CC less than 2% OTM on all your shares? Nice trade. Do you have a tailor make you custom pants, or do you get your massive balls to fit another way...?
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
I've sold all my contracts for the week with the last BCS 1100/1200 this morning. Then I took the plane for a quick flight to Jackson and back before going on a bike ride. (A friend hopped in the back to check out the jet). Some days life doesn't suck.
Edit: Not quite @BornToFly views, but pretty good from the ground. Also, sorry everyone, but I missed @Chenkers ballsy trading because I was too busy sleeping in here on the Oregon coast. However, later in the day I did manage a single day trade -c955 (in $10, out $6.90). I’ll try harder tomorrow, but it’s not looking good right now.
Interesting action today on 9/2 options. 785/805 call spread, not symmetric, 4300/3000x, $142/$125. Thoughts?
Interesting action today on 9/2 options. 785/805 call spread, not symmetric, 4300/3000x, $142/$125. Thoughts?
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^^^ aside from the double down of 900p , not much seemed to go on tuesday. my wednesday plan is to sell 8/19 965 CC near the open, Sell 8/19 865 CSP at MMD, Buy back winning side if we have drastic swing, otherwise see through to friday
I'm also beginning to think that we're going to trade flat the rest of the week - especially with the ongoing battle on the indices. Of course if the bulls win the macro fight, it could spark a market-wide short-squeeze which might drag $TSLA along, but I'm not convinced
So I'm thinking to sell 10x -c950's against my remaining uncommitted $TSLA shares today, let's see how things pan-out
Note that AAPL got an upgrade and PT increase AH yesterday, which might pop the stock and if AAPL pops, the rest tend to follow
So I'm thinking to sell 10x -c950's against my remaining uncommitted $TSLA shares today, let's see how things pan-out
Note that AAPL got an upgrade and PT increase AH yesterday, which might pop the stock and if AAPL pops, the rest tend to follow
I would do this as a downside-hedge to free up margin.
Effective net-credit ~0. If we crash hard like a black swan or so, they will print. Otherwise the cost nothing as the short side pays for the long..
But that is just intuition. I will have to check if that is actually what was done with actual numbers.
But thanks for the hint. Maybe a "risk free" trade to copy where someone knows something..
Just checked things. Not what i thought.
basically a -3x805/+4x785 combo gives you a 1x normal 785c - the rest just pays for the theta. P/L on the combo is ~0 if SP does not move - so you don't burn theta. Delta is basically 1.00 dead on.
BUT it only cost 18k (in price as in margin) for the same behaviour as 100 stock (down to ~850). 100 stock usually cost 35k margin or so.
Looks to me like someone tried to lever to the max.
You can also play this the other way and get -1.0 delta - but you pay theta & a straight long put should be a better bet there.
Closed out of my $970c @ $1.8 for an $8.2 gain. I'm not worried about $970 but hopefully I can sell a $955 later in the week for a few more bucks.
Abandoned this idea and looked for -c900's instead for next week, but the limit didn't quite hit
Four things at play right now as I see it:
- retail spending numbers = didn't seem so bad, but maybe not as good as hoped
- China factory shutdowns due to heatwave is spooking tech as a whole = not specifically Tesla related, although CATL might be impacted
- FOMC minutes due out 14:00 EST = spooking even more
- key pivot/resistance point fight ongoing to determine bear market continuation or recovery = bears jumping in shorting at this level
I leave my sell order in place, there will be volatility after FOMC
Where is the stock run-up to the stock split? asking for a friend.
john tanglewoo
2012 Roadster Owner
Yes sorry Sept 16. That's my only issue, "probably" safe. Would rather see if I can get out get out without losing money or rolling than play a game of chicken I think.
When are the FOMC minutes released?
Sold the $955c for $4. Probably too early but why be greedy.
mine is almost same next week at -c905, been rolling it forever and ok to be assigned
or roll again and milk the buy-write to death
Yeah, I'm just a bit wary as I have 3000x $TSLA right now, which is great if we wander around $900 for a while, but if we get a macro dump, would be annoying...
That being said, holding common shares doesn't have the same stress factors as LEAPS, just sit on them forever and sell weekly strikes at the purchase price, or a suitably "safe" distance if the SP drops too low
Same here, a bit later than you, so I only got $3.50. To help goose the SP a little, I also sold a tight strangle -p905/-c920 for $25 total. I almost went with a 910 straddle, but eventually decided that it was too much risk for an extra $5. The MMs have kept a lid on things so well, trading is pretty muted. Knowing my timing, that probably means the SP will take off in 3…2….1….. Edit: and there it goes, up $5 in 5 min. I’m amazing.
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Buckminster
Well-Known Member
Rolled out my -p 890s to next week for $8.75 apiece.
So very, very hard to continue sitting on my hands. At least another week for me.
The difficulty sitting on my hands is probably not a good sign. No open puts; some remaining buy-writes profitable using 800 and 830 strike calls.
The difficulty sitting on my hands is probably not a good sign. No open puts; some remaining buy-writes profitable using 800 and 830 strike calls.
Just algobots reacting to FOMC minutes. Leaning towards restrictive rate policy to combat inflation.
It’s interesting to watch the price action when such news drops. Huge swings in seconds. Initial sell off followed by strong upward move. Fading now.
But I’ll take a flat to slight green close today after the morning we had.
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