Wiki Selling TSLA Options - Be the House

[wnorris]

I am leaning toward a green week next week due to 1) index finished rebalancing, the rest of the year will be retails trading with each other 2)TSLA RSI daily is below 30 3) santa rally might happen

But I could be dead wrong.

I hope you are right. Nasdaq just spiked and TSLA did not move. It feels like a big entity(s) is either unloading a big position or simply hell bent on ensuring TSLA cannot rally. Either way we should be moving up with the indexes since we are sitting on major support at $150.

I'll be curious if we start moving at 3:30. Based on memory (possibly bad), past triple or quad witching events I seem to remember a last half hour Friday move.

 

[OrthoSurg]

So far TSLA not rallying with the QQQ into the close

I Closed my CC with 70% profit and an really hesitating to sell ATM CCs for next week. I am expecting a gap up for Christmas rally but the macros are trending down with the SPY and QQQ breaking support big time

 

[bingoz]

I hope you are right. Nasdaq just spiked and TSLA did not move. It feels like a big entity(s) is either unloading a big position or simply hell bent on ensuring TSLA cannot rally. Either way we should be moving up with the indexes since we are sitting on major support at $150.

I'll be curious if we start moving at 3:30. Based on past triple or quad witching events I seem to remember a last half hour Friday move.

How was it last time? Big up/down/sideway with volume???

 

[wnorris]

How was it last time? Big up/down/sideway with volume???

On 16 Sept we closed at the HOD around $303. Different times back then...

 

[Yoona]

Double Bottom detected

View attachment 885754

Triple! Bottom detected, they really want 150 but the 3 lows are going higher

 

[OrthoSurg]

I put a STO order for 23/12 155CCs at 4.00
Is it going to hit during the power hour?
Seems TSLA won’t budge and not following nasdaq, again.

 

[BornToFly]

Triple! Bottom detected, they really want 150 but the 3 lows are going higher
View attachment 885838

Yeah, I don't think they are going to let the 150 Puts win with 20 minutes left. I do wonder about next week....

 

[OrthoSurg]

Closed all 12/30 -c160s and -c170s in small account on the 2nd MMD. Waiting on the bounce to sell. Waiting…… waiting……. waiting…... Godot where are you? Rolled down a couple 12/30 -c170s to -c160s in the ROTH to have everything at the 160 strangle and bought another 20 shares.

Thinking about this some more, I can hardly believe that I’m selling CCs at 160, when I used to be scared selling them below 300. Apparently, Elon’s dump, and my selling fully cash/share-secured strangles has facilitated my complete conversion from investor to options trader. I think this must be the bottom (maybe not the SP, but certainly my belief in TSLA). At this point I don’t really care what happens to TSLA. Furthermore, with Elon still holding 100s of millions of shares, his future erratic sales will further depress the stock, at unknown points, and in drastic fashion. Thanks Elon. Let that sink in.

Yes, Elon « First in, last out » broken promise pretty much destroyed any credibility he had toward its investors when he used their money to buy a social media company. It would have almost been more acceptable if he did a poll about it or tried to buy Twitter through Tesla board and let it vote as a way to market Tesla cars. At least investors would have thought they had their word to say in this by voting during annual shareholder meeting. Now we just feel betrayed and inclined to sell ATM CCs to survive this black swan event manufactured by Elon. I still can’t believe we are exactly -50% in 3 months

 

[Yoona]

Yeah, I don't think they are going to let the 150 Puts win with 20 minutes left. I do wonder about next week....

the 12/23 p140/145 volumes are rising

 

[JustMe]

Welp, I made $2.82 trading today.

I declare victory

 

[samppa]

Yes, Elon « First in, last out » broken promise pretty much destroyed any credibility he had toward its investors when he used their money to buy a social media company. It would have almost been more acceptable if he did a poll about it or tried to buy Twitter through Tesla board and let it vote as a way to market Tesla cars. At least investors would have thought they had their word to say in this by voting during annual shareholder meeting. Now we just feel betrayed and inclined to sell ATM CCs to survive this black swan event manufactured by Elon. I still can’t believe we are exactly -50% in 3 months

Here's the thing: if we retail investors are sick of all of it, and many just want out of the stock.. what if you're a fund manager with a large stake in Tsla?
Not surprising if institutions are selling here.

 

[CHGolferJim]

What do we make of: SP trundling along between $150.04 and $152 all day since mid-morning, then as soon as the markets close it cracks $150.00?

 

[BornToFly]

Interesting. They waited until AH to drop below 150. Not sure the reasoning behind that one. Maybe they knew that after the stop losses were triggered and there was the initial large drop, it would eventually claw back during market hours? Maybe this way it opens even lower on Monday and gets to 140 sooner?

 

[Yoona]

Close=150.23 but 149.76 AH, does that mean -p150 lost today? (for those who didn't BTC)

 

[JustMe]

149.76 AH, does that mean p150 lost today?

I thought options could be exercised for 1-2 hours after market close, so the battle may not be over

 

[kabin]

Interesting. They waited until AH to drop below 150. Not sure the reasoning behind that one. Maybe they knew that after the stop losses were triggered and there was the initial large drop, it would eventually claw back during market hours? Maybe this way it opens even lower on Monday and gets to 140 sooner?

The way things are going it seems 140 isn't too far in the distant future. Even the e-mini sp500 gave back some at the close. I wasn't expecting that.

 

[vikings123]

Interesting. They waited until AH to drop below 150. Not sure the reasoning behind that one. Maybe they knew that after the stop losses were triggered and there was the initial large drop, it would eventually claw back during market hours? Maybe this way it opens even lower on Monday and gets to 140 sooner?

I thought options could be exercised for 1-2 hours after market close, so the battle may not be over

https://twitter.com/x/status/1603858959479099392

 

[Cherry Wine]

Interesting. They waited until AH to drop below 150. Not sure the reasoning behind that one. Maybe they knew that after the stop losses were triggered and there was the initial large drop, it would eventually claw back during market hours? Maybe this way it opens even lower on Monday and gets to 140 sooner?

Plus we have the "coup de grace" to look forward to over the weekend - who knows what that means. I left my 12/23 CCs open. Just bummed I didn't get the chance to open another long put position at a good price going into the weekend.

 

[vikings123]

@Yoona is that one of the biggest weekly drops we have seen on TSLA? Pretty sick, seemed like there was no uptick.

Sad but time to make money from puts. Nobody knows where the bottom is. Elon’s tone just keeps getting more antagonistic and detached from Tesla. The bottom will probably not be in until he sells some of his SpaceX shares.

 

[kabin]

I thought options could be exercised for 1-2 hours after market close, so the battle may not be over

They can exercise it later for sure but I think the final SP is the closing price so -P150 should be safe but it's all in the exchange contract. The fairest price is when there's more trading volume (i.e. normal trading hours).