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Amazing Did you manage to close your BPS 900/800 before this crazy drop?

This is absolutely crazy to see SP dropped like this... Haven't sold any BPS BCS CC since 2022 because I was trying to see if there's other ways to generate relatively stable income instead....

Same here, clear out all my BPS (-800/+600, 12/31 expiry), should be a super safe position & probably leave a lot of money on the table, but after all the crazy move this week, and thus prefer to evaluate again early next week.

I was planning to BTC all -800/+600 (expiry 12/31) at open immediately yesterday but it only achieve around 60% profit so I waited until SP to get to $1000, but then it started to drop and so I still have this open. Then I thought I was smart to open more BPS -810/+710 (also expiry 12/31) when...

I haven't sold any BPS until yesterday because I feel uncomfortable about the FOMC this week. Yesterday I couldn't wait and decided to sell some BPS. I was thinking about 2 options: sell the -850/+650 (expiry this week) for around $3-$3.5, or -800/+600 (expiry 12/31) for $9-$10. Eventually I...

IV is quite low at the moment, I guess today it would just range bound so will wait to sell BPS later this week if there's any chance of IV pop after 12/9. If the drop previously already price-in the nothing burger of 12/9, then will just go ahead to sell BPS. Likely will just go for -850/+650...

Did you open more BPS yesterday during the dip as well? I closed some -850/+650 BPS immediately during open (since SP already broke below 1000 during pre-market and I think it would continue to drop), and opened the same BPS again during the dip (not dare to open for 12/17 because its still have...

I always have this question in mind as well, and wonder if anyone has compared the result. In the past I only close BPS with <0.1 then wait for a dip to open BPS, later on I started closing BPS when achieving 80-90% profit zone and then wait for a dip to open BPS.

Amazing Your original 35 X p1000 you sold yesterday for $32, was the expiry for 12/10 or 12/17?

Close out all my BPS for 85-90% profit, likely can close with better price, but would prefer closing it without any potential drama this week. Will open BPS for next week if there is a serious drop this week Likely 1050 today would be a resistance zone for sometimes today, but will just let it...

I've carried a 750cc for a long time, and decided to just buy it back as it has dragged me forever so decide to close it during the dip this morning. Not dare to open more BPS because I already open more than I should open last week (before all these drop) and don't wanna take more risk.

Yoona, around what share price when you opened your BPS & how you decide 1060 was a strong support 2 weeks ago? 2 weeks ago the share price dropped to 980 and then up gradually that week. Really amazed about your work and how you save that BCS during then hertz thing

Set the limit order to open more -890/+700 today at $10, turn out maximum was only around $9.5, didn't get fill again, well, always an interesting mind game.

Really amazing, how you cope with the pressure of seeing the price fluctuation around in the past 2 weeks?

Yesterday I set my BPS 50% @ -850/+650 & 50% @ -890/+700 for 12/10 again because it couldn't filled in previous day. Eventually -890/+700 got filled at 5.5 & 6.5, while -850/+650 got filled at 3.5 & 4.5

Since I haven't sold BPS for next week yet, I wish Elon does some selling so I can do some BPS today :)

I have been thinking more about your strategy lately, instead of opening a safer BPS and close it on 80-90% profit, I should open a more aggressive BPS and close it on around 50-60% profit.

I was expecting Elon would sell some shares yesterday so I have set my 12/10 BPS order for -850/+650 & -890/+700 for 12/3. I waited very patiently and set the limit order for $7 and $5 based on estimation from optionsprofitcalculator.com if SP could drop to around $1100. When the SP was around...

Does the 12/10 IV drop a lot since opening?

Originally didn't plan to do anything this week, but finally sold a few BPS -850/+650 for $6 premium,

Obviously all uncertainty gets clear this morning, but that means there's no way for me to open BPS for 12/3 since premium for BPS -900/+700 is no longer attractive with 2 weeks as expiration. So I would just sit back and relax this week until anything change.

I haven't opened any BPS / CC / BCS this week yet. Last friday I was thinking to open a BPS for 12/3 as everyone suggested, esp. it's a short week this week, but at that time I was worried about 3 things: 1) The FED decision of Powell, 2) The uncertainty about Baiden / Kamala, 3) Anything that...

Wow 30% in one day, that's yummy. Around what SP yesterday when you opened the BPS -900/700?

Maybe shorts will take a break during thanksgiving week? Really missed the 2 months period (before the crazy >900 run), the premium were so attractive even selling far OTM BPS, and could sell a normal BCS without worrying too much about the crazy jump

Yes will also do 200 spread. Did you open all the BPS already? Or save some bullet and wait to sell more next week as well?

