BrownOuttaSpec
Active Member
Same for me. except rolled to Nov for a super tiny credit. I needed a break anyway, I was losing some sleep over it.FFFFF
Literally the moment I close my Jan28 950/900 the SP goes up.
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Same for me. except rolled to Nov for a super tiny credit. I needed a break anyway, I was losing some sleep over it.FFFFF
Literally the moment I close my Jan28 950/900 the SP goes up.
I recognize this isn't everyones situation here, but just looking for thoughts. I am easy compared to the underwater BPS crew. I have some 2/4 940's and 2/11 950's puts. What is the advice, not advice? I think my margin is good all the way down to a SP of 700.
0) Keep doing nothing for now (what I will likely be doing) until we get near margin issues
1) Keep rolling week by week for same strike as long as we dont dip further collecting premium waiting for a bounce
2) Roll down and out to where the SP is ATM? July for 825 puts currently
3) Roll to Jan 2024 and close out 2/3 of the contracts with the premium, leaving me with 1/3 to deal with and a much fatter margin buffer. Now I can free up and sell more puts in this current environment?
Uptick rule has been triggered (10% drop from yesterdays close). Will be in effect rest of today and tomorrow.
Uptick Rule
Ok did not like the action, closed 10X for a small loss. I just have a sneaky feeling they will go for the 813 tomorrow(200 day SMA). Second wave of retail capitulation probably starting.
My portfolio is still locked at TD. As Tesla was falling I had to keep selling other assets and keep pulling money from RRSP to stay out of margin. Now I'll have to wait for everything to settle.@tivoboy Will there be another opportunity to buy in this range, or lower in your opinion?
I've been trying to transfer out from TD Direct to IB since Jan 3rd, and they keep screwing transfer up, and then impose onerous concentration rules on me. They forced me to sell few hundred shares last Friday, that I would have 0 problem holding almost anywhere else. Basically they limit purchasing power at 750K for $2.8M TSLA. And have been refusing to let me go - I think not intentionally, probably just incompetence and not caring.
Write-up about this experience coming.
My portfolio is still locked at TD. As Tesla was falling I had to keep selling other assets and keep pulling money from RRSP to stay out of margin. Now I'll have to wait for everything to settle.
But it's good to know that I can count on Elon to snap a loss from the jaw of victory. I may still be able to buy back my position cheaply once I'm let go.
BTW @tivoboy answered me offline before earnings call, and he killed it...
The way I remember things - anytime we see the Uptick Rule get triggered for TSLA the next day is pretty positive. Its almost like there are a bunch of short sellers (or a small number of well funded short sellers) that use standard short selling market rules to push the share price down. Take away their toy from a big down day, and buyers show up.
Date | % Down | Next Trading Day |
Nov 9th 2021 | 12%-Elon Sale | +4.34% |
08 Sep 2020 | 21% | +11% |
23 Sep 2020 | 10.34% | +2% |
01 May 2020 | 10.30% | +8.54% |
18 Mar 2020 | 16% | +18% |
16 Mar 2020 | 18.5% | -3.34% |
12 Mar 2020 | 11.62% | -2.49% |
05 Feb 2020 | 17% | +2.1% |
Top three, I think you are at risk and should think about that. Unless you have the capital and time and want more TSLA stock.Just finished my day at work, looked at the stock price while trading in my Model Y with steering problem for a Herz Nissan Rogue rental. It felt like the world collapsed around me. Had 10% margin left and tomorrow will be margin called like never. Please share your thoughts on how to optimize my margin situation. Already got ChefBoyardee tip n tricks and that was my order of thought, let me know if you’d change the order or do something different.
I have 10x 18/2/2022 -p925 with 325k margin impairment
10x 18/3/2022 -p930 with 365k margin impairment
5x 14/04/2022 -p1000 with 220k margin impairment
10x 20/01/2023 -p1500 with 950k margin impairment
1x 11/2/2022 -p910 with 25k margin impairment.
With the last week my free margin went from 1M to 200k, not even 10% left from the 50% I had 2 weeks ago. With the drop from today I will be in margin call tomorrow, probably around 500k
On 10/1/2022, I filled the transfer form and I am transferring 500k in stock from another account to increase my margin power. I have some 70k cash in personnal accounts that was intended to buy kid investments REEE.
I closed My CCs today that were +85% 24x 4/2/2022 1285CCs. Could sell new agressive CCs to improve margin. Bought 3 x LEAPs expiring 2024. 500,1000 and 1400 strikes.
My next steps were
1) Transfer 500k of equity to my trading account for margin power, the process is ongoing and the funds should arrive beginning of next week.
2) Transfer 70k of free cash from personal account to business trading account
3) Buy a 20/1/2023 p1000 to convert into a BPS LEAP and forget about any profit that could have been made with that option but free another 500k of margin
Or close it at a 200k loss already and use that 950k margin to do 30% OTM weeklies and build back slowly over time.
4)Sell an agressive CC in the 900s against all my shares
5) close all my positions and buy LEAPS?
Let me know if something else could be done or a better order of proceeding.
My thoughts are with all the one with BPS drawning to oblivion. These are difficult times.
Did you roll these down or just out?
I am trying to figure out what to do with my 940's and 950's (these were already rolled down and out to 2/4 and 2/11 respectively). I fear this dip could last quite a while.
Did he predict - “elon to snap a loss from the jaws of victory “?My portfolio is still locked at TD. As Tesla was falling I had to keep selling other assets and keep pulling money from RRSP to stay out of margin. Now I'll have to wait for everything to settle.
But it's good to know that I can count on Elon to snap a loss from the jaw of victory. I may still be able to buy back my position cheaply once I'm let go.
BTW @tivoboy answered me offline before earnings call, and he killed it...