For that crowdsourcing idea presented yesterday, considering 45x STO 31Mar23 -215C as seeming pretty safe. Only wondering if I should wait for Tuesday's CPI report? A good CPI report might get us a spike. One theory is the SBV crisis might give the Fed pause to raise 50BPS.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
I’m thinking of waiting. Premiums are really low, so screwy risk profile for the possibility of an SP bump up. These SP and CC price swings are causing me to reassess the benefits of doing 1-2 month CC vs. 1-2 weeks when prices are good to lock in at least decent weekly $. Maybe a variant of laddering would be useful.
SebastienBonny
Member
Sold 200CC for 03/24 for 1.50.
Because I was taken by surpise at a lower strike than comfortable back in January, I decided only to sell contracts in the future at (rollable to) comfortable strikes.
Went 2 weeks out now, which I usually don't do, but call premiums were just too low and better premiums bring more risk and lower, uncomfortable, strikes.
Because I was taken by surpise at a lower strike than comfortable back in January, I decided only to sell contracts in the future at (rollable to) comfortable strikes.
Went 2 weeks out now, which I usually don't do, but call premiums were just too low and better premiums bring more risk and lower, uncomfortable, strikes.
I'm waiting until near EOD to see if market makers can pull SP up to max pain. If so, I'll sell a few weekly cc's then. If not, then I like your idea of selling a cc a few weeks out.
Yesterday at 176 I STO 10 x p165 3/17 for $2.20, which I quickly regretted as the SP dropped to 172 and this morning even 168. Nice recovery since then, but we'll have to see if that holds for another week. If it looks like we will be expiring under 165 next week I will roll them out by a week.
I'm considering having the 10 x p190 3/17 assigned if we are in the sixties at the end of next week, and then start wheeling (selling calls 190).
I'm considering having the 10 x p190 3/17 assigned if we are in the sixties at the end of next week, and then start wheeling (selling calls 190).
As of this mornings posting - no idea though since lot's of volume so far today on options....
SpeedyEddy
Active Member
Yes, but most action around current levels, so this is kind of it for today with touch of flavour higher. (180-ish) Next week guiding a bit lower
I have a roll opportunity to 4/6 -p155 short leg of BPS for -.80 , which I don't care about paying out. What level of confidence do we all have expecting SP above? I can always roll, early. Just trying to not do that twice unnecessarily.
EDIT: walk away for a few minutes ... it's gone. Crazy price action today.I'm gonna go for it Took 4/6 -p160 $30 wide, will plan early roll while OTM.
EDIT: walk away for a few minutes ... it's gone. Crazy price action today.
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Yoona says (on Twitter) dealers may close today between $172.5-$182.5. $175-$176 acting as a magnet (lower BB).
I’m considering 3/17 -C190 at next pop to $178+ against $182.50 and $187.50 shares I’ll likely be assigned today (willingly) if we close below 182.50.
I’m considering 3/17 -C190 at next pop to $178+ against $182.50 and $187.50 shares I’ll likely be assigned today (willingly) if we close below 182.50.
Closed out this week's 15x -p195's just under $18 - that's around $4.3 per contract loss (+$13.6 for the -p/-c straddle), but this is a lot better than it could have been given where we headed at open!
As this was a small loss, I didn't feel the need to make recovery trade - I had been eyeing July 21st -195 straddles, which pay out around $54, so could have rolled to that for 3x less contracts, obviously -c195's in July are a risk, but just 5x, who cares? It's a good escape route to remember for the future
Instead, shoot me, went back in on 15x -180 for next week [email protected]/[email protected] - it's quarterly OPEX with MP @180, so I see this as a reasoned bet for the week, if anything I'm more wary of the upside as I have my own views on CPI, etc., but throwing 15x calls out to July or next year is not an issue either
Other thing with -p180's with $13.2 premium in the bag is that acquiring shares for a et 166.80 starts to become very enticing, although truth be told, 150 would be nicer, but sincerely hope it doesn't come to that
As this was a small loss, I didn't feel the need to make recovery trade - I had been eyeing July 21st -195 straddles, which pay out around $54, so could have rolled to that for 3x less contracts, obviously -c195's in July are a risk, but just 5x, who cares? It's a good escape route to remember for the future
Instead, shoot me, went back in on 15x -180 for next week [email protected]/[email protected] - it's quarterly OPEX with MP @180, so I see this as a reasoned bet for the week, if anything I'm more wary of the upside as I have my own views on CPI, etc., but throwing 15x calls out to July or next year is not an issue either
Other thing with -p180's with $13.2 premium in the bag is that acquiring shares for a et 166.80 starts to become very enticing, although truth be told, 150 would be nicer, but sincerely hope it doesn't come to that
EVNow
Well-Known Member
Well .... I was trying to roll to 170 (too optimistic) .... so changed to 175 for a small credit. If SP gets back to 176/177 level, that will work. Otherwise will have to roll to 177.5 or 180.
Market is not helping ... TSLA seems to be about 2% better than Nasdaq. If Nasdaq comes back up ... we can get back near day's high of 178.
Tesla is really strong today. Is this a death cat bounce? It seems that all the EV automakers and GM and Ford are down 3%. I sold some $205-200cc's for next week but not many.
EVNow
Well-Known Member
I strongly suspect the strength today is because of options. As traders close options, MMs buy/close delta hedging positions. That moves the market (along with algo trading that goes on all the time and forms majority of trading).
Everyone's peeing their pants over SIVB collapse, but really looks like there's little or no collateral damage, in fact the word on the street is that this has spooked the FED and might force them to tone-down a bit...
So DoA CPI, 0.25% only with a dovish JPow, 420k P&D, $1EPS with 23% margins and we're off to the moon!
(not financial advice, remember, me = idiot)
So DoA CPI, 0.25% only with a dovish JPow, 420k P&D, $1EPS with 23% margins and we're off to the moon!
(not financial advice, remember, me = idiot)
We held 170-175 pretty well all day. I closed my -C200 3/17 due to a possible bounce Monday and will gauge then where TSLA is headed after weekend dust settle and whether to STO again on a DCB at better prices.
EVNow
Well-Known Member
Rolled to 177.5 for a small credit. I'll take $5 improvement in strike vs no improvement
Well - finally got out of the ER induced call prison. But kind of anti-climatic considering the sharp drop in SP.
-123/+128 -> -125/+130 -> -143.33/+150 --> -165/+170 --> -175/+190 --> -175/+200 --> -185/+230 --> -185/+225 --> -195/+220 --> -205/+225 --> -200.
Sold 200 strike calls for 3/17.
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I bought shares in 2021 and 2022. I thought Im not gonna buy in 2023 and instead build up cash from selling options to pay off my house, deleveraging myself. Today I have got enough and so I bought 300s on margin as a reward to myself.
Yep.
Yep.
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