The 5 indicators of one trader I know are indicating the likelihood of a rebound this week. Statistically speaking.
I regret selling my 770CC Friday. Will roll them to next week up and out if he is right.
good luck everybody for this week.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
The 5 indicators of one trader I know are indicating the likelihood of a rebound this week. Statistically speaking.
I regret selling my 770CC Friday. Will roll them to next week up and out if he is right.
good luck everybody for this week.
hope he is right... in the last 4 consecutive quarters, TSLA is
2-14% one week after triple-witching OpEx.
I have a question for the more experienced (than me) option trader crowd here:
Got some 700 strike covered calls expiring this Friday and I fear they may become ITM this week.
Is it better to roll them to later and up in strike price early in the week before the SP has a chance to rise or better to wait closer to Friday for the time decay to do its job ?
Looking for some not-an-advice...
Got some 700 strike covered calls expiring this Friday and I fear they may become ITM this week.
Is it better to roll them to later and up in strike price early in the week before the SP has a chance to rise or better to wait closer to Friday for the time decay to do its job ?
Looking for some not-an-advice...
I like to roll before it gets ITM. So in your case if I see it break 700 and stay above that I might just roll them to next week. In general I think folks in this thread like to wait until Thursday or Friday to roll. Given how oversold we are, you just have to be wary of another March like run where the stock market seemingly ran out of sellers
I sold some 770cc for $1.2-1.5 and a $750 for $3. I will wait to sell more after 10:30 to see if keeps on climbing.
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BrownOuttaSpec
Active Member
Agree with @vikings123. In general, you get a better roll (amount of strike improvement and credit) if you roll before it goes ITM, but that has to be balanced with the potential the CC won’t be ITM on expiration day, and the opposite possibility that the SP could rise even farther away from the strike price. At a certain point, DITM CC are difficult to roll. In my experience, rolling for months only works if there is an eventual retrenchment in SP back to the level of the latest strike in the series of rolls. That usually requires a lot of patience, and limits income potential from CC, but you have the additional capital gains captured by the strike improvements.
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BrownOuttaSpec
Active Member
So far this would have been a heck of a deal/move, I wish I did it.
Thanks again for all your ideas/data throughout this thread. 
I got screwed with my plan. Bought 1000 shares at the open ($678) and placed a Sell Stop loss order for what I bought them for. The Sell ordered triggered on a micro dip before the big run over 700. Doh!
Also opened BCS 810/910 and 820/920 (for Friday) a little too early.
Also opened BCS 810/910 and 820/920 (for Friday) a little too early.
My 770CCs for this Friday are already an incredible -350%
However, I learned I don’t care rolling CCs endlessly, they mean I never have to care about margin calls.
Selling uncovered calls might be the most stressful thing ever.
Like usual no one knows what is going to happen but I hope that his is right. Lots of us would love for him to right 
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I sold an $800 weekly for a buck around 10am on 100 shiny new shares that I bought Friday for $900 a pop!
#OptionsFTW!
#OptionsFTW!
All weekend I was having heart burn over the fear that we would drop to 600 today. Now I'm having heart burn that we go over 800 by Friday. I need to stop doing this and go back to work.... 
All weekend I was having heart burn over the fear that we would drop to 600 today. Now I'm having heart burn that we go over 800 by Friday. I need to stop doing this and go back to work....
Same situation as you. I told my financial advisor to liquidate part of my TFSA to finance the 2% purchase of a private company for this week because I wanted to keep my personal money liquidity available in case of a margin call if we broke support at $620 and went to $571.
Now I am looking at my options to roll my 770CCs that are going to go underwater in less than 1 day?
TSLA is the greatest roller coaster ride of all time.
jeewee3000
Active Member
Today I'm repeating to myself: "TSLA will dip again."
It's weird how one (deep) green day gives me the feeling the rocket has launched and won't be halted before ATH. But when I think about it rationally I don't think that will be the case and I can roll calls until we see drops again.
FOMO is real. Respect to for example @adiggs for staying (largely?) in cash and not caring about how high/low the SP is.
those with CCs shouldn't panic yet - THAT'S ME
today we will probably be on the Top 20 TSLA Daily Rise, but there is a 60% probability of a reverse tomorrow
Top 50 rises have 62% chance of reverse next day
Top 100 rises have 58% chance of reverse next day
today we will probably be on the Top 20 TSLA Daily Rise, but there is a 60% probability of a reverse tomorrow
Top 50 rises have 62% chance of reverse next day
Top 100 rises have 58% chance of reverse next day
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STO 6/24 755CC for $10 on the buy-write from a few weeks back. Last weeks 720CC expired worthless. As of today. I've collected a total of $44 on the same 100 shares. Using Friday's options date, looked like this week was setting up to be between 575 (sell csp - on the slide down) and 755 (sell cc - done). Sticking with these income trades only this week, the rest are fix-up.
While I like the upside, I am concerned of going into low sixes while holding far out DITM puts. The roll plan I laid out didn't take, what should have been a credit is now debit and oddly became costlier as the price went up. Will watch it on way down today.
While I like the upside, I am concerned of going into low sixes while holding far out DITM puts. The roll plan I laid out didn't take, what should have been a credit is now debit and oddly became costlier as the price went up. Will watch it on way down today.
I sold 25x 900CC just before last run up, rolled them to 980 then 1030. Stock price reached 1150 so I abandonned and rolled them to 1500 in August. Closed them from when they were -99% when stock price reached $650. I learned to be patient with CCs.
With Puts it’s different if they are not CSP and relaying on the margin from TSLA since margin contraction causes some stress at some point and rolling becomes harder and harder the more DITM they become because every roll has greater margin impact.
with my 6/17 -2475CC and 6/17 -710CC expired last Friday, I can open new CC's again. I thought about closing those early in order to capture more premium last friday as I was feeling bearish about this week, and woke up pleasantly surprised.
STO 6/24 750 CC for $10 a few minutes ago. I'm ok letting these assigned as part of my de-risk to cash. If not then that's a nice 1% a week. I was deciding whether to sell ATM $725CC for $20 ish but decided to do $750 to capture a little bit more profit on the shares if it does happen.
positions: 6/24 -750cc
9/16 -700cc
STO 6/24 750 CC for $10 a few minutes ago. I'm ok letting these assigned as part of my de-risk to cash. If not then that's a nice 1% a week. I was deciding whether to sell ATM $725CC for $20 ish but decided to do $750 to capture a little bit more profit on the shares if it does happen.
positions: 6/24 -750cc
9/16 -700cc
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