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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
jeewee3000
Active Member
If those end up ITM I'm done forHad to buy some Feb 300 *sugar* PUTS...... for margin maths
jeewee3000
Active Member
I bit the bullet and sold 100 TSLA shares at market price to fund the purchase of 2 LEAP contracts : JAN2024 $800's @ 420 each.
I'm planning to:
A) sell conservative CC's against these
B) ride the return to ATH in a hopefully more profitable way
C) keep the leftover cash on hand just in case my BPS'es need saving/rolling with widened spreads.
EDIT: my market order triggered when TSLA was @ $968,33.
I'm planning to:
A) sell conservative CC's against these
B) ride the return to ATH in a hopefully more profitable way
C) keep the leftover cash on hand just in case my BPS'es need saving/rolling with widened spreads.
EDIT: my market order triggered when TSLA was @ $968,33.
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corduroy
Active Member
STO 12/10 some 750/650 @$2.55
Also did something I haven't done in a long time, rage bought a few shares at $955
Also did something I haven't done in a long time, rage bought a few shares at $955
Rolled 950/900 BPS to 920/870 12/17 for a dr equal to 1/2 original cr
Rolled 940/890 BPS to 900/850 12/17 for a dr equal to 1/2 original cr
Left my 850/800 alone for now, but added a 1150/1200 BCS. Always a reality check when even a small credit BCS is worth more than my weekly wages.
I am thinking we will fill the 910 gap this week, I am not as confident that we will fill the 843 gap unless a true black swan macro even unfolds. I do think 12/9 is now setting up as a negative catalyst to sell the news to get us to that 910 gap fill.
If we do hit that 910 gap, I will finally be ripping the bandaid off my DITM 800 and 805 CCs and flip-rolling those to 06/22 BPS. Technically I am "whole" as of today. Meaning my account values are now in excess of what they would have been had I not had those CCs and LCCs cap all my upside from 800 onward. So, another good reason to flip roll those last CCs.
Carry on.
Rolled 940/890 BPS to 900/850 12/17 for a dr equal to 1/2 original cr
Left my 850/800 alone for now, but added a 1150/1200 BCS. Always a reality check when even a small credit BCS is worth more than my weekly wages.
I am thinking we will fill the 910 gap this week, I am not as confident that we will fill the 843 gap unless a true black swan macro even unfolds. I do think 12/9 is now setting up as a negative catalyst to sell the news to get us to that 910 gap fill.
If we do hit that 910 gap, I will finally be ripping the bandaid off my DITM 800 and 805 CCs and flip-rolling those to 06/22 BPS. Technically I am "whole" as of today. Meaning my account values are now in excess of what they would have been had I not had those CCs and LCCs cap all my upside from 800 onward. So, another good reason to flip roll those last CCs.
Carry on.
Went ahead and rolled my 12/10 $995/$800 BPS (there weren't any $795's when I opened) out to 12/17 $980/$780 this morning for $7 credit each.
If I am rolling - like others here - i really need to like the new position I am opening. If not it's always better to take the loss and find a new position I like more.
This is good for both credit and time for me as now I have functionally 2 weeks for a good bounce or I can still roll out for credit if needed to the 12/23 strikes.
Now I have till next week to not worry about gap fills or dips.
Eyeing some leaps in the $800-$900 range if I can get my fills!
If I am rolling - like others here - i really need to like the new position I am opening. If not it's always better to take the loss and find a new position I like more.
This is good for both credit and time for me as now I have functionally 2 weeks for a good bounce or I can still roll out for credit if needed to the 12/23 strikes.
Now I have till next week to not worry about gap fills or dips.
Eyeing some leaps in the $800-$900 range if I can get my fills!
I am now either a degenerate or a smart trader (or both?).
I said I was gonna keep my 1m IRA (all from sold early 2021 TSLA gains) away from invidividual stocks, but just threw everything into a variety of longer dated put spreads, Jan 23 - Jan 24 mostly around 450/650 and 500/700. Up to a 40% return on what I think are "conservative" breakeven points.
