Wiki Selling TSLA Options - Be the House

[Yoona]

@Yoona

I forgot what you taught us earlier, does the A usually imply bought and B sold?
These are some major $$$ on Puts for June 21. I've seen many like these hit over the past several days. If some HF knows the vote or knows that it won't matter, may be loading up for a massive rally or the converse?


View attachment 1047824

if you are not sure, just look at "put bullish" = this means you are bullish on put = this means you sold a put = -p

so that means the B is a sell (sold put)

that being said, strikes that are too far OTM are hard to guess on sentiment (they are probably hedges instead of bets)

here's another drawing you NEED to bookmark: be on the lookout on those 4 corners (if they are massive it means extreme bullish or extreme bearish)

 

[Jim Holder]

TD/SCHWAB TRANSFER UPDATE

FWIW coming from years of happy experience with the TD Ameritrade iOS mobile app as my main trading axe when away from the desk, I've been enjoying the TOS mobile app which Schwab thankfully kept once the TD mobile app was shut down. Took some time to get oriented, but after a few days now of use and placing orders, etc, and tinkering with the settings, plus desktop TOS functioning the same as before (pleasant surprise!) I am feeling better about the transition.

I just wish the mobile TOS gets larger and bolder fonts as an option!
(@tivoboy you said you know someone? )

 

[dl003]

Completely agree. Looking at both the daily and weekly charts, if concerned about downside, then focus on protecting capital if price drops below $168.. as the daily and weekly Bollinger bands have room to the mid-140’s. But until $168 is given up, shorter term risk is to the upside. For this reason as well, I am currently being very careful with CC’s, only selling for the current week and will be looking to avoid overnight risk, seeking to sell morning rallies at conservative strikes and cover by EOD if possible

Yes. TSLA has done 2 retracement steps:
Big one from 199 to 167
Small one from 180 to 171
The end of this consolidation phase is approaching. Regardless of whether you're bullish / bearish, it's not a good time to sell volatility, but to buy it. So buy put spreads if you want to hedge. My bias is up.

On the downside, you have a very well define pivot level. 167-168. If it breaks this, then cut your short puts. On the upside, I want to see the next spike playing out first before having a game plan.

 

[Jim Holder]

Pleasant Gamma shift appeared, with no MM obstacle to head to $180 tomorrow if market wishes:

White is SPOT

Spot GEX Bars
GEX bars are not predictive of targets, but of dealer support fueling momentum as trading moves toward them

Green bars above spot= Fuels bullish momentum, the larger the bar the stronger the effect
Red bars below spot= Fuels bearish momentum, the larger the bar the stronger the effect

Green bars below spot= Support/pinning
Red bars above spot= Resistance/pinning

Small/no Gamma bars=illiquid zone/prices can move faster inside them

 

[Yoona]

vanna too red, stock will probably fall soon

View attachment 1047444

SMCI falls like a rock = vanna prediction

the closer we are to OpEx (tomorrow), the more powerful this greek is because stocks are more volatile (higher IV) and vanna reacts to IV changes

 

[juanmedina]

@dl003 do you still have the 162.5/160 put spreads?

 

[CHGolferJim]

Added a small buy-write: 200 at $174.11 + sto 2 x 24May$175 at $4.08

 

[dl003]

@dl003 do you still have the 162.5/160 put spreads?

I bought a few as hedges. Still have them.

 

[thenewguy1979]

Yes. TSLA has done 2 retracement steps:
Big one from 199 to 167
Small one from 180 to 171
The end of this consolidation phase is approaching. Regardless of whether you're bullish / bearish, it's not a good time to sell volatility, but to buy it. So buy put spreads if you want to hedge. My bias is up.

On the downside, you have a very well define pivot level. 167-168. If it breaks this, then cut your short puts. On the upside, I want to see the next spike playing out first before having a game plan.

I just bought a boatload of 185C exp 5/31. Good play?

