what strike?
i think tom or Fri is reversal (happy to be wrong)
You were right
-4% premarket, already.
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what strike?
i think tom or Fri is reversal (happy to be wrong)
Triple-Witching no doubt a big factor this week, Max Pain is now $660 for $TSLAYou were right
-4% premarket, already.
Not advice requested. I'm holding August 2022 bps: -1100/+900. Extrinsic value around $2.
Should I manage these now of give it a couple more weeks? If q2 numbers surprise to the upside I think 800 is easily reachable. Maybe 900. But dunno how much more steam we could gain in a mere two months.
You could switch it to a calendar spread - keep the +$900's and just roll the -$1100's out and get a small credit, then when we dump some more - sell the +$900's and wait a couple of days for a pop and rebuy the matching expiration for the rolled -$1100's maybe even widening the spread for easier options later.Not advice requested. I'm holding August 2022 bps: -1100/+900. Extrinsic value around $2.
Should I manage these now of give it a couple more weeks? If q2 numbers surprise to the upside I think 800 is easily reachable. Maybe 900. But dunno how much more steam we could gain in a mere two months.
You could switch it to a calendar spread - keep the +$900's and just roll the -$1100's out and get a small credit, then when we dump some more - sell the +$900's and wait a couple of days for a pop and rebuy the matching expiration for the rolled -$1100's maybe even widening the spread for easier options later.
Yes but should be somewhat offset by the selling of the more valuable bought side Puts.This is a really interesting idea. The only problem I see is selling the long put and waiting to rebuy the matching put would demand a lot of margin backing- in the short term at least.
Well..., the good news is they are safe....Hopefully the 810s don't get threatened the next two days.
We've been in a similar boat for a while and I'm gonna assume you have margin constraints that won't let you convert to a calendar spread and manage from there. Or you're in an IRA like me.Not advice requested. I'm holding August 2022 bps: -1100/+900. Extrinsic value around $2.
Should I manage these now of give it a couple more weeks? If q2 numbers surprise to the upside I think 800 is easily reachable. Maybe 900. But dunno how much more steam we could gain in a mere two months.
if in doubt, read and memorize the advice from my kitchen magnetYou were right
oh, i like thatYou could switch it to a calendar spread - keep the +$900's and just roll the -$1100's out and get a small credit, then when we dump some more - sell the +$900's and wait a couple of days for a pop and rebuy the matching expiration for the rolled -$1100's maybe even widening the spread for easier options later.
This is similar to what I have been doing. I have really changed my thinking on the value of long puts in a BPS. These aren't just "insurance puts" to expire worthless, but can really be used as an advantage with these big drops we are having.You could switch it to a calendar spread - keep the +$900's and just roll the -$1100's out and get a small credit, then when we dump some more - sell the +$900's and wait a couple of days for a pop and rebuy the matching expiration for the rolled -$1100's maybe even widening the spread for easier options later.
This thread looks like technical more than the other thread so I wanted to post this here but probably doesn't matter too much. Our 52 week low is going to be creeping up the next couple of days from 608 to 620ish.
I'm still sitting on the sidelines while waiting for a recovery
I'm with you. I have 620 Puts for Friday I almost want to see exercised.... With the premium, I'm getting shares for around 610. Seems like a bargain.Damn, when will this craziness stop? I really expected use to hold above 650 and near 655 Friday close. I closed all my CCs for 50-75% profit this AM, hoping for a relief rally. Alas too early. Anyway bought another handful of shares at 652.xx