CCS

EsmiradaT

I used to trade SPX 1-7 DTE credit spreads but with the recent volatility made me switch to 0 DTE to avoid the overnight risk. We use GEX, VWAP and market structure to decide between PCS/CCS, and sometimes run an iron condor on range-bound days looks range-bound. If you want to compare setups or trade alongside others, feel free to join us. The discord link is in my profile. Daily results are all posted with full transparency and free to join for now.

Prestigious-Ad-7927

Sell 420 contracts of the Jun 2027 38 calls for 10.85. This will lock in 2.25 of profits or $94.5k and if SMCI stays above 38 at expiration, you can sell the spread for 13.00 or another $546k. If you convert it to a broken wing condor by selling 420 Jun 2027 60/65 call credit spread for 0.75, that’ll give you an extra $31.5 to lock in a guaranteed profit of $126k at expiration. If MSCI is between 38 to 60, you’ll make a total of $672k including the credits you received by selling calls and the CCS. If MSCI is above 65, your max profit would be $462k.

SunshineFlowerrs

do u sell CCS at high of day?

Bubbleman54

Your age matters. But unless youre over 50 just invest it all at once. OR take a look at Cash Secured Puts and sell some options to get assigned at a price you like on something like SPY or SPYG and take some and go ahead and buy and sell covered calls. Take the premiums from CCS and CSPs and use it as income or just use it to buy more at whatever price its at. Whether you use it as income or growth also depends on age

Vandamme_1

Really well done on this website u/ThetaHedge . Thanks for sharing. Have been a regular CSP/CC/PCS/CCS seller these past few years and had been sticking to the same set of tickers out of laziness mostly - this is awesome.

hermeskino715

Nice to see my CCS decaying nicely AH. Dumb bols thought NVDA would get a +10% move and SPX would reach 6800 by next month lol Stay regarded bols

Strict_Property_3327

Sell covered calls and cash secured puts. Slow and steady. Wheel is a great place to start. Manage risk, when you’re disciplined and want to get back into day trading small accounts look into credit spreads using the CCS and PCS profits only. Never go below your account starting point, once it goes below you stop trading and wait till the long stocks come back up.

hermeskino715

You got to be shitting me, just when I closed my SPX CCS

_hiddenscout

$CLS Celestica reports Q1 adjusted EPS $2.16, consensus $2.08 Reports Q1 revenue $4.05B, consensus $4.05B. "Celestica delivered a strong first quarter to begin 2026, achieving revenue of $4.05B and adjusted EPS of $2.16. Our solid results included adjusted operating margin of 8.0%, a new milestone for the company," said Rob Mionis, CEO. "We continue to see accelerating growth from our CCS customer base, alongside increasing profitability in both our CCS and ATS segments. Driven by this momentum, we are raising our 2026 annual outlook to $19.0B in revenue and $10.15 in adjusted EPS. Our outlook for 2027 also continues to strengthen from just 90 days ago, supported by new program wins as well as improved forecast visibility with our customers." Sees Q2 adjusted EPS $2.14-$2.34, consensus $2.13 Sees Q2 revenue $4.15B-$4.45B, consensus $4.17B.

Coffeewin

Entered SPX CCS 7125/7150, index at +4.5 ATR looking for a mean reversion down to about 7000

systerix

yea after being at such lows, bound to have a massive recovery day - just be a perma bull and play PCS! (instead of CCS)

marketmispricing

We have a very similar approach! I am focused more on SPY and finding mispriced calls/puts and when I identify them, I immediately do either a CCS or PCS to grab the credit and then exit (at a minimum 20% profitability) or if the market is moving in favor allow it to continue to move. I spent around 18 months on the algorithm that takes the basic principle of black-shoals and layers in more current volume, regime and other components and refactors every 10 seconds to find those mispriced option entry points. Let me know if you want to check out the site...it's available now and would love your feedback!

Practically_Hip

Yep, with you completely. And I got sliced today by sold CCS exploring day. Window dressing day caught me exposed. This will involve more red days (than just me).

