Wiki Selling TSLA Options - Be the House

[SpeedyEddy]

So we wouldn't thave to create bandwidth-consuming posts like these just to say "?" about a post we don't understand or want to question.

I tried to be funny by posting the ?-emojis...

 

[Jim Holder]

QTA range

Thursday Range High: $264.65
Thursday Range Low: $255.35

 

[ninpb]

What are all my fellow put owers thinking?

Please don't announce CT launch right now.

 

[juanmedina]

Amazing. I was watching the run up much of the day, and put in, then pulled orders multiple times to sell BCS spreads. In the end I decided it was too much risk. These are the things that us little investors will never know until after the fact. Yes, I wish those orders went through, but in reality it was only a few thousand dollars, so not enough to fret over.

Instead, I sold more $TSLA than I have ever done before and bought puts. I’m really out on a limb here, hoping for a pullback. Crazy, I haven’t made this much of a directional bet before, so I’ll probably be completely wrong and, if the SP doesn’t retrace soon, I’ll lose a bunch. Oh well, that’s the beast. I should probably just stick to my put-call straddles and iron condors. As always, GLTA.

What expiration were your puts? I bought more puts than ever before financed by my December 290cc's. I have been thinking about going all cash and just selling options and try to make like a 1% return on all my cash every two weeks. I would like to this at $300-290 and I will somewhat upset if I can't sell because of the covered calls that I sold. I am just tired of all the ups and downs with the stock. I closed all my long LEAP's yesterday a little too early.

Will wee see $230 this week as predicted? That would be insane.

 

[SpeedyEddy]

The one thing that bothers me is that SPX 4150 is so close and if hit will give a bounce. As we saw yesterday, $TSLA is leveraging any uptick on SPX and not too much the downfalls. In other words the base to move up from is much higher in TSLA than SPX since yesterday,

 

[thenewguy1979]

For the past 30 minutes Tesla stock is dumping harder then the tech market. It basically sold sold sold from yesterday profits. Hyundai only provided a little bump. Something is up. Put Holder should just hold for now. This is wear the fun begins

 

[SpeedyEddy]

For the past 30 minutes Tesla stock is dumping harder then the tech market. It basically sold sold sold from yesterday profits. Hyundai only provided a little bump. Something is up. Put Holder should just hold for now. This is wear the fun begins

where the FOMO begins to wear... Seeing things turning green slowly (especially the extra -C250 for next week I got near the high. I traded that for the--C240 I still had left for tomorrow and was burning hot at market open)

 

[phantasms]

What are all my fellow put owers thinking?

FYI my PUTS expire 15 dec 2023. (I'm the guy who likes late expirations.)

Also, I don't really know what to think, but I think I'm learning a little, and mostly I wish I knew what questions to ask.

I bought a bunch at various times during the day yesterday. Various strikes and duration. I’m thinking of not looking until the SP drops so I feel better about myself.

PS. Not sure where @dl003 is. Just want to say it’s all good brother. If anyone went all in based on some drawings by a stranger on the internet that’s on them. You’re awesome and we still all owe you a beer. I hope you stick around if the stock goes to 100 or 400. FWIW your charts are awesome and I think in the end you’ll be spot on correct.

 

[juanmedina]

Rivian is down 17% ... if anyone wants to play.

 

[Nocturnal]

Please don't announce CT launch right now.

Do you guys recall if previous delivery events were announced during earnings or not? Autonomy and AI days were.

Plaid S was announced during earnings, but can't recall that delivery announcement or the others.

Rivian is down 17% ... if anyone wants to play.

Wow. I feel bad for anyone who bought at the high yesterday!

 

[SebastienBonny]

I bought a bunch at various times during the day yesterday. Various strikes and duration. I’m thinking of not looking until the SP drops so I feel better about myself.

PS. Not sure where @dl003 is. Just want to say it’s all good brother. If anyone went all in based on some drawings by a stranger on the internet that’s on them. You’re awesome and we still all owe you a beer. I hope you stick around if the stock goes to 100 or 400. FWIW your charts are awesome and I think in the end you’ll be spot on correct.

He indeed never said we were going to 200 just like that without going up first or what so ever...
It's not because he says he sees Tesla touching 200 this year, it'll happen this week. If you look at the bigger picture (monthly chart), reaching 260ish and going back down from there is just following the downward trend.

