The NASDAQ has essentially given up all the gains from the last year. This can't continue. Amazing buying opportunity if you have the cash. The only people who are screwed are those getting margin called and those that have time sensitive options.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Bought to close all my 1100 puts for a loss of $4M. Bought 10,000 shares with the available margin. At around 1250 I break even.
Hope you make $1M of that back this week. Amazing commitment!
I feel like closing all my option positions to buy TSLA on margin however I started trading options to slowly pay my margin. Upside worldBought to close all my 1100 puts for a loss of $4M. Bought 10,000 shares with the available margin. At around 1250 I break even.
corduroy
Active Member
Premiums are crazy right now. "Safe" 2/4 540p/-690p are $10+. I know you're supposed to be greedy when others are fearful, but I'm a little fearful myself.
Last time that we got hurt most people said "I am touching BCS anymore". How about now? no more BPS? 
Did you buy back the whole spread? Or were these naked, sorry, can’t remember your position as I, too, am in the corner sucking my thumbBought to close all my 1100 puts for a loss of $4M. Bought 10,000 shares with the available margin. At around 1250 I break even.
So far I haven't sold the long leg. Will see if it generates more profit.Did you buy back the whole spread? Or were these naked, sorry, can’t remember your position as I, too, am in the corner sucking my thumb
Hertz week had no catalyst on the horizon and the stock increased around 15%.Last time that we got hurt most people said "I am touching BCS anymore". How about now? no more BPS?
Weeks to Incredible P&D and earnings, Fed announces potential rate hike, stock collapses 27%. My conclusion, in the short term, the stock will always do the opposite of what you plan, on the long run, it will increase, at the most unexpected moments.
On a more negative not, just called the bank and learned the representative declined the transfer of securities from one of my account to the other. Sent the form on the 10th of January, they replied me to send as .pdf the list of all the stocks I wanted to transfer which is what I did. The rep told me if could take up to 7-10 business days. I called back and the last rep told me: “It got declined by someone for no obvious reason, he never warned anybody like supposed to, sorry you have to submit again. The reps from that branch are not really good.”
That could cover the margin for a ride in the 700s but depending on the close today, without the transfer, I might get margin called. They better hurry up.
So if I got a margin call (I have not -- still plenty of headroom since I leave 50% buffer), with my puts, if I rolled them to 1/24 took the premium up front and then proceeded to BTC those newly rolled puts to 1/24. Is that a viable strategy? I could close 2/3 of my open contracts and vastly reduce my margin requirements. I would still be stuck carrying 1/3 of my puts, with no payday, but I would be out of any further jam. Does that seem right?
Edit: Just rolling the puts and keeping the cash would also reduce my margin as well, correct? Another possible option would be to then hold the cash as leverage and buy back the contracts if we ever reversed, right?
Outside of continuing to roll my puts down and out, what other options are there? I am not sure 852 is the bottom here.
Edit: Just rolling the puts and keeping the cash would also reduce my margin as well, correct? Another possible option would be to then hold the cash as leverage and buy back the contracts if we ever reversed, right?
Outside of continuing to roll my puts down and out, what other options are there? I am not sure 852 is the bottom here.
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853 is the 200 day EMA so it seems to be holding up, could have something to do with MMs/Hedgies trying to avoid the uptick rule too.
Is 843/844 a gap that has not been filled yet? Is that the last gap that needs to be filled? Can anybody confirm?
debating rolling my 860-960 BPS for this week 2 weeks out to 2/11 and widening to 150 wide. I can get 740-890 for a small debit, or 750-900 for a small credit. I have the margin room in the account to do this (IRA so all cash covered)... seems like that buys me a bit of breathing room for those, although if we continue to get steamrolled, there's not much I can do about that except take the loss or roll way out like some others have suggested today. thoughts?
Quick question about rolling in IBKR. Feel free to respond privately if this clutters up the thread. How would I roll to a different number of contracts? For example, I have 10x +800/-950 how would I roll these out to 5x +700/-1000, so widen the spread and gain some time for same margin? Been playing with lots of ideas this morning as I'm sure we all have., but can't figure this out in the IBKR roll tool, it seems to always want the same number of contracts to close/open. Thanks.
Assuming they are cash accounts, that's odd for stock transfers within the same brokerage house. But they love to slowly release assets for outside transfers. And you might as well stick a fork in it for trust accounts as they can be a PITA.
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