Wiki Selling TSLA Options - Be the House

[jeewee3000]

Do you mind sharing your broker? I'm currently with Interactive Brokers through Lynx as their "introducing broker". I haven't found a way to roll like that for TSLA either, wondering if someone here has more experience with the IB TWS?

Binck Bank, recently taken over by Saxo Bank. My broker's software is being updated soon so I don't know how the new software will work, but currently I have a "roll" function on options, but not OPRA options apparently (Options Price Reporting Authority = US-options).

Where can you trade options on european exchanges? Do you mean warrants? I looked and never came across options on any european exchange..

Two Belgian companies I follow have options available (Proximus (BLG - Euronext Brussels) and Solvay (SOL - Euronext Brussels)), this besides warrants, turbos sprinters and other derivatives. Not all companies have options available of course. (Same in the US) I know too little about options to know what determines if options are available.

The Euronext "stock and derivatives" pricing subscription available to me offers real time pricing/volume/trade data on said options.

EDIT: see pic for BLG options. I don't pay for EURONEXT options data so I don't see pricing and it's 15 min slowed.

 

[Drezil]

In America , in the State of Pennsylvania there was a tax of 10% passed on alcoholic beverages for the express purpose of rebuilding from the damage caused by the Johnstown Flood..
The flood occurred in 1889.
The tax is not only still there it was increased in 1965 and again years later to 18% today.

Governments love taxes. Once they got them they defend them like a starving dog with a bone.
Administrations change. Taxes seem to be forever.

In Germany we still have the "Schaumweinsteuer". A tax on sparkling wine.
Passed by Bismark in the first World War. For the rebuilding of the Kriegsmariene (Navy).

I mean .. it is not like we had things like Weimar Republic, Third Reich, 2nd World War, Cold war, Reunification etc. in the meantime.. It is not even the same entity anymore -.-

One should think that we have the best navy in the world by now.. nope. Not even our sail-ship is operable: German training ship Gorch Fock (1958) - Wikipedia

 

[FS_FRA]

Yes indeed. What to do with the cc730s for this week. Quite a conundrum, especially as I don't really want to have them called away. I know that is the risk with cc's. Any not-advice ideas? Currently I'm planning to sit tight. If there is a drop into the low 720's, I'll probably BTC.

Quite keen to setup something for the long weekend, and 800s for next week too.

 

[bkp_duke]

I have that 680/710 750/780 Iron Condor sold 2 days ago that expires tomorrow.

What are people's "not advice" on extracting a little extra premium from that? I was considering tightening it up, possibly to a 700/715 745/760. Not worth the risk? Worth the risk? It really looks like the big boys want to peg this around 730-735 this week.

 

[dc_h]

Thinking about trades for next week. I like to close up around an hour or two before close on Friday, but that wastes a lot of free money when theta fades fastest. I usually spread my trades out, this week was smaller bets closer to ITM 735 this week, then 2x that at 750, 760 and 770. I'm thinking of doing half my trades on Friday and the rest on Tuesday morning. I'll do my BPS on Friday if possible as well. China sales numbers are likely to be good, but easily manipulated and misreported, due to the shift to exports. Likely to create a short sell off, followed by traders picking up shares on sale.
Anyhow, assuming we close in the 730-735 gap, which seems to be the best the mm's could hold us down to, I'm thinking 2 750cc's for my it's ok if they get called trade, and then 775 and 790. If we don't shoot up, I'll roll them down closer to 750 on Wed' and Thursday. BPS pricing is way low, but I like the idea of the wider spread over my earlier 10 point spread. Makes it easier to sell closer to ITM with much lower risk of not being able to roll out. A 710-660BPS seems like it will have a good return.
Interesting note about price bump on Thursday close and dump on Friday before the weekend. More to timing than time value.

 

[Yoona]

Yes indeed. What to do with the cc730s for this week. Quite a conundrum, especially as I don't really want to have them called away. I know that is the risk with cc's. Any not-advice ideas? Currently I'm planning to sit tight. If there is a drop into the low 720's, I'll probably BTC.

Quite keen to setup something for the long weekend, and 800s for next week too.

so far, sp seems to be trending 730-740

 

[Yoona]

I have that 680/710 750/780 Iron Condor sold 2 days ago that expires tomorrow.

What are people's "not advice" on extracting a little extra premium from that? I was considering tightening it up, possibly to a 700/715 745/760. Not worth the risk? Worth the risk? It really looks like the big boys want to peg this around 730-735 this week.

i have opposite view

my IC is 690/710/740/760; too close for comfort, i wish it's on 750!

 

[ammulder]

Yes indeed. What to do with the cc730s for this week. Quite a conundrum, especially as I don't really want to have them called away. I know that is the risk with cc's. Any not-advice ideas? Currently I'm planning to sit tight. If there is a drop into the low 720's, I'll probably BTC.

Quite keen to setup something for the long weekend, and 800s for next week too.

It would be possible to roll forward two weeks (or one week x2) in hopes of being rescued by the triple-witching.

I'm still keeping an eye out for a dip between now and Friday close. Might lose my nerve, though.

 

[dl003]

It would be possible to roll forward two weeks (or one week x2) in hopes of being rescued by the triple-witching.

I'm still keeping an eye out for a dip between now and Friday close. Might lose my nerve, though.

When push comes to shove, I find it beneficial to ask myself "if I wasn't stuck with this ITM cc, would I have sold that cc that I'm trying to roll out to?"

