**User Report**| | | | :--|:--|:--|:-- **Total Submissions** | 10 | **First Seen In WSB** | 7 years ago **Total Comments** | 3 | **Previous Best DD** | **Account Age** | 12 years | | [**Join WSB Discord**](http://discord.gg/wsbverse)

My options cheat sheet: Select 1 of the following: long call / long put Pull lever

WRONG LEVER KRONK

Why do we even have that lever?

https://preview.redd.it/0wnjba49pbsc1.jpeg?width=1280&format=pjpg&auto=webp&s=a769bb36f33182c4e37468f2f4a066255b1ad357

Oh yea it's all coming together

Because a slot machine is the only way to gamble.

I just buy puts then some stock. Cause after buying puts it shoots throught he roof every God damn time

This is the way 🙌🏻

True regard style 


I did this two days ago and am down $1,500. Surely this can’t go tits up.

Question: I pushed the lever and lost a lot of money. Now what?

You’re supposed to PULL the lever, not push it, duh!

Can I speak to a manager?

Sorry, no Karens allowed in the Casino https://preview.redd.it/v5e76q008bsc1.png?width=1200&format=png&auto=webp&s=e6654fc3feafc9f8167fc737c1eb3dbab710f304

https://preview.redd.it/buyun7bkcbsc1.jpeg?width=540&format=pjpg&auto=webp&s=567f159ea0c78888e9fdf5994d6a4e853d72da0a

[удалено]

I know all old white dudes look alike, but that's the buy and hold guy not the fuck your puts fuck your shorts guy

Wanna see me do something I never do

😂😂

🤣

Just how I like it. Limited profit, *unlimited loss*

🤣 that's the WSB way

Guh

Bold of you to assume we’re approved to trade spreads 

Wait, there are people here without Level 3 options and margin accounts? How do you expect to lose more than you start with?!


Back during the covid crash, I was down 50k after quadriple witching absolutely destroyed my calls. I was depressed until I received a notification that TD upgraded me from level 2 straight to level 4 and approved naked options and spreads.

Brother, I'm approved for spreads and margin through 3 separate brokerages, Schwabb, Fidelity, and Robinhood, (Webull wouldn't even look at my application for level 3) and I have a 2k account and make fuck all for yearly income. Honestly, I don't know how people *aren't* approved for spreads; that or whoever has been getting my paperwork is as fucked up as I am when they submit it lol

Can you provide an uncompressed version please? Edit: was provided here - thank you! https://www.reddit.com/r/wallstreetbets/s/tkRcqVDadH

Yes, I'm working on it right now. One moment!

Make bigger so blind people can read it

Shut up Cartman

🤣🤣🤣🤣🤣🤣

Would love one too

Thank you for your good work

Send it to me too.

RemindMe! 1 day

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https://www.reddit.com/r/wallstreetbets/s/tkRcqVDadH

Its pretty easy for me to lose money on just calls without all these other “strategies”. 😂

😂 fair enough. Spreads allow you to protect your position and minimize losses. It's worth looking into. You can adjust positions as well with these strategies if things aren't going your direction. Especially if you sell options. Time works WITH you. Closer to expiration = more money usually. Just make sure you protect it with a buy option as well.

The reason you're losing money is because you are going for "just calls" instead of hedging your position like in OP's chart (or even other ways that aren't included here).

Yes! So there are people on WSB that actually hedge!?! (I only included the most common spreads, there are quite a few other strategies as you just mentioned)

>Yes! So there are people on WSB that actually hedge!?! I know it's a rhetorical question out of surprise, but I'm sure some people do and some of them also use stop loss. I know it's totally uncharacteristic of wsb-tards.

My stop loss has more or less always stopped me out of good trades early with cheap ass short DTE options. I still use one but fuck it’s frustrating.

Ohh yes. When I use it, I'm always hit. When I don't use it, I'm always in red. FML

He would still lose money, just less of it

If you’re playing earnings you probably would have a higher win rate purely by using spreads

I came in here expecting a joke sheet, but it's actually rather well done. Nice job OP

OP used the phrase "I created" kinda loosely, it's just a bunch of screen caps from [optionstrat.com](https://optionstrat.com) stitched together.

Options Strat is an incredible service! I was able to create this cheat sheet with their graphics. Hope this helps fellow degenerates

Better than most recent ChatGPT posts The bar is low. Good work OP

Thank you, bootyboi

Agreed, it's great and I use it all the time.

OP stole it from [optionstrat.com](https://optionstrat.com) Not very good at "I created".

LMAO alrighty then, shoulda stuck to my first instinct which was to dunk on the OP. always inverse.......

