Wiki Selling TSLA Options - Be the House

[Jim Holder]

I'm bullish down here. Not wringing hands. It will bottom where it will bottom.

I guess this means not selling longs even though we're holding below $228?

 

[thenewguy1979]

BTW SPX looks very bad, double topping possible (what can turn out to be the cup-part of a cup and handle later, so don't despair yet)

I have stop looking at chart to identified cup or handles or Kibble or anything.

Whenever I have a loosing trade all I see is a middle finger. On a winning trade a Thumb up. So confusing….

 

[Max Plaid]

BTO a few 2/16 +275c

Gambling on sentiment changing before Q4 earnings. Especially as the idea of gross margins stabilizing sets in.

Not feeling it, tbh. I think WS needs to be shown the money before the sentiment changes, 2x so given next week's HUGE OPEX with MP now at $217.50 (although $230 looks to be a better target to me)

That being said, could rebound hard if margins have improved and outlook is good, so I will get out of my short calls before earnings if the opportunity presents itself

 

[intelligator]

BTC short leg of the flip rolled 1/19 -c247.5 @ 60% , kept 1/19 -c287.5 to back another sell once the dust clears.

 

[dl003]

TSLA holding here while SPY is trying to carve out new lows. Some light at the end of the tunnel.

 

[Jim Holder]

New lows

 

[vwman111]

i beat ya to the race
View attachment 1007924

Are you able to make your weekly premium om 100 contracts? do you write/close them multiple times each week? Still trying to determine the path of my errors. i usually write once a week and the close or roll for the next week. While i try to write a CC on strength, i don't open and close multiple times in a week

 

[StarFoxisDown!]

SPY was at a double top. A negative CPI at this junction is gonna be hard to brush off.

Yup feels like we're about to get that rug pull on the macros.

Good news is we'll finally get it over with in the next 2-3 weeks and then everyone can stop crying about missing the 2023 2nd half rally

 

[DaBooster]

Are you able to make your weekly premium om 100 contracts? do you write/close them multiple times each week? Still trying to determine the path of my errors. i usually write once a week and the close or roll for the next week. While i try to write a CC on strength, i don't open and close multiple times in a week

search her posts, she has covered his here recently.

 

[Jim Holder]

(Credit: CantoneseCat)

 

[intelligator]

Are you able to make your weekly premium om 100 contracts? do you write/close them multiple times each week? Still trying to determine the path of my errors. i usually write once a week and the close or roll for the next week. While i try to write a CC on strength, i don't open and close multiple times in a week

In one of the back linked posts it was implied that while it's an IC, you play either side by selling into strength after the initial IC is opened. Do this several times a day or week. For instance, I did this yesterday. Opened and IC for next week, -p215/-c247.5 , $40 wide on on the buy side. Today I BTC the short call when we were at 226.8 or so to lock in 60%. I left all else there, will reposition by selling the same or as safely closer to the money call that I can with the original intent to hold through expiry. But if the opportunity is there, I would BTC the winning sold call ... or put.

That's my understanding.

 

[juanmedina]

Bought shares to the max (while STO 07/19/24 -P 230 for almost $29)
No more room to STO now (hope the knife will fall no further)

Are you planning to hold the new shares and contracts through ER?

 

[Yoona]

TSLA is below all major MA lines

bounced at 50% fib

if that falls, perhaps 215 as per volume profile

remarkably, still within 1σ from last week (68% chance really works)

 

[Jim Holder]

1/12 (tomorrow): Calls reduced, puts increased:

Earlier today:

 

[intelligator]

Thx @Yoona. Looks like I should consider flip rolling 1/12 -p220/+p200 to next week call , back fill the empty call slot of a spread.

 

[Yoona]

Thx @Yoona. Looks like I should consider flip rolling 1/12 -p220/+p200 to next week call , back fill the empty call slot of a spread.

if you have fear of falling and if you think 220 is still safe, you can delta-hedge the spreads

for ex, if your total delta is +70 then short 70 shares; net delta=0

that means falling sp doesn't affect you (ignoring gamma for now, it is minor compared to delta)

buy back the shares if sp reverses (increases) again, for additional profit

if you roll, buying back the shorted shares reduces the rolling cost significantly, you could even possibly do it for credit

 

[thenewguy1979]

Still holding from the low of 225.54

RSI showed oversold at 1hr candle.

 

[tivoboy]

Still holding from the low of 225.54

RSI showed oversold at 1hr candle.

View attachment 1007962

my gosh you’re growing up quickly.. pretty soon you’re not going to be able to fit into that little pooch sweater anymore.

 

[elasalle]

closed a few NVDA short vertical calls for $$

 

[Yoona]

looking at the premium heat map, 225-227.50 has a higher chance than 222.50-225