I dont think it was as all macros dipped at that time and $TSLA volume only substantially increased in the last 4 min of that dip. But I do think that EM is selling today based on overall volume compared to last week.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
chiller
Member
Got to my computer to see the stock had fallen off a cliff and was at 1150. Sold 5x Nov26 995 PUTs for 3.10. A couple of minutes later my wife called me back to have dinner, so I BTC the same for 2.00.
Nice quick beer-money trade.
Nice quick beer-money trade.
Opened a strangle today selling 20 CCs 26/11 at 1450 for 1.25 credit at the height and sold 20 puts 26/11 920 strike for 1.05 credit when the dip started to recover. Low premium but as far as it can be because I’m really busy Wednesday and won’t be able to manage losing positions.
Also rolled my 17 AAPL CCs 165 17/12 To 170 14/1 for a 0.50 credit because they got ITM this morning. I originally collected a stupid 0.1 premium for 3% OTM calls I sold when the stock was $150 and now I am rolling a $8500 losing position over and over to $&@ing eternity because AAPL gained 10% in one week. At some point when the stock will be $250 I will just let my shares called away and learn my lesson and stop rolling my 5.00 premium calls that will hunt me down for the rest of my life. At least there is no impact on my margin requirement since they are covered calls lol. And they thought me not to be stupid.
Also rolled my 17 AAPL CCs 165 17/12 To 170 14/1 for a 0.50 credit because they got ITM this morning. I originally collected a stupid 0.1 premium for 3% OTM calls I sold when the stock was $150 and now I am rolling a $8500 losing position over and over to $&@ing eternity because AAPL gained 10% in one week. At some point when the stock will be $250 I will just let my shares called away and learn my lesson and stop rolling my 5.00 premium calls that will hunt me down for the rest of my life. At least there is no impact on my margin requirement since they are covered calls lol. And they thought me not to be stupid.
bkp_duke
Well-Known Member
Were we looking at the same graphs? There was high volume for TSLA during the sell off, and it was very concentrated to a few minutes.
Here is a smattering of some stocks I watch in addition to TSLA:
I'll be watching after hours for Form 4 filings from Elon, and will be very surprised if that isn't another ~900k shares he sold just like on the past few Mondays/Tuesdays.
How the AAPL CCs looking now?
Have a feeling the macros set up for downdraft tomorrow. Think we will see more red. Bought some short term QQQ puts.
As to how it affects TSLA, have no clue. I will reiterate that I believe Elon was selling today. Lessee what posts after hours.
Closed 850/900 BPS at 80%. Entered a 920/820 BPS on the dip, but exited shortly after the rebound as I didn't want to tie up my ability to manage my BCS.
Sitting on my hands with an 1120/1220 and a 1300/1350 BCS. I have been running P&L calculators most of the day on potential rolls, flip rolls, and other management, but just haven't really been ready to pull any of those triggers. Where I am currently landing on potential management of the 1120/1220 position is either roll and widen (again) to 1150/1300 or to flip roll to a 1150/1250 BPS. Neither are positions I'd be happy with right now.
Has been some fascinating price action today. We opened a gap this morning (1162 to 1138), partially filled the gap above (1197-1208; we filled 1197-1202, still $6 to go for a full gap fill) and then promptly closed the gap below that was opened on the gap up today (fully closed at 1138). I would be a little happier with the full 1208 fill to get that overhang off the chart. VIX seems to be flashing a marco pullback/correction, and the Qs have seemingly begun their roll-over.
We'll see what tomorrow brings!
Sitting on my hands with an 1120/1220 and a 1300/1350 BCS. I have been running P&L calculators most of the day on potential rolls, flip rolls, and other management, but just haven't really been ready to pull any of those triggers. Where I am currently landing on potential management of the 1120/1220 position is either roll and widen (again) to 1150/1300 or to flip roll to a 1150/1250 BPS. Neither are positions I'd be happy with right now.
Has been some fascinating price action today. We opened a gap this morning (1162 to 1138), partially filled the gap above (1197-1208; we filled 1197-1202, still $6 to go for a full gap fill) and then promptly closed the gap below that was opened on the gap up today (fully closed at 1138). I would be a little happier with the full 1208 fill to get that overhang off the chart. VIX seems to be flashing a marco pullback/correction, and the Qs have seemingly begun their roll-over.
We'll see what tomorrow brings!
Some creative trading today..
I had a few bcs of -c1100/+c1150, these obviously opened at max loss. Well in fact it's an iron butterfly, +p1050/-p1100/-c1100/+c1150.
So flipped one itm bcs contract to itm bps -p1250/+p1200, this took some $3 debit. Expiry same, 11/26. Then sold a 11/26 bcs -c1250/+p1300, $5 credit, making this another butterfly.
Dunno how this will go, but it's an interesting experiment in trade management.
I had a few bcs of -c1100/+c1150, these obviously opened at max loss. Well in fact it's an iron butterfly, +p1050/-p1100/-c1100/+c1150.