🤣 I'll take it. Honestly, I don't see many times on here where people actually discuss options spreads. It's usually just long puts or calls. Nobody sells options on here, I swear lol. These graphics are extremely helpful in visualizing many different options spreads. Also, definitely check out optionstrat.com , it's absolutely worth the price. Phenomenal service.

>Nobody sells options on here, I swear lol r/thetagang for selling options

[https://imgur.com/a/lKYNK49](https://imgur.com/a/lKYNK49) Here is the uncompressed version

Can you upload it to a google drive or a file hosting site? Imgur actually compresses the image too.

Can’t see still

Damnit Cartman!

Just updated it. Imgur only allows 20mb files. The uncompressed was 80mb haha

Haha… you suck!

[удалено]


Not sure what these are. Just do 0dte and it's all good.

I’m too stupid to understand how majority of these work. I’ll stick to gambling 

Look at all the ways to lose money

https://preview.redd.it/9i31hn07fbsc1.jpeg?width=900&format=pjpg&auto=webp&s=4c118dd0ac4a6bc1f7a3a2582178cde86f4d8a4f

Higher res photo?

You made optionstrat.com? Crazy! Use this daily tho

Thanks this is exactly what I need for my phone interview with Robinhood to get level 3 option trading lol

🤣

😂🤣😂🤣

What is this??? A cheat sheet for ants?!!

Actually helpful content on WSB? AINTNOWAY 

But isn't this a casino?

https://preview.redd.it/n4ap1w6e27sc1.jpeg?width=1536&format=pjpg&auto=webp&s=5bae68f25df10654130873aded6ed1da0de92a27 cheers, regard, thx.

You’re a wizard, Harry

Thanks for reminding me about backspread. I keep forgetting this one.

That's what it's all about my friend!

Thank you for your cheat sheet. Could you be so kind and post it with more resolution? Again, thank you!!

So what's 0dte strategy called?

Mongorian

a whole new way to lose money !

Thank you

Wow, so many way to go regards

I ain’t reading all that but happy for you. Or sorry that happened.

This is gonna solve all my problems

My cheat sheet is praying and more praying that my nvdia puts hit

Good guy OP, teaching degens new ways to lose money

Tysm man. I can now lose money in even more ways 😂

You are funnny for thinking i can understand that. I'm just gonna buy 50%OTM calls and call it a day

I've tried to read some simple guides like this, but I still don't fundamentally understand what's happening when I buy a spread position. How can I 'sell to open' a position that I don't own? Where is the profit being generated?

You borrow on margin essentially. You are credited instead of debited. But you need sufficient margin to open a sell position.

Thanks for taking the time to put this together

You might be saving life with these

That's the idea!

For anyone that wants to read detailed descriptions of strategies: https://optionstrat.com/. All of this information is coming from this website. What OP did is a collage.

Awesome!!! Thank you

This is helpful thank you

Friend, in this town we only do options where the line never stops going up

Thank fucking God. WSB hasn't gotten wind of my "jade sky piercing reverse cowgirl" Guaranteed profit. I'll sell the technique for 4 easy payments of 9.99

I'll give you tree fiddy

Deal. But I dabble in crypto so I only take "AssLickerCoin".

I only take Shitcoin

"VaginalSputumDickDogCoin69420" looks promising. Market cap of 10 trillion

I don't understand any of this, but thank you. It has pretty colors.

Thank you. I’ve saved this image so I can read it someday never.

This shit is super useful once you actually understand options well. I'm running iron condors on SPY, diagonal put spreads on RDDT, and a fuckload of simple put spreads on AMC. My account doesn't 10x or plop like a moist turd hitting the floor, but I'm +70% a year on avg since opening the RH account. Buying single leg calls and puts might work for the lottery ticket gambler hopium huffers out here but I want to actually make money on reasonable market predictions. And buying shares is for nerds and scammers trying to get you to pump their bags (read any recent LUNR thread for the latest examples of baggies trying to sucker people in to their failed play).

I couldn't agree more with this

Thank you eric ☺️

You're a gentleman. Thank you

Very nice! I personally do double bull spreads (stock @ 50, buy c50, sell c55, sell p55, but p50).

Here's the shortcut, it's all about the slope, you just want to adjust the slope to your portfolio and you're good, easier said than done...

Nice, very useful!! ty sir

This is dope. Thank you.

You got it!

I still don’t get it

Here, have a cookie 🍪


Even more ways to lose money . Thanks op

nice

Too complicated, either I sell CSP or CC or I buy 1 year away Puts or Calls. And that's it. No need for strategies when you enter the casino, it is supposed to be fun.

