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Wiki Selling TSLA Options - Be the House

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Three days pinned into range:

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Why .. ? For option sellers the best outcome is no change in SP !
Because my positions are skewed bullish and need $225+ to begin unwinding some if TSLA will be range-bound or down for several months.

In addition to longs I have:
6x +C255 9/20/24 @25.39 (now 18.40; -27%; extrinsic 18.70)
10x +C300 1/17/25 @19.53 (now 16.55; -15.65%; extrinsic 16.50)
5x +C150 12/19/25 @110 (now 93.25; -14.75; extrinsic 29.87)

16x -P290 9/20/94 @61.82 (now 82.95; -34%; extrinsic 4.01)
10x -P300 1/17/25 @80.00 (now 95.50; -19.50%; extrinsic 6.58)
3x -P300 6/18/26 @101.75 (now 108.07; -6.20%; extrinsic 17.79)

No covered calls currently.

I titled bullish too early back when we were in the $230's and averaged down instead of cutting on the way down. Since there's plenty time on these (first doesn't expire for 240 days...) I can hang onto them, I just don't like the risk if we dump to 150's and I need to worry about maintenance calls :rolleyes:
 
Feeling like we might get a little upwards movement on ER day, entered some limit orders before today’s open for 26Jan$230 CC at $1.50, 1.70 and 1.90 after yesterday’s close at $1.33. They all hit by 11:00 AM at an average of $1.72. Pretty good $ for 3 days. Didn’t have the nerve to do $210-$220 which are really juicy.
 
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Reactions: Jim Holder
Staying away from selling calls until Thursday, I have a couple bought. I'll roll 1/26 -p210/+p170 to 2/23 ... ideally at SP 212 but getting close. Moving out a month will remove some of the weekly jitter and add some wiggle room (time to manage) should we move strong in either direction. Thanks @SebastienBonny (sorry, tagged Speedy in error) for sharing this perspective.
UPDATE: sent 1/2 to 2/23 same strike, 1/4 to 3/15 imprved by 5$, left 1/4 in case we have some positive ER response. Should have room to manage these if I'm wrong. GLTA!
 
I tried to open 50 x (bearish) BPS 180-175 2/2 on the pop to $215, aiming for the middle bid of $0.22, but we fell back before I finished entering the order and then I found myself chasing the price ($0.31 now). I decided not to pursue it. Maybe I'll have another chance tomorrow.

I decided that a few cents should not stop me from executing on my plan, so late yesterday I still BTO the BPS 180-175 2/2, for $0.30. It's currently doing $0.40 but that could be $0.10 tomorrow or it could be $1.00. Will know in a few hours.