I found the market reaction amusing. Tesla just rewrote the rules of the game and none of them can see it
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Blitz3RS
Member
Oh my gosh. Divine intervention for sure, thank the maker. With the news of the massive price cuts, I was able to BTC x20 1/13 120C for an 80% win. I cannot believe how close assignment came, and so relieved. Going to step away from options until February to allow for the earnings, FOMC to happen while I sit beaming edge to edge smiling with shares intact for the meantime.
Thanks everyone!
dc_h
Active Member
I sold 3 128 CC's yesterday and still had 15 130 and 5 120's. Closed 10 135 yesterday afternoon. Closed all CC's this morning and have an open put at 120. I am ok buying, but will sell shares at the close to sell more puts for next week. I expect a bounce from here (117.70). If we bounce over 120, I'll probably sell some 140 calls for next week. If there is a perception Tesla can maintain adequate margins, I think the price cuts could turn market positive. It certainly increases pressure on all competition & lays out unit growth for the next two years.
I'm still in bad shape on 120 2/17 calls. Will continue to sell some near money calls to balance out losses on those, if we don't get a big bounce.
I'm still in bad shape on 120 2/17 calls. Will continue to sell some near money calls to balance out losses on those, if we don't get a big bounce.
Watching the brief morning dip reverse, closed at $2.33 for a $5.91 profit since Monday. Delaying STO to hopefully beat the available ~$1.75 simultaneous roll to 1/20 $116, and may go to $120+. Leaving 1/20 $142 CCs in place.
What time do we go green lol? Finally the market seems to be getting it. This is good action because we keep consolidating in this area and also trap more shorts.
We might continue to trade sideways but yeah like someone said Q4 ER cannot get here faster.
We might continue to trade sideways but yeah like someone said Q4 ER cannot get here faster.
Yep! I put in BTC order on my -c125s for $0.10 before I went to bed. Woke up to see it filled, so I used the remaining to pick up shares for $118. First good trade I've made in a while.
SebastienBonny
Member
Liking this as well.
I keep thinking a couple of weeks ago this would’ve taken us below 100.
I keep thinking a couple of weeks ago this would’ve taken us below 100.
BTC 1/20 -c130 at today's dip
STO again at today's peak
gained extra .19 credit
#feelingsomewhatlikemaybeagenius
also, gained ~$5 ($5000 per 1000 shares) daytrading the stock, riding up long to short
Oops, sorry typo. Meant to say: -p/-c, meaning that I had previously written (sold) both short puts and short calls both at 120. This is a non-directional options strategy called a short straddle that benefits from a relatively stable stock price that remains within strike +/- premium. Ideally, if the SP closes at or near the strike, both options close near worthless and the writer keeps all the premiums.
So, closed out the -c120s at $0.7-$0.9 during the MMD, glad I did. Originally sold those in the $6 range. Let the -p120s ride a bit longer, thought about holding to close, but finally rolled to next week for another $2.50 or so because I have a meeting this afternoon and won’t be able to babysit. I netted near $2.50 on the puts this week as well, so quite happy with the results.
Unfortunately, I wasn’t able to close out my 1/20 -c110s hedge before today’s run to $121. I’ll wait a bit and will likely lose big time on those
Just anecdotally, but I've observed a sea change in sentiment among the many circles I'm shadowing. The smart investors / traders are buying and holding, calling Elon a champion for free speech and Tesla a great company. The dumb ones who couldn't even fathom buying TSLA in 2019, who then couldn't wait to load it up to the gill in 2021, are now running a competition to see who has the lowest price target for the stock. Great time to be a HODLer.
SebastienBonny
Member
Few weeks ago I saw shorts bragging how smart they were and how bad Tesla was. They seem quieter now…
Context refresher - also a few bulls were taken to the cleaners with at least one killing himself. There's no high ground.
I suspect it's just MaxP keeping it down below 120 - Hedgies seemed to have given-up on it yesterday, but got a free gift overnight and have renewed vigor...
When they let their foot off the break it climbs fast
It seems CGS is having a lower price target every time it hit his target. Just to show how to make numbers out of their a$$. Cory analysis on the stock probably having bottomed since capitulation at the end of December seems to be the most reasonable one. Even Mauro tweeted it still to be seen if we have a Frebruary flush to bottom in March. Bears have targets all over the place.
dc_h
Active Member
I suggest
I remember being a genius back in October 2021. I must have had a severe blow to the head in November of '21. Still recovering.
dc_h
Active Member
Max pain next week is 135 and premium for 135 calls is at ~.60. I'll wait to sell anything until we either move up, or expectations reset on Monday. I do have a 120 call and put. If we rise above 131 I start to lose on the trade, but win on Feb long calls.
US markets closed on Monday for MLK Day
EVNow
Well-Known Member
Wondering whether I should buy back C125 or let it expire. I'm going to let C150 and my puts expire.
BTW, since Monday is a holiday, not sure whether to sell next week options today or wait for Tuesday ...
BTW, since Monday is a holiday, not sure whether to sell next week options today or wait for Tuesday ...
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