Wasn't expecting to close my 880s and 900s so quickly. Don't mind if I do.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Knightshade
Well-Known Member
Just to close out the story of those 32 $600 strike Dec 2021 calls in an IRA.
Sold near, but a couple bucks short of, todays high (so far) at $218.75
Rebought shares with proceeds (~700k) near todays low (so far) at $786.40 so ended up with 890 shares (the calls having been acquired from the sale of 800 shares a few months ago).
% return on a cash basis pretty good overall (over 50%), even if it's only a bit over 11% return from a "# of shares" basis.
Sold near, but a couple bucks short of, todays high (so far) at $218.75
Rebought shares with proceeds (~700k) near todays low (so far) at $786.40 so ended up with 890 shares (the calls having been acquired from the sale of 800 shares a few months ago).
% return on a cash basis pretty good overall (over 50%), even if it's only a bit over 11% return from a "# of shares" basis.
AquaY
Member
I think we have some profit taking which is driving the price down. Macros certainly are helping that as well.
I look at these trades as having a less than 10% probability of needing to manage.
I may have left a little on the table but they were good premiums. ( not compared to selling them on Friday of course). I may do some more today and save some $$$ for tomorrow
ChefBoyardee
Member
Closed my 680/650's and 700/650's that I opened EOD Friday for roughly 7% return on most of my available buying power
Closed my double calendar for 65% RoC (A test of the strategy - I think I might do more of these)
Closed some bear call spreads for a small loss
Opened 750/740's and 730/710's, and saving some margin now to see what happens w/ the market later today or tomorrow
What a great morning
Closed my double calendar for 65% RoC (A test of the strategy - I think I might do more of these)
Closed some bear call spreads for a small loss
Opened 750/740's and 730/710's, and saving some margin now to see what happens w/ the market later today or tomorrow
What a great morning
closed my 700c & 370c that would have expired this friday when we hit > 800.
Still hesitant to enter other positions as i fear a dip down to 770/750 before we rise again.
Doubled down on the 750/700 BPS for this friday on the dip, though. 4k in less then 1 week - i'll take it
Still hesitant to enter other positions as i fear a dip down to 770/750 before we rise again.
Doubled down on the 750/700 BPS for this friday on the dip, though. 4k in less then 1 week - i'll take it
For those who are closing their very profitable BPS that were entered last week, are you waiting for a dip to re-enter this week or are you looking to enter next week already?
i will roll on thu/fri
I personally am letting the theta burn on my BPS this week as it's only at 70% - $720/$655 and want to wait for over 90%
Also - a huge continued thanks to everyone here.
Wife just retired at 41 years old (last day was Friday) - we have had a refresh X on order for a while for her, but thanks to this thread.......
I just ordered a little treat for myself!
Model S Plaid on order!
Also - a huge continued thanks to everyone here.
Wife just retired at 41 years old (last day was Friday) - we have had a refresh X on order for a while for her, but thanks to this thread.......
I just ordered a little treat for myself!
Model S Plaid on order!
Nice. I can’t day trade in my IRA but managed to get a bit lucky, near this AM peak. STO 10/08 c830s at $6.00. Must wait until tomorrow or later to close. Also closed a 10/08 700p at 50% profit in another account and rolled to p720. Probably should have let it ride, but had some extra cash in the account to back the p720 anyway. Also, not that anyone wants to do this, but I sold a 10/15 c775 at $42.00 near the peak. This was a preset day order last night assuming a big jump & IV rise this AM, followed by the classic MM push down for the next week or so. It was adding to some others already rolled into last week. I’m planning to buyback and roll them all forward as long as I can keep up. Just not enough free cash currently to buyback all at once, so I’m just hoping bump along, buying 1-2 during a local low and selling the next strike higher at a local high. All this work for less than 1%/wk. I’m really contemplating opening a taxable brokerage, but really don’t want to mess with my taxes again this year (already did a larger IRA to ROTH conversion than I was originally planning).
Edit: Others thoughts: what are the chances of a temporary MM push down to 750 or even 730 this week?
My take on taxes....Uncle Sam never takes 100% from you...why sit out on XX% if you think you can get it?
I *almost* closed out my puts this morning for 80%. I kept looking to see what else I could replace that trade with and nothing was worth the extra $500 it would have netted me. At this point, barring a massive run up, I will be riding my puts to Friday.
corduroy
Active Member
None of my BCSs filled this morning, I was too aggressive with my bids. But once the dip came along I added more BPS. I've got a couple more orders in for 10/8s if the dip keeps on dipping, but I'll wait to see how the week goes before doing too much more.
STO x5 10/8 720/620 @$3.50
STO x5 10/15 700/600 @$6.00
STO x5 10/8 720/620 @$3.50
STO x5 10/15 700/600 @$6.00
On E-trade I think I do 5 day trades per week in my IRA before they do anything. A taxable account would allow you to tap into margin if you want to boost your cash flow if you so desire.
I broke my don't get greedy rule and sold a lot of BPS 740/690 for Friday near the open this morning. Looks like we might end Red today. Hopefully the rest of the week will be green and I don't have to roll them....
Moved the 20x $650/$600 BPSs up to $690/$640 BPS for a small additional credit of $0.75 per contract. Also rolled my $690 puts up to $720. Will let these ride for the week.
Sold $880 covered calls for some "gravy" early this morning at $0.95 per contract. Will look to open some more BCSs later this week to hopefully cap off what is shaping up to be a great week for me. (fingers crossed)
InTheShadows
Active Member
All of my bps I sold last week executed around 10am with 80% GTC orders except for my one I dare you spread.
Reopened most with the short leg at 730 during the MMD(?) between 11:30 and noon.
Already hit almost double my weekly target and monthly target on the second trading day is sitting at 38.8%. If everything I sold this am closed at 80% I’ll be at 56% monthly target by the end of this week.
Didn’t do anything with calls or bcs yet. The bad macros are dragging tsla pretty bad IMO. If the macros were in our favor I think we’d be at 825ish. If macros get better throughout this week I still think we can get there before the shareholders mtg.
Reopened most with the short leg at 730 during the MMD(?) between 11:30 and noon.
Already hit almost double my weekly target and monthly target on the second trading day is sitting at 38.8%. If everything I sold this am closed at 80% I’ll be at 56% monthly target by the end of this week.
Didn’t do anything with calls or bcs yet. The bad macros are dragging tsla pretty bad IMO. If the macros were in our favor I think we’d be at 825ish. If macros get better throughout this week I still think we can get there before the shareholders mtg.
Closed everything today soon after market open, each one at around 75% profit. Not bad for one weekend and about 2 hours of market open time
Then opened new bull put spreads for this friday:
- 750/+650, $4,25 credit
- 740/+690 , $2,59 credit
I might tighten these or raise strikes to more aggressive.. lets see how this week goes. Looking at the charts it looks quite a safe bet we'll end up somewhere between 750-800.. but I'm not willing to sell any calls right now. Premiums on the strikes I'd be comfortable selling (>850 at least) are just not worth it..
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