SebastienBonny
Member
Closed 200CC for Friday for 0.40 (sold Friday for 2.35).
Let’s see what tomorrow brings.
Let’s see what tomorrow brings.
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Beautiful executionClosed 200CC for Friday for 0.40 (sold Friday for 2.35).
Let’s see what tomorrow brings.
Last week’s rise wasn’t easy, so got to take profits earlyBeautiful execution
Hopium got the best of you - again! I’m positioning exactly the opposite. Trying to roll the 135s weekly until they magically expire worthless or close to that and I can roll up for a credit.Meh, remember what I said last week about holding on to ITM positions for a bit and let the SP come back to you...?
Anyway, wasn't comfortable with 22X -c130's DITM after last week's monster climb, sitting around hoping for the SP to drop when I'm feeling very bullish on the stock doesn't make sense. Plus the 13x -c150's I had open too...
Anyway, to cut to the chase, had 26c -c150's expire and exercise, giving welcome helping of cash to the account - most of this from trading shares, that I've been selling calls against for months now, pretty sure I'm net +$profitable on the while chain, but it's too complex to work out
Anyhow, closed out the -c130's and -c150's with orders placed before open, that was fine. Managed the first roll OK 22x -c130 -> July 23 -250 straddle, the second one was supposed to be 13x 2/2 -c150 -> 10x 2/3 -180 straddle for this week, but only got the put sell in before the SP started to drop. Left the sell order in place as it kept trying to recover, then you know the story, chasing it down all day, but never came back to me
No big deal, but a bit annoyed with the deceptive pre-market today
I'm wondering if folk took profits on bought calls, some of which went up 2000% on Friday, easy profits to sell those early today, which would then mean a bit of repositioning from the MM's selling shares to stay neutral
Looking for some recovery tomorrow and FOMC to do the right thing Wednesday...
And just like that...confirmation. Our prophet has spokentime sensitive: I'm sensing large put inflow into TSLA. The confirmation will be a break below 167. I'm rolling my short puts out to 2/10 150P now.
If those were mine, I’d wait until at least Wed AM, seems like there’s a good chance those stay OTM.Trying to decide if I close my 195 and 200cc for Friday with a small loss now (they were a huge loss three days ago). I can’t tell if today is a small breather in the market before recovering tomorrow and ripping end of week after Fed meeting?… I would hate for them to go ITM by Friday. I’m thinking close now, and open something new in a few days if there is a bounce. Thoughts?
Have you found dealer delta positioning as instructive as the gamma? According to this from Tradytics (posted yesterday) which tracks it we should be long TSLA now based on the negative dealer delta exposure (which equals rise in share price):166.66 is the dividing line of the near inverted symmetrical chart. Keep in mind also that p155, p160, p165 , c170, c175, c180 near peak gamma have significant open interest (second chart). Given this pattern and slightly gamma positive, it may suggest we see some of the same Tuesday with a chance to recover some.
View attachment 901464 View attachment 901466
Doe
Have you found dealer delta positioning as instructive as the gamma? According to this from Tradytics (posted yesterday) which tracks it we should be long TSLA now based on the negative dealer delta exposure (which equals rise in share price):
Or earlier... the call is worth about $43.2 right now, so it's got about a dollar and a half or so of extrinsic... whichever comes first (call value + strike < price) or 2/17.Noob question - I have 50x 2/17 $125c and want convert them into shares (have enough cash to cover).
If I leave it open pass 2/17 and SP is above $125, it will automatically convert my cash into shares at $125, right?
I saw that yesterday, thanks for sharing. Honestly, I am learning (as you saw from my mistakes earlier today). The gamma exposure isn't exactly an indicator of what actions to take, as much as it is highlighting work MM need to consider; delta hedging. I use it as another datapoint when deciding which side I want to play. The dealer delta positioning seems to be good as demonstrated with TSLA but not identical for all tickers as demonstrated with MSFT on yesterdays video, for instance. I like it nonetheless... it's another perspective if were purely trading shares. Right now, I am trying to generate cash so that I can buy back the shares I had to let go of a month ago
Why do you want to wait until 2/17 instead of exercising the call option yourself?Noob question - I have 50x 2/17 $125c and want convert them into shares (have enough cash to cover).
If I leave it open pass 2/17 and SP is above $125, it will automatically convert my cash into shares at $125, right?
Or earlier... the call is worth about $43 right now, so it's got about a dollar or less of extrinsic... whichever comes first(call value + strike < price)(price - call value < strike) or 2/17.
EDIT: I had it wrong... subtract the value from the price. If it's less that the strike, I believe the call sellers shares will get called away. So, it's166.66 - 43.2 (ask) = 123.46 , they may be yours already? Someone confirm this is the right calc pls.
True, if he does nothing the call expires. I responded with what would happen to the call sellers shares / expiring sold call. My bad. I also revised my comment after confusing myself.I’m confused - he owns the option so he can choose when to exercise.
I would just sell the calls and buy shares with the proceeds, unless there are tax considerations.