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Wow, what a week. My account is in the middle of a transfer to another broker so I am in a trading freeze. That probably saved me from selling some unfortunate calls. Nice to seem my remaining Dec -145 puts firmly OTM now. Good luck everyone.

I added some cheap insurance puts today. I hope I'm proven wrong and don't need these, but I'm not trusting this rise will hold.

Just my opinion, and we still could go lower, but selling calls when we are still at 5 year lows of RSI does not look like a good idea.

In my opinion there is nothing overly risky about selling BPS. They can still be a smart trade and offer a defined risk with multiple management possibilities. If used in a "relatively safe way". My 2 main rules of relatively safely trading BPS would be: - Only trading them as cash secured...

If put buying is drying up, it sounds like a good time to buy puts (for hedges).

I think another problem was, most of us considered TSLA "safe". We all learned that is definitely not the case. The company might have a bright future, but the stock is another story. It can disconnect from the company performance and stay that way longer than we can stay solvent. I think your...

I think we all got too cocky with TSLA. Especially putting aside tried and true investing strategies like diversification and going "all in". You should never set yourself up to be completely wiped out by any single position, even if it goes to 0. I know I was blinded by the love of the...

Surprisingly enough, BPS. Losses came twice on CCs, twice on BCS, and one time CSPs (closed yesterday for loss).

Well, thankfully we are at the end of another (crazy) year, so I totaled up all the results from my trading spreadsheet. Putting aside the huge crash in my portfolio value because of TSLA, and trying to look on the bright side - overall the options trading did pretty well. Total cash return was...

I've been on the fence about what to do about my DITM CSPs. They have been assigned 5 times and I keep selling back in the last couple weeks - mainly as a way to keep stalling and see what happens. Will we recover coming into earnings or head back down under $100? Who knows. Since I couldn't...

Are we now at the lowest RSI in 5 years?

Who would have thought Chicken's price target was wrong for being too bullish.

Some sad posts on here today. I think it's hard for our family and friends to understand what this experience is like, but it's great that we have this place where we can relate with each other. Hang in there everyone. I ended up selling all the assigned shares and re-selling my puts out to...

Looks like the Santa rally started, but Santa is keeping TSLA on the naughty list.

Got assigned on all my 1/27 -245s and -250 puts. I'm not sure what I'm going to do, probably sell them back.

The big question for me is, what is the effect on the overall investment thesis from recent events? Aside from macro conditions: For every market, there is a pool of buyers (TAM). That pool has been reduced. We don't know how much. The brand value has been diminished. We don't know how much...

RSI now at 24.5, just ridiculously oversold at this point.

Chicken is buying

After my leaps getting completely wrecked, I personally would only buy shares again. But I'm not bullish enough to buy shares now. Maybe next year.

Why not? STO IC 12/23 175/185/135/125 .70

I disagree. From what he has been saying, he is a lot like most of us. He loves his Tesla and thinks its the best car ever. Loves the company and the fundamentals. But he was able to look at the current macro environment and realize we were going down (even without the Twitter debacle).

I will henceforth refer to Chicken Genius as "The Oracle".

Almost sold my about 20% of my shares to close my -250 and -245 Ps and be rid of them, but held off. I keep thinking about my big loss last year on the Hertz BCSs. With those, if I would have just held on 1-2 more weeks I would have got out with no loss. I'll see what next week brings. Still...

We are at 2+ year lows. If you bought any TSLA since Nov of 2020 it's now underwater.

I think reason is simple, Elon has torched the brand to a point that people just want out. Case in point: I got a call from my 78 year old mom last night, whom I had convinced over the years to buy several hundred shares of TSLA. She "can't take reading about Elon anymore" and wants me to sell...

I 'd probably be a little more tickled if I didn't have DITM puts.

