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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
I see a volume of 68.5M shares. Fanboys can afford like 1.5M of that volume. Even that's impressive if fanboys can collectively dump 288M dollars into Tesla over the past 4hrs.
The more the macro's run and they longer they run without a pullback, the harder the eventual pullback is
Next week's puts appear to be receding, GEX shifting to greens.
Nope, simply because I believe there's a very cold inflation reading that's going to happen sometime in the next 1-3 months that will force a major Fed move. As in a much larger rate cut than expected.
A lot the runners right now (QQQ, NVDA, MSFT, etc...) will be in valuation exploratory in a pullback so too risky to say what they pull back and for how long. For TSLA however, I'm positioning to take advantage of a pullback to 160 with a intraday dip to 146. But not doing it by buying puts.
What are you thinking of outside of puts? I started selling some calls over resistances with some time on them to allow for the gyrations, but would like to hear other ideas too.
alrighty, i'm done for the day
this is my last tsla trade (for now), and i am moving on to nvda/spy/spx; possibly meta but not sure yet... i hesitate to clutter this thread so i decided i'll stop volunteering info unless asked
as usual: do not be greedy - slow and steady wins the race...
ping if you need anything
i'm off to the movies!
edit: last friday's gamma predicted today's approximate close (tallest wall is indeed the magnet)
this is my last tsla trade (for now), and i am moving on to nvda/spy/spx; possibly meta but not sure yet... i hesitate to clutter this thread so i decided i'll stop volunteering info unless asked
as usual: do not be greedy - slow and steady wins the race...
ping if you need anything
i'm off to the movies!
edit: last friday's gamma predicted today's approximate close (tallest wall is indeed the magnet)
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Thanks for all your inputs, take care of yourselfalrighty, i'm done for the day
this is my last tsla trade (for now), and i am moving on to nvda/spy/spx; possibly meta but not sure yet... i hesitate to clutter this thread so i decided i'll stop volunteering info unless asked
as usual: do not be greedy - slow and steady wins the race...
ping if you need anything
View attachment 1016953
i'm off to the movies!
View attachment 1016945
edit: last friday's gamma predicted today's approximate close (tallest wall is indeed the magnet)
View attachment 1016958
View attachment 1016967
What have you learned this week?
Trading options is tricky. I've been using +/- gex , OI shifts, max pain, put:call ratio and delta to choose the direction I want to sell into. When the underlying is not moving, I reach for IC. Otherwise, I may sell calls but can only partake in the put side with spreads.
The past two weeks I traded SMCI and NVDA, left my TSLA DITM spreads for what appeared to be a rising SP. Next week I will either close them or roll them to 4/19 , the week after next I will be on vacation so will not have anything open that would need management.
What I learned the past two weeks as that while I nailed the sold P and C edges, it doesn't matter day of expiry when SP creeps close AND THERE IS NO LIQUIDITY. Especially with SMCI, in my case, trying to close these before market close for pennies, it's almost impossible at the ask, not a chance at midpoint. When I opened this IC, the volumes were low and bid ask difference was about .15 for each position. Choose strikes that are safe, well OTM but also those that have volume and OI. Also, don't wait until end of day Friday to close. I did because this morning it would have cost me about a 100% loss to close this same spread that now will close at $50, a profit of about 98% DIDN'T FILL , I hope that after hours we don't touch the short side and get called. I did the same with NVDA, that filled however. Lot's to learn when you trade another underlying that isn't so liquid like TSLA.
NIce weekend all!
Trading options is tricky. I've been using +/- gex , OI shifts, max pain, put:call ratio and delta to choose the direction I want to sell into. When the underlying is not moving, I reach for IC. Otherwise, I may sell calls but can only partake in the put side with spreads.
The past two weeks I traded SMCI and NVDA, left my TSLA DITM spreads for what appeared to be a rising SP. Next week I will either close them or roll them to 4/19 , the week after next I will be on vacation so will not have anything open that would need management.
What I learned the past two weeks as that while I nailed the sold P and C edges, it doesn't matter day of expiry when SP creeps close AND THERE IS NO LIQUIDITY. Especially with SMCI, in my case, trying to close these before market close for pennies, it's almost impossible at the ask, not a chance at midpoint. When I opened this IC, the volumes were low and bid ask difference was about .15 for each position. Choose strikes that are safe, well OTM but also those that have volume and OI. Also, don't wait until end of day Friday to close. I did because this morning it would have cost me about a 100% loss to close this same spread that
NIce weekend all!
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Yes, liquidity can be a real issue, I'm always careful to pick strikes with plenty of open interest, volume and a narrow Bid/ask - if worst comes to worst you should be able to close out with a market order, in theory the MM's have to fulfil that...
I has this issue last year when I was trading GOOGL for a while, was a nightmare trying to close out lateran Friday, as a rule now I tend to deal with everything by Thursday at the latest, way less stressful
Nice to see a bullish close for once!
Nice close! Optimistically bullish but the $194-$196 labyrinth lies ahead.
Since we were holding over $190-$193 I bought some calls in case momo takes us higher next week (one can dream, right?
).
BTO a handful of +C195 2/23 @5.00
Also added a few to +P180 3/28 @5.42
I’m happy TSLA is battling it out here in the $185-$200 range rather than in the $170’s and putting some of my short puts in peril of early assignment.
Let’s see what the good man brings us next week!
Have a great weekend everyone
Since we were holding over $190-$193 I bought some calls in case momo takes us higher next week (one can dream, right?
).BTO a handful of +C195 2/23 @5.00
Also added a few to +P180 3/28 @5.42
I’m happy TSLA is battling it out here in the $185-$200 range rather than in the $170’s and putting some of my short puts in peril of early assignment.
Let’s see what the good man brings us next week!
Have a great weekend everyone
EVNow
Well-Known Member
TSLA is holding steady because the market has been bullish. A bearish market could have easily seen tsla fall to 160 ….
Agree. There are some stupid institutional traders buying in too. One trader in CNBC said, "Elon delivered a great Earnings Call and i bought in".
Lack of bad news. These actors could push TSLA up. Lack of volume suggests TSLA MMs are largely absent.
ChiefRollo
Member
Perhaps this is the pullback from the more and longer they had run in the other direction. If we remove the great 2022 recession fear (that never materialized) induced periods from the chart, where would the market be from the prior trajectory?
TSLA has underperformed significantly when you compare it to indices. Over a 12 month period
QQQ 43.5%
NASDAQ 34.26%
SPY 22.05%
TSLA -3.84%
NVDA ......
Let that sink in.
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