BTO
John Hancock Financial Opportunities Fund
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Profit on put vertical spreads and closing them
use multi leg option to "transfer" funds from traditional to tax advantaged?
B2Gold acquires AngloGold Ashanti's 50% stake in Gramalote for up to $60M
VIX Ratio Call Diagonal | +$7,400 / 33% Return in 15 days
Hot poor guy summer, put my life savings in $ASO
Trade Idea: /MES Long Vertical - Simple but Complex
Lowest commission broker for index options (VIX/SPX/NDX/etc...) ?
Investment needs to triple to US$4.55 trillion every year until 2030 to meet global net-zero targets
So Your Post Was Removed: A Quick Guide to Posting At WSBN
$META, 390 Contracts 100.00 P for 13x Gain | 10K --> 129K
AYVA Part ii… Confessions of an Economic Hitman
$KURA Open Interest on August $20 calls
Read some articles about new CDOs are common and popular (BTO)
Predicted the yield curve flip, and the recession1 year too early 4 years ago; eat my shorts bulls.
Interesting (to me) little wrinkle of convexity in SPY options
Do gold mining stocks offer same gains as holding physical gold in a portfolio?
Are there options you can trade on spot crude oil (i.e. not options on crude futures)?
Question on the JP Morgan "protective collar", MMs delta hedging, and the SPX OI of Dec 31st 4450c
SPY BTO 400c 12/22 (explanation in comments) NFA
Impending market crash? My Musings - For discussion
Tell me why this is too good to be true...it has to be $XOE
09/15 AMZN 3 bagger daytrade // Or why you always follow the volume
5 BAGGER MRNA DAY TRADE BREAKDOWN / OR HOW I REDEEMED A BAD TRADE
Is an Epic Gold and Silver Bull Run About to Unfold? If so what penny stocks are you bullish on?
Understanding earnings -> IV - $X 2week DTE options
Does it make sense to close a PMCC/Diagonal Spread if short call goes ITM?
Large call volume but no subsequent change in open interest
Do any of you retards know what this option strategy is called?
Does this 3 option play i thought of have a name? Looking for feedback
OFFICIAL WKHS weekly YOLO🦍 60% SI💥 SQUEEZE BEGAN JUNE 2nd 2021 & WILL CONTINUE UNTIL EVERY F’N SHORT HAS BEEN SQUOZE🚀🌑🦍 STARTING WITH THESE BTO- WKHS 15 Calls Exp- 6/25 Prem- $.58 SL-30%
Newbie gets first big options trade on AMC- I believe the thanks goes to you Degenerates
Bull Credit Spread cheaper next month than this month? I can roll the whole spread for a credit?
Follow up to my long strangle hypothetical post from yesterday; here is my real world example.
Can we discuss warrants ? I mean isn’t this a good way to insulate pricing for long plays ?
Should I short the coastal housing market?
BTO MOS 6/18 $1.29 yesterday. But total value today @$1.34 was down??
Mentions
BTO 3x RDDT 227.5c @1.37 because maybe it will actually do something tomorrow after I sold my 225’s and it decided to lift above 222 into close
BTO 3x RDDT 227.5c @1.37 because maybe it will actually do something tomorrow after I sold my 225’s and it decided to lift above 222 into close
It's fine as far as it goes. If neutral, why not something like an iron condor? This is based off your $30 strike short put. **BTO** CHWY 27.5P 1/16/26 at $0.51 **STO** \-1× CHWY 30P 1/16/26 at $1 **STO** \-1× CHWY 35C 1/16/26 at $1.74 **BTO** CHWY 37.5C 1/16/26 at $0.98 Net credit of $126, max loss of $124. [**https://optionstrat.com/Cq1kXm1zjrGk**](https://optionstrat.com/Cq1kXm1zjrGk)
At the time of purchase it was an ATM BTO. Honestly was expecting a 20-25% appreciation in price for the year. With me selling some PMCC’s along the way. Maybe even exercising a few of the contracts and closing the rest if they were profitable. When April 7 (tariff day) struck and my options were underwater I honestly couldn’t foresee 220 again let alone $400 that it hit last week on the Google news. I’m just trying to figure out if there are any options I should consider that I’m overlooking currently.
BTO 3x RDDT 12/5 225c @5.45;
BTO 3x RDDT 12/5 225c @5.45;
It happens, especially to new-ish folks. Show yourself some grace. Now... Realize that, at least IMO, trading 0DTE is pretty darn risky. So that's the first thing: move away from 0DTEs. Next, if you're doing just 0DTE SPX, while the S&P is certainly diversified, your trading is not. Lesson 2: diversify your trades over a few tickers. Curious: what was your structure? Buy/sell put spreads? Call spreads? Something else? ... There are ways to make decent money that are less risky. Many folks may scoff at the following, but this is a trade I'm looking at, scaled. **BTO** 30× IREN 30P 12/19/25 at $0.61 **STO** \-30× IREN 33P 12/19/25 at $0.88 So, basically selling a 22 DTE put spread. The short leg has a delta of 9.68. Gross collateral of $9,000. Premium of $810. Net collateral of $8,190. Return on net capital of 10% Probability of profit: 92% Probability of max profit: 91% The stock can drop 32% and you'd still get max profit.
