ChiefRollo
Member
You live the life, Sir Max.
-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
thenewguy1979
"The" Dog
For what it's worth. Long Puts are getting cheaper.
Below spread more ITM but gain are cap. 1:10 loss win ratio.
Below spread more ITM but gain are cap. 1:10 loss win ratio.
That's ridiculously inexpensive. Imagine that my MXPlaid was €165k retail price when delivered (~$180k), but I paid €136k as I ordered 18 months prior...
I could have gotten two for one.
I sent my 2nd Tesla in a Turo fleet managed by a local guy during my Road trip to Montana next month. Turo takes 25%, fleet manager takes 32.5%. I get my damaged car more damaged. Everybody is happy.
When Robotaxi will be a thing, my Tesla will have 300 000 miles on Turo.
ChiefRollo
Member
bmd00
Member
We may be entering the 5th wave, as seen best on the 30-minute chart. Possibly sub-wave 3 of the 5th wave.
The 30-minute chart seems to be the most obvious depiction of the triangle. You have 5 waves within the triangle and after the 5th it broke out and is "thrusting" upward completing 5 subwaves. This is the textbook Elliott Wave Theory. So unless I'm reading this all wrong this has to be a B wave because it's impossible to be a 4th wave. If this is true then this rally is just a part of a larger corrective pattern that has yet to complete and will likely drag on for some time.
If we can pass 200 I would think 202 would get sticky. 200.11 is the 38.2% fib retracement from the July 19th, 2023 high. 202.6 is the close of the gap made on Mar 4th. 201.97 is the 50% fib retracement from the last wave down and just so happens to lay at the top of this channel. We haven't seen any divergence yet on the higher time frames (30min & 1hr) which is normal before the 5th wave. But now, if we are entering the 5th sub-wave, we should start to see some RSI divergence on the 30-minute and 1-hour chart near these key levels.
The 30-minute chart seems to be the most obvious depiction of the triangle. You have 5 waves within the triangle and after the 5th it broke out and is "thrusting" upward completing 5 subwaves. This is the textbook Elliott Wave Theory. So unless I'm reading this all wrong this has to be a B wave because it's impossible to be a 4th wave. If this is true then this rally is just a part of a larger corrective pattern that has yet to complete and will likely drag on for some time.
If we can pass 200 I would think 202 would get sticky. 200.11 is the 38.2% fib retracement from the July 19th, 2023 high. 202.6 is the close of the gap made on Mar 4th. 201.97 is the 50% fib retracement from the last wave down and just so happens to lay at the top of this channel. We haven't seen any divergence yet on the higher time frames (30min & 1hr) which is normal before the 5th wave. But now, if we are entering the 5th sub-wave, we should start to see some RSI divergence on the 30-minute and 1-hour chart near these key levels.
Thanks for updating us.
So in essence eyes on 200-202 for a possible stall and get ready to cut longs/long calls in anticipation for rotation back down (how far?). Get back in if $202+ holds and it keeps moving up.
If it gets past 202, what would be next range to watch?
The stock is now $2 higher than when I called the top yesterday. I dont think that takes 188 off the table. once again Im holding long puts instead of selling calls because the risk is defined.$188 now off the table?
Last edited:
one thing throwing a wrench in this triangle pattern is the run from 177 to 188.5. I cant count it as ABC, only as 12345, and triangle is a 3-3-3-3-3 pattern. so, the shape is a triangle but the sub-structure is contradictory.
I dont know I only know where it will likely end up after blowing off. The blowing off part is always exciting as everybody gets sucked in but Ive seen this movie a hundred times.
Well, when we dropped below 195 I thought my 205 and 207.5CCs for tomorrow were safe. Now I'm not so sure. The question will be what rolls to do if we pass 205. I could roll to Jan 2025 and pick a strike that gives me $7 credit, and then see if I can buy to close without a loss on a post P&D dip (if we get one). The other option is just roll out even credit a week and hope for a dip, but I don't want to lose the shares (taxes would be brutal) and I need about 0.3/week of income going forward, so I don't want to get trapped too far ITM if we actually get a rally after P&D.
Surely you’ll get a chance to buy to close them tomorrow? Take a loss (if you have to) if you really can’t afford to lose the shares. Close out a few at a time on dips.
The question is why keep NTM options out there with one day left if you really don’t want them exercised. No matter how safe they may have looked, we all know that anything can happen with this stock. At the end of the day, it’s just not worth the stress and anxiety regardless of whether the trade works out in your favor or not.
Meh, -2.5% cash loss this week... annoying... had to roll everything yesterday as will be busy today... and the roll recuperated the cash+2% extra, so we'll see
Plan A, if the SP doesn't pull-back is to sell puts and buy back the -c187.50's. Plan B is to roll the calls out to Jun 2026 -190 straddles, or similar
Plan A, if the SP doesn't pull-back is to sell puts and buy back the -c187.50's. Plan B is to roll the calls out to Jun 2026 -190 straddles, or similar
We haven't closed above 202.5 since Jan 24th, and stochastic hasn't spiked like this without a Red candle in over 9 months. So I'm playing the chart.
Similar threads
