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This is looking very prescient. Just wondering where you got his TA/EWT from? Thanks.

I’m sure someone more knowledgeable me can answer this better, but the idea of writing ATM puts after assignment of short calls is to play “The Wheel”, the original strategy of this thread. Collecting premium is the main focus of it. I don’t believe you technically have multiple short calls...

Just an FYI, this is now a ChargePoint charger. Only one connector works.

https://teslamotorsclub.com/tmc/threads/options-the-wheel-glossary-and-faq.242764/#post-5991656

My strategy for getting out of DITM cc was to “split-roll”. I rolled all but one cc to same expiration one week out to get (small) credit. I used that credit to offset the debit to roll that one cc for higher strike improvement than if I had done them all at once. I also had some remaining ammo...

Consider transferring your IRA to a brokerage that allows for options trading, spreads, and limited margin. You may not end up utilizing these strategies, but at least you’ll have the option (get it? Hah) in the future should you so desire. Our Roth IRAs are at Fidelity. Not financial advice...

Sage advice. Majority of my shares are in retirement accounts that do not offer any margin. I became interested in spreads due to the low capital requirements and my set goals for end of year with this capital in brokerage account. As this account is growing, I've begun to think there would...

What strike was the call exercised? Maybe the buyer of your call exercised the contract at 1150 (though unlikely).

Positions on Friday close: 1. 900cc 11/26. Continuing split/roll from Hertz/gamma. 2. 915cc 11/26. Able to split/roll another contract up. 3. 1140cc 11/26 and 1175cc 11/26. Perhaps one of these will expire OTM and I will have finally rescued an original 900cc. Otherwise, keep on...

We should form a support group.

1105cc rolled to 1175cc 11/26 for small credit. 1100/1150 and 1110/1160 BCS... hurts just typing it out lol. Waited too long, kept missing my opportunities to roll/close for less loss. End of the day, rolled 1/3 of each to 1110/1160 and 1135/1185 for even money as SP was running away from...

1100/1150, 1110/1160, and 1105cc. I will be glued to the ticker, watching the battle for 1100 unfold today. 🍿🥴

While understanding that by replying to this, I am adding to the noise in this thread, I just wanted to say I appreciate these actionable pieces of news, rumor, etc. The info in this thread leads to many concrete decisions that can have large effects on our short/long-term investments, and I...

Positions on Monday open: 1. 990/940 BPS 11/19 2. 930/880 BPS 11/19 3. 1045/995 BPS 11/19 4. 1080cc 11/19 5. 900cc 11/19 Positions on Monday close: 1. 990/940 BPS 11/19. As we were hovering above 990, I rolled half of contracts to 2. 985/935 BPS 11/26 for 0.05 debit. 3. 930/980 BPS...

Busy doing damage control this week. Open positions on Monday: 1000/950 BPS 11/12 1040/995 BPS 11/12 900cc 11/12 990cc 11/12 Like most others, this was quite an acid reflux inducing week. Watching potentially weeks of gains dissolve and wondering if my risk appetite was appropriately...

You’re the catalyst. Please sell a $1200 strike now. For science.

I’m still opening contracts for THIS Friday lol.

Forgive my ignorance, but if we just consolidate the next week or so, will RSI go down? Does it necessarily have to be a sharp reversal?

I wonder if his stance on the 1100 floor has changed now that we’ve broken through 1200.

Yuck indeed. Recently I have been thinking more about closing this solo401k and rolling over into a traditional IRA. This would allow me much more flexibility in strategies to use (BPS, BCS, LCC). I would, however, then lose my eligibility for yearly backdoor Roth contributions. I think from a...

If SP is above 1250 by Friday, why not roll for credit instead of closing for loss?

Even Fidelity does not allow spread trading in certain retirement accounts such as the Solo 401k in which I have a number if ITM ccs. 😔

I never let anything expire. BPS, BCS, puts, calls. Too much uncertainty and shenanigans can happen after close. Better to pay a little and close than wake up Saturday morning in the hole.

Isn’t this assuming that IV stays constant though? I’d be surprised if IV didn’t move if we do have a gamma squeeze on Monday.

