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Nope, sorry. Came up with that not-advice on my own and I'm not making videos of my trading strategies yet, lol. I started this out by buying maybe 50 deep (600s when the SP was about 650), but that's a little risky, as the SP falling below your strike will mean you need to use margin to sell calls against these. Better to buy calls that are 100 to 150 deep and about 2 months out, then set limit orders to roll when the new weekly becomes available. If that price isn't attractive, or you want less work, you can just roll a month at a time for ~$8. You don't want to wait too long to roll, as the price will go up to more like $3 a week closer to expiration. Glad to answer any questions though.I look forward to viewing this video a little later;
Do you have any recommended videos to help newbies walk through your LEAPS strategy?
Is this your way of asking me to subscribe and hit the like button?Nope, sorry. Came up with that not-advice on my own and I'm not making videos of my trading strategies yet, lol.
Thanks , but nothing yet.Nope, sorry. Came up with that not-advice on my own and I'm not making videos of my trading strategies yet, lol. I started this out by buying maybe 50 deep (600s when the SP was about 650), but that's a little risky, as the SP falling below your strike will mean you need to use margin to sell calls against these. Better to buy calls that are 100 to 150 deep and about 2 months out, then set limit orders to roll when the new weekly becomes available. If that price isn't attractive, or you want less work, you can just roll a month at a time for ~$8. You don't want to wait too long to roll, as the price will go up to more like $3 a week closer to expiration. Glad to answer any questions though.Thanks, but nothing yet.
As a Pastor, how do you have time for all of this trading?Nope, sorry. Came up with that not-advice on my own and I'm not making videos of my trading strategies yet, lol. I started this out by buying maybe 50 deep (600s when the SP was about 650), but that's a little risky, as the SP falling below your strike will mean you need to use margin to sell calls against these. Better to buy calls that are 100 to 150 deep and about 2 months out, then set limit orders to roll when the new weekly becomes available. If that price isn't attractive, or you want less work, you can just roll a month at a time for ~$8. You don't want to wait too long to roll, as the price will go up to more like $3 a week closer to expiration. Glad to answer any questions though.
I'm an ordained minister, but I work in a denominational governing body (from home), not a church. I've also got a small business, so I'm a busy guy, but I've got people helping me do my job. That's why I'm not active on the forum during the day much though.As a Pastor, how do you have time for all of this trading?
Interesting. What's your plan on managing this if needed to?my 7-leg Iron Condor:
View attachment 712573
a little bit skewed off-center towards -p720 but not panicking yet
View attachment 712574
before -p720 goes itm, roll BPS into different weeks but cash out the calls first 1) to prevent initial doubling of margin usage and 2) to stay away from the sp rise the next few weeksInteresting. What's your plan on managing this if needed to?
Looks a bit of a nightmare to manage so many strikes..
Has anyone tried the "Zebra strategy" (aka a back ratio spread) for leaps?
Setup:
Buy 2 ITM .70 delta leap calls
Sell 1 ATM .50 delta leap call (same expiration)
Main benefits:
You end up essentially paying no extrinsic value for the LEAP, so lower break even.
The net position is .90 delta
Should be tradable in an IRA
Here's a very comprehensive article about the strategy.
There is probably no need to put on ZEBRA with greater than 90 DTEs. The further out you go, the greater the exposure to volatility changes, which are difficult to predict.
The further out you go, the larger the vega and the more capital is required as well.
I agree completely and totally...starting next week! **IF** the button is enabled and the 7 day insurance 'good driver' behavior clock starts ticking. But regardless, we'll start to get rumblings of how gigantic Q3 and September has been for China production, which should kick off some heavy buying from retail investors.I think we're out of the "max pain rules everything" doldrums of summer. Volume is increasing. SP is pretty much where it was before a blowout 1Q deliveries report. If things stay flat 4 moreonths, our PE ratio hits ~120....with 100% growth.
I get the feeling "the system" has just kept TSLA flat through all this good news so the big boys can position themselves for what they knew would be blowout 3Q & 4Q earnings.
I bring this up as an optimists warning in relation to selling CC's. Be careful from here til February!
Max pain didn't rule everything during the summer either, it's a narrative that doesn't hold up when the data is examined.I think we're out of the "max pain rules everything" doldrums of summer. Volume is increasing. SP is pretty much where it was before a blowout 1Q deliveries report. If things stay flat 4 moreonths, our PE ratio hits ~120....with 100% growth.
I get the feeling "the system" has just kept TSLA flat through all this good news so the big boys can position themselves for what they knew would be blowout 3Q & 4Q earnings.
I bring this up as an optimists warning in relation to selling CC's. Be careful from here til February!
"Everything" is perhaps a strong word. Mire accurately I would say volume was so low that MM's were in complete control from mid-April til the week after Labor Day. I mean, it's been nothing but two astonishing quarters and the SP was floating around at 30% off the ATH.Max pain didn't rule everything during the summer either, it's a narrative that doesn't hold up when the data is examined.
I think we're out of the "max pain rules everything" doldrums of summer. Volume is increasing. SP is pretty much where it was before a blowout 1Q deliveries report. If things stay flat 4 moreonths, our PE ratio hits ~120....with 100% growth.
I get the feeling "the system" has just kept TSLA flat through all this good news so the big boys can position themselves for what they knew would be blowout 3Q & 4Q earnings.
I bring this up as an optimists warning in relation to selling CC's. Be careful from here til February!