@Max Plaid and anyone else, I know Cat and suggested he join us here so he can get some urgent not-advice. He has a ton of -C130 4/26 @18.00. CB is $250. He was expecting TSLA to stay in the $130-$140’s or tank further on earnings.
I suggested to roll up and out but I’m no expert, can you take a look and recommend a fix?
A reasonable thesis, I would say, and based on the earnings numbers should be the case, but here we are...
I was in similar position with 100x -c140, yesterday I closed out 25x by selling 100x -p165 for this week, and rolled the rest to next week, expecting yesterday's pop to fade
Alas this didn't happen, and I was in the office at open, so missed the drop below $160, but with the calls bleeding everywhere decided enough was enough and rolled 75x -c140 to 25x Dec 2025 -190's
Rolling there neutralises the cost value, the put go up/down as do the calls and essentially cancel each other out
What this move does do is free up contracts and buy time, now I can write weeklies and use the premiums to buy back those positions over the next few years, no stress
And on that note, STO 100x 5/3 -c175 @$2.6 -> at this strike they roll nicely to September -c240's if need be
Looks like someone just had good earnings, everything popped +1% AH...
