corduroy
Active Member
STO BPSs 10/1 700/600 $4.50
Edit, went back and loaded more. Over my weekly $ goal by 9:15am Monday!
Edit, went back and loaded more. Over my weekly $ goal by 9:15am Monday!
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
jeewee3000
Active Member
Loving the price action: not going anywhere. (except volume is decent, could still zoom up) After enough theta decay I'll close my 800ccs for this friday.
AquaY
Member
STO BPS 10/1 ++600/-720 $5.65 credit
I'm not a big TA guy (people drawing random lines all over cracks me up). However, the Bollinger Bands are very useful. As I posted in the in the main thread, we are at the upper BB, so I'm guessing we trade fairly flat the next couple days, before climbing end of week (when BB has had more time to move up). I give 800+ on Friday >50/50 chance.
My sold put prices are up 15% even though the stock price is also up. Is this IV increasing? Or just the puts aren't yet following the gyrations of the stock price?
IV minimum for friday lies currently at 800SP (~40 or so).
IV at 750 is 58 & rising very fast if we go lower due to the amount of puts. >100 if we drop to 650
Adding to the put wall: STO BPSs 10/1 700/600 $4.45
it, seems 780 was resistance; my -c800 are safe for now
The option flow is very bullish again. I can post some screenshots if anybody wants them but repeated call buying from 780 to 825 for Oct 1 expiry. The put to call ratio is 0.191 compared to a put call ratio of 0.251 last Friday.
I am tapped out, 805cc's and 820lcc's some 830/860/695/665 IC's and 695/665 BPS.
Welp. Chase screwed me again. It might be time that I look at another broker.
So, if you recall, on Friday I had my 770 executed. Normally I only keep a few grand cash in the account every week to buy back covered calls if they go way against me.
This morning I sold a put at 750 for about a grand. I then went to close out my 800 and 830 covered calls and it's not letting me due to a cash trade violation because the 770 cash hasn't settled yet. I transferred another grand in from savings but that gets gobbled up by the $75k hold for the put. All I can do is sit on my hands for a couple days waiting for things to settle.
I called and asked about getting a minimal amount of margin just to cover pending items. I was told that there's no margin available on a self directed account only a managed account where I need to have a broker who does most of the work. Obviously, that's the last thing I want.
So, now that 800 I could have bought back for $4 is $7 and climbing. Might end up having to roll out, we'll see.
I do have an account with TD that I was doing day trading with last year but my long shares have always been with Chase. What I liked about Chase is that it was nice and simple and limited so I wouldn't ever accidentally open up a iron fisted butterfly bear wolf and suddenly lose all my shares and be negative 9 figures. lol
Is transferring shares, to keep the cost basis, a pain? Suggestions on another broker? Should I just not worry about it and in the future buy to close the calls before selling the put?
My intention moving forward it just to sell 4 shitcalls and 1 aggressive call to put through the wheel on the rare occasion it gets hit.
Thank you all!
Good luck this week.
-Gene
So, if you recall, on Friday I had my 770 executed. Normally I only keep a few grand cash in the account every week to buy back covered calls if they go way against me.
This morning I sold a put at 750 for about a grand. I then went to close out my 800 and 830 covered calls and it's not letting me due to a cash trade violation because the 770 cash hasn't settled yet. I transferred another grand in from savings but that gets gobbled up by the $75k hold for the put. All I can do is sit on my hands for a couple days waiting for things to settle.
I called and asked about getting a minimal amount of margin just to cover pending items. I was told that there's no margin available on a self directed account only a managed account where I need to have a broker who does most of the work. Obviously, that's the last thing I want.
So, now that 800 I could have bought back for $4 is $7 and climbing. Might end up having to roll out, we'll see.
I do have an account with TD that I was doing day trading with last year but my long shares have always been with Chase. What I liked about Chase is that it was nice and simple and limited so I wouldn't ever accidentally open up a iron fisted butterfly bear wolf and suddenly lose all my shares and be negative 9 figures. lol
Is transferring shares, to keep the cost basis, a pain? Suggestions on another broker? Should I just not worry about it and in the future buy to close the calls before selling the put?
My intention moving forward it just to sell 4 shitcalls and 1 aggressive call to put through the wheel on the rare occasion it gets hit.
Thank you all!
Good luck this week.
-Gene
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It is easy - once you open the new brokerage just let them know and they do a "transfer in kind" which doesn't impact anything.
Yeah, well, my roll to c770 isn't looking so bright either...
I would suggest transferring to TD. Then you've got everything in one place and TD is a quality broker. Transferring shares is not hard.
I sold some puts @695 this morning, they are up nicely already. Not touching CC for a while.
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