The losses are every time we have to roll. Which I just did for my -c225s: rolled flat to next week for $1.65 credit/contract. Will hold off on rolling higher strikes a little longer to see if we retrace.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
The losses are every time we have to roll. Which I just did for my -c225s: rolled flat to next week for $1.65 credit/contract. Will hold off on rolling higher strikes a little longer to see if we retrace.
I can't speak for others, but most weeks I turn a profit - for example, I had a run mid year, three months where I didn't have a single losing position. However, when the losses do come, usually because of a sudden, hard, unexpected reversal, they can be spectacular*
I think because many of us only trade TSLA and follow the company in minute detail, watch the macro, listen to several TA specialists, both in-house and on YT, etc., it gives us that tiny edge that makes all the difference with option trading
*I have 100x Jan 2024 GOOGL +c150's that I paid +$25 when the split was announced, these are almost certain to be a total loss of $250k in the coming weeks, but OK, long expected at least, just recent glimmers of hope that they might recover, still could happen, but GOOGL seems as fickle as TSLA recently
I find that trading around a "core" position helps as well.
Thanks to all the fantastic input here and hive-mind, I flipped skewed bullish and consolidated contracts during this morning's lows to the below for now.
Will STO new -12/8 and 12/15 CC's as the trend becomes clearer next week.
Longs
6,000 @$328 CB (I know, I know, I was late to the game)
Strangle (MaxPlaid Special)
10x -P290 9/20/24 @69.13 (-$74k) - Gains as SP rises
10x -C300 9/20/24 @20.59 (-$24k) - Insurance in case we dump
LEAPS
15x -C510 LEAPS 1/16/26 @21.45 (-$33k) - Insurance in case we dump
Might buy some +C LEAPS if we cross $242 and hold.
Will STO new -12/8 and 12/15 CC's as the trend becomes clearer next week.
Longs
6,000 @$328 CB (I know, I know, I was late to the game)
Strangle (MaxPlaid Special)
10x -P290 9/20/24 @69.13 (-$74k) - Gains as SP rises
10x -C300 9/20/24 @20.59 (-$24k) - Insurance in case we dump
LEAPS
15x -C510 LEAPS 1/16/26 @21.45 (-$33k) - Insurance in case we dump
Might buy some +C LEAPS if we cross $242 and hold.
Seems to be my fate recently to not be in front on my computer when Friday trading opens, today was grocery shopping (normally done on a Saturday, but have band rehearsal tomorrow -> gig to play on Tuesday) and then taking Wilma to the vet... still, took my Mac with me and used my iPhone hotspot to start sorting out this week's expiries, what did I do?
BTC 10x -p245 @$9.9 (net -$5.3)
BTC 32x -c230 @$4.9 (net +5.45)
Then set a 1:2 -240 ratio straddle for next week: STO 30x -p240 @9.2 + 60x -c240 @$4.2
Still in play for today 50x -p230 & 100x -c250, feeling fairly confident that they will expire, but will need to keep one eye on them
Also for 12/8, 100x -c260 still there
BTC 10x -p245 @$9.9 (net -$5.3)
BTC 32x -c230 @$4.9 (net +5.45)
Then set a 1:2 -240 ratio straddle for next week: STO 30x -p240 @9.2 + 60x -c240 @$4.2
Still in play for today 50x -p230 & 100x -c250, feeling fairly confident that they will expire, but will need to keep one eye on them
Also for 12/8, 100x -c260 still there
EVNow
Well-Known Member
thenewguy1979
"The" Dog
Tesla is trying hard to go green. Definitely helped by Macro. Based on Trajectory we are way ahead of the 235 bottom line.
Guess now come the big dead bounce to 255/260......
Thanks for the great feedbacks and supports team.
Guess now come the big dead bounce to 255/260......
Thanks for the great feedbacks and supports team.
If it makes you feel any better I lose money on a daily basis and hide it from everyone.
So I guess 234 is the line in the sand going forward. As long as no 4h candle closes below 234, long at support. If one 4h candle gives in, time to get defensive. Have a great weekend. I'm logging off early.
Well, it did for one tick at least, up 11c from yesterday's close!!!
I guess positioning for close now, and although MP was $240 at open, we know there's a preference to defend call walls above puts most of the time, so a ~$237.50 would seem to be the likely target
thenewguy1979
"The" Dog
Thank for the update Jim, DI003, and Team.
Big man Powell is done talking. Unless some crazy news coming out later today - I think we will settled around 237-238 level.
Guess now we are all loaded with call going into next week
I hold off on the Condor till we see what happen Monday.
Had a great week with the team here. Have a great weekend and see you back in the Casino on Monday.
Big man Powell is done talking. Unless some crazy news coming out later today - I think we will settled around 237-238 level.
Guess now we are all loaded with call going into next week
I hold off on the Condor till we see what happen Monday.
Had a great week with the team here. Have a great weekend and see you back in the Casino on Monday.
The Fidelity website and app won't let me roll, I get an error message that I don't have the position in my account when I obviously do. Anyone else?
I can preview order to roll 12/15 to 12/22 same strike, obviously will not try to roll... if that helps you. Call the active trader desk ... 877-907-4429
I'm with TDA and also have issues on rolls, often it gets stuck on "1 contract remaining" and the price passes by while waiting and waiting. I've since been doing one leg at a time manually (and many times saving $$ too by setting prices I want instead of the murky "mid" which favors the MM).
So if we are in a bullish trend into December, what are some calls or other option plays we can try to capture upside?
+C250 1/5/24 (30 days out)? +C LEAPS for more delta? -P220 1/5/24? Other ideas?
+C250 1/5/24 (30 days out)? +C LEAPS for more delta? -P220 1/5/24? Other ideas?
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