Wiki Selling TSLA Options - Be the House

[elasalle]

Quick question, what's your rationale on selling CCs when the stock is down 3-4%? I usually only like selling calls on green days as the premium is always better.

Or do you not worry as much because they are dated so far out?

Need money to buy Leaps which are also down in price. If you are both a buyer and seller, some of the things balance out.
$400 is like 1200 ATH. So I am good with that as well - exercise or manage. When you sell at a price point where you no longer fear losing the shares, decisions can be easier to make. cheers!!

 

[BornToFly]

I have 10X CSP 300 for today. Rolls aren't great. I'll probably take assignment, and look for a pop next week to do CC on the new shares.

 

[bballshinobi]

Short squeeze kept us up despite the macros crashing, so we should see $200-250 fairly soon.

 

[Yoona]

I have 10X CSP 300 for today. Rolls aren't great. I'll probably take assignment, and look for a pop next week to do CC on the new shares.

if CC income is too low, another option is to try the Stock Repair Strategy

| Stock Repair Strategy: Using Stock Options to Reduce Losses When Stock Price DeclinesThe Blue Collar Investor

www.thebluecollarinvestor.com

buy +c x1 and sell -c x2, this lowers the cost basis to the -c's strike

 

[ZeApelido]

Me opening up 9/30 -280/180 BPS yesterday after months of decent profits.

 

[OrthoSurg]

Short squeeze kept us up despite the macros crashing, so we should see $200-250 fairly soon.

If I ever see 200, I buy 1000 shares or I sell 10 ITM puts at 220. I have yet to decide.

I started doing medicolegal expertise the last 6 months and accumulating that extra income for that exact moment the SP reaches 200.

Bring it on.

 

[SebastienBonny]

STO 295 CC for next week @1.5.
Easy to roll to 300 (avg cost base) for 10/7 for credit if needed.

 

[Max Plaid]

Short squeeze kept us up despite the macros crashing, so we should see $200-250 fairly soon.

Only way this happens is if the P&D is a "miss" (whatever that would be...), I'm expecting a slight beat, but in the current environment that's a big deal when all other manufacturers shitting the bed and Tesla come with a record quarter... It's one reason I've been careful to keep hold of my shares

And was a ludicrously profitable week as I had 15x -c293, 75x -c300 & 15x -c310, all bought "on the pop". The sad part is that I didn't sell for next week yesterday, so just had to take some slim pickings today - yes I could wait until Monday, maybe we get a recovery, but then again maybe we don't...

So next week's trades are 75x -c300, 15x -c280/10x -p280 = a lopsided straddle... only around 1/3 of this last week's premiums, but very low risk trades

 

[BornToFly]

I took the shares on the 10X 300 CSP and will see about selling CC next week if there is any kind of recovery.

 

[Max Plaid]

I took the shares on the 10X 300 CSP and will see about selling CC next week if there is any kind of recovery.

Take the $1 for the -c300 with zero risk

 

[BornToFly]

Take the $1 for the -c300 with zero risk

I want more.... I can wait a few days.

 

[CHGolferJim]

Closed the remaining 9/30 -c$315 this AM (looked a little risky until a few days ago) for $0.40, ~85% profit. Now need to garden the springtime $320-$325 down and in, if possible. Thanks to the modern internet I could track the option values and follow TMC over the past few days, and make the trade, from Ecuador.

 

[Discoducky]

Capitulation test this coming week (testing the supposed 'June lows') and I've got some cash for LEAPs if it comes to that. I'm watching the 17 Jan 25's!

Super chatty Fed week ahead, so hold on for a potentially bumpy ride!

 

[BornToFly]

Capitulation test this coming week (testing the supposed 'June lows') and I've got some cash for LEAPs if it comes to that. I'm watching the 17 Jan 25's!

Super chatty Fed week ahead, so hold on for a potentially bumpy ride!

Aaargh. I am not having a very good weekend. 5 days ago I was feeling pretty good. Now I'm stressed out about my Dec. ITM BPSs. I also have -250/+225 for this Friday that I'm now worried about. The drop the last 3 days has me spooked. Are we really going to drop below pre-split 750 the last trading week before Q3 P&D? Will the current owner of the crystal ball please tell me what is going to happen...? Thank you.

 

[FlamingPIG]

Aaargh. I am not having a very good weekend. 5 days ago I was feeling pretty good. Now I'm stressed out about my Dec. ITM BPSs. I also have -250/+225 for this Friday that I'm now worried about. The drop the last 3 days has me spooked. Are we really going to drop below pre-split 750 the last trading week before Q3 P&D? Will the current owner of the crystal ball please tell me what is going to happen...? Thank you.

This is Tesla, stock goes up or down 20% every month, you just gotta have faith in its fanatic cycles and never give up.

 

[juanmedina]

My 401k is down 30% from the ATH while Tesla is down 31%, I am really impressed. For us to go back to the June low Tesla would have to go down by 22% next week.

 

[BornToFly]

Powell is just killing me/us. I've been waiting for Q3 ER hoping for a rally, so I'm trying hard to give it one more month before deciding if I roll my December ITM BPSs to Jan 2024, but history shows that market bottoms are far more likely in October than September, so we might go down another 20+%. Rolling to 2024 will cause many problems. 1) Lots of margin will be tied up for another 15 months, severely limiting my income potential until they expire, effectively costing me several million dollars in lost income next year. 2) I will lock in a multi-million dollar loss for this year that I will have to deduct against capital gains the next two years (and that may be difficult because I don't know if Turbo Tax, which we use to do our taxes, will let me do more than $3,000), which means finding a good tax attorney (happy to get referrals from members here). 3) If the SP falls farther in the next month despite blow-out Q3, it will cost me even more to roll to 2024 than it would to do it now (I could have rolled for free when we were at 310).

 

[Buckminster]

https://twitter.com/x/status/1574066513354653700

Mostly just hedging @Max Plaid CCs.

 

[MP3Mike]

I don't know if Turbo Tax, which we use to do our taxes, will let me do more than $3,000

It does.

 

[OrthoSurg]

Aaargh. I am not having a very good weekend. 5 days ago I was feeling pretty good. Now I'm stressed out about my Dec. ITM BPSs. I also have -250/+225 for this Friday that I'm now worried about. The drop the last 3 days has me spooked. Are we really going to drop below pre-split 750 the last trading week before Q3 P&D? Will the current owner of the crystal ball please tell me what is going to happen...? Thank you.

From a TA analysis stand point as per Cory If we break below 270 which is the H&S neckline we might go down.