BP

hgreenblatt

I am just a little bit unclear. On /GC are you trying to put on a single option, or a spread. I think trying to use GLD, the most you could get would be 50% face BP. You will only know if you call and say FUTURES, and get someone on the trade desk. Look at it this way Sgov only gets 70% face. I have found that Selling a 20 delta Put /GC is around 30k BP, and yes they really do take BP (mine is Sgov).

hgreenblatt

Real Brokers for Options (IB, Schwab, Tasty), in a Margin Account let you use Buying Power (not Margin) to Sell Options once you are approved for Selling options. Key point you must be approved for selling options (Tasty approves everyone). Margin is for Buying Stocks when you run out of cash. I do not use IB, but Schwab (Tos) and Tasty both clearly show how much BP is required for Selling Options BEFORE as you create the trade. When you do a Csp a 200 strike Put requires 20k, but less than 4k-2k BP. That BP could be cash not earning interest or in Money Market at the current rate. Treasuries bet 98% face BP , Sgov stuff get 70% - 75% face. If that does not convince you that Csp's are a bad deal , then stop reading. Fidelity has some byzantine app for figuring out BP, but requires a 25k deduction from your cash before calculating BP , also it is not clear they can match a sold Put/Call combination (Strangle) if not sold as one trade. But they offer interest on your idle cash which is great. Not sure what BP is , here are some vids from a founder of Tasty and Tos. Buying Power [https://ontt.tv/3jAf4Ba](https://ontt.tv/3jAf4Ba) Buying Power Factors Oct 28, 2020 [https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020](https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020) [https://ontt.tv/2CLbOjn](https://ontt.tv/2CLbOjn) What Affects Buying Power? Nov 14, 2019 [https://ontt.tv/JeGVN](https://ontt.tv/JeGVN) Short Puts vs Covered Calls vs Poor Mans Covered Call Jul 9,2024

papakong88

Let’s do a quick and dirty back of the envelope scoping evaluation. Assuming your account is at Schwab.  You have 100K and assuming it has 70K in buying power (BP). (This assumes that the maintenance requirement for your stocks is 30%,) It is not good to use all of this BP so we will use only 50% or 35K. Now look at the BP requirement for AAPL The Feb 13 AAPL 235 put requires 2700 in BP. Do this for every stock in your list.

Cool_Ad_5101

[](https://www.google.com/search?client=safari&hs=qLp9&sca_esv=88967a97f71d192c&hl=en-ca&sxsrf=ANbL-n5gnUOtKEx046PTregu1kHahD6t6A:1768359768861&q=uplisting+cannabis+on+nasdaq+rules+legal&tbm=nws&source=lnms&fbs=ADc_l-ZexlP7EBCNvIngZQ0PrpGnde5EenWPl3ujHKe4IVU9DPvUHpXUr4FRBILrvrNAVeJ-5NdkCGJUHPA47UxUM_43lj0v-fOLW6Nzf0eMrTXHpHK2ZPnDcuE2xC34t6dBtZlLvfQHWBZjBNvoZkKogEgkizTA4oMilD0vGFtrBBqHUyyyWZyaB3K_4RRPsz6kEy8_GHRBAxqj3CAGdclY83BgN9qEhjTxvEhc_BP2c67d5m0Nxzg&sa=X&ved=2ahUKEwims-6-hYqSAxW3HzQIHchzC3IQ0pQJegQIFhAB)[](https://maps.google.com/maps?client=safari&hs=qLp9&sca_esv=88967a97f71d192c&hl=en-ca&output=search&q=uplisting+cannabis+on+nasdaq+rules+legal&source=lnms&fbs=ADc_l-ZexlP7EBCNvIngZQ0PrpGnde5EenWPl3ujHKe4IVU9DPvUHpXUr4FRBILrvrNAVeJ-5NdkCGJUHPA47UxUM_43lj0v-fOLW6Nzf0eMrTXHpHK2ZPnDcuE2xC34t6dBtZlLvfQHWBZjBNvoZkKogEgkizTA4oMilD0vGFtrBBqHUyyyWZyaB3K_4RRPsz6kEy8_GHRBAxqj3CAGdclY83BgN9qEhjTxvEhc_BP2c67d5m0Nxzg&entry=mc&ved=1t:200715&ictx=111) Uplisting a "plant-touching" U.S. cannabis company directly onto  [Nasdaq](https://www.nasdaq.com/) is **currently not permitted due to federal illegality**, but this is expected to change if cannabis is officially reclassified to Schedule III of the Controlled Substances Act. Only Canadian companies with no U.S. plant-touching operations have been able to list on Nasdaq thus far. 

ghostofanimus

protect ya BP...

Disastrous_Room_927

I did this for awhile - it was far more efficient in terms of BP usage.

fastlapp

Doesn't mean there is oil, or economically extractable oil. Even with modern seismic tech, the odds of a dry hole is 65-80% in frontier areas. Even the best majors in the world can't avoid it (see Shells' $7B dry hole in Chukchi, BP Austral'as Ironbark, years of drilling in Guyana before they finally hit, etc.).

Open-Yak-3708

Emergency rate needed spy down 45 points, 400 BP cut

TopStox

I’m a UK investor and my main two stocks that pay a good dividend are BP (5.76%) and Rio Tinto (4.74%). Others in the UK include Legal and General (8.05%), Land securities group (11.8%), Taylor Wimpey (8.58%), Phoenix group (7.38%), Aviva (5.41%) amongst others. If you search online for ‘S and P 500 dividend aristocrats’ you can see a list of companies that have increased their dividend payout over the last 25 years. Good luck - and remember to analyse other fundamentals as well as the dividend.

libranofjoy

They will make 15 billion revenue on the low end. They've already set aside money for lawsuits besides they've settled with sinopec and others. Shell is done can't revert arbitration decision. BP max 1billion but it will never be the full amount and besides these are also customers who continue to buy...they will make deals. The arbitration overhang will blow over and they are metr parking tickets to what VG is making in revenue. CP2 coming online next year with expansion of current capacity already approved. IMO you have thank the noise and shorts to bring the Price down. This will be $20+ by the end of the year. Worth the risk IMO.

