Wiki Selling TSLA Options - Be the House

[Max Plaid]

We’re below any real support at this point (we’d have to get back up above $235 to think we’re at SOME support), and there is nothing substantial between here and ~ $213

I need it to stay above 220 this week so I don't have to close out my 50x -p220, and next week looking for it to stay above 230, please

On a positive note, all those -c250's we wrote seem very distant right now, although I could imagine a +5% reversal tomorrow, you know how it goes sometimes...

 

[Jim Holder]

I could imagine a +5% reversal tomorrow, you know how it goes sometimes...

100% this. Talk about surprise moves both up and down. Today’s was a godsend for the ITM gang

I wonder if $246 was the top indeed, something tells me we’ll see more upside before hades opens below.

 

[Max Plaid]

100% this. Talk about surprise moves both up and down. Today’s was a godsend for the ITM gang

I wonder if $246 was the top indeed, something tells me we’ll see more upside before hades opens below.

Except for those of us that closed-out yesterday! But then again I wouldn't have got to sell the -c250's, so it has kinda evened-out...

I think without the APAC de-invitation we would have stayed in the mid 230's, even with that, TSLAhas taken less of a hit than most of the other EV stocks today

Despite selling off my +c240's, I'm OK to go back to the 240's again, I did buy some Jan +c300's after all...

 

[Jim Holder]

Except for those of us that closed-out yesterday! But then again I wouldn't have got to sell the -c250's, so it has kinda evened-out...

You’re not alone. I also started some housekeeping on soon expiring ITM positions a bit early in the drop but that’s par for the course. Left some on and harvested some gains as it fell further.

Looking for next bounce if we get one to sell a few again but waiting for trend to become more clear before doing any size.

 

[Max Plaid]

SPY having another go at 450... and QQQ 386... looks like they may have broken through... Game on!

 

[Max Plaid]

You’re not alone. I also started some housekeeping on soon expiring ITM positions a bit early in the drop but that’s par for the course. Left some on and harvested some gains as it fell further.

Looking for next bounce if we get one to sell a few again but waiting for trend to become more clear before doing any size.

As I said, better to take +100% profits than wait for more and get nothing, something I'm very guilty of multiple times

 

[BornToFly]

Went on a bike ride the two hours before close (Riding the Tour of Tucson on Saturday). I still have 60X 247.5 for tomorrow that I feel good about. I'm really mad at myself for rolling 242.4 to next week 247.5. I'm still letting those ride for now. I figure if I'm willing to lose $1 to close them, then I can roll them next week for a $1 debit if I have to for a better strike. Plus I will have another 160 contracts I can write to help with the roll as well.

I've debated selling the shares I bought at 243 and selling 242.5 Puts for next week. That brings a dollar profit and puts cash back into my account. But I don't want to miss on the upside of shares, so I will hold them for now. I can always sell the shares and sell Puts to offset the share loss at any point in the future.

 

[juanmedina]

Went on a bike ride the two hours before close (Riding the Tour of Tucson on Saturday). I still have 60X 247.5 for tomorrow that I feel good about. I'm really mad at myself for rolling 242.4 to next week 247.5. I'm still letting those ride for now. I figure if I'm willing to lose $1 to close them, then I can roll them next week for a $1 debit if I have to for a better strike. Plus I will have another 160 contracts I can write to help with the roll as well.

I've debated selling the shares I bought at 243 and selling 242.5 Puts for next week. That brings a dollar profit and puts cash back into my account. But I don't want to miss on the upside of shares, so I will hold them for now. I can always sell the shares and sell Puts to offset the share loss at any point in the future.

How much upside do you see? Don't you think there will be a sell the news event after the Cybertruck launch? I was really bullish for next week and the few days before the Cybertruck delivery event but after Elon tweets I am not sure, even if his tweets were taken out of context.

 

[BornToFly]

How much upside do you see? Don't you think there will be a sell the news event after the Cybertruck launch? I was really bullish for next week and the few days before the Cybertruck delivery event but after Elon tweets I am not sure, even if his tweets were taken out of context.

