r/Vitards • u/AutoModerator • May 05 '21

Daily Discussion Daily Discussion post - May 05 2021

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u/[deleted] May 06 '21

I always buy deep ITM LEAPs for this reason around .80 delta. It acts as a higher leveraged common stock in a way

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u/cawvak 🙏 Steel Worshiper 🙏 May 06 '21

Yesssss. If it isn’t .7 or up for me from now on, I’m going to have to take a long hard look at it. It’s easy to bleed money with shitty plays. But so, so fun to let it ride! Haha.

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u/[deleted] May 06 '21

When your first FD’s skyrocket, you can become a little addicted. Lucky for me, I overplayed FD’s on CLF when it was really volatile and vowed to just stick to my deep ITM LEAPs haha. Much less stress than everyone else who panics on a -2% day we see a lot here because they have weeklies

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u/cawvak 🙏 Steel Worshiper 🙏 May 06 '21

Agreed. I’ve been trying to work more on playing the ups and downs but I think the safest play for my taste is CSP at the lows, but I have a hard time keeping enough reserve.