hgreenblatt

At Schwab in a Cash account at Schwab not much. You can use a Schwab Money Market, instead of Cash as the "margin" , may only apply if held for 30 days. It cannot be used for securing something like a Short Vertical Spread, that is where you sell the closer to the money option. So pretty pathetic. Margin accounts are way better. Treasuries get 98% Buying Power, Sgov Bil, Tbil, types get 70% face BP. Trouble is most Reddit users are clueless about BP , so stay with Cash accounts even those these are the WORST for leverages. Is Fidelity better. In theory, but it is impossible for a smaller account to get approved for Options (under 100k) and usually they want way more margin . I think you have to take 25k off the top before they even calculate the "margin" for the trade. Here are some vids on what Buying Power is at REAL BROKERS ( not Fidelity or RH). Buying Power [https://ontt.tv/3jAf4Ba](https://ontt.tv/3jAf4Ba) Buying Power Factors Oct 28, 2020 [https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020](https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020) [https://ontt.tv/2CLbOjn](https://ontt.tv/2CLbOjn) What Affects Buying Power? Nov 14, 2019 [https://ontt.tv/JeGVN](https://ontt.tv/JeGVN) Short Puts vs Covered Calls vs Poor Mans Covered Call Jul 9,2024

hgreenblatt

Please SOMEONE educate me. I have never heard of maint margin on BUYING AN OPTION. Also when setting up this trade on Tos (Schwab) there is no BP required only the cost of the option. Am I not seeing something here is a Tos clip. [https://app.screencast.com/eMZYtaIzipqYd](https://app.screencast.com/eMZYtaIzipqYd) [https://app.screencast.com/HT2nOis6ObrRO](https://app.screencast.com/HT2nOis6ObrRO)

PeopleThatAnnoyYou

This may be unpopular but, I use 0.05 premium long for short verticals and then just manage the short actively. You get more premium and use the long to cap BP not risk. Active management caps your risk. Leave the longs open as lottos. Are you typically going to lose more than 0.05 on your later dated long?

CMDR_Shepard96

I'm SPY/MSFT/BP now. MSFT just slowly sapping my will to live

FarWay9137

Today has been a fantastic day to trade, even if these swings are just ~$1 difference. Shame I used up all my BP in the morning though

ChanceG34

Here's the more "infamous" one: https://www.bbc.com/news/live/c4g2k71vv7yt Summary: Gunman fired on facility and vehicle shortly after it arrived. Failed to hit agents (the intended targets) and instead shot and killed two detainees, then killed himself. Video footage from the interior and exterior of the incident are online if you look for Dallas ICE facility shooting. There were some more minor incidences, though still major due to being shootings and attempted assaults with vehicles, that occurred throughout Chicago against both ICE and BP. This stuff is already happening.

pmotiveforce

Judging by the bloated red face he shares with the jacked 65 year old bros I see in the gym, I'm guessing secret is testosterone injections and a 150/95 BP.

papakong88

Two puts will require 2 X the BP. The short side usually has a lower OTM if the deltas are equal. I would increase the OTM. The proceeds will decrease but the return would still be higher than 2 puts because 1 X BP is used.

hgreenblatt

Why? First off I never understand , that if your goal is to TRADE OPTIONS, why you would let assignment even happen. Second Naked Puts are better leverage, and since you have the 21k what is the difference anyhow. The only difference is that at Schwab a Naked Put at 210 is about 5.5k in Buying Power Reduction. Your risk is the SAME. Actually since I am approved for Naked Options at Schwab and Tasty, I see NOWAY to even do a CSP. They both default to using buying power , which unlike Fidelity they both clearly show as you create the trade. Maybe you need to switch to a Real Options Broker. Here is how BP works from Sosnoff founder of Tos and Tasty. Buying Power [https://ontt.tv/3jAf4Ba](https://ontt.tv/3jAf4Ba) Buying Power Factors Oct 28, 2020 [https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020](https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020) [https://ontt.tv/2CLbOjn](https://ontt.tv/2CLbOjn) What Affects Buying Power? Nov 14, 2019 [https://ontt.tv/JeGVN](https://ontt.tv/JeGVN) Short Puts vs Covered Calls vs Poor Mans Covered Call Jul 9,2024

Equivalent_Arrival79

WRONG Data and the TAM will dictate the offer as it always does when BP wants to add to their portfolio and mitigate huge patent cliffs!

papakong88

I am maintaining 2 reserved BP for every IC sold. To do a roll out, 1 reserved is needed.  After the roll, I would have available 1 reserved BP and 1 BP vacated by the rolled option.  The two BP can be used to sell IC or spreads to lower the cost of the roll. On any day, when I have determined that the reserved BP is not needed for risk management, I will sell junk with them. Junks are options that have a very low probability of becoming ITM. I can sell a junk put spread for 0.50 vs. 1.00 for a regular. The concept of reserved BP is not new. Many option traders allocate a percentage of their asset to trade, the remaining asset is the reserve and can be used in this manner. 

Beret888

Here's the reality. If you have a properly sized trade almost no trade has to take a loss. Jane Street having access to virtually unlimited size used that to bulky and overwhelm the market and mischaracterized it as hedging out risk. But the good thing is knowing this you can use this to your own advantage. You can sell an option and use your BP to ensure you make a profit... You just can't do it at the scale Jane Street does.... Its just math, your actual fight is just slippage in getting orders filled on your defense.

papakong88

Monday, Jan 5, 2026 NDX opening price is 25472 up 266. The Jan 5 25150 put is 322 OTM up from the previous day’s 56. 8:43 CT, NDX = 25421, Sold Jan 5 25750 CS for 0.30. No BP is needed, BP for the 25150 PS is used. 9:09 CT, sold another Jan 5 25750 CS for 0.30. Used 1 reserved BP.  9:35 CT, NDX = 25500, sold Jan 5 25070 PS for 1.00. No BP is needed. PS is 430 OTM, X > 3. 9:54 CT, NDX = 25483, sold junk Jan 5 25830/25730/24930/24830 IC for 0.68 using the remaining reserved BP. At the close, NDX = 25401 +195, all Jan 5 options expired OTM. Total income = 2.28.

selesnyaTroll

Yeah, perhaps. I honestly don't follow $HAL or $SLB anywhere near enough to say on those (see it's ok to admit when you don't understand something enough to make a play on it). I was more laughing at everyone on twitter and the like saying oil futures would gap down hard and Canadian oil companies were doomed. Or that CVX, XOM, BP etc would immediately gain bigly from this. Like 1, the VZ situation is far from settled. 2nd, it would take a shit ton of money and years to start pulling up VZ oil in a meaningful way. 3rd, these companies haven't earmarked any of their money for said venture yet. So when I saw Canadian names like CVE and SU get shit on in early market, I bought and sold in the afternoon for a quick easy day trade lmao. Long term remains murky as VZ is unresolved, Russia/Ukraine is unresolved, and there continues to be musings of going after Iran again.

