 100 x 225 =$67,275.00 for ~$250 in risk. This play is about as dumb as buying single leg call options that are deep out of the money. It’s dumb, and gambling, but not as regarded as the millions of people in this sub that don’t actually understand options.

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Username checks out

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Bust out that vest

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How did you lose on this? You were assigned above breakeven. Just close out the stock for the gain and get the increased extrinsic from the long put value increase? You should have made out with a gain...?

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No need, we can tell from a mile out

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#OUT OF THE MONEY CALLS WITH THREE WEEKS LEFT? PRAY FOR PEAK LIZARD FROM CUCKBOY, UR A 6 ON THE SCREWED SCALE WITH THETA INCREASING LMAO 🤌

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Uh oh, looks like I struck a chord with the trailer trash. Enjoy getting your back broke by Cletus tonight while the rest of us are out getting pussy

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They've still got another 15 dollars to fall before they even out and go flat for a month.

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Comment/reply here if you want me to let you know how it turns out

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So let's say it works out. what's stopping chatgpt from also supporting other popular payment methods, like apple pay?

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