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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
EVNow
Well-Known Member
Sold -P175 for 50 cents. IV is 154% ! I won't be sad to even take stock at that price.i sold too early 2/2 -p175/+p135, 6 delta became 8
Still planning to sell 245 or 240 CC. 15% OTM is safe, right ... right ?!
FWIW, the only thing that might interfere with my sleep would be the 16x-290P 9/20/24. Everything else is a solid long-term strategy. That one is just something to chip away at slowly.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
Concur, but I’d add 189.2x in between 194.07 and 184.52.
Certainly going to be interesting though.. isn’t that why we’re here!?
EVNow
Well-Known Member
If ER is bad we'll probably hit 170s ... like Cary says. Not this week, but within a couple of weeks.
Alright I've closed as many CC's as I'm comfortable closing. What a weird setup going into an earnings report.
5 straight weeks of a selloff...nearly every day underperformance of the macro's. The ball is in Tesla's court to cause a major rally or at least some sort of bounce before we head lower.
If they do somehow surprise Wall St I'll be kicking myself over not closing much more of my CC's but this setup is just bleh. Way to murky for me to think there's a guaranteed bounce coming, even if bounce isn't sustained.
5 straight weeks of a selloff...nearly every day underperformance of the macro's. The ball is in Tesla's court to cause a major rally or at least some sort of bounce before we head lower.
If they do somehow surprise Wall St I'll be kicking myself over not closing much more of my CC's but this setup is just bleh. Way to murky for me to think there's a guaranteed bounce coming, even if bounce isn't sustained.
chain said ~68% chance it will happenOK, gotta be honest. When I got up this morning, I did not expect to see 206.XX before ER....
it's interesting that this week's Low=206.27 and High=217.80 is only $1 off the Expected Move
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EVNow
Well-Known Member
Finally sold - 170 and 175 puts, 245 and 250 calls.
I guess I'm breaking my - no option selling around ER rule, so we'll see. But unlike some other ER weeks, I didn't see until Wednesday to make sure I'd be still 15% OTM.
I guess I'm breaking my - no option selling around ER rule, so we'll see. But unlike some other ER weeks, I didn't see until Wednesday to make sure I'd be still 15% OTM.
I have 100x -p205 for this Friday, but written against March +p200's, so the risk is very low, worst case I'll break-even on the two. If the SP does dump, the plan is to roll the shorts down to -p200, then keep writing that strike until the March expire
I'm more worried on an upside move, mostly because it has been beaten down 20% the last few weeks while the macro went up, as someone said earlier, maybe all the bad news is priced-in and anything not so bad will reverse things from here
But I also think that macro is one fat AI bubble, which I fear may pop sometime soon... and drag TSLA down further...
I’ll start to add to long positions under $194 10-15% of overall position size target (I think max risk for 2024 is ~ $155), but will sell up to 70-80 -p CSP if premiums rise down to $175, targeting between $185-190 plus ~ 7-9$ in premium for next week or Feb/Mar. but, it’ll all really depend on earnings and call.
ADD: Interesting how low the volume today has been..I’ll have to see what prior DAY OF trading volumes were like.
roughly 4M closing cross though..
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Belay my last.
TESLA
MEET
FLOOR
Not making any moves till clearly sub $190. Pretty sure we’ll get some support at $186, we’ll have great oppty tomorrow for -CSP
“2024 VEHICLE VOL GROWTH MAY BE NOTABLY LOWER THAN 2023”
Ah, that's why it dropped, otherwise the numbers aren't too bad“2024 VEHICLE VOL GROWTH MAY BE NOTABLY LOWER THAN 2023”
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