BTO 2x SPX 0dte 6830p @5
BTO 2x SPX 0dte 6830p @5
> basically I do a BTO operation and then a STC Operation but if that contract expires before i STC I have to fulfill what the contract says? Almost entirely right. The BTO and STC part is 100% correct. The "contract expires" part is only partially correct. You forgot the "expires ITM" requirement. Only contracts that expire ITM will be exercised-by-exception. If the underlying is exactly the strike price ($100 strike vs. $100.00 share price) or lower, it is OTM and will expire worthless. An exercise-by-exception means an exercise that is **done on your behalf without you explicitly asking for it**, as a favor to you. If an expiring ITM contract was *not* exercised-by-exception, you'd lose the entire value of the contract. Nobody wants that to happen by accident! So exercise-by-exception is a safety-net that protects that value of **ITM** contracts at expiration. > Or is it just optional? Let’s say I don’t want the excercised-by-exception even if it is in the money or I just don’t have the money to buy the 100 shares, do I still have to buy the 100 shares by obligation if I previously did a BTO? To be clear, your decision to exercise is always optional. However, exercise-by-exception is always mandatory, UNLESS you file a "Do Not Exercise" request to prevent exercise-by-exception from happening. So it's mandatory unless you opt-out, which you should basically never do. Instead of filing a DNE, just STC on or before expiration day. That's much easier and makes much more sense. If you file a DNE, you lose all the value of the contract. Some aggressively paranoid brokers (Robinhood) won't even allow your ITM call to expire. If they see you don't have the cash to pay for exercise-by-exception, they will do the STC for you without waiting for you to do it yourself.
BTO 10x spy 11/26 677c @0.77
BTO 10x spy 11/26 677c @0.77
That’s kind of tricky let me see if I got it right. To do what I really want to do which is buy the contract without having the shares or the money (just the premium money) and then sell it for a better premium price without having any responsibility for the contract after the transaction. What you’re saying is basically I do a BTO operation and then a STC Operation but if that contract expires before y STC I have to fulfill what the contract says? Or is it just optional?
BTO 2x SPX 0dte 6755c @6.1; holding 3x @6.57 avg cb
BTO 2x SPX 0dte 6755c @6.1; holding 3x @6.57 avg cb
BTO 1x SPX 0dte 6755c @7.5
BTO 1x SPX 0dte 6755c @7.5
Real-money trading accounts have approval levels that paper may not. If you don't have the proper approval level on the real-money account, you may be restricted from making trades that you could do on paper without restrictions. Read about option account approval levels [here](https://optionalpha.com/learn/options-approval-levels). > Recently I read that it is in fact possible to buy and sell option contracts without being forced to respond for the whole amount of shares as long as you are not the grantor or writer of the contract. My questions are: Is that true? That part is true, but your next sentence is NOT true: > As long as I’m not the grantor of the contract I’m not forced to sell the shares or answer for the money the contract states? You are confusing two different things. The first part, the part that I said was true, is about **buy to open** for contracts vs. **sell to open** for contracts. If you BTO, you don't need to have shares as collateral. If you STO, you *may* need to have shares as collateral, because you are writing the contract. That's what "writing" means: sell to open. The second part is about your responsibility as a contract holder, regardless of whether you were a buyer or a seller to open. If you open a contract, you are responsible for the terms of the contract. If you BTO a call and it expires ITM and is exercised-by-exception, you are still responsible for buying 100 shares at the strike price. If you STO a call and it is assigned, you are still responsible for selling 100 shares are the strike price, even if you don't already own the shares. > Basically (in general terms) what I learned from the time I was trading on a paper account was that I could buy a contract (not write it just buy it) without having any shares or money related to that contract (just the contract prime), then sell it when I want without being responsible to answer for the contract shares or money if the buyer excercises his right to it, or just let it expire in which case I loose the prime price as max. This is a very common source of confusion for many new option traders, so you are not alone. This also explains why you got conflicting answers, because the words "buy" and "sell" or "buyer" and "seller" are confusing **if they are not qualified by open or close**. **So if you learn nothing else from this question, learn this: ALWAYS qualify "buy" and "sell" with "open" or "close" as explained below.** Buy To Open (BTO): You are the buyer and you open a contract position. You don't need shares as collateral. Sell To Open (STO): You are the seller (writer) of a contract position that you opened. You **may** need shares as collateral to do this, depending on your option approval level. Buy To Close (BTC): This is how you close an STO contract in order to realize a gain/loss on the premium of the contract without involving assignment or expiration. You were the writer and now you are ending your responsibility for the contract. Your obligation ends and you need no longer concern yourself with what happens to the contract after it is closed. Sell To Close (STC): This is how you close a BTO contract in order to realize a gain/loss on premium of the contract without involving exercise or expiration. You were NOT the writer, so you didn't need any shares as collateral. Your responsibility for the contract completely ends when closed. If you use these terms consistently, people will never be confused about what you mean. If someone says "I sold a call", do you see that the phrase is ambiguous? You don't know if they STO or STC, right? If they STO, they are a writer, but if they STC, they are not. Completely different requirements between being a writer or not.
