bkp_duke
Well-Known Member
Opened up the Call wing of my IC.
25 x 770/800 exp 9/17 for $2.71 each.
25 x 770/800 exp 9/17 for $2.71 each.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
One of us, one of us, one of us
mickificki
Member
picking up more pennies, 8x 9/17 CC 770 strike @ $3.10.
corduroy
Active Member
Me too: 790/830s for .95 That's about as close I want to get to the upside this week.
my 760s are burning great theta right now
You should see my Lambda Lambda Lambda.my 760s are burning great theta right now
jeewee3000
Active Member
And my 740's have their hands over their ears and are going "lalalalala".
*gulp*
*gulp*
We are the bad guys. Nothing wrong with a lil bit of self love.
I'm done with puts this week. Not worth it for me to chase it higher into the 700s. Sold 680ps for 9/24 @ 4.65.
Closed the put side of my 09/17 Condor this morning when we were at $750 for $0.20 each 98% profit - closed the call side yesterday at 95% profit.
Now that I am naked for this week -looking to open my next trade for 10/01 expiration.
-$690 / +$650
-$820 / + $860
$5.80 each - waiting on a fill.
Also closed the call side of my 09/24 Condor yesterday (same time as the 09/17) for 90%
Still have the put side at $695/$675 and letting it burn off.
Really enjoying these 2 week condors, low overall max loss vs. premium gained and I only need to do one trade per week to hit my goals.
Now that I am naked for this week -looking to open my next trade for 10/01 expiration.
-$690 / +$650
-$820 / + $860
$5.80 each - waiting on a fill.
Also closed the call side of my 09/24 Condor yesterday (same time as the 09/17) for 90%
Still have the put side at $695/$675 and letting it burn off.
Really enjoying these 2 week condors, low overall max loss vs. premium gained and I only need to do one trade per week to hit my goals.
Lots of rolling this morning with the Put sides of my existing IC's all rolled up to $690/$715 for around $1 extra credit.
Also:
STO 150 x 780/810 BCS @$1
STO 120 x 695/720 780/810 IC @ $2.80
STO 25 x 780CC @ $1.25
Also:
STO 150 x 780/810 BCS @$1
STO 120 x 695/720 780/810 IC @ $2.80
STO 25 x 780CC @ $1.25
Thx for the notice.
I joined in there with 10x @2.84. Sold half at $2, other half at $1.4. Order to reenter @2.5 is already set in case we get another spike later
Not bad for a quick 1h drive-by trade
bkp_duke
Well-Known Member
I didn't have that issue. I would check for errors in your order (wrong date, reversed the sale / buy sides, etc.).
I wonder if we will get an IV bump with the P&D report around the corner.
I went with 10x $770 CCs for Friday expiry. Didn't feel comfortable with puts...my 760s are burning great theta right now
Whatever you do, it also needs to work for you from a time, energy, knowledge, and emotional point of view. I discovered for myself, as a for instance, that actually turning the wheel regularly didn't work for me. The cycle from cash into shares (put assignment) was fine. But shares into cash was hard for me - I was constantly worrying about whether I could get assigned on the puts to get back into shares, before the shares took off.
So I took that one test position through the wheel, made decent money as it turned out, and haven't done it again. I still consider the wheel to be a backup to the backups in my management strategies, but I hope to never use it.
Leading to the idea - take a small position out for a test drive. Something that helped me with BPS was to use a very W I D E spread size. For this purpose I'm partial to a $200 spread size. Something like a 500/700 put spread (illustrating an idea - not a specific trade
). You'll discover that it behaves almost exactly like a cash or margin secured put and to the degree you already have experience with those, you'll be able to start transferring your knowledge and experience with short puts to the BPS.I personally am mostly doing $100 spread sizes - that keeps me from going too wild on the leverage as I tend to use all of the capital I'm devoting to this purpose. I.e I'd be selling 2x as many on a $50 spread size, or 10x as many on a $10 spread size. Keep control of my own tendency to get too crazy and also keep my emotional keel when things go badly.
bkp_duke
Well-Known Member
Closed my collection of 720 strike BPS for this week (2/3rds profit), and opened 770lccs for this week - around 1.25 credit. I think the share price is going to get sucked down by the strong gravitational pull that is max pain on a quarterly expiration.
My short LEAP calls are all crashing this week while the SP rises. I suspect call buyers are wary of the current macro environment, therefore liquidating their calls to put that money into shares.
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