1973Hog

AFAIK CVX was able to export oil to the US from Venezuela despite sanctions. My concern would be uncertainty over possible backlash against them. I am Long some BP that I inherited from my mother and some AMLP.

Acrobatic-Judge-1190

ZETA calls, BP puts

drew-gen-x

Yeah, if you are not buying multiple names just buying $XLE might be the better buy for most. $BP has outperformed over the last 52 wks so today's dip doesn't really tell the story there.

okiewxchaser

It’s a mixed bag though, other producers like EXE, BP, DVN, and SHEL are down around 5% today Even XOM is barely up despite the news being incredibly positive for them

hgreenblatt

You get 100% Buying Power on cash , but only 70-75% BP on Sgov (Bil, Tbil, etc) depending on broker. Those are the rates at Schwab, Tasty, IB for sure, and you get it with no 30 day wait.

Solid_Explanation504

BP only made 15Bn out of Irak, why wouldn't it be good. I mean if you need to jack up the price, a little Iran operation Samussa and that's it.

manofmanyquestions1

**ExxonMobil** **Shell** **Schlumberger** **Chevron** **Halliburton** BP conocophillips **Palantir** PBF Energy valero Diamondback Energy Occidental Petroleum Corp Transocean Riley Exploration Permian Northern Oil and Gas **Tenaris** Cheniere Energy

manofmanyquestions1

**ExxonMobil** **Shell** **Schlumberger** **Chevron** **Halliburton** BP conocophillips **Palantir** PBF Energy valero Diamondback Energy Occidental Petroleum Corp Transocean Riley Exploration Permian Northern Oil and Gas **Tenaris** Cheniere Energy

manofmanyquestions1

**ExxonMobil** **Shell** **Schlumberger** **Chevron** **Halliburton** BP conocophillips **Palantir** PBF Energy valero Diamondback Energy Occidental Petroleum Corp Transocean Riley Exploration Permian Northern Oil and Gas **Tenaris** Cheniere Energy

manofmanyquestions1

**ExxonMobil** **Shell** **Schlumberger** **Chevron** **Halliburton** BP conocophillips **Palantir** PBF Energy valero Diamondback Energy Occidental Petroleum Corp Transocean Riley Exploration Permian Northern Oil and Gas **Tenaris** Cheniere Energy

AssociationTotal1018

What about those diagonal spreads? Do you always do variations PMCC? Or you may sell a front month with lower strike and tie up some BP but get a lower cost? If so, what parameters do you use to consider doing so to tie up some BP for a long while? I assume your diagonal spread are also LEAPs.

Mouse1701

The play is BP, Exon Mobile and Chevron. You didn't have to explain with a full length paragraphs.

Normal-Meringue7592

Fuck off with this bullshit. The Iraq war was horrible and should have never happened. But that doesn’t mean that we went in to “steal” their oil. After the 2003 invasion, Iraq’s oil remained state-owned, just as it had been before. Ownership stayed with the Iraqi state through what is now the Iraq National Oil Company and the Ministry of Oil. The US never took legal ownership of Iraqi oil reserves, never controlled them as property, and never exported oil without Iraqi state approval. What did happen was that Iraq, after years of war and sanctions, lacked the capital and technical capacity to rebuild its oil sector. Starting in 2009, the Iraqi government held open international licensing rounds. These were competitive contracts awarded to global oil companies — including BP, Shell, ExxonMobil, TotalEnergies, and Chinese firms like CNPC. Crucially, these were service contracts, not ownership deals. Iraq paid companies a fixed fee per barrel (often only $1–$2) to increase production. The oil itself was sold by the Iraqi state, revenues went to the Iraqi treasury, and companies were paid for their work — not given the oil. The results are measurable. Iraq’s oil production rose from roughly 2 million barrels per day in 2003 to over 4.5 million barrels per day in the following decade. Iraqi government oil revenues totaled hundreds of billions of dollars, funding salaries, infrastructure, and the state budget. If oil had been “stolen,” Iraq would not have become one of OPEC’s largest producers with full control over its exports. The idea that the US invaded Iraq “for the oil” persists because it’s emotionally intuitive and politically useful — but it doesn’t match outcomes. The US did not nationalize Iraqi oil, did not receive free barrels, and did not monopolize contracts. In fact, non-US companies ended up controlling many of the largest fields, while the Iraqi state retained ownership and pricing power. So Iraq shows the same pattern you see everywhere else: state ownership + foreign operators + service contracts. That model can be criticized on many grounds — war, instability, corruption, geopolitics — but “stealing the oil” isn’t what actually happened. Fuck off dude

Oregon-izer

nah oil prices are already too low to sustain American Production. this is about cutting off supply for China and friends. on the other hand BP Shell and Exxon are going to get their gas projects back that Maduro seized. Don’t fuck with big oil they always get their gas projects last laugh

UltraBonerFartLord

You said this > Private oil companies do not set prices. They can literally set whatever prices they want. Whether or not they fail because they extend their margin too much is their own fault. The OPEC countries are simply a baseline and BP/Shell/Chevron etc. are free to set their prices exactly how they want. This is such an obvious statement that I can't believe I even have to spell it out for you. It's like saying that wheat farmers set the prices of bread in stores. Come the fuck on man.

