Wiki Selling TSLA Options - Be the House

[corduroy]

Sold more 9/17 BPS 690/590 for $5. Couldn't resist that premium with a 95% POP.

 

[AquaY]

Sold more 9/17 BPS 690/590 for $5. Couldn't resist that premium with a 95% POP.

I Sold 9/17BPS 710/610 for $5.90

 

[stealthyc]

I'm sitting out today. I expect more red on Monday, but will certainly be happy to be wrong!

 

[Yoona]

if one is buying a LEAP right now with the intention of flipping it on Mon, what would be a not-advice?

thanks in advance!

 

[TheTalkingMule]

Sold more 9/17 BPS 690/590 for $5. Couldn't resist that premium with a 95% POP.

That's quite a chunk of premium, exactly the brand of BPS I want to start dipping my toes in.

Mind if I ask what kind of cash I would need sitting in an IRA(spread eligible) to cover a trade like this?
Also, what's the worst case scenario look like if the world imploded and TSLA goes to $650 or $550 next Thursday?

 

[pz1975]

I am loving this Friday afternoon price action from an options selling perspective. I don't see any reason for this dip other than the usual max pain type movement on low volume. I was going to avoid selling calls for next week anyways, and now the puts are looking very nice. I am going sell some BPS with the sold prices at $720 and 700 probably - I'll probably wait a little longer to see where the bottom will be (?735/740).

 

[Mokuzai]

Max Pain tractor beam activated.

 

[bkp_duke]

Every stock I watch is showing the same sharp downtrend.

Some news I missed that has macros tanking? Anyone heard anything?

 

[stealthyc]

That's quite a chunk of premium, exactly the brand of BPS I want to start dipping my toes in.

Mind if I ask what kind of cash I would need sitting in an IRA(spread eligible) to cover a trade like this?
Also, what's the worst case scenario look like if the world imploded and TSLA goes to $650 or $550 next Thursday?

Buying power required for spreads is (spread width - premium) * 100, so ($100-$5) * 100 = $9500

The spread is a gradient of loss, so at 650, the lost would be ~9500/2, at 550 it would be full loss of $9500

 

[corduroy]

That's quite a chunk of premium, exactly the brand of BPS I want to start dipping my toes in.

Mind if I ask what kind of cash I would need sitting in an IRA(spread eligible) to cover a trade like this?
Also, what's the worst case scenario look like if the world imploded and TSLA goes to $650 or $550 next Thursday?

Max risk: $10,525.00 at TSLA$580.00 (if you didn't manage).

 

[phantasms]

if one is buying a LEAP right now with the intention of flipping it on Mon, what would be a not-advice?

thanks in advance!

I bought a 10/1 $850 for $196. But don't ask me it's my first time and I have no idea what I'm doing. Weeeeeee!!!! lol

 

[M3Rider]

A boring day suddenly turning into exciting and low 9/17 strikes with high OI suddenly seem more reachable

 

[ReddyLeaf]

Max Pain tractor beam activated.

Damn those MMs. I just rage bought more shares (13 total this week), running down my free cash to less than $1000 in one ALL accounts. I’m trying to build up cash for buyback/rolls and peace of mind. Just can’t let this drop go unanswered. Good news, however, is that I only need 15 shares more in that account to round out and allow an additional CC.

Edit: Damn it , I should have waited on buying back c755s. Definitely left several $3k on the table there. Edit: bought more shares at the bell. Overall a very good options week, clearing 4-5x my weekly living expenses).

 

[TheTalkingMule]

Buying power required for spreads is (spread width - premium) * 100, so ($100-$5) * 100 = $9500

The spread is a gradient of loss, so at 650, the lost would be ~9500/2, at 550 it would be full loss of $9500

Max risk: $10,525.00 at TSLA$580.00 (if you didn't manage).

Thank you both. I will endeavor to answer my own questions when time is not of the essence. Long live the wheel thread!

 

[Yoona]

below 750 is good!
i have lots of -c750 that i am ok to get assigned, but prefer not if possible

 

[corduroy]

That was impressive. I'll never doubt Maxpain again.

 

[M3Rider]

I'm letting one of my p740 minus $5 premium exercise, good enough price before Q3. Although next week may not look as good, who knows.

 

[stealthyc]

That was impressive. I'll never doubt Maxpain again.

Except all the weeks it doesn't align with the stock price which is most

 

[EnzoXYZ]

Just before market closed opened BPS 680/650 in IRA. Will look to add the call wing for IC Monday.

Sad news with my SpaceX investment as I wasn’t able to invest due to my wife’s work restrictions. Good news is the margined shares of TSLA I sold frees up more puts.

 

[InTheShadows]

We are up $2.70 for the week.