I didn't pull the trigger. I'm assuming if we are down tomorrow we are back to this level Wednesday before earnings come out....
I would have been able to do Jan 2024 -320CC and +200P for even. 320 in Jan 2024 just seems too low though....
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
I would have been able to do Jan 2024 -320CC and +200P for even. 320 in Jan 2024 just seems too low though....
I wanted to roll my 5 x-p98 of GOOG 21/10 to 25/11 and managed to BTC my puts and STO 5 calls of GOOG instead during my 10 minutes lunch time. Just realized I sold calls instead of puts.
First time of my life I have uncovered calls on a stock. First time of my life I hope we open red tomorrow to close them.
Last month, I wanted to buy 50k of GOOG, 50k of PYPL, 50k of META and 50k of QQQ. However, my wife just told me to sell the equivalent in Puts instead. I rolled all the Puts to November. And flip rolled my GOOG puts to call instead doing it on my phone with my greasy thumb at lunch time. If we gap down tomorrow my thumb will be a genius.
First time of my life I have uncovered calls on a stock. First time of my life I hope we open red tomorrow to close them.
Last month, I wanted to buy 50k of GOOG, 50k of PYPL, 50k of META and 50k of QQQ. However, my wife just told me to sell the equivalent in Puts instead. I rolled all the Puts to November. And flip rolled my GOOG puts to call instead doing it on my phone with my greasy thumb at lunch time. If we gap down tomorrow my thumb will be a genius.
Sold 75 of these today at $5.50 each - making the remaining 25 free and ready to sell tomorrow or Wednesday.Who likes a YOLO? (me!!!!!)
Wanted to buy some calls for next week as we are overdue for a bounce....
Wanted something under 10% away and $230 was just slightly out of it.
Wanted to do 25 contracts to make it worth while and "fun"
Went with the $227.50's at $3.05 each
Fooling around with other stuff like far OTM call sales for 100 contracts before making my purchase.........................
Schwab keeps the amount you have set and I'm dumb, so in for 100 $227.50 calls for next week.....
(please bounce, please bounce, please bounce)
That's a yolo for you!
(not financial advice)
And hey, we got the bounce I was hoping for!
Good luck to all!
Following @Papafox option roll strategy. Sold several January 2023 ITM calls today. Then placed an order for the same number of slightly higher strike price June 2023 at the same option price.
I should have done this on Thursday, as I really didn't trust the stock price rise after CPI numbers came in on Thursday. Oh well.
Also following Papafox's advice, I am doing this in a small enough number of lots so that I am more than happy if the stock price doesn't drop enough for this order to fill.
I should have done this on Thursday, as I really didn't trust the stock price rise after CPI numbers came in on Thursday. Oh well.
Also following Papafox's advice, I am doing this in a small enough number of lots so that I am more than happy if the stock price doesn't drop enough for this order to fill.
dc_h
Active Member
I sold some 240 CC's today, daring the market to rally and take my shares. Sold at 2.09, so about even. I have another 24 CC's at 275, 285 and 290. Perhaps I should have bought them back for 90% + profit, but I don't want to sell more near money just yet. Earnings could be a *sugar* show with the change in delivery expectations, but margins could be insane to the upside. Keeping the day job for now, so no hurry to sell.
same
methinks earnings week is not the right time to maximize income (i have no guts)
so i am closing all my remaining CCs on Wed; no regrets if Thu/Fri red; better to have small gains than big loss
after that, i believe the next pain is the 10/28 TWTR nonsense (is EM selling again???); i will remain in cash next week until there is clarity
hope for the best, plan for the worst
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Possibility: sell some 10/28 CC at SP+15% at 3pm Wednesday (collect ~$6k every 2 weeks) and roll the 4/2023-c$325 down and in on Friday to something like 1/2023-c$260. Easier to manage the latter with shorter dating if we start a move up. Doubt we get much more than $250 during next several weeks from even boffo earnings given macros.
Be very careful with the strikes you choose when rolling to DITM BPS. The $450/416.67 BPS you've suggested looks to only have only a very tiny amount of time value left. I've recently had $366.67/400BPS for that date assigned and I'd expect the BPS you're suggesting would be assigned pronto on another dip. I don't have an issue with using DITM BPS to try to save these positions but you should really target strikes with at least $1-2 extrinsic value left, and more likely to go ITM. This may require more margin and then you should also compare other alternatives such as a partial split roll.
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Like usual this stock is going to make us sweat on the downside and then on the upside
.Thought I'd have the day off ... I sold 235, 240, 245 that may need early management
SebastienBonny
Member
This is mind blowing. Never thought a 250 CC for this friday would possibly be a problem and after 1 trading day and todays pre-market I start to think it will need management.Like usual this stock is going to make us sweat on the downside and then on the upside
probability of loss is higher on earnings week, i think
Max pain has moved from 250 to 245 this morning.
I wrote literally one 250 for Friday, somehow holding back the urge to write more. Happy I did.
Yes the stock might launch up but I’m sure we’ll be able to close for a profit in the future. I highly doubt Elon will say “I’m done selling” on the call. I’d be worried at that point. If anything he might start selling again on Thursday.
I wrote literally one 250 for Friday, somehow holding back the urge to write more. Happy I did.
Yes the stock might launch up but I’m sure we’ll be able to close for a profit in the future. I highly doubt Elon will say “I’m done selling” on the call. I’d be worried at that point. If anything he might start selling again on Thursday.
Max pain has moved from 250 to 245 this morning.
I wrote literally one 250 for Friday, somehow holding back the urge to write more. Happy I did.
Yes the stock might launch up but I’m sure we’ll be able to close for a profit in the future. I highly doubt Elon will say “I’m done selling” on the call. I’d be worried at that point. If anything he might start selling again on Thursday.
And is not like we are back into a bull market. I wonder how Netflix will do tonight that might help tomorrow to adjust calls by giving up some of the credit. From Friday close $240 would be a 17% move and $250 a 22% move which is possible because we were oversold but who knows. As long as I can roll to $300 I would be happy lol.
I missed selling calls at the open but I did dump all the knives I caught in the past few days for 229.5. I see I wasn't the only one. lol
time to roll up if you are feeling nervous
corduroy
Active Member
Sadly, the market thinks there's a better chance of us hitting 200 by Friday than 260 (20% vs 6%)I'm regretting my 260CCs for Friday. With my luck, SP 300 is guaranteed now for Friday. You're welcome.
dc_h
Active Member
I would love for my 240 CC's to be in danger. I doubt it though. Selling CC's this morning might have been the best move.
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