Yeah, I appologize for the kinda OT post, honestly I knew it wasn't the exactly right thread, but figured I could get more points of view and better advice in an active discussion of experienced options trader like this one.
@Right_Said_Fred
I know it's rather a gamble and it's money I'm okay with losing (I'd rather lose it than kick myself for not trying for what I belive in and missing on a good oportunity) - I've read a lot about the possible squeeze and think it's a real possibility fot TSLA to go even beyond $3000 in short term upon S&P inslusion.
@vikings123
SO yeah, I also admit there is FOMO (regarding the options, since I've been holding the stock for a while now, but didn't realize soon enough that it would take "such time" to get ready for options trading). But I'm rather looking for deep OTM call like the one in example with far enough expiration as a buffer and an expectation to make money on the call even without it getting ITM (but with a slight hope to make some extra if it gets ITM) rather than a weekly lotto.
And
@juanmedina LEAPs are something I'm also planning on, though later once there is some sort of a dip and I've had enough time to rebalance.
So sorry once again for the OT (end of conversation on my part) and thank you for your opinions (can't and "not advice"
My primary addition to the other information provided by others is to check out the education videos at
Free Beginner Options Trading Course from Option Alpha.
This is the first of 3 tracks or collections of videos that jointly constitute basic education on options. Each track was about 10 hours for me to go through (1.25x playback speed worked really well) and, IMHO, constitutes about the minimum level of education I would consider for any options trading (buying or selling options). It's not the end of your learning and education - it's just some basics to get started and have an idea of what you're looking at (such as the dynamics going on in premium changes on an option).
Some important caveats / things to know about this resource:
1) it's free. And related, my own experience as well as every 3rd party review I have read arrived at the same conclusion - this is fantastic education on options. This isn't the end of your education in options - it's just the start, but for me at least, these were the basics that got me started actually selling options which was when the real education (experience) began.
For this thread, I consider this to be the minimum knowledge level possessed by everybody participating in the thread.
2) The site is teaching a specific option strategy (selling volatility), thus it has a focus on selling options and that strategy. The specific option strategy isn't one that I'm making use of (or that this thread is focused on), so there's a certain degree of filtering you'll need to do. Many of the trades we do are also used within that other strategy though. Thus it's still all applicable. You might need to do some filtering to account for that other, related strategy, but I didn't find that onerous. There are some paid services on the site specific to their option strategy - I don't make use of any of those.
3) The three tracks - I think of them as:
Beginner = basics of options (put, call, selling vs. buying, time decay, greeks, ...)
Intermediate = getting into a trade
Advanced = getting out of a trade
Again the focus in the education is on their option strategy, but I found all of the education valuable for pursuing this different option strategy we're focused on here in this thread.
EDIT: And welcome! I hope you find all of this valuable.
EDIT 2: And I agree with the others on buying v selling options. You can lose money either way, but I'm doing a lot better selling options than I have buying options. You'll learn about why in that training