Wiki Selling TSLA Options - Be the House

[Max Plaid]

STO 15x 3/3 -c200 @$11.3

Edit: sorry 3/3, not 3/4... and yes, I could have closed these out already for +$3.6, but holding them as a hedge for this week's -p200's

 

[john tanglewoo]

Sold 4 batches of calls yesterday as the stock price was rising, first time I've sold calls in months.....but to see the stock go up another 20% by mid-March would be the largest gain in its history, so I took the chance. Those calls are up 50% today but I'm going to hold them for longer.

25x -c245 March 10 @ 4.70
25x -c245 March 10 @ 5.75
20x -c245 March 10 @ 6.15
13x -c245 March 10 @ 7.00

Got the 7 as stock price was cresting 211. Will update when these are managed.

Closed all of these today at 1.7 for a tidy 70% profit average

 

[intelligator]

gamma went from neutral yesterday close to positive. OI doubled notably at 210, 180 and 190 increased as well. Looks like 190 and 210 are the support and resistance lines for the week, as of now. Considering another spread, 2/24 BPS -182.50/+172.50 for 1.25 ... but already have one at -187.5/+177.5 that I may have to roll , maybe not.

 

[SpeedyEddy]

Totally missed out on this dip, saw it rising @ opening, did not pay attention for half an hour, counting on +$210 to follow.
So now just waiting around $192/1933, rise should follow soon or after 14:00 hours..... If neither then I will be in doubt to sell with a loss surviving the dip empty-handed or -cc at least.

 

[SebastienBonny]

Closed 225CC for Friday @0.20.
Sold this last Friday for 1.50 so couldn’t be better.
Could let in run, but last week teached me to take profit when you can (reason 1) and free those shares to take new opportunities when they come (reason 2).

Hopefully we’ll see a bounce somewhere this week to take profit of higher IV for next week.
240 is my safe zone so I’ll take 1.50-2 premium for next week.

 

[jw934]

This looks like capsulation to me. STO CSP 15x192.5 Put expiring this Friday. Limit order at $4.90 but filling at $4.97. Got lucky on the timing.
Aiming to close the position today to reduce risk as I will need that cash sometime this year or next.

 

[dl003]

Last update before close:

I still think we'll have another leg up to hit 210+ this week. However, apparently 200 is no longer the intraday bottom. Since the first leg of the bounce is still best counted as a 5 wave sequence, 197.5 most likely will be the bottom, reached early tomorrow morning before a big bounce to 210+.

192.5P is a bit too close for my taste for holding overnight, especially since we're not bouncing today yet. Rolled them to 177.5P 3/3 for 0.4 credit. Pretty good I must say.

View attachment 909774

I made a mistake here, trying to count the runup from 197 to 210. Wave sequences at this small of a degree are unreliable. Will post updated chart in a bit. Still targeting 207+ for the rebound.

 

[Jim Holder]

I followed @dl003’s theme and STO 15x CSPs for 3/3 (9 days out). 10x @ $177.50 and 5x @ $175, for $3.27 and $3.80 respectively. Hopefully we don’t get that low in 9 days, especially with Investors day next Wednesday.

 

[dl003]

This looks like capsulation to me. STO CSP 15x192.5 Put expiring this Friday. Limit order at $4.90 but filling at $4.97. Got lucky on the timing.
Aiming to close the position today to reduce risk as I will need that cash sometime this year or next.

View attachment 910051

This coincided with call IV crush. MMs must have unloaded a bunch of hedges as people took profit on their calls. This will reduce gamma exposure on MM's part which weakens the upward momentum going forward, if there's any. However, the good news is the more calls are taken profit on, the closer we are to the real stuff. The close we are to the real stuff, the less risk there is of big moves down.

 

[SpeedyEddy]

Totally missed out on this dip, saw it rising @ opening, did not pay attention for half an hour, counting on +$210 to follow.
So now just waiting around $192/1933, rise should follow soon or after 14:00 hours..... If neither then I will be in doubt to sell with a loss surviving the dip empty-handed or -cc at least.

yeah come-back-kid heard me...

 

[SpeedyEddy]

This coincided with call IV crush. MMs must have unloaded a bunch of hedges as people took profit on their calls. This will reduce gamma exposure on MM's part which weakens the upward momentum going forward, if there's any. However, the good news is the more calls are taken profit on, the closer we are to the real stuff. The close we are to the real stuff, the less risk there is of big moves down.

next week and the week after very low Option-positions, so this week they will be happy just below 200, Everybody waiting for investor day, I think, nobody gambling a lot. Except for the last one, the former 10 earnings/AI/Battery days have all turned the SP south afterwards, so no-one dares to go all in this time, while most of us expect a very positive signal coming out out of march 1st. But will it be understood?

 

[Jim Holder]

I made a mistake here, trying to count the runup from 197 to 210. Wave sequences at this small of a degree are unreliable. Will post updated chart in a bit. Still targeting 207+ for the rebound.

Are those us of holding a few $192.50 CSP’s for this Friday still in danger of going ITM?

Likewise for your $177.50 next Friday (March 3)?

 

[ReddyLeaf]

STO 15x 3/3 -c200 @$11.3

Edit: sorry 3/3, not 3/4... and yes, I could have closed these out already for +$3.6, but holding them as a hedge for this week's -p200's

I followed @dl003’s theme and STO 15x CSPs for 3/3 (9 days out). 10x @ $177.50 and 5x @ $175, for $3.27 and $3.80 respectively. Hopefully we don’t get that low in 9 days, especially with Investors day next Wednesday.

