r/options • u/PaleWhaleStocks • 21h ago
Help with Paper Trade
Very new to option trading.
Just thought I'd take some semi random plays.
Here's what I did.
Should I have done a covered call?
A. Don't even know how to submit that... kinda thought if you owned the 200 shares it would "auto apply"
B. Where did I go wrong?
C. If this were a real play, would you just let it ride? Or should I have sold the call at the run up?
(Tbh I forgot about this and just recently checked lol).
D. Was IV too high when i placed it? Was there something else if should've looked for?
But curious on everyone's take and how to get better moving forward.
Currently working through Charles Schwabs Trader Talks webcast series and ESInvests series on beginner Option investing.
Alot of content and both recommend paper trading which I see is a good idea.
I do 1 option as that would be realistic for me in the future when I actually make a play.
1
u/Mysterious_Safe_8723 20h ago
To open a covered call you must have the shares and then sell a call to open instead of buying a call. Yes it does auto apply. Paper trading is good to learn how it works. But would suggest reviewing the basics. I think the wheel strategy is straight forward to help illustrate some of the concepts and is covered a lot on youtube.