They must be pre-written or he is getting someone else to do it. There’s some truth in his voyage for lunar research.

Actually, scratch my last sentence, the call buyer would still exercise when the stock reaches at or above $10, meaning the profit is indeed capped at 66%.

Actually, since the trade he’s describing is a covered call, his theoretical profit would only be 66% (not 285%), since the profit of a covered call is capped at the strike price of $10.
Assuming he meant he bought 100 shares of NCLH, his profit on the shares would be $13 when it reaches the price of $10, plus the $638 of the short option premium, therefore only 66% ($648/$987 =66%).
Assuming the option buyer would only exercise if the stock reaches > $16.38 (to break even on their call debit), Tynan’s profit could in practice go up to 130% = [($16.38-$9.87)*100+$638]/$987

In this particular case I would have bet more if I could have, but didn’t have cash available for it. I probably would have bet 1/3 of net worth on it if I could have, though it’s also hard to really say in retrospect. In reality I think I bet less than 10%.

If I can ask: on a relative/percentage basis, how did this “all in” trade compare to your total assets (less debt). I think contextualizing this trade a bit for the audience might help and I’m certainly curious. While I’m sure it was a big bet, it’s worth noting whether or not you ‘risked the farm’ so to speak.

Thanks as always dude!

Specifically: https://algorix.top/weeklyposting/#comment-4525