so, still to go, acquire, 3,659,347 shares and disperse 1,868,182 (934,091 x 2) shares B 4 new years?
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
This reads to me as he is not done.
I am reading this as more 10b sales are coming. I think he mentioned sold in the interview because it's a market order in the future outside his hands.
At least that's how I read it, and I took my marbles home for the day. Back to my core position.
Same for me.
Worst things done this year (so far):
1. started with ~1m. totally f'ed up the rally to 550 -> low of 78k (while moving money out of stocks into real estate for my wife) => 90% down
2. rebounded HARD with the rally to 1240. topped at 2.4m. Down to 650k at the lows yesterday. EVEN THOUGH 500k are in various ARK ETFs introduced as a security measure against (1)! => 75% down
3. rebounded today to 1.15m in the high side.
I promise next year i will be smarter and not that degenerate to gamble my future away .. -.-
I think i am not that good at trading.. i mean .. i win big & then lose big. OTOH the downsides seem to increase as well..
Knightshade
Well-Known Member
BTW curious for anyone who does anything similar to my above....
How much (if any) cash should be left on the sidelines to handle weirdness, since you can't dump significant cash into an IRA in an emergency?
Just starting out on this roughly 55% of account value is in the LEAPs.... of the 45% that was then in cash I used about half that to back -900/+800 12/31 put spreads at roughly $4/sh- with the other half kept in reserve since it's my first time doing this in an IRA.
Is that leaving too much cash doing nothing? Not enough?
Impatience... re-entered 880/830 BPS 12/31 for an additional $1 credit
Is the jan 28 (originally 1050) now at 1100? Trying to understand the roll aspect, is it no longer a calendar spread if left at 1050?Update on that trade:
as we reached 1010 i rolled the dec 31 1050 to jan 7 1100. Effective cost-basis now: 1.18$. Next roll @1080 SP (or expiry before jan 7). Basically i got the jan 28 1050 call for "free" now
On the big jump today I entered 1100 strike cc for 12/31 - about $7.
My thinking is that if needed I'll roll for a better strike and I should be able to roll to 1200 or 1250 (ATH territory) pretty easily. And if this turns out to be a head fake then I've got a bit in play.
Nothing open on the put side. If this isn't a head fake then I'll be missing out on some put premium as the shares are rising. I'm ok with that. I would need to be at the 900 strike for next week for the premium to be more than trivial and that is too close for me right now. I think I'll need to see another visit to $900 share price and bounce off of that to feel like 900 is really a solid support.
My thinking is that if needed I'll roll for a better strike and I should be able to roll to 1200 or 1250 (ATH territory) pretty easily. And if this turns out to be a head fake then I've got a bit in play.
Nothing open on the put side. If this isn't a head fake then I'll be missing out on some put premium as the shares are rising. I'm ok with that. I would need to be at the 900 strike for next week for the premium to be more than trivial and that is too close for me right now. I think I'll need to see another visit to $900 share price and bounce off of that to feel like 900 is really a solid support.
no. The short 1050 for dec 31 got moved to jan 7 1100 for a small credit. It is now a diagonal spread instead of a calendar/horizontal spread
Idea is to start horizontal and then stay horizontal for as long as sensible. If SP rises, then diagonalize up until the short either expire or you end up with a vertical that you then handle like a "normal" spread and take profits at the end.
The horizontal -> diagonal -> vertical route on the short call captures way more premium on the way if SP stays level or rises, but loses more, if SP goes below the chosen strike at the further expiration.
Updated my spreadsheets, and realised that cost basis for those assigned shares is actually 1077. The position had accumulated $100 credit, and I got $73 from closing the long legs of the spread.
So not so grim after all.
So not so grim after all.
Having a long position to support several covered calls, couldn't i sell a call and keep rolling similarly to capture the credit? i save the premium paid for the long call.no. The short 1050 for dec 31 got moved to jan 7 1100 for a small credit. It is now a diagonal spread instead of a calendar/horizontal spread
Idea is to start horizontal and then stay horizontal for as long as sensible. If SP rises, then diagonalize up until the short either expire or you end up with a vertical that you then handle like a "normal" spread and take profits at the end.
The horizontal -> diagonal -> vertical route on the short call captures way more premium on the way if SP stays level or rises, but loses more, if SP goes below the chosen strike at the further expiration.
InTheShadows
Active Member
Yes I too he probs this am. Was really frustrating. I ended up launching activetrader pro to get my orders filled.
chiller
Member
Look into it, you might be able to set a LIFO order with IBKR.
I can, and I'm in scandinavia.. our local brokers don't allow lifo.
Same issue here in Germany - it doesn't matter if IBKR can set it to LIFO (and they can), the tax man only knows FIFO....in an audit, you're eff'd.
I'd be surprised to see a sale tomorrow, then next week I'd be looking for a "Santa Rally" plus P&D FOMO, which should balance out any sells - a bit like we saw yesterday, the market knows it's ending and the hedges stopped front-running it
And now you got me wondering if that LIFO sale was legal or not..
chiller
Member
I'm sitting on Jan 07 800/700 and 850/700 BPS, which I am a bit worried about.
Elon has ~6.3M options he probably will exercise this year. That works out to three more ~2.1 million exercises, probably each paired with 934091 sells.
My best guess is tomorrow + twice next week. How is the volume usually during this time of the year? My fear is that it will coincide with some bad macros and low volume and really push us down.
I think (and hope) that if it falls hard, it will recover hard as well, so a week into the new year might be fine.
Elon has ~6.3M options he probably will exercise this year. That works out to three more ~2.1 million exercises, probably each paired with 934091 sells.
My best guess is tomorrow + twice next week. How is the volume usually during this time of the year? My fear is that it will coincide with some bad macros and low volume and really push us down.
I think (and hope) that if it falls hard, it will recover hard as well, so a week into the new year might be fine.
STO -$980 / +$780 for January 7th - @$44 each earlier today - already up 15%
Felt safe since HF's and MM's stopped with the front running Elon (indicated yesterday)
Nice little EOY trade.
Still have plenty to do next week - Rolled my Buy/Write to $970 from $945 for a $3 credit and the difference in share price and looking to have assigned before EOY.
Closed my 970/770 for 90% today
Closed my I dare you CC's $950 sold for a negative $3 each yesterday - overall a $2 profit each.
Still looking for Leaps!
Total for the year I am up 165% on the portfolio from trading options learned in this thread! (still no presents for anyone but many donations to charity)
Looking for better than that next year but would still be happy with the same results.
Felt safe since HF's and MM's stopped with the front running Elon (indicated yesterday)
Nice little EOY trade.
Still have plenty to do next week - Rolled my Buy/Write to $970 from $945 for a $3 credit and the difference in share price and looking to have assigned before EOY.
Closed my 970/770 for 90% today
Closed my I dare you CC's $950 sold for a negative $3 each yesterday - overall a $2 profit each.
Still looking for Leaps!
Total for the year I am up 165% on the portfolio from trading options learned in this thread! (still no presents for anyone but many donations to charity)
Looking for better than that next year but would still be happy with the same results.
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