Wiki Selling TSLA Options - Be the House

[alterac000]

Thought I'd follow-up on a comment I recently left. My poor man's tracker using group labels in ToS:

It's a little more work though truthfully fairly trivial if you keep up with it, to manually add/subtract credits each time you roll. Beauty is you can simply update the labels as you go along to reflect the new credits/debits and positions. Can get more fancy by adding position size in the label and whatever else may be important.

Yes I still need to roll those 705cc's today, fortunate they haven't been called away. Considering sending them to a 10/15 expiry at $750 strike unless anyone has a better idea

 

[InTheShadows]

Absolutely. I only own 900 shares and besides my regular option trading have tried to buy 100 more by first selling 1 close to ATM put when the SP was in the high 600s. I think I did this like every week for awhile and all I got for my trouble was cash.
Then I sold ATM puts. Then I sold a put that was ITM and Still, the stock screwed me! LOL
Now it's higher than I want to buy that extra 100 but I figure I will some day get one of my larger positions put to me and I'll keep 100 shares at that time

Haha. At that rate you’ll soon have made enough premium to buy a set of shares.

sold another credit put spread in my ira during the dip. Now just need to sell sto the calls for next week again this afternoon.

 

[InTheShadows]

The way I look at it is my account used to only go up when TSLA went up. Now it goes up when TSLA is flat or goes up. So 2/3 possible scenarios I am happy with now. Plus I enjoy the math puzzle/strategy aspects of options selling.

It also likely goes up when tsla goes down too. I track my weekly closed g/l and some of the weeks when my overall account value got hammered I still closed positions for a 1-2% weekly gain. Then when the stock does recover it’s like it’s on juice.

 

[jeewee3000]

Does anyone here find themselves quietly rooting for their weekly option "win" while overall losing $ on tsla?

Yeah, but don't tell the guys in the main thread, though.

 

[stealthyc]

Well my call spread experiment was a success, so that was nice.

Also I promised to report some info about a wide spread BPS vs straight sold puts regarding rolling, so here's what I found. I was unable to test ITM rolling (thankfully), but what I noticed was that while the difference in premium when I opened the BPS and puts was only .26 in favor of the puts, if I wanted to roll a week the puts had about a .5-.6 advantage in premium. This shrunk a bit as things went farther OTM to where it was about .3-.4 advantage. In my case this was a 480/-685p spread vs -685p. I have no idea if this is meaningful or typical.

 

[corduroy]

Thought I'd follow-up on a comment I recently left. My poor man's tracker using group labels in ToS:

View attachment 704708

It's a little more work though truthfully fairly trivial if you keep up with it, to manually add/subtract credits each time you roll. Beauty is you can simply update the labels as you go along to reflect the new credits/debits and positions. Can get more fancy by adding position size in the label and whatever else may be important.

Yes I still need to roll those 705cc's today, fortunate they haven't been called away. Considering sending them to a 10/15 expiry at $750 strike unless anyone has a better idea

That's a great tip. I love the speed and simplicity of using Thinkorswim Web, and also the less resources it takes vs running the desktop app, But I think I need to spend some time learning more of the desktop app. It is a beast though.

 

[juanmedina]

I am thinking about selling my retal property to sell puts; I would get around 200k and it makes 10-8k a year. Good idea or bad idea? The only think I really like about ER is that I don't have to think about it, I just set it and forget it and it is like is on autopilot .

 

[dl003]

Yeah, but don't tell the guys in the main thread, though.

Speaking of the main thread, I strongly suggest we find a way to delete the last 10 pages or so that pertain to this week actions. Grown men weeping like little girls over a $10 run is not a good look.

 

[Eugene Ash]

I am thinking about selling my retal property to sell puts; I would get around 200k and it makes 10-8k a year. Good idea or bad idea? The only think I really like about ER is that I don't have to think about it, I just set it and forget it and it is like is on autopilot .

Juan, this is a different risk profile. Will you have enough of the barbell, to weather another march of 2019 (or was it 2020?). Point is that for sanity make sure that you have enough of boring assets so that the downturns don't crunch your gut.

 

[dl003]

I am thinking about selling my retal property to sell puts; I would get around 200k and it makes 10-8k a year. Good idea or bad idea? The only think I really like about ER is that I don't have to think about it, I just set it and forget it and it is like is on autopilot .

I actually abandoned my prospect in real estates to focus on the market. I feel like I'm having a firmer grasp on its mechanics and the return is comparable, if not higher for less work.

BTW. I sold 1x 9/10 750 CC for $3. For science of course. You're all welcomed.

 

[CHGolferJim]

I am thinking about selling my retal property to sell puts; I would get around 200k and it makes 10-8k a year. Good idea or bad idea? The only think I really like about ER is that I don't have to think about it, I just set it and forget it and it is like is on autopilot .

I personally find rental properties an immense PITA, and want to exit mine as soon as possible. The fact that I bought it in 2005 before a 50% dive has a lot to do with it. It just sucks time like that old Hanks’ film MONEY PIT. I can’t imagine you can’t do better with TSLA options, even with losing the tax benefits. This is also potentially a real estate bubble currently to sell into, maybe/maybe not, but it is certainly high and easy to sell in most locations.

 

[jaspa]

I am thinking about selling my retal property to sell puts; I would get around 200k and it makes 10-8k a year. Good idea or bad idea? The only think I really like about ER is that I don't have to think about it, I just set it and forget it and it is like is on autopilot .

Another option if you wanted to keep the rental (and not have a taxable gain?) is to consider a HELOC on it?

 

[adiggs]

Added to my pile of 710 bps for next week. These are $60 spread sizes, giving me mostly $80 spread sizes and now these $60s.

So - add 650/710 bps at about $3.25 credit. I think I've even caught a low point ($725) share price, but we'll see about that. I feel safe with both the 720s and 710s, but we'll see how that evolves. Both chosen as I believe that 700 is a really strong support and both should be manageable down to that level should it prove necessary.

 

[FS_FRA]

BTC my 730cc @ $0.40 - STO for $4.645. Gonna relax over the weekend and figure stuff out for Tuesday.

Could I have waited for expiry or $0.01 - sure. But I'm going to have dinner with my family now, and that's worth more!

 

[mickificki]

I just found out I can sell/buy calls and puts on my 401k. I think I’m in trouble.

STO 2x c735@$6.20. Dipping my toes again…

BTC 2x c735@$0.05, STO 9/10/21 8x C745@$4.20. Not sure if $4.20 was a good "deal"...

 

[UltradoomY]

Side note and a little on topic....
I hate waiting for a fill.... placed my IC order just below mid point of the bid/ask and waiting for it to fill feels like eternity!

Changed up my spread to wider wings and wider body

09/17
-$650 / +$630
-$785 / $805

Credit $2.10 per contract

 

[stealthyc]

I sold to open a small pile of 590/-700 BPS for next friday

 

[CHGolferJim]

Anyone in the US have a Roth that allows them to sell covered calls against long calls (have to be ITM?)? My broker has initially responded that I can’t do it in my Roth.

 

[InTheShadows]

I am thinking about selling my retal property to sell puts; I would get around 200k and it makes 10-8k a year. Good idea or bad idea? The only think I really like about ER is that I don't have to think about it, I just set it and forget it and it is like is on autopilot .

OMG, I just got done mowing my grass and I was thinking the same thing while I was mowing. Maybe it’s time to sell the rentals.

 

[InTheShadows]

Anyone in the US have a Roth that allows them to sell covered calls against long calls (have to be ITM?)? My broker has initially responded that I can’t do it in my Roth.

Yes. I have level 3 with spreads. In E*TRADE.