The +$100/week freight train is running me over, especially the deeper ITM calls, it's getting hard to roll. So I decided to roll my 9/16 -700c to 10/21 -720c for no debit/credit before it potentially gets even harder to roll. Potential proceed $720 + $45 credit = $765/share. I've been rolling this position for 2+ months now with no end in sight, but improved strike by $120/share, any not-advice?I rolled my 7/29 -$760c $82.45 (SP around $842) to 8/19 -780c $82.55 (SP around $840), $20 strike improvement, no credit or debit , cumulative credit for this position is $53, so potential assignment proceed= $833/share
also rolled 7/29 -$740c $101.9 (SP around $841) to 8/19 -750c $104 (SP around $841), $10 strike improvement, $2 credit, cumulative credit for this is $61 so potential assignment proceed = $811/share
Leaving my 9/16 -700c (rolled from 5/27 -600c with credit) alone for now with 7.2 weeks left, there's still intrinsic on that one to decay
While I have missed gains, this has been a good situation to me 1 contract is for paying off margin and the other one is to pay for the almost monthly increasing Model Y cost, as long as I can keep up with margin interest/model Y interest increase, I'm content. This sure beats trying to work on my margin call spreadsheet everyday
originally:
5/27 -600c
9/16 -700c
10/21 -720c
Kept the 8/19 -780c as is (cumulative credit $53), potential assignment proceed = $833/share.
In the tax free account, I do feel the fomo a little bit, so I closed the 8/19 -750c at a loss because I'm worried that if it goes parabolic (think $1200+), I will not have enough cash to roll anymore. (I can't contribute more money into this account due to tax rules, limited to $6k contribution a year) I had to take a $178 loss ouch. (minus $61 credit, net loss $117, but at least i get to keep the shares if it ) I will need the shares to go to $1040+ for me to gain back this loss. So if the SP dumps then I just took a loss for nothing. Right now there is nothing open in this account, but I'm not sure if I should open a new CC or wait until after the shareholder meeting/split.
With all that said, it's mostly just missed gains, there is not actual "loss", other than the loss buying back the 8/19 -750c, definitely a good problem to have over being margin called