Wiki Selling TSLA Options - Be the House

[SebastienBonny]

TSLA looking pretty bad pre-market, sub-140 today? IV also popped to 110%

I do still have 100x -p140 / -c150 in play, but I really struggle to see what could be said in the earnings call to pop the stock, but there's plenty to dump it further from here

Need to get those puts out of the way, so I'm planing to roll the -c150's down to -c140 for this week and use the premium to buy-back the -p140's, going to start writing -p90's, I'm a buyer at that price

Yes, -c140's down here is a bit risky, but easier to roll those up for the next two years than end up with puts $50 ITM...

That being said, I do also have 20x Dec 2025 -p190's (and -c190's), that I need to keep an eye on...

Do you think 25 and 26 options are at risk for early assignment?
Holding June 26 250 -P, but still some extrinsic in it.
Also June 24 220 -P which gets tricky, but fully covered by cash.
May let it assign or roll it a few months or even years.

 

[SpeedyEddy]

Because Friday's order @$145.65 did not get filled, I was happy to partly buy back in on shares a few moments ago (outside RTH) @ 142.65 . Also have again an order set on buying $139.05 (as I had on Friday).
For the rest I wait for ER plus Conference call to decide when to get back in fully. Will sell some NVDA OTM puts to get me covered.

 

[Max Plaid]

Do you think 25 and 26 options are at risk for early assignment?
Holding June 26 250 -P, but still some extrinsic in it.
Also June 24 220 -P which gets tricky, but fully covered by cash.
May let it assign or roll it a few months or even years.

I just checked my Dec 2025 -p190's and they still have loads of extrinsic, at this moment, lid is $60, so $17 stills of Friday, looks like they need SP around $100 before they get into trouble - then the plan is to roll out and down, which is somewhat facilitated by them being straddled with -c190's too

TBH I don't have a huge experience of getting long-dated puts assigned, @BornToFly is more knowledgeable on that, I think

PSA: $1 increment strikes added for TSLA this week down to $105... I take that as a sig that the markets expects to visit these levels, or might just be a scare-tactic by the bears

 

[vikings123]

I for one wish that if we are going to break 139, please let it happen tomorrow so I can fully position for the downside going into ER. I loaded some hedge at 150 151 but not enough since I expect the 140s to hold. Market will probably hold the 140s going into ER though. The scariest thing would be one massive red candle after numbers and I cant do nothing about it.

I’m fully hedged with May 2024 150 puts which I got in at a very good price.

At some point before ER I want to convert these into a calendar spread by selling puts for 80 or 90 strike price perhaps one year out especially with IV now spiking.

In case of a crash I will let go my remaining TSLA shares and hope to get assigned on the 80 or 90 puts.

Any thoughts on this strategy? I know @Max Plaid uses calendar spreads so tagging him too.

 

[Jim Holder]

$141 hit

 

[vikings123]

https://twitter.com/x/status/1782159523266044375

 

[Jim Holder]

https://twitter.com/x/status/1782372564817551655

 

[Max Plaid]

I’m fully hedged with May 2024 150 puts which I got in at a very good price.

At some point before ER I want to convert these into a calendar spread by selling puts for 80 or 90 strike price perhaps one year out especially with IV now spiking.

In case of a crash I will let go my remaining TSLA shares and hope to get assigned on the 80 or 90 puts.

Any thoughts on this strategy? I know @Max Plaid uses calendar spreads so tagging him too.

Mostly my calendar spreads are with weekly shorts - admittedly right now, -p90's don't pay a lot on a weekly basis, and writing them out, say for Jan 2025 will get a nice $5 ro so, but by that time the SP may have bounced-backup again

My strategy, with the July +p150's is to offload them and the go heavy on CSP's with all my cash...

 

[Max Plaid]

PSA: SMCI sub-700 in PM

 

[Jim Holder]

https://twitter.com/x/status/1782106129134428440

 

[juanmedina]

PSA: SMCI sub-700 in PM

I think is funny that a $50B company can put down pressure on a $1.9T company.

 

[Yoona]

PSA: SMCI sub-700 in PM

that would be me starting the SMCI wheel

friday's black swan spooked me so bad i am going back to the basics - see page 1

according to last night's chain, even 110 OTM CC gives a decent $1k income if stock drops further

no more spreads/IC - wipeout risk is very high; i'm finally terrified of these weekly surprise 20% moves

as for NVDA, my wheel starts at 625

 

[Jim Holder]

TSLA GEX as of this morning. Lots of puts are very ITM. If/when any start taking profit it can lift the SP, dunno by how much.

 

[juanmedina]

that would be me starting the SMCI wheel

friday's black swan spooked me so bad i am going back to the basics - see page 1

according to last night's chain, even 110 OTM CC gives a decent $1k income if stock drops further

no more spreads/IC - wipeout risk is very high; i'm finally terrified of these weekly surprise 20% moves

View attachment 1040644

as for NVDA, my wheel starts at 625

Same here. Any thoughts on NVDA for today? The short sale restriction should be in effect today. I need to $800 to reposition myself for the potential downside.

 

[Yoona]

Same here. Any thoughts on NVDA for today? The short sale restriction should be in effect today. I need to $800 to reposition myself for the potential downside.

possible retrace to 625, i just dunno when

 

[Jim Holder]

So we're at the infamous $140/$139 line-in-the-sand

Anyone selling their shares here?

 

[CHGolferJim]

So we're at the infamous $140/$139 line-in-the-sand

Anyone selling their shares here?

If my GTC at $140 hits, considering doing a buy-write at $140-$150 vs. potential dead cat bounce after ER.

 

[lrm3red]

So we're at the infamous $140/$139 line-in-the-sand

Anyone selling their shares here?

View attachment 1040652

View attachment 1040653

Likely I will sell ATM -C and buy a 30 days out ATM +P spread $10 wide financed with the -C hopefully.

 

[Max Plaid]

that would be me starting the SMCI wheel

friday's black swan spooked me so bad i am going back to the basics - see page 1

according to last night's chain, even 110 OTM CC gives a decent $1k income if stock drops further

no more spreads/IC - wipeout risk is very high; i'm finally terrified of these weekly surprise 20% moves

View attachment 1040644

as for NVDA, my wheel starts at 625

Well SMCI is like a meme-stock on acid... I'm going to keep rolling the -p1000's see what happens, have the +p's don't forget, so calendar diagonals, low risk other than early assignment

 

[intelligator]

that would be me starting the SMCI wheel

friday's black swan spooked me so bad i am going back to the basics - see page 1

according to last night's chain, even 110 OTM CC gives a decent $1k income if stock drops further

no more spreads/IC - wipeout risk is very high; i'm finally terrified of these weekly surprise 20% moves

If the price can stick through open, I may just bite the bullet, shutdown the two spreads, move on with extreme caution. If you have a minute, please post an SMCI Vanna ... I loaded up the chain from CBOE , appears dealers can take it to 650 or 750 equally.