this is why i gamble on my dog's account not mine

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You don’t get to use the premium, it’s held in escrow as collateral against the position. There is basically zero chance NVDA goes in the money on these, but that wasn’t the goal. The real way this trade is profitable is any spike in volatility will decrease the spread. I.e: I opened the spread and received a $29.99 premium by putting up $0.01 in risk. NVDA earnings has a 5-7% run up in a few weeks… (very possible, look around at all the insane volatility) Now the spread is “more likely” to hit, IV increases, and there are buyers for $26-$28. I close the position for $27 and keep $2.99 x 100 x 225 =$67,275.00 for ~$250 in risk. This play is about as dumb as buying single leg call options that are deep out of the money. It’s dumb, and gambling, but not as regarded as the millions of people in this sub that don’t actually understand options.

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Thoughts on UNH next week?

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Jim Creamer went bullish on META. Oh no, zuck bros!

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Don’t forget markets closed on Monday

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Put it all on SQQQ

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Then exercise the other leg of your contracts! There’s a reason why they are spreads and not naked calls lol You’re fine. But it’s shocking how many regards on wsb in the comments can’t even understand this basic concept. 

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If doesn't happen earlier on, this ipo will pop the bubble

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#I HAVE A $600 CALL EXPIRING 2/20, BETTING ON AN END OF YEAR RALLY TO SELL IN DEC LMAO🤌

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How did you lose on this? You were assigned above breakeven. Just close out the stock for the gain and get the increased extrinsic from the long put value increase? You should have made out with a gain...?

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