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I had 11/19 BPS 1130/1090 that I closed today for a loss. I was about to throw a few thousand more at it to roll to 11/26 but I had to take the "sure" 1050 jump up today vs. potential down days from another dramatic weekend. A part of me wanted to close 1/3 out and roll 2/3 out to give myself...

Might be related to Biden signing the Infrastructure bill into law. Saw a spike in the indices too.

Phew, was just sending emails when I chanced upon that spike. Took advantage and rolled some ITM BPS for a debit, 11/19 to 11/26 and 12/3. Still have another 11/19 ITM BPS and will look to roll it up on the next opportunity this week. I'm already so close to max loss anyway, that all I have...

How long-term do you go? I got burned by CCs a few months ago and stopped. Feeling more comfortable selling puts.

Your examples are helpful here. I may sell a put the week of expiration to stay away from any possible negative weekend news. I guess prevention/buffer is the best way I can plan for a bad scenario so that I can close it out early. A balance of getting back shares and income to slowly make up...

I've been re-evaluating what my strategy is now. After being hit with the insane 10+% drop, I'd want to be very conservative with BPS too. But the buffer would have to be 20+% and I'd need to close those or manage them. I'm now leaning more towards the aggressive cash-secured puts where you'd...

Now I'm thinking, if share price goes flat or down, I'll just buy to close my ITM BPS the week they expire before they all get exercised. With the cash I have, I can sell puts to make things back. Thinking of selling say, out to February or during a time when share price might go up during a...

By my calculations, if I sell 1 put LEAP, I should be able to close everything out with a small loss, much less than BTC everything now. I have 11/19 and 11/26 BPS, so I am thinking Monday/Tuesday close my 11/19 and sell that 1 Leap. Then wait to see what happens week of 11/26 praying the...

Thank you for the idea!! I see that and I'll take what I can get. Psychologically, I may feel better just closing everything out using the LEAP premium.

I appreciate it! For position 2) that seems like a good bet for me. Curious why roll short put to Jan 24 instead of closer to say Jan 21? Or is the strategy to roll as little # of short legs as possible, to get so much premium that I'd have enough to close other BPS positions. Also, realizing...

Absolutely thank you! There's still next week. I HOPE it spikes up to 1150 and I will be partying so hard!! I'm just...so close!! Hoping max pain comes through for 1110! Then I may roll my 11/19 out further to buy myself more time. Again, like you said it's hard to know what to do. Just...

Thank you so much for explaining! I have ITM BPS expiring 11/19. I am worried about....anything at this point. I may look Forgot to mention my current situation: BPS: 11/19 4x: 1135/1110 7x: 1130/1090 5x: 1135/1125 11/26: 4x: 1050/1080 20 x : 1125/1100 I don't if this changes things. As...

YESSS!! Thank you so much for the details!! You have addressed all the variables I've been racking my brain over. A lot of my stress comes from whether I should roll for next week, 2 weeks, 4 weeks, etc. Then, it's the WHEN of rolling. Right now, my ITM BPS are hard to salvage at this share...

Oh I see. This would be different if the SP is going against you, then better to keep ahead of the SP. Gotcha. In my situation, I am hoping for the SP to rise up, just unsure which week that may be. So I have some ITM BPS expiring 11/19 and some 11/26 that I rolled yesterday when we touched...

So if I'm understanding it, rolling a ITM BPS may be best to do later in the week, like Thursday, rather than a Tuesday?

I'm with you there. I have been waking up every other hour with my heart racing. In some ways, I'm not sure options are the way for me to go. Buying and holding shares have worked for me, with less stress, so I am reconsidering my approach. Speaking for myself of course and you do you. Just...

Yes!! Thank you so much! It makes a lot of sense and I'm happy where my placements are. Now that Elon has sold his shares, looks like the stock is roaring back up! It's true, I panicked and made some of the worst possible moves in the moment, such as BTC my BPS at the bottom, instead of...

With ITM BPS, I've rolled them to 11/19 and 11/26. This is my first time doing this so apologize for the ignorance. Appreciate any insights as I've been in the fight-flight mode for the past few days. I'm thinking about the goal with ITM BPS. I'm rolling to "buy" time, so that the share...

Thank you! I waited 30 minutes to roll my 20 x 11/19 ITM BPS 1090/1115 and paid for it. Rolled it up to 11/26 1125/1100 for $600 to buy time to avoid a huge loss. I'll pay for the time.

Does anybody see the benefit of rolling 11/19 ITM BPS to 11/26 ITM BPS? I am aiming to have the opportunity to do this at no cost. Just not sure if it makes sense to do it now or next week. I imagine it would be best to do it now, under the assumption we have a huge spike up and the rest of...

I BTC my ITM put spreads expiring this Friday in a panic right when we dropped to 900s. Terrible timing as that would've been OTM by now. We're now up which I'm very grateful for, as I was able to roll up another 11/12 put spread to next week. Still ITM BPS for 11/19 but I'm able to roll for...

Put spread...limit order will be wise. I have 11/19 ITm so I guess I'll wait for what next week brings. My 11/12 ITM BPS...I can 1)try to hold on to roll them Thursday, 2) BTC for loss, 3) Max loss. This was hard... but I will live another day. I may just invest in a QQQ tracking index after...

Thank you for explaining the risk of early assignment and thus max loss... it makes it hard for me to keep rolling...Maybe I Buy To Close at a loss. If I BTC now rather than hit max loss I'll "save about 20%. Idk what to do here other than put in a market order, though I know I will get...

