What a day! I have a boatload of premium sold against synthetic stock that expires this week. My whole world right now is scrolling through extrinsic values to catch the right time for rolls or closures.
TSLA: I’ve got a double-sided position here hedged with both puts and calls, rolled both today from June 1 to June 8 collecting $699 on the roll. June 8 275 put/300 call (that 300 might be tight!!).
SHAK: I did a small CoveredBackRatio on this due to it being at all time highs….high begets higher though. I did a debit roll for .28 to capture an additional 1.50 upside. I’ll usually only debit roll once on these. SHAK has already blown the new strike, so I’m watching extrinsic value for the exit point.
TQQQ (pre split): Ditto on above. .29 debit for 1.67 add’l upside.
AMZN: Trying to get a full position exit on this for around $1450 profit. There’s still about $3.00 of extrinsic in my DITM short calls. No rush, but need to keep an eagle eye on it. Update: filled for $1443 profit in one week. Flat AMZN now but will look for a reset.
A few other things with hedges ITM, but enough extrinsic still to wait a bit: CRM, ADBE, RHT, GRUB, TWTR, NVDA.
Options Bistro 