NonimiJewelry

All my favorite stocks, chevron, BP, NFE, Exxon

Any_Put3520

Your first sentence was correct, everything after it (only read the next stupid contradictory claim) is wrong. The US today can cancel any and all contracts it has with BP - this doesn’t mean the UK can come and occupy us.

WasteCelebration3069

Of course the oil companies. I’m sure Shell, BP, and Exxon are jizzing their pants now.

bananajr6000

Halliburton, BP, maybe more

hgreenblatt

Well , I guess you are stuck! I mean they are the only broker that has such a lame platform, not sure you can find one worse anywhere among U. S. brokers. I think of Fidelity as the guys in suits with white shirts. Schwab at least allows blue shirts now. Tasty has T-shirts. You could try Schwab which bought Tos , even thou it is 20 years old still pretty good, not sure anyone beats the analyze page . The follow on Tasty platform (same founders) is a lighter Tos, much easier to create trades, but now that Sosnoff is out , not clear if it will survive . Both are looking for PM starting at 150k. I am not sure PM would buy you much. Both these platforms show the BPR needed as you create the trade , which I am sure Fidelity is still fumbling with. Actually Tos only show that on the Analyze tab, not the Trade tab. I never use the Trade tab. Schwab has slightly better BPR than Tasty. IB might be the best , but I pass on their platform. As I recall BP is a big mess at Fidelity , also they require a minimum 25k balance before you even start adding in BPR. I think Fidelity are the guys that cannot even figure out that if you have a Put and then add a Call (both OTM short naked) that they only need the higher BPR. Everyone else figures that out in real time.

Kestrel19

Big oil is big but not sure XOM & CVX are the poster kids for unethical. The Macondo well was BP.. Venezuela is Citgo. Enbridge for leaky pipelines. Petrobraz too. What about coal on the basis of pollution; ARM & BTU?

Numisko

Yes BP is better(worse) pick here. They caused one of the most damaging oil spills in history

LetMePushTheButton

This is what I like to call my “buy Evil” strategy. Add some REITs and PLTR - maybe TSLA if you’re feeling edgy. WMT and META too maybe. johnson and johnsons, dupont, saudi aramco, BP for sure make the list. Many of these companies have so much public subsidies or some kind of support built into them - like they’re not allowed to fail or some BS.

IDrinkSulfuricAcid

Is being a gas company enough justification? Throw in some SHEL, BP & OXY. Everyone loves themselves some OXY. Also add PLTR.

hgreenblatt

You sound LOST. Only in an IRA (Cash ) account do you need 50k for one short Put on Telsa. In a Margin Account APPROVED FOR SELLING OPTIONS, you need 20% of the OTM strike , a lot less on lower vol stocks. So a 20delta Put on Telsa is 9k-10k , but only 7k for say Msft. My answer is always the same, get a Margin Account (Schwab , Tasty, IB platform not for me) , you are pissing away your leverage in a Cash Account. If you have the money (25k but 60k better) to trade options (90% of those responding only have 10k or less). You must get approved for Selling Options, this can be hard at many brokers. Tasty is the only one that gives it to everyone. If you Sell a Put without being approved, then it is a CSP, and none of this applies. You can Sell Puts , Calls or Both on Amzn, Appl,Googl, Bidu, Nvda, for 2k-4k Buying Power. If you get Assigned take the loss close out the stock and move on, or ROLL Forward in Time for a CREDIT. Also you can BUY SGOV , get 70% Buying Power on that and interest every month. If you can afford to tie up part of that SGOV cash for 3 months at a time you can get over 90% Face with Treasuries. Selling Treasuries before maturity could cost you a "haircut" , Sgov does not suffer from that. Key:: Always keep 100% of the BP as backup for a Down Move, so if the BP is 10k, keep another 10k as backup. Follow Tasty mechanics , Sell at 45dte, close or roll by 21dte, have a profit target in 50% area. Do not Sell 40 Delta Puts... I rarely do over 20delta, 30delta is ok but you will get tested often. How can this be , everybody on Reddit is wheeling! Try these Tasty vids to see what most Reddit users do not know or worse understand. [https://ontt.tv/3jAf4Ba](https://ontt.tv/3jAf4Ba) Buying Power Factors Oct 28, 2020 [https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020](https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020) [https://ontt.tv/2CLbOjn](https://ontt.tv/2CLbOjn) What Affects Buying Power? Nov 14, 2019 [https://ontt.tv/JeGVN](https://ontt.tv/JeGVN) Short Puts vs Covered Calls vs Poor Mans Covered Call Jul 9,2024

Putrid-City-8951

You beat me to it. Treating maintenance with an increasingly toxic regime is just buying time until toxicity is too great and patient either relapses or has to discontinue due to toxicity. Then what? Give then the same thing as salvage? Uh oh. GPS being a completely different regime to prior treatment lines and not at all toxic gives far better hope for ongoing remission and also post relapse salvage... which soon will be handled by sls009, Sellas' other NON toxic late stage treatment. I would be very worried if I was a BP owning any current therapies in AML space and some lateral indications for that matter.

Mickey302

I’ve been following and invested in Sellas for close to a year now. I believe that peptides are the future of medicine. When you give your body the proper signals it has the ability to heal itself. With that being said, I think everyone who is interested in Sellas needs to understand that the GPS peptide isn’t just an AML treatment, it’s a cure for many patients with the disease. Do you want to be on the sidelines when you see the news headlines that say “Breakthrough Cancer Peptide Vaccine Could Be Cure For AML”? This will be a $10-25 billion buyout. The only thing we don’t know yet is how BP’s will value the enormous potential of SLS009 and that could push this to an insane return.

