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  1. T

    Wiki Selling TSLA Options - Be the House

    Like a lot of folks here, i'm trying to deal with some -c200's for 6/23 - written against shares i don't really want to let go at that price. I found an intriguing option. I have a lot of leaps between 250 and 290. Theoretically I could extend from 10x -c200 for 6/23 to 50x -c300 expiring in...
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    Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

    I bet that dings them on the JD power survey..
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    Wiki Selling TSLA Options - Be the House

    I opened a BPS too early yesterday as well. 800 - 1000 for me. Hoping we catch the bottom here and I can still close for full profit, but with a 200 wide spread, I feel ok about that one (just wish i had waited a bit longer yesterday for either a lower entry or more $$). Staying more...
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    Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

    i pretty much agree with all of this. I see the potential for it to be a real world-scale game changer. I mean, there's a reason Elon keeps talking about the labor market in the terms he does when discussing the bot. That said - context. This was an earnings call. What did we do in Q4/2021...
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    Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

    Just a couple of brief thoughts waiting for market open. I think Elon's response to the $25k car question was a bit telling (apart from the FSD detour - that didn't seem to answer the question at all). He said something along the lines that everyone is framing the question wrong. I think (as...
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    Wiki Selling TSLA Options - Be the House

    debating rolling my 860-960 BPS for this week 2 weeks out to 2/11 and widening to 150 wide. I can get 740-890 for a small debit, or 750-900 for a small credit. I have the margin room in the account to do this (IRA so all cash covered)... seems like that buys me a bit of breathing room for...
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    Wiki Selling TSLA Options - Be the House

    I bit on the headfake this morning at 1070. Opened a set of 850-950 BPS for 1/21. At the end of the day they should be fine, but always annoying to see them go immediately into the red.
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    Wiki Selling TSLA Options - Be the House

    Mostly stood pat today - clearly the 1/14 850-1000's look a bit better than they did in the morning. I did make one adjustment. I had a set of 910-1010's that I rolled to 890-990 1/21 for a decent credit mid-afternoon. Felt like with the strong upward movement today it was a good time to...
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    Wiki Selling TSLA Options - Be the House

    Mix of 850-100- and 900-1000. Experimenting a bit with different spread sizes, and like others have mentioned upthread, 1000 feels pretty good for a floor at this point. Might have to start moving out to 200-wide spreads though going forward to help make potential rolling easier
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    Wiki Selling TSLA Options - Be the House

    bets are placed for 1/14 - now the boring part. Sitting back and watching for the next few days.
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    Wiki Selling TSLA Options - Be the House

    got back in with 1/14 850-1000 BPS on about 50% of my usual volume. These are already up 30%, so feeling damn good about that. Looking for a better entry for the rest of my BPS for next week - i figure i've got a couple of days to see how things play out. Also tempted by the 1/7 1310 LCC -...
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    Wiki Selling TSLA Options - Be the House

    My Jan 7 800-950's were all 98% profit this morning, so those are now all closed. Looking for a good point for re-entry, likely for the 1/14's. Looking at 850-1000 (had been doing 100 wide spreads, should probably be at 200-wide - need to see how much widening impacts my available margin).
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    Wiki Selling TSLA Options - Be the House

    Doom and gloom in this thread this morning. Maybe that's a good sign. With the lower open today, I gave up and rolled my remaining BPS for this week out (they were all at 830-930, was hoping to sneak those into closing today so i could open something significantly lower). I didn't really...
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    Wiki Selling TSLA Options - Be the House

    Debating rolling my Dec 17 850-950 BPS out to Jan 7. I could get an easy $15/per on this move, which is pretty good for 3 weeks. It also lets me take a decent sized capital gains loss for the end of 2021 to offset some of my stellar gains... It also lets me relax and ignore the day to day for...
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    Wiki Selling TSLA Options - Be the House

    Minor annectdotal note - i find it much easier to close spreads early when the raw dollar values are low. For example, I have a BPS open with 100 contracts that is at 75% for this week - but it's got 5 figures of raw dollars still open. I found it a lot easier to close the one that was at the...
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    Wiki Selling TSLA Options - Be the House

    Well, i'm good at predicting where I will not do well at least. I opened 850-950 BPS for 12/10 during the dip today, starting at 1140ish and opening the rest at 1120. And of course we almost immediately dropped into the 110x range. :) I'm down between 15-40% currently - should definitely...
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    Wiki Selling TSLA Options - Be the House

