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Wiki Selling TSLA Options - Be the House

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I had 15 9/21 -300p in my IRA that I was simply able to roll for a credit to 9/30 -300p. At times like last Friday, I am SO THANKFUL to have learned my lesson about spreads. Not having to worry about being margin called at times like those makes up for missing out on those sweet sweet premiums with selling spreads.

So if zerohedge is right, and we've bottomed out, GREAT! And if they're wrong, it's okay too, I'll just keep rolling. Not advice!
 
You know how it is though, the more puts, the more likely the Hedgies/MM's are going to flip it to the upside to wipe them out...

I've done way better with my trading since I became more contrary/cynical about the markets, but it's quite the dichotomy when you're a TSLA permabull
Unless the Hedgies/MMs were the buyers.... :eek:
 
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"There is attention being paid to the record-breaking “put buying” (by small lot traders, 1-10 contracts) and put volume traded data that was released by the Options Clearing Corp on Friday.

While this is true, the headlines which are grabbing attention fail to address one key aspect here - The sell to open premium that was also done on Friday. This premium is also at a record level, surpassing the size that was sold to open in 2021.

To put it simply, the buying (to open) and selling (to open) offset each other. The massive volume done on Friday was not purely buying, and nor was it heavily biased towards retail either.

While pouring over the data from the OCC, we came across an interesting find that isn’t being talked about - The ETF (QQQ, SPY, etc) flow.

Total premium bought and sold (for both open and close) shows levels not seen since 2020. This is indicative of heavy puts being closed (or sold to open) in this past week. This has been associated with near-term bottoms in the past, so something to keep in mind. This is perhaps the most interesting piece of data from Friday’s close."
 
have some 100 CC's against Leaps to sell, can't decide whether 300 is safe for this Fri? ... I guess will wait for a bit more
+Fri is interesting, both AI conf and Q3 numbers will occur only after market close, so everything will be just FOMO based, along with under lying market

Mixed market signals, indexes, Bonds, VIX, Oil all green ... +VIX finally went below 30 and red .... trends
 
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I had a horrible night's sleep. Awake the last two hours thinking about pre-market and how I would save my portfolio if TSLA kept dropping. I have a headache, but I'm happier for the moment....
Count your blessings, it's not the end of the world - you have Teslas and a sleek, fancy jet. And millions in the bank.

Compare that to my son's dilapidated rickety rental Cessna (below is him flying). And he has a part-time job to pay for his bills.

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In other news: STO 10/7 -p290. Happy to be assigned, if it happens.
 
Count your blessings, it's not the end of the world - you have Teslas and a sleek, fancy jet. And millions in the bank.

Compare that to my son's dilapidated rickety rental Cessna (below is him flying). And he has a part-time job to pay for his bills.

View attachment 856998

In other news: STO 10/7 -p290. Happy to be assigned, if it happens.
😅 I learned to fly in a 1960s Cherokee, with literally half the instrument panel covered with In-Op stickers. I just kept telling myself that my plane had been flying successfully longer than I had been alive. Hopefully it wasn't going to fail on the day I was flying it!....

I just don't want a market crash to force me out of my jet and back into the Cherokee! 🤪
 
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.
We might have the same sold puts for December, the 383.33 ? There's about 2.97 left of extrinsic at $278.70 , not much. Rolling one of my spreads (333.33 long side) to January '23 same strikes for a debit adds 1.7 approximately. I may do that to stay buy time for anything that can help lift the price some. Rolling out further, in my case, costs more with minimal added benefit , thinking that short term it's still possible to get a beat for Q3. Thoughts?
 
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We might have the same sold puts for December, the 383.33 ? There's about 2.97 left of extrinsic at $278.70 , not much. Rolling one of my spreads (333.33 long side) to January '23 same strikes for a debit adds 1.7 approximately. I may do that to stay buy time for anything that can help lift the price some. Rolling out further, in my case, costs more with minimal added benefit , thinking that short term it's still possible to get a beat for Q3. Thoughts?
Yes, I've been torn. Once I roll past December, I'm screwed in terms of tax loss. My worry with paying a debit to roll out one month is that I will have to pay another debit to roll it out to 2024 if things don't turn around - and the problem is Macro, not Tesla. I've been trying to slowly manage and maybe get half of them to 2024 with little to no debit. Then I can hopefully deal with the rest, but time is running out if the SP doesn't start climbing (in terms of early assignment risk).
 
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"The Ascending Triangle can be seen with the horizontal line of the upper trend meets the lower trend line which is sloping upwards. This is a bullish continuation pattern which can be expected to produce a bullish break of the horizontal resistance following trading within the pattern’s trend lines. The ascending triangle pattern can be identified by its generally flat resistance level to the top and the lower side which slopes upwards as the prices attains higher lows.
It is usually a signal of weakening resistance and indicates that a breakout may be approaching on the upside. The higher lows are an indication that the bulls are gaining in strength which represents a potential buying opportunity."