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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
While I’m wingeing about this b-w, made 2 moves after a hiatus:
- Rolled ITM 3Feb$160 to 21July$200 to create some running room (narrowing quickly!) for $1.61 debit, $40 unrealized capital gain and retention of HODL shares
- STO 10Feb$210 at $3.07 in a small account, want to get these to $227 then convert to $5-$10 OTM weekly/bi-weekly buy-writes
I continue sitting on the sidelines, neither selling puts nor calls. At least now I'm starting to watch more closely for an entry - earning some income this quarter is desirable come next quarter.
Since the accounts are all arranged on the stock price going up, sitting on the sidelines is producing a raft of unrealized gain. The account value is still low, but going back to something more like what I'm accustomed to.
Part of what continues to keep me on the sideline is remembering that a $200 share price corresponds to $600 pre-split. $600 was barely reachable on significant push downs, and none of them lasted. At $250, that would be $750 pre split, and THAT is when I no longer consider the share price to be unsustainably cheap.
That's also where some of my initial purchases on the way down are finally back to break even
Anyway - I expect I'll be selling again soon, like the next week. Still nothing reopened as yet. Those 175/150 put spreads are a lot better looking at a $195 share price than they were at a $115 share price. My what a difference a week or 2 can make!
Since the accounts are all arranged on the stock price going up, sitting on the sidelines is producing a raft of unrealized gain. The account value is still low, but going back to something more like what I'm accustomed to.
Part of what continues to keep me on the sideline is remembering that a $200 share price corresponds to $600 pre-split. $600 was barely reachable on significant push downs, and none of them lasted. At $250, that would be $750 pre split, and THAT is when I no longer consider the share price to be unsustainably cheap.
That's also where some of my initial purchases on the way down are finally back to break even
Anyway - I expect I'll be selling again soon, like the next week. Still nothing reopened as yet. Those 175/150 put spreads are a lot better looking at a $195 share price than they were at a $115 share price. My what a difference a week or 2 can make!
gabeincal
Active Member
Rolled 23 x Feb 2 135c to 23 x Feb 17 135c for $0.5 credit. Giving SP more time to settle...
Amazing how we drop 10$ in less than an hour. Had I held out the rolls of calls to next week, like most of, could have avoided debit.
Looks like tug-o-war , who will win? Call to Put, 3.8:1
Options volume (where contracts > 500)
Looks like tug-o-war , who will win? Call to Put, 3.8:1
Options volume (where contracts > 500)
How is a 65 wide BCS a better bet than a CC? You are buying a long leg (throwing money away). At $5 wide it kind of made sense because a call could go more than $5 ITM on you. But 65 wide? We were using spreads when we were using margin to limit the amount of margin being used and increase leverage. But for CC, I just don't get it. Help me....
SebastienBonny
Member
Did not expect that.
You can roll back now, but maybe better to hold higher strikes…
Blitz3RS
Member
That dip! I was able to roll my 3Feb 197.5CCs out to 220C for a nice credit. I was assured that based on the mountain of 200Cs that I was basically the initial front line to be wiped out for tomorrow morning.
None of this even makes any sense. I just didn't want to fall victim to x3 ERs resulting in more flame to the fire that post FOMC/and Meta macro rally that started.
None of this even makes any sense. I just didn't want to fall victim to x3 ERs resulting in more flame to the fire that post FOMC/and Meta macro rally that started.
First I see a new high without any bearish divergence (181 last Friday)
Then I wait for a pullback
Then I wait for a higher high with bearish divergence (197 today)
myt-e-s-l-a
Member
SebastienBonny
Member
gabeincal
Active Member
Blitz3RS
Member
SebastienBonny
Member
gabeincal
Active Member
Big tech is down 4-5% respectively. It could possibly be the end of this rally.
EVNow
Well-Known Member
LOL -not that better. You can think of CC as infinitely wide, but in practice not very different for one week. Theoretically I’ll be better off if SP runs up to $500 next week.
A better way to actually do this would be to go something like 180/210, rather than 185/250.
Anyway, now that the SP came down quite a bit and looks like tomorrow might be a down day given all the big tech ERs are misses, may be I can get away with a better roll strike.
With the crappy earnings reports, you would think that TSLA would rise as it clearly stands-out as the best growth stock of the lot, by a wide margin. But no, it gets dragged down too. I never understood this mentality
Also AAPL miss is due to C19 related production issues, a one-off, not a reason to hammer the stock, they still printed money like crazy
When we were trading in the 190's, I nearly closed-out this week's -p180's, but then decided the risk was very low and let them be... however now I'm thinking to let them assign as they'll then cover my ITM -c180's, of they assign, we'll see - lots of call-walls 180 and above, in fact there's one at 175, so those that do this kind of thing might want a close 173ish tomorrow, if they can
Also AAPL miss is due to C19 related production issues, a one-off, not a reason to hammer the stock, they still printed money like crazy
When we were trading in the 190's, I nearly closed-out this week's -p180's, but then decided the risk was very low and let them be... however now I'm thinking to let them assign as they'll then cover my ITM -c180's, of they assign, we'll see - lots of call-walls 180 and above, in fact there's one at 175, so those that do this kind of thing might want a close 173ish tomorrow, if they can
If you take out Ford Financials profits, Ford lost $4.3 Billion dollars making and selling vehicles. Just wow. But TSLAQ will say that Ford sells more vehicles than Tesla, so TSLA should have a lower PE.... Morons.
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