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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
bballshinobi
Member
I think we go to at least $115, which is the 23% fib level using the ATH and the covid low
It all depends on the EV consumer but even now TSLA's trailing P/E could be high if there's a recession. And looking at forward P/E could be the ultimate bull trap.
TSLA volume was crazy today.
TSLA volume was crazy today.
If the stock starts to go back up, way up high, I am going to run a public service announcement and remind you guys to take some off the table. @Yoona advise of taking some of your option selling profit and put on your bank account is great advise. If I survive this I am getting rid of my portfolio margin account. Sadly if I had regular margin account I would have gotten margin called already and I would be in a better position.
Wasn't that what we got today and tanked the markets? Or am I missing something??
Ah, now I look again I see it's Q3 PCE, but this is the news that started the pre-market dump today
Something I started thinking about today and have decided to wait for tomorrow, but not next week, to act on -- I've got some 12/30 and 1/6 put spreads that are fully ITM. The short leg is getting deeply enough ITM that I'm probably rolling them tomorrow. Time value is getting skimpy enough on 160 and 170 strike puts that I'm worrying now about early assignment.
At this point all of the Jan, Feb, and April csp's in the 275 range have been assigned. I've mostly been selling the resulting shares, taking the loss, and hanging onto the cash.
At this point all of the Jan, Feb, and April csp's in the 275 range have been assigned. I've mostly been selling the resulting shares, taking the loss, and hanging onto the cash.
Sheesh. Didn't even know this came out.
Biggest mistake I ever did was trying to do all this while running a business.
OK, talk about ancient news nowadays. Don't think market needed any help to dump today it was all ready to go by itself, but I guess we can blame final PCE numbers that last applied almost three months ago... and 225 basis points on the Fed Fund rate totally not reflected there at all.
I hate it when CSP's go in the money. I was able to buy to cover most of mine between $200-$240. I'm still stuck with some 1/20 $240 CSP's that I'm super underwater on. Sigh.
The only buyers above the bid are those being early-assigned puts
SpeedyEddy
Active Member
We had 9 sequential down days in september, however at much much lower volume (and under still explicable reasons), the rebound is strong indeed as mentioned above, some people who can afford it won't sell in fear ever (like myself, since 2019). But I too have some -P in the game that can be assigned, resulting in selling. Then even I have to sell the assigned plus and a bit of my holdings to cover. Shorters are playing that game now, accompanied by loads of FUD in the BigOil&BigAuto-sponsored media. Sentiment down, money down, less sales of EV's. Every day of slowdown is representing 2,85 Billions of revenue (REALLY!) in the oil-industry. So they have deep pockets to finance a lot of BS.
-p240's must have very little intrinsic value, given recent patterns there's a strong chance they get early assigned, surprised they haven't been already in fact
Yeah, that's kind of scary. I should probably close some of this out soon since I don't have the cash if/when I'm assigned. Thanks for the reminder that early assignment happens sometimes. My mind has been in a headspin these last 2 weeks of getting pummelled so hard, day after day after day.
SpeedyEddy
Active Member
204 million shares = 7,8% of free float changed ownership today. Unheard of in a normal non-bankruptcy situation (Or IPO etc)
[Edit for a big-cap-stock [/Edit]
[Edit for a big-cap-stock [/Edit]
Hoping we follow this trend! It seems we are overdue for a general macro rally up. Elon should do a buyback here at these levels...one can wish!
SpeedyEddy
Active Member
No that is a strategy, but maybe not under pressure of margin. And what if the stock tanks further. You got premium, but maybe have to take an even bigger loss to really sell. The caller won't call.
I got assigned 11x -380 Jan25 puts Tuesday, I was waiting for a bounce to sell 11x ITM CCs to get rid of those shares and sell -350p instead with the money from shares called away
Finally sold 11x 100 30/12 CCs instead today when SP was 129 because it seems there was no relief bounce for us. So I lost and should just have sold the shares at market price when it was 150
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