I too "rolled" more OTM 210-215 for this week into next week but lowest strikes are at 215. I see ones that I rolled from yesterday are already ~50% gain. Seems like the first 0-50% gains can be had very quickly if timed right.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
SW EW update:
TSLA would have looked better for OML continuing down as a vth of C from 205s on 2/16. Challenging that level now is starting to be "more than iv" although not a reliable confirmation of a bottom to wave (2) yet.
It is still prudent to ALLOW for OML in the C of (2) toward the $160s even if it is becoming less probable.
Even allowing for that lower low, the Risk:Reward here for a longer-term swing as the rest of an Ending Diagonal for Primary wave 5 of Cycle III targeting well North of $700 (~2026-2027) is GREAT.
Can start to build a long position with these parameters and watch the smaller degrees for further confirmation, leaving room to add in $160s (and maybe even $153s) if we do get it.
Remember this is an Ending Diagonal, which means the (3) should be an ABC move, and that A can be an abc. Diagonals can be choppy, but at this degree that should provide many smaller multi-day & multi-week swings to trade within the pattern too.
TSLA would have looked better for OML continuing down as a vth of C from 205s on 2/16. Challenging that level now is starting to be "more than iv" although not a reliable confirmation of a bottom to wave (2) yet.
It is still prudent to ALLOW for OML in the C of (2) toward the $160s even if it is becoming less probable.
Even allowing for that lower low, the Risk:Reward here for a longer-term swing as the rest of an Ending Diagonal for Primary wave 5 of Cycle III targeting well North of $700 (~2026-2027) is GREAT.
Can start to build a long position with these parameters and watch the smaller degrees for further confirmation, leaving room to add in $160s (and maybe even $153s) if we do get it.
Remember this is an Ending Diagonal, which means the (3) should be an ABC move, and that A can be an abc. Diagonals can be choppy, but at this degree that should provide many smaller multi-day & multi-week swings to trade within the pattern too.
ChiefRollo
Member
ChiefRollo
Member
The reason I'm unemployed right now is because I can't stand being asked redundant questions. "Are you sure of this?" "Yes mam, it's just math, mam." Seems like no matter how many times I say something, I always need to clarify myself once more.
ProfessorZoom
Member
Just discovered this thread. I've been trading CCs since December, I kind of just arbitrarily pick a far out (10%, 15% otm strike) on a green day and close out at 0.05 or let it expire if it's still far otm. I haven't had any losses yet (I'm on my 9th trade). Do you guys have any tips for a newbie? My shares are low basis so I don't want to do lower strikes to get exercised to play puts until I get assigned.
Welcome! I'd suggest start at the beginning of this thread, a lot of great material there, read thought it all and watch the courses posted.
Best of luck!
Welcome! As a start, read all YTD posts in this thread plus the first few pages that include @adiggs admonition to do the study course. There are various opinion leaders and various approaches in the thread, some technical analysis oriented and some more feel for stock momentum, so you pick what you think makes sense. Implicitly, all posts are “not financial advise”, you’re on your own
EVNow
Well-Known Member
I still remember Bieber got caught by police while driving a shiny chrome wrapped Fisker ....
Surprisingly still popular among kids, though.
ps : In other news, I got the invite for FS CT. Yet to decide whether to order ....
Be careful. Stick to CCs and cash secured Puts for a LONG time. Many of us got sucked into the rabbit hole of increasing risks for increases profits, until we lost $millions.
I got scared of spreads after my first $1,500 loss. I'm a fast learner.
~$200K was what it took me. I'm a slow learner by nature.
Something to think about:
Low of week 2/5 = 175.01
Low of week 2/12 = 182.11
Low of week 2/19= 189.13
Low of week 2/26 = 192.00
If we can get a monthly close over $200.55 (today) that may bode well for some more upside in March, and help bolster @SpeedyEddy's thesis of bullish momo continuing.
Low of week 2/5 = 175.01
Low of week 2/12 = 182.11
Low of week 2/19= 189.13
Low of week 2/26 = 192.00
If we can get a monthly close over $200.55 (today) that may bode well for some more upside in March, and help bolster @SpeedyEddy's thesis of bullish momo continuing.
Last edited:
thenewguy1979
"The" Dog
Spread and going Long will knock your wallet fast. Selling Call/Put is the safer path but can also be much less rewarding.
I have learned not to go into spread or Long till receiving some conviction from the Team and especially our TA expert - dl003
thenewguy1979
"The" Dog
just FYI, you don't have to spot a triple top on different timeframes like that, just like whether it's touched a trendline on what timeframe.
A triple top is a triple top regardless of timeframe.
thenewguy1979
"The" Dog
Thanks dl003 - guess that drop is happening sooner then later.
Is there an exit plan for those +190/-185 put spread exp 3/22?
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