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Wiki Selling TSLA Options - Be the House

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Wow, those are cheap and I almost jumped in to buy some, but SP would need to open below $228 on Monday morning for profits, but definitely a good idea for spread writing - my problem is that the broker fees to open them is wzy too muxh, if I bought 100x @8c, I'll pay $250 in fees, then another $250 if I wanted to sell them
Ouch! At Fidelity I'll spend $65 on the way in and $65 on the way out. At Tastytrade I would pay $10 on the way in, and $0 on the way out (for 100).
 
I was wondering why are we stuck around $237 now and then I saw this updated GEX chart, Duh!

:cool:

1704486952715.png
 
Last set of BTC -C265 1/19 in the hopper waiting for $0.81.

I plan to be flat on short calls over the weekend as we held $235 so far.

Will STO a fresh set again into any strength on Monday.

Edit: And filled.

First week of 2024:
1704487255273.png

Good enough for me ;- )

Holding:
-P290 9/20
-P250 1/2025
+C150 12/2025
 
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next week 1/12 predictions

options market is guessing 225-250, about 5% move

1704489190942.png


1704489762820.png


1/19 is 230-250 for now

1704489319716.png


today's trades for 1/12, size >= 1000

1704489423980.png


today's million-dollar trades, 1/19 +c237.50 👀

1704489498832.png


today's last 15 minutes is bullish

1704489631591.png


this week is within 1σ of last week; supported by 50sma and AVWAP, and possibly next week by lower BB

1704490490165.png


on the 4 Hr: there is support by AVWAP

1704491281617.png
 
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I don’t like these wicks though on the daily, nor the bearish engulfing weekly, nor almost ending on the lowest SP of week and day… but I like a possible new MA4x convergence incoming, so if this one is tighter than the last one on dec 14, that was a false one and we have to revive it, as real starting point of a 25% move within 3 months.
 
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I've seen people referring to charts using a 4h time scale - is that 2 candles per day - one for the first half of the trading day, and one for the second half of the trading day?

What time scales do you primarily use and track closely? I've got a 15 minute and 1 day chart setup as I'm getting started. I use the 1 day to get a visual view about the big trend.

I was thinking the 1h for doing my weekly level trades makes the most sense, but that's about 7 or 8 candles a day and maybe 40 in a week - that seemed like not really enough for those weekly scale decisions though. So I've settled on the 15 minute candles instead.
 
I've been thinking a lot about your strategy of scalping premium on longer dated Calls. This has probably worked well this week because the SP has been going down. I don't see it working well when the SP is rising, and for me, the premiums aren't good enough on something like a Jan 2025 350 Call. Am I wrong?
 
I've been thinking a lot about your strategy of scalping premium on longer dated Calls. This has probably worked well this week because the SP has been going down. I don't see it working well when the SP is rising, and for me, the premiums aren't good enough on something like a Jan 2025 350 Call. Am I wrong?
You either play the house or play the direction. They are definitely playing the direction….
 
I've been thinking a lot about your strategy of scalping premium on longer dated Calls. This has probably worked well this week because the SP has been going down. I don't see it working well when the SP is rising, and for me, the premiums aren't good enough on something like a Jan 2025 350 Call. Am I wrong?
You have been overly bullish. You need to recognize that. You didn't sell calls on Tuesday as you saw TSLA was holding up well, or this morning for I don't know what the reason was. If you are forever haunted by the irrational fear of the SP shooting up out of nowhere, then a lot of strategies won't make sense to you because in your mind, the only direction the stock can take is up.