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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
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
pz1975
Active Member
That's what I was saying last week - better to wait until the bid/ask spreads narrow before buying IMO. That can take a few weeks.
I totally agree and am using the data relatively, weighting accordingly DTE, by taking screen shots the night before and comparing to recalculations. It is fascinating and I think very useful. Even multiple weeks out.
For instance, I think the $700 call wall might be gone currently or materially lower. I'm not STO any calls until I see it tomorrow morning.
Yeah looks like that wall mostly evaporated and there's two spikes at 740 [duh] and 750 currently.
glhs272
Unnamed plug faced villian
I jumped back into the fray again this morning. Was hoping to sell a 755cc expire 9/17 during the early morning spike, figuring it would trail off. I was sorta right, but the trade didn't execute before the sell-off began. Held off for a while, waiting for a dead cat bounce or similar. It happened, but my call was worth less than I was hoping for. Committed the trade anyway. Was surprised the bullishness this afternoons trading, could have held out for better premiums.. oh well. So, now let's see how this week goes... clearly my timing is terrible, but I am still having fun.
If we run up this week, my long shares will greatly increase in value whatever gains I am losing out with the 1 options contract should it not expire worthless, but if it does, back for more covered call fun... Weee heads I win, tail I win.
If we run up this week, my long shares will greatly increase in value whatever gains I am losing out with the 1 options contract should it not expire worthless, but if it does, back for more covered call fun... Weee heads I win, tail I win.
I did end up opening some 580/680 BPS on friday right at close, closed them right before close today for 70% profit. I'm trying this early profit capturing thing this week. After CPI data tomorrow and taking a look at option interest I'll maybe have a sense for a new position for the week
Volume is not open interest. Trading existing options around boosts volume without changing OI.
If all the 700 activity was closing positions, it would have dropped from 44k to 35k.
The 740 and 750 volume could boost those OI. Like @Discoducky said, we'll know at 7am EST tomorrow.
Knightshade
Well-Known Member
and green to the tune of up 35.92% at close. Interesting day.
I did get to close 740ccs cheap earlier at least (then sold 755cc when we popped up over 740)
mickificki
Member
Thank you!
after I had posted that I realized I was incorrect. I went to delete it but then realized I could probably learn from whoever told me I was wrong.
So there’s no way to get live open interest on options? :/
My theory is that live OI would be too big a peek "behind the curtain" for the MMs to allow the plebs to see.Thank you!
after I had posted that I realized I was incorrect. I went to delete it but then realized I could probably learn from whoever told me I was wrong.
So there’s no way to get live open interest on options? :/
Obviously the technology for it to update in real time already exists (he says watching hundreds of options prices update in real-time)
Just to be perfectly clear, options OI (Open Interest) **ONLY** updates once per day at 4am Pacific. My brain is nearly hard wired to wake up, check it and go back to sleepMy theory is that live OI would be too big a peek "behind the curtain" for the MMs to allow the plebs to see.
Holy crap, Wingman bites compared to Option Tracker! @adiggs @UltradoomY 90 day free trial, 29 bucks a month, and you can upload historical data... They are encouraging manually entering after first download, but overall is more intuitive.
InTheShadows
Active Member
It doesn’t tell you the OI throughout the day but it can give you an idea of how much it could be changing. A lot of times those strikes that have high volume are from day traders scalping small moves on the 1 minute chart. They are chosen because they have a solid mix of risk:reward and the Greeks maximizing their trades.Thank you!
after I had posted that I realized I was incorrect. I went to delete it but then realized I could probably learn from whoever told me I was wrong.
So there’s no way to get live open interest on options? :/
I'm sure someone can calculate the probability of profit from each of these trades. Just eyeing them without any thinking, I'd say the $700p/$650 is safer. Whenever I aim for BPS or anything, I pick the short strike first. The $720p is a little too close to the money vs $700p. That automatically gets you a higher chance of occurring. For spreads, best is to go for a short strike you are comfortable with, then if you are talking about allocating buying power, go for the wider strikes instead of increasing contract size. There's a tastytrade video/study on this. They recommend widening the width of the strikes instead of doubling down. This way you will have an easier time managing if it turns sour(we had many pages of discussion on how to manage BPS like 20 pages back.)
Today, I opened some $750CC near the end of day for $7.20 and $8.00... I'm under the impression that the volume and volatility brought on by quadwitching will generate opportunities for me to close at a 50% profit. I dont aim for 70-90% like most, i just go for the small winners.
Can you tell us more? Their page doesn't talk about how new trades get imported, and is my personal first and primary need for the tool. Anything that needs manual entry is out the door - that's what I'm trying to get away from.
Somewhere fairly far down the page, it sort of sounds like one can use this software to enter and close trades as well - not just track them. Or maybe it gets open positions when you load trades, and the software can get updated information live from the market?
I'm pretty sure that this is one of the ones that I found, and the front page information presented didn't answer the questions for the needs that I have. But I've also said that I have no other meaningful point of comparison - if there's a significant improvement over what I have, then I'm ready! I particularly like the idea of getting historical data. Wingman will only load current positions at the start of time and then record transactions from there. I understand why they have the limitation, but it's a limitation I'd like not to have.
It seems to allow using an api to enter trades so the more technically inclined of us might be able to write something to do so. TD/ToS has an api I could use to get information so maybe I could wire something up.
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