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You have to remember, everything here is for information only. Rolling, no matter how small of a profit is a decision each investor make for themselves. Only we know what our comfort level is. In your case, you are concern with difficulty with rolling. Thus you rolled, when you saw the opportunity. Yes, the market went up Friday, looking back, waiting would have been a good idea, but I am pretty sure when you rolled on Thursday, it was a relief for you.
Teddi, I would take profits to create more space, but just nothing there. NAS is red. SPY could be red by the close. Not looking good at all. Alvin
Teddi, thanks for the article. I have bookmarked for future reference. I was not assigned last night. With the market up, I am going to hold off until tomorrow to roll. One can hope for another up day tomorrow. Alvin
Caleb, sorry to see that happening. I am in the same situation. I added a bit too much Monday, I had a lot of room. I had a lot of contracts that expired last Friday. I do have a couple of holdings that should survive this week. I will know soon enough. Futures is up. I am looking for a green Thursday and Friday. I hope I don’t get assigned tonight. Good luck. Alvin
Caleb, I don’t like assignment either. Even though it’s out of the money, I wasn’t worry about assignment with TSM and AMD. I did the roll because I was concerned with the market being weak and we could get another down day tomorrow and I would have to roll further out. As a rule, I like to roll down and out a week at a time, but it would have been a debit roll. I went an extra week out to get a credit roll. This is my first roll on AMD. I have rolled TSM to get it down to 119 a few times. I am not really concern with assignment unless we really go south. If I do get assigned, I could sell the stock and resell the puts further out or use one Teddi roll down method and reduce the number of puts. Currently, I am holding 20c of TSM and 10c of AMD. As a rule, I sell puts for income. I am never interested in owning stock. What would I do if it keeps going down, for now, I would say I would keep rolling down. Since there is a shortage of chips, I think the fundamentals are good. I am always hoping for the best. We will see how it plays out. Alvin
I think closing trades early and cutting losses early takes discipline. For me, I take comfort in having room to roll, when a trade goes bad, or I just take the loss. I have learned maybe in this kind of market we are in, just keep my trades to a minimum or smaller, just for my comfortable level. I did not do any trade today. I did roll down on my TSM from 120 to 119, 5/21 exp for a credit of .49 and AMD from 80 to 78.50, 5/21 exp for a credit of .08. Currently, both are still out of the money. I hope both of those will rebound soon. I did both roll before the market ran up towards the close. Teddi did stress the market could be weak and do fewer contracts. If I feel confident tomorrow, that all the ones that I have expiring will expire, I will most likely enter new trades tomorrow.
Teddi, I will definitely look into closing trades early. Thank You. Alvin
Caleb,
Thanks for sharing.
I get the impression that going out at least 2 weeks to get decent premiums. Teddi is going out to 5/21 on a lot of her trades. It appears you are doing the same.
I did do 1 trade today. I was able to get the MSFT, 220s, 6/18 exp. A Teddi trade. I did 5 contracts. I am currently holding the 247.50, 245, and 242.50 for this Friday. I am holding a lot of MSFT puta. I sure hope it moves past my 247.50 strike or I be rolling Friday. No plans of rolling early on MSFT.
I was also trying to sell the 123s for this Friday on AAPL for .20, didn’t fill. I will see if I can get a fill tomorrow.
The best to your continue success.
Alvin
Caleb, I am curious on the trades you did today. If you don’t mind sharing, I love to see your trades. You criteria are mainly 10% downside protection and $5 spread, and known companies. I like the tight spread. I usually don’t like going out 4 weeks. I do at times, if I can get good premium on the strike I am interested. It’s days like this, I tend to just sit on it and not do much. I will most likely will not do much tomorrow. My biggest concern on my account is to have enough room to roll down, should I need to. I want to protect my downside. I may not do much until Thursday or Friday. Thank you for sharing. Alvin
Your list look great, even on a day like today. I wish I could say the same for myself.
On days like the last 2 days. I try not to enter new trades. Keep my fingers crossed on any trades I expect to expire will expire. Any rolls will probably require more margin because most likely wider spread. I always try for a roll down. I always try to keep my rolls to 1 to 2 weeks out. I want to see if the stock in the trade will recover for me to get out from under it. If I am rolling any of my holdings, I will only roll early if I think I will get assigned, otherwise, I will usually do the roll on Thursday or Friday, because I am looking (hoping) for a bounce. This is how I deal with the bearishness in the market.
Teddi, is there any way to adjust the Best Bet tool to search a specific stock too, whether than with a specific price range. Thanks. Alvin
I don’t know how you do it. It must be hard not to be able to follow the action.
Teddi, nice roll down. I need to take more of your approach to roll down. The way the futures is going, I made get that opportunity.
I have both AAPL and PYPL. I have the 132 and 128 for AAPL. On Wednesday, I rolled the 132 to 131 from 2/28 to 3/12 for a credit of .12 Today, I rolled 128 to 126 next Friday, for breakeven, I got lucky and rolled right at the open when it went green. I have PYPL 255s expiring tomorrow. I have 5c. I will decide in the morning. Hoping for the best as always. Of course, I still have others that are in the money. I always try to roll down and keep the time frame tight. Best of luck to you.
Hey, I know the feeling. I am holding a couple of losers myself. Waiting for a bounce. Good luck on your trade.
Did you see, Teddi did a trade on HD.
It is up over a $1. Here is your opportunity to do something if you don’t want to wait.
Thanks.
Teddi, thanks. Alvin
Teddi, it wasn’t one of your. I did this on my own. I sold the 210/195 put spread for a net of .50 for this Friday. I roll it to day. Thank god I did it early today. I rolled the long put from 195 to 185 to for a debit of .01. I had 4c of the short put. I rolled 2c from 210 to 205 for breakeven. I rolled 2c from 210 to 207.50 for credit of .52. It work out for now. When I enter the trade, I did check with the put trading tool, the strike was for aggressive investor. Hope it can get back to 210. Alvin
I know the feeling. I am dealing with it on my MCD trade.