Wiki Selling TSLA Options - Be the House

[juanmedina]

I sold $210 for next week at $0.93. Pray for me

Bad call again. Added $220cc for $1.27. Have a good day guys.

 

[ShareLofty]

Did IV shoot up? Trying to figure out what caused LEAPS to explode around 11:00am. I’m seeing Jan24’s up 100% today when yesterday it was 40%

 

[dc_h]

I'm rolling some, but still expect a not straight line back to 300. Somewhere I would expect a fall back and consolidation before another wave up. I have 13 165 CC's due this week and may let them go and sell puts for next week. I'm in a tax deferred account, so selling doesn't hurt as much. Overall I have 27 CC's out there, all ITM. On the bright side, I have more 140 calls due in July, that I thought might be dead money a week ago.

 

[intelligator]

Heading out for the day , good luck to all. Here's the options volume as of 12:30 (where contracts > 500) ... I included this and next week expiry. It's be sweet if next week we hovered near 170, it'd allow to expire a couple of the CC rolls.

 

[corduroy]

Wow, what a week. My account is in the middle of a transfer to another broker so I am in a trading freeze. That probably saved me from selling some unfortunate calls.

Nice to seem my remaining Dec -145 puts firmly OTM now.

Good luck everyone.

 

[kabin]

After earnings IV was so low it didn't make sense to roll so I closed my covered calls. We'll see if this momentum trend continues.

 

[dl003]

wow this is insane. 2 weeks of move done in 2 days.

 

[OrthoSurg]

wow this is insane. 2 weeks of move done in 2 days.

It almost feels like we took the stairs to go down and jumped on the elevator to do go back up.

 

[CHGolferJim]

wow this is insane. 2 weeks of move done in 2 days.

Your note about 180 is looking pretty good!

 

[ninpb]

I should have warned everybody, after months of sitting out, started selling CC again last few weeks.

 

[adiggs]

For those thinking the current price action is particularly strong, unprecedented, etc...., remember that with the share price at ~165, that is ~500 pre-split. There was a time not all that long ago when 600 was unsustainably low (200 post-split), and I personally leaned hard on 233 (700 pre-split) as a nearly unbreakable support.

There is a LOT of room to run up and still be cheap from a long term valuation point of view. Maybe this is the v-shaped recovery back into the upper 200s / 300s that I consider reasonable. Maybe this is just a head fake that gets the put sellers pulled up to higher strikes than they want to be, followed by the reversal back.

I don't know what will be happening of course. I do know that at this share price, I still consider the shares to be cheap enough that I'm not selling cc at any strike. I'm not yet tempted to sell cc at any strike. I'm also in an income position where waiting is modestly uncomfortable, but locking in this huge drop in the share price is more uncomfortable (due to the cc strike being overrun).

Been thinking more about this.

Here is another way to think about the share price... is Tesla more likely worth $400 today or a year ago when it reached ATH?
This is long term investment thinking which can get you into trouble in the short term. It can also be your edge.

My read... the company is much better off today than back then

 

[GrmMastrDoobie]

Bad call again. Added $220cc for $1.27. Have a good day guys.

You're kicking my ass. I'm already down 400% on my $205cc 2/3 for .37 that I just sold. Talk about learning the hard way. Maybe I should sell some more at these new and improved prices.

 

[Cherry Wine]

For those getting steamrolled (like me), chins up - at least we're not seeing a LCID-like move (up ~50%).

 

[Max Plaid]

Holy mother of dogs! Loving this!! My calls are toast, but my portfolio is +++

So I had the "good idea" to split my 26x -c150's expiring today into a roll... sold 13x 2/3 -c150 on a "pop", and then it "POPPED" and I was left stranded with 26x for this week and 13x for next week... well, that's the game we play, eh?

Easy to weep into one's petticoats, but also possible to be philosophical and remember that only three weeks ago, one was thinking to "de-risk" at SP 1O5... So while it may not be perfect, it's dramatically better than it was

 

[GrmMastrDoobie]

Just sold 2/3 240cc for .39. Is that even possible to be at 240 by the end of next week? I think I'm seeing why you guys warned me to stay away. Too late now!

 

[vikings123]

Did IV shoot up? Trying to figure out what caused LEAPS to explode around 11:00am. I’m seeing Jan24’s up 100% today when yesterday it was 40%

Yes the big 6-7$ hourly candle caused IV to go up.

Your note about 180 is looking pretty good!

Very small chance but if there is an afternoon run up..we could see 184/185 today, there is definitely room on the daily

 

[SpeedyEddy]

WS will have a hard time to reel in the 170 (that once was a call wall. Seen a lot of rolling in 1/27 Calls, not enough yet, first aiming 160, now 170 for the moneymakers (that will loose money once again). I think they are begging the FED to be harsh.Big money rolling in 170 calls and above for next week.

 

[juanmedina]

I hate TA:

 

[EVNow]

Last 30 minutes Nasdaq is going up but SP is about flat. So, I'm guessing it will end up between 175 & 180. If Nasdaq goes down, we might see SP between 170 & 175.

I hate TA: View attachment 900405

TA or Astrology - your pick

 

[mrmage]

Guess my thoughts about TSLA not breaking 170 without blowout earnings didn't age well. I'll admit that Tesla is not boring.

Opened 170 cc for next Friday yesterday after making a few cents on 160, but will probably let them get assigned next week if TSLA continues up. Then write puts for awhile and let my core shares do their work.