Rvin16

Irán was right this morning lol sold CCS ATM right at open

systerix

premiums on CCS are so much smaller than that of PCS with the equivalent cushion better used as a hedge but yes I should have put on the CCS much earlier in the day on Friday... I just didn't expect a 3.0% SPX drop in 2 trading days back to back

systerix

yup pretty much, I was craving a round of pebble beach screen golf and was having too much fun to check my phone LOL But hey i still managed to squeeze in a little CCS hedge at the end =P

Rvin16

Lol sold ATM CCS 6670/6590 at open made 765 profit

hermeskino715

I find IC hard to fill on robinhood. I just separate them (CCS + PCS)

NoviceAxeMan

i love selling CCS on uvxy it’s my favorite income generator errrr i mean incinerator

HealthyMembership946

$LULU CCS Paid

HealthyMembership946

I too I’m holding CCS 93/94

systerix

I use a combo of call credit spreads (75%) and shorting ES (25%) to hedge. Hedging with futures is easier but uses up a lot of margin because the general rule of thumb is 2 futures contracts needed for each single contract of credit spreads. So for a position with 40 credit spread contracts, I would need to trade 80 ES futures which is obviously way too much. I usually stick to up to 5 contracts of ES and treat this like a shorter term hedge that I remove once the market starts turning back to my favor (I guess you could call this almost like day trading in a way, but with the intent for the ES position to lose money lol) Hedging with CCS is my main bread and butter, I usually go 20-wide and set at specific support levels once the market turns. Given 20-wide and small amounts, these generally net me about 100-150% returns if market remains under which allows me to big profits (the caveat being if the market starts to recover, these hedges quickly get obliterated which is fine because my main PCS position is no longer under threat). The key here is to size the hedges accordingly - you dont want to put on a $20k hedge when your underlying PCS profit is materially less and vice versa. During Liberation day I had a hedge worth $200k which got me $420k in profits, even though my main PCS position got wrecked (because the market dropped so quick i.e. Black Swan event) which allowed me to keep net losses to a minimum and make up all my lost money + more in the following week given how high VIX was for the next 3-4 weeks. This is just surface level stuff but hopefully this sheds a bit of insight on my hedging process

PetikMangga-

whats ES - CCS ?

Timely_Primary521

Lmao UVXY CCS with VIX at 30 is a painful place to be. Relief will come but timing it is the hard part. Hang in there.

Dimathiel49

I would have but the nozzle foes fit into the CCS port

systerix

CCS = call credit spreads (bear spreads)

NoviceAxeMan

*cries in UVXY CCS* i need some relief lmao

Wise138

Got it. So we are on the same page, CCS?

systerix

because premiums on bear spreads are materially lesser than bull spreads. And given where the market is at, one tweet / notion of the war ending and SPX will likely spike back to the 6880 area (key resistance level). Better to enjoy the fat premiums of bull credit spreads at the moment and use CCS to hedge

systerix

Shorting ES and CCS primarily So once my cheek gets penetrated my hedges will PRINT HARD

Rvin16

So ATM CCS SPX expiry tomorrow free money? 👀

systerix

Less risk and higher theta decay with 100 wide vs 50 / 25 wide. Much higher gamma the tighter your spreads are which becomes a double edged sword. Not to mention, you need much more contracts which equates to more broker transaction fees. 100 wide is my safe spot for my default PCS positions, but I typically use 20 wide when I am hedging with CCS

systerix

honestly I would be very excited for that - I have a ton of dry powder to hedge by PCS position via ES futures and CCS, and more importantly that would bring VIX up to mid 20s which would get me FAT premiums for the following weeks. Fingers crossed we drop HARD

systerix

I will say I generally steer away from call credit spreads (i.e. betting on bearish direction) because the premiums on the calls side are typically a lot less then that on the puts side. However I do use CCS very often for hedging (typically 10-20 wide instead of 100 wide for my base PCS position)

Mindless-Sabrina

If you had a CCS and puts, doesn’t that mean you won?

NickyK96

MY GLD vertical CCS isn’t entirely cooked let’s go

NickyK96

well GLD is just gonna keep pumping and my vertical CCS is just gonna keep crying

NickyK96

Need me CCS vertical to hit tease him harder and come back down baby girl

NickyK96

Opening a vertical CCS in SPY today just because I know we’ll close below this

NickyK96

I got $455 $456 CCS so I think I’m gonna be okay I’ll pray to the gold gods

Paincoast89

i feel so smart for opening a CCS at peak today

The-bandito

So basically buy long dated CCS on red days and vice versa for Green Day’s and just churn them out continuously?

