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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
I just wonder how hard and fast the FUD engine is going to spin up. I fully expect my news feed to be laden with drivel (I use these words as the words I want to use are not forum friendly) and I'm looking forward to the day when we can have a blow out earnings week without defending from the barbarians at the gate.And @UltradoomY predicts an insane FOMO rally Monday to Wednesday.
Also, I have STO 10x BPS 950/700 for 2/18 and open calls (BTO) for $1k strike, 2/18 and 3/18 expiry, so you can see which way I'm betting
One moment you're wondering if you need to roll. The other, you wonder if you need to wait, or just take 75% profit. On the same bps.
Just closed these (opened yesterday afternoon) for $1.50!
A quick $20k not too bad for whiskey money!
I mean, yeah, for 300 contracts, but I still feel it's like standing in the tracks of an possibly oncoming train.
BTC 1/21 950 Put @ 1.45 (86.6%)
BTC 1/21 980 Put @ 2.82 (69.4%)
STO 1/28 980 Put @ 25.68
LETS GO!
BTC 1/21 980 Put @ 2.82 (69.4%)
STO 1/28 980 Put @ 25.68
LETS GO!
I can't bring myself to get those, but I'm eyeing BCS as well. I highly doubt it, but Tesla could recognize a bunch of unrealized revenue, I believe it is around ~2B. I don't want to be in front of that train...
I leveraged up a bit / derisked concentration on 1/28
rolled 1/28 1050/900 BPS to 1/28 1050/950 BPS, freeing up 100k margin. Used that to open 2/11 1050/850 BPS in case things take longer after next week to realize. More delta, bit less theta and removed some concentration risk for next week in case we get a black swan or so..
rolled 1/28 1050/900 BPS to 1/28 1050/950 BPS, freeing up 100k margin. Used that to open 2/11 1050/850 BPS in case things take longer after next week to realize. More delta, bit less theta and removed some concentration risk for next week in case we get a black swan or so..
The problem I see is you locked a bunch of margin two weeks further out, and to a fairly high risk spread (we could drop below 950 in three weeks). I'm thinking of closing some OTM BPS for next week that are at 65% profit so I have more margin to widen my ITM spreads for 1/28 if things go poorly next week.
The 850 will be rolled up in time to reduce margin, after more theta flowed out of e.g. the 900s. Or on a spike to the upside which i expect.
Also having the lower leg @850 gives many rolling opportunities if things go sideways. I.e. out to april or so and then just sit it out.
bkp_duke
Well-Known Member
Risking 3.5mil to make 10k. Where does that fit into your trading rules?
Surely 1400 by next Friday is out of the question, no?
TheTalkingMule
Distributed Energy Enthusiast
Lol.....that's precisely what I did as well. 1040/940 and 1060/960 BPS at high premium that I then rolled to 1/28 for a good bit more premium. Will roll them next week if I must, but I highly doubt I'll need to.
On the recent crashes also added 1/21 1000/900 BPS at huge premium. Looking to roll them to 1/28 this afternoon for another $22 in premium. Just so I don't have to think about them tomorrow.
If we drift up toward 1100 tomorrow like I think we will, happy hour will be starting early.
Edit: Technically I did try to buy at today's open $1050c @ $4.20 for tomorrow expiry, but it never executed. That's kinda a YOLO.
eraseRisking 3.5mil to make 10k. Where does that fit into your trading rules?
erase
imma dummyyyyyyyyyyyyyyyy
The run up and a week after for Q1 2020 earnings the stock nearly doubled and then retreated back to nearly where it started a week or so after that.
Q1 2021 run up and a week after we went from ~$720 to $900.
So, maybe not?
Ok, just helped out everyone with BPS for this week. Sold some CCs 1/21 -c1055s for $7.20. Now watch the SP FOMO. Probably dumb, but it sure looks like they want to hold the SP between 1000-1050, with a laser-focused target of 1020+/-5. Worst case, I’ll just close for a loss or roll to 1/28 for the IV crunch. I certainly wouldn’t mind a bit of rise since I have a bunch of 1/28 1070-1100 puts.
I've been thinking of doing something like this in my unused cc slots. I keep coming back to "patience" (something I've been sorely lacking recently :|) and plan to wait until after earnings to see where we stand. I've got too much already riding on earnings as it is.
Then again - I could use some judo on the share price and open those calls now, taunting the share price to explode on me. H'mm... I see possibilities here.
EDIT to add: Yay for long edit times. Lets me avoid creating a new post in the thread, though I suspect many will miss as a result. Anyway I decided to act, entering orders for today at $7 for enough cc to let the share price know that I mean business. I don't know if they will hit or not - probably need a move back to $1035 from 1030 to fill.
The 1/28 premiums will be grand but for this 1 week I want to avoid having cc open that I don't need to have open. Should these see a big move upward and need to be rolled, I am entirely fine with that. Even if I end up leaving a bunch of cc money on the table - that just means that my put spread disaster is coming to an end. Now THAT'S a taunt
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