-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
gabeincal
Active Member
BTO 50 x 6/16 100p @ $0.45.
Limit sell order set at $4.5
Limit sell order set at $4.5
With neutral IV, this is when that would trigger (used $4.05 put purchase price)
TSLA Long Put (bearish) calculator
EVNow
Well-Known Member
Closed the Call side just now for $0.75 each
Waiting on $157 to close the Puts - should be $5ish each
Not bad for a weekend hold!
Wrote 5May$180 and 12May$185 at market at market open for measly premiums (best available) barely >$1 which turns out to be good timing for once. Looking to roll 21Jul$200 down and in, but a little skittish about $185 with 53 DTE.
Sold 10x -c160 and 20x -c165. Looking to sell a -p150 on further weakness.
Last edited:
Today I discovered why trading ATM options can be very quickly profitable (or conversely, unprofitable). Looked at pre market this AM and guessed today would be a dump (instead of rise that I thought yesterday). So put in a STO -c165s at $4.20, and went back to bed, on the off chance we might get a brief spike at open. Well, it hit (morning high was about $4.25, so lucked out) while I was sleeping. Woke up about the MMD time, and put in BTC at $1.75, which also hit. So a quick $2.40 profit, probably my luckiest trade in months. Now waiting to resell similar CCs if we get an afternoon reversal, if not, well Not a problem because I’ve already made my monthly expenses. Unfortunately, still worried about those ICs if we drop any farther.
Oops, meant -C160 and -C165, just fixed my post. Still getting used to this aggressive call selling thing.
EVNow
Well-Known Member
My guess is the positive Friday action was because of options. So, SP just "naturally" went down today .... I expect SP to follow market at usual Beta from tomorrow (barring TSLA news).
ps : We should watch out for possible huge institutional investors deciding to enter / divest. They do that over days and we can see continuous buying / selling pressure ...
ps : We should watch out for possible huge institutional investors deciding to enter / divest. They do that over days and we can see continuous buying / selling pressure ...
I closed my TSLA short CCs (March ‘24, $300 strike) opened on Friday for about $2,000 gains. I did so because TSLA turned bullish in Dealer Deltas and price distro for this week and all the way out to 30 days. Perhaps $158 is indeed the (temp) bottom.
Will re-open at next plateau depending on how things look then.
Following my rule to take profits when they show, not be greedy, and to follow the data.
Will re-open at next plateau depending on how things look then.
Following my rule to take profits when they show, not be greedy, and to follow the data.
don't know about that but I think we'll see 169 before the week is over.
EVNow
Well-Known Member
At one time I was selling/buying 100 ATM calls and closing after the SP had moved $2 or so .... which would give me $1 profit ($10k total). For a few days this would only take an hour or so. If SP went in the wrong direction I would double ...
One day suddenly SP moved by > 5% .... and I lost all the money made over weeks.
This was all in '19 when I was absolutely new to options and had beginner's luck
SpeedyEddy
Active Member
(near-)ATM options 's are the way to go if you have a clue about what is about to happen during the day, I often do that (today following @dl003 's hunch, that is rolling out (but a bit stuck now above 160, while 157 is not reached yet, so I am in doubt what to do with my -C 170, that already have a nice profit. Waiting for 157 could end up being the wrong way, but I will wait another bit. (did some stock sells/buys too, nice gains, up 60 shares in 1 week)
Sold a 160p to match my 160c. I think we could go down further this week but I don’t mind buying shares at this price with the premium from sold calls.
At this small of a degree I try not to rely too much on EWT as the small volume and high gyration can muddy the count. This purple sequence is wave 5 of C - the final drop. It could have been completed at 158.8 or working on wave 5 of one lower degree, targeting 157-156. All within a reasonable margin of error. Selling new calls here I think is ill-advised.
I am in agreement - got out of my bought $160P's this morning before lunch for $4.50 each instead of $5At this small of a degree I try not to rely too much on EWT as the small volume and high gyration can muddy the count. This purple sequence is wave 5 of C - the final drop. It could have been completed at 158.8 or working on wave 5 of one lower degree, targeting 157-156. All within a reasonable margin of error. Selling new calls here I think is ill-advised.
and grabbed the opposite Collar that I had going into the weekend =
STO- $160P - $4.45 (dang quick moves)
BTO - $170C - $0.70 each
Net Credit - $3.75 for this week.
If we break $165 tomorrow I will get out of this for a decent gain.
Cheers!
Similar threads
