Wiki Selling TSLA Options - Be the House

[BornToFly]

250/255 P that way DITM. JuanMedina got his assigned yesterday for his $255 and 252.5 puts. That was before this morning dump.

Yes, but that was 2DTE.

 

[Jim Holder]

I have 300k in CASH.TO waiting for TSLA to drop to $110. I promise I am ready if TSLa drops below 217

What if it doesn't? If it were me I'd buy in thirds at each level in case the next down one doesn't come. And sell puts for the lowest strike you expect so at least you keep the premium if it doesn't hit. NFA of course.

 

[Yoona]

nasty day...

quick 930 MMD right out of the gate set the tone

 

[BornToFly]

I rolled next weeks 255 Puts to Jan 2025 250P for $17.85 Credit.
Holding the 250Ps until Tuesday and hoping I don't get assigned before then.

 

[Jim Holder]

nasty day...

quick 930 MMD right out of the gate set the tone
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Are you still thinking more pain down to $200 next week?

 

[Yoona]

Are you still thinking more pain down to $200 next week?

options chain right now is saying 205ish

 

[Jim Holder]

options chain right now is saying 205ish

I see that. I’m asking if you feel it will drop there based on your experience? I’m trying to decide how to enter the weekend position-wise.

 

[BornToFly]

Big Algo divergence going into the close. Algo says Bullish option action....?

 

[Jim Holder]

Big Algo divergence going into the close. Algo says Bullish option action....?
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It’s been inaccurate lately though it’s nice to see that regardless! Let’s see what happens.

 

[Yoona]

I see that. I’m asking if you feel it will drop there based on your experience?

nothing surprises me, we surpassed 1σ this week so it could(?) happen again

 

[Jim Holder]

https://twitter.com/x/status/1745898929802129691

https://twitter.com/x/status/1745897928705683625

 

[BornToFly]

Closed my 215 Puts for today for 0.03 in case we drop AH

 

[Yoona]

the last time TSLA was below all the major MA lines, it stayed under only 1-3 days at the most

 

[elasalle]

So may be more downside till next week Option Expiration and the trend slightly up into earnings for a wait and see ...
but then MM are a few steps ahead ...

.. days like this lot of planning goes out the window ...

 

[Max Plaid]

I have 250 and 255 strike Puts for next week with very little Extrinsic left. I would think there should be enough to protect me until at least Tuesday, but with the Bid/Ask spread, I can't tell. Thoughts?

Extrinsic is basically zero on those so it's a real risk some of them get assigned - are they cash-covered?

 

[Jim Holder]

STO -C350 1/17/25 @12.00 and -C330 1/17/25 @14.80 on 20% of my longs as a hedge in case the market and then TSLA drops further next week or after Tesla’s ER. If I get trapped then I’ll just ride it out.

 

[Yoona]

looking ahead the next 2 weeks, possible 200 at the lowest

 

[Musskiah]

The daily RSI is coming into deeply oversold territory.

1. jan 19 maxpain is 220 as of yesterday evening (and can not have changed since then)
2. What you state is (roughly) my MA4x Theory on MA 20,50, 200, 365, that were most narrow dec 14 2023, marking the starting point of a big chance of a minimum 25% move within 3 months, so up to 269 or down to 202
see Wiki Selling TSLA Options - Be the House for using MA4X as an acronym for the theory explained here:
#34,720

Thank you! I just read post #34,720 . Sorry to be redundant, I didn't catch this earlier. This is exactly what I grok. To be honest, my TA and options analysis skills don't hold a candle to most of you (which is why I mainly lurk and dont post on this thread often). I ultimately defer to (and am extremely grateful for) the wisdom you all share.

 

[BornToFly]

Extrinsic is basically zero on those so it's a real risk some of them get assigned - are they cash-covered?

They are, but I would like to keep the cash available. If the 250P get assigned, I will sell the shares and write 250P for Jan 2025

 

[elasalle]

options chain right now is saying 205ish
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Still selling Short PUT spreads at .1 delta?
I'm assuming short Call spreads are out of the question right now?