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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
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The thing I'm looking for to confirm this scenario is a big but undecisive bounce. Below 237 I'm not gonna call it yet. But if it gets over 237, I will load more puts at 241.3. All it needs to prove me wrong is trade above 244. Come on.
thenewguy1979
"The" Dog
too many people too drunk to trade today. May not have your answer till Monday ....so far it's flat today with some minor back and forth
SpeedyEddy
Active Member
chickened out just in time at a nice 203 dollar gain (for 10 contracts) -nice dinner money yet- Oooh do I like these trades (premium could have gone up in smoke however, not bet for the faint of heart.. )
[Edit] and took 2x C 237.50 for a nice big dessert as well and closed that just now for another $52, maybe again buy a few P 235 [/edit]
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For those of us still with longs I guess that means we may have another chance to get out at $241.30 if it touches that, and get back in if it holds above $244?
jeewee3000
Active Member
Do I understand correctly that:
- going over 237 now would mean we are in wave 2 (rise) after the wave 1 drop from 244 to 231.4. Meaning that wave 3 that would follow - a more severe drop than wave 1.
- going over 244 would take out the high of wave 1, meaning it cannot be wave 2 and therefore invalidating this scenario of wave pattern.
EDIT: question: IF my understanding is correct, how do you determine the 237 value needed at minimum to bounce to (to prove a wave 2)?
I already know the answer and you've been warned. I said the same thing on October 17th. "Please don't bounce too hard. The harder you bounce, the harder you'll fall", and look what it did. I'm getting the same vibe here.
Awesome! Yes. Someone speaking my language.
If it gets above 237 you'll have a chance, but this is talk in circle. Of course if it cant trade above 237 you'll have no chance at 241.
Agree, looking for an early week bump for 8Dec strikes.
Conventionally we are told if a stock holds/closes over the 50-day (for us ~$237) it should run considerably higher, do the waves say differently?
Just trying to learn the nuances.
Brought in around $80k between Sept-Nov mainly from scalping short calls. Mostly selling and closing them at various points during yo-yo price movement, of which TSLA had many the past 6-8 weeks starting day up and then fading rest of day. Some weeks was able to do 2-3 roundtrips on the same contracts. As much as possible I try to only sell for the coming week above the tallest call wall since I found when I try to guess and go 2-3 weeks out during twilight periods like where we are now I can get stuck and need to roll up and out.
BTC 50x 11/24 -p230 @5c, just to get rod of them
Still have 50x -c230 in play for today, which were hedging the puts, will see if we some dip
Edit: STO 100x 12/1 -c250 @$2.1
Still have 50x -c230 in play for today, which were hedging the puts, will see if we some dip
Edit: STO 100x 12/1 -c250 @$2.1
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