Great discussions. 1000/500 spread X 50 ties up 2.5M in margin for 2 years on a potentially risky spread. With that much margin, I can do weekly spreads 20-30% OTM each week and make more (with what I think is less risk).
-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Seems Elon really like to tweet during weekend and makes the SP fluctuate even more...
So is 900 safe for this Friday?
I’m thinking yes with support around 915-920(worst case)
NO
We had a 140 point drop in a few minutes last week and we were trading under $900 less than one month ago.
I may be day trading bps this week to avoid getting trapped in a gap down after hours. That’s what I did last week. Open the position on a dip and close later in the day. I made a decent return even on a down day with this approach. I’m looking at 800/700 bps today
Good luck, players
corduroy
Active Member
Luckily we have decent macros, otherwise I would expect a dive into the low $900s this morning. We still might see that. I'll be ecstatic if we close above $1,000 today. Not a bad idea day trading the BPS. I still have lots of open BPS from last week to deal with, including some 960/860s that are high on stomach acid right now.NO
We had a 140 point drop in a few minutes last week and we were trading under $900 less than one month ago.
I may be day trading bps this week to avoid getting trapped in a gap down after hours. That’s what I did last week. Open the position on a dip and close later in the day. I made a decent return even on a down day with this approach. I’m looking at 800/700 bps today
Good luck, players
Lets see if those CC I sold finally drop back down to what I sold them for, so I can buy them back without a loss...
In my mother's IRA, I have 850/600 and 800/600 BPS for Friday. Hoping to roll them in a few days to next week - probably 800/550, or 750/550. Those would allow the SP to drop to 700 and still be easily rolled. They should be safe enough for her account, where I'm not letting myself do anything risky that could lose her retirement money.
In my mother's IRA, I have 850/600 and 800/600 BPS for Friday. Hoping to roll them in a few days to next week - probably 800/550, or 750/550. Those would allow the SP to drop to 700 and still be easily rolled. They should be safe enough for her account, where I'm not letting myself do anything risky that could lose her retirement money.
Might need to start looking at rolling puts out a week if we dip below 1,000, then its all bets off IMO.
KTC Lurker
Member
With the production roadmap we've got in front of us in 2022 this price action, although painful, seems like an opportunity for the placing of some long term bets. I've never played with LEAP's before, so I'm seeking wisdom from those of you that have bought them with success. What are the right ways to think about buying LEAP's? What strikes and dates are you all buying for?
Got out of my 11/19 -900/+700 on open. "only" 45ish% profit, but with Elon drip-selling, and his childish Twitter feud with Sanders and the whole woke establishment, I see us heading below 900 before we head back above 1100. Premiums $200 away from the strike are poor....
As such.....Bear Call Spreads.....or simply sell CCs above 1100 for this week?
11/19 -1100/+1300 BCS is paying around $7
11/19 1100 CC is paying around $6.5, delta 0.145
Never done BCS's.... any not-advice?
Edit: premiums are diving with the stock price....only $5.5 now for the BCS
As such.....Bear Call Spreads.....or simply sell CCs above 1100 for this week?
11/19 -1100/+1300 BCS is paying around $7
11/19 1100 CC is paying around $6.5, delta 0.145
Never done BCS's.... any not-advice?
Edit: premiums are diving with the stock price....only $5.5 now for the BCS
I think you closed the 900/700 way too early. That spread was safe to 850 or lower. I have the same spread in my account, and I'm waiting for the 900 to lose value before rolling to next week. I'm torn between keeping the 900 strike next week, or rolling down to 850. The 850 will get more credit after more Theta burns off on this week's 900. We shall see...
mickificki
Member
Sold 18x 1075 CC's, 11/19 exp. @9.50. Thinking that Elon will be selling all this week and partially next week. Not touching any CC's next week.
Holding my breath...
Holding my breath...
I know potentially I closed it too early, but I have a stressful week and can't babysit this as we head towards 900.... profit is profit.
Any opinion on CC or BCS?
Just rolled my 11/19 BPS 980/780 to 11/26 980/780 for $12 credit. I feel like an extra week gives me some cushion. Keeping my 900/700 expiring this week for now as well.
mickificki
Member
I know I've been prone to occasionally posting off-topic items on this thread, but can you please keep opinions like these to yourself please?
If you've made an options trade based on what Musk has done on twitter recently, we'd like to hear about it and your reasons why.
Thank you.
Just rolled my 11/19 BPS 950/870 to 12/03 920/870 for 0.5 debit. Will be travelling for the next 3 weeks so reducing my risk here
Just rolled my 11/19 890 puts to 11/26 870 for a $5 credit. We are going to bleed slowly at -5% per day until he is done with selling.
bballshinobi
Member
Well, he is making the stock cheaper for you to invest?
The weekly fluctuations have been a little crazy. Decided to sell 1000P 012122 this morning at 105 betting on the Q4 P&D numbers
Well, it sure looks like some big options sellers have set the mark: Is that a combination of @Yoona @Chenkers @Lycanthrope and @BornToFly ? In any case, sell ICs on the other side of 900/950-1050/1100.
Similar threads
