I closed $TSLA 20240517 185.0 CALL$ ,Decided to close my covered call early to take profits as tsla seems to have found support at the 20 simple moving average. Even though I sold the call too early and price suddenly rallied the next day I’m still able to make a profit that’s the power of covered calls
I opened $Tesla Motors(TSLA)$ ,Bought more tsla shares at the 20 simple moving average. I believe tsla has bottomed at 140 and this is a good opportunity to add more shares to my long term holdings
I closed $PLTR 20240517 28.0 CALL$ ,Closed my pltr calls as I made 94% in 1 day will continue to monitor price movements as I’m still bullish on the stock after they posted great earnings but will sell calls again if it hits resistance
I opened $PLTR 20240517 28.0 CALL$ ,Sold covered calls on my stock to take advantage of the high IV sold at a high strike of 28 which is a strong resistance. Even if the stock goes higher after earnings I will still profit from the iv crush as long as it doesn’t expire above 28
I closed $SOFI CALENDAR 240503/240614 PUT 8.0/PUT 8.0$ ,Rolled Sofi puts to give the stock more time to recover. They keep beating earnings and growing revenue double digits and are now profitable but the stock keeps going nowhere. Really scratching my head
I closed $PLTR 20240503 23.0 CALL$ ,Took profits on my pltr calls early in case price might rally tomorrow and erase all my gains. Will sell covered calls again before earnings to profit from the high iv and volatility crush
I opened $Estee Lauder(EL)$ ,Bought some EL stock as I think the sell off was exaggerated. It found support at 124. The fed also signalled reduced tapering which adds liquidity to the markets. Maybe more volatility in the near term but I believe the market will end higher in later in year
I opened $TSLA 20240517 185.0 CALL$ ,Sold covered call on my stock as the 20 simple moving average seems to be quite a strong resistance and the market is also pulling back. I sold at $185 strike as 183 is a strong resistance as well
The best and safest way to profit from iv crush during earnings is to sell options, Either covered calls or cash secured puts, because of the uncertainty and big swings in price the premium received is much higher than when the stock is not reporting earnings.. Let us use $Tesla Motors(TSLA)$ as an example as they are reporting earnings next week. If you own 100 Shares of tsla and you are bearish you can sell a call option at the strike price you are comfortable selling the 100 shares. If tsla reports good earnings and the price rallies and expires above the strike of the call, you get to sell the shares at the price you want and get to keep the premium as well. If tsla reports bad earnings and the stock crashes you get to keep the full
I closed $SOFI CALENDAR 240419/240503 PUT 8.0/PUT 8.0$ ,Rolled my cash secured put out till after earnings to earn more premium due to the high iv. I’m confident that Sofi will beat earnings but lately many stocks have beat earnings but the price still drop. The roll function on the tiger brokers platform is really awesome. Before I had to buy back the put and sell another put.