Wiki Selling TSLA Options - Be the House

[thenewguy1979]

If you figure out the sweet spot, please let me know I settled on 1/26 c230 and 2/2 c250. Relatively small positions given the highly speculative nature of the position, but I like the risk/reward ratio here. Will get out on any decent rise into earnings; unsure if I would just ride out continued weakness into earnings - will take that as it comes.

How about this? Plenty of time to gain some profit on penny if there big rise.

 

[Jim Holder]

1/19 monster OPEX almost over, options did a nice cleanup on calls, negative gamma also increased dramatically @$210:

Earlier today:

 

[intelligator]

next 2 weeks are brighter but earnings unknown

Interesting ... if only these gex stick, I might be able take credit rolls AND improve by $5 on 1/26 -p210 40 wide spread to 2/2 and then again to to 2/9 to get behind the 207.5 strike. As @BornToFly called, unlikely and shouldn't have the expectation ... all depends on the read next week. Nice to have a visual map of where we may vistit. Thx Yoona !!

Nothing that I need to wait around for today, GLTA !

 

[adiggs]

Trying something out I haven't done before - sto -210p / -210c for expiration today. Looks to me like we're pinning to 210. I figure I'll be riding this out to the end of the day. Total credit is 1.50. Position is a single contract so there is only small money on the line. I'm interested in seeing how this plays

 

[thenewguy1979]

Sold an Iron butterfly today for $1.5 targeting 210.

Thought it was a home run then noticed date of expiration 1/26...........doggy fingers.

 

[thenewguy1979]

Trying something out I haven't done before - sto -210p / -210c for expiration today. Looks to me like we're pinning to 210. I figure I'll be riding this out to the end of the day. Total credit is 1.50. Position is a single contract so there is only small money on the line. I'm interested in seeing how this plays

I did the same thing but choose wrong expiration

 

[adiggs]

Trying something out I haven't done before - sto -210p / -210c for expiration today. Looks to me like we're pinning to 210. I figure I'll be riding this out to the end of the day. Total credit is 1.50. Position is a single contract so there is only small money on the line. I'm interested in seeing how this plays

I expect that management of the position - close the winning leg for a near max gain in an hour or so, and roll the losing side out a week. Straddle that with a replacement contract. I've got so much bias in the rest of my account to a move up that I'm more likely to roll this trivial position down a strike or 2. With little time value at roll I should be able to choose my own strike between 200 and 220.

 

[elasalle]

Felt a bit better with OpEx expiring, GF Neveda and Panasonic news (see main thread)
so moved my sold 200 Puts for next week to 220 Puts ... (almost like buying, just like ~ $2 discount ..)

 

[BornToFly]

How about this? Plenty of time to gain some profit on penny if there big rise.

View attachment 1010452

I did the same play. Very inexpensive for possible $5 gain. Also if we rise next week, I can sell 260CCs on top of this with less fear.

 

[juanmedina]

Closed my $210p's and opened $180p's for next week at $0.60. Right now I am 80% cash earning 5% APY and selling a few options while the market rips .

 

[intelligator]

How about this? Plenty of time to gain some profit on penny if there big rise.

View attachment 1010452

I Like that a lot ! Asking for my own learning purposes, your input as to when you'd consider, if ever. If you buy 1x +c265 ,reduce +c255 by 1, makes this a butterfly, for $4 + fees, max gain is $496. I suppose it's another way to lower the outlay if you had many of these.

 

[thenewguy1979]

I Like that a lot ! Asking for my own learning purposes, your input as to when you'd consider, if ever. If you buy 1x +c265 ,reduce +c255 by 1, makes this a butterfly, for $4 + fees, max gain is $496. I suppose it's another way to lower the outlay if you had many of these.

View attachment 1010465

That a good one.

Wasn't thinking of the butterfly but one would have to wait till expiration for the SP to hit 260 for max gain, in this case 496. Same goes for the BCS I guess.

My thinking was to setup the Call side 1st. Then wait for a pump early next week before ER and added the below BPS to create an straddle with lower cost.
But does seem cheap already with current pricing.

 

[Jim Holder]

SO hard to watch NVDA, AMD, and even SPY, QQQ ripping making new ATH's each day while we TSLA diehards get the nosebleed seats. Yes, yes, I could dabble in other tickers instead of grousing, but I don't know how they behave and don't want to get smacked down by me making stupid moves. I guess grousing will do for now

 

[BornToFly]

Yoona's data shows we have never been down more than 16% from this Friday close to post ER close. So I did +150/-170 BPS for next week for 0.12
24% OTM....

 

[thenewguy1979]

Just an FYI.

I guess my balls did grow bigger.

Since last night I was holding -215P and they were ITM at 208 this morning. No assignments. So I continue to hold till the prior hour and BTC at a loss during the rebound to 211. Now SP just went green. Crazy movements.

 

[Cherry Wine]

Yoona's data shows we have never been down more than 16% from this Friday close to post ER close. So I did +150/-170 BPS for next week for 0.12
24% OTM....

I like it, especially with the stock being down so much going into earnings already.

 

[EVNow]

IMO what is saving TSLA at this point is Nasdaq. If Nasdaq was down 1% instead of up 1.5%, SP would have broken 200.

So ... if Nasdaq falls early next week, I can see us at 190 or so Wednesday evening. A bad ER will push us to 170 ...

Ofcourse, we could also be up at 230 by Wednesday and a good ER takes us to 250 ?!

 

[StarFoxisDown!]

SO hard to watch NVDA, AMD, and even SPY, QQQ ripping making new ATH's each day while we TSLA diehards get the nosebleed seats. Yes, yes, I could dabble in other tickers instead of grousing, but I don't know how they behave and don't want to get smacked down by me making stupid moves. I guess grousing will do for now

When you have management themselves saying 2024 will be an in between year for growth, it really shouldn't be a surprise. There's nothing out there to juice earnings in any meaningful way except for Energy and even then, the Shanghai Megapack factory opening got pushed from Q2 to Q3 and figure mass production won't be till Q4.

FSD adoption and thus revenue is the only thing that can juice earnings and thus the stock into an S-curve again and Wall St simply doesn't believe it will happen in 2024 (or really even in 2025).

Frustrating but at the same time, can't really blame Wall St for losing faith. Everything Tesla has announced in the past 1-2 years has seen delays. Take the Semi announcement today.....that's just to start construction of the factory . Semi will be a huge product for Tesla since its commercial business sales but man, it's been how many years now???

2024 and probably early 2025 is all about side income from options it seems. I'm sure Wall St will throw a decent rally in there at one point or another to make money on the upside and then ride it back down to low to mid 200's before any meaningful rally actually happens that takes us back to ATH's.

 

[kabin]

SO hard to watch NVDA, AMD, and even SPY, QQQ ripping making new ATH's each day while we TSLA diehards get the nosebleed seats. Yes, yes, I could dabble in other tickers instead of grousing, but I don't know how they behave and don't want to get smacked down by me making stupid moves. I guess grousing will do for now

Yep, and SMCI is up 37%. Almost anything AI related is considered gold.

 

[intelligator]

Just an FYI.

I guess my balls did grow bigger.

Since last night I was holding -215P and they were ITM at 208 this morning. No assignments. So I continue to hold till the prior hour and BTC at a loss during the rebound to 211. Now SP just went green. Crazy movements.

Way to go !!!

My understanding is that assignment or having shares called away doesn't happen during the day; it happen after hours, your broker will match random underwater positions at that time. On Fridays you may get a call from your broker for that day's expiry if you are close or underwater.