Iron Condor on TSLA

Discussion in 'Options' started by Pekelo, Jun 12, 2017.

  1. lylec305

    lylec305

    pumpkin pie lol
     
    #21     Dec 17, 2017
  2. Pekelo

    Pekelo

    Never change a working strategy:

    Selling March IC 290/300/390/400 for $4.15
     
    #22     Dec 18, 2017
    lylec305 likes this.
  3. Pekelo

    Pekelo

    6 weeks later, and the price is still around $354, this is probably the longest range zig-zag in Tesla's history. I started this thread 7 months ago...
     
    #23     Jan 31, 2018
    lylec305 likes this.
  4. You are right TSLA is caught in a range sort of between 310-380. I havent done your IC but made directional bets in the period any time it was below 320$ and bailing around the 360$ mark - its been consistently profitable.
     
    #24     Feb 1, 2018
  5. Pekelo

    Pekelo

    Since the price is testing the lower side, although 300* seems to be support, I would sell the Apr 350/360 vertical calls for 1.8, to help out with the possible loss on the put side...

    *Edit: scrap that :)
     
    #25     Feb 9, 2018
  6. Pekelo

    Pekelo

    Only 3 weeks to go and price is back at $351, position is down to $1.1, more than 70% ROI.
     
    vanzandt likes this.
  7. newwurldmn

    newwurldmn

    Wow. Three months to earn 1percent on notional and two times where things could have gotten pretty hairy.
     
  8. Pekelo

    Pekelo

    Da fuck you talking about? Who cares about notional? It is like shorting a stock at 41 and the stock is down to 11. How is that 1% for you? The amount is really up to you how much you invest in the position, how many contracts you use. That is why I used ROI.
     
  9. newwurldmn

    newwurldmn

    ROP (return on premium) is stupid when looking at the return for shorting options. If your options were all of a sudden worth 50 dollars would you consider that a 1000percent loss? If you shorted the gut strangle instead (which would have been like 104 dollars would you call that a 2percent return?)

    If you shorted a stock at 41 and it went to 11 you would have made 70percent. If you shorted an ATM call instead, was your return better despite the same downside risks?