Overnight was assigned my 325 P for December 16...
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Hopefully that is a good thing, and we can start the rally now....
that's exactly what i did yesterday, +67% overnight... my simple logic:
- if CPI is very bad, this CC prints $
- any other CPI, this CC still prints $ since too many sellers at 223
- i may close this today in case tomorrow is reverse to green day
i was right last Fri about 206, let's hope that is bottom coz i am really, really, really running out of patience with tslatoday's Close=223.07, prediction 2 days ago only off by 1.40
next supp maybe 212 or 206, watch out for next week's CPI
i might copy this aggressive extrinsic play for half my garbage buy-write shares, thx for the idea
KBF
Model X owner (formerly Cdn Signature Model S)
Here's a hot take narrative pretending that the FED actually has a plan based on logic:
I wouldn't be surprised if they plan to keep the panic and fear going until around Christmas, to 'save consumers from themselves'. It's tradition in the West to way overspend and debt skyrockets before Christmas. This habit would be unfortunate if it continues this year.
I don't anticipate being able to sell anything to generate cash until 2023 - serendipitously I wasn't banking on it due to tax considerations anyway.
Just remember that during these emotional 'crashes' - there's nothing wrong with the vast majority of businesses that are actually producing meaningful goods and services, and someday things will straighten out (or, worst case scenario, nuclear Armageddon happens, but then any cash you had on hand is worthless anyway, so your investing decisions don't matter any more).
But it is a good reminder to me why it's a real gamble to trade options or play with borrowed money in general, and I don't need that kind of stress in my life so I stay away.
Edit: sorry, I thought I was in the general investing thread - I really didn't mean to come to the options thread to say why I don't trade options! Though the Christmas part may be helpful for those looking for logic/rationales to base future strategies on...
I wouldn't be surprised if they plan to keep the panic and fear going until around Christmas, to 'save consumers from themselves'. It's tradition in the West to way overspend and debt skyrockets before Christmas. This habit would be unfortunate if it continues this year.
I don't anticipate being able to sell anything to generate cash until 2023 - serendipitously I wasn't banking on it due to tax considerations anyway.
Just remember that during these emotional 'crashes' - there's nothing wrong with the vast majority of businesses that are actually producing meaningful goods and services, and someday things will straighten out (or, worst case scenario, nuclear Armageddon happens, but then any cash you had on hand is worthless anyway, so your investing decisions don't matter any more).
But it is a good reminder to me why it's a real gamble to trade options or play with borrowed money in general, and I don't need that kind of stress in my life so I stay away.
Edit: sorry, I thought I was in the general investing thread - I really didn't mean to come to the options thread to say why I don't trade options! Though the Christmas part may be helpful for those looking for logic/rationales to base future strategies on...
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Yesterday I thought we hit the bottom and CPI will be good and start a recovery rally today.
Based on that expectation I sold some 700 shares and wanted to buy March.2024 LEAPs on the money.
However, IB did not let me spend the money on options right away, apparently due to the difference in share vs option settling time (2 vs 1 day), if I sell shares I can buy some other shares right away from that money, but if I want to buy options I need to wait an extra day.
Well, CPI came in hot, market dropped, so now I could buy some $200 strike March.2024 LEAPs cheaper ($68.8) than I could have yesterday ($78)!
Thanks IB, I guess.
Based on that expectation I sold some 700 shares and wanted to buy March.2024 LEAPs on the money.
However, IB did not let me spend the money on options right away, apparently due to the difference in share vs option settling time (2 vs 1 day), if I sell shares I can buy some other shares right away from that money, but if I want to buy options I need to wait an extra day.
Well, CPI came in hot, market dropped, so now I could buy some $200 strike March.2024 LEAPs cheaper ($68.8) than I could have yesterday ($78)!
Thanks IB, I guess.
dc_h
Active Member
I've sold CC's all the way down to 240 and closed Oct 14th calls now. I've only sold puts to close the wheel a short time ago (pun intended) for 290 and 305. I'm reluctant to sell more CC's at this point. I doubt we'll have a big rally on earnings, but there are many catalysts. The big problem is no companies seem willing to take margin compression on Fed signaling they will recession us, they will only take margin compression after we're in a full on recession. Hope I'm wrong, but earnings seem to show companies expanding margins and running with inflation. If we get more than 2 more rate increases, I'd guess 150 is not out of the question. I never thought we'd go below 250 again, now sub 200 & presplit 600 seem more likely than a relief rally.
I gave up on BPS after last years whipsaw. If we dip to 190, I think I'll dip my toe in and sell some 150-125 BPS. I hope it doesn't come to that.
I gave up on BPS after last years whipsaw. If we dip to 190, I think I'll dip my toe in and sell some 150-125 BPS. I hope it doesn't come to that.
Further proof that I am a Master Strategist -
Panicked at the opening and sold 1500 shares in my mom's IRA at 207. Realized I made a mistake and bought them back at 210. Noticed the price bouncing around 208, so I thought that if we hit 210 again, I can sell them, and buy them back at 208. Sold them at 210, and now the SP won't come down so I can't buy them back without losing more money. You're welcome mom....
Panicked at the opening and sold 1500 shares in my mom's IRA at 207. Realized I made a mistake and bought them back at 210. Noticed the price bouncing around 208, so I thought that if we hit 210 again, I can sell them, and buy them back at 208. Sold them at 210, and now the SP won't come down so I can't buy them back without losing more money. You're welcome mom....
219.39 is the 5 day MA. If we break that level I could see us going to 230 today!. Feels like a massive short squeeze going on in the market.
MOMMY!!!!!
My mom is selling her house for 1M and moving into a senior residency closer where we live. She wants me to invest her 1M in the stock market. I don’t know what I will tell her when I buy TSLA and it collapses another 50%
i think too early to be excited by tsla price action; this morning's climb was rejected by that 223 line; supp finally became res*perhaps* i found the significance of 223? i think it goes back to the 8/31/2020 5:1 stock split and been a strong supp for almost 2 yrs now
hoping that's the tsla bottom, even if there's an occasional intra-week drop below it
TSLA 3yr-1wk chart:
View attachment 862348
also, same as the last few days, sp is hovering around fib 61% (hi-low) by noon time; ~216
corduroy
Active Member
I sold some -260Cs for next week @ $0.85. If these aren't safe I would be ecstatic.
May have to do the same as this drop been depressing. A roll would be great news. Thanks for the reminder.
I was able to close 230cc for this Friday at .65 (down from 1.25 or so from yesterday close) despite the share price being up about $5 when I closed. Too bad I slept so well last night - if I'd been up with the market open I'd have had a much better close. NOTE: I prefer the sleep
In for $4, out for .65. Previously earned $2.
I'm very comfortable continuing to sell 230 strike cc - if my timing works well I'd like to pick up some strike to strike gains as well, though that's not a priority.
In for $4, out for .65. Previously earned $2.
I'm very comfortable continuing to sell 230 strike cc - if my timing works well I'd like to pick up some strike to strike gains as well, though that's not a priority.
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