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  • The final cut of TMC Podcast #34 is available now with topics timestamped. We covered Tesla's rollercoaster prices, Toyota pushing junk science, Mike's new Model 3, Optimizing track mode for snow driving, FSD V11 apparently coming by the end of this week, and more. You can watch and check out the chat replay on YouTube.

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  1. I

    Wiki Selling TSLA Options - Be the House

    The best i have to work with is to sell a 2/17 p177.5 , the short leg is the other end of the straddle, the sold put insured by buying the p157.5 on the long side ... a BPS using margin. Not the same as a strangle but not bad return of $620 on $10k 8DTE if opened Thursday at $201 price point...
  2. I

    Wiki Selling TSLA Options - Be the House

    Good catch. -c175 to -c177.5 Not enough cash , tied up in a far out CSP ... but i like the thought for when i do have the cash. --> Pls share what it'd look like using the roll i have in mind. EDIT: :) it's a straddle , same strike, same expiry ... wasn't thinking clear.
  3. I

    Wiki Selling TSLA Options - Be the House

    I'm thinking of rolling for minimal debit, -c170 to 2/17 -c177.5 ... it adds 2.5 to strike and more importantly, 2.10 of extrinsic, at about .35 now, too close for comfort, too near callable. I'm only going to next week, expecting that I'll have a better roll opportunity to something higher...
  4. I

    Wiki Selling TSLA Options - Be the House

    Rolled -c170 to June -c210 for a credit , yeah , it's a bit out. It's just two contracts, experimenting with rollback at some point. Reading into @dl003 , I may roll 5 -c175 contracts to next week. Missed the opportunity at time @CHGolferJim had rolled to do anything at credit. If we are ITM...
  5. I

    Wiki Selling TSLA Options - Be the House

    I have -c170 and -c175 to roll. The cost basis on these shares so low, I want to avoid them called away. Yes, I know not to sell calls if I don't intend to have shares called away. Who knew ? :) Any strategy to a far out roll that can be better managed at a later time? EDIT: There are so many...
  6. I

    Wiki Selling TSLA Options - Be the House

    Closed $230's at .50 from 1.00 sale at just before noon
  7. I

    Wiki Selling TSLA Options - Be the House

    Hmmmmmm .... was this the indicator that a reversal was forming? It was the second low where the MACD and RSI trend upward. I set a BTC for .50 but had missed it by a few cents. Had I been watching at the time, could have replaced with .53 ...
  8. I

    Wiki Selling TSLA Options - Be the House

    Using the technique described by these two posts and applying 5 minute view instead of twitchy one minute I typically watch (the trigger was the second high with downward trending MACD and RSI. Did I understand this correct?) , I sold 2/10 -c230 for 1.00 which will probably not age well (.67...
  9. I

    Wiki Selling TSLA Options - Be the House

    This is from the source of options volume (where contracts > 500)
  10. I

    Wiki Selling TSLA Options - Be the House

    2/10 -c220 are $2.35 -c230 are $1.43 , they were 1.26 and .69 at end of day. I didn't record what they were at this price point yesterday after noon , seems like a good premium for the 230's , I'd expect those to be safe. EDIT: Following the price movement, 20% + OTM , -c240 for $1.40+ while...
  11. I

    Wiki Selling TSLA Options - Be the House

    Put OI at 160 and 170 is about the same as c180 and c190. The c200 must be a distraction of sold calls; interest is beginning to build at 200 for next week as well. I personally hope we slide down some to have a chance at expiring c170 and c175. I'll be out of wash sale jail then but don't...
  12. I

    Wiki Selling TSLA Options - Be the House

    Amazing how we drop 10$ in less than an hour. Had I held out the rolls of calls to next week, like most of, could have avoided debit. Looks like tug-o-war , who will win? Call to Put, 3.8:1 Options volume (where contracts > 500)
  13. I

    Wiki Selling TSLA Options - Be the House

    I have 2x165 and 5x170 for 2/3. The extrinsic is about .50 and just over 1.00 respective. I am thinking mine need to roll tonight now. EDIT: QUESTION - If I roll to a strike 2/10 in the money today, does that "tag" the shares as short term when called away? Example, roll 2/3 -c170 to 2/10...
  14. I

    Wiki Selling TSLA Options - Be the House

    So, are we rolling calls forward or selling put? We are hovering the day's high from the morning.
  15. I

    Wiki Selling TSLA Options - Be the House

    Checking yesterday to today, the c170 (23k OI) and c175 (22k OI) increased some, c180 (34k OI) added about 75%. The put side increased from 170 down, more so on the 160 and 150 strike where gamma is less but Open Interest is 24k and 21k, respective. Right where we are, +/- 5 seems probable...
  16. I

