Nice library. Well, that's a lot of ducking and hiding that I'll need to do this AM. Working from closest to furthest, I have 1/14, 1/21, 1/28 -1090/+890 puts that I was hoping wouldn't need attention. One last on Feb at -1050/+850 , I suppose that too should get some relief ?
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Nice library. Well, that's a lot of ducking and hiding that I'll need to do this AM. Working from closest to furthest, I have 1/14, 1/21, 1/28 -1090/+890 puts that I was hoping wouldn't need attention. One last on Feb at -1050/+850 , I suppose that too should get some relief ?
scubastevo80
Member
Thanks Yoona - always appreciate your perspective inclusive of restraint even at your level of success/account balance.
jeewee3000
Active Member
Wanted to close my 1100cc's expiring today, and I fat fingered the trade -> I sold more of them instead of buying to close. First fat fingered trade I ever made. 
Was going to correct immediately but they're already 30% in the green so I might hold on just a little longer. (Famous last words, I know).
EDIT: closed all 1100 cc's.
Was going to correct immediately but they're already 30% in the green so I might hold on just a little longer. (Famous last words, I know).EDIT: closed all 1100 cc's.
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corduroy
Active Member
STO a few 1/21 BPS -830/730 @$3.25 ≈20%OTM
I'm still going to sit on these, at least until Monday, counting on NDX yearly trend channel
bkp_duke
Well-Known Member
I'm with you.
Have the following expiring next week that I'm still holding onto (sold on the large Monday jump - who would have known, right?):
BPS 960/1010
BPS 980/1030
Closer than I want to be for sure, but I'm looking for an "Austin bump" news and analyst EPS upgrades as we get closer to earnings date.
But who knows . . . macros, MMs, and hedgies could derail my entire plan.
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jeewee3000
Active Member
Just opened a similar but more risky BPS:
1/21 BPS -900/800 @ 7.75
I don't see us dropping below $850 (the point at which I can still roll profitably).
Following the Artful Dodger’s posts of the last few months has helped improve my trading. Today, I noticed that we were approaching the mid Bollinger Band around $1031.xx, so I put in a buy order for a couple shares and 1/14 +c1140s ($6.61). I managed to have those hit on the exact minute (10:52) of the “current” low ($1030.00). Now, we may continue down from here, but this is better timing than any of my previous buys or sells. TA may not be your forte, certainly not mine, but there are lots of traders who seem to use it extensively. Again, not advice, but bought a few calls for next Monday, just in case we get a bounce. This week’s setup isn’t anything close to last week’s, so I’m expecting to lose money on these.
Edit: Yesterday I had closed my -c1205s at $0.60-$0.80 on MMD, then sold -c1105s at $5.50-$7.20 in the afternoon rise. Today’s MMD I closed those for $0.20-$0.40 (probably would have expired worthless, but why take the chance when I already added another $4-$6 for the week). Not sure how well I did, certainly not as much as @Yoona, but perhaps 2% return this week on straight calls and puts, no spreads or margin).
Edit: Yesterday I had closed my -c1205s at $0.60-$0.80 on MMD, then sold -c1105s at $5.50-$7.20 in the afternoon rise. Today’s MMD I closed those for $0.20-$0.40 (probably would have expired worthless, but why take the chance when I already added another $4-$6 for the week). Not sure how well I did, certainly not as much as @Yoona, but perhaps 2% return this week on straight calls and puts, no spreads or margin).
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Flehmenlips
Member
Slightly OT, but woke up to a global Starlink outage this morning which was a pretty sobering reality on an options expiration day. Back online now, but we are very remote with no other connectivity options.
See, now you guys know about my trading skills lol
Will continue to post so you can do the opposite.
ChefBoyardee
Member
I've been thinking about a new strategy once we're out of this mess, since there have been a few big dips that I haven't been able to take advantage of with my current strategy, and the rollercoaster lately isn't so fun:
Thoughts? I might try it for a few months
- Trade entry: BPS, 15% OTM or 5% RoC, whichever is closer, using 1/3 of available buying power
- Tesla tends to drop 14% in 1 week during big selloffs
- If tested: Deploy an additional 1/3 of buying power to roll for max strike improvement
- Drops of 30% or more in a 2 week period is rare for TSLA
- This allows the position to recover more quickly. The goal is to dodge the selloff and have buying power ready to take advantage of the dip in the following week.
- The following weeks can target higher RoC due to high IV and a low SP
- Maybe some rules about no more than 50% margin or no more than 10% RoC for an entry trade if there's a great opportunity
Thoughts? I might try it for a few months
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At what percent profit are you guys clipping your trades? For instance this morning I had some 1/14 spreads at 70% profit and now they are down to 33% profit 
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This AM:
- Bought 052022C1200 (4 mos. $150 OTM) at $94.10, will attempt to repeat above by selling ~60% at $190 and ~40% at $220.
- Also BTC all 010722CC1205 at $0.03 to clean up the sheet in anticipation of selling on Mon/Tues after a weekend change of tone, possibly some news, not sure I'll do any selling for 0121 unless I have to roll the 0114.
- Still carrying 2 x 011421CC1100 which looked scary a few days ago, but now back in the green (-80% since Mon)
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At what percent profit are you guys clipping your trades? For instance this morning I had some 1/14 spreads at 70% profit and now they are down to 33% profit
In these wonky times, I'll take a safe 70% over a stressful 90% any day of the week.
i am actually happy to cash in at 70% (less than 50% is also ok if SP appears to be reversing), even if there is no new position that will give a better deal and i left $ at the table.At what percent profit are you guys clipping your trades? For instance this morning I had some 1/14 spreads at 70% profit and now they are down to 33% profit
i repeatedly promised myself for 2022 that my goal is to have SLOW and STEADY cash coming in (even if profit is tiny), because i am so tired of endless rolling just to realize my gains; this would mean less income overall and that's ok.
This is an important message. Optimizing between accumulation, income generation, and asset preservation will mean a completely different approach for each of us!
Nice library. Well, that's a lot of ducking and hiding that I'll need to do this AM. Working from closest to furthest, I have 1/14, 1/21, 1/28 -1090/+890 puts that I was hoping wouldn't need attention. One last on Feb at -1050/+850 , I suppose that too should get some relief ?
UPDATE: As crazy as this may sound, I rolled the 1/14 to April 14 -950/+750 for credit. I then rolled 1/21 to 4/14, -900/+600 , widened to 300 for (debit), net difference pennies. So far, all good. I then bit the bullet and roller the 1/28 to the same April 14 spread, for a debit that ate away at my YTD credit; hope to BTC shortly after earnings, fingers crossed.
EDIT: Left the 2/4 1050 , in hindsight, should have moved that around while were 1040 or so. Oh well, still has some extrinsic, not much, will watch that closely.
With the remaining YTD credit, I followed @CHGolferJim by picking up a couple 220522C1200 at $93 each ... I like this trade very much, will sell at first opportunity to help bridge back some of the debit I took to get things better situated.
InTheShadows
Active Member
Well now. 1010??? I have to confess I might have to commit a sin and buy some short term OTM calls around 21-28 DTE…
This is a head scratcher.
This is a head scratcher.
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