Oddity Covered Calls Mistake

Scott Galloway shares a story about a costly investment mistake with Oddity stock.

"I'm in Oddity which is this amazing AI beauty company. I own a decent amount of shares and I thought I need to generate some income here. I was bored so I sold covered calls way out of the money to try and collect rent. So stock's trading at around 40, I sell calls at 50 to generate some income, meaning that as long as it doesn't go above 50 in the next month, I'm fine.

I hadn't sold covered calls in a long time. The next day it announced earnings and the stock went to 61. So I've literally left like $2,000,000 on the table selling covered calls trying to generate income off this thing. I should have been smarter - I should have done a little bit of research, known that earnings were coming up, and known this is a great company and they're gonna do really well.

So in the last week I've literally puked a million dollars for no fucking reason because I didn't do due diligence."