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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
TheTalkingMule
Distributed Energy Enthusiast
Nice Monday pop and I assume folks are selling their weekly CC's like mad. One of these weeks the pattern is gonna turn and TSLA will chug far higher, but I doubt this is it. We'll probably see more churning and MM's keeping things capped near max pain for Friday.
Good luck to all!
Good luck to all!
I generally set up a put spread to enjoy the rise on monday, take profits during the week and a call spread closer ATM to expect a drop on Thursday and Friday, if max pain and open interest chart indicates so.
I sold a few CC 940 and 945. I am going to wait and see what happens in the afternoon to sell more.
Initially anemic trading right at 855 MaxPain, according to the MM script. Fairly weak MMD initially, so maybe they are happy and nothing to do. Anyway, I felt like this would happen so bought c880s at $10+/- late Friday, then sold at the open for $19.xx. Waited to see if the rise would continue and when it didn’t, sold -c905s for $7-$10. Definitely missed the “top”, but we’re in a fairly poor macro situation so I doubt the 900 call wall will be broken without major positive news. Waiting for the quarter end rise …..drip….drip….drip.
TheTalkingMule
Distributed Energy Enthusiast
Jesus. To be able to sell safe CC weeklies at the Monday open and safe BPS 75 minutes later.
A pretty easy 2% to be had this week and I have no cash/margin!
Hope you're all writing Putin thank you letters.
A pretty easy 2% to be had this week and I have no cash/margin!
Hope you're all writing Putin thank you letters.
I end up closing the put this morning and made $759. Like others I am kind of worry about the downside. I rolled half of my 820/770 BPS for March 22nd to April 22nd while closing a few. I think I am going to sell some Dec 22 CC on all my shares as a little downside protection. I am thinking $1250-1300 strike when I can get $200 per week premium per contract which is essentially me losing my shares at about $1320-1370ish IIRC. I just feel like selling weekly calls right now could be risky and may end my end up losing my shares at a price that is too low or end up in a forever roll trying to be aggressive to collect a decent premium.
I don't get the Buy 830/ Sell 820. I guess you think the SP is going to be between 820 and 725 at Expiration? I think after Q1 numbers, we are above 830, so in that scenario, you would be better off just selling the 725, right?
scubastevo80
Member
STO BCS 3/11 -955/+1055 @ $2.30 and just closed at $0.89 - first trade since my call debit spread screw up about a week ago.. I'm likely to be a sub 5 DTE BCS writer on any strength given inflation and the conflict and what we've seen via @Papafox 's charts lately. Obviously a simultaneous end to the conflict and drop in oil prices may create problems, but I'll likely unwind anything at the slightest hint of liftoff - including my BPS which I'd love close out.
Sold quite a few -c900's at the open, then rolled those written against c850 expiring next week down to -c850
GOOGL -p/-c2675 straddles in play, opened last week, one side doing great, the other less so, very surprised to see $GOOGL down 3% on no specific news, but no problem, the roll options are very good
Waiting on some strength writing $AAPL calls - the rolls on this stock are no good at all when they go ITM, you need to go out months to roll up a strike... looking for -c170's for some gravy
GOOGL -p/-c2675 straddles in play, opened last week, one side doing great, the other less so, very surprised to see $GOOGL down 3% on no specific news, but no problem, the roll options are very good
Waiting on some strength writing $AAPL calls - the rolls on this stock are no good at all when they go ITM, you need to go out months to roll up a strike... looking for -c170's for some gravy
Smōl potatoes but I've been loving selling calls on these temporary rips. Had to visit a doctor today. Sold the call while waiting and bought it back when I got home. Sure, could sell for less now but as those of us who have been burned know, close these things on quick gains. lol
I'm still saving my pennies to write puts. Maybe I'm a fool but I'm not going to play with margin.
I'm still saving my pennies to write puts. Maybe I'm a fool but I'm not going to play with margin.
Yeah insane. I already closed my CC at 80% profit. Like usual I wish I had sold more lol:
With the share price down I added cash secured 750 puts for this Friday just under $7 each. I think I read that there will be a CPI report out later this week and that is my primary worry. That an inflation reading / update will pull inflation back more into the spotlight, with the typical reaction that has brought recently. That reaction isn't for certain, having puts open as well as CC gets me benefits in either direction, and I think that 750 will continue to act as strong support on the way down.
While I was at it I also closed some of the rolled CC I had (830s and 840s). The overall round trip on these is a slight gain or a slight loss, but with the individual position at a 75% gain I'm ready for a bounce up tomorrow to sell these again. I decided that having these closed and ready to open at a strike of my choosing on the next bounce was more valuable.
I still have 750s and 820s that are in the 50% gain range which doesn't yet get them close enough to break even to proceed with the early close. Maybe the shares will keep going down today and/or tomorrow.
While I was at it I also closed some of the rolled CC I had (830s and 840s). The overall round trip on these is a slight gain or a slight loss, but with the individual position at a 75% gain I'm ready for a bounce up tomorrow to sell these again. I decided that having these closed and ready to open at a strike of my choosing on the next bounce was more valuable.
I still have 750s and 820s that are in the 50% gain range which doesn't yet get them close enough to break even to proceed with the early close. Maybe the shares will keep going down today and/or tomorrow.
corduroy
Active Member
I STO 3/11 -750p's and 3/18 550/-650 BPSs yesterday for $6.5 and $4, but just closed both for around 30-40% profit. This market has me uber-cautious right now, so taking small wins where I can get them feels better than holding.
I am not opening any new positions before the weekend. So I will milk yesterday's 3/11 650/550 BPS for everything and not close before Friday.
Where'd everybody go?
Nothing exciting, but my orders to roll 3/11 $1000CCs down to 3/11 $900CCs and 3/11 $950CC to 3/18 $900CC both executed earlier this morning.
Could have done much better if I waited, but I didn't expect strength today. I'm happy to be wrong and take one for the team!
Nothing exciting, but my orders to roll 3/11 $1000CCs down to 3/11 $900CCs and 3/11 $950CC to 3/18 $900CC both executed earlier this morning.
Could have done much better if I waited, but I didn't expect strength today. I'm happy to be wrong and take one for the team!
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