So flipped one itm bcs contract to itm bps -p1250/+p1200, this took some $3 debit. Expiry same, 11/26. Then sold a 11/26 bcs -c1250/+p1300, $5 credit, making this another butterfly.
Dunno how this will go, but it's an interesting experiment in trade management.
When we reached 1200 I sold 5 c1500 12/3 for $4,70. Those are already down to $2.60. A bit less fortunate was my timing - at 1185 - on rolling half of my 20 p1000 12/3 to p1025 for $2.25. Still happy though with the overall position.
sold them for a 5.00 premium, now worth a 3.30 premium. It’s the first time I see some green on that covered call for 7 days. Now, would have I taken the bet AAPL doesn’t break $170 by mid January? Never. Do I have the choice? Seems like no. So interesting what the futures hold for us. I thought I would learn to save a losing position on TSLA however I am learning how to salvage a $&@?up with aapl.
I found it hard to believe that I could still get $1.20 for selling 1203 1700 calls....
As we bounced at 1200 i sold 1200c for $30. Half auto-closed at $15 (half/half-rule 
), other half closed at $12. Hoping to opening them again this week.
As i am too call-heavy and would have to roll my "leaps" anyway i thought that i could also close them via CC & take the 30$ premium on top
Should not have been that greedy & opened the sell @22 or so instead of 30.. then it would have triggered on the rise after the 1150-dip midday & would be green again. But well.. gains are gains
), other half closed at $12. Hoping to opening them again this week.As i am too call-heavy and would have to roll my "leaps" anyway i thought that i could also close them via CC & take the 30$ premium on top
Should not have been that greedy & opened the sell @22 or so instead of 30.. then it would have triggered on the rise after the 1150-dip midday & would be green again. But well.. gains are gains
I have ITM CCs from 1015-1140 for this week. I find myself getting more aggressive with strikes for my BPS because of the logic that, if the BPS get threatened, then my CCs will expire, so I will still be happy.
On the other hand, I’m wondering if I should treat them independently and stick to my usual safer BPS. Just because I’m ITM on calls, is that a reason to risk going ITM on puts? Curious what other people do in this situation.
On the other hand, I’m wondering if I should treat them independently and stick to my usual safer BPS. Just because I’m ITM on calls, is that a reason to risk going ITM on puts? Curious what other people do in this situation.
Better to stay on the safer side. I have a lot of BPS that were DITM but are now OTM and should expire this week. I sold BCS last week that went ITM on Friday so now have them to deal with. I should have been more conservative on some of the BCS.
I did manage to roll the BCS up and out at the bottom of the dip so hopefully I can have a clean slate next week.
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A bit of a teaser. Hoping to share a fun data stream when the markets open tomorrow. Hope it'll turn out to be useful with a few eyeballs and some crowd sourced wisdom.
Watch this space!
Watch this space!
chiller
Member
Does anyone have experience in salvaging CCs? I absolutely want to avoid getting assigned, because the tax implications will not be great for me. But I'm thinking that as long as I stay far away from running the time-value down, I should be safe?
And it would also not be a problem for me to keep rolling up and out to try to salvage the position, since the alternative is that I do not sell any CCs, so going a long time without any income from rolling out and up will not be any worse than today.
Any wisdom from the big runups would be welcome, thanks!
And it would also not be a problem for me to keep rolling up and out to try to salvage the position, since the alternative is that I do not sell any CCs, so going a long time without any income from rolling out and up will not be any worse than today.
Any wisdom from the big runups would be welcome, thanks!
Either keep rolling for strike improvements (but dont wait too long or risk early assignment) or flip roll (convert them to sold puts or sold BPS) or split roll (roll some of the contracts, use the credit to pay for a better strike improvement on the remaining contracts).
Not-advice
Roll the CC to some multiple bull call spread. You can get a huge strike inprovement this way. But it is adding leverage, so be careful not to dig a deeper hole.
There's also the option of sucking it up, buying them back at a loss and going to work to cover that loss.. which is what you are doing anyway when you do a roll.
Alright, now that the markets are open, here is the fun thing I was working on yesterday.
This page linked below is updated every minute during the trading day and gives the largest option trades for that minute. History is shown from the beginning of the day.
It's somewhat similar to what other paid services like chameleon offer, but I am deriving this from my broker feed directly.
This is still beta and hopefully provides some useful info or sparks some ideas down the line. Let's see.
This page linked below is updated every minute during the trading day and gives the largest option trades for that minute. History is shown from the beginning of the day.
It's somewhat similar to what other paid services like chameleon offer, but I am deriving this from my broker feed directly.
This is still beta and hopefully provides some useful info or sparks some ideas down the line. Let's see.
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corduroy
Active Member
Thanks for sharing this! When you have a moment, would you mind providing some context around why this data is important or how we can use it to make better trading decisions?
Updated to https. It's just an Amazon bucket. Nothing fancy there! Thanks for the heads up though.
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