Wiki Selling TSLA Options - Be the House

[Max Plaid]

What do you guys think? Do we close back higher today?

Back to capping at $172...

I put a buy order in for my -p180's, I know we have PPI and CPI and yes, there's a possibility the numbers are cold and the markets could rally, but there's also the possibility that the numbers are not favourable and the converse happens, so it's a gamble IMO

 

[Knightshade]

PSA: If you weren’t watching the ChatGPT AI Spring update, you should… once again, its BMM (blow my mind) time.

Like in the "Elon talking about how fire each tiny FSD update will be" sense, or in the "actual significant improvements where it stops making up things that never happened and sources that don't exist" sense?

 

[Max Plaid]

For the EW folks

https://twitter.com/x/status/1790073037057905120

 

[Yoona]

It's giving me a slight headache, for sure, but sounds about right... but what LEAPS would you be looking for? As always, when you write against longer dated long positions, be careful with the Delta movements if they go ITM, you can get underwater quite quickly

thank you for replying

i was thinking of quitting because no one bothers to answer my LEAPS questions, and i must have asked 10 times

from what i have been reading, the standard is 80 delta, so Jan 16 2026: +c620 debit 36250

that means i can buy 2 LEAPS (36250x2=72,500), cheaper than buying stock 78,700

but i perhaps i should just start with 1 LEAPS until i learn what this means "be careful with the Delta movements if they go ITM, you can get underwater quite quickly"

thank you

 

[Max Plaid]

thank you for replying

i was thinking of quitting because no one bothers to answer my LEAPS questions, and i must have asked 10 times

from what i have been reading, the standard is 80 delta, so +c620 debit 36250

View attachment 1046823

that means i can buy 2 LEAPS (36250x2=72,500), cheaper than buying stock 78,700

but i perhaps i should just start with 1 LEAPS until i learn what this means "be careful with the Delta movements if they go ITM, you can get underwater quite quickly"

thank you

Seems reasonable, then you'll sell weekly ATM straddles against those?

 

[Yoona]

Seems reasonable, then you'll sell weekly ATM straddles against those?

correct, 2 ATM SS

but i'll start with 1 (now i also gotta learn the mechanics of SS and how you seem to roll them with no loss eventually)

 

[dl003]

For the EW folks

https://twitter.com/x/status/1790073037057905120

That's what I suggested earlier today. However, one cannot be both bearish and thinking it's a 3 building up here. 123(45) is an impulse, which means it's bullish all the way through. If one is bearish, then it should be ABC. A lot of people on X got their EWT basics all wrong.

Even though this is a DCB, I suspect it will spike up again. If the 1st leg terminated at 175.xx, then 172.5 is where it will begin to look for bottom of the pullback. Now, it'd be crazy if both the spike and the pullback terminated on the same day, but this is TSLA.

I have no idea if the 2nd leg up will stop at 180. It can go all the way up to 203 but not without news. I've trimmed my CCs at 171.
On the 1H timeframe, momentum has turned sharply up, which is why I think it'll spike again. Plus, when it just erased 3 days worth of bearish PA in 1 morning, don't assume it's just gonna die here.

However, the fact that CPI is coming tells me this is purely technical, shorts taking profit before big numbers. LCID and RIVN are running, too. When was the last time TSLA ran with these meme names and kept its gain after?

In other news, QQQ has invalidated its bear flag, so I can't rule out the market making new ATH, CPI permits. SPY 480 is still very much on the table, though.

 

[Max Plaid]

That's what I suggested earlier today. However, one cannot be both bearish and thinking it's a 3 building up here. 123(45) is an impulse, which means it's bullish all the way through. If one is bearish, then it should be ABC. A lot of people on X got their EWT basics all wrong.

I have no idea if the 2nd leg up will stop at 180. It can go all the way up to 203 but not without news. I've trimmed my CCs at 171.
On the 1H timeframe, momentum has turned sharply up, which is why I think it'll spike again. Plus, when it just erased 3 days worth of bearish PA in 1 morning, don't assume it's just gonna die here.