Ok_Rent5670

Uh oh. My CCs... MY FUCKING CCS!!!!!!

Kmart_Elvis

Check out 0dte call credit spreads on RH for SPY. There is insane premium. SPY is at 682. A CCS 683/684 is .88 credit. If SPY ends below 683 you get $88. If it goes above you only lose $12. You can go up or down with strike price, or you can widen your wings, but you'll see how juicy the premium is. A 691/692 gets you $59 if the price stays the same, goes lower, or even rises 1.37%. If it goes above 1.38% you lose $41. Not seeing this on QQQ, SPX, or XSP. Is this a glitch?

Klobasor

CRC delivered another strong quarter: production on track, EBITDAX beat expectations, and capex came in below plan. FY26 expansion includes a 4-rig program and improving reserves outlook. A new partnership with Capital Power also opens major CCS growth potential. Analysts consensus for target price is 56$-72$

serumvisions__go_

just an additional note when doing diagonals like this with leaps and cc’s. they are correct you almost don’t want trends when doing this because if a cc expires itm you loose all of your premium and can get whacked if you’re not careful ALWAYS ROLL OR CLOSE CCS before expectation

Sundance37

I sold CCS knowing that I have seen this play before. Easy money.

d_HOME

u/SonoPelato, u/crazybitcoinlunatic, u/Afraid-Hope-8689 Jan 2nd, Friday. Right at market open it already shows a sign of the top, GEX was at 6900, I started with 6905 CCS and increase position when it became a high conviction play; positions were already up 80-90% by midday. Found the bottom around 14:00, placed another PCS, big win that day. Use you favorite indicators, finds liquidity level, ICT, SMC, supply/demand, whatever you like, combined that with GEX level, that should give you a good starting point. Continue to watch GEX intraday levels changes to adjust your positions if needed.

Virtual-Resident-875

Defined-Risk Index Options Strategy – Looking for Feedback I’m looking for constructive feedback on a rules-based options framework I’ve been refining. This is focused on consistency and risk control, not max leverage or lottery trades. Tickers SPY IWM QQQ (tracked for context, not currently in a position) Index ETFs only — no single-stock or earnings risk. Core Strategy Defined-risk vertical credit spreads Bull Put Spreads (PCS) Bear Call Spreads (CCS) Goal: sell premium outside expected moves, not predict direction Entry Rules 35–45 DTE (target ~40) Monthly or liquid weeklies Strikes placed outside daily & weekly expected moves EMs calculated manually from options chains Exit Rules Take 50–70% max profit Hard exit by ~14 DTE No holding to expiration No rolling for income Risk & Capital Management All trades are defined risk Position sizing capped Buying power intentionally left unused No naked options No stacking same-direction exposure during elevated risk Hedging (Used Sparingly) Smaller than core positions Further OTM Temporary only Removed once risk passes May use shorter DTE than income trades Context Tracked (Not Triggers) Daily & weekly EMs Volatility regime (IV vs HV) Major macro levels (ATH-based pullback/correction levels) CPI, FOMC, OpEx Looking for Feedback On Does 35–45 DTE → exit by 14 DTE make sense to you? Rolling vs taking profits early on defined-risk spreads Hedge sizing relative to core exposure Anything you think is overkill or missing Appreciate any thoughtful input 👍

Putrid_Leg_1474

In the last month or so BTC has tried breaking the 90k several times just to retreat. Its your money but if you get a pop and the calls go to .18 I think you'll be lucky. I threw in a CCS short strike at 167.5 today hoping for MSTR to go double digits mid year.

Sufficient-Curve-853

Go ahead and buy any of these stocks with p/e high of 10.1 and low of 3.8 if you stumbled on the secret sauce: CAG, TPH, MTH, CCS, DFH, CIVI, or OGN.

