Wiki Selling TSLA Options - Be the House

[strago13]

Trying to decide if I should pull the trigger on some leaps today or wait. I had been waiting for the bottom...seems like that is in.

Also, when the F are they going to release Jun 2025 strikes higher than 240? Sure would be nice to roll my calls up and out before it gets really expensive.

 

[vikings123]

Likely sitting on my $150 CCs until Friday. I want to see how today plays out, and I think we have a red day Friday from profit taking. I could be wrong, but at this point, I think TSLA is a bit overbought and I'd be happy to sit on the sidelines briefly until the price reverts a bit.

I think there are a lot of shorts trapped in this range. So I'm not sure I subscribe to your view.

I will say, based on previous post ER trading action, gap ups have got sold a lot of times. This time feels different just because of how beaten up the stock is and also would be a good time for the shorts to get slaughtered. That said take it nice and slow, there will likely be pullbacks today. I have some Jan 27 167.5 CCs that I expect to be safe but you never know. The money I used to buy puts is mostly gone and I'm happy about it lol.

And like I said yesterday we are in a new bull market so keep that in mind if you are expecting red.

 

[Max Plaid]

What’s the target?

Don't know yet, need to see how things look in main market, will report back later...

 

[JustMe]

What's happening here, stock price is going up very fast. 10% up now premarket.

Sentiment flipped, shorts covering, & FOMO

 

[SpeedyEddy]

I rolled 'm up to -cc137 and -cc139, still dangerous, but having bought the shares below that; always a gain.

Did not pay out too good.. holding, waiting for a further dip

 

[kabin]

IV crushed.

 

[bingoz]

We're in the middle of two big call walls at 150 and 160. Probably we'll stay in this range till Friday or slowly slide down a bit more from here.

I still have -cc 155 and will wait to see if it's expired worthless. I might let it go if TSLA >155, or just roll it out for another week idk yet.

Again, 160 is where Elon sold shares a while ago and that was when the capitulation started. It's not easy to break it in 1 shot.

 

[Max Plaid]

Best I could manage: BTC 26x 1/27 -c130 @$27 -> STO 24x 2/24 -c130 @$29 net -$600

If I had been able to type faster cold have got $32 and reduced 3x more contracts, hey-ho, I don't have a roll function, it's a buy then a sell...

Leaving the 26x -c150's to (probably) exercise and sell puts, will use the put sales to reduce the outstanding call contracts further

 

[dl003]

@dl003 Any thoughts on this week’s TSLA price action, and are -C170 strikes for this Friday (1/27) safe, and where from here?

Also do you track the broader market like SPY. Some have been calling for quite a drop in the next few days. Curious your thoughts.

Thanks

I think 166 will offer a lot of resistance; in fact I think 162 this morning could have been it. Now we're flagging for another spike but maybe next week. So 170s should be safe this week. Max I see before a deep retrace is 180. I think SPY will revisit 365 - 370 at some point in the next 3 months. TSLA should be fine.

 

[mrmage]

It's usually 2 or 3 trading days after earnings where it gets really interesting. Aka it isn't over until the Friday lady sings.

 

[intelligator]

Anyone looking at selling puts? -p148 for tomorrow are .55 , thinking about a 5 wide BPS (.37 to .40)

 

[myt-e-s-l-a]

Faded 1000 tsla at open 159.90 and STO 10x 230203P159 @ $7.50

 

[EVNow]

Anyone looking at selling puts? -p148 for tomorrow are .55 , thinking about a 5 wide BPS (.37 to .40)

145/140 is 23 cents. I might consider it. Now just trying to sell 170/175.

 

[adiggs]

We're in the middle of two big call walls at 150 and 160. Probably we'll stay in this range till Friday or slowly slide down a bit more from here.

I still have -cc 155 and will wait to see if it's expired worthless. I might let it go if TSLA >155, or just roll it out for another week idk yet.

Again, 160 is where Elon sold shares a while ago and that was when the capitulation started. It's not easy to break it in 1 shot.
View attachment 899983

not-advice.

My own interpretation of those 2 call walls is that they represent a large spike relative to the other strikes for this expiration.

I would not describe them as big however. 35-40k contracts at a single strike is reasonably typical, and maybe a bit on the small side, for expiration week. Big would be closer to, or even above, 100k.

At least that's what I've seen.

 

[BornToFly]

I rolled the 155CCs for tomorrow to next week 165, and sold new 185CCs and 190s for next week to pay the debit.

(so no income next week, and if I have to roll the 165s next week there will be no income for the week after either)

 

[OrthoSurg]

My bought 110 jan2025 LEAPS gained $8
My sold 370 Jan2025 CCs gained $2
My sold Jan2025 -p250 lost $9

Overall I am happy

Just have to find the perfect timing to roll back in these sold CCs once we start having a retracement. Timing the top never was my speciality

 

[juanmedina]

I rolled my $162.5 to $167.5.... what a chicken . I love to leave money on the table. I also feel that the sentiment has change so I will try to be very careful.

 

[SpeedyEddy]

Since the bottom we now have 3 Gap-ups, of which I guess we have to fill at least one or , maybe even all 3 (@113, 122, 146)

 

[dl003]

Since the bottom we now have 3 Gap-ups, of which I guess we have to fill at least one or , maybe even all 3 (@113, 122, 146)

Yes, and a lot of people think that. In fact, I'd wager all traders worth their salt are considering that. Fuel for a dry squeeze up. Not saying a squeeze will happen or that gaps won't get filled. Gaps will get filled, but after what price is the question. I have a feeling people stuck with ITM CCs will feel the heat and keep rolling them up. At some point they'll give up and think the stock will never look back. That's when the correction will happen. In 2019 we bounced off 100 MEMA before topping out at 200 WEMA. 2023 is following this playbook, at least the first part. 200 WEMA is currently sitting at 180. Do you think the stock will feel like it "won't look back" at 160 or 165? I have a feeling it will be somewhere around 180-185. That's when it's going to happen. I'm going to caution against calling the top here unless you want to hedge your account, although the odds of 102 being THE low is high ATM so further hedging might not be necessary.

Also, if you are stuck with ITM CCs, don't give up. But also don't dig yourself a bigger hole. Watch the 180 level.

 

[SebastienBonny]

As 150CC was deeply ITM at some point I decided to roll it to 170 april for 4.
Will roll this back if stock is somewhat stable or close it when we head down a bit (to open again when back higher).

For next week I’m looking for a -p and cc about 40 wide.
135 - 175 strikes, something like that for about 2.