200c were at the money. Rest are OTM calendar spreads. 270c BTO 1/2027 and 270c STO 1/2026. I closed short calls during April meltfown
BTO 5x more SPX 0dte 6740c @0.4 Holding 10x @0.75 avg cb.
BTO 5x more SPX 0dte 6740c @0.4 Holding 10x @0.75 avg cb.
BTO 5x SPX 0dte 6740c @1.1
BTO 5x SPX 0dte 6740c @1.1
BTO 3x tsla 11/28 420c @3.53 for the meme dammit 😂
BTO 3x tsla 11/28 420c @3.53 for the meme dammit 😂
BTO 2x tsla 11.28 410c @7.47
BTO 2x tsla 11.28 410c @7.47
BTO 2x tsla 11/28 390c @12.49
BTO 2x tsla 11/28 390c @12.49
BTO 2x SPX 0dte 6570c @33.70
BTO 2x SPX 0dte 6570c @33.70
BTO 3x SPX 0dte 6760c @19.5
BTO 3x SPX 0dte 6760c @19.5
Shes a ten but she accidentally BTO puts on nvda when you told her to STO puts.
SPX at support trendline … BTO 2x SPX 6640c @15.8
SPX at support trendline … BTO 2x SPX 6640c @15.8
BTO 2x SPX 0dte 6690c @11.4
BTO 2x SPX 0dte 6690c @11.4
BTO 3x SPX 0dte 6630p @4.7
BTO 3x SPX 0dte 6630p @4.7
Local SPX support at 6650-ish? BTO 2x SPX 0dte 6670c @5.9
Local SPX support at 6650-ish? BTO 2x SPX 0dte 6670c @5.9
Uh ... it's hard to determine if you are interpreting them right, since they are extremely unconventional spreads. The -1 TSLA 500/320c is super wide, deep ITM, and more than a year to expiration. A more conventional bear call spread would be -1 TSLA 495/500c vs 404 spot price and expiring in less than 60 days. Spread width determines the risk/reward ratio and narrower spreads are lower risk. Credit trades shouldn't be more than 60 DTE since seller's risk is proportional to DTE. If you are legging into the spread, you'll have to say which leg is already open and what you are adding to it. The 1 GOOG 220/340c is also super wide, deep ITM, and more than a year to expiration. A more conventional bull call spread would be 1 GOOG 335/340c or maybe 275/280c for an ATM strike vs. 277 spot price and expiring in less than 60 days. Same issues as with the other. You shouldn't just throw random strikes into a spread. You need to decide what it is you are trying to accomplish and then conform the structure to those goals. Same goes for expiration. For call credit spreads in the $5-$20 wide range, the target strikes are the short (STO) strike being at or near 30 delta and 30 to 60 DTE. That's the backtested sweetspot for risk/reward. For call debit spreads in the $5-$20 wide range, the target strikes are usually the long (BTO) strike being at or near ATM. and 4 to 60 DTE. That's the backtested sweetspot for risk/reward.
BTO 2x tsla 11/21 420c @6.84; Holding 4x @7.27
BTO 2x tsla 11/21 420c @6.84; Holding 4x @7.27
STC that single tsla 11/21 400c @17.56; 11.32 -> 17.55; 55% profit. Too ITM; too much downside. BTO 2x tsla 11/21 430c @7.69
STC that single tsla 11/21 400c @17.56; 11.32 -> 17.55; 55% profit. Too ITM; too much downside. BTO 2x tsla 11/21 430c @7.69
BTO 20 SPX 5740c 0dte for 13.50 @ 10:43:30 STC 20 SPX 5740c 0dte for 22.60 @ 10:47:48 Nice gain in just over 4 minutes. The bad news is that puts me at even from yesterday when I was trying to buy calls for the V and got burned several times.