However, the fact that CPI is coming tells me this is purely technical, shorts taking profit before big numbers. LCID and RIVN are running, too. When was the last time TSLA ran with these meme names and kept its gain after?

In other news, QQQ has invalidated its bear flag, so I can't rule out the market may be making new ATH, CPI permits.
View attachment 1046834

I just checked the forecast and consensus for PPI and CPI and expectation is they come in below previous months...

Might be worth holding my -p180's and taking the risk

 

[Jim Holder]

5/17 GEX showing same 170-180 posture, with a peak at 175 = Likely pinned location

 

[TexasGator]

but i perhaps i should just start with 1 LEAPS until i learn what this means "be careful with the Delta movements if they go ITM, you can get underwater quite quickly"

my interpretation what Max meant was to get the 2 leaps, and only sell one call if you are selling CC close to or ATM, since they can get away from you if SP goes up quickly (which we've seen SMCI do in both directions). and basically have the other LEAP as a "reserve" in case the first goes ITM and you need to roll up and sell 2 instead

2 ATM SS

so i can see selling ATM CC against the leap, but also selling an ATM put gives significant risk of getting put more shares if the SP drops - or were you meaning strangles where the put strike was further away?

just trying to make sure I'm following along

 

[Yoona]

my interpretation what Max meant was to get the 2 leaps, and only sell one call if you are selling CC close to or ATM, since they can get away from you if SP goes up quickly (which we've seen SMCI do in both directions). and basically have the other LEAP as a "reserve" in case the first goes ITM and you need to roll up and sell 2 instead


so i can see selling ATM CC against the leap, but also selling an ATM put gives significant risk of getting put more shares if the SP drops - or were you meaning strangles where the put strike was further away?

just trying to make sure I'm following along

yes, instead of selling straddle, i can just sell a safer Covered Short Strangle so less chance of getting assigned -p again

less income but perhaps better (for now) on bearish market

thx for the idea

 

[CHGolferJim]

• After 10May$187.50 contracts expired Friday ($187.11 buy-write), sold 24May$187.50 today at $1.49 (closed $0.93).
• Sold 4x as many 24May$190 at $1.08 (closed $0.71) to add to reserve for buy-back of 16Aug$180 — killed 4 last week, but still have 2/3 of contracts there to whittle down.

PS: drove my old S from NC to NJ and back last week for an LPGA tournament, still runs like a top. Hoping to do the trip in CT before too long if regular variant is ever released.

 

[tivoboy]

Like in the "Elon talking about how fire each tiny FSD update will be" sense, or in the "actual significant improvements where it stops making up things that never happened and sources that don't exist" sense?

The second one for sure. Just watch the live demo section. It's about 15 min

 

[Jim Holder]

 

[Jim Holder]

Keep playing the channel until either side breaks:

Credit: Blondebroker1

 

[Jim Holder]

BOD sounding a little desperate? Suddenly when they need us we hear from them over and over and through various kinds of media

Would have been nice if we heard from them with the same frequency and intensity during our 2022 hell and 2023 and 2024…

Timing and optics couldn’t be worse. But maybe that’s par for the course?

 

[tivoboy]

BOD sounding a little desperate? Suddenly when they need us we hear from them over and over and through various kinds of media

Would have been nice if we heard from them with the same frequency and intensity during our 2022 hell and 2023 and 2024…

View attachment 1046894

I’m surprised there was no * asterisk that says “oh, and I’ve recently sold $50M in stock this year”. ;-)

 

[dl003]

are we a bit too hard on them? Bet most AAPL holders dont know who are on its board or what they do.

but on the hand, we only hearing from them when they need something from us is stupid.

 

[Jim Holder]

we only hearing from them when they need something from us is stupid.

This exactly

 

[Jim Holder]

Another classic line from the BOD’s messaging:

“Vote now to protect your investment” lol! A couple years late, eh?

They can actually keep whatever pennies are left at this point