ScoffersGonnaScoff

Older article about probabilities and market cap https://www.thestreet.com/investing/stocks/the-feuerstein-ratain-rule-update-still-perfect-predicting-small-cap-cancer-drug-failure-12696926 If they don’t get acquired by BP, one of their best possible trials hasn’t started. IMO a post bone marrow transplant treatment could substantially change AML outcomes (on top of the already established trial results listed). All of it looks pretty promising

Putrid-City-8951

Great info. In with high six figure position for almost 2 years. Adding ITM '26 and '27 calls in the morning. With sls009 lining up for Accelerated Approval based on initial response data in Q1 and Regal rewriting the treatment landscape with tox free maintenance therapy, this is a BP wet dream or nightmare depending on whether their bid to acquire is successful or not. Meantime, the market mechanics have been building this squeeze since the spring and the negative free float is about to blow up. After the last several days I think shorts are in the realm of 65m shares now.

rydesrow

Excellent write up! Been in this stock since mid year. 31k shares deep. Sell button is broken holding, until BP buys this thing. Easiest buy and hold I've ever had!

Typical-Big-5476

My current allocation going into 2026 is: Cash: 62.5% ETF Equities: 29% Bonds: 1% Commodities: 1% Sandbox of individual stocks: 5.5% Crypto: 1% Individual stocks are: (exc. amounts held in the index) Visa - 0.8% Novo Nordisk - 0.6% Gartner - 0.6% Amazon - 0.5% Aker BP - 0.5% 3i Group - 0.5% Realty Income - 0.5% Rio Tinto - 0.5% Nomad Foods - 0.5% Petrobras - 0.5%

714trader

There’s few ways to play your thesis. Assuming you have decent BP you can buy in the money calls maybe 400. And exit at 460. Or buy the 455 and sell the 460 spread. Make $5 minus your cost. $5 move in tesla is nothing so these would be 7 day or less DTE

ReThinkingForMyself

True, and my statement is a bit weaseley to account for that. All of the broker PM definitions I have read refer to SPAN, describe an additional variable or two, and don't publish a PM formula that can be followed. I sell SPX, RUT, NDX option spreads and the BP difference between those and, say, TSLA options is obvious.

ReThinkingForMyself

Look up SPAN margin, which describes some of the methodology for calculating Portfolio Margin. As far as I can tell, SPAN margin calculations are proprietary and vary a bit from broker to broker. With PM, buying power and maintenance balances are calculated based on daily risk to your whole portfolio, not position by position as with RegT margin. SPAN calculates more realistic and less conservative buying power limits, and is less restrictive on low volatility indices like SPX, SPY, etc. I'm fortunate in that I've not really tested this, but I believe that PM will provide an edge in a volatility event like a market crash -- a PM account gives you more cushion against BP restrictions and thus more freedom to maneuver when you might need it the most.

Numerous_Heart_7837

Yes. Check out the natural hydrogen stocks subreddit You will find info on all the publicly traded ones there. BP has invested in snowfox discovery. Which is a natural hydrogen explorer 👍🏻

Total_Comfort9208

My logic wasn't actually based on BP or margin efficiency, but rather on the breakeven point. My thinking was that with a LEAPS Call, the stock has to move up significantly just to cover the premium. By using a synthetic, I'm 'hedging' against a scenario where the stock moves up but stays below the LEAPS breakeven. This way, I capture the delta on the call without the drag of the premium, while benefiting from the put decay. But, obviously it amplifies my potential losses which is why I've tried sticking to stocks I have a lot of conviction in!

TheInkDon1

Yeah, let us/me know how it goes. I have to sort of question though why you still prefer the synthetic. When you buy a **LEAPS Call, do you get any kind of margin 'help'?** Or is BP straight-up the cost of the Call? (I suspect you have portfolio margin, so I'm wondering if that helps.) Because If the LEAPS Call benefits from margin, then the denominator of its ROC calc must be much smaller than for the synthetic. Which would make it win on return, as well as Max Loss risk. Thanks.

heidieliisa

Yes, it’s basically just selling puts, but with a "time buffer." Because the expiration is so far out, the premium is huge (easily $5k–$7k depending on the strike). It does lock up some buying power for a long time, though, and the BP requirement can increase if market volatility spikes. The biggest benefit for me is the risk profile; it’s pretty easy to roll these out and down for a credit until the market recovers if the worst happens. I also plan to buy them back at 50% profit, and I only keep a small portion (<5%) of my portfolio in these to stay safe(r).

GeneralSavings9373

19 year old college student mostly surviving off dividends. EPD - 25% EGO - 19% BP - 17% RF - 15% EWZ - 14% SOFI - 10%

Few_Speaker_9537

Following the same thesis, what are your thoughts on BP?

hgreenblatt

Instead of using CSP you are talking about Buying Power in a Margin Account where you are approved for Selling Options. I will post some vids about this by Sosnoff. This allows you to use 20% (usually less) of the strike as 'margin" , but it is called Buying Power Reduction BPR. The rule is to keep an equal amount as backup in case of a Sell off, so if you use 10k for a 20delta Spy Put , keep a spare 10k BP as backup. How can you protect against a black swan.... DO NOT TRADE AND BE IN CASH AT ALL TIMES. Not your plan then just follow the rules and keep 100% BP as backup. What gives you BP , Cash 100% face, Treasuies 90%+ face, Sgov ,Bil,Tbil etc 70%-75% face. Stocks are 50% face and a bad idea since their value DROPS during market selloffs. Only use firms that clearly show the BP needed BEFORE YOU SUBMIT THE TRADE. If they tell you , you have to use a "special" function to see BP , run somewhere else. Buying Power [https://ontt.tv/3jAf4Ba](https://ontt.tv/3jAf4Ba) Buying Power Factors Oct 28, 2020 [https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020](https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020) [https://ontt.tv/2CLbOjn](https://ontt.tv/2CLbOjn) What Affects Buying Power? Nov 14, 2019 [https://ontt.tv/JeGVN](https://ontt.tv/JeGVN) Short Puts vs Covered Calls vs Poor Mans Covered Call Jul 9,2024

Dritzz-9966

Cost will be lower for sure, bc production as you said is generally less expensive. They're autoinjectors (if you're not familiar, like epipen), not vials & syringes, so even health illiterate people would have no issue there. They're also less "scary" obviously, so I don't believe many people may be scared of those. But as you said, there may be a very small subset of pts who'd be unable to do subq. Anyways, it's imo a subset so small it's not really significant. I agree, LLY is a clear winner long term. Tirzepatide is growing at a crazy pace. Orforglipron not as good as I expected a few yrs ago but will still sell more than oral sema until oral VK2735 releases in a few years (either GIA but most likely partnered or bought out by a BP). Retatrutide also not as good as I expected, great efficacy but lots of AEs. Still, LLY still has lots of room to grow and is a buy.

