BTC Reddit Mentions | ChartExchange

Context:
-Roughly 133k capital used (around 100k GBP, started the month closer to 80k).
-Trade on Margin, but I am UK so I'm only allowed RegT which limits exposure
Stocks used:
$ASTS, $IREN, $IONQ, $CRWV, $LUNR, $SEDG
In total I sold 276 put contracts, 18 covered call contracts and was assigned 600 shares.
Started the Month in an underwater position of 31*ASTS 74 strike puts expiring 8th May - at the time of selling was around 30 delta but Rakuten Group started dumping shares into the market giving an extra ~2 days of selling pressure for 2 weeks.
Earnings were the Monday aftewards so I chose to BTC the position for $9.4 and sell the 5th June 75 strike for $14.5 giving me a credit of $15810. Went on to BTC these for $1.20
As the stock recovered I began using freed up margin to sell small amounts of other puts, LUNR and IREN for some pocket money.
On 15th May I got assigned 600 shares of IREN at $55, with a cost basis of $53.7, the stock was trading at ~ 52 in afterhours and continued to drop the next week.
I sold 55strike calls for 5th June for $3.75 premium but eventually bought back for $1.75 and sold weekly 50 strike calls for $2.9.
Overall due to premiums my cost basis was around $48.5 so I came out of that with roughly $1k profit, whereas if I had conviction in the stock as much as I did with ASTS I'd have profited around $3k.
ASTS then started running so sold more puts that I closed the day after for 50% profit, but margin requirements in my broker meant that the number of contracts I could sell was a lot lower, so I began looking at other stocks $SEDG and later, $CRWV.
50*$SEDG 62 strike puts for $1.15 premium bought back the next day for $0.28 for.
40*$IONQ 62 strike puts for $0.88 bought back the next day for $0.6. The stock price hit 61.xx in pre market and I was travelling so I was unable to manage the position if I needed it.
Ended the month with an open position of 60* $CRWV 95 strike puts, sold when SP was 105.3, 20 delta 27 theta for $11100 premium
Learnings this month:
- Don't rush into trades just because you have available funds. It worked out fine for me this time but probably won't be so lucky
- Make sure you have convictions in the stock you're trading, I could've had ~ $2k more profit if I believed more in IREN.
- Slow down on premium chasing. I got VERY lucky this month as I was selling AI and space/space adjacent stocks and they were running

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Bitcoin / Tether USD Feb 29 2024 59000.00 Put
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