McInnis 03 said:

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TSLA VOLUME

FIRING UP 5m squeeze, cold trigger a squeeze dam break.

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f yeah

Just closed both my Broken-Wing Butterflies on TSLA, let me work up the finale tally.

Now I just need TSLA and ROKU to HOLD thru tomorrow.

ROKU big volume spike break out. Trying to find news...

McInnis 03 said:

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McInnis 03 said:

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TSLA VOLUME

FIRING UP 5m squeeze, cold trigger a squeeze dam break.

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10m and 15m squeezes have been fired as well. BULLISH

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I think you'll like this play.

1800/1850/1920 C fly. Can get $800 credit or so for it. Adding this to the put fly gives you over $1k in credit and if it closes between 1800-2000, you're good. If it closes above or below there, you're risk is less than $1k.

edit...nvm, just saw you closed it out.

McInnis 03 said:

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Just closed both my Broken-Wing Butterflies on TSLA, let me work up the finale tally.

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8/17 opened 1790/1850/1900p BWB fly
Received $1.35 to open, risk $8.65
Closed 8/20, received $7.00 to close
$8.35 credit total minus t&c

8/18 opened 1890/1940/1980p BWB fly
Received $2.00 to open, risk $8.00
Closed 8/20, received 5.01 to close
$7.01 credit total minus t&c

Could have held to tomorrow and had things just rocketed to above 1980 I'd have kept the $2.35, but I had a hole in the middle there around 1900 that I didn't want to defend.

QD playing games with me

Colt98 said:

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What do you guys think about FSLY. I bought some Aug 28 85 calls yesterday. Thinking model T gets it to 95 soon....

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Pay the man

Good trade.

McInnis 03 said:

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McInnis 03 said:

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Just closed both my Broken-Wing Butterflies on TSLA, let me work up the finale tally.

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8/17 opened 1790/1850/1900p BWB fly
Received $1.35 to open, risk $8.65
Closed 8/20, received $7.00 to close
$8.35 credit total minus t&c

8/18 opened 1890/1940/1980p BWB fly
Received $2.00 to open, risk $8.00
Closed 8/20, received 5.01 to close
$7.01 credit total minus t&c

Could have held to tomorrow and had things just rocketed to above 1980 I'd have kept the $2.35, but I had a hole in the middle there around 1900 that I didn't want to defend.

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my 1875/1950 spread cost $29 and should max out at $75

TriumphForks said:

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QD playing games with me

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Right off the 21 EMA

Ragoo said:

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McInnis 03 said:

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McInnis 03 said:

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Just closed both my Broken-Wing Butterflies on TSLA, let me work up the finale tally.

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8/17 opened 1790/1850/1900p BWB fly
Received $1.35 to open, risk $8.65
Closed 8/20, received $7.00 to close
$8.35 credit total minus t&c

8/18 opened 1890/1940/1980p BWB fly
Received $2.00 to open, risk $8.00
Closed 8/20, received 5.01 to close
$7.01 credit total minus t&c

Could have held to tomorrow and had things just rocketed to above 1980 I'd have kept the $2.35, but I had a hole in the middle there around 1900 that I didn't want to defend.

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my 1875/1950 spread cost $29 and should max out at $75

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Really nice job not getting shook. I was worried last night. Now keep an eye, 1950 may not be safe overnight, but who knows, looks like TSLA 2000 day.

I have some TSLA 8/21 1950/2050 spreads. How dumb would I be to sell back my lower strike price and risk TSLA not passing 2050 by tomorrow to keep the higher strike price premium??

NIO looks buyable here after a double bottom. I've been loaded for a while so still holding.

wanderer said:

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I have some TSLA 8/21 1950/2050 spreads. How dumb would I be to sell back my lower strike price and risk TSLA not passing 2050 by tomorrow to keep the higher strike price premium??

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Turn off the machine and walk away. You have good protection in place, don't ruin it.

DDOG is having a great day! I've got 80c expiring tomorrow. Should I pull the trigger now to StC or wait

McInnis 03 said:

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Ragoo said:

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McInnis 03 said:

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McInnis 03 said:

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Just closed both my Broken-Wing Butterflies on TSLA, let me work up the finale tally.

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8/17 opened 1790/1850/1900p BWB fly
Received $1.35 to open, risk $8.65
Closed 8/20, received $7.00 to close
$8.35 credit total minus t&c

8/18 opened 1890/1940/1980p BWB fly
Received $2.00 to open, risk $8.00
Closed 8/20, received 5.01 to close
$7.01 credit total minus t&c

Could have held to tomorrow and had things just rocketed to above 1980 I'd have kept the $2.35, but I had a hole in the middle there around 1900 that I didn't want to defend.

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my 1875/1950 spread cost $29 and should max out at $75

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Really nice job not getting shook. I was worried last night. Now keep an eye, 1950 may not be safe overnight, but who knows, looks like TSLA 2000 day.

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i have a sell order in place the further away from 1950 we get delta approaches 1. Just need one matching buyer for each strike.

gougler08 said:

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TriumphForks said:

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QD playing games with me

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Right off the 21 EMA

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Let me buy some more at 1.60

Ragoo said:

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McInnis 03 said:

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Ragoo said:

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McInnis 03 said:

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McInnis 03 said:

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Just closed both my Broken-Wing Butterflies on TSLA, let me work up the finale tally.

