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Re: littlejohn post# 13529

Saturday, 11/18/2023 12:20:15 AM

Saturday, November 18, 2023 12:20:15 AM

Post# of 14781
lj: Forget it and move on, is my advice. I am beginning to think it would be better, at least for the sake of my portfolio, to swing trade stocks rather than sell options. Calls are no longer something I will even consider. Well out of the money puts might still be in the cards, but, I might not even sell those. They tie up money until the expiration date. Selling puts does make sense if you want to own the stock at a lower price. You get paid to wait.
I could have ponied up $8K recently to buy back the January NVDA call I sold many moons ago, and the strike price is $300, not $350, as I previously stated, in error. NVDA made a bottom then started a march north. The last time I checked, the cost of buying in the call was something like $14K. I have a decent profit in the stock at $300, but, I do not want that profit on my 2023 tax return. So there is another reason not to sell a call!
Have a nice weekend!

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