    Wiki Selling TSLA Options - Be the House

    Options volume (where contracts > 500) as of a 11:55a , call to put ratio about 2:1 Like a few of us here, I'm undecided what to do with 2/3 -c165 and -c170 , they can be rolled up 10 for a small debit to next week or out further. I typically like to stay < 5DTE , this time things can move...
  17. I

    Wiki Selling TSLA Options - Be the House

    About @Yoona, a good part may have had to do with TSLA , the sudden and quick erosion, that trading SPY was a bit more predictable and lucrative. One of her posts mentioned this.
  18. I

    Wiki Selling TSLA Options - Be the House

    True, if he does nothing the call expires. I responded with what would happen to the call sellers shares / expiring sold call. My bad. I also revised my comment after confusing myself.
  19. I

    Wiki Selling TSLA Options - Be the House

    Or earlier... the call is worth about $43.2 right now, so it's got about a dollar and a half or so of extrinsic... whichever comes first (call value + strike < price) or 2/17. EDIT: I had it wrong... subtract the value from the price. If it's less that the strike, I believe the call sellers...
  20. I

    Wiki Selling TSLA Options - Be the House

    I saw that yesterday, thanks for sharing. Honestly, I am learning (as you saw from my mistakes earlier today). The gamma exposure isn't exactly an indicator of what actions to take, as much as it is highlighting work MM need to consider; delta hedging. I use it as another datapoint when...
  21. I

    Wiki Selling TSLA Options - Be the House

    166.66 is the dividing line of the near inverted symmetrical chart. Keep in mind also that p155, p160, p165 , c170, c175, c180 near peak gamma have significant open interest (second chart). Given this pattern and slightly gamma positive, it may suggest we see some of the same Tuesday with a...
  22. I

    Wiki Selling TSLA Options - Be the House

    During the morning dip, I made a costly mistake by BTC -c175 that I rolled from last week to this week at even money, sending 85% of that trade down the tubes. The CC I closed happened to be the furthest from the money... so dumb. It happened because I didn't fold into the value the "free"...
  23. I

    Wiki Selling TSLA Options - Be the House

    It's early to tell... this has the looks of a week in the low 170s. Options volume snapshot taken at mid-day suggested the same. It's anyone's guess, mine is we revisit the mid 160s.
  24. I

    Wiki Selling TSLA Options - Be the House

    Heading out for the day , good luck to all. Here's the options volume as of 12:30 (where contracts > 500) ... I included this and next week expiry. It's be sweet if next week we hovered near 170, it'd allow to expire a couple of the CC rolls.
  25. I

    Wiki Selling TSLA Options - Be the House

    rolled 160, and 162.50 to next week 165 and 170 for about even, slight debit. I am looking to do the same with 165 to 175 but the price just keeps climbing :) I'll keep doing this weekly if needed or if get's so steep, will target some far out dates and not rely on CC for generating cash.
  26. I

    Wiki Selling TSLA Options - Be the House

    Huge gamma exposure spike at 160, both put and call, there's enough interest at c155 and c165 as well. I ended up selling a +140/-145 BPS for .25, thx @EVNow for reeling me in from the 5 wide -c148 BPS I was considering... it ended the day at 80%. Makes me wonder why I bothered to sell 160...
  27. I

    Wiki Selling TSLA Options - Be the House

    Anyone looking at selling puts? -p148 for tomorrow are .55 , thinking about a 5 wide BPS (.37 to .40)
  28. I

    Wiki Selling TSLA Options - Be the House

    Yesterday to today, not much changed from a gamma exposure perspective. c140, c145 edged up some, c150 slightly .005 to .020 (look at the y axis on both charts to notice). c160, c170 remained the same. A small increase at p140, that's it. The 150 wall may keep us +/- 3 tomorrow from where we...
  29. I

    Wiki Selling TSLA Options - Be the House

    Isn't risk of assignment tomorrow night? Meaning, tonight's announcement is at 530 , isn't that after when that possibly ends? Otherwise, i better get rolling or closing. EDIT: May as well save a post and write this here. Slightly more puts than calls as of 3PM ... options volume (where...
  30. I

    Wiki Selling TSLA Options - Be the House

    The gamma exposure chart mirrors the options volume today, c150 is hot, c160 increased slightly. While still gamma positive, c140 retracted some, all puts below that strike saw an increase in interest. It's feeling like the calm before the storm. Aftermarket seems undecided as well. If we...
  31. I

    Wiki Selling TSLA Options - Be the House

    My interpretation, right or wrong, a flat formation is when the underlying isn't moving with firm direction or trajectory, that the corrections is back to the norm, i.e., another cycle determined by the market, down or up but to land not far from where we are.
  32. I

    Wiki Selling TSLA Options - Be the House

    Options volume this session as of 12:25 (where contracts > 500) , 150 continues to be a hit , Call to Put ratio, 2:1
  33. I

    Wiki Selling TSLA Options - Be the House

    The call/put gamma lines are just a reference to remind that gamma is highest ATM. It could be inferred just by the spot price or close price but not the extent of the bell shape. The crossing over of the call or put exposure bars is meaningless... I'm experimenting with the layout. Interest...
  34. I

