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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
For those using TradingView - did you find any basic education info on using the tool / site / charts itself, and if so would you point me to that? I've got a trivial chart setup, mostly so I see the momentary TSLA trade price in a tab in my browser, but am stuck on really making use of the tool.
I've got really basic stuff I'm trying to figure out - like drawing my own additions on the chart and having that stay there as the days roll by and new information arrives (or do I need to make a static chart whenever I draw on it, and then compare the series of static charts over time and as I make updates?). Adding Fibonnaci retrace / extension / etc.. to the chart?
Project my own additions / MA / ?? into the future, so I can get an idea of where those extensions land at some point in the future.
And I don't know what else - but like I said, what seems like basics for using the tool, rather than any particular trading plan / strategy.
I've looked around on their site for this kind of info, but all I'm really finding is trading strategy and plan type of info - what to do with one's fancy charts after they're built, and not the basic mechanics of using the charting software in the first place.
Thanks!
EDIT to add: I bet the Desktop app is better than the browser app
. I've had a subscription for over a year, and just this moment discovered that there even IS a desktop app. As you can see I am in desperate need of very basics education. Not looking for anybody to be a teacher, but a couple moments of your time pointing me towards that basics education would be a HUGE boon to me.
I've got really basic stuff I'm trying to figure out - like drawing my own additions on the chart and having that stay there as the days roll by and new information arrives (or do I need to make a static chart whenever I draw on it, and then compare the series of static charts over time and as I make updates?). Adding Fibonnaci retrace / extension / etc.. to the chart?
Project my own additions / MA / ?? into the future, so I can get an idea of where those extensions land at some point in the future.
And I don't know what else - but like I said, what seems like basics for using the tool, rather than any particular trading plan / strategy.
I've looked around on their site for this kind of info, but all I'm really finding is trading strategy and plan type of info - what to do with one's fancy charts after they're built, and not the basic mechanics of using the charting software in the first place.
Thanks!
EDIT to add: I bet the Desktop app is better than the browser app
. I've had a subscription for over a year, and just this moment discovered that there even IS a desktop app. As you can see I am in desperate need of very basics education. Not looking for anybody to be a teacher, but a couple moments of your time pointing me towards that basics education would be a HUGE boon to me.
Keep in mind that things like that probability calculator represent the chance that the market is pricing in for that event to occur, not some kind of external / absolute probability.
In a weird bit of reverse psychology, and to take advantage of just how consistently wrong I've been for awhile now, I decided to try something out.
I just went and figured out what cash secured put position I would open earlier this morning - position size, strike, expiration. And then instead of selling that position, I bought it. So I just added +p180 for next week expiration, and so far ahead 25%. My hope / intent with this position, which at this point is in the "try something out and see how the type of trade works for me", is to otherwise approach it they way I approach other positions, looking for a desirable and aggressive early close.
My version of an early close is still best measured at a daily scale (I'm way short of making day trades on a routine basis), but I'm wanting to see if that different mind set actually works out for me.
EDIT to add: I did this with a put position instead of call as I've got a much stronger bias towards down than up.
After all - if I can be wrong consistently enough, then that is tradeable! Really, really not advice!
I just went and figured out what cash secured put position I would open earlier this morning - position size, strike, expiration. And then instead of selling that position, I bought it. So I just added +p180 for next week expiration, and so far ahead 25%. My hope / intent with this position, which at this point is in the "try something out and see how the type of trade works for me", is to otherwise approach it they way I approach other positions, looking for a desirable and aggressive early close.
My version of an early close is still best measured at a daily scale (I'm way short of making day trades on a routine basis), but I'm wanting to see if that different mind set actually works out for me.
EDIT to add: I did this with a put position instead of call as I've got a much stronger bias towards down than up.
After all - if I can be wrong consistently enough, then that is tradeable! Really, really not advice!
There's a ton of new functionality in V12 of FSD in addition to it just performing all of the existing functionality much better. I'm quite surprised by the leap I'm seeing. Is it perfect? Not at all. But the leap from latest V11 to V12 and rate of release updates(Elon already mentioned there's a 12.3 coming quite soon) is quite bullish.
