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@Yoona - are these your IC short strikes for Feb 9th? With a 30 wide long strike, that's only about $0.15 in premium per contract. With IVP at 2, is it better to hold off on ICs until volatility and premiums increase? Seems like the risk ($2985) / reward ($15) ratio is out of whack...

When you say 1-2 DTE ICs, does that mean you're selling them on Wed/Thur for a Fri expiration? Any rule of thumb on how far OTM to go on both sides?

I like to tell myself that sometimes the best trade is no trade.

*slaps forehead* - I thought the market was closing at 2pm ET.

I'm trying to STC a June2024 300C on ToS, but can't find a buyer. I have a limit order that's 50 cents under the bid price ($1 under the mid point) but no takers. I don't really want to enter a market order and not know in advance what price I'm going to get, but I don't really want to go...

All eyes (and ears) on JPow at 2:30...

I wrote one today for $11 when SP was 253. Also wrote a Jan'25 600 for $15 when SP was at 257.

The record is 11 days in a row, which we matched on Friday. A green day today would be a new record.

are the -c235 for this friday expiration?

I also have a bunch of -c195 and -c200 expiring over the next couple of weeks that are hemorrhaging pretty badly, but I still feel like we're very oversold at this level and will have to revert at some point. Current roll of a -c200/Jun16 to a -c200/Jun23 is still offering over a dollar in...

so +220/-230/+240 for Jun9 expiration? That's $1.23 debit pre-market. Could pay for it with a -200P for same expiration.

For those of us stuck with ITM CCs after the latest melt-up, would you still recommend a butterfly call strategy as a hedge against further upside? If so, any recommendations for which strikes to select at the current level?

Curious about your strategy here, as I also have some ITM short puts for 2024/2025 expiration. How near term would you consider rolling to? Reduce your strikes or keep them where they are?

I sold a 330C/Jan2024 for $9 credit today when we breached $208, and immediately entered a limit BTC for $8 on an inevitable pullback. Thinking it's less risky to try to make a quick $100 gain at a more distant expiration than to play with fire selling weeklies in this environment.

I threw in the towel for this week. Rolled to -205C/Jun9 for $1.15 credit.

My -200C hopes your money is right :)

Just for fun, I asked ChatGPT 4.0 for a recommendation on how to manage a -185C expiring 5/26. Here's the response: Given that Tesla's stock price closed at $184.47, very close to your covered call strike price of $185, it's a tricky situation as minor price fluctuations tomorrow could cause...

Yoona still holding her ICs for this week...

I'm not unhappy with the 185 dance either. I followed Yoona into an iron condor pre-earnings play yesterday at +155P/-165P -205C/+215C. Working out nicely so far. I plan on collecting the theta decay today and tomorrow, and then get out before the close tomorrow.

Yoona killing it over on the twittersphere....

Analyst consensus is 421K. Troy is now higher than consensus.

I closed a couple -210C/Mar31 yesterday for 90% profit, thinking FOMO may kick in leading up to P&D. On the bounce this morning, opened a -202.5C/Mar31 for $1.

Hindenburg has proven they can move the markets. They killed NKLA.

Truth :)

Yes, rather substantial losses unfortunately. After the option was assigned, I kept waiting for TDA to list the sale of the 100 shares in the "unsettled closed positions" category so I could assign specific tax lots as close to the SP of 160, or slightly less, knowing that I would not be able...

What's your understanding of the timeout period for wash sales? I'm also in timeout after getting assigned on a 160C on Feb 14th. When I spoke with TDA, they said that the 26 shares I purchased in the 30 days prior to Feb 14th would count against the 100 shares assigned for wash sale...

Did you STO or BTO?

Curious - how do you manage these if you're approaching max profit? Do you let all position expire on 2/24, or do you close the positions before expiration?

Reviewing my trading journal notes and saw that on the first day of trading last year after announcing record Q4 P&D numbers, TSLA closed up 13.5% to 1199 (pre-split). On the first day of trading this year after another record Q4 P&D, TSLA closed down 12.2% to 108. The sentiment seems to...

I opened a -c140 yesterday when SP was 112; opened a -c147 and -c150 this morning with SP in the low 120s - all for 1/6 expiration. Happy to roll if we get strong P&D numbers.

I usually start at the mid and if it doesn't fill quickly, I'll ratchet it down a few pennies until it fills.

Can you give an example of the mechanics on this? When you get assigned the Jan2025 and STO a new contract, is it for the same Jan2025 expiration? How do you decide how much to improve the strike price? I'm approaching dangerously low extrinsic value on a number of march, april, and...

Just tried to BTC a Dec 30 135P in ToS to free up net liquidity. Had a GTC limit I entered earlier, but when I tried to replace it with the current market price, it wouldn't execute. Called TDA and they said Citadel is having problems executing options trades. Nothing TDA can do until...

Hmm, good thing I saw this. I thought I sold a 200c for $1.03 earlier this morning, but I actually bought it. Closed it out for $1.22, and turned around and sold it for the same price. Double-checked this time to make sure I sold it :)

Does anyone know why the strike price range for 1/13 expiration are not as wide as 1/6 or 1/20 expiration? On ToS, the highest call strike for 1/13 is 255, and the lowest strike is 115. 1/6 expirations show strikes as high as 350 and as low as 100.

If you really don't want to lose the shares, I've always followed the advice that it's better to BTC for pennies right before expiration rather than take the risk of after hours assignment...

:mad:

Rolled a couple of 12/2 -c195s this morning when it looked like I was going to get steamrolled. Moved them out a week and up to 200 for a decent credit, but perhaps I was a bit premature based on the SP action today. Now we'll probably close at 194.99 tomorrow before gapping up to 220 early...

I also have several -195c expiring this friday. I'll roll tomorrow or friday if we see continued strength, but I'm curious about your DITM leaps strategy. My limited foray into buying TSLA leaps has been nothing short of disastrous. I bought 6x ATM Jan 2023 366.67 (split-adjusted) last...

Assume you meant safe for Dec 9?

Has Tesla said when they plan on releasing Q4 P&D numbers? I assume it's the first week of January, which would necessitate being careful with Jan 6 expirations.

The same 245 Jan 20 2023 put? Will that make you whole from selling the 400 assigned shares at a loss?

Hi, I'm Treb, and I'm a TSLA bagholder :)

Given all of the early short put assignments that are being reported here, I set up an area in my google sheets trade journal to automatically show me how much intrinsic value and extrinsic value I have for each open short put position. Intrinsic value is 0 when the strikes are OTM so I don't...

I think he's suggesting to buy the shares at ~$183, and sell the Jan 23 call for ~$43. You'll lose $33 on the sale of the shares if they're called away,, but net $10 profit on the call premium.

I sold a -p185 11/18 yesterday to leg into strangle offsetting my -c200 for the same expiration. My plan was to use the put premium to help pay for a debit roll on the call side if necessary. An hour later, we had the market sell-off and now I'm debating whether to roll the put or take...

I have -c200, -c210, -c215, and -c220 expiring this week. To be honest, it's a nice change of pace to have to manage my short calls again instead of my short puts :)

Really appreciating your analysis here. What duration do you typically sell CCs at - a week out vs a month out? Just curious how long you give your strategies to play out...

I'll echo this. I had -p300 for Apr 2023 that had less than a dollar of extrinsic at the close yesterday. I was anticipating getting assigned, but was able to roll this morning to Sep 2023 -p260 by adding a contract. Bought myself $13 more of extrinsic and hopefully time to recover from...

CPI announcement is on Thursday before the market opens.