Usually at the mid-point of the spread you can roll without a debit. Above that you can roll for credit. I'm hoping I can roll without a debit with the SP a little lower due to having higher extrinsic in the long leg vs the short leg when the short leg is that far OTM....
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
I did another 50 contracts. Maybe I can help everyone's BPSs....
I have Dec. +850/-1150 which I will roll to 2024 in a few months if the SP isn't looking good. Right now I'm just trying to earn as much money as I can to pay for the rolls.
corduroy
Active Member
STO some 7/8 +760c's for $1.25, and order to close at .50 I can't see us getting above $730 today, but I'm frequently wrong on the call side.
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Yep, I have some longer term puts I'll need to roll, thinking to put them into Nov. They are currently exp Aug/Sept at $1000 and $1050. These have been great however, even though underwater currently. I expect them to be fine post 1 month after Q3 earnings.
Knightshade
Well-Known Member
I've got some -750 CCs for 7/8 that I'm still not tooooo worried about.... but let's say I did end up worried...anybody have any thoughts on what the ideal roll would be if we suddenly start seeing some movement north of 730 in the stock price?
I think the difference this quarter is that it is all Macro related (we aren't climbing 20% on Q2 Earnings FOMO. But NASDAQ could climb 10% in the next couple weeks if the market decides inflation is behind us, and that would mean 20+% TSLA....
Just sold a 750 for tomorrow. Up up and away now. lol
That Tuesday close of ~699.99999 has me feeling ok about it though.
That Tuesday close of ~699.99999 has me feeling ok about it though.
Knightshade
Well-Known Member
I was actually curious how this'd look... SP at $724.60 going with a 690 put is actually a net debit. Going with a 695 is a tiny (~25 cent) credit, and 700 put is a $1.19 credit.
That pricing seems to suggest 700 still measurably more likely than 750 for Friday
Still can't get the idea out of my head.. so my head searches for solutions.
One idea i just had:
Making a Fund is slow, expensive and a legal hassle.
What if we together do "algorithmic trading". I have the expertise & knowledge to write software for this. Every major broker with their client-software offers plugins or similar to interface (and even do trades!) via external programs. To be on the safe side legally i devised this plan:
- Participating members install a program on their pc to control the trading & an app on their phone.
- vetted TMC-Mebers can suggest trades onto that group in real-time (or you can add a whitelist).
- you get a notification on your phone for a trade with some basic info:
- what
- P/L-diagram
- reasoning
- additionally an "always trust this person"-option.
- you can then accept the trade on your phone anywhere so even time-critical trades are possible
- the trade-order gets send to the program running on your pc while you go on with your normal life (and jobs ..
)Legally you STILL do the trade. I don't know if that counts as "financial advice" and how you get around THAT legally .. but to an onlooker this looks like you are still in control of everything and do all the trades manually.
I have the knowledge (programming-wise) and the infrastructure (server-wise) to get that going.
BUT this depends on a few things:
- I must be able to live from the earnings of this program to dedicate all my time to it & fix problems immediately (think: ~$2000/month are enough)
- Some Members here (looking at you, @Yoona , @BornToFly and others
) must be willing to feed trades into it- Users must actually be willing to risk their hard-earned money with this.
I can have a prototype ready (interfacing with IBKR as i already have that one going) in about two weeks (calendar-weeks, not elon-weeks
) and would then have to look into other brokerage-softwares (like fidelity or whatever you all use ).Anyone interested in such a plan?
Watch the IV and roll before it spikes on a macro move up. Roll to something like a week or two after Q2 earnings in hopes that stock will be pushed down by lower than expected EPS and production?
I'm looking to roll puts so I'm kinda doing the opposite...I've been too chicken to do CCs until we pass into the 800s.
Sold 10x 755/775 BCS .. because no margin left for naked short calls ...
edit: With VIX <26 since weeks ... should one buy VIX 30c as insurance?
Something a little weird I noticed - call volume on the $725 and $750 side for 07/08 (this week) is anemic compared to a normal 4% up day.
Usually that would be 50k plus contracts so far by 11am but are only around 17k for the $735 and 27k for the $750
Not sure what to make of this but it is weird to me.
Usually that would be 50k plus contracts so far by 11am but are only around 17k for the $735 and 27k for the $750
Not sure what to make of this but it is weird to me.
Xepa777
Banned
I would contribute 200 shares to this lolStill can't get the idea out of my head.. so my head searches for solutions.
One idea i just had:
Making a Fund is slow, expensive and a legal hassle.
What if we together do "algorithmic trading". I have the expertise & knowledge to write software for this. Every major broker with their client-software offers plugins or similar to interface (and even do trades!) via external programs. To be on the safe side legally i devised this plan:
- Participating members install a program on their pc to control the trading & an app on their phone.
- vetted TMC-Mebers can suggest trades onto that group in real-time (or you can add a whitelist).
- you get a notification on your phone for a trade with some basic info:
- what
- P/L-diagram
- reasoning
- additionally an "always trust this person"-option.
- you can then accept the trade on your phone anywhere so even time-critical trades are possible
- the trade-order gets send to the program running on your pc while you go on with your normal life (and jobs ..
Legally you STILL do the trade. I don't know if that counts as "financial advice" and how you get around THAT legally .. but to an onlooker this looks like you are still in control of everything and do all the trades manually.
I have the knowledge (programming-wise) and the infrastructure (server-wise) to get that going.
BUT this depends on a few things:
- I must be able to live from the earnings of this program to dedicate all my time to it & fix problems immediately (think: ~$2000/month are enough)
- Some Members here (looking at you, @Yoona , @BornToFly and others
- Users must actually be willing to risk their hard-earned money with this.
I can have a prototype ready (interfacing with IBKR as i already have that one going) in about two weeks (calendar-weeks, not elon-weeks
Anyone interested in such a plan?
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