Putrid_Leg_1474

I for one, hope we see BTC go back to ATH. At that points we'll see if MSTR is even the leveraged play it bills itself as. Until then, I sold all mine and sold CCS's on the way down.

ashman467

It's because I defined my Vertical Risk Spread when I did a CCS. As a Level 3 Option holder, I cannot be stuck with naked call options. When the sell calls were exercised, Robinhood needs to auto-execute the buy calls to cap my losses. That's literally what is supposed to happen. The problem is Robinhood did not. Every other broker does this.

zerofrakhere

Ok so on Nov 20 this was my play. I sold the CCS on 25660/25760 at 7am/10est , then at 9 am /12EST I sold PS 23630/23530 and added a few more 30 mins later . Both legs expires worthless. I usually only do one side and only when one side is over extending. I feel like I always lose if I play both side. But finally found another man of culture doing 100 wide NdX spread lol !

DBCooper_OG

pretty damn good, thx for checking in!! closed the longs on the jump that day n the next, kept my short CCS's and closed em all on just this last friday for a penny each! why u trolling bruh? u coulda asked me back then what my longer term strat was, i enjoy talking technically and respectfully...

syadm108

Statistically and historically speaking SPY or SP500 is more likely over time to go up than down. Leap on the other hand has the theta (other Greeks) risk and that plays with my mind during periods of drawdown. Same with PCS (put credit spread), one may lose out it goes other way- the r:r is skewed based on the delta, IV and strike width. In case of stock, one doesn’t have the risk of time element and if the bull thesis of price appreciation doesn’t work out we can have stop loss or else wait out such period. Again there is a lot on individual temperament and mindset, so if it works for you and you can manage those situation well without giving into emotions and can honor the defined risks of stop loss then why not. My own personal anecdotal data as well we mindset doesn’t handle such situation well. Yes, from time to time I also do leaps and sell credits (PCS or CCS).

No-Necessary-9026

J1772 is only single phase AC. As the MW goes up (DC fast charging) it’s either CCS or Tesla NACS. So far most brands are opting towards Tesla- Hyundai, Mercedez, Rivian, Kia. On top of the fact that Tesla still owns most superchargers for all those that use an adapter.

SirBobPeel

CLS. Big falloff today due to the sudden tech route, but up 200% YTD and was just as good last year. It's made me a pile of money. *Celestica Inc offers supply chain solutions. The company has two operating and reportable segments: Advanced Technology Solutions (ATS) and Connectivity & Cloud Solutions (CCS). The ATS segment consists of the ATS end market and is comprised of the Aerospace and Defense, Industrial, health tech, and Capital Equipment businesses. Its Capital Equipment business is comprised of the semiconductor, display, and robotics equipment businesses, and the CCS segment consists of Communications and Enterprise end markets, The Enterprise end market is comprised of its servers and storage businesses. The company generates a majority of its revenue from the Connectivity & Cloud Solutions segment.*

GotBannedAgain_2

If u r gonna play 0, play PCS/CCS.

GotBannedAgain_2

I mostly played NDX PCS and CCS. And I played aggressively. 5 contracts at a time, cost around 50K. I played 0 DTE, way OTM, like 300-400 points out. My target was/is 1K profit per day. And I scaled my target depending on the market conditions. There were days when I barely scratched 1K. And there were days where I made more than 2.5K.

Aggressive_Lemon_709

couldn't buy the dip, but at least closed out my CCS,

Striking-Block5985

okay I will bite the CCS (bearish) is a $1 wide 646/647 its ITM worth 95c credit right now Friday evening of 7th with a week to go, SPY has to drop a lot to get it to expire worthless very unlikely has to drop that far in one week The 705/695 put credit spread (bullish) gave credit of $10, almost the width of the spread , and becaus that 705 is so far ITM, 8 contarct got assigned. It happens but the further ITM they are the higher a chance it can happen. I'm not surpised you were assigned 800 shares. The word "dabble", and "didn't seem expensive" , dude don't you undertstand that options are highly leveraged, what didn't seem expensive to you, well thats how they are priced, 10 contatcs don't seem a lot but they represent control of 1000 shares of a $650 stock!, thast 650K if you get assigned Either way you are learning to not sell so far ITM short strikes again,. You did get a bit unlucky but it does happen. btw that is not a small spread it was $10 wide

