I though that was already common knowledge from months ago.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
I though that was already common knowledge from months ago.
Agreed. Sometimes it seems like the market just needs an excuse to move the price a certain way.
Closed yesterday’s 2DTE ICs +p155/-p175/-c220/+c240
Not a huge gain, but still 1-2% yield for the week. It was a FOMC IV crush play that worked very well and could have just left them to expire tomorrow. Instead, re-entered at a tighter 1DTE ICs +p175/-p185/-c205/+c215 for about 4% yield. Also sold a few 1DTE -c205s just to scrap off some more premiums. Hopefully, not too close. I put in $0.02 GTC close orders on the short legs just in case there are big oscillations tomorrow. Still plenty of cash available for buybacks and/or rolls, if needed. Contemplating another buy-write in one account (need another 60 shares), but will wait until tomorrow to see if there’s another punch down attack.
This is my attempt to reduce risk, stay 2DTE or less, and accept lower premiums. I don’t need to be so aggressive and clearing $1-2k/wk is enough for my modest living. Looking at today’s big trades, there are some big bets for a SP spike by April 6th: +c210s and +c205/-c210. Could be the type of bets that Wicked Stocks advocated. Interesting.
Not a huge gain, but still 1-2% yield for the week. It was a FOMC IV crush play that worked very well and could have just left them to expire tomorrow. Instead, re-entered at a tighter 1DTE ICs +p175/-p185/-c205/+c215 for about 4% yield. Also sold a few 1DTE -c205s just to scrap off some more premiums. Hopefully, not too close. I put in $0.02 GTC close orders on the short legs just in case there are big oscillations tomorrow. Still plenty of cash available for buybacks and/or rolls, if needed. Contemplating another buy-write in one account (need another 60 shares), but will wait until tomorrow to see if there’s another punch down attack.
This is my attempt to reduce risk, stay 2DTE or less, and accept lower premiums. I don’t need to be so aggressive and clearing $1-2k/wk is enough for my modest living. Looking at today’s big trades, there are some big bets for a SP spike by April 6th: +c210s and +c205/-c210. Could be the type of bets that Wicked Stocks advocated. Interesting.
SpeedyEddy
Active Member
Happily we got an exact, but earlier repeat OF Yesterday’s moves so I could make the trades that I wished I had made yesterday. 187 will be the test and then 180 IMHO. Took enough gain on the puts and some shares that I closed around 198 and paper gain on -C195 for next week to cut my losses on the -C140 and 145 .
Glad I bought back those p190s yesterday. But I don’t expect a big drop, maybe a few more points. So I’ve put in an order to STO 10 x p175 for next week at $2.50.
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After looking more closely at the TSLA and Nasdaq charts I’ve pulled my order. Those charts don’t look great with TSLA having a double top at 201 and both TSLA and Nasdaq almost falling out of the upward trend line they started two weeks ago.
EVNow
Well-Known Member
I had a GTC open order to -202.5/+210 on Monday - which I forgot to cancel before market open on Tuesday (overslept). So got executed first thing in the morning. Looks like I'll be able to close that without problems. Planning to roll to -215/220. 210 calls will be rolled to 220 or 225.
I actually think the market will squeeze up one last time to snuff out all the last remaining bears, then it'll descend to hell from 404-406. If this plays out, it means the gap was tested today and TSLA passed the test, for now...
2022 SPY vs 2023 SPY. You can almost see what's going to happen next based on what's just happened. Once we reach 404-406 in SPY, we'll reach peak squeeze and something big is going to happen. My bet is down.
2022 SPY vs 2023 SPY. You can almost see what's going to happen next based on what's just happened. Once we reach 404-406 in SPY, we'll reach peak squeeze and something big is going to happen. My bet is down.
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Your 187 dip projection played out well today! Can you share any TSLA positions you currently have going into 3/31-4/7?
Since I'm on the crazy prediction train, why not continue? I say we hit 210-215 next week. NTA. I'll lighten up my CCs tomorrow to 220, unless we break 188 in a decisive manner.
Forgot to mention. I still have -190Ps. Closed my -192.5Ps yesterday at 200 as planned. Reopened -190Ps today.
Premiums 20% OTM aren't great for next Friday yet. I'm going to see if we get a nice pop tomorrow. IF not, I will wait until Monday or Tuesday to open CCs. I feel like there should be a run up into P&D weekend, but maybe the market doesn't know better....
-c202.5 safe tomorrow? If so, this week's IC is a win. -p167.5 not worried about at all.
I would wait until next week to sell CCs for 3/31. CSPs are probably ok to sell tomorrow. Since it’s a month end, I expect a small amount of payroll 401(k) retirement buying to contribute to the SP. I’m expecting the SP to end near $192.50, halfway between the (current) small put and larger call walls. Could change overnight, but not by much.
I sure hope so for mine as well. Probably best to close out before afternoon, as we have seen buying into the close in the past. Definitely 190-200 in play tomorrow.
Massive call buying for 3/31 & 4/06 ($200-$220) so something good is expected. I will probably buy some calls tomorrow as well (against my better judgment, because it only works 10% of the time for me).
EDIT: Don’t forget that 3/31 is EOQ and any mutual fund that wasn’t able to buy junk bond companies, and who now can and wants to show TSLA on their balance sheet, needs to buy in buy next Friday.
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Knightshade
Well-Known Member
People keep mentioning this idea, but I've yet to see any evidence this is actually a thing.
There's sometimes restrictions on buying DEBT based on these ratings (so company issued bonds for example)- I've yet to see any funds rules say they can't buy SHARES of such companies.
Someone else mentioned this in the main investor thread asking if anyone had evidence there was such a rule for any fund and nobody had anything there... does anyone here?
Well, if the bets for 3/31 are on 210, 220, I'll need to roll the 4/6 190 CCs or buy them back on a strong dip Friday. Will close out early per suggest and see if there's a worth while premium to set for next weeks IC half. Otherwise, feeling good about 200+ being less a threat Friday... we'll see. GLTA!
jeewee3000
Active Member
Idiots. They should've waited for $200-$210, then sold and wait for the post P&D drop!
/s
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Rebalancing given that $SQ had dropped hard... can't imagine they'd sell otherwise, not ahead of a likely record P&D
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