Knightshade
Well-Known Member
yeah my -298.33 puts are showing like 40 cents of extrinsic now, probably gonna be a roll day but hoping it recovers at least a bit by this afternoon for a better roll
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
In for some calls right now, 290 strike, 10/21 expiry, expecting macro capitulation and TSLA anticipation into earnings takes us up and to the right from 10/2 until earnings week of 10/17-21.
Closed mine for 80% profit (-1 -> -0.2), but also too early
Closed the first two at midday today at 30-day lows, and SP $272. The $325 is a buy-write at cost that I’ll hold for awhile. Looking to resell after the dust settles on the P/D.
Only remaining covered calls are 111822-c$360 (another buy-write at cost).
Yesterday on a small SP rise, rolled my 9/30 -c/p310s to 10/7 -c/p305s for overall credit. Today I closed the CCs, also too early. Used some cash buying shares down to $269.69 and (stupidly) a +c270 for Friday. Oh well, I’m always jumping in too early. I still hold 10/21 -c/p300s in one account, but less than $100 cash (ooops), so unless something really crazy happens, I’m doubling my share count soon. Really really appreciate these buying opportunities, but it’s getting a bit tiresome at times.
Edit: Are we really testing $265.42, 50% Retracement From 13 Week High/Low? It certainly looks like the geopolitical situation has deteriorated. If Russia annexes the Donbas, the use of nuclear weapons looks more and more likely. Damn, a nuclear winter is really not something that the world should consider as the solution to global warming. Nothing I can do but harvest/can another 15 liters of green beans. Better be prepared for more pain.
Edit: Are we really testing $265.42, 50% Retracement From 13 Week High/Low? It certainly looks like the geopolitical situation has deteriorated. If Russia annexes the Donbas, the use of nuclear weapons looks more and more likely. Damn, a nuclear winter is really not something that the world should consider as the solution to global warming. Nothing I can do but harvest/can another 15 liters of green beans. Better be prepared for more pain.
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TheTalkingMule
Distributed Energy Enthusiast
Nov18 $400c is $.96
Nov04 $350c is $2.15
Jan20 BSP $250/$220 are getting $10.50 premium right now.
4 months to make more than 1/3 on your margin.
Amazing.
Nov04 $350c is $2.15
Jan20 BSP $250/$220 are getting $10.50 premium right now.
4 months to make more than 1/3 on your margin.
Amazing.
TheTalkingMule
Distributed Energy Enthusiast
Is it a coincidence that TSLA and APPL are the two big names being targeted here? And that they happen to be a primary destination for retail dollars and options trades? Smells to me like this is MM's harvesting a few shares from retail and crushing retail options holders before what everybody knows will be blowout earnings.
Would be a strong coincidence indeed that today (of all days) the institutional investment world has decided that the geopolitical landscape has tipped into "deteriorated". The options rolling day before Tesla P&D confirms the range of earnings for 3Q22......shocking!
What a week it will be next week as the MMs fight off bullishness and try to expire all these $330, $350 and now maybe even $300 calls.
All of the sudden seems quite doable, right? What a coincidence!
I'm starting to think that Q3 p&d numbers will be a non-event.. regardless of numbers.
Well I sold a lot of Dec16 -p230/2x +p190 put ratio spreads for $2/contract. Why ratio spread? With IB's risk based margin selling these actually freed some margin instead of reserving it
Well I sold a lot of Dec16 -p230/2x +p190 put ratio spreads for $2/contract. Why ratio spread? With IB's risk based margin selling these actually freed some margin instead of reserving it
B-W this morning when price was 273, Oct 7 -c285 for 6.3 , bought back the call at 267 for 4.5 ... kept shares at an effective cost of 271.2 ... figured may as well capture something in this wild swing to the 260s. Not really, it will help subsidize the debit roll of a +285/-260 spread to next week and a -305csp as well.
corduroy
Active Member
I rolled my -270 puts to next week -255s. for $1. I don't like the looks of this action, so I don't want to be assigned on these. I thought I might try a B-W at $270 but not anymore.
I hesitate to post as I'm still a total options newbie and I still have some BPS in the money That I've been kicking down the road since January.
Anyway today I sold a Jan '25 $300 strike Put for $98.54 and an Oct 21 $220 strike Put for $3.72. I did this because I need to raise some cash in the near term and I figured that if I'm assigned I would be happy to buy at these strikes.
Anyway today I sold a Jan '25 $300 strike Put for $98.54 and an Oct 21 $220 strike Put for $3.72. I did this because I need to raise some cash in the near term and I figured that if I'm assigned I would be happy to buy at these strikes.
Picked up a bunch of 10/21 C330s for an average of $1.89 today, currently trading at $1.82. I did the same a few days ago but, luckily, sold them on the pop yesterday. Between AID2, PD, and Earnings, I'm sure there will be pops to unload these at a profit. Hopefully the pop isn't from 200! I was waiting for $263.XX to purchase but not sure we're getting there today.
with the success of this test, today i started a "leg-in write"
bought shares at 270 (i missed the 268 bottom), waiting for sp to rise before deciding whether to sell shares or open BW
Proven Buy Write Covered Call Strategies
There are many variants of the buy-write covered call strategy. The simplest is to select the trade, buy the stock and write ATM calls; and it works. But
financhill.com
"Leg-In Writes (OTM)
This strategy is a variant of the OTM write, but even more bullish in outlook. Assuming the stock in fact will rise as anticipated, it is far more profitable to buy the stock only and wait until it has risen before writing the calls. This is known as legging in, because the stock leg of the covered call is put on first. The calls may be written days or weeks later, depending on the stock’s movement and the amount of return sought. Using this technique can double or triple the uncalled return in the OTM write and can seriously boost the assigned return. When the stock really is moving strongly, many times the leg-in writer simply will elect not to write a call at all but simply profit from the stock’s price movement."
Totally agree. Yesterday we got the fake "Apple scuppering plans to increase iPhone 14 production" garbage - conveniently ignoring that they had never announced an increase for iPhone 14, but were looking to ramp-up iPhone 14 Pro, and still will do so...
Then the "rare downgrade" from BofA on AAPL, lots of coverage of that, but not much on the upgrade from Rosenblatt
I think this was a pre-determined short-signal to the bears to jump-in and short everything
And we're the lucky ones who realise this and also profit off it - imagine the average retail investor getting wiped-out by this, od the folks cashing-in their pensions right now at lower-than-expected values
It's a f******g disgrace, and nothing ever gets done about it - are the SEC that incompetent or on-the-make as well?
Bunch of *****, the lot of them
$1200/400 by the end of the year seem impossible 
. I still have my $285 puts for tomorrow. I bought 5 shares today yey... I am also getting tired of this.
. I still have my $285 puts for tomorrow. I bought 5 shares today yey... I am also getting tired of this.Similar threads
