Weekly Summary ending 31 December 2021
Monday - Began the week selling BPS as usual. 7 Pairs entered for 910/890P. Then TSLA moved up and I saw opportunity in getting BCS. got 7 pairs at 1310/1330C. This effectively set up as Iron Condor where I can use 1x OBS to enter both sides, BPS and BCS.
Entered BABA Leap Jan 20, 2023. Meanwhile, sell covered call with SP127 for 40USD. It has been a while since I entered new LC. But BABA at this price is too tempting. And buying 100 shares will expose me to great risk (political). Thus LC seems to be a more viable options and max loss is 2.6k
Tuesday - Added 3 more pairs of BCS for TSLA at 1310 SP. Meanwhile also added 2 pairs of BPS at 910 SP. This is the first time I'm doing Iron Condor for TSLA. Its pretty efficient in terms of premium collected. But it has it downsides as well. If things go wrong, may need to close both sides as there will be margin issues.
Overall from TSLA vertical, $573 was recorded for the week. I posted this early, before market opens on Friday, as I don't really see TSLA closing above 1310 or below 910 for the week.
Wishing for a great 2022 for everyone.
Love from the Noob