Nah, it keeps the riff raff out....
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
I chickened out and rolled my 735c positions as well. I didn't feel like I had enough information yesterday to bet on a call wall forming at 730, but there's a technical resistance (probably now a support) at 732, so I thought 735 might work out. I rolled up to 765c (another technical resistance) and out to 9/17 for a small credit. My thought is that by moving to a lower delta position, I'll put the breaks on the rate of loss vs. holding until Friday. Meanwhile, since that's quadruple witching, I expect there to be significant volatility at some point leading up to that expiration. My plan is to close this out on a dip for a gain, but not wait until expiration unless I absolutely have to.
I like the look of the call wall at 740, so I'm leaving my 740c and 750c positions on.
Also STO 720p/670p @ 5.25 this morning on the dip, so that should lessen the pain if I'm wrong about 740 holding. 750 looks solid (I hope!).
I like the look of the call wall at 740, so I'm leaving my 740c and 750c positions on.
Also STO 720p/670p @ 5.25 this morning on the dip, so that should lessen the pain if I'm wrong about 740 holding. 750 looks solid (I hope!).
InTheShadows
Active Member
There already were threads like those back when I was an options noob.Nah, it keeps the riff raff out....
Newbie Options Trading
First, before anyone laughs, I understand the title is an oxymoron. In my defense, everyone has to start somewhere and either get burned and quit or get better and keep going. The reason I am starting this thread is I've noticed lots of newbies asking questions in several other threads about...
teslamotorsclub.com
And the advanced thread.
Advanced TSLA Options Trading
Now that we've got a thread for newbies, it seems appropriate to have a thread where we discuss advanced options trading on TSLA. My first idea was a "sell TSLA and enter a Syn Long, plus a spare Call" - but with the stock up so much recently, I'm thinking a better first post is "lock in some...
teslamotorsclub.com
I might go through these to see how stupid I was back then. And I know I was because I know how many shares I had at one point back then.
Yeah, there are a couple of other threads too dedicated to Options.... however this is the defacto options thread now, despite what the thread title is.There already were threads like those back when I was an options noob.
Newbie Options Trading
First, before anyone laughs, I understand the title is an oxymoron. In my defense, everyone has to start somewhere and either get burned and quit or get better and keep going. The reason I am starting this thread is I've noticed lots of newbies asking questions in several other threads about...
And the advanced thread.
Advanced TSLA Options Trading
Now that we've got a thread for newbies, it seems appropriate to have a thread where we discuss advanced options trading on TSLA. My first idea was a "sell TSLA and enter a Syn Long, plus a spare Call" - but with the stock up so much recently, I'm thinking a better first post is "lock in some...
I might go through these to see how stupid I was back then. And I know I was because I know how many shares I had at one point back then.
Not sure why its not stickied either at the top with the "round table" since this thread has more views and replies than any other thread outside of the stickied threads.
I like it here more than any of the other options related threads because it is more of a hive mind "learning center" where ideas, strategies, wins and losses are discussed.
Most others are seeking or giving advice from a poor "not advice" frame of mind - IMO
That is the most important part, the talking through it - just glancing through the 2 you linked - and you can see questions being answered as if it was gospel / instead of - why did you pick this, why those strikes, do you have a management idea if the position moves against your theory.
Either way - I appreciate everyone's contributions as noted many times by myself and others, we are all learning profoundly in real time how to best manage options and strategies.
InTheShadows
Active Member
yea this one is way better IMO. It was weird though seeing old names that are no longer around. I just skimmed through some of the pages in the advanced one. I remember that thread talking about spreads, butterflies, and IC's.
The later pages of those threads though are why I learned to hate people that say "Follow my trade". It does nothing for developing the individual as a trader.
This thread is amazing with the wealth of knowlege and the strategies it contains.
I'm currently sitting on 40x lccs 9/3 which are spread at 720, 730, 740 and 750. Mixed between Roth and personal accounts representing a fraction of my shares, but it still hurts a bit.
That 9/17 triple witching call wall is my dearest friend at the moment. Looking to roll Friday the personal account calls so I don't have the tax burden. But happy to get the Roth shares called away if SP goes above 750 by 9/17 and hammer puts for a bit. Haven't done that yet in the Roth!
That 9/17 triple witching call wall is my dearest friend at the moment. Looking to roll Friday the personal account calls so I don't have the tax burden. But happy to get the Roth shares called away if SP goes above 750 by 9/17 and hammer puts for a bit. Haven't done that yet in the Roth!
When the price was at $738ish earlier I opened a bunch of call spreads -750/770 to see how that works.
corduroy
Active Member
Sold 10x BPS -700/+600. I put the order in pre-market and surprised me that they just filled.
dc_h
Active Member
Thanks to inspiration and learning from this thread, I did not roll 735cc's and filled a 695-675BPS that I setup this morning and thought might hit on a pullback. I was worried earlier today, but got busy with work and let the market makers do what they do. My 735cc's may still be exercised and my 750's too, but the trend this year seems more contained than the 2020 runs. The downside is our premiums are likely to continue to decline until down the road Tesla is paying a dividend.
Sell short-term calls for a similar strike against it to minimize that impact.
i have dec 900c & sold nov 930c against it. that gives up upside for half of the duration (even if the 930c go ITM i can roll), but theta balances out (only -0.03 instead of -0.24) and delta-impact is reduced (0.08 instead of 0.22).
If SP drops, just close the first call. if SP rises, then you can roll the short call out & up & still take good advantage on your LEAPs (although profits will be limited!).
For the 900/930-thingy i have i bought the 900c for $30, sold 930c for $10. if we land @930 in nov, then the 900c will have $30 intrinsic and ~$25 extrinsic value. + the $10 from the 930c i part them for $30 -> $65 and give up any profits above that.
Not advice .. it is just what i would do. And some things i do are stupid - as others also have noticed around here
While the stock is in a lull right now, I think there's still plenty of volatility ahead.
InTheShadows
Active Member
That looks like a significantly unbalanced put call ratio.
dc_h
Active Member
Agreed, the next couple of years there should still be considerable volatility. With 50% + growth, the stock valuation is subject to big turns based on minor changes in the outlook. But the golden premiums adiggs and Lycanthrope were gathering earlier may be gone forever. The more people getting on the gravy train, the slower and more stops the train needs to make.
InTheShadows
Active Member
I’d like to say thanks everyone. Managed 13.44% gain this month, thanks to all of your collective ideas and strategies. This is my second best month ever percentage wise and the other one doesn’t count IMO because it was buying OTM lotto calls. $ wise it’s #1. This is replícate-able though but probably only at 1/4 of this rate.
AquaY
Member
Congratulations. That’’s impressive.
I had my best month too but I didn’t track the ROI closely. Just total $ which was huge .
I will track it for this month (Sept) though.
AquaY
Member
I think the real “problem” is the more and more people realize Tesla is not only real but the leader in the industry the volatility is reduced.
The FUD media has helped us because they are fighting the tide
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