IF POSSIBLE, please also track next week (ie dec 15 vs 14) so we can see in advance how next week is doing, THANKS
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Cory now talking about SP targets at $155 and $138... how reassuring 
. When he hit $166 in November he was saying that Tesla was in capitulation mode and that it was a buy lol.
Also, what the hell is going on with Nvidia? it is up 53% since mid October and only down 43% for the year. I guess it proves that it is possible for some tech stocks to go up even if the macro is taking.
. When he hit $166 in November he was saying that Tesla was in capitulation mode and that it was a buy lol.Also, what the hell is going on with Nvidia? it is up 53% since mid October and only down 43% for the year. I guess it proves that it is possible for some tech stocks to go up even if the macro is taking.
EVNow
Well-Known Member
The 182.5/187.5 spread finally got executed... a grand netting of 25 cents.But where is the fun in 3% per week
BTW, since I placed the order, SP went down and the premium now is 15 cents.
Market are dumb. Just look at NVDA revenues and earnings. Negative revenue growth and earnings growth over the past couple of quarters.
There was a time when NVDA and TSLA used to trade very similarly. Patience. Our time will come. Maybe we don’t even have to wait till Q4 earnings report.
I'm getting more prepared for a big move to the downside if CPI reaction is negative in the markets. Right now the QQQ is barely above the 50 day MA. Dan Shapiro is saying that if the market takes that out, rip out your "buy button" because everything will trend down the rest of the year. Obviously, that would not be good for TSLA as we are close to the 52 week low, and falling below that would represent a major macro break. If that happens, 150 or lower could be in play. I've ended up selling 5,000 shares the last couple days, and selling some Puts for next week at 165 and 170 (for nice credits) that I can roll further down/out if the SP keeps going lower. I will sell another 5,000 shares if we break 169/166. My goal would be to rebuy the second set of shares at 150 or below if it comes to that and have extra cash from selling high and buying low.
The big mistake I make in day-trading shares is that I don't use stop losses well. I wait too long for things to play out and then I can have big losses. I had sold 5,000 shares before the last CPI at 181, only to have the SP rocket up to 198. I thought we were finally going to see a Bull run and bought the shares back at 198. When the SP started to come back down, I didn't sell them for a few dollar loss when I had the chance. Now I have a $25 loss/share. Stupid. I've decided I'm not going to try to get these shares back after selling them again, but just use the cash to sell CSP and play the wheel. Option losses happen when you refuse to take assignment. I have to be better at rolling when I can for credit or better strike (including doing so by selling the other side of a straddle/strangle), or just taking assignment for the wheel. No debits going forward. I need to pay myself for what I'm doing, and stop worrying about my share count.
The big mistake I make in day-trading shares is that I don't use stop losses well. I wait too long for things to play out and then I can have big losses. I had sold 5,000 shares before the last CPI at 181, only to have the SP rocket up to 198. I thought we were finally going to see a Bull run and bought the shares back at 198. When the SP started to come back down, I didn't sell them for a few dollar loss when I had the chance. Now I have a $25 loss/share. Stupid. I've decided I'm not going to try to get these shares back after selling them again, but just use the cash to sell CSP and play the wheel. Option losses happen when you refuse to take assignment. I have to be better at rolling when I can for credit or better strike (including doing so by selling the other side of a straddle/strangle), or just taking assignment for the wheel. No debits going forward. I need to pay myself for what I'm doing, and stop worrying about my share count.
No in this case I don't think the market is dumb. It's clear what the market prefers here
I think I mentioned in a previous post I quit day trading. The market is so wierd now and mistakes aren't forgiven easily (as opposed to 2020 uber bull market, if you sold just buy at a higher price to sell at an even higher price). I found that if you made a mistake it could sometimes lead to you riding the elevator down twice. I think you probably felt this first hand just now selling at 181, buying at 198 now riding it back down to sub 181.
It can kind of do your head in because the emotions you feel as the stock goes up makes you think you made a mistake and you want to get back in, then suddenly it reverses but you don't want to just paper hand and sell out straight away because intraday moves can be quote volatile with TSLA. So you hold and then suddenly you are left with another ride down.
I do think something like the wheel is better, it's not quite day trading but you remove a lot of emotion out of it and you have clear and set entry and exit prices.
Not sure whether this is what you are wanting to see. The script processes the expiry based on the closing pricing as of Dec 8th. This is looking at the 16th based on Dec 8th OI and gamma for each strike. There's about 40k of OI at p150 (scary), 22k at p165, 18k at p180 ... gamma peaks at 175 with OI about 12k. But there's just as much interest at -c165 and above... c173.33 with 16k of OI.
I thought 2 years low would be a great bounce. However seems like we had bull traps. This bear market is ruthless. I am about to sell ATM CCs on my whole shares.Cory now talking about SP targets at $155 and $138... how reassuring
Also, what the hell is going on with Nvidia? it is up 53% since mid October and only down 43% for the year. I guess it proves that it is possible for some tech stocks to go up even if the macro is taking.
I’m about 60:40 CCs & CSPs 185 straddle for Jan23, which seems risky enough to me. I think selling ATM CCs on everything is a really bad idea when we’re near the 2-year low. Of course, you do you, but wow that’s dangerous. Be careful. Edit: sorry about giving you a disagree. Changed.
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I can understand the temptation, but it's hellishly risky from here unless you allow the shares to be called, but a cold CPI print next week could easily rally the markets again, who knows, maybe the FED come with a 0.25 or maybe no rate hike, yes it's unlikely, but unlikely things happen this year - can be that you're OK to sell all the shares, then go all-in on puts and do The Wheel on steroids - that indeed could be profitable if we keep seeing the current volatility, who knows, it's a risk
I'm thinking to be more aggressive next year, but I won't go all-in an ATM cc's, well depends on the SP, if we were at 300 then I would, but below 200, more like 10x - 20x contracts to allow an easy escape scenario in case the stock takes-off
SebastienBonny
Member
Why would Tesla do that? Unless they want production numbers closer to delivery numbers (no car made in the last week of the year will reach delivery in that year).
bkp_duke
Well-Known Member
LoL. If true, huge if . . . that's one week.
Which, is coincidentally the typical downtime for maintenance on a line.
Big nothing burger, one way or another.
SebastienBonny
Member
You're welcome!
converted 12/16 -p175 to -p170/+p150, maybe will still move it lower
edit: now at 47% and tempted to just shut it down
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