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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Bought Sept 22 +287.50 -290.00 for $0.47
Thinking there will be one more push up early next week.
Thinking there will be one more push up early next week.
I still do think this weekend would be a good time for Tesla to announce the CyberTruck delivery event. I do think the announcement will provide a 4-5% pop to the stock that will be short lived.
I don't plan on holding the bull call spread to maturity. If I can sell for a 3x and close both sides I will. Alternative is to sell the +287.50s on a pop and hold the -290s to expiration.
I don't plan on holding the bull call spread to maturity. If I can sell for a 3x and close both sides I will. Alternative is to sell the +287.50s on a pop and hold the -290s to expiration.
STO a few -C290 9/22 for $2 @$275.88
Starter position, looking to add if we try today's highs later on.
Starter position, looking to add if we try today's highs later on.
OK, that pop back to $276 got them sold AND closed out the remainder of this week's puts 20x -p270's @10cManipulate back and set it for a penny below
Rather pleased to have gone from 40x -c260's & 20x -c270's written last week expiring today, for very low premiums, to 20x -p270/-c270 & 20x -c280 for next week without losses -> chased them all the way up with put straddles rolled and rolled again, very effective. That's the huge benefit of keeping a pile of cash on hand
Great work!! Need to learn from you how to wiggle out of positions that go against us.
You have to learn to be willing to accept pain.Great work!! Need to learn from you how to wiggle out of positions that go against us.
short term pain,
longer term gain!
So true! It's painful sitting on a position going so red while waiting to burn off theta and roll, and watching it go redder and redder. It plays with your head. I can't imagine how @Max Plaid does it.
Mastering that is major.
Third day tracking QTA's generated levels, so far accurate all three days 
Yesterday it hugged the top range, today the bottom range ruled and I scalped calls off the bounce.
Yesterday it hugged the top range, today the bottom range ruled and I scalped calls off the bounce.
In this case it was a hell of a lot of work and patience, catching the dips and pops to close, resell, roll, etc.Great work!! Need to learn from you how to wiggle out of positions that go against us.
But the main winner was rolling puts - last week I had written 50x -p230's for 9/15 and they'd already gained 60% profits by last Friday, so I rolled up to 30x -p245, which looked like a poor decision when we closed at 245 last week, but genius on Monday when we gapped-up... this of course put my calls in the dumpster, but the -p245's went to nothing fast, closed them for 10c and rolled them to 30x -p260, these also lost value fast an I could close on Wednesday 80% profits, then wrote again at -p270, which also allowed me to straddle with 20x of the -c260's
Yeah, it was not easy, but all the profits on the put rolls covered all the call losses, but I cannot do that every week, not funny!
The 50x -p230's were initially sold for $5850, but the sequence of rolls generated $36800, plus the profits from the -c270's closed today, an extra $6780, which offset the total losses on ITM call/rolls $39600 -> so in fact around $4k realised for the week = not much, but when you get a +10% day and you have a ton of short calls, that's a good outcome
The mechanics of options trading is really simple, but trying to explain it I find really hard!!
@MP knows that it is just that “the position sizes are larger”.. gains and possibly losses.. it took me several years to be comfortable just increasing position size, but a long history of 85% win rate told me I would be rewarded.. that and the fact that for whatever reason, my allocations to trades that end up in the 15% column are SIGNIFICANTLY lower in $$ terms than the 85% win column. And not just because it’s only 15% of the win/loss metric.
Whatever one calls it.. first loss is best loss, take your lumps early, it’s just math - don’t turn it into emotion, taking losses is hard for anyone but to be a highly successful Investor and certainly TRADER, it must be achieved in order to outpace the rest.
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Knightshade
Well-Known Member
FWIW this morning on dip I'd put in a GTC order to close these at 50% profit then promptly got busy for the day- looks like they just filled a few minutes ago- now I can look to reopen if there's a monday pop and remove any risk of weekend good news.
Anyone selling/buying calls/puts for next week?
Might be chop through Wednesday (FOMOC) and seasonal softness afoot.
Likely close around $272 if no flush or last minute surprises.
I have:
15x -C290 9/22 @$2
25x -C290 9/29 @$5
Looking to STO more on any new strength and BTC on any weakness.
Might be chop through Wednesday (FOMOC) and seasonal softness afoot.
Likely close around $272 if no flush or last minute surprises.
I have:
15x -C290 9/22 @$2
25x -C290 9/29 @$5
Looking to STO more on any new strength and BTC on any weakness.
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Still healthy. The finale is still yet to come.
P&D is like a black hole from which light from the other side can't escape.
Information cannot escape black holes so you get nothing from staring at them. P&D can change everything so everything I say, from buying 255 to selling 290, is only valid till 9/29. After that it's wait and see. That's the collective understanding between traders so we can always count on a little reversal to the mean a few days before a big release as the winners want to take home some spoils instead of risking it all on the unknown.
You can make a few small bets looking at the chart right before P&D, but not in the sizes we're trading here.
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