Looks like the $700 call wall has remained since Friday. Hasn't shrunk at all...weird. I'm discounting it, but amazing that someone(s) are riding it out.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Closed my 10/08 700/600 BPS for $0.71 / 90% profit after open.
Looking at the 10/15 BPS as we head down - trying to time the MMD, then probably settle for something like 680/580 as I need to have next week be self-manageable. Will set GTC close order at 75%.
Looking at the 10/15 BPS as we head down - trying to time the MMD, then probably settle for something like 680/580 as I need to have next week be self-manageable. Will set GTC close order at 75%.
0 time value, delta of 0.98. If expecting tonight to be positive, they seem good too hold on to.
Could also be low side of a bull spread.
corduroy
Active Member
Looks like IV and put premiums are dropping. Great for current open BPSs, not so much for starting new ones. Unless a big move happens today, I'm going to keep holding until expiration tomorrow. I don't feel like adding more risk for a few pennies.
I rolled up my 750/700 BPS to 770/720 yesterday.. it is now at 2.47 with a theta of 2.0.. not much dropping, yet....
But with that theta i can close it for 0.5 tomorrow for 90% gain.
i would roll the BPS up 20$ on each leg to gain more theta-exposure.
Or close & open new ones for next week (although i find it tricky with shareholder-meeting & berlin country-fair coming up)
TheTalkingMule
Distributed Energy Enthusiast
Not much difference between Tuesday and tomorrow. Why not wait for a pop from tonight's meeting? It certainly feels like we're being held down all week by MM's and a bit of volume Friday could give us a nice spike to test $820. We're certainly overdue for a +2% close one of these days.
AquaY
Member
STO BCS 10/8 -810/+825 @ $1
STO BCS 10/8 -805/+830 @ $1.69
I do not wish to hold these past today.
Also STO BPS 10/15 +585/-$6.95 @ avg of $4.25
and BPS 10/15 +640/-750 @$9.30
TheTalkingMule
Distributed Energy Enthusiast
Curious on the logic of closing BPS and leaving 10% on the table when strikes are well out of the picture for a Friday close. Wouldn't you just let them run out and take 100% of the premium?
Agreement reached on extending debt ceiling through December.
Generally because you think opening a new position will have better returns, like maybe if you think there will be IV crush post shareholder meeting just as an example. Also one thing I noticed in some backtesting I did was that generally holding to expiration was less rewarding than closing earlier.
...no one's ever got bkrupt from taking profits, right? Fact is, I had set a GTC for 90% yesterday, as I wasn't going to be at my desk at open. Order exercised on open, 8 seconds in. C'est la vie.
Now, C'mon MMD..... need to set my 10/15 BPS and get outta here.
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Closed my this weeks BPS with 96% of profit. Looking to open next weeks. Is it just me or are the Put premiums lacking compared to previous weeks?
Can't use the same margin to open positions for next week until you release it by closing the positions for this week... If there's a pop after the meeting tonight then you'd need to sell higher BPS strikes on Friday to reach the same premium... seems risky to sell higher-strike BPS after a pop when it might go away again given time to digest. (Or might not, but it's a risk.) So far I'm meeting my goals selling today, so why take chances on tomorrow?
Risk reward for that particular trade doesn't make sense anymore.
T Yields could go to 1.7 in a violent move and drop us to 600 no matter what catalyst is coming.
I also have a limit on free margin and max TSLA positions open at all times. Have to close some to open up a new ones out of strict discipline.
Like 2 Sith lords max. A master and an apprentice!
Did the same - also opened some BPS for next week at the 600-700 range, but agreed that premiums seem lower than last week by a significant amount.
bkp_duke
Well-Known Member
Usually do this when there is a much better position for the next week you want to get into. In this thread at least, it's been common to close on Thurs/Fri and open a new position for the following week, as long as you have some good indicators on where the SP is going. Make much more by getting into that new position than you leave on the table with the old position.
ChefBoyardee
Member
I'm liking this strategy of starting further OTM and moving closer to ATM mid week. Already made 30k this week with 10k more to go by doing that 
Rolled my 730/710's to next week at 730/680 since the peak theta decay for spreads is between 670 and 710. I figure placing them a bit higher than the theta peak will let the peak move through my position over a few days and I can move the strikes up once it's passed.
Leaving the 750/740's to close tomorrow since they still have value left
(Screenshot is next weeks 20 wide put spreads)
Rolled my 730/710's to next week at 730/680 since the peak theta decay for spreads is between 670 and 710. I figure placing them a bit higher than the theta peak will let the peak move through my position over a few days and I can move the strikes up once it's passed.
Leaving the 750/740's to close tomorrow since they still have value left
(Screenshot is next weeks 20 wide put spreads)
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