BTO a single tsla 11/21 400c @11.32. No more day trades today
BTO a single tsla 11/21 400c @11.32
BTO 1x SPX 0dte 6695c @27.4
BTO 2x tsla 11/14 405c @4.85 holding 4x @ 5.12
BTO 2x tsla 11/14 405c @4.85 holding 4x @ 5.12
BTO 2x tsla 11/14 405c @5.38
BTO 2x tsla 11/14 405c @5.38
BTO another TSLA 11/21 440c @9.73; Holding 3x @9.82
BTO another TSLA 11/21 440c @9.73; Holding 3x @9.82
BTO 1x SPX 0dte 6860c @13.50
BTO 1x SPX 0dte 6860c @13.50
BTO 2x TSLA 11/21 440c @9.86
BTO 2x TSLA 11/21 440c @9.86
BTO 5x AMD 11/14 260c @3.16ea
BTO 5x AMD 11/14 260c @3.16ea
BTO 3x SPX 0dte 6835c @6.2
BTO 3x SPX 0dte 6835c @6.2
BTO 2x TSLA 450c 11/14 450c @7.46
BTO 2x TSLA 450c 11/14 450c @7.46
BTO 2x SPX 6650p @3.7; Holding 3x @7.9
BTO 2x SPX 6650p @3.7; Holding 3x @7.9
BTO 1x SPX 6650p @16.4
BTO 1x SPX 6650p @16.4
BTO 2x TSLA 440c 11/14 @9.32
BTO 2x TSLA 440c 11/14 @9.32
took gains on [those 6630p](https://www.reddit.com/r/wallstreetbets/comments/1oqrgec/daily_discussion_thread_for_november_07_2025/nnlterq/) BTO 4.3 avg (bad entry but ah well) STC 12 think im done for the day.. smart thing to do is close out the client and not trade away the gains
BTO 2x SPX 0dte 6660p @16.3
BTO 2x SPX 0dte 6660p @16.3
BTO 1x TSLA 447.5c/447.5p 11/7 @10.04/10.03; As long as TSLA move 5%+ in either direction this will be profitable.
BTO 1x TSLA 447.5c/447.5p 11/7 @10.04/10.03; As long as TSLA move 5%+ in either direction this will be profitable.
BTO 1x tsla 11/14 450c @18.08
BTO 1x tsla 11/14 450c @18.08
STC 3x RDDT 12/19 170p @9.21; 7.96 -> 9.21; 16% profit. I’ll look to re-enter if it reaches back to 200 before 170. BTO 3x SPY 11/7 676c @1; BTO 5x SPY 11/10 679c @1.02
STC 3x RDDT 12/19 170p @9.21; 7.96 -> 9.21; 16% profit. I’ll look to re-enter if it reaches back to 200 before 170. BTO 3x SPY 11/7 676c @1; BTO 5x SPY 11/10 679c @1.02
BTO 2x SPX 6800c @11.4
BTO 2x SPX 6800c @11.4
BTO 2x RDDT 12/19 170p @8.37;
BTO 2x RDDT 12/19 170p @8.37;
BTO 1x TSLA 11/14 450c @18.93; BTO 1x NFLX 11/7 1100c @12.49;
BTO 1x TSLA 11/14 450c @18.93; BTO 1x NFLX 11/7 1100c @12.49;
BTO 3x SPX 0dte 6840p @1.9
BTO 3x SPX 0dte 6840p @1.9
BTO 2x NFLX 11/7 1120c @9.63ea
BTO 2x NFLX 11/7 1120c @9.63ea
BTO 4,000 @3.29 BTO 4,000 @3.27 (still open) I believe in Santa ^(and rich people buying their dogs and cats shit for Christmas).
Tsla did well so my atm call went ITM. STC 1x TSLA 11/7 440c @19.5; 17.95 -> 19.5; 8.6% profit; BTO 2x TSLA 11/7 450c @14.2ea
STC 1x TSLA 11/7 440c @19.5; 17.95 -> 19.5; 8.6% profit; BTO 2x TSLA 11/7 450c @14.2ea
BTO 1x RDDT 210c/185p @9.25/8.60
BTO 1x RDDT 210c/185p @9.25/8.60
I opened LEAPS calls on META this morning. While I've changed the quantities, if I had done it as a spread here is how I would have done it (i.e., with the short call included). **BTO** META 500C 1/21/28 at $253.50 **STO** \-1× META 1300C 1/21/28 at $33.38 80 delta long, -20 delta short. Cost $220.12, max profit $580. [https://optionstrat.com/qo0z4C8Y2JYK](https://optionstrat.com/qo0z4C8Y2JYK)
Done! **BTO** 4× META 500C 1/21/28 at $253.25 (Delta 82.8)
BTO 1x TSLA 11/7 440c @17.95