Unhedged on TSLA is crazy. My own trades use AAPL, MSFT, SMH, QQQ, SPY. No TSLA, GME, RIOT or any other high beta stock. Just not necessary.
Like I said I should be able to cover about half of a stocks loss in any normal downtrend. That means that about half is loss. This right here is one of the reasons I am even posting here. Looking at alternatives as I understand this is a problem. But, if this is the strategy then the losses are part of it.
I'll look again at the rolling. Perhaps if one were to follow every couple strikes and adjust Delta as one moves along, or maybe a combo of that and taking assignment, one could still strike up a nice consistent income. But, for me, I am prepared to hold the stock for a longer term. As long as I can still generate income. It's almost become where the stock is just a placeholder. The thing I like to avoid is moving farther and farther out in time and losing the income portion of the strategy for 2,4 or more weeks. |
