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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Nope - only applies if going to new ATH's....
Or maybe it doesn't apply since we already retraced that gap last week, or month.
Or maybe it doesn't apply because we are up a Giga Gordon today!
Super happy for the Tesla team and the people here for the expert tutelage!
My 01/21 ITM BPS I sold 2 weeks ago is already up to 55% profit (probably close today or tomorrow if we get it to 65%.
Sold Friday $1060 P's for 01/07 $40 each - closed for $4 this morning
Will be naked if I close out the -$1100/+$900's this morning
Cheers to the longs!
I'm out all positions this morning at 85-97% profit, now need to re-enter. Based on last week trading $1,050 to $1,020 seems like a good base for short leg. This would be for somewhat aggressive positions. Would love to hear others' reasoning.
Flehmenlips
Member
I bought 02/04 1100 call at market open today.
Thinking about selling a -c1200 for this friday expiry against it. If 1200 is breached, then I just close both, right? what am I missing?
@Lycanthrope @adiggs
Thinking about selling a -c1200 for this friday expiry against it. If 1200 is breached, then I just close both, right? what am I missing?
@Lycanthrope @adiggs
Mokuzai
Member
Sold these at $80. Nice start to the year!
Besides further gains if stock goes above 1200+premium? Nothing.
opened a single 1/14 1500/1600 BCS. My thinking is that I don't know how IV will change as the day progresses, and I'm too lazy to use a tracking spreadsheet, so will be watching this one to see how things progress.
BTC'd last week's BPS for an 85% profit, giving me room tomorrow to open more BPS in case of an MMD (mandatory morning dip).
BTC'd last week's BPS for an 85% profit, giving me room tomorrow to open more BPS in case of an MMD (mandatory morning dip).
Sold it. My first ever leap covered call, or poor man's covered call
Knightshade
Well-Known Member
Hrm, more capping than profit taking today than I expected- 1/7 BPS at -1100/-1000 getting ~$7.50 presently.... slightly safer -1100/-900 at ~$8.10..... too close to the sun?
Same here. I’m actually amazed that this finally worked for me. The setup was pretty obvious, but when everyone expects something, it usually bites us in the butt. So, I bought a bunch of c1145s $9.85-$11.20 and sold this AM $37-$45. I’ve still got two left in case we keep climbing. Damn, wish that I had bought 10x.
corduroy
Active Member
Personally, I wouldn't consider opening BPS on at 10%+ up day. I'm following the rule of only selling into strength this year.
pz1975
Active Member
I sold (then ITM) $1,100/900 BPS last week and they are doing very well obviously. I think the SP will end up higher after ER so today I sold some 1,200/900 BPS expiring Feb 4. This is a new strategy for me with the short put being ITM. $9,700 for each one and breakeven SP is $1,103. I like those odds.
5x Jan7 1300/1400bcs were looking interesting and far enough for now for -2,8.
I am thinking about closing my jan7 1045/870bps since they're close to the premium anyway. I'd be leaving 200 on the table, but I'd be able to build another bps for jan14. for 1100/950 or so.
I am thinking about closing my jan7 1045/870bps since they're close to the premium anyway. I'd be leaving 200 on the table, but I'd be able to build another bps for jan14. for 1100/950 or so.
That 1500 feels safe.
I sold 10 x c1480 1/14 for $3.00 a few hours ago when we reached 1172. I like to sell into strength and a 300+ point buffer feels good after +110 point rise.
But we might be up for the next three weeks....
This is where knowing the company and the stock can make you money. I'm being a little more aggressive before the ER, and will change strategy after. That being said, I have not rolled all my BPS to 1/14 yet. Did about half. Will dollar cost average in the next few days (in case I'm wrong and the same contracts are worth more on another day), but I'm probably leaving money on the table by not going all in today (even though it is a big Green Day).
I have one c1145 left and a c1045. For real what a start to the year. I closed all my BPS and I am very tempted to open CC's... maybe something like a $1350-1300 strike for Friday but I might wait until tomorrow.
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bkp_duke
Well-Known Member
Close out all 1/7 BPS today (890/940 up through 910/960)
Re-opened on a small dip 1/14 ranging from 960/1010 to 980/1030
Not advice, but I'm seeing what @BornToFly sees, that 1000 looks to be strong support now after the amazing P&D report.
Re-opened on a small dip 1/14 ranging from 960/1010 to 980/1030
Not advice, but I'm seeing what @BornToFly sees, that 1000 looks to be strong support now after the amazing P&D report.
Closed these out this morning. I'll wait and watch for a good opportunity to start another BPS position.Sold three BPS Jan 7 p1000/-p950 for a credit of $7.50 each. I'm betting the China sales numbers and P&D numbers coming out on Sunday are going to create a worst-case scenario of breakeven SP. I blame lack of volume for weakness yesterday and today. I think it's going to be difficult to hold down the SP next week as volume picks up.
EDIT: PSA, I typically have horrible timing (which is one reason I mainly stick to buying and HODLing), so this may be a good contrarian indicator for smart traders to go short.
Still holding my 1/21 BPS p1050/-p900 as there is still good time premium and I'm feeling confident about the SP not dropping that low.
I see the benefit of writing weeklies versus 3 week expirations. I'll target those more going forward.
Also sold five 1/7 LCC 1350 this morning for $2.06. Thank you all for opening my eyes to the world of LCCs; I love this play! I will keep it very conservative; my plan is to target weekly 15-20% OTM CCs for ~$2 on a fraction of my shares/leaps.
TheTalkingMule
Distributed Energy Enthusiast
Sold minimal 1/14 BPS in the morning dip(?) for reasonable premium, now sitting on hands waiting to sell $1250CC for 1/14. Targeting $42, and then double down at $55 if we move higher.
I'm leaning toward selling about half my shares in this 4Q earning and Austin/Berlin window since we'll probably touch at least $1300 at some point. Will continue to sell aggressive CCs weekly and once they execute deploy the cash on conservative weekly BPS from April onward. Move back into shares if we revisit $900 on a macro crash.
I'm leaning toward selling about half my shares in this 4Q earning and Austin/Berlin window since we'll probably touch at least $1300 at some point. Will continue to sell aggressive CCs weekly and once they execute deploy the cash on conservative weekly BPS from April onward. Move back into shares if we revisit $900 on a macro crash.
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