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8/17 opened 1790/1850/1900p BWB fly
Received $1.35 to open, risk $8.65
Closed 8/20, received $7.00 to close
$8.35 credit total minus t&c

8/18 opened 1890/1940/1980p BWB fly
Received $2.00 to open, risk $8.00
Closed 8/20, received 5.01 to close
$7.01 credit total minus t&c

Could have held to tomorrow and had things just rocketed to above 1980 I'd have kept the $2.35, but I had a hole in the middle there around 1900 that I didn't want to defend.

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my 1875/1950 spread cost $29 and should max out at $75

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Really nice job not getting shook. I was worried last night. Now keep an eye, 1950 may not be safe overnight, but who knows, looks like TSLA 2000 day.

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i have a sell order in place the further away from 1950 we get delta approaches 1. Just need one matching buyer for each strike.

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Don't be afraid to take a small discount to make a lot of money!

AMD volume spike. I keep seeing these short spike volume spikes in momentum names. The 59 fund is rocking today with some indication that there is way more to come. Interesting action on my goto names for a random flatish Thursday. Not sure what to think... need an OA or aggiedaniel or clay bat signal for some macro indication...

fooz said:

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gougler08 said:

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TriumphForks said:

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QD playing games with me

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Right off the 21 EMA

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Let me buy some more at 1.60

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That's my accumulation point as well

GOCO just fell through the floor.

Prognightmare said:

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GOCO just fell through the floor.

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I don't get this, I thought the earnings were good.

Txducker said:

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Prognightmare said:

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GOCO just fell through the floor.

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I don't get this, I thought the earnings were good.

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Buy the dip?

Quick question - I had some SQ Dec calls there were net free and have been selling OTM calls against them. There's a pretty chance that these will be ITM come Friday. I know that I could buy them back and be fine, but what happens if I didn't?

I've been called out on covered calls before and just lost my shares. Would this be similar to being called out on naked calls (have never dipped my toes in that water) or does me having further out strike dates affect how this is treated? This is in TDA if that matters.

McInnis 03 said:

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wanderer said:

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I have some TSLA 8/21 1950/2050 spreads. How dumb would I be to sell back my lower strike price and risk TSLA not passing 2050 by tomorrow to keep the higher strike price premium??

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Turn off the machine and walk away. You have good protection in place, don't ruin it.

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On top of that, the 1,950 is only getting $56 in premium so that's saying it expects to expire at 2,006 tomorrow. if it expires at 2006, the 2050 is worthless anyway. So nothing to gain by selling the 1950 and holding the 2050. If it closes under 2,000, then you'd start losing some money from the current point.

I probably didn't clarify enough in my original question.

I was considering selling my 1950 and holding my 2050 to keep (hopefully) the premium if it doesn't cross 2050. This would be instead of closing out the spread all together while TSLA has shot up.

Rice and Fries said:

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Txducker said:

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Prognightmare said:

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GOCO just fell through the floor.

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I don't get this, I thought the earnings were good.

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Buy the dip?

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I did at 17.58.

wanderer said:

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Quick question - I had some SQ Dec calls there were net free and have been selling OTM calls against them. There's a pretty chance that these will be ITM come Friday. I know that I could buy them back and be fine, but what happens if I didn't?

I've been called out on covered calls before and just lost my shares. Would this be similar to being called out on naked calls (have never dipped my toes in that water) or does me having further out strike dates affect how this is treated? This is in TDA if that matters.

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you can roll the covered calls out. If they expire friday, a roll would be buying them back and reselling a later date (possibly higher strike also) for more premium (credit) or more time (debit) in the same transaction.

TSLA continuation bar on the 30m, that was fast. Algo's doing algo things I guess. Could still fail and become an outside bar.

Prognightmare said:

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Rice and Fries said:

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Txducker said:

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Prognightmare said:

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GOCO just fell through the floor.

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I don't get this, I thought the earnings were good.

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Buy the dip?

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I did at 17.58.

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Any chance all that action before it broke suppport at 17.5 was shorts who then loaded up under 17?

wanderer said:

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I probably didn't clarify enough in my original question.

I was considering selling my 1950 and holding my 2050 to keep (hopefully) the premium if it doesn't cross 2050. This would be instead of closing out the spread all together while TSLA has shot up.

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Right. I'm saying if you were to sell that one leg now, you'd pocket the $55 premium (plus whatever you sold the 2050 for which I'm assuming was around $20 so call it $75) and then hope it doesn't go past 2050 as it would be cutting into your premium from the 1950 you sold. But say it ends up closing at 2055. You'd net $100 in premium then (105 from the 1950 less the 5 from the 2050). So you'd be shorting yourself out of an additional $40 in premium (125 total premium received less the 5 in premium you'd have to pay out).

Conversely, if it closes below say 1970 (assuming that's around your break even), then you'd be losing on that as well. That said, if you're going to close out the 1950, you should close out the whole thing and take the current profit.

That's my opinion, but someone smarter than me could give better advice. I'm new to the fly's still. There's a reason McInnis earned the "McFly" monicker.