This might be idiotic. I'm trying to roll these out in the future, I can give the share price an opportunity to bounce back for Q4 then maybe I can salvage this. I just need them to expire worthless. My rationale is that they just go to max loss anyway, whether it's this week vs next year...

Thank you for the suggestion and kind words. I didn't consider the ROTH IRA idea and will look into it.

Thank you. I appreciate the support. In some ways, I'm making amends with the max loss aspect and doing cash-covered puts. I guess I'm learning the hard way and earned a stripe in this game. It is about 33%

Sold almost all shares at...the bottom. Both in retirement, then my brokerage. My OTM BPS became ITM....I'm embarrassed to say that I initially took the suggestions of the veterans here and was OTM @960/810 last week and decided to roll them up into the 1100s Friday. I woke up and saw my...

I'll have to adopt that nimbleness. In these volatile times, deploying two plays in a week may be my method. I was thinking of closing my BPS as it pancaked out. Looks like I'll have to cross my fingers for tomorrow and later this week.

In the last 30 minutes, we drop from 1180 to 1162. Guess what Max Pain is this week...1160!! Don't know if 1160 is the magnet as MMs and Shorts aren't always going to conclude on the same number. I imagine Shorts are smelling blood and may continue this game tomorrow. Pullback but not a...

Guess what the max pain is this week... 1160!!! LOL Explains that drop from 1180 to 1162 in the last 30 mins. MMs are back in the house, at least today. Still 4 trading days in the week to change things around..

I used to look to TL.0 as a "view into the future", but then stopped when I saw how New York would grab the reins and drive the stock in whichever direction it pleased when it was N.Y.'s turn. The average volume for Berlin is 77,666. The average volume in U.S. is about 21.5 million. That's a...

Lol, yup, institutional buyers have been driving this stock up. Friday's sideways was a show of strength. A few weeks ago, Institutions out-bought retail by almost 10-1. Tonight, I'm seeing price analyst upgrades from Wedbush to $1800, Jefferies to $1400, and who knows what else will come. I...

Bullish

11/5: Wow! If I can get a 3% return from my BPSs, I'll be so happy! 11/7: Wow! If I can get a 0% return from my BPSs, I'll be so happy! My gut feeling is that Monday will be a red day, but the rest of the week maybe green. People will sell the puts they bought, then buy some calls while TSLA...

Haha! I just bought a kitchen table for more cooking space, without being cheap about it! A lot more fun to shop without serious constraints. I feel pretty comfortable just selling in one go then. I'll be shooting for that high tax rate soon like you!

Looks like the Shorts benefited from the delay in this approval. Imagine that the market would've jumped on this news had it dropped during the trading day.

Your outline of all the reasons why cash works so well is eye-opening! I'm thinking to sell my shares and go to cash after realizing I'm making more $$ per share using BPS than HODLing. I am curious how you structured the sell-off for your taxable account. I imagine selling it off at once is...

Welp, had a feeling I'd be walking into a trap with the stock trading sideways. I got impatient seeing it trade sideways for an hour and decided to roll my BPS to more aggressive positions. Of course, as soon as I did it, the stock started gyrating from a flat 1233 up to 1239, then down to...

Cramer touting TSLA again. Lift-off confirmed!!

Gary Black on Twitter: "JP Morgan estimates most of the stock and option buying that fueled last week’s $TSLA gamma surge was driven by institutions, suggesting strong HF involvement." "Net buying since 10/25 totaled $4.5 billion from institutional investors, far more than the $544 million...

I wonder if your experience with BPS would allow you to generate enough safe and weekly income to cover the loss. It might seem like a big upfront cost now, but over these months, you'd be able to pay it off. Much like a car loan. A small weekly/monthly payment. Then you'll convert your net...

Wow! That extra point about how it affects purchasing power is super helpful! Thank you!

The width is a good safety measure, so I'll definitely incorporate more of these in my positions. Appreciate the help. Thank you! Glad to have found so many ETrade users here.

Anyone using ETrade to roll or close BPS? I am looking to roll or close in the future, but see that I have to roll or close each leg individually. In a margin account or IRA, does this trigger any difficulties such as a margin call when a long leg is rolled before the short? I messaged my rep...

Spending my night crafting some BPS 11/12 strategies using margin. I was too nervous today to do one for next week. But I have a feeling that the FOMC tells the markets what they want to hear. Tomorrow at 7 AM PDT is the big moment. Today I did a BPS 11/5 BPS at 1080/1040, 1000/970...

I may try this approach with leaps. Not having daily worrying seems nice. A part of me likes having premiums up front from selling BPS and puts, though the downside is having to salvage a bad trade,

Indeed, I think I saw a video of him complaining about how TSLA goes up "on nothing" Monday, then today flips over to being an advocate. Wonder if his tune changes based on what he hears from the trading floor, as well as retail sentiment.

Exactly my thinking as well. Looking forward to the coming weeks.

Jim Cramer backing up TSLA today.Why Jim Cramer Thinks It's A Mistake To Sell Tesla On Dip Seeing this reminds me of when Jim came out with his full support of TSLA around December 2019. "I'm a true believer" TSLA was around 80 on 12/9/2019. Then zoomed up to 188 in two months. My vision is...

Trying to sort out profitable routes for BPS in IRA account. It’s helping me figure out what optimal premium count I can shoot for while “beating” the gains I’d get from holding the stock. Example: Using 30k in IRA. Goal: gain from 25 shares < Premiums from 7x BPS (11/5, 1080/1040) 2.66 x 7=...