Wiki Selling TSLA Options - Be the House

[InTheShadows]

Ok. It looks like there's some effort going on here. lol

I bought back a few CCs at a mild loss. Still have a couple out there at 760 and 765 for the week. I figure if it jumps I'll roll the 765 and let the 760 go. [eeek]

I did the same. I don’t have any short calls now.

I am surprised the action compared to the spy. Looks to me like someone is trying to keep the price at bay.

 

[deerfield]

For those that have Etrade, I noticed something interesting with regards to fees. Etrade allows you to BTC a position .10 or less for free. If this is bundled with another position in the same order, then it'll cost you. For example, if you wanted to close out a 100 BPS for 0.01, it'll cost you $100 in commission. However, if I just close the short side it's free. So depending on the number of contracts that you have, it might be more beneficial to just close the short side and let the long side expire worthless. I'm not sure if other brokers does this also, but something to look for.

 

[BornToFly]

I can't believe how cheap Jan 23 1500s are now. I sold some on 4/26 for $116 on 1/3 of my shares. I should have done it for all my shares. On 5/12 I bought them back for a 50% gain, thinking they were going to recover and I would sell them again. Today they are $20!!! even though the SP is higher today than it was on 4/26. IT IS CRAZY! They are worth 5X less today. I HATE buying LEAPS after losing money on them in the past, but WOW is this tempting. Of course, I'm still mad at myself for leaving several $M on the table back on 4/26 when I didn't sell 3X as many CCs....

 

[AquaY]

Seems many use Wingmantracker for tracking their options trades.
I signed up yesterday and uploaded from Etrade.
2 questions to those that use it:

1) How do you upload trades after the initial CSV?
I opened it yesterday, uploaded and I want to upload my trades that I've done since.

2) I don't think this is possible but I have some positions uploaded yesterday that I need to split legs.
For example I have 30 contracts that I need to split off into 3 different legs ( 1 for 10 1 for 15 and 1 for 5) and then combine those legs with different positions. I have several like this so I would really like to be able to adjust that.

An email to wingman gets a response with links to videos that show how to do it with uploaded trades after the initial upload I guess.
It seems you can do this with new trades via the ADJUST feature but for positions from the original upload ADJUST does not give you the Duplicate and Edit functions necessary to do that. Any ideas?

thanks for any help

 

[Knightshade]

Same concern...

Kinda thinking of doing some pretty aggressive (for me) BPS of like 645/745 for Oct 1, since that'll be immediately before P&D release and in theory JUST before the actual expansion of the beta... seems super unlikely we're lower that day than we are right now....currently offering about $11.50 net credit there.

But short term options between Oct 1 and at least ER at least is gonna be potentially sketchy esp if there's any FSD accidents.

FWIW I did end up doing some of these spreads yesterday... weirdly both sides are currently green (about 15% for the short puts, and almost 30% for the long puts)

Kinda want to do more but only paying about $9 net credit now instead of the 11.50 I got yesterday

 

[Yoona]

Are people reading the price action today as 760 is well defended and "what me worry" or as get out now before the 10:30 pop. lol

i am still iffy with my -c770

last week's wed/thu/fri closings (black) were higher than their pre-market (gray) highs

yesterday's (wed) closing is higher than its pre-market high

 

[ammulder]

I also had some 760 calls for this week that I closed for break-even on the dip just now. I think I could likely have held on for better, but the profit/stress ratio wasn't favorable -- at least not after puts have done so well this week. I did leave some open in my non-taxable account, so we'll see how it goes over there.

 

[euro2012]

Well, I messed up. I had 5x755cc expiring tomorrow, so I decided to put in an order to close them out for a modest gain, just in case there was a morning dip while we were out walking the dog. Instead, amongst the chaos of the morning with dog barking, kids breakfast etc etc I managed to fat finger a BTC order at $7 per contract (Originally sold for $5.5). There is a not so free lesson in taking your time and reviewing things before hastily submitting trades…. Glad (?) I’m not managing much bigger amounts like some of you on here, lol.

 

[phantasms]

i am still iffy with my -c770

last week's wed/thu/fri closings (black) were higher than their pre-market (gray) highs

yesterday's (wed) closing is higher than its pre-market high

Yeah, on that steep dip 10 minutes ago I ended up closing out the last of my calls. Ended up with my first down week. Down 0.06% on my holdings but I average up 0.12% every week. Now that I went through with it, accepting the small loss is far less stressful than constantly worrying about the run-up we all know is around the corner.

Now I can close my ThinkorSwim, finish up work with a StarTrek on in the background, and go for a run in the rain in a few hours. It's all a balance, right?

