Alice in Optionsland

Have you looked at rolling either side?
The plan right now is to let short leg expire worthless and then wait for a down move.

If the move is extreme enough to make the long put DITM, I may start “gamma scalping” with shares against the long put. Or simply close the trade.

If the move down is contained, I will try selling another put as far down and as short duration as possible(something like 990/950 calendar). I would still like to have “lottery ticket” left over.

If I get assigned at 990, I will either sell a call against shares or just try to get out at BE and wait for down move as described earlier.

If TSLA runs up so far that I can’t get anything going, I will just try to salvage whatever I can for a BE trade.

I don’t like rolling because it takes away “flexibility” that I have with just getting assigned shares, at least in my mind. But I assume you suggested rolling to “skew” the existing spread in my favor or something of that nature.
 
Closed short leg for $0.05

upload_2021-11-26_11-11-31.png
 
It’s not over yet. I’m keeping the long leg, so I scan still loose money on this trade.

This is what I don't get...You are long that Jan 21 put at 990. I have not been following the trade through the thread...How much did you pay to buy that put when you did?
 
Yes. But don’t forget that this is for a stock that is very volatile. Now I have almost ATM put at a discount with two months to go.

Well shit, so in reality, the position is down ~3800 bux. Man, that sux total ass. I hate options because of shit like this.
 
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