Planning to open some CC, BPS or BCS for next week, but seems premium was so low (even BPS -900/+700 only have around $1.3), so undecided yet Next week is thanksgiving week, I assume market would be less fluctuate? Since premium is low next week and 12/3 seems more attractive, would it make...

I wish this news come during open so I don't have to do anything during open and relax 😅😅

Wondering in the TSLA history, was there any case that there is a 10% jump from Wednesday close to Friday close? Cause usually seems the crazy jump would be during Mon-Wed (maybe because of the call flow?)

Was too nervous watching the SP in pre-market. Immediately at open, decided to take a $1.7 debit to close all my -1200/+1400 BCS (originally got an extra $1.5 premium to roll down from -1300/+1500 on Tues/Wed), so pretty much didn't earn anything by this rolling at the end. With the price...

The pre-market is getting crazy, now I am getting worried about my BCS -1200/1400 and 1200cc

roll up my 1150cc to 1200cc for the same expiry this week, would rather earn a tiny premium instead of worrying tomorrow that would jump to 1150. So remaining cc are all 1200cc, and BCS is -1200/1400 for this week. Haven't opened any cc/BCS/BPS for next week yet, probably will wait till next...

Seems Elon really like to tweet during weekend and makes the SP fluctuate even more...

Yes same 11/19 expiry. Because my plan is to BTC a 1200cc that I opened few days ago at a lower cost, and STO another 1200cc at a higher premium. I have free up some cc that I can STO already, so it won't matter if the BTC cannot be filled. Didn't know it won't let me do it even I set it as two...

I tried to set a limit order of BTC a cc of 1200, while also setting a limit order of STO a cc of 1200, but seems IBKR won't let me do it both. Does anyone experience before?

Close my BPS for this week to free up margin although it should be super safe, only open a few -780/580 BPS for next week Do 1/3 1200cc ($2.5) for this week and 2/3 1200cc ($10-$14) for next week, do some -1300/1500 BCS ($4) for next week. This has been a weird action yesterday and today, and...

I have some BPS -780/+680 and -750/+650 for this week, not sure if I should just roll to next week for same/lower strike to take some credit while IV is high at the moment? After the news of Elon's selling, I was thinking Monday would be a blood bath and if luckily not, I would sell my shares...

What do you guys think about Kimbal Musk's action as he managed to sell shares last friday? Seems every time he managed to sell at the top and correction started since then.

When you set limit orders, do you mean you set an exact amount of premium you want to achieve? And if so, how do you decide what premium you want to aim for? Trying to learn from everyone of you with different types of strategy. By the way, you mentioned you didn't intend to open a BPS yet for...

Amazing. Wondering, what's your calculation behind to choose 1304-1330 as your short leg on Wed/Thurs? Esp Thurs, the SP at that time was already close to 1250 at that time

I understand the BPS part since likely the price next monday will be higher, but why BCS now? If we assume next Monday SP will be higher (eg. 1300), then it would get a higher premium to open next week (assuming IV is same as today)

I am thinking something similar, in general, would it be better to sell super OTM BPS / BCS (eg. around 30-40% OTM from each side) and tighten the range next week after we see a better direction?

I am wondering, seems most of you have already open the BCS already, is there any reason why open it now instead of waiting till next Monday?

I am not sure when I can be less conservative, I only do BPS -780/+680 & -750/+650 for around $1-$1.5 premium.

For those familiar with technical indicator, RSI (14) is showing like 93.3 as of today and it seems RSI has never been that extremely high before in the past few years, wondering what you guys think?

I decided to try both, on a 2:1 ratio (ie. 2 X -720/+620 + 1 X -780/+680 combination), but not sure which way makes more sense though if things get worse.....

Have a question about the spread. Originally I am doing BPS -720/+620 for $1 premium, and I also find that BPS -780/+580 has a premium of $2. Since you all have been suggesting a wider spread for safety, would it be better to do 2 X -720/+620 or 1 X -780/+680 since the premium would also be $2?

What kind of BPS you have in mind for next week? I have been super conservative and only brave enough to do -720/+620 with $1 premium, sigh...

I am still waiting to sell -1250/1350....but seems the price is really low like .4 at max....The premium was around $1 at open, but I couldn't close my -1200/1300 so afraid to open at that time

Sold some BPS -720/+620 @ 1 for next week...At this speed, I guess it takes me at least 6 months to recover my BCS loss on Tues.... Will wait to sell BCS next Mon or Tues, but likely will be even more conservative.

I am pretty much stressed no matter how's price action is now... I still have all cc at 1200, I will probably let it go at this price if they are really crazy this week.