Wiki Selling TSLA Options - Be the House

[phantasms]

I wonder how this will affect things next week. Does this have a magnet effect for the SP due to MM hedging and when [and if lol] these expire worthless does the SP float back up?

Personally I have a 0.01 limit buy order in since yesterday on hundreds of 145 puts for next week that are currently at 0.02. I'm not sure if I'm doing this right but maybe we'll get a spike up at some point and it will hit. What puts, if any, are people buying up for the near term?

Edit: to add. Is there any sort of a tool or way to figure out at what SP/Time remaining combo would the price of these .02 fall to .01? Would be a great way to set limit orders on options when there's an expectation on where the SP is going. Since retiring I'm more in the mountains and less at the computer these days.

 

[Jim Holder]

Today can consider trying rejections off the Bollinger Band at $250 area (rejected there before, see chart below)
Yesterday's low: $244.50
Previous day: $242.60
Target low: $241
If it loses $241 then $238.60 and $234 and then if loses that there is $15 more points room down. Possibly to the 200-day at $206

 

[elasalle]

@dl003 so today seems to be setting up to be the day to scare shorts out of their puts and short positions. Are we still on schedule to test low $250’s today and elevator down toward $230 and lower later today/tomorrow with selling intensifying?

 

[Jim Holder]

Today can consider trying rejections off the Bollinger Band at $250 area (rejected there before, see chart below)
Yesterday's low: $244.50
Previous day: $242.60
Target low: $241
If it loses $241 then $238.60 and $234 and then if loses that there is $15 more points room down. Possibly to the 200-day at $206

View attachment 979538

TSLA didn't reject $250 BB, approaching resistance $254.88-$255.28, big spot.
Was $252.77 the last hurrah? Seems to be holding up.

@dl003 Is this the mirage you were referring to, MM making it look strong to scare out shorts?
Lots of $255 calls flowing in.

 

[SpeedyEddy]

@SP252.77 STO -C240 STO -C252.50 Let the games beginneth!!

 

[Max Plaid]

I wonder how this will affect things next week. Does this have a magnet effect for the SP due to MM hedging and when [and if lol] these expire worthless does the SP float back up?

Personally I have a 0.01 limit buy order in since yesterday on hundreds of 145 puts for next week that are currently at 0.02. I'm not sure if I'm doing this right but maybe we'll get a spike up at some point and it will hit. What puts, if any, are people buying up for the near term?

Edit: to add. Is there any sort of a tool or way to figure out at what SP/Time remaining combo would the price of these .02 fall to .01? Would be a great way to set limit orders on options when there's an expectation on where the SP is going. Since retiring I'm more in the mountains and less at the computer these days.
View attachment 979537

OptionStrat gives some intra-day pricing info, you get more detail as the expiry approaches

Seems to me that they're overpriced at 0.01 - would need a sudden 10% move down to make something of them

 

[phantasms]

OptionStrat gives some intra-day pricing info, you get more detail as the expiry approaches

Seems to me that they're overpriced at 0.01 - would need a sudden 10% move down to make something of them

The "theoretical price" on TDA is 0. Ah well, I bought 250 of them with profits from selling calls for the week. I'm new to put buying, obviously. Thank you!

 

[Knightshade]

I wonder how this will affect things next week. Does this have a magnet effect for the SP due to MM hedging and when [and if lol] these expire worthless does the SP float back up?

Personally I have a 0.01 limit buy order in since yesterday on hundreds of 145 puts for next week that are currently at 0.02. I'm not sure if I'm doing this right but maybe we'll get a spike up at some point and it will hit. What puts, if any, are people buying up for the near term?

Thanks to the (dl003 predicted) bounce this morning I was able to close this weeks -245p for a small profit, which I rolled into some +200p for Nov 17... If dl003 is right about a crash into the 200-230 range in the next month-ish it'll be a nice 5-10x return potentially, if not eh it's paid for with profit from a position I originally would've been happy to exit even.

 

[Singuy]

So thinking about selling leaps and closing them in jan vs selling calls exp in Jan. Right thing to do?

 

[Jim Holder]

QTA levels today:

 

[phantasms]

Thanks to the (dl003 predicted) bounce this morning I was able to close this weeks -245p for a small profit, which I rolled into some +200p for Nov 17... If dl003 is right about a crash into the 200-230 range in the next month-ish it'll be a nice 5-10x return potentially, if not eh it's paid for with profit from a position I originally would've been happy to exit even.

Nice! I just picked up a bunch of p180s for 10/20 for 0.19 a pop. I wonder if I should do some further out as well.

 

[juanmedina]

So thinking about selling leaps and closing them in jan vs selling calls exp in Jan. Right thing to do?

I sold December 290's just now for $10ish it gives $100 per week until expiration. I am happy with that.

 

[khill]

23x this week.

Do you still think we could see 23x this week or low 240s?

 

[SpeedyEddy]

spx already turning, being held up by Tesla,
I can tell you one thing: when this is all bottomed out it will jump springloaded, because of this kind of resilience above SPX. That is my only worry like at $102, you keep on looking down far too long. But OK, Volume will tell that story when it unfolds. For now, it looks like we have had the top already, even higher than we thought. As soon as we are returning to $250 I will also sell C250's. (forgot to tell you yesterday's results on riding the waves: enough to cover the $value-losses on long Palantir, Sofi, and the few Tesla LEAPs I still have. (Where the rise on my still held oktober P's on banks and Tesla played a roll too))

 

[Nocturnal]

I sold December 290's just now for $10ish it gives $100 per week until expiration. I am happy with that.

I was thinking I'd sell for an earnings expiry as I could see things rebounding in later Q4 but perhaps I'll do Dec as well. If we get a fast crash I can close and keep more premium, and if it doesn't then I have more time before they decay away.

 

[SpeedyEddy]

Here is the bear-flag-pattern again that we have been seeing a lot lately (Ceiling 253 and a bit, repeatedly hitting it from less distance down on every try, so the ceiling normally will win.)

 

[Jim Holder]

Respecting line so far:

 

[Knightshade]

Nice! I just picked up a bunch of p180s for 10/20 for 0.19 a pop. I wonder if I should do some further out as well.

Seems too close to ER if you're expecting that to be the drop point? At SP 230 it's still red a week from today (and a week before ER) and by the time of ER it'd need to be nearly ITM to be worth anything

In other news opened -C260 for Friday at $1.60 with this seeming the top, already 15% green in like 5 minutes (not that that means anything)

 

[SpeedyEddy]

mmm upside down H&S forming on the minute-chart? That would be strange and open a possible run into 255.50. Repositioning my day trades (scaling down -C's)
[EDIT] I guess: CANCELED OUT ALREADY! [/Edit]
[EDIT on EDIT] after all we go up indeed... happy to have closed a few with no loss.. the rest I will eventually roll)[/Edit on edit]

 

[Singuy]

Sold 2026 Jan leaps sp 400 @46 each. Excuted 93 contracts. 400 is the price I am okay if shares are called away. But if this thing drops to 200, then I'll close it in Jan.