What ranges are you seeing for this rally and can you share how you are playing it?
Also are the 6/30 -C220’s still safe due to derisking leading into P&D or has the thesis changed?
Thanks.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Also are the 6/30 -C220’s still safe due to derisking leading into P&D or has the thesis changed?
Thanks.
This morning rolled all of my 06/23 - $250C's to 07/21 $250's (same strike)
Initially received $1.50 each and they were sitting at $2.75 prior to the roll- so down $1.25 each
Roll was $8.50 minus the $1.25 - so net for the roll was +$7.25
Also BTO some $210P's for $1.85 each - looking to hold these till tomorrow and see if we get a red day - if not totally ok with losing the money.
-I want to take some cash off the table at $250 so I want to keep grabbing premium for the $250 calls until they go ITM and then let them execute.
- I don't care if that means I am selling monthlies forever if I can keep getting good premiums for them at $250 or higher.
Going farther out makes the drop that much more if we do reverse for a quick close, to resell.
Initially received $1.50 each and they were sitting at $2.75 prior to the roll- so down $1.25 each
Roll was $8.50 minus the $1.25 - so net for the roll was +$7.25
Also BTO some $210P's for $1.85 each - looking to hold these till tomorrow and see if we get a red day - if not totally ok with losing the money.
-I want to take some cash off the table at $250 so I want to keep grabbing premium for the $250 calls until they go ITM and then let them execute.
- I don't care if that means I am selling monthlies forever if I can keep getting good premiums for them at $250 or higher.
Going farther out makes the drop that much more if we do reverse for a quick close, to resell.
I still think 210 will be relatively safe. I think we might see 230 before the pull back.
As for me I've been sitting on the -190C's left from last week. Been selling DITM puts since 198 using 30% of my margin.
Rolled 8 x -p175 for this Friday to 8 x -p195 for next week and received $1.25. Still keeping about 20-25 points between me and the SP. I'm preserving some dry powder with 10 x -p170 for this Friday which can also be rolled when I see an opportunity.
I've been following this strategy for many weeks now, netting between $2,500 and $4,500 per week. The timing has not always been great and today is no exception, but in most cases waiting for a significant drop would only have made me miss out on a lot of premium.
With the SP gradually moving up I've slowly had to reduce the number of puts, because I want to be fully cash covered and not use any margin. Every month or so I'm skimming off the premiums and putting them in a savings account. Compounding is not something I'm aiming for. I compounded enough between 2019 and 2021.
I've been following this strategy for many weeks now, netting between $2,500 and $4,500 per week. The timing has not always been great and today is no exception, but in most cases waiting for a significant drop would only have made me miss out on a lot of premium.
With the SP gradually moving up I've slowly had to reduce the number of puts, because I want to be fully cash covered and not use any margin. Every month or so I'm skimming off the premiums and putting them in a savings account. Compounding is not something I'm aiming for. I compounded enough between 2019 and 2021.
I thought a decent amount of the debt ceiling deal had been priced in last Thu/Fri, but apparently not. Should've stuck with my original plan to sell this morning instead of being tempted on Friday.
EDIT: Also, there's a lot of noise from some rank-and-file Republicans about voting against the debt ceiling deal. Could be in for some serious volatility if it fails a procedural vote in the House.
Ended up grateful that I rolled those initial 6/2 -c210s up to -c220 last week! As for this week, I'm in for 30x 6/9 -c245s at $0.69. The 10x -c150s I'd been rolling for the past month or so are just gone as of this upcoming Friday and the proceeds will become dry powder for put selling on pullbacks.
myt-e-s-l-a
Member
Sold 3x -p217.50 to close a -c202.50 at a small debit. Then doubled remaining contracts of -c202.50 to get to -c215 at a small debit.
Would really like the -c215s to expire to open up more contracts to double my way out of these other ITM calls.
Would really like the -c215s to expire to open up more contracts to double my way out of these other ITM calls.
john tanglewoo
2012 Roadster Owner
I have not made any moves in a couple months, but I have been itching. The July 250s for CCs look good. But option implied vol closed at a post-pandemic low on Friday i.e. we are not being appropriately compensated.
Is this stopping anyone? or business as usual?
Is this stopping anyone? or business as usual?
STO ICs: +205p/-215p/-240c/+250c
Tried to leg into them, but didn’t do all that well, then added some more BPSs as the SP broke 217. Damn, should have waited. Anyway, pretty much guaranteed that we close below $215 now. Sorry folks. Well, at least my -c220s are safe and rolling the -c190s will be easier.