    Finished closing out everything for this week on the pop this morning. Waiting for a dip to set up next week's BPS. In the last few weeks, every time i've done this the stock has then dropped 30 points and i had to spend the next 2 days looking at -200% on my spreads. Trying to be a bit more...
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    Wiki Selling TSLA Options - Be the House

    So i have some long term DITM calls (228) in an IRA account that were likely bough pre-split for January. As these are getting close to expiration, i need to do something with them. Previously I would have just sold enough to have $$ to exercise the rest. But with the strategies we've been...
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    Wiki Selling TSLA Options - Be the House

    Im with the “too early” crowd. Sold some 860-960 BPS when we hit the upper 1140’s. Could have gotten quite a bit more if i had waited, but i suppose it could just have easily gone back up there. I got the $$ i was looking for, and those positions feel good for next week
  20. T

    Wiki Selling TSLA Options - Be the House

    Closed most of this weeks BPS on the way up this morning (got around 85% for most of them), just missed one set that i was a bit too aggressive on the value - tried to eek out a few too many pennies. Glad i did that as I was able to open some new 850-950 BPS on the dip for 12/3. Those...
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    Wiki Selling TSLA Options - Be the House

    @adiggs yes, exactly. I've been trying to follow that particular gem (selling BPS into weakness, calls into strength). I closed out this week's BPS yesterday on the strong up. Waited today for a re-entry point, and when it looked like it was just going to continue to rocket up, made the...
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    Wiki Selling TSLA Options - Be the House

    I pretty much ALWAYS feel like i'm doing something wrong - it's so rare to time the sell or the buy exactly right. today when i sold my BPS, they almost immediately went like 7% the wrong way. It's annoying for a few minutes, but i have to remind myself the point isn't to get the timing...
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    Wiki Selling TSLA Options - Be the House

    Just a quick update on my positions... Yesterday i closed out all of my BPS expiring this week (rolled the positions from last week on the scare - ended up 95% profit overall so worked out well). Did not open any new ones yesterday, hoping for a dip to open new BPS today. Didn't really get...
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    Wiki Selling TSLA Options - Be the House

    On that point - when i looked at rolling my BPS to next week (100 wide, strikes in range from 900 to 975 on the short end) I started out with just looking at rolling for time and pretty massive (for me) credit. Flat rolls were around $10/contract. I didn't pull the trigger there though - I was...
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    Wiki Selling TSLA Options - Be the House

    I mean - with this volatility at least the roll options are plentiful. I was able to roll some 980-880's down to 950-850 for a $4 credit for next week. I have more 950-850's that i could roll straight for a $10 credit. As long as we don't ACTUALLY drop into the 700's, those feel pretty decent
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    Wiki Selling TSLA Options - Be the House

    gah, was in the process of putting in close orders to my spreads at 80% when we hit the roller coaster. 5 more minutes! I could have happily opened new ones to double dip for the week. instead my spreads are down in the 30-40% range after that craziness. Looks like i'm back in wait mode for now
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    Wiki Selling TSLA Options - Be the House

    I'm fully transitioned from this week to next week's BPS. Kept all of the short legs below 1000 for next week - felt safe enough for me and there was plenty of premium for me without going higher. Still not dipping much into the call side - have a few cc'd still to close out this week that are...
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    Wiki Selling TSLA Options - Be the House

    closed the last of my 1100 - 1200 BCS that i was hanging on to hoping for a last minute close under 1100. Got it when we dipped down to 1093 earlier this afternoon. Took a few k loss on it, but it could have been MUCH worse. Fully out of the call side for right now. Will see what happens...
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    Wiki Selling TSLA Options - Be the House

    that's hilarious - i did exactly the same thing with the 1250's. went straight cc's vs retrying the BCS.
  30. T

    Wiki Selling TSLA Options - Be the House

    My main takeaway from yesterday (apart from the $$ lost), is that you REALLY don't know what managing a losing position is like until you actually have to do it facing a rocketing share price and a deeper red position every minute. :) I think @adiggs says it at least once a week, but...
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    Wiki Selling TSLA Options - Be the House

    I went ahead and took the hit and closed my 1000 - 1050 BCS once we convincingly passed 1000. At 990+ i was content to wait it out, but I figured better to just take the loss (less than half of the max loss on the contract) and just reset for the next round. Sure there's a decent likelyhood...
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    Wiki Selling TSLA Options - Be the House

    Did something new for me - opened a set of 1000 - 1050 BCS for next week to complete the iron condor with the 700 750 BPS I had opened yesterday. It's a relatively small position in my IRA account - doing this as much to play with and understand the concept as to generate cash as the $$ weren't...
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    Wiki Selling TSLA Options - Be the House

