Interesting price action on puts for next week expiry, have barely gone down relatively. Someone is loading up? What do they know?
-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
I got absolutely creamed picking up pennies in front of the steamroller today:
STO -760c/770c @ $1.25, ended up closing @ $9.25 or so.
No more risky spreads on a Friday hoping for the MMs to step in for me. I kept thinking that we'd see an end of day dip to at least 760, then at least 765, then "oh well, I'm already at max loss for the spread, I'd might as well see what happens". One dumb trade ruined my whole week, unfortunately. I guess I underestimated either Elon saying the chip shortage wouldn't be a problem next year or FSD button release (or both) as a catalyst.
STO -760c/770c @ $1.25, ended up closing @ $9.25 or so.
No more risky spreads on a Friday hoping for the MMs to step in for me. I kept thinking that we'd see an end of day dip to at least 760, then at least 765, then "oh well, I'm already at max loss for the spread, I'd might as well see what happens". One dumb trade ruined my whole week, unfortunately. I guess I underestimated either Elon saying the chip shortage wouldn't be a problem next year or FSD button release (or both) as a catalyst.
Vote on the infrastructure bill looks like it's not going to go well, which could torpedo EV credits is the only thing I can think of that's brewing. We can't have an "accidental" FSD crash yet because the button will take at least a week to give it to anyone new.
after a lot of rolling & getting in & out of things this week, i am now all set up for next.
- 790lcc (rolled from 765 this week for free. maybe needs another roll... is against 730c, so assignment is no problem).
- 750/670 BPS (already +25%)
- rolled 8/10 730c -> 21/17 800c. Want to sell 1/10 805c against it if we explode monday.
- some 8/10 700c
I am glad that this week is over... I was in bad pain on monday. -88k on monday alone. Ended this week at (currently) +8k ..
Now onto higher SP!
For this monday i have plenty of margin buffer in case we have a down-day... as the last 2 weeks ...
edit: also achieved my target of having higher %-gain in my portfolio than TSLA has points gained....
- 790lcc (rolled from 765 this week for free. maybe needs another roll... is against 730c, so assignment is no problem).
- 750/670 BPS (already +25%)
- rolled 8/10 730c -> 21/17 800c. Want to sell 1/10 805c against it if we explode monday.
- some 8/10 700c
I am glad that this week is over... I was in bad pain on monday. -88k on monday alone. Ended this week at (currently) +8k ..
Now onto higher SP!
For this monday i have plenty of margin buffer in case we have a down-day... as the last 2 weeks ...
edit: also achieved my target of having higher %-gain in my portfolio than TSLA has points gained....
corduroy
Active Member
Closed at 48% profit. That was the hardest I've ever worked for a little beer money. I'll leave the expiration day trading to Lycanthrope from now on.
dc_h
Active Member
I'm such a tool! I took my own advise until this morning when we ran up to 760 and figured that was the top and sold two 770 calls and did not close my 765 calls when I had a chance. Got called away at 230, by my dog, who needed a walk and now I'm spinning the wheel for next week, when we may go nuclear on fundamentals. Hopefully we have a Monday short attack before rebounding and I can buy back in. I also neglected by sell more BPS, figuring mandatory Monday morning dip would be fine. When your brain speaks, listen!
On the bright side, I added 3 March 2022 500 calls. There is almost no time value, so I get a 1 to 1 climb in price, versus longer dated calls that may not react as cleanly. I may add more on Monday, instead of buying shares back.
I sold a few 800cc and 820lcc's. I have a few 700 puts open for next week and the following that are really green. I hope I don't regret selling the cc's today.
Amazing today for my HODL shares and I do a fraction for options, but hard for CC's that I had to roll to 10/1 and keeping my fingers crossed.
5x $750 rolled to 10/1 for -$1.10
10x $755 rolled to 10/1 for +$12 (these were well ITM this morning and I should have BTC then at $744. Had my finger on the trigger for the lot! Live and learn.)
Oh boy, how's everyone doing?
So this is the mayhem that happens when Friday is very very green, huh?
Personally I ended up down a comically small $52.05. My first red week of seriously doing this for 11 weeks.
I had a 770 I let expire today. So far the shares still seem to be in my account but who knows. How long do they have to execute again? 5:30PM Eastern?
I rolled to an 800 and an 830 for next week. Honestly I'm hoping the call executes so I can start with puts.
...so much for nor selling anything for next week.
My 770 I opened yesterday had a low today of $0.04 and later on a high of $4.86. I had set a buy to close of 0.01 but, clearly, I should just close it in the future when around ~95% or so.
So this is the mayhem that happens when Friday is very very green, huh?
Personally I ended up down a comically small $52.05. My first red week of seriously doing this for 11 weeks.
I had a 770 I let expire today. So far the shares still seem to be in my account but who knows. How long do they have to execute again? 5:30PM Eastern?
I rolled to an 800 and an 830 for next week. Honestly I'm hoping the call executes so I can start with puts.
...so much for nor selling anything for next week.
My 770 I opened yesterday had a low today of $0.04 and later on a high of $4.86. I had set a buy to close of 0.01 but, clearly, I should just close it in the future when around ~95% or so.
I'm glad I picked -780C for the top of my IC's and was able to close everything out. Looking forward to a fresh start next week with an extra $193k to play with.
Please tell your dog, sincerely, with a heartfelt hug “It’s not your fault”
I got burned on calls. Waited too long and ended up rolling -765cc to -785cc 10/1 @0.
Need to think what to do about this. If there's any drop next week, may have to buy them back at a loss that might wipe out bps gains for this week. If sp keeps going up...even worse
Sold 10/1 100x bps -700/670 @2.70 this am
And 10/1 100x bps -700/660 @2.17 at close.
Not sure about beta/button - if Tesla can access the driving history for the week before, then we may have accidents next week. If they can only collect for the week after the button, then not a concern for next week.
Need to think what to do about this. If there's any drop next week, may have to buy them back at a loss that might wipe out bps gains for this week. If sp keeps going up...even worse
Sold 10/1 100x bps -700/670 @2.70 this am
And 10/1 100x bps -700/660 @2.17 at close.
Not sure about beta/button - if Tesla can access the driving history for the week before, then we may have accidents next week. If they can only collect for the week after the button, then not a concern for next week.
You may get a message in a day or two that your shares have been sold. I hope you had a chance to say goodbye
They know they were loved. And, with luck, I’ll see them again.
There was a Tweet where Elon confirmed the 7 days of spy games starts once the button is pressed.
Welp, yeah had to roll a bunch of calls and may have to roll up and out for a little bit. Won't be a problem if I can continue to offset that by selling puts. Sold 10x P$740's for next week and will roll them closer to the money if this upswing persists.
Selling puts feels like picking up pennies (or pounds) behind the steamroller on days like this.
Selling puts feels like picking up pennies (or pounds) behind the steamroller on days like this.
Last edited:
InTheShadows
Active Member
This time I have decided to wait until next Monday to open new positions. I believe I've been burned the last 2 out of 3 times I sold puts into heavy Friday positive movement. Always has worked out ok in the end, so maybe it doesn't matter, but I'll try it differently this week.
dc_h
Active Member
I was so patient on Monday, waited for the drop, sold my BPS and sat on my hands all week. My best week with options, but a little bruised by the dumb call action. If we get a dip on Monday, I'll be fine. Adding the 500 calls helps too. My goal is to add 20% to my shares. I don't have a strict timeline, which might make me take bigger risks than I need to. Just steady accumulation and some spare cashflow.Please tell your dog, sincerely, with a heartfelt hug “It’s not your fault”
Similar threads
