Ok we did trade 198 and the bounce was impulsive enough. I think we are already bouncing on our way to 205. We have a pretty clear double bottom setup potentially of which the neckline at 205 if broken will target 221. So, do expect a strong rejection at 205 if we get there. A likely scenario is we dont get there before ID at all. May get to 203 and consolidate, gap & trap over 205 the day after before coming down for wave C targeting 180.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Market is awful. I don't know if Investor Day is holding us up a little or not. But I wouldn't be surprised to see 180 or lower next Friday. That being said, I'm not gambling on aggressive CCs either. This sucks.
EVNow
Well-Known Member
I do think the market reaction to Powell's press conference was too cheerful. Probably waking up to the reality now. Won't be surprised if Nasdaq falls back to 1,500 levels.
It’s a shame Investors Day doesn’t get us a decent bounce. Are you seeing 180 then rebound higher or more elevator down next week (thinking about my 3/3 180 and 3/17 170 CSPs…)
Opened a 3/3 -175/+165 BPS at 1.30, have order to sell at 25% if we float back up today or look for same next week. GLTA !
Well, peak moment to trade out the 15x 2/24 -p200's and 15x 3/3 -c200's was while I was walking the dogs in the forest, so it goes... anyway, closed them all out, also the -p180's from earlier (for an easy $1600) to end a very profitable week (+0.6% of total portfolio current value), but needed to work the tables a bit 
Re-entered with 10x 3/3 -p190's @$6.1, have a sell for 10x 3/3 -c210 in @$4.1 (needs 196.75 to trigger -> go go go!)
Same income, lower number of contracts, but at least not a straddle = less exposure, less risk, let's see...
Re-entered with 10x 3/3 -p190's @$6.1, have a sell for 10x 3/3 -c210 in @$4.1 (needs 196.75 to trigger -> go go go!)
Same income, lower number of contracts, but at least not a straddle = less exposure, less risk, let's see...
Sold 10X -195C/-195P short straddle expiring today for 4.11
I don't see us finishing above 199.11 or closing below 190.89 and that's a lot of extrinsic given I initiated the trade when TSLA was trading at 194.40. OK with getting assigned on the puts too
edit: I will very likely close these before market close.
Out for a 45% profit. I probably would hold this position longer but can't be in front of the computer. Have a good weekend guys.
That was a nice trade! Sometimes I think doing something like this on a daily basis will yield more profits than weeklies, but without the stress of overnight volatility. Might try it out, of fun...
In 2 IRA accounts I have almost successfully rescued DITM CCs by rolling up and out at weekly lows. Only cost < $2 total each contract so far
143.33 - 155 - 170 - 182.5 - 190 - 197.5 - 205 - 215
138 - 150 - 155 - 162.5 - 167.5 - 172.5 - 175 - 185
The key is to spend the money early on as a few $ difference early on can be lead to me being able to stay in lockstep with the SP vs getting left further behind every week. And dont panic; just be proactive and be willing to spend some money at opportune times.
143.33 - 155 - 170 - 182.5 - 190 - 197.5 - 205 - 215
138 - 150 - 155 - 162.5 - 167.5 - 172.5 - 175 - 185
The key is to spend the money early on as a few $ difference early on can be lead to me being able to stay in lockstep with the SP vs getting left further behind every week. And dont panic; just be proactive and be willing to spend some money at opportune times.
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Yes, quick reaction is essential, whether rolling or flipping to puts... that +30% from 130 was an account killer for some...
Absolutely. The account that is still a bit stuck at 185 belongs to my mom who is near her retirement age. I didnt want to dip into the profit I got for her from selling CC previously. Also thought it wouldnt be so bad selling her shares around 170, considering her age and the economy, especially after the nasty crash. In hindsight that was suboptimal. Was much more intentional with rolling my own account.
Back in on the down day. Next Friday 170/160 BPS around .55.
Something I was previously much better at, and am trying to be more conscious of, is to use strikes that (a) I'm willing, even eager, to take assignment at. (b) Pick a strike I think safe, and then move at least 1 or 2 strikes further back from there.
In the case of these 170s, its a BPS so I'm not taking assignment. But I also am not particularly worried about 180 as a profitable strike for next week. I'm even less worried about the 170 strike, and the income is more than just fine.
Something I was previously much better at, and am trying to be more conscious of, is to use strikes that (a) I'm willing, even eager, to take assignment at. (b) Pick a strike I think safe, and then move at least 1 or 2 strikes further back from there.
In the case of these 170s, its a BPS so I'm not taking assignment. But I also am not particularly worried about 180 as a profitable strike for next week. I'm even less worried about the 170 strike, and the income is more than just fine.
A new Tesla model or a prank? New prototype spotted is confusing us
A new prototype vehicle has been spotted over the last few days, and it clearly has some Tesla design features....
electrek.co
Did y'all see this proto -- if it is a lower priced compact Model 2, that should certainly change wall street model assumptions.
bballshinobi
Member
You don't think a bounce from $120's to $200 is a decent bounce?
In my mind, 180 is where the next bottom will be carved out. So its gonna be something like this: 192 (today) - 205 - 180 (or lower to 171) - 195 - P&D. 180 is where the daily uptrend support is so Im convinced that we wont close any day below it before p&d. Might break it intraday, though.
A new Tesla model or a prank? New prototype spotted is confusing us
A new prototype vehicle has been spotted over the last few days, and it clearly has some Tesla design features....
Did y'all see this proto -- if it is a lower priced compact Model 2, that should certainly change wall street model assumptions.
As one of the commentors pointed out, it obviously has non-flush door handles, which makes it NOT a tesla. The alternative view is that it's a mazda . Considering those headlights are actually simliar to the early 2000's Mazda 3 (remember that Franz was a Mazda designer before being hired by Tesla), that's the most likely explanation.
EVNow
Well-Known Member
So, basically whenever you saw some kind of dip you rolled by a week ? Where are those 215 & 185 calls at now ?
This year I've done
-123/+128 -> -125/+130 -> -143.33/+150 --> -165/+170 --> -175/+190 --> -175/+200 --> -185/+230 --> -185/+225 --> -195/+220
I got caught with the -165/170.
BTW, for those who can't watch all the time, you can set limit orders that are good till completed (i.e. multiple days). I usually don't like doing this ... but on the west coast, this is better than waking up at 6:30 AM
Wow. I thought FOMO leading to Wednesday would at least get us 210 and then dump on Thursday.
Any -P or -C lined up?
One trick I use is looking at the same strike -p. If Im rolling a -185C I will look at -185p. Whenever the premium on that -p goes below $1 I will roll the call. That and at the bottom of a dip. The premium left on that -p is actually the time value left on the -c. I only roll out once a week. The 215 expires next week. The 185 on 3/31.So, basically whenever you saw some kind of dip you rolled by a week ? Where are those 215 & 185 calls at now ?
This year I've done
-123/+128 -> -125/+130 -> -143.33/+150 --> -165/+170 --> -175/+190 --> -175/+200 --> -185/+230 --> -185/+225 --> -195/+220
I got caught with the -165/170.
BTW, for those who can't watch all the time, you can set limit orders that are good till completed (i.e. multiple days). I usually don't like doing this ... but on the west coast, this is better than waking up at 6:30 AM
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210 maybe but Im not betting on it anymore. Macros are turning south faster than I thought.
I sold -230C and no new puts. Will certainly close some of the -c before EOD on Wednesday due to my principle of lightening up before an event. Wont be selling puts until I can see a bullish divergence developing on the next leg down.
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