This looks like capsulation to me. STO CSP 15x192.5 Put expiring this Friday. Limit order at $4.90 but filling at $4.97. Got lucky

Although 197-210 was certainly weaker than 218 - 197, the bounce still took the form of a 5 wave sequence. As the result, I think once we get down to 200, another leg up with take place up to 212-215 area. After that, we should go down to 192.5 to complete wave A. Then we'll go up for Investor's Day.

I’m always amazed at how people can time and predict this stuff. Max Plaid sells c200s at the morning peak, jw934, with balls of steel, sells p192.50s at the daily bottom, Jim Holder sells CSPs at the same time, and all the while dl003 predicted the 192.50 bottom DAYS ago. Damn fine work everyone. I, on the other hand, rolled out some 189/190 BPSs (that probably didn’t need to be rolled) and sold 2/24 -c210s too early and during that dip for less than $1. Stupid. I need to spend more time reading/learning and less time trading.

 

[dl003]

Are those us of holding a few $192.50 CSP’s for this Friday still in danger of going ITM?

Likewise for your $177.50 next Friday (March 3)?

High chance 192.5P's will be safe, at least till end of day tomorrow. We've just formed very bullish reversal candle on the 4h. Chances are we will close it in 50 minutes green for the day so that'll be good. FOMC minutes come out in 1:20 which is after the candle closes. Both SPY and TSLA look prime for a bounce.

It's always been my take that the bottom before Investor's Day will be 187. Everyone should reduce their exposure before EOD on Wednesday.

 

[Jim Holder]

High chance 192.5P's will be safe, at least till end of day tomorrow. We've just formed very bullish reversal candle on the 4h. Chances are we will close it in 50 minutes green for the day so that'll be good. FOMC minutes come out in 1:20 which is after the candle close. Both SPY and TSLA look prime for a bounce.

Great! I take it that means our -P $177.50’s are safe next Friday too, correct?

 

[dl003]

Great! I take it that means our -P $177.50’s are safe next Friday too, correct?

Before Investor's Day, yes. But Thursday and Friday that come after is a toss-up for me.

 

[Jim Holder]

Before Investor's Day, yes. But Thursday and Friday that come after is a toss-up for me.

That probably seems we should close them on 3/1’s highs and take what we can get. Unless I guess something changes in the charts between now and then.

 

[SebastienBonny]

I’m always amazed at how people can time and predict this stuff. Max Plaid sells c200s at the morning peak, jw934, with balls of steel, sells p192.50s at the daily bottom, Jim Holder sells CSPs at the same time, and all the while dl003 predicted the 192.50 bottom DAYS ago. Damn fine work everyone. I, on the other hand, rolled out some 189/190 BPSs (that probably didn’t need to be rolled) and sold 2/24 -c210s too early and during that dip for less than $1. Stupid. I need to spend more time reading/learning and less time trading.

Well, @Max Plaid didn’t close his CC at a nice profit and now we’re almost back at 200 .
Just saying it’s not always the ability to time the market, but also some luck.

 

[Max Plaid]

Well, @Max Plaid didn’t close his CC at a nice profit and now we’re almost back at 200 .
Just saying it’s not always the ability to time the market, but also some luck.

I think for every great trade timing you do there are 10 that suck, just the good ones stand out. No method, just gut-feeling and a bit of pattern matching, I guess. For the record, before market open I watch the pre-market and try to judge the "mood", the actual SP value itself isn't particularly important, but how it trades up/down and then whether I think it will pop or dump at open and by how much

Before open today I had 201-2 as an initial pop and then set an optimistic sell order for the calls at a premium which would trigger at ~202.50, when it was clear this was out of reach I then look at the chart of the -c200's, see that 11.30 is a local peak, so then resubmit the order at that price - more often than not, these levels get revisited, as was the case today

And no, I deliberately didn't re-buy them, the idea being that they hedge this week's -p200's, strategy rather than carelessness, there was $5k after just 30 minutes on offer there, but that's not what I was playing for, yes I could have taken that, then resold when it popped back up, but what if it kept going down...? And thanks to those, I can now leave the puts running until Friday without too much worry - lots of extrinsic still for this week to wash out yet

Maybe there'll be an IV crush after the FOMC minutes are release and/or a crash/rally/nothing, etc., who knows...

 

[SebastienBonny]

I think for every great trade timing you do there are 10 that suck, just the good ones stand out. No method, just gut-feeling and a bit of pattern matching, I guess. For the record, before market open I watch the pre-market and try to judge the "mood", the actual SP value itself isn't particularly important, but how it trades up/down and then whether I think it will pop or dump at open and by how much

Before open today I had low 201-2 as an initial pop and then set an optimistic sell order for the calls at a premium which would trigger at ~202.50, when it was clear this was out of reach I then look at the chart of the -c200's, see that 11.30 is a local peak, so then resubmit the order at that price - more often than not, these levels get revisited, as was the case today

And no, I deliberately didn't sell them, the idea being that they hedge this week's -p200's, deliberate strategy rather than carelessness, there was $5k for 30 minutes on offer there, but that's not what I was playing for, yes I could have taken that, then resold when it popped back up, but what if it kept going down...? And thanks to those, I can now leave the puts running until Friday without too much worry - lots of extrinsic still for this week

Maybe there'll be an IV crush after the FOMC minutes are release and/or a crash/rally/nothing, etc., who knows...

It’s everyone’s decision what to do with their options. Even at 50% gain I would let contracts run in certain circumstances, while I could close them in others .