Lots of interesting large options trades today. I don’t understand all of them and need to investigate calendar spreads. How about that July 7th 150/170/200 put triangle at 14:14?
Tried to leg into them, but didn’t do all that well, then added some more BPSs as the SP broke 217. Damn, should have waited. Anyway, pretty much guaranteed that we close below $215 now. Sorry folks. Well, at least my -c220s are safe and rolling the -c190s will be easier.
Lots of interesting large options trades today. I don’t understand all of them and need to investigate calendar spreads. How about that July 7th 150/170/200 put triangle at 14:14?
SebastienBonny
Member
Holding 220CC for this week gives me the opportunity to relax and see what the SP does (even if it goes above the strike price).
First time since the stock split I'm in this situation because I was able to average down.
Now I'm curious how you guys would handle this situation. My purpose isn't to let these shares being called away right now, but to get a good premium for next week. I'm guessing best option is to sit and wait (220 has highest open interest, but could change of course) to be able to close later this week and looking for a new position for next week.
Other options I'm seeing right now are: already roll to next week for same strike and netting 300 bucks, which is not bad at all or rolling to next week for more premium for a (slightly) higher strike.
Those two choices look appealing, but there's something holding me back, because waiting a bit longer could give me the chance getting even more premium. If we are beneath, but close to 220 on thursday or friday, doing the same will give better credit.
Conclusion: Am I getting a bit greedy here?
First time since the stock split I'm in this situation because I was able to average down.
Now I'm curious how you guys would handle this situation. My purpose isn't to let these shares being called away right now, but to get a good premium for next week. I'm guessing best option is to sit and wait (220 has highest open interest, but could change of course) to be able to close later this week and looking for a new position for next week.
Other options I'm seeing right now are: already roll to next week for same strike and netting 300 bucks, which is not bad at all or rolling to next week for more premium for a (slightly) higher strike.
Those two choices look appealing, but there's something holding me back, because waiting a bit longer could give me the chance getting even more premium. If we are beneath, but close to 220 on thursday or friday, doing the same will give better credit.
Conclusion: Am I getting a bit greedy here?
Doesn't look like I will get a breather... lots of OI increased above/below and at 220/217.5. I'll give up the chase and take a loss on the -210/+220 BCS; a roll to next week would just compound the problem if price doesn't let up. I may be able to cut the loss in half with a +P192.5/-P202.5/-C232.5/+C242.5 IC. Unlikely we hit those extremes 4DTE.
Opened a Diagonal Put spread -
STO 06/09 $210P's for $2.75 each
BTO 06/16 $205's for $3.50 each
Net Debit $0.75 each - Betting that the Quad and CPI next week gives me a high probability of profit on these.
First time doing one of these and seeing the dynamics. Tried a Calendar Call Spread a couple of weeks ago and did not like that very much but used to really enjoy BPS' before last year, so this seems like an interesting opportunity.
Will report back. So far my July $250C's are at 30% profit from yesterday. Will look to close those next week if this Diagonal Put Spread pays off as well.
I do think we go up after next week and will look to buy some lottery tickets with profits if we get to $200.
STO 06/09 $210P's for $2.75 each
BTO 06/16 $205's for $3.50 each
Net Debit $0.75 each - Betting that the Quad and CPI next week gives me a high probability of profit on these.
First time doing one of these and seeing the dynamics. Tried a Calendar Call Spread a couple of weeks ago and did not like that very much but used to really enjoy BPS' before last year, so this seems like an interesting opportunity.
Will report back. So far my July $250C's are at 30% profit from yesterday. Will look to close those next week if this Diagonal Put Spread pays off as well.
I do think we go up after next week and will look to buy some lottery tickets with profits if we get to $200.
Yes Sir - at least it says so on their calendar.
That's why I think there is a great opportunity for bought Puts and to sell ATM Calls for next week.
Just haven't opened the call side yet, looking for a good pop - should have yesterday...
And Quad-Witching too
Should be a good time/excuse to revisit the 200-day ma or that area.
STO - 06/16 $230C's for $4.50 each on the rebound to 221 recently.
Now I'm all set for next week (on a Tuesday) yay for the theta burn.... if I can be patient. The $210 P's I sold earlier are already at 70% and I might close those soon just because...
I have a bunch of 230, 235, 245, & 250 CCs for this week. I may not move up the strike for next week. This run up should soon be taking a pause no?
I still have some CCs < 200 I need to babysit for few weeks as it seems.
I still have some CCs < 200 I need to babysit for few weeks as it seems.
Is there something going on in the last 5 mins and after hours?
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