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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
And i looked into it years ago already.
You can only take money from "accredited investors" aka rich people. Or have a legal and compliance-department of 20 people if you want to take 1$ of retail money...
I got a company i trade in. Here is what i CAN do:
- give out shares, take the money, invest, pay dividends. After all costs. Mostly a bad deal for investors and the company as dividends take out a lot of liquidity. Also hassle of "accredited investor" in US, limited number of possible shareholders, etc.
- take a credit from people for a fixed interest rate - but NO participation in company-growth
- give out non-voting shares in proportion of the credits along the previous example (in our case: around 1 share for every 100 bucks put into the company)
Everything then will be an accounting nightmare - and we are not even talking about legal implications if i lose that money.
But ... if enough people are willing we could expand that into a TMC-Fund
(PS: My track-record is awful .. better not invest in me ^^')
STO 7/8 -660 CSP filled at 7.50 , used the pivot point support at 682 as the watch , price will probably drop through after I post. The intent is to get credit with possibility of getting shares to write CC against or outright appreciate. The struggle with calling away shares is the short term gain consequence in a non-ira account. However, gain is gain.
i also suspected PP is the bottom and closed my CCs there
in other news: sp seems to be respecting the Fib lines
scubastevo80
Member
Seller of 7/8 610/510 BPS this morning for $1.85 on what little strength we had. Will look to close this afternoon if we get under $0.85.
June FOMC meeting minutes are being released at 2pm ET today, so could get a bit more volatile before/afterwards.
STO 7/15 750C $8.80 (SP around $700) to replace the 7/1 750C. I may sell more if the SP keeps rising to replace the 7/1 770C.I have been trading blind without the Greeks for years. My broker finally upgraded to a new UI and now I can see
View attachment 823265View attachment 823266
7/1 750C has delta of 0.01, 7/1 770c has delta of 0, so i think that implied 1% or less they will get ITM tomorrow
Decided to hold my 7/1 750c and 7/1 770c to expiry, the old me that can't see the Delta, might have closed them instead (like last week). In the unlikely event that the shares pop 10+% tomorrow If they get assigned, great, that's a SP gain of $77 and $97 in a day, would be happy to get some cash back, then wait for a dip to buy back. Either way it's been a good week for CC selling.
7/1 750C $20.30 (SP around $741) > current $0.15 (SP price $673.42)
7/1 770C $10.30 (SP around $727) > current $0.07 (SP price $673.42)
The 9/16 700c's that I rolled from 5/27 $600c also went down nicely
On 6/24 9/16 700C $116.35 (Stock price $737.12) > on 6/30 $79 (Stock price $673.42)
Overall I'm less stressed than back in May in the same SP $600 range, I'm more prepared for a Q2 P&D drop than I would be last month.
I probably will not open new ones until next Tuesday, will sell more CC if SP pops above $700 , but if it doesn't, I'm ok just sitting out as well. I've made more premium in these past 2 weeks than the past few months.
GLTA
I stuck to my rule to not open anything unless share price pops above $700, so couldn't open any trades yesterday, by the time it did pop above $700, there aren't anything good for me to sell for 7/8, unless I'm willing to sell the 7/8 $730c for $3. which I may have to close and roll if the share price goes up further, so instead of doing that, I'm taking it easy and just selling next week's 750c for 1.4 weeks of premium. This position has accumulated roughly $30 of credits, which if assigned means i'm selling shares at $780, not bad.
Closed my 8/7 765 CCs yesterday on the low for 85% profit and now waiting for a pop to sell maybe 15/8 CCs in the 800$. Not sure yet since we are in a consolidation wedge and there will be a breakout up or down soon and with the crude oil going down, CPI that seems to have peaked, AAPL having a positive breakout and QQQ closing above resistance all make me think about a run up. But what do I know, I was wrong the last times and will probably be wrong again.
I much simpler solution is to simply use this forum for real-time information sharing: successful traders, like @Yoona could post their trades when entered, others can follow and copy the trades if they wish at their own discretion. Everyone managing their own money, no legal hoops to jump through.And i looked into it years ago already.
You can only take money from "accredited investors" aka rich people. Or have a legal and compliance-department of 20 people if you want to take 1$ of retail money...
