If it's IBKR's fault, I'm sure you'll have a case to sue them. With that threat on their shoulder, I highly doubt any broker would mess up the updating of the strike price. They might fail to deliver the shares to you on time (I didn't see my split shares until a few days later), but they won't margin call you due to a mistake on their end.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
If it's IBKR's fault, I'm sure you'll have a case to sue them. With that threat on their shoulder, I highly doubt any broker would mess up the updating of the strike price. They might fail to deliver the shares to you on time (I didn't see my split shares until a few days later), but they won't margin call you due to a mistake on their end.
I don't believe you would get a margin call. Fidelity account last time simply changed all positions to "pending update" for a few days.
Thanks guys. That at least gives us peace of mind. It's a pretty big broker so I have to trust they have a system in place. Lol I can also see how not getting your shares until after a few days can be concerning. There would be posts on message boards asking how come their share portfolio just dropped by a huge amount lol.
Last split shares showed up, but the new value didn't correct itself until after some time.. for a couple of days I was rich
mickificki
Member
due to low volume, i decided to open quick Iron Condor 4/22 873-1125, maybe close it on Wed (or not)
i think mid-BB and 100SMA will protect me, as it did the last 5 days
i think mid-BB and 100SMA will protect me, as it did the last 5 days
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This should be moved to the other thread. I am more used to see these comments in the other thread. I don’t know which Emoji to use for this post.
on another side note, I called many times Nation Bank brockerage to get my margin rate down from 3.75% to anything more descent and they offered me 3.00% if I transferred over 3M in assets from my IBKR account. I told them but IBKR is offering 1.05% on US funds over a certain amount. Their response: “But we can assign you a private director to your account which you can join anytime via email or direct line, IBKR doesn’t have a good customer service like we do“. Now, who would be ready here to pay an extra 20k-30k in interest fees annually for a private account director?
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jeewee3000
Active Member
I'm curious if some of you are playing earnings this week, and if so: how.
I currently have no expirations before May 20th, and many of those are sold puts so I'm hedged more bullishly than bearishly.
If we'd see a buy the rumor SP spike today or (more likely) tomorrow, I think I'll sell some covered calls (I think 4/22's, only 4/29 if premiums are way too low) to try and (ab)use the IV crush this Thursday/Friday.
Would love to pick strikes above $1150 at least, but more preferably above $1200. (20% out from current SP)
GLTA
I currently have no expirations before May 20th, and many of those are sold puts so I'm hedged more bullishly than bearishly.
If we'd see a buy the rumor SP spike today or (more likely) tomorrow, I think I'll sell some covered calls (I think 4/22's, only 4/29 if premiums are way too low) to try and (ab)use the IV crush this Thursday/Friday.
Would love to pick strikes above $1150 at least, but more preferably above $1200. (20% out from current SP)
GLTA
I'm currently trying to sell CC's @ 1150 but waiting for a decent rise. They peaked at around $3.20 yesterday but are currently only around $2.50. I have an order in at $3.00 but will move up/down as needed depending on the days action. Happy to also wait till earnings are out if it comes to that.
Edit: Sold the CC's at $3.00 when the stock first hit $1030. I also sold 1150/1200 BCS for $1.65 (should have been $1.85).
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jeewee3000
Active Member
this wk is -11.76% to +13.78% for 3 DTE
Sold Dec 22 - 2200 CC's (~$14 each) and got me ~ another 100 shares.
(+ 600 more shares since the Feb melt down - back to all my shares having CC's against them once again). cheers!!
(+ 600 more shares since the Feb melt down - back to all my shares having CC's against them once again). cheers!!
jeewee3000
Active Member
And did you sell a cc against the newly acquired 100 shares?
Yes, that's the mantra
1. Sell CC's to hedge against SP drop
2.Buy more shares to hedge against sold CC's.
3. If SP dips a lot, sell pi(cc)ggy bank shares and buy leaps.
4. If SP nears CC's positions - Manage position as necessary.(Sell shares as required)
Sorry, I meant the wing width. I edited my post while you were replying.
TheTalkingMule
Distributed Energy Enthusiast
Nobody seems particularly concerned about getting steamrolled here. Remember.....MM's don't care about TSLA going up or down, they care about money out of the options market.
In January the wider options market get crushed when it was assumed TSLA might never drop below 900/1000 again. Now everyone's sitting here thinking 900 is more likely than 1200.
Watch out!
I'm not selling anything short term in these next two weeks until I see some clear directional movement early next week. Even then I'm looking out for a period of extreme volatility.
Nothing wrong with only making .25% in the next 5 trading days if it saves you from losing shares.
In January the wider options market get crushed when it was assumed TSLA might never drop below 900/1000 again. Now everyone's sitting here thinking 900 is more likely than 1200.
Watch out!
I'm not selling anything short term in these next two weeks until I see some clear directional movement early next week. Even then I'm looking out for a period of extreme volatility.
Nothing wrong with only making .25% in the next 5 trading days if it saves you from losing shares.
Earnings week:
Fortunately I opened my BPS positions (900s and 850s) last Friday when we had a down day. The rumors of Giga Shanghai returning online started so I wanted to hold some positions knowing there’s a good chance of up days next week before the earning. Now my positions are all 80% plus profit. I’m looking to close out these positions before Wednesday as the risk reward isn’t worth it.
Next 2 potential moves:
I believe with Giga Shanghai News and the positive earnings I may want to open new BPS positions 15% OTM for next week already. Since I truly like to sell on strength hoping we have a down day tomorrow.
OR
If Macros were terrible than I already made my play for the earnings week last Friday and would just sit out. Fortunately I don’t think this is the case hopefully and I’m not likely leaning towards this. Am I missing something thinking macro isn’t all that bad?
Fortunately I opened my BPS positions (900s and 850s) last Friday when we had a down day. The rumors of Giga Shanghai returning online started so I wanted to hold some positions knowing there’s a good chance of up days next week before the earning. Now my positions are all 80% plus profit. I’m looking to close out these positions before Wednesday as the risk reward isn’t worth it.
Next 2 potential moves:
I believe with Giga Shanghai News and the positive earnings I may want to open new BPS positions 15% OTM for next week already. Since I truly like to sell on strength hoping we have a down day tomorrow.
OR
If Macros were terrible than I already made my play for the earnings week last Friday and would just sit out. Fortunately I don’t think this is the case hopefully and I’m not likely leaning towards this. Am I missing something thinking macro isn’t all that bad?
scubastevo80
Member
I just opened an IC 5% OTM on the upside and 7.5% downside after we appeared to have peaked for the day. Hoping to close by EOD to avoid another pre-earnings move tomorrow.
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