I don't know. I think the shares are undervalued. I want to ride the SP up to $1,000 at some point and don't want to miss the train (even if it sits in the station another year). It might drop after Cybertruck, but then we are only one month out from Tesla's best P&D ever! So selling the shares and selling Puts might not be worth it. Elon also said FSD 12 is coming very soon. I originally sold 225 Puts to try to get shares at 225, but that didn't work.

 

[Jim Holder]

They’re coming out of the woodwork…but honestly I’m not so sure how much effect these hits really have on the price action, perhaps only as a narrative we tell ourselves so we can ascribe it to something or blame someone.

Seems price waves will always zigzag and there are greater technical and market forces at play than not-really-material headlines (for example a material headline would be China kicking Tesla out, IRA canceled, another serious P&D/margin miss, Elon selling TSLA shares, etc.).

https://twitter.com/x/status/1725268697789473274

 

[intelligator]

Never open a position before a vacation. Retracted a 11/24 250cc today on the dip for 30% gain, such a small.position. Thinking to let go of more low cost basis shares...

Edit: remembered what we said about what we should and shouldn't post ... for the the other thread

 

[Cherry Wine]

They’re coming out of the woodwork…but honestly I’m not so sure how much effect these hits really have on the price action, perhaps only as a narrative we tell ourselves so we can ascribe it to something or blame someone.

Seems price waves will always zigzag and there are greater technical and market forces at play than not-really-material headlines (for example a material headline would be China kicking Tesla out, IRA canceled, another serious P&D/margin miss, Elon selling TSLA shares, etc.).

https://twitter.com/x/status/1725268697789473274

As pointed out here earlier (I believe), all EV stocks and even some related industries (lithium) took a bath today. I have also forgotten that Tesla is known for making price drops on Thursday nights, so Thursday weakness should not be a surprise.

 

[thenewguy1979]

All the news been positive this week - CPI, PPI, Jobs, etc,,,,,,IMO Santa Rally already started for SPY/QQQ. Unless there some big news coming up which can dull the momentum I think we going to 260 soon.

Get some powder ready team....

Sorry for posting that CNN link. That's was not intentional. Let stay out of politics and focus on "making money with friends" as Jim always say....

 

[Jim Holder]

Cary’s update:

Below 240 stay short, bullish momo invalidated/paused.

Over 246.68 can go long for 262.70>268.45 then liquidate longs and go short.

A close below 230>226.60>218/216.61>if holds then back up. 216/218 can be good bottom picking territory for return to 269 in December.

 

[Right_Said_Fred]

A quick reminder that tweets by Elon, unless they are about Tesla, are not to be discussed on this board because the discussions quickly become toxic. The subject certainly doesn't belong in the options thread. A dozen posts have been removed here and a multitude in the main thread.

 

[thenewguy1979]

Is this a good setup for next week? I do realized I forfeited the chance to buy the stocks at Put Assignments but this minimized the max loss. My account is small just like me

Chance of out of money at expiration is 75% per the brokerage calculation.

 

[tivoboy]

Is this a good setup for next week? I do realized I forfeited the chance to buy the stocks at Put Assignments but this minimized the max loss. My account is small just like me

Chance of out of money at expiration is 75% per the brokerage calculation.

View attachment 991312

I’d go higher up, 255 on the upper long call…save you some kibble. Same with the lower strike long put…those are some close ranges.

I don’t like condors that are more than 2:1 LOSS to MAX PROFIT… aim for 1:1 or 1:2.

 

[EVNow]

Elon also said FSD 12 is coming very soon.

LOL - he actually said "2 weeks" - the eternal joke.

They are releasing 11.4.8 soon - so don't expect V12 any time soon. Infact I the poll on when I think it will come out - I chose second half of next year.

 

[EVNow]

Is this a good setup for next week? I do realized I forfeited the chance to buy the stocks at Put Assignments but this minimized the max loss. My account is small just like me

Chance of out of money at expiration is 75% per the brokerage calculation.

View attachment 991312

I'm aiming to sell 255 or 260 CC and have sold 210 puts I may buy back to sell 200.

 

[BornToFly]

Is this a good setup for next week? I do realized I forfeited the chance to buy the stocks at Put Assignments but this minimized the max loss. My account is small just like me

Chance of out of money at expiration is 75% per the brokerage calculation.

View attachment 991312

You do IC that close to the SP, full loss will happen. I give it higher than 25% chance for next week....