Wiki Selling TSLA Options - Be the House

[Max Plaid]

STO 20x -p260@$5.1, still have the 30x -p245's open, will see about those, they look a low risk right now, so I prefer to let them expire if possible

Edit: waiting on the -c260's (hence the straddle) and -c270's for the moment

But I do have a 1000x $TSLA sell order at $270 and would be nice if that triggered...

 

[tivoboy]

I’ll be looking to scalp -7x Oct -c$265 if we can get over $20 tomorrow. Picked up ~$21x during the last pull back. Still thinking we’ll retest those levels.

Still trying to sell these -c Oct $265, moved the target premium to 22.5$, but still doesn’t seem like ppl are willing to clear at that price. May split it to 4x265 ~ 22.5 And 3x270 for ~$19.

I think we’re in a short term squeeze at the moment.

 

[dl003]

Stopped by the 0.618 fib channel line. A healthy action would be to pull back to 254-256 by Wednesday. A move up to 278 without any pullback would signal either a huge squeeze or the end of the DCB.

 

[Jim Holder]

Nice to not have been in short calls over the weekend
(Thank you @dl003)

On the IV spike @ $265.50:
STC +C255 9/15
STC +C260/-C262.50 9/15 spreads
STC +C280/-C285 9/29 spreads
All for nice gains and left a runner


STO -C290 9/29 for $3.10 (plan to BTC on a $250's gap fill if we get one and/or other weakness)

Watching and considering STO -C285 9/15 on next pop near $265 or higher

 

[SpeedyEddy]

No squeeze yet although volume is high. Selling above 263 is strong, so we need a few more days, I expect a 259er before recommencing this run, today even. If that is bought hugely (on volume, I think it could become a squeeze. But quadruple witching, CPI, Intrest can lead both ways from here. I am not the first to warn on any trade in this big-boy's game. Was bullish for the week and that is in play. But today or tomorrow I will be lowering my short-term-exposure to any big move. CPI could deliver a cold surprise on high Oil, even rising more to a new peak this month ($93-ish)

 

[khill]

Stopped by the 0.618 fib channel line. A healthy action would be to pull back to 254-256 by Wednesday. A move up to 278 without any pullback would signal either a huge squeeze or the end of the DCB.
View attachment 972908

What covered calls would be good for this week in your opinion?

 

[dl003]

What covered calls would be good for this week in your opinion?

Selling naked puts would be a better option IMO. If it pulls back to 254-256, it'll signal high certainty of upside ahead. If it goes straight to 278, you can close them puts. If you sell calls now and it goes straight to 278, what're you gonna do? If it breaks 278 it will squeeeeeeeeze.

 

[khill]

Selling naked puts would be a better option IMO. If it pulls back to 254-256, it'll signal high certainty of upside ahead. If it goes straight to 278, you can close them puts. If you sell calls now and it goes straight to 278, what're you gonna do? If it breaks 278 it will squeeeeeeeeze.

Thanks.

 

[SpeedyEddy]

Wrong on that one! Short squeeze unfolding, possibly inducing a gamma squeeze (call-walls being smashed) This can get ugly and it can also be the last move up in a DCB tricking all retail into FOMO-ing

 

[jeewee3000]

STO 20x -p260@$5.1, still have the 30x -p245's open, will see about those, they look a low risk right now, so I prefer to let them expire if possible

Edit: waiting on the -c260's (hence the straddle) and -c270's for the moment

But I do have a 1000x $TSLA sell order at $270 and would be nice if that triggered...

You have just sold 1000x $TSLA.

 

[tivoboy]

Still trying to sell these -c Oct $265, moved the target premium to 22.5$, but still doesn’t seem like ppl are willing to clear at that price. May split it to 4x265 ~ 22.5 And 3x270 for ~$19.

I think we’re in a short term squeeze at the moment.

Going to target the Oct -c $275 for $18, that’ll be my sell here.

 

[Max Plaid]

You have just sold 1000x $TSLA.

Yes! These were put to me at -p260 some weeks ago. This is good, I remember a time, in the not too distant past, where I would resell TSLA shares at a lower price than the put strike, but this time I have sold them at the same strike, or, as in this case, higher, so I benefit from the initial put premiums and some profit on the stock

Remember, I have Dec 2025 LEAPS that will purchase the stock for $213 (including initial premium), so it makes no sense to hold shares above that cost basis

 

[Jim Holder]

@dl003 I know you said short calls aren't the best in this environment BUT would there be a play you'd do through this Friday (4 days), like -C286.67 for $1.30 or -C290 for $1.00?

 

[phantasms]

@dl003 I know you said short calls aren't the best in this environment BUT would there be a play you'd do through this Friday (4 days), like -C286.67 for $1.30 or -C290 for $1.00?

I just did a bunch around that area. I can’t fathom that it’s up from here forever without looking back. If it is, cost basis is low double digits anyway.

 

[Knightshade]

I just did a bunch around that area. I can’t fathom that it’s up from here forever without looking back. If it is, cost basis is low double digits anyway.

Yup, sold $290 calls for Friday at $1.20.... also sold some $253.33 puts at .90 for same expiration

 

[dl003]

@dl003 I know you said short calls aren't the best in this environment BUT would there be a play you'd do through this Friday (4 days), like -C286.67 for $1.30 or -C290 for $1.00?

for B/W shares, sure. It's close enough to 278 that if it squeezes past it, the loss you'll incur will be manageable.

 

[Jim Holder]

for B/W shares, sure.

What about not b/w ($358 CB) any safe strike for this Friday (or further out) or stay out of the way?

 

[dl003]

What about not b/w ($358 CB) any safe strike for this Friday (or further out) or stay out of the way?

Right now (271) would be a good level to sell 290Cs but again, nothing is safe in an uptrend. You have to acknowledge that before pressing the sell button.

 

[intelligator]

Opened -c295/+c305 at 271, will watch closely, also closed +p235/-p245 at 90% profit

 

[Jim Holder]

STO 30x -C290 9/15 for $1.10

TSLA Sep 15th 290 Long Call (30) | OptionStrat

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