I’d like to echo this statement. If you’re just getting started into writing options contracts, I’d avoid starting with spreads. Other opportunities with spreads will present themselves and it’s better to be well prepared for those than to be unprepared because of FOMO.

I don’t have any experience with call debit spreads, but the googling I did seems like an OK way to get back a little premium with -1250c since your +1200c is already a sunk cost. If we stay below 1200, you at least get the -1250c premium. If we’re between 1200-1250, your -1250c premium is yours...

If you ever decide to become a Youtuber/Twitch and livestream trades like these, I'll subscribe. This was so much fun to read. Lol.

Update for today: Rolled half my 1100/1150 bcs as we were climbing past 1090. When I don't have full confidence to go all in, sometimes I'll go halfsies. Rolled to 1250/1300 for 11/5 for small but decent credit. Got caught up with work and I saw we spiked down bigly. the 1250/1300 bps were...

First, thanks to all the contributors on this thread. Really helps learning everyone’s trading styles, strategies, and contingency plans. I had 745/795 bps from last week going into today’s open. Left them alone today with limit close orders for a few bucks. I have 11/5 900cc that I had...

I suspect we will have more Teslanaire discussion tonight.

Opened 895/845 and 860/810 this morning. Not sure how close to the sun they are for you. I have limit orders to close my 795/745 from last week also.

Is it just me or is anyone else hoping for a little pullback from this to sell some BPS?

I dabbled in options trading with other companies last year. I thought I was super talented until all of a sudden I was not. Made me realize I'm not an options trader; I'm a TSLA holder/trader. TSLA + cash. What else do you need?

All I can say is that a lot can happen before 11/5.

Finally went in with some -795/+745 this morning for 10/29. Saving ammo for later today or Monday. We shall see.

Fwiw, I find value in both forum posts and slack. Detailed posts for the forum, daily conversation-style chat on slack so as not clog up this thread. Just my $0.02. I’m not a prolific poster on either platform anyway. Back on topic, I’m still holding off on any BPS until I see some premium...

I’m itching to open some BPS for next week. That usually means I need to check my emotions. I’ll keep sitting out until I see something worth risking.

Yes, I read through those posts some weeks (months?) back. Curious to see how they'll handle it. I'm sure Tesla's got a plan.

My December Y delivery got bumped to January. Maybe it'll be one of the stockpiled Texas produced cars.

Closed all my BPS for the week right before market close. I'm thinking we get a decent dip tomorrow down to 830-840 range, maybe lower. If premium looks decent, I plan on reopening 745/795 for 10/22 for some pocket change. If not, then I'll look towards 10/29. Chart voodoo looks like enough...

Thanks for this. I’m definitely not more knowledgeable. Though my confirmation bias is now confirmed. 🚀🚀🚀

Looks like we have the same definition of diversification.

Wow, thanks for this. Did not know about it. I enter my trades almost exclusively through the phone app and I haven’t seen an option summary link in it yet. Maybe I’ll submit a request to Fidelity to add that feature to their app.

If no margin, then it is required to have the cash to pay the piper in case SP goes down and you suffer max loss. In that example, it would be $8500 you would need for a BPS. You’d need $68500 if you were selling a regular $685 strike put. In a Roth, you would need limited margin privileges...

Wow. Have a great weekend, everyone. Wish I opened more BPS lol. Still saving some ammo for Monday/Tues.

I should be happy with this SP movement, but I feel scared. Anyone else?

Closed 10/15 BPS 670/720 and 680/730 for ~ 70% gain. Did this mainly to open up my cash for... Opened 10/22 BPS 670/720 for 4.55. Will add more as the opportunity arises. Still have my 10/15 BPS 690/740. Probably will close tomorrow. My guess is as good as everyone's about how things will...

I've thought about it, as the bulk of my portfolio is in retirement accounts. There's something about having investments spread across both taxable and tax-advantaged accounts that gives me comfort though. I've also thought about doing this, but am trying to avoid having any $ in a...

Just a few?

Curious what the low risk plan entails? Thanks in advance.