I got a company i trade in. Here is what i CAN do:
- give out shares, take the money, invest, pay dividends. After all costs. Mostly a bad deal for investors and the company as dividends take out a lot of liquidity. Also hassle of "accredited investor" in US, limited number of possible shareholders, etc.
- take a credit from people for a fixed interest rate - but NO participation in company-growth
- give out non-voting shares in proportion of the credits along the previous example (in our case: around 1 share for every 100 bucks put into the company)
Everything then will be an accounting nightmare - and we are not even talking about legal implications if i lose that money.
But ... if enough people are willing we could expand that into a TMC-Fund
(PS: My track-record is awful .. better not invest in me ^^')
scubastevo80
Member
I agree this thread is extremely helpful to see others rationale for entering/rolling/exiting trades, but I'd advise against trying to copy exact trades, particularly the weeklies. I am not always able to post mine in a timely fashion, and some of the better trades I make are based on my capturing IV spikes after a quick directional move in the stock. By the time one has posted, 20-30% of the premium could be gone. Case in point my post #18,765 above.
Any chance we can get a peak at the resistance levels for today?
Thinking about selling some 2 DTE calls before the oil report at 10:30 am....
$710 CC's for $11 each possibly
Thinking about selling some 2 DTE calls before the oil report at 10:30 am....
$710 CC's for $11 each possibly
BrownOuttaSpec
Active Member
Anyone have some not-advice for 11/18 BPS of +850/-1050 ? I feel like there are a few other people in a similar situation.
When I rolled these out back in Feb I thought it would be no problem but now I am starting to think I am going to have to manage them with their extrinsic value getting to be about $13 for the 1050 put with the SP being $700. I am tight on margin and would rather not sell any of my core shares. I was thinking an attempt to roll to Dec for a very slight credit if possible is my 'easiest' move but other ideas are welcome.
When I rolled these out back in Feb I thought it would be no problem but now I am starting to think I am going to have to manage them with their extrinsic value getting to be about $13 for the 1050 put with the SP being $700. I am tight on margin and would rather not sell any of my core shares. I was thinking an attempt to roll to Dec for a very slight credit if possible is my 'easiest' move but other ideas are welcome.
Sensing upward momentum at the open I did this quick trade
2x 660/600 $2.12 -> $1.15
2x. “ $2.44 -> $1.15
2x. “ $2.54 -> $1.15
2x. “ $2.69 -> $1.15
Opened between 8:30 - 8:33, closed at 8:39
Met my profit goal for the day in under 10 minutes
2x 660/600 $2.12 -> $1.15
2x. “ $2.44 -> $1.15
2x. “ $2.54 -> $1.15
2x. “ $2.69 -> $1.15
Opened between 8:30 - 8:33, closed at 8:39
Met my profit goal for the day in under 10 minutes
TSLA - Tesla Stock Trader's Cheat Sheet - Barchart.com
Support Resistance, Pivot Points for Tesla Inc with Key Turning Points and Technical Indicators.
www.barchart.com
Thank You!!TSLA - Tesla Stock Trader's Cheat Sheet - Barchart.com
Support Resistance, Pivot Points for Tesla Inc with Key Turning Points and Technical Indicators.
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Just sold $715 CC's for $13 each! 2 DTE
I would wait and watch for now at least - you won't get a roll without a debit until we are past $900 - so hopefully a run into earnings or presplit will get us there for a chance.
Other than doing a split flip or trying to manage one contract at a time.
We have blown through the first two resistance lines for today!TSLA - Tesla Stock Trader's Cheat Sheet - Barchart.com
Support Resistance, Pivot Points for Tesla Inc with Key Turning Points and Technical Indicators.
View attachment 825751
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Thanks for the insight. How is the debit vs credit roll price point calculated? I have December 1150 short side BPS that I want to roll to January, looking for similar ideal time to roll.
The mid point of the spread -
ex. +950 / - 1150 BPS
The mid point is $1050
So below that it is going to cost you to roll out / above that a credit to roll out
That is unless you widen the spread from +$950 / - $1150 to something larger like $900 / $1200 and that would provide a credit but also uses more margin and is a larger total loss.
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