I am also fully loaded with $870cc for Friday and I have some orders to sell my Dec 16th 1200cc hedge that are getting close to my price target..
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
I am also fully loaded with $870cc for Friday and I have some orders to sell my Dec 16th 1200cc hedge that are getting close to my price target..
ooops, not aging well so far
. I'm going to stay put for now, lot of trading left for the week.
bkp_duke
Well-Known Member
Call to Put ratio on trades so far today for TSLA is 1.68:1. 289,171 options trades so far.
Very bullish.
Very bullish.
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Wednesday is always a bit of a reverse point.ooops, not aging well so far
Generally, MM's leave the stock a bit alone and get stricter to get it to or below max pain by the end of the week.
Max pain is 820, and previous weeks we always closed below on Friday.
I'm not too worried.
I've closed a 800-750bps which I opened last week Friday, for +60% profit.
Today I set up a 850-900bcs for 800 credit which got snagged up when the SP was about 830, so maybe a bit early
.Sorry for the late response...NOT ADVICE:
Margin is tied up and you are likely going to have to introduce additional contracts to get back to the same strike price you are currently at. For example, let's say I have 5 JAN 2024 900's, that will likely mean I need 15 AUG 900-950's if I roll them forward. More for a lower strike price. This also changes depending on the stock price and depending on the delta of the strike.
I only play with about 30-40% margin because I want wiggle room to maneuver. At some point, I am anticipating that I am going to have to be "risky" and hold more contracts than I would feel comfortable with to get rid of these AUG 900's and JAN 2024 900's off my hands. Hope that makes sense.
The 3/18 800 CC are trading at 41.50, getting close to the wire, pricey move out, oh well. I'm not sure if call pricing increases more ITM than put pricing as they go ITM. Anyone know if that is the case or is it that I roll out of BPS earlier than CC to notice the same?ooops, not aging well so far
I think there's a pretty good chance we're above 880 in a month, yes.
I keep feeling better and better about my roll yesterday; as of this morning, cost to roll per spread would have been $3100, or 72% more!
I think there's a pretty good chance we're above 880 in a month, yes.
In my experience BPS rolls get less expensive when SP goes up. It seems like the reverse was true in your case. Is it because they are ITM?
mickificki
Member
Thanks @mickificki - market either hasn't figured that one out yet, or doesn't care.
STO 3/18 890c @$1.80 for a quick cash grab.
Watch us go through the roof from here. You're welcome.
STO 3/18 890c @$1.80 for a quick cash grab.
Watch us go through the roof from here. You're welcome.
mickificki
Member
yeah i did similar, STO 3/18 895 though a much lower $1.29 earlier this morning after finding out about the Shanghai closure. I think the Shanghai closure will be longer than 2 days.
For this week a LOT is probably riding on the Fed's Powell and what he says in today's Q&A.
Yes - the long leg was so deep ITM that extrinsic value was decreasing.
Ok, II'll share my miss of the day. I got busy with work and missed the dip after the fed announcement, what would have been a great time to roll either or both CC to next week or later. Either someone is getting shares at 800 overnight or I get a chance first thing in the morning to move out. Extrinsic is still high, covering the price going up, not sure how long that will last though, or whether the call buyer is wanting to sell the call or commit to buy the shares. Ideally, I have a Roll Thursday opportunity.
Yeah, me too, but I'd be surprised not to see prices lower by EOD Friday.
dc_h
Active Member
Guess I did something right, I rolled 710-610 BPS near the bottom. I have covered calls at 900, which are now my worry. If we have a dip tomorrow, I'll close or roll up to 1000 for next week. Still sitting on 855-755 BPS for 4/1 and think we can melt up, assuming we don't get any new surprises.
Sorry trying to understand. When you say near the bottom do you mean the low of the SP? Because you would actually pay more(get less credit) for the roll if this was done at 802/803.
I still have my covered calls at 820, 845 and 875. The 820s are not looking good and I don't want to lose my shares so would be looking to roll these on any dip tomorrow.
For the 820s what are the chances of early assignment tomorrow and losing my shares? I have experience with cash secured puts and those have got assigned on Thursdays.
It all depends on the time value left. For $820's it looks a bit over $8 of time value currently so not much risk of early assignment until that gets much lower.
Today offered a chance to roll my 820/860 and 800/900 BPS for another week. I'll be glad when these finally go as it'll free up some much needed margin again. With the limited margin I had I opened 900/950 BCS for this week and 700/750 BPS for next week and feel comfortable with both of those.
OFF TOPIC
re: W-8BEN
For those trading from outside of the USA,
did you fill out the W8 tax withholding form?
Section 2 Line 10 is looking for tax articles & paragraphs.
Logic suggests it is the same entries for everyone and
I thought I’d check here to see if that is true.
Can anyone confirm the following entries for the 3 blanks:
Art 11(2) & Art 12(2)
25, 15%
25% Dividend Tax and 15% Interest tax
Thanks…
re: W-8BEN
For those trading from outside of the USA,
did you fill out the W8 tax withholding form?
Section 2 Line 10 is looking for tax articles & paragraphs.
Logic suggests it is the same entries for everyone and
I thought I’d check here to see if that is true.
Can anyone confirm the following entries for the 3 blanks:
Art 11(2) & Art 12(2)
25, 15%
25% Dividend Tax and 15% Interest tax
Thanks…
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