Wow, DOTM Jan 2023 options are up 50+% this morning.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
alterac000
Member
I had 1000/1050 closed out a few minutes ago for $7 for a $6 loss overall.
Had some leftover calls to sell against and sold 1100ccs for $6. If we end below 1100 this week then breakeven from 1000/1050 loss. If we exceed 1100, I'll be forced to resolve (outta margin) and at least get a better price for my calls by end of week. Both scenarios better than max loss of the 1000/1050 which is looking possible with 1000 delta 0.35, 1050 delta at 0.19. Looked at some roll options but they were pretty poor, best I could find was rolling to 1025/1075 next week for 0, which was/is changing by the second.
Rolled 10/29 -c1000/+c1100 to 11/5 -c1025/+c1150. Rolled -p800/+p700 to 11/5 -p900/+p775. Flying a little close to the sun - I'm getting more aggressive with the put side because the pressure feels like it's on the call side. Maybe not the right call, but we'll see. Also sold some CC -c1050 and -c1100 for this week.
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I'm very wary to write BPS at these levels - has been a bigly rally since mid-August, I wouldn't be surprised to see a sudden and violent dip at some point
Just sayin', be careful...
Just sayin', be careful...
rolling up to the 850/900s makes me a little nervous if we have a reversal. Note to future self - stay 15% from SP, especially when the stock is making moves like it was end of last week.
corduroy
Active Member
It happens to all of us. That double peak fooled me too.
I'm glad I didn't panic (too much), and haven't rolled the 1000/1050 spreads yet. I did make extra premium rolling up some of my BPS. Now I have roughly 1/4 with short legs at 900 and another 1/4 at 880. These could make me nervous for a drop in the next 4 days. The other half are 800 and 790 short legs, so I feel really good about those. Almost 2 hours of continuous trading this morning. You can't do this if you have a real job too. You will lose your shirt if you can't be at the computer when stuff starts happening!
first time i actually did the trick of rolling long puts (+p710 into +p790) for the purpose of returning more margin room back to me
it was fun to see a relatively cheap move (38 cents) open up the account to more possibilities of earning credit
it was fun to see a relatively cheap move (38 cents) open up the account to more possibilities of earning credit
BrownOuttaSpec
Active Member
Let's say you have a friend with a nice chunk of 6/22 and 6/23 leaps with strikes of $700 and $850 respectively, and said friend could handle more risk. What would you say he should roll those to? IRA/ROTH money so no tax concerns.
@generalenthu - what are your thoughts on the possibility of a gamma squeeze given the recent action?
bkp_duke
Well-Known Member
Rolled up about 75% of my BPS expiring on 10/29:
800/825 to 865/890
790/815 to 855/880
Premiums were pretty decent, about 1/3 of what I opened the positions for to begin with.
800/825 to 865/890
790/815 to 855/880
Premiums were pretty decent, about 1/3 of what I opened the positions for to begin with.
E-trade will rearrange your positions depending on what other position you have. You can "custom group" them the way that you place the orders if you like.
Yes, and short squeeze. Potential serious pain for my 1000/1050s. The problem is that means there will eventually be some sort of drop, which will take out aggressive BPS at some point as we keep rolling up.
BrownOuttaSpec
Active Member
Perfect, thank you! Makes it way easier to keep track of.
Has anyone mentioned that this thread is an invaluable resource yet?
(maybe only 100x times, right?) I 
everyone here!
I have a few 1000/1100 BCS for this friday as well. With a $100 spread, one option is to roll the short leg to 1050 and double the number. Is this possible to do in one roll order? I’m on IBKR, and on tws I can’t seem to adjust the quantities of the individual trades in the roll, only the total. Does that make sense?
It is invaluable & a great resource for a newbie like myself. I appreciate all the posts & the sharing of knowledgePerfect, thank you! Makes it way easier to keep track of.
Has anyone mentioned that this thread is an invaluable resource yet?
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