 

[phantasms]

He indeed never said we were going to 200 just like that without going up first or what so ever...
It's not because he says he sees Tesla touching 200 this year, it'll happen this week. If you look at the bigger picture (monthly chart), reaching 260ish and going back down from there is just following the downward trend.

Agreed. Just figured the price action yesterday may have scared him away. I have 265c this week and I’m fine if it hits.

 

[SpeedyEddy]

Wow. I feel bad for anyone who bought (RIVN) at the high yesterday!

Me too, but you always want to check the balance, cashflow, scaling possibilities before doing anything (that's why I immediately did -C in VFS on options day 1)

 

[SpeedyEddy]

Me subsequently adding -C today helps turning green on positions very well. Almost back where I started yesterday. Reaching margin boundaries

 

[Cherry Wine]

Agreed. Just figured the price action yesterday may have scared him away. I have 265c this week and I’m fine if it hits.

It wouldn't surprise me if the heaping of praise made him more uncomfortable than the price action.

 

[Jim Holder]

Not sure where @dl003 is. Just want to say it’s all good brother. If anyone went all in based on some drawings by a stranger on the internet that’s on them. You’re awesome and we still all owe you a beer. I hope you stick around if the stock goes to 100 or 400. FWIW your charts are awesome and I think in the end you’ll be spot on correct.

100%

Well said. It's very useful data and we all make our own decisions and live with the consequences.
I just hope he's fine and didn't get into an accident or something on such a nice up day.

 

[Max Plaid]

That’s a lot of $$ to lay out for DITM options, i can imagine the demand or risk premium isn’t enough to build contango.

The time to buy LEAPS is when we're at the bottom, then buy close to the current share price - if you get in low and the SP takes off then they are greatly de-risked by a lot of the value flipping from extrinsic to intrinsic - write against them on the way up to increase profits, mostly I'd say a few months out at very OTM strikes

 

[SpeedyEddy]

I would estimate 255.38 might be today's bottom. If it does not hold, then we could easily rewind 2 days...
MaxPain would give a clue in these circumstances and will be around 255 as well (yesterday 252.50 and today trading a bit higher) If we are so close, somebody will make an effort to get it his way.
[Edit, FYI I made my own calculation, but I see @Jim Holder quoted that level from Wicked Stocks too /Edit]

 

[Max Plaid]

What are all my fellow put owers thinking?

FYI my PUTS expire 15 dec 2023. (I'm the guy who likes late expirations.)

Also, I don't really know what to think, but I think I'm learning a little, and mostly I wish I knew what questions to ask.

I paid $12.4 for my March +p200's meant to buy 100x, but somehow ended up with 200x, but decided to keep them anyway. These were partially financed by November 100x +p200's that gave back +100% profits in the course of a week, so I started from a good situation

I'm holding these until expiry, probably. Yes, it's likely to be $250k that will fizzle to zero, but they also provide a lot of insurance over the next 5 months in a very volatile markey

In order to not actually lose any money, I'm selling 70x - 100x weeklies against them for around $4, so all being weak, by the end of October I will have taken premiums back to cover the initial cost, everything after that is profit. If the SP shoots up I'll sell 50c weeklies against the lot, that also bring-in enough income to cover them

But the main strategy is to write 70x, thus leaving 130x contracts (+20x +p270's I left unused) for wiggle-room in case we get a crash/correction at any point - I already took back $60k from the initial $245k cost and will be another +$15k if the SP closes above $255 this week

So yes, I believe you can have your cake and eat it

 

[Max Plaid]

Not sure where @dl003 is. Just want to say it’s all good brother. If anyone went all in based on some drawings by a stranger on the internet that’s on them. You’re awesome and we still all owe you a beer. I hope you stick around if the stock goes to 100 or 400. FWIW your charts are awesome and I think in the end you’ll be spot on correct.

Cannot emphasise this enough - none of us has a crystal ball as to what's going to happen in the next 5 minutes, never mind tomorrow, or next week, etc. We're all putting here our thoughts and opinions. Some of us are using very clever TA to come with their hypothesis, others (=me) just pull some numbers out of their ass, sometimes one is right, sometimes the other, quite often neither

But the bottom line is that each of us is responsible for the trades we make, if we chose to follow someone's predictions then that's on us, not them, this is always in force