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Optionstrategies

TSLA strangle 195c / 85pTrade thesis - theta collection - current IV rank and percentile are at historical highs aggregating past 252 trading days IV rank: 95% IV %: 99% - near delta neutral options strangle position of 195c/85p on Feb 17 monthly expiry - 85p short leg represent a -32% price buffer to the downside - 195c forms a nearly delta neutral trade on call side (+.02 delta) - 56 DTE / ideal duration to sell premium Position - entry: $123.95 - strategy: strangle - structure: short 02/17 195c (.10 delta) short 02/17 75p (.12 delta) - cost: $500 credit - delta: 2.96 - theta: 13.867 - gamma: -0.86 - vega: -18.13 Targets - Profit target: $250 total profit (50% of credit collected) - SL target: -50% loss - management strategy: roll unchallenged side to higher delta to maintain at least .10 delta on each side roll unchallenged side to higher delta (5 strikes) to collect additional credit (10% minimum of roll width) exit position before earnings on 01/25/23
NASDAQ:TSLA
by EqEx
1
Opening (Margin): /ES April 21st 4800 Short Call... for a 3.35 credit. Comments: On second thought ... . Re-erecting a short call here after taking off a shorter duration one at 50% max. This would be better done on strength, but I have some "unit imbalance" here on the put side (i.e., a greater number of put side units than call ones) and would rather keep the short call in place until I'm able to pull one or more of those units off, particularly since I get it buying power free here.
CME_MINI:ES1!Short
by NaughtyPines
Rolling (Margin): XOP Dec 16th 127C/147P to Jan 20th 130C/147P... for a 3.67 credit. Comments: Rolling for a realized gain with this down move. There was no 127 strike, so rolled the short call to the 130 and the short put "as is." Total credits collected of 28.47 on a 17 wide inverted. Resulting delta/theta -38.14/15.30 with 13.43 of extrinsic, so I'm indicating here that it's a "short" position. Still looking at this for tax loss harvest, but wanted to give it an additional chance running into year's end to make something of itself.
AMEX:XOPShort
by NaughtyPines