Some Tesla long dated calls getting absolutely crushed today with Musk's tweet essentially capping the stock's future upside in some traders' view 🤕
At last check:
– Jan 18 2019 $500 Calls ⬇️22%
– Aug 16 2019 $700 Calls ⬇️73%
– Jan 17 2020 $600 Calls ⬇️48.9%$TSLA— Benzinga.com (@Benzinga) August 7, 2018
Daily Archives: Tuesday, August 7, 2018
Downside Warning finally canceled
#VIXIndicator Third time’s a charm for an Upside Warning? Two more closes below 11.20 and we’re golden.
Account Thinning Out Thanks WTW / Closed Early TRTN Short Puts AAXN Calls
#earnings
$WTW trades both under water. Is that like water boarding?
#shortputs
$TRTN BTC 8/17 35 put at .30. STO at 3.70 on 7/18. Thanks to @thomberg1201 for bringing the stock to the bistro
#shortcalls
$AAXN BTC 8/17 80 call @.70 Sold for 2.25 Half position. The covered became uncovered as a trailing stop got hit.
#shortputs #closing AMAT June 7…
#shortputs #closing AMAT
June 7 sold July 20, 48 put for .81, June 28, rolled it to Aug. 17 for 4.19, basis of 153.93, bought today for .63
TSLA started trading
TSLA started trading at 382. What is the best way trading it?
#shortputs #pietrades DOCU July 9,…
#shortputs #pietrades DOCU
July 9, sold July 20, 55 put for 1.95, July 19 rolled it to August 17 for 4.27, bought today for .50, will look at it again after earnings.
TQQQ
I am back in this long term trade.
BTO January 2020 66.67 calls @ 17.00
STO August 17, 69.5 calls @ .55 cents.
I need .23 cents per week to break even and 75 weeks to go.
TSLA
I always say I will never trade anything except SPX. Today I did the mistake by trading TSLA. No one expect Mr. Musk decide to buy the company after Saudi’s gave him 1 billion. Damn both.
SPX Trades
BTC Aug 24th 2725 Short puts, @ 2.20, sold prev @ 9.35
Closes that weekly trade out at +9.60…..
BTC Sept 7th 2725 short puts at 5.50, sold prev at 13.00
resold the same puts for 5.40 for the rest of the prem they have….
BTC sept 14th 2725 short puts at 7.50, sold prev for 16.00
Resold the same puts for another 7.40 in premium..
TSLA
it seems they stopped trading TSLA
TSLA
#LongCalls #LongPuts #LEAPS – Trading both sides. Not willing to risk Muskie actually being serious about the buyout. Calls were already ITM so rolling them out and above my long 2020’s until things calm down.
Rolled TSLA AUG 31 2018 292.5 Calls to JAN 17 2020 360.0 Calls @ 4.24 debit
These had 32.56 of credit in them already so that reduces to 28.32. Had already reduced the basis in the long calls by quite a bit. A quick look at the numbers shows:
Long 2020 350/360 BeCS @ 23.30
If the buyout were to actually happen it would be a 13.30 loser but that’s better than without the roll. I’ll continue selling the put side for now.
#shortputspread SHOP Sold Sept. 21,…
#shortputspread SHOP
Sold Sept. 21, 115/125 for 1.25, SHOP is at 142, looks like it has stabilized after a drop from 176 over the last 2 weeks.
Also Tesla starts hiring for…
Also Tesla starts hiring for new $2 billion Shanghai plant
#fallingknife Z is down 14%
Z is down 14%
TSLA
what is happening to TSLA, +15 points
Early #pietrade rolls. Market giving…
Early #pietrade rolls. Market giving some gifts so taking them early.
MU 55/53.5 #fuzzy rolled the 10 DTE 53.5 call up to 54 and 1 week out for 0.19 credit. Cb now 12.43. Almost recovered all the earnings losses. 2 more rolls should break even then will keep it going for profit.
WDC 10 DTE 69.5 CC rolled out a week and up to 70 for 0.11 credit. Cb now 72.34. A few more weeks to break even but may convert to a #fuzzy before then.
EOG wild 4 days ride. Down almost 5 when I sold the 43 DTE 112 outs for 1.29. Now back up and they were down to 0.60 so rolled out to new 45 DTE 115 for 0.5 credit. cb 113.2 if assigned. This was planned as a 3 week trade but made 50% in less than a week so will take it.
Sitting on my hands until Thurs. now.
WTW earnings
I just wanted to show y’all how well this trade performs for earnings. WTW has been down as much as almost 15% today, yet my trade is profitable. On top of that, since it is in the “second step” I have a max profit of $1013 to shoot for. My target profit is 1/2 of max. If there is a whipsaw recovery on this stock, my max profit doesn’t drop below $505 (no upside risk).
WTW
#FallingKnife ? – Might be starting a bounce here…
UVXY
#ContangoETFs – New lifetime low….c’mon Mr. Market give us a 1 for 10 this time!
#coveredcallcampaign MET sold Sept. 47.50…
#coveredcallcampaign MET
sold Sept. 47.50 call at .84
#shortcallspreads TSLA From Tradewise ,…
#shortcallspreads TSLA
From Tradewise , their usual 2.5 wide spreads, sold Aug. 31, 357.50/360 call spreads at .90.
BABA
#LongCalls #LEAPS – Started this yesterday as a non-ratio. Approaching negative deltas so rolling out and up. Negative deltas a second time and I’ll book it and move on down the road. This is all still prior to earnings…
Rolled BABA AUG 10 2018 180.0 Calls to AUG 17 2018 182.5 Calls @ .13 credit
TWLO WTW Earnings
#Earnings #ShortStrangles – Small positions on not very expensive stocks so I’ll hang on and trade ’em for awhile. I’m great at picking the ones that move 15 or 20 percent on 70 dollar stocks… 🙂 🙂
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TWLO:
56/72 Strangles and the call side has been threatened so selling some additional puts…
Bought to Close TWLO AUG 10 2018 56.0 Puts @ .02
Sold TWLO AUG 10 2018 71.0 Puts @ 1.10
Now holding 71/72 Strangles @ 3.19 for this week
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WTW:
Similar to TWLO but in the other direction.
83/101/103 Jade Lizards and the put side has been threatened so selling additional calls…
Bought to Close WTW AUG 10 2018 101.0/103.0 Bear Call Spreads @ .02
Sold WTW AUG 10 2018 86.0 Calls @ .85
Now holding 83/86 Strangles @ 2.94 for this week
Smoother sailing?
#VIXIndicator Monday’s close on the VIX was the lowest since January 23rd, before this whole mess started. And we’re rallying in pre-market, with VIX hitting a low of 10.90, which is the lowest low since Jan 24th.
Options Bistro 