MasterSexyBunnyLord

> He could sell the calls first Long calls cut the margin requirements of the short position. > Contrary to what your other comment seems to imply, long calls don't provide collateral for short shares. I am not talking about collateral buy buying power. What makes it possible to hold the short shares is the BP reduction from the calls. That's it. Otherwise he would most likely be in a margin call.

Michigan-Magic

Rice Acquisition Corp #1 (Archea) worked out well for investors by being acquired by BP for $26 a share. No idea what would have happened if it hadn't been bought out, but that's a win. [https://robinhood.com/us/en/stocks/LFG/](https://robinhood.com/us/en/stocks/LFG/) The second Rice spac was much less successful ([https://robinhood.com/us/en/stocks/npwr/](https://robinhood.com/us/en/stocks/npwr/)). If you bought 100 shares of each, still up on a net basis by roughly 40% (gross). AVPT has done alright. It went public via a spac in 2020 and is trading at $13.94 today. Earlier this year it had a run up all the way to $20, while it traded all the way down to under $4 in 2022.

Sure_Leadership_6003

After-hours risk, BP, rolling out for the next trades, policy? Not sure, just few of the reasons why we close our options before the market close, right? right guys? Or am I the only one that does that?

hgreenblatt

I hear you but your position has not changed except you have lost most of your BP. Try to review these Tasty vids , also 2 Scotches should help. Clear this up BEFORE your LONG Expires. [https://ontt.tv/3SOcA](https://ontt.tv/3SOcA) Unwinding an Assignment May 20, 2021 [https://ontt.tv/2kNqA09](https://ontt.tv/2kNqA09) Got Assigned? No Problem! May 16, 2019 [https://ontt.tv/43flu](https://ontt.tv/43flu) What Happens When an ITM Vertical Spread is Assigned? Jan 25,2022 [https://ontt.tv/lRGPu](https://ontt.tv/lRGPu) Finding Your PL After Assignment Aug 17, 2023 [https://ontt.tv/2QCXvDU](https://ontt.tv/2QCXvDU) 5/30/19: Portfolio Analysis - Assigned on BIDU!

Cav829

Basically infinite money glitch that started with borrowing money for practically free. As our rates go down and the Yen goes up, it stops being free and investors who were over leveraged have to sell the assets they bought and pay for them. Approximately $1-$2 trillion of the market is believed to be money borrowed on yen. So a lot of the reshuffling of the last week has been the expected 20%ish of money getting pulled out in advance of a 25 BP hike. But if it's more than 25 or if guidance suggests another rate hike is coming, even more money could get pulled out resulting in the proverbial "shock to the system." BitCoin will likely get hit harder than Equities. That is the quickest summary I can give you.

Good_Application6245

its so lame how they wont front unsettled funds you really just need atleast 5k in BP for these money accounts

Flaky_Rock_2785

This is the most excited i've ever been in this investment! It's been a long 4 years. We are in the very best position ever in our junior explorers history!!! Getting in now is like getting into Exxon Mobile or Conoco or BP, ect. ect, at their origins...

justfactssss

Ironic. But you’re spectacular wrong! IT’S ACTUALLY THE EXACT OPPOSITE. Barrons, Oligarchs and imperialists like Elon, because of greed, and the everlasting search for more and more resources go and steal the wealth of other poorer nations, they siphon all their resources, and hoard their resources which turns the natives people into economic migrants. THEN ELON AND CO, come back home and tell you to hate them for trying to flee the mess Elon and co left in their home countries. Good example:: WE ARE LITERALLY DOING IT RIGHT NOW IN VENEZUELA. we go in there take all their oil, BP AND EXxon rob them; they inturn become even more economically vulnerable and they will in a few months and years be trying to come over the boarder. It’s fine that you don’t know any better. Your govt has spent more money than God has to make sure you know nothing about it, so that you’re less likely to ever want to change it. Cheers

obb223

Weirdly oil stocks are still pretty high so maybe short BP, they are the sh!ttest super major

thefarmerjethro

Ive never seen a BP location close. Obvious bias, as I didn't do any DD, but my own experience. They all are busy in rural areas on thurs/fri/Sat.

NightOfTheLivingHam

Toyota got it right because the US just killed its EV market. Absolutely destroyed it. I would not be shocked if we get news in the next few weeks that Tesla is selling off its superchargers to Shell or BP as it wants to focus more on AI. EVs will just be another curiosity here while other countries will continue marching forward until the Oil lobby kills EV adoption elsewhere as well. I would not be shocked if in 10 years the world will be split between EV dependent nations and oil dependent nations.

Jericho3434

What are you looking at? I have a lot of BP and looking for plays. Thanks

LarryStink

In my experience sitting sidelined has yielded the best results during these periods. Its a coin flip on either side and often times the market just chops in a range until a narrative is found to push the prices out of the range. Until I know when, and why prices are leaving the range, I wait patiently. Leaving a few BP on the table for significantly improving probabilities has paid dividends for me. 

papakong88

This is how to determine how much BP to use if you have Reg T margin. The procedure should be the same for Portfolio margin. You sold naked puts that required a maintenance margin. The minimum maintenance margin requirement is prescribed by the exchange. Your broker may require more. It is calculated by using two formulas and using the higher value. Schwab uses the following formulas for naked puts. MR=100% of option value + 20% of underlying value - OTM amount, or MR =100% of option value + 10% of option exercise price. Leveraged ETFs have higher MR. So you calculate the MRs with your broker’s formulas for your doomsday scenario.  In a doomsday scenario, your MR increases while your collateral decreases in value. So you must have BP on reserve. I sell OTM naked puts. My doomsday is the puts becoming ITM. My analysis shows that I can use up to 60% of my BP to initiate trades. Therefore, figure out how much reserve you need for your doomsday. Nothing else matters.

fomoandyoloandnogrow

Stephen Miran is such a tool. Every meeting: “50BP CUT PLEASE”

