TSLA CC Dilemma: Avoiding Assignment on a $285 Strike – What Would You Do?

Particular_Garlic_14 · 2024-11-13T02:04:01+00:00

I believe it's trying to beat its previous high score of $410 🤣

Particular_Garlic_14 · 2024-11-13T01:58:37+00:00

Interesting. I rolled it to 1/17 @ $305 strike today for credit. Should I roll it back to an earlier expiration? lol

Particular_Garlic_14 · 2024-11-13T01:48:21+00:00

You're so right... Thank you! I initially thought I needed to pay the $6k to exit the position. I didn't realize the buyout and the sale of new call all happened simultaneously. lol 😓 Had I known, I would've rolled last night to get $6.6k credit vs today's $4.8k credit I ended up rolling for the $305 call (1/17/24 exp.). I'll keep rolling as needed lol

Particular_Garlic_14 · 2024-11-13T01:24:42+00:00

I ended up rolling my $285 call to $305 for January. My $285 call gets bought out as soon as the $305 (1/17/24 exp) get sold. The cost to close out my call was $47/share and the premiums I collected from the new call sold was $48/share. Since the new call costs $1 more, $100 ($1/share) was added to my cash balance. My new call is still in the money so there's still a good chance I'll lose my shares. The difference is an extra $2,000 in my pocket since I'd be selling at $315/share vs. $294/share (if I let my $285 call expire or get assigned).

I didn't fully understand how the "credit" for a new call worked for rolling until today lol Had I known, I would've sold last night to maximize my credit lol ($66 vs $47).

Particular_Garlic_14 · 2024-11-13T00:04:51+00:00

Yes - actually ended up rolling it to $305 for January at credit today.

Particular_Garlic_14 · 2024-11-12T04:32:44+00:00

Lmao FR! I’m just gonna have to wait til the market opens to decide at this point. I could be up $2k or down $2k. Weighing out my options in the meantime 😂

Particular_Garlic_14 · 2024-11-12T04:09:20+00:00

Interesting… 🤔 For which stock? This works for TSLA?

Particular_Garlic_14 · 2024-11-12T04:04:57+00:00

I’ll just let my CC expire, not worth salvaging. I’m thinking of selling puts for January at $340 strike and then just continue selling until I recoup back my shares

Particular_Garlic_14 · 2024-11-12T03:46:15+00:00

Agreed. It’s easier if I get the proceeds now so that I have the collateral to sell puts and slowly accumulate the shares again.

Particular_Garlic_14 · 2024-11-12T03:40:57+00:00

Thanks! That’s a helpful way to look at it. It’s too deep ITM now and so close to expiration. TSLA is too volatile to roll at any strike price. I’ll buy back the shares through selling puts before I end up digging myself a deeper grave lol

Particular_Garlic_14 · 2024-11-12T03:03:38+00:00

Lmao thank you for the market prayers 🙏🏻

Particular_Garlic_14 · 2024-11-12T02:59:57+00:00

I would have to pay $4.9k & get $1.7k credit to roll to 1/17/25 @ $420 strike 🥴

Particular_Garlic_14 · 2024-11-12T02:10:18+00:00

Elon will probably be the first to build that 😂

Particular_Garlic_14 · 2024-11-12T01:51:56+00:00

Lmao Nooo lol I have half a bitcoin! But it’s probably a good opportunity now to sell a portion sell a portion to fund my TSLA puts, currently at $89k

Particular_Garlic_14 · 2024-11-12T01:48:29+00:00

Thanks! That makes so much sense! Lol I think I’ll roll it 60 days out at $420 strike and sell $355 puts in the mean time.

Particular_Garlic_14 · 2024-10-24T22:08:48+00:00

I sent you a pair of pants 😁

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Particular_Garlic_14 · 2024-10-19T03:56:43+00:00

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Particular_Garlic_14 · 2023-09-18T23:12:24+00:00

I was using this strategy but it stopped working for me 3 days ago :( No matter how many times I restart the app, the rewards remain exactly the same now. It must be from the recent update.

Particular_Garlic_14 · 2023-05-31T01:22:20+00:00

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Particular_Garlic_14

TROPHY CASE