Wiki Selling TSLA Options - Be the House

[bmd00]

Watch 2 levels: 181.06 and 175.01.

If we close any day below 181.06 but above 175.01, that'll be a signal to close shorts and ATM/ITM CCs. Otherwise, if we trade below 175.01, bears in full control. If we don't trade below 181.06, then watch momentum for exhaustion.

Thanks for the unbiased TA. Your analysis is extremely insightful. The high volume break yesterday seems like a good indicator of new lows to come, but still worth watching PA at 175.

 

[EnzoXYZ]

Wow sharp drop under $180. NOT looking good for some of my CSPs.

 

[SpeedyEddy]

NVDA will be the next one, possibly to break I guess. Looking to buy some march 22 puts $670. I must say that if NVDA will go that way I am seriously considering LEAP-ing these as well as $TSLA.

 

[juanmedina]

Apple is the $160's and Facebook is down. The end of times..... I have some $170 puts on Tesla and $780's on Nvidia.

I bought some $GLD

 

[BornToFly]

Troy's latest update to subscribers is grim indeed. Let's just say, Elon would be amused with the number.

China is up 9% compared to last year. I don't know Troy's number and don't care. I would like to circle back to Troys number a month from now to see how "accurate" he is....

 

[tivoboy]

Sold the 12x +p 3/15 $180 puts bought late feb (~.80) here at $6.25, 8x. Probably go slightly higher but at this point its a buck for a buck move higher not worth the rub.

 

[mongo]

China is up 9% compared to last year. I don't know Troy's number and don't care. I would like to circle back to Troys number a month from now....

What number is up 9%?
Combined retail and export is down 6% for Jan-Feb 24 vs 23, but March is important as the holiday recovery month.

 

[SpeedyEddy]

Berlin will be producing 6K less this month at least because of some fools in trees. What do they not understand about EV vs ICE?

 

[BornToFly]

What number is up 9%?
Combined retail and export is down 6% for Jan-Feb 24 vs 23, but March is important as the holiday recovery month.

Domestic sales

 

[Jim Holder]

Berlin will be producing 6K less this month at least because of some fools in trees. What do they not understand about EV vs ICE?

Puts on tinfoil hat:
Crowd funded by TSLQ, Legacy Auto, Big Oil, etc.

 

[Jim Holder]

Sold the 12x +p 3/15 $180 puts bought late feb (~.80) here at $6.25, 8x. Probably go slightly higher but at this point its a buck for a buck move higher not worth the rub.

Nice! Sticking to the DBG rule ;- )

Are you considering any new CC's or +P down here or wait and see? Market seems weak and teetering if bulls don't BTD we may have more to go.

 

[Jim Holder]

I guess big auto, who (you will not believe and YES: proven) sponsor environmentalists.

Good point, added Legacy Auto.

 

[EVNow]

What number is up 9%?

Q1 estimate for China compared to last year.

ps : In other news I've some 175 puts I sold yesterday morning .... which will likely go ITM this week. Sold only half the puts .... so should be able to rescue.

At this point, looks like its only a matter of time before SP drops below the 168 level Wicked Stock mentions as a pivot to downside.

 

[tivoboy]

Nice! Sticking to the DBG rule ;- )

Are you considering any new CC's or +P down here or wait and see? Market seems weak and teetering if bulls don't BTD we may have more to go.

I don’t add +P really in free fall, my position size isn’t large enough to pay too much in premium for protection. I’m looking at selling -cc $185-190 ranges for 3/15, and farther out against current position. Premium is weak though at this point.

I’m targeting $168-166 to start adding to the overall position expecting a breach of $165 but not a break BELOW $160. At that point, I’d be selling calls at $180-185 for May/June against the entire position much like pouring water out of a bucket.

It’ll all really depend on how the stock and MM react at $175.xx

 

[Max Plaid]

Wow STO -175c 3/8….. wow that cutting it close

These were100x -c185 that I rolled to Sep -c240 a while back and in buying the back I take back $7.3 profit per contract and give the chance to have the whole lot expire, and or be rolled-up from here

@Jim Holder - closed out my 20x Sep 2024 -p270's as there was less than $1 extrinsic, could have re-written for 2025 straddled with calls, but decided it was to much hassle and sold the June 2025 +p270's as well

One less thing to worry about and a a bit more cash in the account...

Also rolled 1x SMCI -p1000 to next week for net +$23

 

[Jim Holder]

@Jim Holder - closed out my 20x Sep 2024 -p270's as there was less than $1 extrinsic, could have re-written for 2025 straddled with calls, but decided it was to much hassle and sold the June 2025 +p270's as well

Thanks for letting me know. I rolled my 9/24 down to -P250 when we were at $200 area, so I have some extrinsic left ($2.60). Will keep an eye.

I’m currently flat -delta and I don’t like it. Will likely sell some August -C220’s or -C240’s and buy some May +P175’s into any bounce around $181-$184.

 

[SpeedyEddy]

Wycoff would suggest a lower low than 175 to chase out the last not-so-diamond-HODLers.
("Spring" in below image)

 

[Jim Holder]

RSI seems to be holding up and making higher lows than last time price was down here if I’m reading right. Perhaps a glimmer of hope

 

[SpeedyEddy]

If you add volume to the picture see this (evolved in time comparing to above one, so "spring" is now on the left above "low volume") and then compare to more compressed daily

mmmmmmmmm

 

[StarFoxisDown!]

RSI seems to be holding up and making higher lows than last time price was down here if I’m reading right. Perhaps a glimmer of hope

I still think Nasdaq has an 11% pullback ahead of it and the S&P a 6.7% pullback over the next 1-2 months so I'm positioning for a TSLA low of 146 during that 1-2 month period.

If it happens, I'll be able to increase my TSLA share count materially with little risk. If it doesn't happen, oh well