I have other call options that I am long.
edit: and because of this I will never get a margin call.
Last edited:
-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
Social Chat - Short Term TSLA Movements
- Thread starter Jonathan Hewitt
- Start date
-
- Tags
- TSLA
I have other call options that I am long.
edit: and because of this I will never get a margin call.
But those other call options would have to be at a strike price of same or lower than the one u r selling right?
exactly correct, and they would have to be at a expiration date further out (which is implied since I am selling the weekly)
Just made my first profitable options trade - sold today's 180 for $3.15 for a 100% profit (bought them on Wednesday). Looks like TSLA's price keeps creeping up, so I might regret selling it, but anyway, sold for a profit
And now you are officially addicted. Good luck in the future and know that weeklies are very risky and you will usually lose money buying them.
It is addictive, indeed
That was just a lottery ticket in hopes of getting the NHTSA announcement this week - it didn't happen, but luckily I still got away with it. Was totally expecting to lose it all without the announcement.
Sorry, I misread your strategy. I have not sold any calls to open a strategy. However, I have bought and sold the same strike price option 2-3x in one day to take advantage of some swings in price. I am still new to options so I have not tried more advanced strategies. Still hold 90% of my TSLA positions in mostly stock and some LEAPS.
edit: I have been tempted to look at ways of profiting from the volatility in DDD, TWTR and LNKD. Still not confident enough to pull the trigger on those.
Last edited:
Looks like my options strategy is about to backfire on me if TSLA goes up another $1 and stays there. That's why I only sell calls that are "covered", because my long positions are actually doing a lot better than my short is losing. Even though I sell these options, my portfolio will do best if they finish ITM.
It limits upside somewhat, but more often than not they will expire worthless.
It limits upside somewhat, but more often than not they will expire worthless.
mershaw2001
I'm short the short sellers
yeah I've been doing this for the past few months. I think that technically i'm selling the options uncovered, but to hedge against a move that would mess me over (like the 5 bagger you speak of) I keep several hundred shares of tesla covered with 200 to 220 strike april may and june options. I guess essentially it's the equivalent of some sort of butterfly or condor or something, frankly i don't care what the name is, I'm hedged against large movements by the shares and i try to make extra money by selling calls short. I never sell puts short anymore because then my risk is compounded if the stock moves down. That messed me over when the first fire came along. I think that day the stock went from 194 to 184 and I sold weekly puts short (for the first time in my life) and bam- it ended at 171.
When i sell options short, i try to go for ones that are about 1 dollar, and time it for after tesla makes a run up (i wouldn't qualify today's run up as one unless it hits 187) and then I sell 2-3 at a time, never more than 2x the number of shares I have (so never more than like 10 or 12 contracts short)
For instance this might be the setup i'm going for, hypothetically:
+600 shares
-6 june 220's calls
-12 feb 7 weekly 195's.
Oh yeah, and i almost always have a margin call, for the past 4 years. It used to be to load up on stock, but now I use a 50,000 dollar margin call to pay for the requirement on the short options, and since I have 5 days to settle the call, i only sell short the options that expire in a 7-10 day window and close the position out after 3-5 days, before the margin call is due.
Last edited:
InTheShadows
Active Member
Nice close for the week. I'm pleased, I had losses on weeklies this week but with the gain today I managed to salvage some of them. I sold my 180's too early but I didn't want to risk it. They could have been winners for me but I have seen the day trail off too many times before to risk it.
Looking back, Wednesday I should have been thinking about next weeks weeklies too. I was only thinking about this weeks and LEAPS.
I created a nice delayed bull call spread on csiq today. Jan 15 17/40.
Looking back, Wednesday I should have been thinking about next weeks weeklies too. I was only thinking about this weeks and LEAPS.
I created a nice delayed bull call spread on csiq today. Jan 15 17/40.
I ended up covering my $185's at a small loss, but overall I am happy because my long TSLA positions more than made up for that loss at least 50-fold.
I like to sell weeklies just in case TSLA stays flat, goes down, or up only a little. This is a great way to generate income most of the time, and when they finish ITM it is a sign that my portfolio has done really well. Overall, it is a win-win situation.
I like to sell weeklies just in case TSLA stays flat, goes down, or up only a little. This is a great way to generate income most of the time, and when they finish ITM it is a sign that my portfolio has done really well. Overall, it is a win-win situation.
I'm joining the lottery again; bought 2 weeks (14th) 2 Calls 180 for 4,25 on Wednesday, sold 1 today for 8,50, will let the 2nd run. Also bought 4 week (28TH) 2 x 190 FOR 7,25, will sell the 1st one for 14,50. Already 11.9 after two days. I feel like a novice on this short time options, so I go for options at least one week+ ahead. I also hold a March call 150, bought for $49 some time a go, that I do not know where it is headed, as the time premium is going down. Thinking of rolling to 2 x 180. Any thoughts?
My balance is 1109 stocks and 11 call options DTM Jan 16, from 60 and up.
My balance is 1109 stocks and 11 call options DTM Jan 16, from 60 and up.
Norse
Active Member
How many Model S have you made now Wenche? I also believe you are the one of the only one here who have never sold a single share?
Good luck btw, I got some $190 for next week.
So you're selling OTM weeklies (since 185 was OTM at the time) and own another OTM call much farther out? Or are the strikes for the two relatively close or is the farther one deeper OTM?
The long call cannot have a higher strike price if you want to avoid maintenance margin.
Thanks for the tip Curt!! Set a GTC order on OptionsHouse for $400. My order for $1000000 was rejected for some reason?
Similar threads
