Hmm, as much as $245 is a very very strong resistance at this point, some sort of SC rally in Dec, hopefully post a thwarted or resolved gov’t shutdown, we could very easily stretch above $250 for some moment in time between now and 3w Jan’24.. would someone call the shares for 1-5$, unsure.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Lots of supply to get over to see $220+
Edit: Added daily view:
Edit: Added daily view:
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These are finally seeing a profit now! Need to join gamblers anonymous, since it's been a stressful week!
Looking to sell the 11/17 10x -cc220 for 7.75-7.95$
Rolled 20x -c200 to next week for $1+ credit each, which is nice consolation for being wrong. Happy to roll these forever if it means we never dip below 200 again. Still holding -c205 and -c210 for tomorrow just in case AAPL dumps; closed -p205 and -p210.
SpeedyEddy
Active Member
SpeedyEddy
Active Member
Don't Do It! *** AN ADVICE ***
What are you seeing to take on that risk?
I'll be overjoyed to see 220, let alone 220+. Thanks for posting these.
Don't do what?? Take on the risk, or join G.A.???
It's based on a conviction as to the direction of the stock, but you are 100% correct, of course
After some years of doing this, and being relatively successful, my future strategy is quite clear, aside holding shares and/or LEAPS:
- when the stock is low, buy calls -> 6 months out seems to be a good timeframe
- sell safe OTM calls as the stock rises
- sell aggressive puts as the stock rises
- when stock reaches a high point, sell ATM calls until they expire OTM
- sell the calls
- buy puts, and repeat the above selling safe puts and aggressive calls on the way back down
- rinse/repeat
If you can do that reasonably well, you'll make money, it's very simple
Needs a little patience though...
thenewguy1979
"The" Dog
When I first discovered stocks I had 30K. When I discovered option I went down to $0.
Now I have you guys and is currently in net positive. Thanks.
Now I have you guys and is currently in net positive. Thanks.
Stronger resistance above vs. near below downside support below
next three weeks of max pain levels, all below 210/220, or just AT 220 - these will most likely shift UP today, but we’ll have to wait and see
shape of options curve two days ago vs. today..put premiums were HIGH and call premIums were LOW - So MM can/could make bank
bond mkt oversoldedness two days ago, vs. today (If I ((underscore I) entered TLT in the past couple days, many many others (highest on record) did and that pushed up bond prices, yields down, high beta mega caps love that and we’re seeing it today)
My “Superforecaster” spidey sense tells me this is a short duration relief rally, not the start of an SC rally or new bull wave.
When my left eye-lie twitches by 6:30 am pst, that tells me to sell calls
Starbucks gave me some Holiday Roast and not the Dark Roast I ordered at 05:30 this morning, that ALWAYS means sell calls. Even though I just bought SBUX at $90.85 YESTERDAY - so my year of the dark nectar is covered.
;-0
oh, and the big behemoth AAPL is reporting AH today, and BLS tomorrow.. so both of those things give me pause, and willingness to let some portion of my shares to be taken if need be.
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Sorry, I realise I misread the post, I thought G.A. was referring to the more degenerate members of this thread
Edit: Doh! Just saw the other reply!
There’s a term for this, can’t put my finger on it.. i’m literally spinning my finger round and round in the air and can’t put my finger on it. ;-0
Sorry, I realise I misread the post, I thought G.A. was referring to the more degenerate members of this thread
I've also decided to err on the side of caution, especially seeing the SP fading a bit into close and with AAPL coming after close -> BTC the -p220's I sold earlier, $1 profit for my troubles on those
After the initial action to get out of the ITM calls earlier and sells some puts, I had time to reflect a bit and realised what a dreadful week I have had. It started with -p220's going dITM, with I bought back for losses and then -c200's going dITM, more losses again. Although I balanced out those losses with other wins, it's still money down the drain
The problem with both positions is that they were too close to the money and gave no time to react and roll
The aggressive puts I wrote earlier are because I'm worried my +p's will go worthless, but this is unlikely, I've worked out that $2 per week premiums against those puts, or $4 against half of then, with a much higher likelihood of either winning the trade or rolling in good time, will be better than continually being beaten-up by volatility every time
So with this in mind, am moving to -p210's for next week instead, far more comfortable
Of course having bought back those puts, the SP broke out of the fade and is rising again
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thenewguy1979
"The" Dog
DI0003 got several boatloads of Puts on AAPL. He alone going bring down the market. I wouldn't want to hold anything going into AAPL earning. Going play it safe and jump in tomorrow based on the results.
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