Imagine where solar/battery storage will be in the 30 years it takes for fusion to become commercially viable. So cheap that fusion will probably be irrelevant. Not to mention model of everyone connected to a centralized power plant is unsustainable . Energy produced where it is consumed is...

One reason is to play the IV crush. Not sure if this was the case with TSLA, but SPY premiums were crazy high before the meeting then collapsed after. I made some good trades today around that.

Amazing, it's like the whole green section never even happened.

I would have not thought it possible, but I am questioning my investment thesis on TSLA. I was right about the company, right about the timing, right about EVs and the tech. What I didn't anticipate was that Elon himself would be the black swan I was always worried about. Yes, TSLA would be...

I had my finger on the trigger to buy puts but made the mistake of feeling slightly bullish, so I hesitated. That was definitely a mistake.

Elon: "Hold my beer"

Hoping for some suggestions here for some long calls in my IRA. I don't trade much in my IRA, mainly it's my HODL account. These were LEAPs purchased almost 3 years ago as Jan 2023 $400s, rolled up to Mar 2023 $600 at one point and now split to Mar 2023 $200s. They were obviously DITM and up...

I've been buying SQQQ as a hedge. It's nice to have one green stock in my portfolio these days.

Closed these at 90% profit. It's sad that these were safe with all the good Tesla news this week, but here we are.

I sold some -200Cs for Friday. Should be totally safe once the next EM Tweets hit.

As long as Elon is running Twitter, it seems like selling ATM calls would be a no lose strategy.

Looking at where we are in the trading channel, I can't bring myself to sell calls. Seems like it would be the equivalent of selling puts at the top of the Hertz run last year. Of course, we could go back to 150 and they would be a great idea, but I'm thinking that is less likely now. So I'm...

Perhaps Chicken Genius really is a genius with his $140 PT?

I posted some a couple months ago: Wiki - Selling TSLA Options - Be the House I'm still doing basically the same thing. These are high frequency, low risk trades - no big bets. $10 spreads on each wing, looking for .60-.70 credit per contract with around .10-.15 delta on the short legs. 1-2 DTE...

Just to add my .02. I've been trading SPY for a little while, mostly 0-2 DTE ICs. According to my trusty tracking spreadsheet 70/70 successful trades so far. For me there are 2 big benefits: 1. No Elon selling, key man risk eliminated 2. The 5 day per week expirations allow for a huge expansion...

Off topic FYI: SPY and QQQ are now adding Tuesday and Thursday options so there will be options expiring every day of the week going forward. I've noticed this has already affected SPY premiums this week.

Thanks for this tip on that ripster indicator! I'll give it a try. I have also been using the God Number Channel V2 indicator on Tradingview for the last few weeks to see reversals. It uses fibs to overlay color coded reveral zones on the chart. Looks like this:

My -205s calls that I sold on the bump yesterday closed out. I was optimistically hoping to have to manage those. Now I'm just holding the 12/23 perma rolled -245, and -250 puts. Unrelated to TSLA, my first buy write experiment just ended on AMZN, I made $4.30 in total. I ended up trading in...

Thinking this would be a great day to buy some hedging, if one expects this to be a short bounce. I just know if I do, that would guarantee a sustained rally.

This relentless slow drop is killing my ITM puts. Having to roll the second time in 3 days. I'm just trying to survive this and I think I'm only trading SPY ICs from now on. I've reached peak Elon and Twitter fatigue. Maybe this is what capitulation feels like?

Just one data point but the only time I tried selling ITM puts because I was bullish was one of my biggest early losses.

I'll probably get disagreed to oblivion for this, but my investment thesis has changed. I think Elon has fundamentally damaged the Tesla brand and that will materially affect the future trajectory of Tesla. Tesla makes a fantastic product, but brands and public perception do matter. Look at an...

I had a lot of trouble getting fills as well. I had to go well under the midpoint which usually isn't the case. Seemed unusual. I rolled my -245 and -250s out to Dec 2 as they went negative extrinsic today. 😫