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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
thenewguy1979
"The" Dog
If we dump hard to 235 without a long wick watch for a rebound to 245 -- DI003 posted this days ago
Could be worse - imagine we were just HODLing the stock... or even worse loaded up above $300... yeah, I did that, pre-second split, doh!
Anyway, BTC 60x -c245 @$1.5 -> STO 100x -c240 @$3.1 to straddle the 40x -p240's, I do enjoy a good straddle... who doesn't?
Anyway, BTC 60x -c245 @$1.5 -> STO 100x -c240 @$3.1 to straddle the 40x -p240's, I do enjoy a good straddle... who doesn't?
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thenewguy1979
"The" Dog
agreed. It's been flat for nearly 2 weeks. Could have just sold some otm put or call - or do a condor/straddle and made money both ways.
jeewee3000
Active Member
I just BTO SEP2025 C200 @85.0 when SP was at $234.5.
I've put in more orders for when SP would crash to ~$210, ~$180 and ~$150. You never know
. (Note: this position and these orders are meant to be left for a few weeks. Either a small rally comes and I take profits, or the SP crashes some more and I DCA. Unless the prospects are very gloom of course).
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My upward support line is different and has us below it. Wonder why?
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Stock looking weak. Not regretting last week's decision to BTC my -p230's 12/15. But who knows, maybe 235 is strong enough to hold.
Started small positions:
STO 2x -C280 3/15/24 @$9.00 (for expected Jan/Feb weakness)
BTO 10x +C250 12/29/23 @$3.40 (lotto)
STO 2x -C280 3/15/24 @$9.00 (for expected Jan/Feb weakness)
BTO 10x +C250 12/29/23 @$3.40 (lotto)
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SpeedyEddy
Active Member
Last options opportunity of a year, so medium-term-ones that are left in some portfolios as a hedge, I would guess..
SpeedyEddy
Active Member
I am watching it closely, and came to the conclusion, it is not yet decided. Momentarily there is a 13 dollars range, but, if this is not a little correction we might converge again, because 200 and 365 are on the low end. 20 and 50 are on the high end, so falling SP this week means converging again, maybe the range can even get below the 12 bucks, in which case, we have to wait even longer for a diverting move. The theory is still intact, because we wait for a unidirectional move of a few days, before it is sure, the smallest MA4x convergence is definitely behind us. Of course (as stated above), buyers of options like myself are losing, because theta is melting big time. But I refuse to take a risky short option bet as long as MA4x conversion can be stretched. Better would have been to totally stay out of long options, but who would have thought this coiling would take so long. You drew a wedge, so you know there is no possibility this will last very long. It will break out, but at what point and in what direction: ¯\_(ツ)_/¯
Ugh, this 12/15 +c260 position was a loser. Bailed out at open this AM, for a ~25-50% loss between the two separate lots. Rolled down a tranche of 12/15 -c270s to 12/15 -c250 as well.
My first trench is at 235 to get shares back so I'm hoping 235 doesn't hold. If we blow past 235 then I can roll it a little down. Very nice to have this option when its cash secured.
I have not opened any CCs for this week as there isn't a nice up day. Have to follow my rules and sell on strength or regret it.
SpeedyEddy
Active Member
uhhh BTO 12/15 P 250 for delta..
AND BTO some extra 12/15 P 220 for a quick drop, so will sell with a bit of theta left
AND BTO some extra 12/15 P 220 for a quick drop, so will sell with a bit of theta left
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thenewguy1979
"The" Dog
Tesla looking weaker by the hours. I might have to bail on those long calls if we don't recover soon. As CPI and Jpowell can delivered a double whammy and down we go.
Based on my 2 months experiencing doing both long and short - selling is the only ways to go for consistent incomes. Going long might delivered more immediate massive gains but risk are too high and the burns are too deep. Got to be a smarter doggy if want more then dry dog food.
Based on my 2 months experiencing doing both long and short - selling is the only ways to go for consistent incomes. Going long might delivered more immediate massive gains but risk are too high and the burns are too deep. Got to be a smarter doggy if want more then dry dog food.
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