scubastevo80
Member
Not a pretty day for our 1/14 -1050/+960s. Likely not going to do anything unless we look like the $1000 breach is a possibility. I think this two day in a row 5% dip is short lived... but not advice and what do I know.
-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
jeewee3000
Active Member
My trades today:
Call side
Rolled back my 1/14 1250cc’s to 1/7 1100cc’s for slight credit (which I rolled forward on Monday)
Put side
STO 2/4 1050p/650p @$65 (wanted time for recovery and a low risk spread that can be rolled as a naked put should things stay bad)
Rolled my 1/7 1080p/990p forward to 1/14 1080p/990p for $11 (this is my high risk BPS)
STO 1/7 1000p/850p @9 (for a quick buck, I think we’re bound to close the week over $1000 but if not I can roll this spread easily)
Call side
Rolled back my 1/14 1250cc’s to 1/7 1100cc’s for slight credit (which I rolled forward on Monday)
Put side
STO 2/4 1050p/650p @$65 (wanted time for recovery and a low risk spread that can be rolled as a naked put should things stay bad)
Rolled my 1/7 1080p/990p forward to 1/14 1080p/990p for $11 (this is my high risk BPS)
STO 1/7 1000p/850p @9 (for a quick buck, I think we’re bound to close the week over $1000 but if not I can roll this spread easily)
I had IB close one of my jan14 1100 put contracts because of margin running out. My margin is mainly TSLA stock, and some cash from options premiums. I wished to keep this contract and would have rolled it over next week if we wouldn't end above 1100, but alas not that option anymore.
Positive about it was that I closed the corresponding 980 put with a "profit"?
I vaguely remember a post on improving margin, but I have to look back on what it was.
Positive about it was that I closed the corresponding 980 put with a "profit"?
I vaguely remember a post on improving margin, but I have to look back on what it was.
The manipulators did force me to buy back at a loss some 850/1050 I had for this Friday that I didn't close when I opened new positions on Monday because I thought my margin requirement was safe. I ended up with too many open positions and had to close them at the open this morning. Well played market manipulators..., well played.
jeewee3000
Active Member
I have a general question about leap covered calls.
Let's say I hold shares and LEAPS and I've sold cc's against all of these at different strikes.
In the event of an executed ITM covered call (let's say one), what will be removed from your trading account: 100 shares or one LEAP?
I've been digging around my brokers platform manuals but can't find anything specific. Before I contact them to ask this explicitly, maybe there is a general rule?
Let's say I hold shares and LEAPS and I've sold cc's against all of these at different strikes.
In the event of an executed ITM covered call (let's say one), what will be removed from your trading account: 100 shares or one LEAP?
I've been digging around my brokers platform manuals but can't find anything specific. Before I contact them to ask this explicitly, maybe there is a general rule?
Buy cheap OTM Puts. For example I bought an 800P+ for this week for $25 and it added $100k to my margin excess. Experiment with a few and you can make some pretty cheap improvements to your margin position.
Don't you love it how the NASDAQ is now back to green (from -1% back to +0.15%) while TSLA is still at -2.8%. There must be a lot of spoofing and capping going on to have kept us held down below the 50DMA for this long.
ChefBoyardee
Member
I had to take the loss on my 1170/1150's to avoid early assignment, which was expected (in hindsight I should have rolled for a debit rather than close, but needed to preserve margin). But damn these 1090/1050's are scary today. Position size is way too big... But it's looking like I may have been right about the reversal, just with an overshoot that I didn't expect. Fingers crossed the rebound continues 
Volatility is the name of the game, both on the short side and long side. I bet there is a lot of margin calls going out.
I'm sitting tight with my 35X -1025/+925 Jan 14 BPS which were opened yesterday, don't have any open positions for Jan 7.
Knightshade
Well-Known Member
100 shares.
AFAIK they won't execute a LEAP with time left to cover short shares from an assigned call, if no shares exist they'll mark you 100 shares short to deliver.
They model a 99.5%-event .. i.e. a 30% drop overnight as worst-case for margin. Some sugar-puts should help out enormously when margin is a problemI had IB close one of my jan14 1100 put contracts because of margin running out. My margin is mainly TSLA stock, and some cash from options premiums. I wished to keep this contract and would have rolled it over next week if we wouldn't end above 1100, but alas not that option anymore.
Positive about it was that I closed the corresponding 980 put with a "profit"?
I vaguely remember a post on improving margin, but I have to look back on what it was.
try to see what buying 800 puts for a few bucks are doing to your margin requirements.
jeewee3000
Active Member
Yeah, the drops for three days in a row since an epic Monday are oversized.
I expect Monday to be another green day taking us back above $1100. Also, this weeks price action gives WallStreet a chance to pick up shares at a discount heading into earnings. In the following two weeks we'll probably see more analyst upgrades to boost the stock heading into the ER.
After the ER my crystal ball is cloudy. If we're at price levels $950-$1100 I think we'll rally to $1200 at least.
If we're already around $1200 we might see a sell the news event.
NOT ADVICE, just my readings of the price action.
Same here just got margin called message in my brockerage platform and sold some positions I wanted to sell for a long time in other value stocks. Just needed a reason to do so. MMs managed to interrupt my clinic today
I had IB close one of my jan14 1100 put contracts because of margin running out. My margin is mainly TSLA stock, and some cash from options premiums. I wished to keep this contract and would have rolled it over next week if we wouldn't end above 1100, but alas not that option anymore.
Positive about it was that I closed the corresponding 980 put with a "profit"?
I vaguely remember a post on improving margin, but I have to look back on what it was.
That's the second time in a week they closed one of your positions (for a loss). It get the feeling you are opening too many positions, leaving you with very little room for error. Best to start slow or go further OTM, so you can gradually build up more cash and open more positions. You don't want to risk getting wiped out.
jeewee3000
Active Member
You heard it here first, folks. MMs are literally killing people with their antics. #mainthreadrabblerabblerabble
I'd have to review but I think it was 2 weeks ago. It was a smaller position back then.
My handicap is that this is all happening with gains from gains from gains. I spent 2K in 2019 in TSLA shares, and except for a bad streak with leveraged positions on Degiro I haven't had any real losses. So I don't mind IBKR's margin nanny that much.
Anyway, I managed to set up my position again for 14/01. Because I still believe this dip is temporary.
Amen, I'm with you, from your mouth to MM ears
What a gift! Closed 30x -1200 calls for 1/28 at $20 each. I’ve been carrying these since Hertz week. They were trading at ~$85 on Monday.
Similar threads