 

[Jim Holder]

TSLA 5/17:

Gamma: If SP reaches tall bar it might hover below OR above (because it is a magnet), unless there is a tall wall or cluster somewhere else

Vanna: If SP reaches tall bar it might be "capped" at or below it, unless there is a cluster somewhere else.
Note: Vanna can't tell direction, it only gives approximate range if market is not volatile. Since Vanna detects change in volatility, it is strongest on the last 2 weeks of OpEx (wild "vixpiration") and not as useful when market is calm or sideways. (Credit: @Yoona)

 

[dl003]

I just bought a boatload of 185C exp 5/31. Good play?

I'm not buying calls, except buying back my short calls, so can't comment.

 

[Jim Holder]

Regarding Elon/Tesla surprise announcing well before the June 13 event that they have the votes, I don’t think they will/can. Since shareholders have until June 12 @ 12 PM to vote, that can be considered meddling/influencing and opposing counsel will be all over it.

But maybe dropping hints…hmmmm.

 

[elasalle]

Regarding Elon/Tesla surprise announcing well before the June 13 event that they have the votes, I don’t think they will/can. Since shareholders have until June 12 @ 12 PM to vote, that can be considered meddling/influencing and opposing counsel will be all over it.

But maybe dropping hints…hmmmm.

Do they want another lawsuit from someone with just 4 votes BoD and Elon must put on a show and advertise till last day of votes - even if the votes are in the bag.

But Elon might be sketching up the next meme for wild speculation of what it means

 

[Jim Holder]

Do they want another lawsuit from someone with just 4 votes

Lol. 1 share!

If Elon wasn’t impulsive we wouldn’t have to worry.

 

[Max Plaid]

STO 100x 5/24 -p170 @$2.1

Still 100x -c180 to sort out or let expire, will see tomorrow... chance to widen the spread to -c185 would be welcome, looking for similar premium on the call side

 

[Max Plaid]

I think all Elon's "thank you" posts are just for the past vote and those that voted "yes" this time around

In any case, it's purely symbolic, no? Essentially it's a vote of confidence in Musk, won't change anything with the Delaware judgement AFAIK

 

[Jim Holder]

I think all Elon's "thank you" posts are just for the past vote and those that voted "yes" this time around

In any case, it's purely symbolic, no? Essentially it's a vote of confidence in Musk, won't change anything with the Delaware judgement AFAIK

Unable to get a clear answer. Some say a YES vote is meant to be used in the appeals, and some say a NO vote will be used by the other side in appeals.

One thing we could be sure of is the bears stoking and exploiting fear over it for their benefit even if it isn’t truly material one way or the other.

Would be great if an attorney can chime in on the relevance of the vote.

 

[thenewguy1979]

OK Guys. I just bought a boatload of Calls. Since everyone and their mom were Bearish, I went ahead and test my luck this times going the opposite way.
Got to admit should have waited for the green light from the big guy(s) but it is what it is.

Been a fun journey and made some nice friends along the ways. If the SP drop from here and you don't hear from me after 5/31 just know I'm back safe and sound working at Wendy. I'm too gassy for Taco Bell. My boatload of Calls can also rest in peace knowing it has sacrificed itself for my Call Seller Pals out there.

Adios Amigos and Yoona please call me if you are in need to adopt a cute little dog

Loves,
the Dog

 

[WattsHappening]

OK Guys. I just bought a boatload of Calls. Since everyone and their mom were Bearish, I went ahead and test my luck this times going the opposite way.
Got to admit should have waited for the green light from the big guy(s) but it is what it is.

Been a fun journey and made some nice friends along the ways. If the SP drop from here and you don't hear from me after 5/31 just know I'm back safe and sound working at Wendy. I'm too gassy for Taco Bell. My boatload of Calls can also rest in peace knowing it has sacrificed itself for my Call Seller Pals out there.

Adios Amigos and Yoona please call me if you are in need to adopt a cute little dog

Loves,
the Dog

Good luck.

Many of us here wouldn't mind being adopted by @Yoona, but I believe she is more of a Goldendoodle type of gal.

 

[Yoona]

Good luck.

Many of us here wouldn't mind being adopted by @Yoona, but I believe she is more of a Goldendoodle type of gal.

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