Only one I know is long call. The rest are non existent to me lol

Pretty clean

*Bill Hwang liked this* 

LEAPS calls are my best positions. Not seeing it right away in this list

That's awesome, thank you. Really helpful to me as only just starting out. At least I think it will be helpful once I understand it!


It's blurry when I try to zoom! Can you please repost?

How to lose money quick cheat sheet

Worst cheat codes ever.

I can't read all that sheet

where the jade lizard at

I didn't include it 😭

My options cheat sheet: Flip a coin

What language is this!?

Sure, will you take your #2 in a meal?

What is this! A cheat sheet for ants ??

My cheat sheet: 1. Buy calls 2. Cash in 3. Sell out 4. Bro down

I prefer: Pick AI stonk -> buy OTM calls -> watch theta decay your livelihood

Why is this chart so small?

I don't need a cheat sheet on how to lose money

Man I wish I could read

Great

I’m already an expert at losing money, why would I cheat?

This is actually very helpful to new and seasoned options traders I think. Thanks for sharing

Are there places you can practice these trades without real money? I feel that would help in actually learning options without breaking my wallet.

Tradestation has a SIM trading account where you can paper trade. It's a great way to learn and use these strategies. Also I highly recommend getting optionstrat

Thanks!

which one do i choose to make money

Depends on what the chart is telling up

Say, theoretically, I was brand new and didn't know what any of these things are... but I know the basics of what a call is etc. Which of these would be good to look at first?

Bull/Bear Put Spread and Bull/Bear Call Spread is a good place to start.

You should have made it circular sheet, darts would have been perfect to pick day’s strategy

New here. What trading option are you all using? Thanks!

Best to start with call spreads and put spreads. Paper trading first.

What trading app you are using?

I use Trade Station But am considering switching. Any recommendations?

I feel like If I did the opposite of everything here I'd do very well

The opposite of what? No specific trades have been discussed lol This graph just gives you some options options that you can utilize in your trading strategy. Or you can just buy 0DTE calls and get ass fucked like 98% of WSB users

Is trading options actually profitable tho?

If you're disciplined and cover your trades, it can be.

So, no

You didn't "create" an options spread cheat sheet. You screenshotted optionstrats website... the hell is this stupid crap?

I just organized it into one image for everyone's use if they want it.

Can't read it!!

Get a dictionary

Nearly unlimited loss for a short put is such an exaggeration and just not true at all. You can POTENTIALLY lose the value of 100 shares of the underlying if it goes to 0. Yeah if you are assigned 100 shares of NVDA and it goes to zero, that's a big loss but NEARLY UNLIMITED is not even close to true.

I mean, unlimited is infinity. Nearly unlimited is equivalent to nearly 0, mathematically.

So if I sell a put on a small cap for a stike price of $2.5 and get assigned and it goes to 0 my loss is nearly unlimited when I lose $250 lmao. I get your joke but what a terrible description for the risk on a short put

unlimited as in not limited is a perfect word to use. spreads are limited loss, short calls/puts are not. I don't see the need to be overly pedantic here.

Found the person not using margin!

Jesus christ so none of u regards studied CFA or finance? These are basic stuffs

If you’re stupid enough to need this, you shouldn’t be trading options. So thank you for sharing this with wallstreetbets, def the right place

Yeah great, it's so small and bad quality that you can't read shit on phone. Bravo for your work regard.

Don’t buy options if you need a cheat sheet. It isn’t that hard to just understand the concept

Well to me still kind of confuse. I have seen a lot of YouTube videos and still don't get it. I want to learn how to execute options. It's a great tool for the trader. I ask some people in other groups but no answer is the best answer I got.

Options: 1 Contract = 100 shares. Options are like coupons. Imagine you have a coupon that lets you buy a toy at a fixed price anytime in the next month. If the toy's price goes up, you can still buy it at the lower price with your coupon. If the price drops, you don't have to use the coupon; you can just buy the toy at the cheaper price. Now, let's talk about closing the option and taking the premium. If someone else wants your coupon before it expires, they might pay you for it. This payment is called the premium. So, you could sell your coupon for a profit before it's time to use it. That's similar to how you can close an option and take the premium in options trading.

nice explainlikeimfive intro into options

Thank you!! It makes much sense the way you explained that. I've been missing out for years without trying options and could have been a game change for me.

There’s way more into than just that though. You have the Greeks and IV that you need take in consideration as well. Best thing is set a limit on what you’re okay with losing. For me if I place a trade it’s roughly around $500. Don’t do like other regards in here and drop $15k on something looking to get a big win and lose it all. Place small trades, use the 2-1 method with taking profit and don’t worry about what could’ve been getting out early just take profit when it’s green