Yes, I would roll the 420CC to Jan 2026 for what ever I could get for no debit. It looks like if I had 200CC for this week, I could roll them up 50% to 300 strike for Jan 2025. So I would hope that if my 420CC went in the money, I could roll them a year and get to a least a 500+ strike price.
no. If yesterday was the high, today we're working on wave 3, the most aggressive of them.
I already closed the weeklies, same strike for 90% profit, so this is a tiny tiny placement just for daily turn around. Like I said, don’t do as I do…other than most of the time ;-)
i see more of a decent head and shoulders incoming on the 5 minute chart. Neckline 231.30-ish. Head 234.82. So Friday a pattern like 231-229.5-231-226.50 or so would confirm that and be very close to 226 to leave us all gasping for air over the weekend. What should I have done on this short Friday? (remember markets close 13:00 EST!!)
Friday is a short day. I doubt SP will move much. Also likely to be low news days .... (unless there is a planned news dump event).
Have you all seen the volumes today for options? EV now is probably more right than me (on 226 )unless something big is happening and I do not mean the Netherlands right-wing-guy who apparently is winning the elections....
Interesting. So, you are earning some $10 in 2024 and $18 in 2025 (or whatever you can get on a roll if not ITM) ?
Yes, I would roll the 420CC to Jan 2026 for what ever I could get for no debit. It looks like if I had 200CC for this week, I could roll them up 50% to 300 strike for Jan 2025. So I would hope that if my 420CC went in the money, I could roll them a year and get to a least a 500+ strike price.
Seriously though, I appreciate your continued advice on this.
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www.barchart.com
Seem like a good plan. I added some risk management on the put side (making it a condor) and below is the cost and reward based on last price.Related/unrelated, just came across this:
TSLA Option Trade Could Unlock a 36% Annualized Profit
Tesla (TSLA) stock is back above the 50-day moving average, although the stock did close off the high yesterday.
“By using a combination of option strategies, we could potentially buy the stock for a significant discount, or achieve a healthy profit if the stock trades sideways.
Here’s the trade:
Sell to open the TSLA December 15 put with a strike price of $225, which was trading around $4.55 yesterday.
Then, add a bear call spread:
Sell to open the TSLA December 15 call with a strike price of $275, which was trading around $2.80 yesterday.
Buy to open the TSLA December 15 call with a strike price of $280, which was trading around $2.20 yesterday.
The sold put brings in around $455 in option premium, and the bear call spread adds another $60 in premium. In total, the combination of the two trades generates $515 in premium.
- If TSLA stock trades sideways and finishes between $225 and $275, the sold put and bear call spread will both expire worthless. The total profit will be equal to the premium received of $515.
- If TSLA falls below $225 at expiration, we will be assigned on the sold put and will be forced to buy 100 shares at $225. However, our net cost basis will be $219.85, thanks to the $515 in option premium received. That is 8.6% below the closing price on Tuesday.
- If TSLA rallies above $280, the bear call spread will suffer a full loss of $500, but this will be fully offset by the $515 premium received, leaving the trade with a small gain of $15.”
These are great updates… pretty soon we’re gonna start calling you “papafox”
1000% agreed. Jim's updates has been a part of our daily rituals. Thank you for what you've shared with us.
