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Recent content by UltradoomY

  1. UltradoomY

    Applying options strategy 'the wheel' to TSLA

    I totally agree - last week on Monday we went down to $709...... and then bounced back hard This week is probably much the same, I am holding strong with 09/24 -$695/+$675 BPS and have no plans of adjusting until later in the week if needed.
  2. UltradoomY

    Applying options strategy 'the wheel' to TSLA

    If you want to roll for a credit - do it before the mid point of the spread - so in your example that would be $698 After that you will be paying to roll. Or you can separate it into a sold put and a bought put and just roll the sold leg to next week and keep the profitable bought put. or a...
  3. UltradoomY

    Applying options strategy 'the wheel' to TSLA

    I favor the 2 weeks out method - and close on Monday or Tuesday of expiration week. Way more premium but you have to let it burn the theta.
  4. UltradoomY

    Wiki Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

    Well, I am normally quarantined to the Wheel thread but figured I would pop in here. Just spent the morning at the Tesla delivery center in Tampa, FL with a friend who was picking up his new LR Y (ordered in first week of May) Absolutely perfect car, I like some of the improvements they have...
  5. UltradoomY

    What should TSLA be worth?

    Always a fun way to look at why Tesla's valuation is so high is to look at other markets. Take the difference in Macy's and Dollar General - Macy's is huge and pulls in giant revenues Dollar General is puny in comparison and revenue is way behind as well. Why is that??? It's because Dollar...
  6. UltradoomY

    Applying options strategy 'the wheel' to TSLA

    Closed the put side of my 09/17 Condor this morning when we were at $750 for $0.20 each 98% profit - closed the call side yesterday at 95% profit. Now that I am naked for this week -looking to open my next trade for 10/01 expiration. -$690 / +$650 -$820 / + $860 $5.80 each - waiting on a fill...
  7. UltradoomY

    Applying options strategy 'the wheel' to TSLA

    I had a bid in for 5 of the $630's for $250 each that never filled - cancelled just a few minutes ago - going to wait for the rest of the strikes to open up - would rather have the $500's
  8. UltradoomY

    Applying options strategy 'the wheel' to TSLA

    I also closed out the call side of my IC's for both this week and next for 95% on that side. Still sitting with - 09/17 - -$650 / +$630 P 09/24 - -$695 / +$675 P Will be looking to sell the call sides again if we go back green at some point this week.
  9. UltradoomY

    Applying options strategy 'the wheel' to TSLA

    Usually it is centered around the order entry on level 2 of market depth. If someone wants to sell say 500,000 shares - the buyers will no doubt be broken up into many many smaller orders - thus bearish. on the other side if someone wants to buy 500,000 shares and enters a buy order for that it...
  10. UltradoomY

    Applying options strategy 'the wheel' to TSLA

    I mentioned a little bit upthread that IV spiked up to between 74 and 84 on the puts for next week - but the calls are still in the IV 28 area. Really weird and I don't know why but it just be like that.
  11. UltradoomY

    Applying options strategy 'the wheel' to TSLA

    For any of my Iron Condors - I like to be really wide from the strike - I opened these last week when we were $25 lower. The call side is $785/$805 For the week of 09/24 I have $820/$840 and paired with $695/$675 Let's me sleep better at night.
  12. UltradoomY

    Applying options strategy 'the wheel' to TSLA

    Just an FYI - the IV on the Put side of my IC for next week has ripped up to 76 and 82 respectively. The strikes are -$650 / +$630 Looking at selling an additional BPS to compliment the IC with this IV spike.
  13. UltradoomY

    Applying options strategy 'the wheel' to TSLA

    Agreed - just forgot about them. The founders of TOS left and started Tasty Trade which has great visuals.
  14. UltradoomY

    Applying options strategy 'the wheel' to TSLA

    I think for functionality regarding spreads - here is what I understand from talking to multiple parties - #1. IBKR (Interactive Brokers) is the best for complex strategies and visualizing margin and probability on one screen. #2. is a tie between Schwab Street Smart Edge and Fidelity (I...
  15. UltradoomY

    Applying options strategy 'the wheel' to TSLA

    Still have my IC sold last week for 09/17 expiration -$650 / +$630 P -$785 / +$805 C Holding tight but now looking for my next IC for the following week expiration. Eyeing the -$720 / +$695 P -$815 / +$840 For $5.22 each Gives plenty of room and time for it to burn. Just an fyi..

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