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Wiki Selling TSLA Options - Be the House

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From TimeTraveler:

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... I opened an IC against MSTR for 4.35 ...

This worked out beautifully. I'd opened the IC at .04 delta , on sold legs, 100 wide small number if contracts, 3 days before. Will do the same homework next week for this or one of the two other decent tickers... follow PA, IV, gamma, OI, and vanna Monday for a possible position 2dte Tuesday or even Wednesday if uncertain; measure twice , cut once :). Thanks @Yoona for harping on being safe!

Nice weekend all !
 
@Yoona , was wondering do you strictly follow the 7 delta layering strategy and how does that interplay with the Gamma/Vanna charts? Wouldn't the charts be extra noises or do you have a hidden Long strategy hidden somewhere ;)
nvda/smci max 2-3 dte; everyone else 7dte is probably ok

always have a strategy with clear entry/exit plan

the strategy shouldn't depend on a single TA (ie gamma only or EW only); you need multiple TAs to "confirm each other"

for ex, i know i want to IC SMCI 6Δ. After that, i want it to be behind 3 walls - gamma/vanna/OI and minimum 1σ. Sometimes it's that simple. That might bring me down to 4Δ. Prems are still rich, anyway. So be it, but i have 5 TA supporting me. If sp moves up to 16Δ or it's creeping to my walls and it looks like macros market-wide and there's 2 days to go, the plan is exit or roll early even though i still have lots of extrinsic (ie super chicken move).

sometimes, the strategy is to don't do anything. Don't just click and do something because you're itching. For ex, i want to buy NVDA coz rumours (that's how Canadians spell it!) of stock split. But then NVDA has a bearish shooting star and a hanging man. Both are candlestick reversal patterns. Conclusion: stay away for now.
 
I'm going to have to roll 200X July 19 +240/-260P. The cost of rolling will reduce my margin available, unless I sell aggressive CCs to pay for it. I'm debating selling 200X CC for April 5 175 strike. Obviously I would be counting on P&D numbers keeping the SP in check, and praying that "the topic that can't be discussed here" doesn't cause it to run away in the next two weeks. 🤔
 
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Reactions: adiggs
$TSLA first chart has good aggressive buyers delta remained close to 50% which is very good.

People think this is the BOTTOM



Next week $180 MM would close it $175 by EOW but price will march to $175-$185 range. They have tons of OI > 180C not much vol yet.


Dear Mods: Twitter/X links stoped unfolding today on TMC (just shows link), was there any SW changes that can be fixed/reverted for this function?
 
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