GotBannedAgain_2

I was “smart” enough to close my SPX CCS after 4pm on Friday. Then again, my intelligence comes to question as to why I tried shorting the mango market in the first place. 🤡

Datsyuk131313

It continues to trade like an overlooked turnaround play heading into earnings. In my opinion, it's still being priced as if it’s the same bloated company from a few years ago. Post CCS sale, they're left with their ANS and Ruckus divisions, which posted $127 million in quarterly adjusted EBITDA in August, up 326% YoY. On an LTM basis, that’s around $300 million EBITDA, and management has stated the business requires minimal capex - directly pointing to future margin expansion. ANS and Ruckus EBITDA margin hit \~25% in Q2, up from \~9% in the previous quarter. With debt continuing to come down and limited capital investment needs (from the CCS sale), there’s room for further margin expansion and deleveraging into 2026. I suspect they'll cross 30% in adjusted EBITDA in 2026 and will provide guidance for such on Thursday. This ultimately all hinges on earnings confirming these trends, and we'll need confirmation that CCS is still on track to close in the first half of 2026. IMO, this looks like one of those post-divestiture stories the market often overlooks until the results speak for themselves. Continued growth in ANS and Ruckus in Q3 and positive sentiment around CCS' eventual closing are the first leg of those results. If guidance is solid, I think the street will revise current 2026 EPS estimates of $1.61 to around \~$1.82-$1.85 (15% markup), and at today's PE ratio of 12.13x, the stock could reprice to \~$22.50 over the next year. Hence, a $2-3 pop.

GotBannedAgain_2

With a jacked up IV, you’d be lucky to make anything. Best to sell CCS and bank on both theta decay and high premium.

dwaereded

Here’s the clean compare. Conventional jet is cheap: roughly $2–$3/gal in recent data (Europe’s 2024 reference sits near $2.3/gal). Public techno-economic work for ethanol-to-jet (ETJ/ATJ) puts a plant-gate minimum selling price in the mid-$3s per GGE in a base case, rising into the $4–$5.5/GGE range if you require green hydrogen, cleaner power, or extra carbon handling. In the real market, bio-SAF sold in Europe (a basket that includes HEFA and ATJ) has averaged about $6–$7/gal, while eSAF/PtL is far higher (around the mid-$20s/gal). So on pure cost: fossil jet \~$2–$3, ETJ TEA mid-$3s→$5s pre-policy, HEFA/bio-SAF market \~$6–$7, eSAF much higher. What closes the gap are mandates and credits, not wishful thinking. In the U.S., 45Z can add up to $1.75/gal for qualifying SAF based on its certified carbon intensity, and state programs can stack on top; in Europe, rising blend mandates and compliance math force buyers to source SAF or pay penalties. Co-location with an operating ethanol plant and CCS is about driving a lower CI score so those credits actually land. Whether a specific ETJ project is profitable with the loan then comes down to boring math: its verified CI (which sets credits), its true plant cost (feedstock, utilities, capex/financing), and its contracted selling price. No forecasts here, just the levers that decide if the delta pencils...

GotBannedAgain_2

That’s when I got the fuck out of my SPX CCS. Shat my pants as I had bought those right at the bottom when ES thought it was fun to keep moving up.

GotBannedAgain_2

I am ready to get hurt by gold again. Gonna full port CCS tomorrow. 🤡🥶

GotBannedAgain_2

Somehow, my regarded ass bought puts and CCS.🙏

Vegetable-Level906

Thank you so much! I still need to understand the Greeks more. Until then trading these CCS will not be a wise idea!

neothedreamer

The problem is holding a 3x inverse ETF will get creamed as the market continued marching up. People lose more money trying to hedge than in the actual downturn. Sell CCS otm on strong stocks.

Wiscoguy1982

That may have been me….. and no, you know how CCS work.

