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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
$171.7 matches this beautifully:
"In this structure $171.90 is the c=a. It would also fit with the micro iv-v that appears to be needed in this last segment. Watching for a reaction if/when price strikes that level. Lower is possible as the potential target range in the count illustrated here in the blue box."
Cheers to chatGPT for the confirmation text below as I'm looking for the volume. Next week I'd think will be bumpy with so much on the weekly market calendar.
Confirmation: While a bullish divergence may indicate a potential reversal, it's essential to wait for confirmation from other technical indicators or price action signals before making trading decisions. Traders often look for additional signs of strength, such as bullish candlestick patterns or increased volume, to validate the divergence signal.
Interesting stat FWIW:
Not sure if we can infer much from the unusual drop at the beginning of 2023, since many call it an “anomaly,” but when TSLA hit that 1-year bottom ($101-$104) RSI (9) was reading 20.5. This week RSI (9) is at 31.3.
Not sure if we can infer much from the unusual drop at the beginning of 2023, since many call it an “anomaly,” but when TSLA hit that 1-year bottom ($101-$104) RSI (9) was reading 20.5. This week RSI (9) is at 31.3.
SPY/SPX related (not TSLA):
If we see breakdown below $4946, is anyone here considering buying puts pointing to the $3800-$3500 area as part of a larger degree decline. It’s a long way down from the $4946 support level, but it’s the region from which this ending diagonal began.
If yes, what strike/DTE?
This market has not been terribly kind to bears, so even though we are seeing some signs that a top *may* have been struck, we need confirmation to be seen (especially in the IWM) before trading any downside aggressively.
Thanks in advance.
If we see breakdown below $4946, is anyone here considering buying puts pointing to the $3800-$3500 area as part of a larger degree decline. It’s a long way down from the $4946 support level, but it’s the region from which this ending diagonal began.
If yes, what strike/DTE?
This market has not been terribly kind to bears, so even though we are seeing some signs that a top *may* have been struck, we need confirmation to be seen (especially in the IWM) before trading any downside aggressively.
Thanks in advance.
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Please explain how spy/spx relate and what you mean by a structure decline down to $194. Is it the "B" reference of your above guess?
This was referring to SPX/SPY, the A and B earlier are TSLA. Not related to SPY/SPX.
SPY/SPX are loosely correlated (SPY is 1/10th SPX I think or thereabouts). Got my numbers mixed up with IWM. Corrected above. Sorry.
thenewguy1979
"The" Dog
Ok guys. Im going to buy some $209 call expired May 17th.
See you all in 9 weeks. If not, dog working at Wendy.
See you all in 9 weeks. If not, dog working at Wendy.
My Sunday Afternoon take is that we hit capitulation last week in TSLA. I anticipate something positive this week. Unfortunately for me, with Daylight Savings Time I don't trust myself making morning trades (3:30-4:30AM my time). I fat fingered something on Friday before I was really fully coherent that will take some time to dig out of.
Random little thing... I still have (somewhere) a Taco Bell Chihuahua from their "Drop the Chalupa" campaign from when I worked at one in the early 90's. If this week is as bad as last week I am going to have to go back to work too...
ChiefRollo
Member
Why May (not a few weeks further out)? I’d flex on strike if it’s price.
thenewguy1979
"The" Dog
That based on Wicked Stock timeframes of 8 weeks but we should see a bounce up there in 2-3 weeks. Going furthur is safer but the cost is higher.
I guess that can be offsets by a spread or going higher OTM. Im planning to wait till Tuesday and see how the SP react to CPI. Safer then jump gun on Monday.
In the meantimes we can sell the 200C during the bounce as well.
Good to see some glimmer of hope out of the dump for now. Just thread carefully else Wendy or Taco bell going be Merry this year with some new faces
SpeedyEddy
Active Member
SpeedyEddy
Active Member
It has to be "significantly lower than the previous bottom" to be a real buy signal for WS. I guess more 165-ish would turn me on buying back the rest.
SpeedyEddy
Active Member
Only on a sudden rate cut I would think of such a move (because something really has broken), for now, maybe a little mid-march drop to 5000 at max before a run-up into elections (coinciding with $TSLA slowly finding its way back up through numerous catalysts unfolding)
Berlin GF4 restarting production later today is being reported, TSLA looking like it would like to push a little higher, but the rest of the M7 lagging
I've slept on my plan to offload my 2200 TSLA shares and like the idea even more. I studied the future values of 2200 shares versus $230k cash and 29x June 2026 +c200's and there's very little difference as the SP rises
So I don't gain any big leverage, but I bolster my cash holding in case of a dump and add +7 contracts to write against
And why 29x -c220's and not 20x? Because I already have 11x June 2026 and 60x Dec 2025, so it rounds-up nicely to 100x, and then the 20x June +c200's cover the Dec -c190's I wrote last week with little, or no, margin requirement
Also have 26x Jan 2025 +c270's which are a bit down the shitter for the moment...
I've slept on my plan to offload my 2200 TSLA shares and like the idea even more. I studied the future values of 2200 shares versus $230k cash and 29x June 2026 +c200's and there's very little difference as the SP rises
So I don't gain any big leverage, but I bolster my cash holding in case of a dump and add +7 contracts to write against
And why 29x -c220's and not 20x? Because I already have 11x June 2026 and 60x Dec 2025, so it rounds-up nicely to 100x, and then the 20x June +c200's cover the Dec -c190's I wrote last week with little, or no, margin requirement
Also have 26x Jan 2025 +c270's which are a bit down the shitter for the moment...
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Does your broker treat +C vs shares the same for margin/writing against?
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