Heads-up, the OTM puts beginning to accumulate for 6th Jan expiry:
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$120 on a buy-write on $115 shares, looks like rock and roll! Would be amazing to see $150!Has anyone opened any CC's for next week. I am thinking about 155-150's? I might wait until tomorrow.
1) The minimum CC strike is $60Thanks for your post; excellent opportunity to clarify the strategy in my mind:
1) You bought a 60c LEAP for $70 -
does this mean your minimum CC strike is $130 ($60+70)?
2) If you sell a LEAP based $150c and the SP blows through it -
what is the management strategy - buy it back? rolling? cash in the LEAP?
3) As the Expiration approaches,
do you roll it, exercise it, sell it…?
4) The pros seem good enough; if I went ALL IN,
what are the cons to having a ONLY LEAPS portfolio?
Taxes? Risks? Liquidity? Leverage?
A word of caution. TSLA can and has done in the past what you are saying can't happen.1) The minimum CC strike is $60
2) I'll roll one week out or up a little bit. As I mentioned, 150-160 resistance is very hard to break within 1 week. Especially when the stock jump all the way from 108-150 (almost 50%), it has to have some kind of exhaustion before going anywhere. Worst case scenario, I will cash the LEAP and let my shares go.
3) If you're asking when the LEAP expiration approaches, I might just BTC 6-9 months before that date.
4) @adiggs and @Max Plaid got excellent points. I don't really have an answer as this is just an experiment for me.
Hope that helps.
A word of caution. TSLA can and has done in the past what you are saying can't happen.
Most recently last year - with the announcement of Hertz buying a couple of cars... Then we ran wayyyy past all resistance in a Gamma squeeze up.
It can and will happen again, but these are the types of problems we hope to have.
Just this month we have experienced a Gamma squeeze down - going from $200+ down to $106.. most of us here didn't think that would happen either.
Just be safe - and that is advice.
? You can make money by1) The minimum CC strike is $60 ...
Dead cat bounce: DCBs lead to lower lows. Just because we haven't seen consolidation doesn't mean we're in a DCB. We may very well go down again to near the low and chop around for a bit. That'd be the consolidation needed. I think we went way past the point of consolidation, though, as this crash in TSLA stock is beyond reasons. Past 160, market participants have had ample time and opportunities to load up on the stock on zero valid fundamental concerns at all so if we have a good P&D, I say we just rocket up from here. No lookie backsie.CGS thinking it’s a dead cat bounce since there was no consolidation phase down to signal a bottom.
Some other saying it’s not dead at bounce because volume is high so a lot of buyers stepping in.
Cory from stocks channel calling for a rally to 173 or even 196 because we just saw full blown capitulation so now buyers can step in
MauroBianchi calling for W-4 wave flushing to $80 and got a target in the 70-80 zone for March, pretty much like CGS
I wonder what @dl003 sees with technical analysis as the predictions are all over the charts!
decision time for my 12/30 -c122 B/W, cost basis 122... to roll or not to roll, that is the dilemmaAll happening at c125 so far today, looking like this week's shitputs are all going to expire worthless, a battle may be won, but the war not yet..
MM's/Hedgies/Wedgies would likely love to pin 120 at close...
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Same here, I had resigned myself to the stock dropping to $60 and spoke to the wife about the situation, we both agreed that it made no sense to sell at these prices and to ride out the stormWell, they say market only bottoms after most people have given up. This retail (me) had already given up. I stopped checking the SP first thing every morning and accepted it may just go down and I was ok with that. I talked to my SO about temporarily lowering our standard of living for a year or 2. Now we can go up - I say this in the most dispassionately manner possible.
I would say it depends whether you need, or would be more comfortable, with the cash. Otherwise, if it were me, I'd take the credit for the roll and I'd keep rolling them until I couldn't, but that's me and not advice to youdecision time for my 12/30 -c122 B/W, cost basis 122... to roll or not to roll, that is the dilemma
if it expires today, i don't want to carry these shares into next week in case P&D is bad
on the other hand, i want these shares moved to next week (good 5.60 credit)
thinking
thinking