the drama today is in TSLA, NFLX, NVDA standard approach works this week.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Cost and time... the Jan 2025's cost $9, which isn't a huge outlay, if I write against them now and the stock bounces, calls go ITM, then I have a whole year of rolling to recover the situation...
EVNow
Well-Known Member
Sold 15% OTM puts and calls yesterday. I don't expect 175 & 170 puts to go ITM tomorrow (if they do, will roll).
Last 4 ERs have resulted in near 10% SP movement. That delta of 0.1 doesn't take into account that its the ER week (i.e. the puts and calls are cheaper than they should be, even with the very high IV). So, need to use % OTM ...
Sorry for all the posts, had a lot to respond to... What a stinking day, really depressing, no?
OK, so what did I do today, lots to sort out...
On the pop:
STO 100x 2/2 -c185 @$8.6
BTC 100x 1/26 -p205 @$14.8
On the drop:
BTC 100x 2/2 -c185 @$5.1 (net +$2.5)
STO 100x 2/2 -p200 @$14.8 -> so a free roll down!
On the further drop:
BTC 20x 1/26 -p220 @$38.9 (net -$24)
BTO 100x Jan 2025 +c200 @$8.75
STO 100x 2/2 -c185 @$4.1 (yeah yeah yeah, the ones I rebought earlier for $5.6...)
STO 20x 2/2 -p185 @$7.6
So realised a quick $25k on the first calls sell/buy, rolled the puts down for free, which involved rebutting, then having the nerve to wait a bit
Was intending to roll the -p220's to the same strike, but even going out a month there was almost no agin in premium and I really don't want to be worrying about those early-assigning, so straddling with the calls ATM seemed the best way to recuperate a bit of the money, I also looked to roll them to September -p270's, but little extrinsic in those too, so potentially creating another problem there
The -p200's are now at same strike as the long March +p200's, I will probably roll the the -c200 to the March expiry, will gain a little premium each week, ideally the SP rises back towards 200, then it becomes more profitable
OK, so what did I do today, lots to sort out...
On the pop:
STO 100x 2/2 -c185 @$8.6
BTC 100x 1/26 -p205 @$14.8
On the drop:
BTC 100x 2/2 -c185 @$5.1 (net +$2.5)
STO 100x 2/2 -p200 @$14.8 -> so a free roll down!
On the further drop:
BTC 20x 1/26 -p220 @$38.9 (net -$24)
BTO 100x Jan 2025 +c200 @$8.75
STO 100x 2/2 -c185 @$4.1 (yeah yeah yeah, the ones I rebought earlier for $5.6...)
STO 20x 2/2 -p185 @$7.6
So realised a quick $25k on the first calls sell/buy, rolled the puts down for free, which involved rebutting, then having the nerve to wait a bit
Was intending to roll the -p220's to the same strike, but even going out a month there was almost no agin in premium and I really don't want to be worrying about those early-assigning, so straddling with the calls ATM seemed the best way to recuperate a bit of the money, I also looked to roll them to September -p270's, but little extrinsic in those too, so potentially creating another problem there
The -p200's are now at same strike as the long March +p200's, I will probably roll the the -c200 to the March expiry, will gain a little premium each week, ideally the SP rises back towards 200, then it becomes more profitable
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I have a bunch of June and Dec 2025 LEAP in the 150-185 range. These are LEAPS that I intend to exercise for shares in the future.
I was thinking of using some of the funds from selling CC's on my shares to roll these out farther to the June 2026 strike date and/or lower the strike prices. The math works out to where I save cash by lower the strike prices.
Is there any benefit to executing this plan now or waiting for more time decay to make it cheaper to roll these LEAPS? If the share price does drop to 145-150'ish area, it should be even cheaper for me to roll those LEAPS correct?
I was thinking of using some of the funds from selling CC's on my shares to roll these out farther to the June 2026 strike date and/or lower the strike prices. The math works out to where I save cash by lower the strike prices.
Is there any benefit to executing this plan now or waiting for more time decay to make it cheaper to roll these LEAPS? If the share price does drop to 145-150'ish area, it should be even cheaper for me to roll those LEAPS correct?
when did this happen?
Question, if anyone is so inclined to provide thoughts...
I have a substantial unrealized gain on some $200 strike put options expiring next Friday 2/2. Those are hedging core shares, so I'm reluctant to just close them in case we go lower from here, but I hate to lose out completely on what is at present a 12X return should the stock end up at $200.00 next Friday close. Any creative ideas on how I can capture some of that return while maintaining a +P position as a hedge?
I have a substantial unrealized gain on some $200 strike put options expiring next Friday 2/2. Those are hedging core shares, so I'm reluctant to just close them in case we go lower from here, but I hate to lose out completely on what is at present a 12X return should the stock end up at $200.00 next Friday close. Any creative ideas on how I can capture some of that return while maintaining a +P position as a hedge?
3/15 looks ugly, though from now through summer 2024 doesn't look much better either...
4/19
5/17
6/21
7/19
8/16
4/19
5/17
6/21
7/19
8/16
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when did this happen?
Translation: Micro-pop
Sell those and buy lower puts? Roll down for credit. $11.30 credit on 15 strike change.
Not advice...
If the goal is to eventually exercise for shares, you'll gain more ground getting the strike down than by accumulating the cash to exercise them.
Near term calls will decrease faster than farther out calls - so if we stay flat or go down, you'll lose more on the 2025s than the 2026s each day. Also, if we're flat or down you'll be missing out on that weekly income while you wait.
thenewguy1979
"The" Dog
The precipitous climb just above 190 at 10:00when did this happen?
I missed the opening to 192 as I had no idea on IV, so put in a sell order, just before open, for some calls, but it was 2x the Bid/Ask, doh!
I rolled mine, got better strikes in $190 vs 250-300 range with all the shuffeling. Theta decay etc on short term is more and looks like we ain't going anywhere soon.
It's time arbitrage play. Also, sold Jan 25 CC's against the new Calls, so some $offset that way as well.
If SP is flat, By Jan 2025 all my CC's will expire so will again sell Jan 26 CC's against shares etc and manage the June 26 Calls accordingly ... 1st goal is to survive
(for me all od purchased Calls are in the Other People Money bucket, my core shares are all HODL ..dumb money ... diamond hands )++ .. when FSD, Optimus, M2 come along these calls will be waiting
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185 has been looking like the local pivot all day...
I'm OK chasing some short calls up from here, I'm sick to death of the stock dropping and would prefer the pain to manage some ITM's...
Probably worth mentioning that this time last year I was caught with my pants down selling -c135's when the stock took off... this time it's more doing the opposite, thank Dog I've been selling against long puts and not CSP's, and from here have a ton of long calls to cover any reversal
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my solution is to try NVDA for the very first time and it's working out (put some eggs on other baskets)
EVNow
Well-Known Member
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