Leading_World_3813

You’re absolutely right on the options mechanics. I totally mangled the wording (someone else already called me out for the confusion of this response). What I was comparing was buying cheap OTM calls hoping for the big gap-up runner vs selling puts on the same higher-probability side of the pattern. When I buy those OTM calls the winners can go 5-20× when the gap hits perfectly, but 32-35% of the time nothing happens or it reverses and the call just dies to zero. A couple of those full-premium losses can easily wipe out a bunch of smaller winners and that’s just classic long-option math. When I sell the puts instead, the wins are capped at the credit I took in (I usually keep 80-100% most days), but I managed losses same-day (I’m out at 2-3× credit max, no unlimited nightmare). Capital efficiency on far-OTM 0DTE is nuts (especially naked ones where the BP hit is tiny), though I sell mostly defined-risk puts. The “one bad day wipes many winners” thing is real for the long-gamma side in this short-term setup because of the high failure rate and full premium wipeouts. For disciplined short-put selling it’s the opposite… lots of small wins, rare and contained losses. Anyway, sorry for the sloppy phrasing. Appreciate you calling it out. Keeps me honest 😂

Cardiologist_Actual

Why did I buy $BP calls for eom. Fuck me

TheInkDon1

No problem at all, these are all great questions, and they're hard to figure out on your own. So I think with most brokers you *don't* need a margin account. At least at Schwab I've had it happen to me in IRAs (which can't have leverage). And yes, the broker WILL borrow shares and sell them 'for' you. Same as if you one day said, "I'm gonna short 100 shares of XYZ." (Although I'm not sure you can *do* that in an IRA. So you sold 100 shares that you didn't have, and now you're short the shares. **But you also got paid for them.** And this part is weird because the cash doesn't show up as Buying Power, but it's there. It's just cancelled/balanced out by the short shares. So if you were short 100 shares at $10, there's $1,000 somewhere in your account. So to get un-short, you simply buy 100 shares. And I know it won't look like you can, because you may not have the BP, but you can. Just put in the order and it'll go through. Actually, click on the -100 shares or whatever you have to do, and choose "Close Position" or whatever it is on your platform. The order will go through and you'll no longer be short the shares, and the money you 'had' from their sale is now gone. If the stock stayed right at $10, you'd be flat on the trade: $1,000 worth of shares sold, $1,000 to buy them back. It's when the stock is higher that's the problem, which is usually the case, of course, because that's how you got assigned: the stock moved up through your CC's strike. So if the stock is now at 10.50, that's what you have to pay to buy 100 of them, the market rate. And that's where you lose a little bit: you sold the shares for 10, but have to buy them back at 10.50. But don't forget that you got some Premium when you sold the Call, so that helps offset some of that. And a question you didn't quite ask: a 'good' broker won't sell your LEAPS Call (or shares) to cover the assignment. So you still have the long Call, and if you have the extra $50 in your account to buy the shares back (adding to the 1k you got paid), then just do that. **Never EXERCISE a long Call to acquire shares for an assignment.** If you do you lose all the extrinsic value in it, it just goes away. And to your margin call question: they should give you a day or two to settle up. And they should send you an email, as well as a notification when you open the program/website/app. I've even had them call me the next day. So don't worry about assignments. But it's also good practice to not let them happen. I hope that helps, and others with different experiences can chime in. Take care.

Leading_World_3813

You’re 100% right! A sold option can never make more than 100% of the credit received. When I (and other 0DTE traders) say "200-400% on the runners," we're being sloppy with our terms. We actually mean Return on Buying Power (BP), not return on the premium itself. For far-OTM 0DTE contracts, the broker-required margin (BP) is tiny. Example: Sell a $3.80 put. Credit Received: $380 (100% max profit on premium). Buying Power Used: ~$900 to ~$1,200. Actual Return on Capital at Risk: 380/900 approx 42%, to 380/1,200 approx 31% (These are for runners that only require minimal capital to realize a full return). This sloppy math usually triggers folks who trade longer-dated options where BP is closer to the full notional value. My bad for not being crystal clear earlier. Thanks for calling out the math!

No_Economist3815

Have a feeling AVGO is going to pull an ORCL. Maybe not as sharp a pullback, but it’s going down. Wish I had some BP

Adventurous-Goal478

Honestly I have no idea. I don't think even Exxon or BP will touch the pirated oil we stole yesterday, so, that's not a good play. Maybe the old faithful defense stocks like BA, LMT, RTX?

shearhea74

Not just Tech.. All Big OIl like BP and Exxon sent jobs there from Marketing, real estate and development, Engineering, Tech, Finance, etc... Huge US & UK layoffs to sent to India. After US is their No. 1 market share profits

kweniston

One small cut of 300 BP.

Leading_World_3813

I’m trying to win without ever having a single day wreck my account instead of going for on one lucky gap-up. Here’s the real math over the last year on these exact red-day + green-overnight setups: Selling 8-12 delta puts: \~68% win rate, average +85% on the credit in a few hours (sometimes 200–400% on the big runners).  Buying cheap OTM calls instead: yeah the winners go 5-10-20x… but the losers go to absolute zero 32% of the time. One bad day and you give back 3-6 good ones. I’ve done both. Buying calls is fun when you're right, but selling the puts is boring and prints almost every single time the pattern works (which is most days). I’d rather make 50-150% on my risk 15 times in a row than swing for 1,000% and get smoked twice. Plus: Theta is my friend when I sell (it’s the enemy when I buy 0DTE), no stress about timing the exact bottom, I can close or roll in minutes if it goes against me, Margin/BP usage is way lower. I treat it like an ATM, not a lottery ticket. Buying calls would’ve paid for maybe half… and a few therapy sessions.

TJMBeav

Zero chance of no cut. How many dissents? I guess 3. One wanting a 50 BP cut, the other two do not want any cuts. More than this might get a market reaction

kaapooj

carvana is more valuable than BP $95.98b vs. $93.21b

hgreenblatt

You (and about half the commenters ) sound confused. You sound like you have been approved for Option Selling at your broker. If not you would have to do a CSP. You are not using Margin, you are using Buying Power. If your BP is earning interest in something like Sgov, then you can get 75% face BP on that (maybe less). Margin is for selling stock. Nothing wrong with this but in a down turn you have to have an equal amount of BP available so you do not get closed out. So if the BP was 8k , you need another 8k as backup.

