-
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
Post from ArtfulDodger in the “Roundtable” thread that may be relevant to our thread:
“It looks like Chancellor McCormick of Delaware is trying to move the hearings forward in the musk compensation case to preempt the shareholder vote scheduled for June 8th:
The below dates in the Delaware case have changed
On or before May 8, 2024, Tesla will serve its expert reports.
On or before June 7, 2024, Tesla will file its answering brief to the Motion. [The judge is placing this new deadline on Tesla one day before their planned AGM and vote of shareholders]
On or before June 21, 2024, Plaintiff will file any reply brief to the Motion.
On or before June 26, 2024, the Parties will file a proposed Order and Final Judgment, either joint or disputed.
The hearing on the Motion will take place on July 8, 2024.
“It looks like Chancellor McCormick of Delaware is trying to move the hearings forward in the musk compensation case to preempt the shareholder vote scheduled for June 8th:
The below dates in the Delaware case have changed
On or before May 8, 2024, Tesla will serve its expert reports.
On or before June 7, 2024, Tesla will file its answering brief to the Motion. [The judge is placing this new deadline on Tesla one day before their planned AGM and vote of shareholders]
On or before June 21, 2024, Plaintiff will file any reply brief to the Motion.
On or before June 26, 2024, the Parties will file a proposed Order and Final Judgment, either joint or disputed.
The hearing on the Motion will take place on July 8, 2024.
Don't forget I'm in Europe, so most main market trading is outside normal business hours... but I'm a freelance consultant -> and one of the bands I play in is with work colleagues and was requested by the director, so ti kinda overlaps
100%
Gap up and run to $198 was a crazy anomaly/short squeeze/lacked structure. TSLA needs to find a clean range and establish a healthy structure. Dunno if it can.
But oddly next week looks crazy bullish on the GEX side, not sure what to make of it. Maybe exit liquidity grab and we should ditch as well if we see $200-$207
View attachment 1043569
View attachment 1043570
View attachment 1043571
Yeah, but all this GEX and options stuff was pointing lower after earnings, but we got a rug-pull instead. Given that a lot of folks will have loaded up on long calls in the last week,is it not more likely that the same that manipulated the run up to wipe out all those puts will do the same to wipe out the calls, so either dump a bit or trade it sideways for a couple of weeks?
So here's an interesting trade I'm thinking of with NVDA...
Starting point is that I had 500 NVDA put to me @$950, less premium $900 cost-basis
As the SP dropped quite a lot after that, I got antsy about offloading the shares, so bought 5x Jan 2025 +p900 @$140
I then STO 5x 5/24 -c900 straddle, then rolled the -c down to -c800, giving a net premium $150 (p$90/c$60)
So what to do with this closer to expiry? I suspect there's a fair chance that NVDA is trading in the 800's, so both sides would be ITM, now here's the fun part
Imagine, that on 24/5 NVDA is 850, then I let both sides assign, that would be selling the shares with a net price $850 and buying with a net $810... then I write again ITM on both sides a week or a month out, to be seen where we are at that moment
Starting point is that I had 500 NVDA put to me @$950, less premium $900 cost-basis
As the SP dropped quite a lot after that, I got antsy about offloading the shares, so bought 5x Jan 2025 +p900 @$140
I then STO 5x 5/24 -c900 straddle, then rolled the -c down to -c800, giving a net premium $150 (p$90/c$60)
So what to do with this closer to expiry? I suspect there's a fair chance that NVDA is trading in the 800's, so both sides would be ITM, now here's the fun part
Imagine, that on 24/5 NVDA is 850, then I let both sides assign, that would be selling the shares with a net price $850 and buying with a net $810... then I write again ITM on both sides a week or a month out, to be seen where we are at that moment
How is the SP not falling with all this news of seeming chaos?
Last edited:
5x -p950 assigned, $50 premium, net cost $900
BTO 5x Jan +p900 -> STO 5x 5/24 -p900 @$90
STO 5x 5/24 -c800 @$60
NVDA >800 <900 -> 5x -c800 exercised, net $860, 5x -p900 assigned, net $810
And I still have the Jan +p900's, so I can write straddles, strangles, inverse strangles, etc.
In fact, it's "The Wheel", but playing both sides at once... maybe we call it "The Bicycle"
Last edited:
Looks great unless NVDA goes to $1,000. Counting on it to be range bound from ~750-950 seems like its own risk.
something is off there... that's ok, i have the whole day to figure it out!
but, yes, that is an interesting variation of the wheel that i was thinking about almost 2 yrs ago (collect 5 premiums instead of 2):
correct, that's exactly the wheel with straddle component; you collect 5 premiums (in your case, 10)
The Wheel Strategy : 2023 Update With New Examples
Contents The Wheel Strategy Flowchart Theoretical Example Four Real Trade Examples GE Wheel Trade Strategy AVDL Example BHP Example FAQ Conclusion The Wheel Strategy is a systematic and very powerful way to sell covered calls asoptionstradingiq.com
Last edited:
Well if it goes > 900 then I get a net sell of $950 as the puts expire
Bear in mind that I don't actually want to hold NVDA shares, I only have them because they were put to me, so I'm just looking at how to make the most of the current situation
Spot GEX Bars:
GEX bars are not predictive of targets, but of dealer support fueling momentum as trading moves toward them
Green bars above spot= Fuels bullish momentum, the larger the bar the stronger the effect
Red bars below spot= Fuels bearish momentum, the larger the bar the stronger the effect
Green bars below spot= Support/pinning
Red bars above spot= Resistance/pinning
Small/no Gamma bars=illiquid zone/prices can move faster inside them
Similar threads