I said I was gonna keep my 1m IRA (all from sold early 2021 TSLA gains) away from invidividual stocks, but just threw everything into a variety of longer dated put spreads, Jan 23 - Jan 24 mostly around 450/650 and 500/700. Up to a 40% return on what I think are "conservative" breakeven points.
Wasn't sure whether to roll or not so I rolled half of my 12/10 960/870's to 12/17 940/855s. Time will tell, but feel reasonably good about not totally sh$tting myself on this latest wild ride.
Last 5-6 weeks no sweat for BPS, BCS
This week it's bit tight .. have BPS from 940 and below .. should be able to roll.
I bought some *sugar* puts, upped margin and added some for Jun 22 calls.
waiting for turnaround heading into EOQ and earnings.
cheers!!
This week it's bit tight .. have BPS from 940 and below .. should be able to roll.
I bought some *sugar* puts, upped margin and added some for Jun 22 calls.
waiting for turnaround heading into EOQ and earnings.
cheers!!
I've carried a 750cc for a long time, and decided to just buy it back as it has dragged me forever so decide to close it during the dip this morning. Not dare to open more BPS because I already open more than I should open last week (before all these drop) and don't wanna take more risk.
jeewee3000
Active Member
This week should be interesting.
The made in China wholesale sales number should get out by around Wednesday and rumor has it this will be positive.
And oh yeah, there's this December 9th nonsense floating around. Hope this doesn't plummet the stock price if nothing happens.
A lot of put spreads that are now itm.. I'm gonna wait a couple days until I roll these.
At least there's this, so something is happening on the 9th.
At least there's this, so something is happening on the 9th.
I'm hoping for some serious buy-the-rumor action running up to this so that I can close my BPS for 12/10...
I just discovered the other, other thread on ways to reduce our tax burden. Professional Trader Status
If you are making a lot of money trading, head over there about information on setting up a C-corporation. Since I'm looking at 8 figures in gains/year, possibly reducing my tax burden from around 50% to 21% would be huge. Need to learn more....
If you are making a lot of money trading, head over there about information on setting up a C-corporation. Since I'm looking at 8 figures in gains/year, possibly reducing my tax burden from around 50% to 21% would be huge. Need to learn more....
experienced my first SMA call after the morning dip; funds from my cash account went back into margin. Unless we get a good pop the next day allowing an early close, hoping the price stays above the 980 @vikings123 posted earlier, would like to see my 12/10 -910p/+810p expire worthless. That will free some more margin as well.
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Hard to follow Lyc with my pedestrian trade info, but took the dip to roll down 5 x 121721C1200 to 121721C1075 for $9k cash against my $1073 buy write. Expect to need to roll these!
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scubastevo80
Member
I finally wrote my goals/objectives down on Sunday. I'm looking to write BPS/BCS for gains of 2% a week. On our $30k account, that's $600 in premium at present. Amazing what the compounding will do in a few years when one is able to successfully do this weekly. Still need to fine tune how we'll do this - deploy all $30k, all the time, deploy part of it all the time and part of it on 5% drops/pops like today, or something else. We still want "long" exposure and will look at LEAPS if we drop back down to $900 range, but that is a secondary goal.
It is good that you have done this - the writing of goals to make sure you have a sound "Investment Thesis"
The account size is in no way related to this, the education of using derivatives to create more income/wealth.
The knowledge and being paid to learn is the most important part.
Because of that, the way life goes, sometimes you find a chunk of change (inheritance, home sale, bonus at work, etc.) and now you know exactly what to do with it to make it grow.
These are the lessons that I hope this thread ultimately provides (thanks @adiggs for starting and so many others for contributing) being able to take a sum of money or equity and turn it into more, for a very long time.
Cheers to you on getting started, writing it out and asking questions to get better!
Yes thanks finally that’s what I did. Rolled my -p1130 for -p1045 for a small credit and 1 week out. I held on the -1045 and waiting to see what happens.
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