    Finished up my positioning for next week. Mix of 615-715, 630-730 BPS. I've also observed (as many others have today) that the ones I opened 2 days ago are up around 50% already, while those opened yesterday are at 35%, those opened earlier today much less - of course. That leads me to my...
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    Wiki Selling TSLA Options - Be the House

    Did the same - also opened some BPS for next week at the 600-700 range, but agreed that premiums seem lower than last week by a significant amount.
  35. T

    Wiki Selling TSLA Options - Be the House

    If we're considering next week's options - we've got the Austin meeting tomorrow, and then the berlin event over the weekend - I don't think there is anything else expected prior to the end of next week. So theoretically one would think we'd see a reduction in uncertainty come monday. That...
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    Wiki Selling TSLA Options - Be the House

    most of my BPS are around 80% profit right now. Im not terribly concerned about closing them today vs tomorrow, but I do want to close them tomorrow so I can write next week’s ones before the shareholder meeting. seems like a good binary event to take advantage of
  37. T

    Wiki Selling TSLA Options - Be the House

    Similar to others above, my BPS that were opened friday were all up 75-80% when we were at 806 this morning - i was going to close some of them out in anticipation of re-opening on the dip, but failed to act quickly enough (and got called away for a work meeting - i need to look into this...
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    Wiki Selling TSLA Options - Be the House

    STO a variety of BPS yesterday 620-720 for 9/17 600-700 for 9/24 All of my cc's are closed out. For today - if we get a nice rise, I will look to sell some cc's for next week - probably conservative over 800 if i get any premium for that. Will also look at closing some of the BPS early if...
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    Wiki Selling TSLA Options - Be the House

    Just as an aside - i've had ITM puts assigned twice now. This was generally with 3-4 days remaining. This was during the big drop down when we were writing 800ish puts and we dropped to the upper 5's. The bulk of mine I was able to roll until they were able to be resolved (or in one case...
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    Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

    I don't particularly see the need to go back to the decisions from years ago - i trust that Tesla was making the best choices at the time (and I was around for a lot of those discussions anyway, as you said upthread, so again, no need to rehash). I also think your point above about using the...
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    Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

    You can have the position that it was the best possible option for them at the time, but still think it's not the most optimal in the current state of things. Clearly there are issues with attracting talent to Nevada if nothing else. I think those are worth discussing. Revisit decisions in...
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    Wiki Selling TSLA Options - Be the House

    Based on where things are today, I opened a set of the +460 -560 Jul30 bull put spreads - very similar to the ones that adiggs was looking at earlier. I figure this "feels" like a low to me. I'm a LOT more wary about opening cc's this week. I've actually only got puts and put spreads open and...
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    Wiki Selling TSLA Options - Be the House

    I have a lot of angst playing CC's into this type of environment where we all expect it to pop, esp with earnings coming up. That said, i did add one 860 for next week - got it when the SP was over 750, and i'm ok with an assignment on that - it would be the other side of the wheel from my 820...
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    Wiki Selling TSLA Options - Be the House

    I don't unfortunately. I was out of pocket all day tuesday so didn't spend any time looking at the console, and they were called away overnight. Woke up to that msg from TDA. I was also keeping a good amount of cash in the account for this eventuality (and for the occasional call buy when...
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    Wiki Selling TSLA Options - Be the House

    They were april 1, called away that tuesday, the 30th. I only really bring it up because of the posts just upthread where people were comfortable with DITM puts not being called away. For the newer folks, yes, it can happen, and you better be prepared for it :)
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    Wiki Selling TSLA Options - Be the House

    Just as a minor FYI. I had 2 of my ITM puts exercised early on tuesday during the short easter week. They were in the 820 range. I had cash+margin to cover so not a big deal but I was a bit surprised by the early exercise. It’s also letting me play the other side of the actual wheel instead of...
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    Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

    Lowest was at $23, split adjusted to $4.6. Highest was an assigned put at $820. So 815ish spread
  48. T

    Wiki Selling TSLA Options - Be the House

    Pulling this out - i'm definitely paying attention to what my options are. I'm targeting later in the week to roll, as you say, looking to eek out the time value from the current positions. I also wouldn't complain if the rally continues the rest of the week and i can get closer to closing...
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    Wiki Selling TSLA Options - Be the House

    Really stressing the "roll ITM puts" strategy for the first time for me. I've got some upper 700's and a couple lower 800's sold Puts expiring friday that are obviously deep ITM now. Per the "adiggs rule", it's interesting to me to get to experience this playing out first hand. Gives me a...