Maybe? Either that or the 5th. Can’t recall they were very close.Where did you find 1030 calls? Next week?
I can’t believe the MM’s didn’t fill in the call gaps for this week yet.
EDIT: November 12th so a little further than I thought.
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Maybe? Either that or the 5th. Can’t recall they were very close.Where did you find 1030 calls? Next week?
I can’t believe the MM’s didn’t fill in the call gaps for this week yet.
Sorry for the stream of consciousness. I am now daring the market to take some bps money from me. I opened just 5 990-890 bps for 15 each. If I'm going to lose going up, at least I'll make a little more to cover the call spread loss.I'm feeling less sanguine about sitting on my 1000-1050 calls, but it is only Monday. If we go past 1050, I'll make up for the loss. I also have a longstanding 1025-1125 bull spread. If it works, I make 100 on a 10k investment. It's due June 22, but the 1125 leg is rising almost as much as the 1025. Anyhow, will be interesting to see if we just blast straight up to 1200, or find a new base here somewhere. Having a big 150 point gap up seems like an invite for a battle between 900 and 1100 or 1200 the next 2-3 months.
Not advicewith this move, Sep 16, 2022 1050C @ 172.00 seems pretty good priced - asking for opinion
I'll probably be kicking myself at the end of the week for not waiting. Probably 90% chance we are below 1000 on Friday. But if we go higher this week on a squeeze my losses could have gone up another 4X. Couldn't risk it.Definitely squeeze. Closed most of my 1000/1050 at massive loss to prevent a loss that puts me negative for the month. Live to fight another day. I should have closed much sooner.
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.
I closed out my tiny 1100/1150 at a small lose because I had paper hands., I thought 1100 was "out of play" this week, but who knows now with the Hertz news.... Tons of free advertising (and Tom Brady) for Tesla, 100K+ sales ($4.2 billion) and now other car rental companies need to either get on board or get left behind. No one else (VW, Ford, GM) has the production volume to sell to a rental company so Enterprise/Avis/Budget/etc will have to either get on board with Tesla as well or get left behind.I'll probably be kicking myself at the end of the week for not waiting. Probably 90% chance we are below 1000 on Friday. But if we go higher this week on a squeeze my losses could have gone up another 4X. Couldn't risk it.
The problem with coming in close is that now that we had a spike in price. IV is going up. If we head back into even the upper 900’s we will be pushing IV of 70. Drop to the mid to low 900’s and we could see 80. Which is good for selling new positions, but bad for open positions.Sorry for the stream of consciousness. I am now daring the market to take some bps money from me. I opened just 5 990-890 bps for 15 each. If I'm going to lose going up, at least I'll make a little more to cover the call spread loss.
I've now gone full straddle, hoping we can settle the week around 1000, with put spreads from 990-890, 950-870 and 900-850 and calls from 1000-1050. I also have covered calls at 1100, which seemed clever at some point.
*Noteworthy, CNBC has new Tesla experts that like trading (not shorting) the stock.
Doesn't quite work that way. The regression to upper 900's should lower IV.The problem with coming in close is that now that we had a spike in price. IV is going up. If we head back into even the upper 900’s we will be pushing IV of 70. Drop to the mid to low 900’s and we could see 80. Which is good for selling new positions, but bad for open positions.
The spreads I opened up this am are pretty much even and I opened them all when. The SP was between 970 and 980. And we only pulled back to 1016.
I'll probably be kicking myself at the end of the week for not waiting. Probably 90% chance we are below 1000 on Friday. But if we go higher this week on a squeeze my losses could have gone up another 4X. Couldn't risk it.
There will always have been a better trade.
Your $1,000s netted you $44,000 in a week, pretty much my starting income as an engineer back in the day.
And your 1,050 CC are doing better than the 8xx, or 9xx some of us have.
-sincerely bigger id10t
It's still only Monday. In the past, my biggest losses have been from jumping the gun and reacting to big moves, so this time I am going to wait a few days and see what happens. Waiting is not easy though!
Today was the day I chose to open the BCS portions of my ICs Opened them in the morning when the SP was around 975. So +c1200/-c1100 @ the fabulous price of $1.5 each. I thought -p1100 was safe, they are now at -350%. But my overall portfolio is up so nicely that those don't hurt much. I also opened additional BPS at strikes I thought were aggressive and too close to the sun in the AM. +p805/-p905 and +p845/-945 in individual brokerage and +p840/-p940 and +p860/-910. These are quite sticky and not losing value fast enough to make up for the losses on the BCS. I am going to wait on the BCSs to see if these drop off over the next few days. If not, it will be an education in rolling out.I'll probably be kicking myself at the end of the week for not waiting. Probably 90% chance we are below 1000 on Friday. But if we go higher this week on a squeeze my losses could have gone up another 4X. Couldn't risk it.
That sounds like a good strategy to me. I fortunately waited to sell calls until later in the day, for the most part.Sorry for the stream of consciousness. I am now daring the market to take some bps money from me. I opened just 5 990-890 bps for 15 each. If I'm going to lose going up, at least I'll make a little more to cover the call spread loss.
I've now gone full straddle, hoping we can settle the week around 1000, with put spreads from 990-890, 950-870 and 900-850 and calls from 1000-1050. I also have covered calls at 1100, which seemed clever at some point.
*Noteworthy, CNBC has new Tesla experts that like trading (not shorting) the stock.
Definitely squeeze. Closed most of my 1000/1050 at massive loss to prevent a loss that puts me negative for the month. Live to fight another day. I should have closed much sooner.