Yeah, that's the game though, do you wait and see, with the risk of going ITM or cut your losses now?Nice work. A lot to keep track of!
I'm still holding these covered calls (would like to hold onto the shares if I could):
11/17
15x -C230 @1.00 (currently red6.329.05)
Wondering about this (nutty?) logic: If I BTC this today or tomorrow it will cost me around $8/share ($12k) over what I got for the contracts, that's like locking in the sale on the shares for $230 when it's at $238 now and might go higher by Friday. If I do nothing and let the clock run out and the SP remains around $238-242 range by Friday close, I end up with more or less the same "punishment" but keep the chance we chop tomorrow and Thursday and close Friday around $230-235 in my back pocket. (However, if the SP goes to 245+ I would be stupid for not freeing up the shares and just rolling to maybe Jan 19, 2024 -C265 for $8.70). Is that nutty overthinking?
View attachment 990741
11/24
30x -C235 11/24 @ 3.15 (currently red6.108.07)
15x -C240 11/24 @1.00 (currently red4.105.57)
I'm not worried about these just yet.
Many would say, after the run we've had, that surely we'll get some pause, consolidation, or pull-back, but I've been trapped many times where TSLA just kept going up without any reason, mostly due to options hedging, I think
I think the conventional wisdom, when faced with such dilemmas is to go half...
I'm looking for a pull-back to the low 230's before rolling, as that would yield +$2 for c220's to text week and about the same on -p220, that would allow a reduction in the 100x -c220 to 80x -c200
If necessary I'll roll them out to Sep 2024 -c270 and roll down the -p300's there to -p270, but I prefer not to do that if possible and resume weeklies, but really need to discipline myself to stay away from OTM's!!