This morning:
STO 5x -C185 6/21 @5.40
STO 10x -C185 7/19 @8.50
STO 5x -C200 7/19 @5.10
Thesis: TSLA will struggle $155-$180 for a while. If wrong I’ll roll up and out.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
This morning:
STO 5x -C185 6/21 @5.40
STO 10x -C185 7/19 @8.50
STO 5x -C200 7/19 @5.10
Thesis: TSLA will struggle $155-$180 for a while. If wrong I’ll roll up and out.
Thanks.
Maybe $170-177 max?
Let us know if you sell calls/longs into it
I’d hate to be holding longs / not hedged through another drawdown.
if tomorrow we pop, just buy some puts or sell NTM calls. Cut loss if the first hourly candle is green. If you want to be sure, wait to see if the 1st hourly candle is red after a morning pop, then enter.
I am up on my Covered Call sales. Down big on my NVDA Iron Condor from last month, and my TSLA BPSs from two years ago.
In other words - CC sales good, Spreads VERY BAD!!!
Now to mid May is most likely going to be highest volatility,, even more than today or recent.
ChiefRollo
Member
Hourly MACD has been red (begun narrowing) since the final third of yesterday; perhaps local peak has been reached or is near.
SebastienBonny
Member
Checked premiums today and it seems calls pay better than puts right now.
Before earnings it was about the same if I remember right.
Did a covered call monday for strike of 130 and expiring 4/26. Now what should i do? Looks like i got into a jam. Any ideas as to how to recover from this fiasco??
I proceeded with a straight roll of 155/185 call spreads expiring tomorrow. Out 1 week and because the spread was <1/2 ITM I was able to keep the strike while also adding a $1 credit.
I think they have a decent chance of being OTM by expiration tomorrow, and I still prefer these spreads being call spreads over put spreads (bias down over up in the share price). However just because I think down from here doesn't mean we can't be up tomorrow, next week, or even longer. If tomorrow were very much of an up day then a good roll today would turn into a bad roll tomorrow. I've only rolled 1 week though, so I'm looking for flat to down from here over the next week.
These spreads have been evolving for months now and have spent part of their life (when they were put spreads) being completely ITM. Being $10 ITM is a huge improvement. I have other spreads previously rolled out to the May monthly expiration.
I closed the -140p/110p put spread I had paired up with these yesterday. The value was down to .10 - there was too little money remaining to earn in the position to risk today being a down day and these going ITM. I'll be looking for an entry on a put spread to pair up with this call spread and earn a few bits to help pay down the loss still represented in the overall position.
This is the lens that I see my trading through. I try to maintain a short and medium term view of trend (short <3 months; medium is within the option chain, so <2 years), and a long term buy and hold thesis (or sell and evacuate
). Inside of that though, without being too fixated on keeping positions open in both directions, I'm looking to make money whether the shares are up or down, and whether they are moving up or down.
I'm more down than up from here, but still looking for opportunities on both sides.
I think they have a decent chance of being OTM by expiration tomorrow, and I still prefer these spreads being call spreads over put spreads (bias down over up in the share price). However just because I think down from here doesn't mean we can't be up tomorrow, next week, or even longer. If tomorrow were very much of an up day then a good roll today would turn into a bad roll tomorrow. I've only rolled 1 week though, so I'm looking for flat to down from here over the next week.
These spreads have been evolving for months now and have spent part of their life (when they were put spreads) being completely ITM. Being $10 ITM is a huge improvement. I have other spreads previously rolled out to the May monthly expiration.
I closed the -140p/110p put spread I had paired up with these yesterday. The value was down to .10 - there was too little money remaining to earn in the position to risk today being a down day and these going ITM. I'll be looking for an entry on a put spread to pair up with this call spread and earn a few bits to help pay down the loss still represented in the overall position.
This is the lens that I see my trading through. I try to maintain a short and medium term view of trend (short <3 months; medium is within the option chain, so <2 years), and a long term buy and hold thesis (or sell and evacuate
). Inside of that though, without being too fixated on keeping positions open in both directions, I'm looking to make money whether the shares are up or down, and whether they are moving up or down. I'm more down than up from here, but still looking for opportunities on both sides.
@Max Plaid and anyone else, I know Cat and suggested he join us here so he can get some urgent not-advice. He has a ton of -C130 4/26 @18.00. CB is $250. He was expecting TSLA to stay in the $130-$140’s or tank further on earnings.
I suggested to roll up and out but I’m no expert, can you take a look and recommend a fix?
Personally I would buy to cover tomorrow. My thesis is that our floor for now is about $160; some suggest the floor might be a little lower, but only ~$5.
I don't usually roll options, especially when you entered a trade with a thesis that has been proven incorrect. Selling for CCs $185-190 should preserve your shares better and gain you some premium; ladder them out in time and strike though. It is a game of inches not one big score.
You could try a roll to 6/21
Btc 4/26 -$130c $34.5
Sto 6/21 -$130p $1.72
Sto 6/21 -$136.67c $31.4
Sto 6/21 -$210c $1.5
$0.12 credit
Problem is this is too ditm
ChiefRollo
Member
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