V12 is the one thing that makes me quite unsure of how I play options during the middle and 2nd half of this year. The Chatgp moment could happen this year for the stock and I would sure like to have exited my CC positions before that happens.
I track FSD progress like a hawk nowadays because it's the only thing that I think would really change the trajectory for TSLA for 2024. I don't think auto sales, Cybertruck are going to cause it. And the Shanghai Megapck factory opening up a quarter late kinda pushes off Energy making a big impact in the 2nd half of 2024.
I had sold 50X July 250 strike CCs this morning for $8.4. Bought to close recently at $7.96 for a nice little scalp. 60 seconds after doing so we get a massive red candle and the SP drops almost $2. I swear I move the markets (in a bad way).
I have the same problem, I need to become more disciplined & use layering in/out
SpeedyEddy
Active Member
And the last SMCI round for me today is opened BTO SMCI C660@ $82.07.
TSLA bouncing from 192 is a bit early, but would set a higher bottom. Let's see how it reacts to FOMC minutes in 43 minutes.
TSLA bouncing from 192 is a bit early, but would set a higher bottom. Let's see how it reacts to FOMC minutes in 43 minutes.
Assuming that C660 is for this Friday, you anticipating SMCI to go up?
Definite upside expectation, probably 220+. Interested parties bought whatever was cheap or economical. I dont see this type of structured options as walls. TWT.
SpeedyEddy
Active Member
Yes, but day trading as stated the days before. Quite profitable I might add. No loss yet on SMCI trades (, so this will be the first one for being so arrogant, for sure, although higher bottoms, higher highs on the minute suggest otherwise)
Dealer deltas receding, if it continues to recede it's usually an early bearish warning:
Yes, but look down below at the $150-$160 put population. What do you think that's about?
3/1 is also interestingly very green, less red below:
Interesting dynamics with long calls. At that strike for this Friday, you can +/- 10% for each +/- $10 is SP....
Long Call | OptionStrat Options Profit Calculator
Calculate potential profit, max loss, chance of profit, and more for long call options and over 50 more strategies.
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SpeedyEddy
Active Member
As I am positive on NVDA ER I took advantage of the drop and closed my -C1300 jan '23 for a $0.20 profit only, because I don't like the risk of waiting long to close on a profit.( Did not think it would be so much under stress, so there could be a huge pop tonight AH especially after this sell-off, today.
(Maybe I will buy a cheap call for next week or so, if available, but IV will be sky high for that I guess)
(Maybe I will buy a cheap call for next week or so, if available, but IV will be sky high for that I guess)
Last edited:
For those using TradingView - did you find any basic education info on using the tool / site / charts itself, and if so would you point me to that? I've got a trivial chart setup, mostly so I see the momentary TSLA trade price in a tab in my browser, but am stuck on really making use of the tool.
I've got really basic stuff I'm trying to figure out - like drawing my own additions on the chart and having that stay there as the days roll by and new information arrives (or do I need to make a static chart whenever I draw on it, and then compare the series of static charts over time and as I make updates?). Adding Fibonnaci retrace / extension / etc.. to the chart?
Project my own additions / MA / ?? into the future, so I can get an idea of where those extensions land at some point in the future.
And I don't know what else - but like I said, what seems like basics for using the tool, rather than any particular trading plan / strategy.
I've looked around on their site for this kind of info, but all I'm really finding is trading strategy and plan type of info - what to do with one's fancy charts after they're built, and not the basic mechanics of using the charting software in the first place.
Thanks!
EDIT to add: I bet the Desktop app is better than the browser app
The desktop app is the way to go. Tons better.
SpeedyEddy
Active Member
No, I take "small" gains on pivoting points if it does not really run, like now it doesn't, so closed it again, this time wit $3 profit. (But all in all I got +$13 a piece today. Try to make that on $TSLA with these weird unpredictable moves. No can do!)Interesting dynamics with long calls. At that strike for this Friday, you can +/- 10% for each +/- $10 is SP....
Long Call | OptionStrat Options Profit Calculator
Calculate potential profit, max loss, chance of profit, and more for long call options and over 50 more strategies.
With this morning’s steep rise, sold a more cautious strike — 1Mar$215 CC at $1.39 (10% OTM). Left 11 available contracts unsold to help rescue 1Mar$205, if needed.
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