    Wiki Selling TSLA Options - Be the House

    STO CC for 1/27 , $160 (10% @ 1.55), $162.50 (45% @ 1.00) , $165 (45% @ .80) ... had I held out a bit , could have done better; time will tell.
  35. I

    Wiki Selling TSLA Options - Be the House

    1/27 $165c is nearing .80 , time is our friend today.
  36. I

    Wiki Selling TSLA Options - Be the House

    I'm considering a 1/27 $162.50 cc , looks reasonable at .90 or 1.00 , it may fare well with pullback anytime before Friday
  37. I

    Wiki Selling TSLA Options - Be the House

    Always learning but can't put this one together. How is max loss calculated to be 8, pls... it's not clicking for me :) EDIT: Thanks for the example @traxila , I see it now in the trade window. In my case, I can't risk having shares put to me until I get out of wash sale jail.
  38. I

    Wiki Selling TSLA Options - Be the House

    125 and 130 are solid, after-market we are up a dollar plus, pre-market is green, will we tag 130 or ride above it to close? I closed my stuff early yesterday , not much to fret over. Smooth moves today @SpeedyEddy , I like the ATM play you have in mind; the expectation that we may drop some...
  39. I

    Wiki Selling TSLA Options - Be the House

    It appears the price pattern today is similar to yesterdays ... the lows occurred early afternoon. I'm looking for a BPS set point for tomorrow or next week.
  40. I

    Wiki Selling TSLA Options - Be the House

    Today I closed a 1/20 -130/+135 BCS , to be safe , at a few hundred dollar loss. I would have had to take action nonetheless, rolling into next week with a possible steep climb would have been more management and snowballing of losses. I'm trying hard to pay for my mistakes, at a discount...
  41. I

    Wiki Selling TSLA Options - Be the House

    I'm watching, not clicking, would rather wait the outcome of this and next week... it's same midpoint on P/C for this IC short strangle , not bad either.
  42. I

    Wiki Selling TSLA Options - Be the House

    So you are saying (non-advice) exemplifying a hedge , that if one buys puts now ... near 127 for a few weeks out and when we visit 140 sell the calls for two weeks out as well? The puts are there to appreciate if the price falls. What's the advantage to buying the put at 120 vs 100 vs 95 which...
  43. I

    Wiki Selling TSLA Options - Be the House

    Still holding 1/20 -c130/+135 BCS... would like to avoid rolling up and out with risk of earnings surge. Close the spread at smaller loss now? Also looking at rolling up same expiry. Thoughts on what we are seeing?
  44. I

    Wiki Selling TSLA Options - Be the House

    The exposure chart is goofy due to peak gamma at 132 , magnifying the 133 and 135 puts while 120p has more open interest than 133p. Same with the 130c but that does have the highest open interest south of 160c. Will be interesting what happens Wednesday.... open interest for the 100p is 101K !!!
  45. I

    Wiki Selling TSLA Options - Be the House

    I got distracted and didn't close the 1/20 -130/+135 BCS. The problem I see, or opportunity is that Fidelity paired the sold call with shares as a CC and I have a Long Call for the 135. The -c130 is worth 4.30, so the buyer of that call can sell the call or exercise, which the latter would be...
  46. I

    Wiki Selling TSLA Options - Be the House

    options volume is insane... the below was snapped at 11:45a, I removed many of the low flow columns to allow those with more interest to standout. Slightly more calls than puts traded.
  47. I

    Wiki Selling TSLA Options - Be the House

    I'm patiently waiting for the MMD, not seeing it form. Too much risk rolling to improve by $5 strike and don't want to touch earnings week or go so far out that I have this hanging around. I'm giving this until noon before proceeding to close -130/+135 BCS ... it's a loss I can deal with...
  48. I

    Wiki Selling TSLA Options - Be the House

    This is where we sit for the 20th (based on pricing data from the 13th). Gamma flip is 122 , call and put exposure is about even. Ideally I can close out the -130/+135 BCS Tuesday during the MMD, get some BPS pricing, wait for Wednesday to form the weekly IC, half at a time.
  49. I

    Wiki Selling TSLA Options - Be the House

    The day played out as anticipated, except I didn't have the courage to open another 1/13 BPS before noon. Late afternoon, I did close the +105/-110 BPS at 95% and opened a -130/+135 BCS for the 20th. If we do go down, prefer we don't ... make me roll instead, I'll close that at whatever...
  50. I

    Wiki Selling TSLA Options - Be the House

    Put interest dried up ... from a gamma exposure perspective. Seems upside hardened at 130. Positive gamma, MM are typically selling shares. On CPI days, all bets are off. If I read @Yoona analysis correct, 50% chance of red/green before noon, 67% green probability into the close? Assuming...

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