Wiki Selling TSLA Options - Be the House

[AquaY]

I BTC my 770 Calls for 1 cent.
No reason to take the chance in the After Hours ( or the last 1/2 hour of trading) for an extra $10.
That would be what I call "Stupid Cheap & Greedy"

 

[Discoducky]

Nerve wrecking finale.

Rolled my 740cc's to 10/1 755cc's for $1 credit per contract.

I chickened out of next week and BTC my $720 cc's for -20%

But the week ended up $20k. Learned a lot.

Thanks to @MP3Mike I didn't see that crazy high volume on the $760 calls. I'm guessing that whomever lost on the big $700 call wall, STO those $760's and defended that wall. Which I think means that next week should climb higher. For the first time in quite a while I have no options open over the weekend.

 

[Yoona]

Have you looked at the option volume today?

View attachment 710682

People have been hitting the 760s hard.

this is very interesting... on an extremely close fight, check volume to give a clue of final sp?!?

 

[Drezil]

Yeah I see $759.49. I followed thru with my diamond hands
We'll see what happens. I'll report whether or not i still have my babies....

until 17:30 or so one can still get exercised on those short calls ..

I think IBKR gives me until 16:30 or 17:00 to make up my mind (otherwise ITM stuffs gets exercised, while OTM stuff get lapsed).

If i would have held 760c i would have them exercised lateron..

 

[mickificki]

Maybe one of the experts here can help me. So i had a limit BTC order for $0.02 for my 18 CC contracts, and we closed under $760. Will my limit order fill? It never got that low.

 

[bkp_duke]

You guys see the volume on close? 7.2+ million shares . . .

 

[bkp_duke]

Maybe one of the experts here can help me. So i had a limit BTC order for $0.02 for my 18 CC contracts, and we closed under $760. Will my limit order fill? It never got that low.

Probably not. It will probably just expire.

 

[Drezil]

But the week ended up $20k. Learned a lot.

46k€ here. Good week.

Onto a huge spike monday when people have to cover/release the pressure on the stock a bit.

 

[ammulder]

Man, the positions being taken in this thread are starting to make me question just how much of the weekly TSLA options market we all comprise.

The small spreads definitely make the numbers look crazy. If someone just showed their portfolio line with 200-400 puts without the other line that made it clear it was a spread… yikes!

I just can’t bring myself to do those tight spreads, though. If I lost several $100k on a $20 move against me, I think my wife would change the account password!

 

[MP3Mike]

Maybe one of the experts here can help me. So i had a limit BTC order for $0.02 for my 18 CC contracts, and we closed under $760. Will my limit order fill? It never got that low.

Nope, orders can't fill after close. (I've found when it is this close that it is hard to close at $0.01 or $0.02. I closed at $0.03 today.)

 

[CHGolferJim]

WeBull shows $759.49...?

You're right, there was some glitch on the screen I was watching, I guess.

 

[Drezil]

Maybe one of the experts here can help me. So i had a limit BTC order for $0.02 for my 18 CC contracts, and we closed under $760. Will my limit order fill? It never got that low.

After close you cannot trade anymore, but still be assigned.
Last prices for 760c was .80 if i see that correctly.

See an example where stuff went wrong here:

 

[mickle]

Well I decided on two strategies for my 2x 730ccs. I let one expire, so I can finally try the other side of the wheel.

The other one I rolled to Dec 17, $850 for a few cents. Its in an IRA and I have to take a large RMD before the year is over, so seems like a good bet. I'd have to sell some shares before end of year anyways.

 

[Chenkers]

46k€ here. Good week.

Onto a huge spike monday when people have to cover/release the pressure on the stock a bit.

$253kUSD

A hectic but very good week. I managed to close everything out for around 99% profit so will be all ready to go again next week.

 

[jeewee3000]

Which I think means that next week should climb higher.

Onto a huge spike monday when people have to cover/release the pressure on the stock a bit.

I fear this could happen, and considered only closing out the cc's to resell (complete the roll) next monday.

BUT I rolled anyway since:
- I've never trained myself to 'have to roll'. Need to take the emotion out. Worst case I have missed opportunity cost by having to roll the position for a long long time.
- one piece of bad news over the weekend could grant us an MMD to $740, which I would use to exit my 755cc's at a profit.

If everybody thinks we're going up monday, chances are we will not. I'm trying not to 'care' about it, just detaching my emotions and just seeing what happens and taking opportunities given. But glad so many others had a better week than I did. I dropped the ball on the monday MMD and never recovered during the week. Lessons to be learned.

 

[mickificki]

After close you cannot trade anymore, but still be assigned.
Last prices for 760c was .80 if i see that correctly.

See an example where stuff went wrong here:

 

[Discoducky]

$253kUSD

A hectic but very good week. I managed to close everything out for around 99% profit so will be all ready to go again next week.

Hope that was a good week for you? I'd certainly be happy

If you don't mind sharing (or maybe you did and I missed it) what your trades were?

 

[CrunchyJello]

Noob question:

I’m paper trading 0DTE today with my final call spread being 760/765.
The price closed at a nail biting $759.49; I assumed it was a win.

However, my app closed the spread automatically 4pm at a 0.70 loss.
Should it not close at 0.00?
Assuming the app is working ok,
is this the result of options being exercisable until 4:15?

Yea, I know - don’t trade in this timeframe, but I was curious about the mechanics.

 

[Tslynk67]

$253kUSD

A hectic but very good week. I managed to close everything out for around 99% profit so will be all ready to go again next week.

Dude, that's fecking crazy profits, if you don't mind me asking, what's your underlying capital?

 

[MikeC]

Noob question:

I’m paper trading 0DTE today with my final call spread being 760/765.
The price closed at a nail biting $759.49; I assumed it was a win.

However, my app closed the spread automatically 4pm at a 0.70 loss.
Should it not close at 0.00?
Assuming the app is working ok,
is this the result of options being exercisable until 4:15?

Yea, I know - don’t trade in this timeframe, but I was curious about the mechanics.

Looks like the app just subtracts the last printed price of each option and gives you the difference for the final result. In real life, yes, it would be 0 unless it gets exercised after hours as discussed above.