Trade Details

Loss $72,811

Title: What it looks like if you were 170% invested in the Discovery Channel last week

Ticker: DISCA

In my brilliance, I saw high premiums on DISCA calls and sold a shit ton of CC's on margin the last two weeks. Completely undiversified. In my defense, I didn't think someone else was gonna try to do something similar except with billions of dollars and also on 5x margin, making the stock drop 50% on no news. Average share cost $76.

Past Week

Steps up elevator down.

I'm still holding the stock. At this price its nutty cheap.

Not margin called yet. Not selling unless I get liquidated.

Posted this DD in theta gang and convinced myself to buy :).

Positions:

23 covered calls on DISCA. Expiring May 21, strike price 67.5. Already rolled them down once after collecting 100% of the premium on the first ones I sold.

https://preview.redd.it/oozsq7mrlzp61.png?width=785&format=png&auto=webp&s=1827471b41306294733862520ea654fbfa03b005

https://preview.redd.it/309ap3utlzp61.png?width=806&format=png&auto=webp&s=facab8710b483410f796840a43992bd04c90b171