 

[AquaY]

STO BPS 9/24 + 640/735 @ $1.15 credit
STO BPS 10/01 +605/705 @ $5.06 credit
Haven't sold calls for 2 weeks . Just not liking the premiums for the risks right now

 

[Yoona]

my 7-leg Iron Condor:

View attachment 712573

a little bit skewed off-center towards -p720 but not panicking yet
View attachment 712574

closed this week's IC at 97%

 

[bkp_duke]

Would appreciate "not advice" on this Iron Condor I am considering.

80 x 695/710 800/815 Exp 10/08/2021
I would put a limit order in for 3.75, won't accept less than that at this time.

I'm a tad nervous about deliveries coming out around the first of October, so I would close this position sometime next week.

Interested in it b/c the wings are far enough out on both sides to offer protection, and the premium is pretty darn juicy.

 

[UltradoomY]

Would appreciate "not advice" on this Iron Condor I am considering.

80 x 695/710 800/815 Exp 10/08/2021
I would put a limit order in for 3.75, won't accept less than that at this time.

I'm a tad nervous about deliveries coming out around the first of October, so I would close this position sometime next week.

Interested in it b/c the wings are far enough out on both sides to offer protection, and the premium is pretty darn juicy.

I did this one yesterday - a little wider than yours for $3.90 per contract - it didn't fill till about 2 hours after I entered it.
Now waiting on a fill for my new Iron Condor for week of October 8th exp.
-$685 /+$655
-$830 /+$860
$3.90 credit per contract and keeps me way out in anticipation of P&D report.

 

[UncaNed]

I can't believe how cheap Jan 23 1500s are now. I sold some on 4/26 for $116 on 1/3 of my shares. I should have done it for all my shares. On 5/12 I bought them back for a 50% gain, thinking they were going to recover and I would sell them again. Today they are $20!!! even though the SP is higher today than it was on 4/26. IT IS CRAZY! They are worth 5X less today. I HATE buying LEAPS after losing money on them in the past, but WOW is this tempting. Of course, I'm still mad at myself for leaving several $M on the table back on 4/26 when I didn't sell 3X as many CCs....

Isn't that just a fluke that 2 contracts sold at that price for some odd reason?

 

[Drezil]

rolled the 685/700 BPS part of my IC this week to 720/735 for 0.6$.

No way we will end the week <735.
(Famous last words .. )

I have a 710/680 BPS for 10/1, & an order to move the 710 -> 730 for 5$ open if we dip tomorrow. If not.. than also ok.

 

[ChefBoyardee]

Btw Nike earnings is today after market close (105% IV). I sold a small Iron Condor for some beer money

 

[Yoona]

Would appreciate "not advice" on this Iron Condor I am considering.

80 x 695/710 800/815 Exp 10/08/2021
I would put a limit order in for 3.75, won't accept less than that at this time.

I'm a tad nervous about deliveries coming out around the first of October, so I would close this position sometime next week.

Interested in it b/c the wings are far enough out on both sides to offer protection, and the premium is pretty darn juicy.

i haven't opened 10/8 IC yet but this is my 10/15 (i might regret the -c850)

 

[Chenkers]

Would appreciate "not advice" on this Iron Condor I am considering.

80 x 695/710 800/815 Exp 10/08/2021
I would put a limit order in for 3.75, won't accept less than that at this time.

I'm a tad nervous about deliveries coming out around the first of October, so I would close this position sometime next week.

Interested in it b/c the wings are far enough out on both sides to offer protection, and the premium is pretty darn juicy.

Firstly why 2 weeks out? This puts you past the release of P&D numbers so the stock price could be trading very differently by then. Also if you take out an IC with the share price in the middle of the range you get a relatively low premium. I prefer to open them closer to expiry when I have a better idea of the trading range and sell them closer to one side than the other (expecting a recovery) to get a better premium. The $710 looks pretty conservative but you almost need to be this far out. I would be expecting to roll the Put side up for extra premium closer to expiry.

I also prefer a spread of $25-30 to make them more manageable. I tried some $15 spread IC's this week and they were more erratic and harder to deal with than the $25's. For reference, my benchmark premium for a weekly $25 spread IC opened on a Monday is around $4.50.

 

[phantasms]

Welp, hindsight is 2020. lol

Such odd action today. It all seemed so strong in the morning.

 

[bkp_duke]

Firstly why 2 weeks out? This puts you past the release of P&D numbers so the stock price could be trading very differently by then. Also if you take out an IC with the share price in the middle of the range you get a relatively low premium. I prefer to open them closer to expiry when I have a better idea of the trading range and sell them closer to one side than the other (expecting a recovery) to get a better premium. The $710 looks pretty conservative but you almost need to be this far out. I would be expecting to roll the Put side up for extra premium closer to expiry.

I also prefer a spread of $25-30 to make them more manageable. I tried some $15 spread IC's this week and they were more erratic and harder to deal with than the $25's. For reference, my benchmark premium for a weekly $25 spread IC opened on a Monday is around $4.50.

2 weeks out for better premium and time to adjust, but you may have missed in my post that I said I won't hold the position past 10/1.