KingHenry13th

What?  Just buy anything in the next bear market. Why meme stocks? Early 2000s tech crash.  Buy tech 2008 bank crash, buy banks BP oil disaster buy BP Covid stay home crash, buy hotels, casinos and cruise lines. The hard part is having the balls and the money to follow thru without worries. 

hgreenblatt

If you want to Buy and Hold then CC work fine. But most of you 100k will be tied up in stocks. If they go up you are a genius , if not ... Csp are the worst. You have to put up the entire price of the stock, some brokers let you earn interest, some do not. My answer is always the same, get a Margin Account (Schwab , Tasty, IB platform not for me) , you are pissing away your leverage in a Cash Account. If you have the money (25k but 60k better) to trade options (90% of those responding only have 10k or less). You must get approved for Selling Options, this can be hard at many brokers. Tasty is the only one that gives it to everyone. If you Sell a Put without being approved, then it is a CSP, and none of this applies. You can Sell Puts , Calls or Both on Amzn, Appl,Googl, Bidu, Nvda, for 2k-4k Buying Power. If you get Assigned take the loss close out the stock and move on, or ROLL Forward in Time for a CREDIT. Also you can BUY SGOV , get 70% Buying Power on that and interest every month. If you can afford to tie up part of that SGOV cash for 3 months at a time you can get over 99% Face with Treasuries. Selling Treasuries before maturity could cost you a "haircut" , Sgov does not suffer from that. Key:: Always keep 100% of the BP as backup for a Down Move, so if the BP is 10k, keep another 10k as backup. Follow Tasty mechanics , Sell at 45dte, close or roll by 21dte, have a profit target in 50% area. Do not Sell 40 Delta Puts... I rarely do over 20delta, 30delta is ok but you will get tested often. How can this be , everybody on Reddit is wheeling! Try these Tasty vids to see what most Reddit users do not know or worse understand. [https://ontt.tv/3jAf4Ba](https://ontt.tv/3jAf4Ba) Buying Power Factors Oct 28, 2020 [https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020](https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020) [https://ontt.tv/2CLbOjn](https://ontt.tv/2CLbOjn) What Affects Buying Power? Nov 14, 2019 [https://ontt.tv/JeGVN](https://ontt.tv/JeGVN) Short Puts vs Covered Calls vs Poor Mans Covered Call Jul 9,2024

hgreenblatt

You are confused. If you are not approved for Selling Options (you do not say). then even though the account is margin selling a Naked Put must be a CSP. If you are approved for Selling Options, then I am pretty sure it will use buying power (about 8k-10k for a 25 delta), but I have heard Fidelity has a way for you to force it to be a Csp. Anyhow you a throwing away your leverage , and interest. Selling using Buying Power is what you should be doing. The t-bills and Sgov pay interest and can be turned into cash pretty much as soon as sold (Schwab, IB, Tasty). t-bills get 98% face BP, Sgov 70% Bp (sometime 75%). There is no risk. Here was my standard reply. My answer is always the same, get a Margin Account (Schwab , Tasty, IB platform not for me) , you are pissing away your leverage in a Cash Account. If you have the money (25k but 60k better) to trade options (90% of those responding only have 10k or less). You must get approved for Selling Options, this can be hard at many brokers. Tasty is the only one that gives it to everyone. If you Sell a Put without being approved, then it is a CSP, and none of this applies. You can Sell Puts , Calls or Both on Amzn, Appl,Googl, Bidu, Nvda, for 2k-4k Buying Power. If you get Assigned take the loss close out the stock and move on, or ROLL Forward in Time for a CREDIT. Also you can BUY SGOV , get 70% Buying Power on that and interest every month. If you can afford to tie up part of that SGOV cash for 3 months at a time you can get over 98% Face with Treasuries. Selling Treasuries before maturity could cost you a "haircut" , Sgov does not suffer from that. Key:: Always keep 100% of the BP as backup for a Down Move, so if the BP is 10k, keep another 10k as backup. Follow Tasty mechanics , Sell at 45dte, close or roll by 21dte, have a profit target in 50% area. Do not Sell 40 Delta Puts... I rarely do over 20delta, 30delta is ok but you will get tested often. How can this be , everybody on Reddit is wheeling! Try these Tasty vids to see what most Reddit users do not know or worse understand. [https://ontt.tv/3jAf4Ba](https://ontt.tv/3jAf4Ba) Buying Power Factors Oct 28, 2020 [https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020](https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020) [https://ontt.tv/2CLbOjn](https://ontt.tv/2CLbOjn) What Affects Buying Power? Nov 14, 2019 [https://ontt.tv/JeGVN](https://ontt.tv/JeGVN) Short Puts vs Covered Calls vs Poor Mans Covered Call Jul 9,2024

trustfundkidotaku

But the account registered me using margin though ? Since my funds available for trading only decreased by the BP effect ?

jubilantBeatbox

Whether its implemented or not -- DT is calling for up to 2-3 BP cuts on the fed rate.... and saying he's going to put the person in to do it, by name.

papakong88

If you are selling naked puts, you will use the buying power of your securities as collateral. In terms of buying power, SGOV do not have as much buying power as T-bills or money market funds. SGOV’s BP is 70% of its value while T-bills have 97% and money market funds have 100%. I do not use SGOV. In terms of safety and yield, all three are about the same.

Cautious-Lecture-858

How the hell does Venezuela “disrupts the region”? That country is nothing. This whole Guyana dispute is nothing. Venezuela doesn’t have the resources much les military to enforce anything. It’s a poor decrepit country with ZERO influence in the region. But it has the largest untapped oil reserves on earth. But I’m sure the main reason for every war started by a Republican admin in the last 40 years has nothing to do with that fact. Also the US didn’t get oil concessions from Kuwait?! The Kuwait Oil Company is owned by Chevron. Kuwait oil IS OWNED by the US (and UK’s BP). Jesus Christ. Shut the fuck up.