KTC Lurker
Member
Anyone else have issues with IBKR this morning? I missed the boat on juicy BPS profits because the web based platform continues to error.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
No issues for me, although I only trade on TWS.
I've sold about 2/3 of my allocation for this week and will wait till tomorrow before I add any more. I was a little early on most waiting an hour after open when it should have been 1:10. Current IC's CC and BCS are:
1Oct IC 725/750 820/850 @$4.00
1Oct BCS 830/860 @ $1.25
1Oct 840CC @$1.25
Unless it comes out over the weekend - October 4th Monday would be my guess.
Rob @tesladaily thinks it might be as early as Saturday and I'd tend to agree based on recent history.
dc_h
Active Member
Sold BPS this morning 720-640 for 5.41, waited and then sold 5 700-650 for 3.10 and another 5 700-650 for 2.10. I may sell some tighter 750-740 BPS after the market settles, but am concerned about macro issues. I also bought March 2022 500 calls for 290 to replace my 765 and 770 calls last week. I had 4 options called and bought 6 calls. I was trying to buy stock back too, but put in a limit trying to pick the bottom. I am pretty sure I will not sell calls this week, the premium is too low and the risks too high. Macros could crush us still, with 10 year rates hitting 1.5% and the GOP shutting the govt down. Most people aren't impacted by a govt shutdown, until they are. Social security checks and if we get to default status, debt costs could be impacted, permanently impacting the cost of debt.
Issues outside of max pain and market makers, and I don't think max pain is in charge the next few weeks.
HODL:
Issues outside of max pain and market makers, and I don't think max pain is in charge the next few weeks.
HODL:
- P&D due this weekend and news of smashing records is already out there.
- Shanghai possibly producing over 2000 cars a day.
- Austin & Berlin appear ready to start building pilot vehicles for the Oct 7 stockholder & Oct 9th gigafest.
- Govt shutdown
- Interest rates are going up
ChefBoyardee
Member
Based on the channel it's a great time to sell calls, but this time feels different with so many catalysts coming up. I ended up just selling a bunch of safe put spreads for this week since the premium is still decent with the high IV (720/710). Bought a 785/800 call spread too for funsies
Well, we've blown through the upper BB.... The question is when do we correct below it, and how high with the upper BB when that happens? Sitting on my hands as all my sold Puts turn more green. Waiting 1-2 weeks to sell CCs.
TSLA is up 20$ .. and my portfolio is only up 14% .. must .. do ... moooore .. leverage!!
I am thinking of taking some chips off the table, but i struggle how ..
I have a 8/10 700c position that is up >30% now with 0.87δ... either sell & wait for reversal tomorrow.. or sell ~800 CC against for another 10% gain. The CC can backfire if the stock drops (as the drop in the 700c is way more pronounced than the CC offsets).
I fear that we fall ~20$ tomorrow for some MM to get their stuff in order. On the other hand i fear missing out on the BIG GAINS i waited for since Feb ..
What would you do?
I am thinking of taking some chips off the table, but i struggle how ..
I have a 8/10 700c position that is up >30% now with 0.87δ... either sell & wait for reversal tomorrow.. or sell ~800 CC against for another 10% gain. The CC can backfire if the stock drops (as the drop in the 700c is way more pronounced than the CC offsets).
I fear that we fall ~20$ tomorrow for some MM to get their stuff in order. On the other hand i fear missing out on the BIG GAINS i waited for since Feb ..
What would you do?
KTC Lurker
Member
The UX of TWS is shockingly hard to use, coming from the web based UX. Do you recommend using the IBKR tutorials or are there 3rd party tutorials you learned better from?
STO OCT1 -p700/+p650 @3.30
BTC @1.54
More than 50% within a few hours. Hard to pass up. Waiting for pull back to re-enter position.
BTC @1.54
More than 50% within a few hours. Hard to pass up. Waiting for pull back to re-enter position.
i learned as i always learn. Open TWS & start doing.
No manual, no nothing.
Only on complicated things i did a bit of research (conditional orders for example).
Knightshade
Well-Known Member
Heh, yup.... I could convert back to about 850 shares presently (net gain of 50 from what I began with, though net value gain of a couple hundred k)
Original plan was to wait till Friday anticipating climb this week heading into P&D reveal... seems like that's still a decent idea, but what's that thing about pigs getting slaughtered?
KTC Lurker
Member
You're a brave soul. In the OptionTrader while putting a multi-leg (BPS) together the lack of maintenance margin impact insight boggles my mind. Do you have a formula for calculating manually that you use?
I do a rough calculation in my head.
Margin-needs is roughly a probability-based expectation on the max-loss.
i.e. i have 10x 750/670 Bull Put - max-loss 80k. Margin reqs. 62k. But if know if things get hairy i can either roll (for credit & less margin) or turn it i.e. into a 750/700 bull put for "little" money, but gain 24k of my margin back (& limiting max-loss to 50k).
And their algorithm is batshit stupid. Sometimes i need 10x MORE margin if i REDUCE the risk. Last week i could do 10x CC for -16k margin or so. When i changed that to 5x CC i would have NEEDED 200k more margin-buffer. Doing no trade = 0 margin impact & staying compliant.
But well.. there are NO alternatives here...
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