There will come times when I have to admit that I was wrong and trying to prolong a losing bet is not a good idea. Maybe it's worth it to pay extra to roll it out to a strike that makes sense instead of one that's breaking it even.

Just some thoughts. Not an advice.

 

[AquaY]

Yes indeed. What to do with the cc730s for this week. Quite a conundrum, especially as I don't really want to have them called away. I know that is the risk with cc's. Any not-advice ideas? Currently I'm planning to sit tight. If there is a drop into the low 720's, I'll probably BTC.

Quite keen to setup something for the long weekend, and 800s for next week too.

When push comes to shove, I find it beneficial to ask myself "if I wasn't stuck with this ITM cc, would I have sold this cc that I'm trying to roll out to?"

There will come times when I have to admit that I was wrong and trying to prolong a losing bet is not a good idea. Maybe it's worth it to pay extra to roll it out to a strike that makes sense instead of one that's breaking it even.

Just some thoughts. Not an advice.

while I agree with you @dl003 that you need to consider the roll as a stand alone trade and cut your loses from time to time a lot of what you do depends on how you can roll I think.
If i were in @FS_FRA position and bullish for next week I'd consider rolling tomorrow.
As of now I'd personally roll out to 9/10 740s for a small credit. Like $1.40
I'd write whatever stand alone trades I wanted to if I had the capital or margin but for me rolling out 10 points higher strike for next week gives me at the very least an opportunity to get paid $1+ to get called away 10 points higher than now.

I'm interested in others thoughts on this.
A lot depends on your short term outlook of course

 

[FS_FRA]

When push comes to shove, I find it beneficial to ask myself "if I wasn't stuck with this ITM cc, would I have sold that cc that I'm trying to roll out to?"

There will come times when I have to admit that I was wrong and trying to prolong a losing bet is not a good idea. Maybe it's worth it to pay extra to roll it out to a strike that makes sense instead of one that's breaking it even.

Just some thoughts. Not an advice.

Yeah, I'm considering that too. I'm watching closely if the pre-long weekend buying on Thursday and dump on Friday materializes. I might be waiting for the impossible. But if push comes to shove, rather cut losses, live to fight another day....

 

[dl003]

while I agree with you @dl003 that you need to consider the roll as a stand alone trade and cut your loses from time to time a lot of what you do depends on how you can roll I think.
If i were in @FS_FRA position and bullish for next week I'd consider rolling tomorrow.
As of now I'd personally roll out to 9/10 740s for a small credit. Like $1.40
I'd write whatever stand alone trades I wanted to if I had the capital or margin but for me rolling out 10 points higher strike for next week gives me at the very least an opportunity to get paid $1+ to get called away 10 points higher than now.

I'm interested in others thoughts on this.
A lot depends on your short term outlook of course

Would like to add that, for me at least, what "makes sense" is heavily influenced by your current state of mind. When you're stuck with an ITM cc, a lot of things seem to make sense that normally would not. That's why it's beneficial to see what others think and do in this thread.

 

[tradenewbie]

I am planning to roll my 735cc (this week) to 750cc (next week) if 735cc is ITM tomorrow before close. Does it make sense to sell a 750cc (next week) NAKED CALL today (to get a higher premium) and then close the 735cc tomorrow if I think the SP will drop tomorrow?

 

[stealthyc]

I am planning to roll my 635cc (this week) to 650cc (next week) if 635cc is ITM tomorrow before close. Does it make sense to sell a 650cc (next week) naked call today (to get a higher premium) and then close the 635cc tomorrow if I think the SP will drop tomorrow?

I hope you mean 735, 750 etc.

 

[tradenewbie]

I hope you mean 735, 750 etc.

Yes, haha.

 

[AquaY]

I am planning to roll my 735cc (this week) to 750cc (next week) if 735cc is ITM tomorrow before close. Does it make sense to sell a 750cc (next week) naked call today (to get a higher premium) and then close the 735cc tomorrow if I think the SP will drop tomorrow?

I hope you mean 735, 750 etc.

Yes, haha.

well, since @stealthyc already saved you 100 points .....

You are talking about too very different animals in your question. writing a CC for 750 next week instead of rolling and writing a naked 750 call are not the same thing.
Which do you mean?

 

[tradenewbie]

well, since @stealthyc already saved you 100 points .....

You are talking about too very different animals in your question. writing a CC for 750 next week instead of rolling and writing a naked 750 call are not the same thing.
Which do you mean?

Sorry for confusion.

I mean:
STO 750cc today (for next week) - which is a naked call now since I don't own any extra shares to sell cc at the moment
BTC 735cc - close this tomorrow instead of roll it now since I am guessing SP would drop tomorrow and I can close it cheaper (or even let it expire if SP <735)

By doing this, 750cc would no longer be a naked call tomorrow.

 

[Yoona]

3rd time in 3 days (tue-wed-thu) there was failed passing through the 740 resistance

 

[juanmedina]

How is everyone feeling about 750s for tomorrow? I am at 60% profit at the moment and wondering about closing them.

 

[jeewee3000]

How is everyone feeling about 750s for tomorrow? I am at 60% profit at the moment and wondering about closing them.

Not advice, but I'm holding my 750cc's AND 740cc's.


Today's price action encourages me to do so, given the obvious capping at $740. How odd. * sips tea *