Real_Side_7183

I lost about 80k couple years ago. I was an electrical engineer working in EV charging world, and I thought that was a promising idea so bought a lot of charging companies stocks. Then with Ford, GM and other companies announcing they were going to adapt NACS and dropping CCS, I lost 80k in about a week. That’s all my savings for 3 years after graduation, I couldn’t sleep at all for multiple weeks and it emotionally drained me for an entire year. I only buy VOO now, it has been great and I would never buy any stocks.

sadferret123

Fuck me I JUST SOLD AGGRESSIVE CCS ON GOOGLE FFS

Coffeewin

Locked in all GLD and NVDA long positions, nice +1.32% day. Putting on portfolio delta neutral SPX CCS hedge. $PCALL is still extremely low, in addition to JPM's collar strike at 6505 expiring next week. Potential to be a magnet level for the next few days if breadth continues to be weak. Most important thing is to not get caught in the possible flush

Paincoast89

I full ported SPY CCS, i’m feasting

Paincoast89

Full ported into 1 month DTE SPY CCS, JPOW please save me

mulberryzeke

CCS as in covered calls? Into a rate cut environment?

GotBannedAgain_2

All I fucking had to do was go long. But no! I had to fucking get CCS. 🤡🤦‍♂️

GotBannedAgain_2

I’ve got CCS expiring tomorrow. One of us will bank. Take your pick.

GotBannedAgain_2

If inversing WSB is a thing…my SPX CCS r so fucked. 😭

GotBannedAgain_2

I just need ES to open flat tomorrow. Red is great. Slight green is okay. I just need to get the fuck out of my SPX CCS. 🙏

wolf_of_rapestreet

I think we need to have a sidebar and CD your SLT facing deck for CCS on the CI/CD 2026 RM so UM and Infra are clear on your goals WRT DevOps and RevOps

GotBannedAgain_2

Why fuck did u buy so close strikes? I tend to go at about 300 points out when it comes to CCS. I don’t know bro. I’d like to hear your logic behind this.

GotBannedAgain_2

I could’ve made easy money with TSLA but going long. But no! I had to try shorting it. Sometimes I just wanna slap the shit out of myself of being so fucking stupid. 0 DTE theta on my CCS saved my dumb ass, not once, but twice. 🤡😭

GotBannedAgain_2

Me last week: OPEN will never reach $10. Let me get some CCS. Thank god I didn’t do anything. 🥶

GotBannedAgain_2

Been there brother. Even today I just had to try CCS as PCS felt like a no brainer. It’s in our psyche to inverse. MMs bank on our tendencies to be degenerate morons on days like these.

GotBannedAgain_2

My plan early morning: 9/11 day. Shit is gonna be rocketing. I played couple of PCS and made easy money. So fucking easy that I got complacent… Around 11:15AM - fuck this! I am shorting. Got SPX CCS expiring tomorrow. Holy fuck did it make me shit my pants. Being a loser, I closed with only $40 profit. Didn’t have any problems when I was down about 2.5K. 🤡😭

GotBannedAgain_2

Do I really wanna short a seemingly freight train? The degenerate in me is screaming yes to CCS…

GotBannedAgain_2

When the bell did u buy the puts? ORCL shat the bed. I missed my opportunities to get CCS. 🤦‍♂️

Sharaku_US

Instead of shorting just sell CCS, the premiums are juicy.

Coffeewin

Scaling out of 20% GLD leap position, always remember to progressively lock in gains. Adding more SPX CCS hedges

Coffeewin

GLD safe haven lmfao. Putting on QQQ and SPX CCS hedge. That daily candlestick doesn't look right, fat institutional selling under the hood

GotBannedAgain_2

Keep google out of your dirty, grimy bear paw. (Gonna get CCS soon on that shit, most like tomorrow. Let the idiots hold their bags.)

tohams

Not sure what strategies you're employing, but OptionsOmega is what I use to backtest my options trades (all PCS and CCS...and ICs)

GotBannedAgain_2

Lost money by being a fucking pussy and closing too early on my CCS, then on my PCS. Goddamnit!

GotBannedAgain_2

Time to get ready for Friday’s Jummah prayer. U guys trade this shit. Would’ve made fuck ton of money if I had held my CCS. But green is green…even if it’s just a small fraction.

GotBannedAgain_2

Gonna swing CCS for Tuesday expiry. But most likely I am gonna get in calls and get fucked.

GotBannedAgain_2

I feel ya bro. If it wasn’t for the dump in the morning, my SPX CCS were totally fucked.

GotBannedAgain_2

I am sorry brother. Plz let this poor bear get the fuck out of his shit hole of SPX CCS.