Smart!
Likewise If we go down convincingly on Wednesday/Thursday probably makes sense to open more -C at the top (230-240 range). But TSLA is also a bit temperamental so nothing too crazy just in case.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Smart!
Likewise If we go down convincingly on Wednesday/Thursday probably makes sense to open more -C at the top (230-240 range). But TSLA is also a bit temperamental so nothing too crazy just in case.
Put in a pre-market order: STO 15x -c210 @$5.1, which triggered immediately at open, OptionsCalculator indicated SP 206 was needed for that, so IV must have spiked like crazy!
15x -p190/-c210 net +$10.3 strangle for this week, should be interesting
15x -p190/-c210 net +$10.3 strangle for this week, should be interesting
SpeedyEddy
Active Member
crossed the lower boundary of the upward short-termtrend again. Will turn out to be een false signal? 205 reached. Just closed my -P180's at 66% gain and opened -CC 210 for coming friday, intended to close as soon as +50% to 75% gain. Waiting for today's volumes on today's SPY options. Until Friday it was only secured on the downside (390-395). Wonder what the upside is guesstimated at.
SebastienBonny
Member
I can't do *sugar* because my Broker is having network issues. Really amateurish...
I opened a Collar on Friday -
STO P $190
BTO C $205
Just closed a ratio of 1 Call to 3 Puts to close out the Puts at 66% - now letting the $ C $205's run to 100% - Not too far now as this was opened when we were around $194 on Friday.
SpeedyEddy
Active Member
SPY will close around 399.50 today, so TSLA not needed for any influence. The stock will float today on its own inertia. And considering SPY/TSLA options on friday , this is it for now. It will not hold the coming 72 hours like @dl003 mentioned.
Unshielding my -CC to -C soon (selling the stock again on the next bump-up, SP $205.95 now.)
[Update] sold shares @ $207.21. will be extra careful with -C of course
I am still hoping for a short-lived significant drop to buy back in big, selling -P and buying LEAPS and then never having to sell shares again. I lost so many shares on the way down. Maybe silly to want to compensate, but that's my stubbornness[/Update]
Unshielding my -CC to -C soon (selling the stock again on the next bump-up, SP $205.95 now.)
[Update] sold shares @ $207.21. will be extra careful with -C of course
I am still hoping for a short-lived significant drop to buy back in big, selling -P and buying LEAPS and then never having to sell shares again. I lost so many shares on the way down. Maybe silly to want to compensate, but that's my stubbornness[/Update]
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I'm not very confident about this week, despite of the strong start, so an hour ago, at 205, I BTC my 20 x p195 3/3 for $4.00. The timing wasn't optimal, as afterwards it went below $3.00. But still a gain of 40%. Looking for a better entry point again.
SpeedyEddy
Active Member
@BornToFly , IMO it's all manipulation of the S&P.
AFTER every opening, you see some big players coming in selling (IMO) huge amounts of P and C SPY daily options only 1 point away from each other. (like today P399 and C 400) then they wait and if needed choose a bigger stock to instigate the moves needed, mostly $TSLA because of it's weight, absolute SP and ability to manipulate. End of day you will see the S&P drop right between the P and C. So you can predict S&P and guesstimate $TSLA on a per day basis. Because these big boys open their positions in the morning, you can't say anything for a longer timespan, except maybe the third friday, on which everything has to come in line with the MM's. (Macro disruptions excluded. These are the real movers in fact. ) This finding lured me into daytrading a lot, because it is very easy money.
AFTER every opening, you see some big players coming in selling (IMO) huge amounts of P and C SPY daily options only 1 point away from each other. (like today P399 and C 400) then they wait and if needed choose a bigger stock to instigate the moves needed, mostly $TSLA because of it's weight, absolute SP and ability to manipulate. End of day you will see the S&P drop right between the P and C. So you can predict S&P and guesstimate $TSLA on a per day basis. Because these big boys open their positions in the morning, you can't say anything for a longer timespan, except maybe the third friday, on which everything has to come in line with the MM's. (Macro disruptions excluded. These are the real movers in fact. ) This finding lured me into daytrading a lot, because it is very easy money.
SpeedyEddy
Active Member
And as the day moves on and they manage SPY well, more and more options are sold (p399 an C 400) At the moment a bit more P, so there is a bit more confidence to the upside.
If that was the MMD, it wasn’t very strong. Tomorrow is EOM, so maybe some minor 401(k) paycheck buying is holding things up?
BCS -c237.50s/+c247.50s at $0.40 and $0.46
-c235s at $0.83 and -c217.50s at $3.50
Edit: still have some uncovered shares
Very happy for this opportunity to sell BCS to pair with BPS, for ICs, plus a few CCs just for good measure. Should probably close early before Investor day. Unfortunately, I still have some ITM 205/215 BPS that are nearly a total loss, so will likely roll out for loss. Tried to save them with some BCS, but the SP just isn’t cooperating. FWIW, these were originally ITM BCS, that were flip-rolled on the last big run up. Learning about spreads the hard way, just like everyone else.
At least I have some -p185/+p175s that that we’re rolled down from last week that are 75% profitable now. That’s at least one win, so far.This AM, I learned that trying to trade at the open is just too fast and difficult for me. Never caught the high IV trades. Probably just best for me to watch and wait until 10am, or 10:30am for the MMD. GLTA.
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I considered BTC 15x -p190 from Friday with 60% gains, but decided to let them run, honestly wouldn't mind picking up some B/W shares at those prices, or even roll same strike for a few weeks
In the meantime, STO 45x 4/21 -c300 @$2.55 -> always nice to be the one setting the day high on a sell
I considered BTC 15x -p190 from Friday with 60% gains, but decided to let them run, honestly wouldn't mind picking up some B/W shares at those prices, or even roll same strike for a few weeks
In the meantime, STO 45x 4/21 -c300 @$2.55 -> always nice to be the one setting the day high on a sell
With a strike of 190 I would have felt safer than with 195 and probably not have closed the position either. Lately we have a lot of big moves where we go up or down 10-15 points in just two days.
On that note: STO 10 x p185 3/3 for $1.25. Those should be fairly safe.
The calls 300 you sold with an expiry date less than 2 months away sure have a nice premium. Must be because they expire right around Q1 earnings.
Could be the case, although I would expect to close them out long before then on a dip, I just look for 50% profits on these DOTM shitcall trades, then a resell when it inevitably pops back up again
Exited the 170/160 BPS opened on Friday, for this Friday expiration. One day open for about 2/3rds profit (in .50, out .17).
On the up day also added 240 strike cc for this week at .50. These are LEAP backed, but it feels nice having traded both sides again for the first time in 2 or 3 months (or more - been awhile since I opened cc). A $30 increase in the share price over the balance of the week would make me happy. Might even let these go at that point as I want to sell some of the very high leverage (buying leaps) on the way down.
On the up day also added 240 strike cc for this week at .50. These are LEAP backed, but it feels nice having traded both sides again for the first time in 2 or 3 months (or more - been awhile since I opened cc). A $30 increase in the share price over the balance of the week would make me happy. Might even let these go at that point as I want to sell some of the very high leverage (buying leaps) on the way down.
Last half hour price diverging from MACD and RSI. By 2PM we may have seen the day high?
EDIT: That didn't age well
EDIT: That didn't age well
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Closed my 3/3 192.5P (bought them Friday PM) for a 70% gain
Sold cc 3/3 215 for $4.55
Sold cc 3/3 215 for $4.55
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