Wiki Selling TSLA Options - Be the House

[Xepa777]

Just don't try to pick up pennies before a steamroller for too long ....

I've been in this thread through all its phases. From all the people here doing "The Wheel" to selling covered calls, to selling BPS, to whatever 8-month out positions they have now because they got burned one way or another.

And through the phases of people talking about making spare change for retirement expenses to aiming for 1% a week and then to whatever max pain numbers are.

I'm doing better than most here because I know my risk tolerance, and embrace acceptable outcomes going into every trade.

 

[elasalle]

Some more 1070 CC's @ 0.97 ... 4 days to go.
delta - . 03 , probability of touching 5%

buying few shares here and there with the pennies as we go ...

 

[phantasms]

I'm underwater but just rolled my 940 for this week to 950 since it appears there may be some defense there. Cost $500 to take a little stress off.....for now.

Still hoping for some red to deal with my 935 and 950 for next week. lol sigh.

 

[wooter]

I'd say wait until tomorrow at least. Perhaps the first Berlin deliveries tomorrow will be the sell the news event?

I have to take the opposite on this - starting the deliveries actually forces the market to add the production of Berlin (not TX yet) to their spreadsheets.
They will base it on the China ramp (which Berlin should be faster) and use those numbers in their 2022 and forward production.
So, I personally do not see a sell the news but YMMV

Sell the news, right...

Now, assuming we won't break 950 by Friday, I better roll to 950/1000bcs around now, instead of waiting until we cool down at 930.

Rolling to 900/850bps is not cheap either. Bps only get interesting for like 1000/950.

 

[vikings123]

Sell the news, right...

Now, assuming we won't break 950 by Friday, I better roll to 950/1000bcs around now, instead of waiting until we cool down at 930.

Rolling to 900/850bps is not cheap either. Bps only get interesting for like 1000/950.

Blame it on GLJ . I don't think we have ever had a down day when that clown makes a CNBC appearance.

 

[intelligator]

Held on too long before moving out of 3/25 815 CC , bit the bullet and went to Jan '24 1700s for a credit. Surprised that I didn't get shares called away yesterday or today... hmmm.

 

[wooter]

To put things in perspective: we've hit 755 and since then we've finished 5 consecutive days in green. Today would be day 6.

 

[juanmedina]

wow just wow. Now the 1200cc 12/16 Leaps that I sold are $4k down a piece .... great timing again. I am looking forward to being 100% cash by the end of the year and retire .

 

[phantasms]

Ouch. lol

Welp, I merged my two calls for next week and threw it down to 6/17 @ $1000. Ideally, I'll BTC if there's ever a red day. Still holding my 950 for this week...might roll to 980 next week. If I can manage to get out of this 950 I'll be in good shape as I was looking to shave some more at 1000. Of course, if it's $1,400 in a couple months I'll be singing a different tune than "this is fine".

I've got to imagine there will be some profit taking later this week.

 

[TheTalkingMule]

Sold $1005 CC 20 minutes ago @ $7.75, it's now at $13+. I'm amazing at this!

Guess I'll roll a week if needed. Still think we don't close over 1000 this week.

 

[vikings123]

wow just wow. Now the 1200cc 12/16 Leaps that I sold are $4k down a piece .... great timing again. I am looking forward to being 100% cash by the end of the year and retire .

yep this is an insane rally given all the "uncertainty" with macros and war. "Picking up pennies in front of a steamroller" has never been more true.

I should really be selling more calls but given the hole I have dug for myself I'm just trimming some short positions for now.

 

[adiggs]

I've got to imagine there will be some profit taking later this week.

I'll be in the profit taking camp no later than early / mid April


My own view on this is that we're still a week and a half from the P/D numbers. I think that a replay of Q1 is not unreasonable, by which I mean a big spike the day after, and then regression after that. Heck - the quarterly report later in the month didn't really move the needle then. I think the big surprise will come from the P/D.

I'll have a quick finger on the trigger the day after P/D. If we have another $100 spike upwards, something I consider very much a possibility, then I'm probably making all of my programmed April sales right then and there. Especially if we see the 1100s+ the day after P/D.

Also related to this - I don't think it'll take all that long after the April financial news for the Macro Story (inflation, interest rates mostly) taking back over from the Tesla Story. This -could- be the next big ATH break out - I tend to think we'll need more than 1 or 2 quarters of great financials to get investors on board with the idea that Tesla is about as immune to inflation and rising interest rates as anything in the market.

 

[juanmedina]

yep this is an insane rally given all the "uncertainty" with macros and war. "Picking up pennies in front of a steamroller" has never been more true.

I should really be selling more calls but given the hole I have dug for myself I'm just trimming some short positions for now.

I have been selling my long call options that were really under water and closing some of my BPS that I have been rolling for some time so not everything is awful.

 

[traxila]

For May 20 2022 I started with the 1350s and have gone up all the way to 1900 CCs.

1350 for May? .... possibly. Should be no problem to roll that if desperate. 1600, 1700, 1800, 1850 and 1900 for May? What are people thinking?

I am underwater on all of them

Well, all my sold puts are doing great!

 

[ReddyLeaf]

Out walking with the phone, so can’t trade and happy about that. Last week was a disaster for me, buying and selling at the exact wrong time. My puts love it and very few CCs outstanding. Maybe sell 1005s 1205s tomorrow? Edit: wow, just looked again. Maybe 1205s are still too low.

Edit: Back from lunch and sold -c1110s at $2.90 & -c1120s at $2.50 just after the pullback from $996. I will actually be happy if I’m forced to roll these.

 

[traxila]

Just sold May 22 2000s CC for 1.05 a piece. Market makers, right? Retail is not buying this.

Are they?

Yes I am underwater.

Should have waited for 1000.

 

[Drezil]

Note: we had a big call-wall at 950 and the biggest wall was 1000. This should lead to a gamme-sqeeze-szenario if we don't cool off. And i guess at the latest tomorrow we will cool off (unless the market makes another +2% acrosse the board).

Rolled my -c950 as soon as we broke 950 to 4/8 1015. They more under water now, but were backed by 850c (now 900c as i switched assignments on my spreads to take profits early).

Still sweating a bit about the -1005c (opened @2.54, currently 22$), but they are now backed by some 980c i rolled into position. Effective max-loss on that position is ~6500$, max-gain is ~8300$, but theta is nearly balanced & i already pulled out ~12k if you consider all rolls. So i just let them run. If we go up i take max-gain, if we go down i close the short side & roll the long out a few weeks (i.e. 22/4 after earnings) & down to position myself for the next rise.

 

[FS_FRA]

Considering what to do with my -935CC for this week....? Roll 1 week or two for max strike improvement and min credit? Or wait until tomorrow to see where we go?

EDIT: For now moved to 4/1 -945 ...deal with this another day.

 

[Drezil]

Considering what to do with my -935 for this week....? Roll 1 week or two for max strike improvement and min credit? Or wait until tomorrow to see where we go?

depends. If i am right and most buying is gamma-squeeze we should see a correction tomorrow. If not .. well... are you losing shares? LEAPs? Take the cash-loss & hope the other positions not closed with it make up for it?

 

[Cherry Wine]

I'd feel pretty good about $990 next week.