Wiki Selling TSLA Options - Be the House

[Jim Holder]

Looking ahead next two weeks:

7/12

7/19

7/12

7/19

(Spike at $300 )

 

[Max Plaid]

I tried that already when it was trading in the 220's I wrote like 30 x 200 Puts expiring on earnings week. But it just kept going up.


Which is why I'm left scratching my head at how high this stock can go on optimism and call buying alone and how hard it reverses (And whether I should buy puts on the reversal).

Sure, but better to use puts on the way up to help untangle the ITM calls - I took $50k over the last week rolling puts up, ok I lost $300k, but that’s better than $350!!

Indeed, will reverse at some point, so everyone needs ensure downside protection, which I will do with 200x +p150’s, 100x of which will be left unused (for the moment) and 100x are 12 months out. I’m pretty sure I can roll down DITM puts given one year, double the contracts and lots of cash, but SP going up is harder to deal with

 

[jeewee3000]

What’s your X handle?

Since self promotion is frowned upon on TMC, I'll answer this one for him.

@dannyle1022 -> the best $TSLA TA X has to offer

 

[tivoboy]

Seems it’s spot on! Maybe a sign to take profits around there and wait and see.

Indeed it did nail it, and now it’s indicating $207.89 so stay frosty. that could possibly be capturing earnings (30 day window)

OT: I can’t tell if your new avatar is you in front of your laptop, or if you’re in a rowboat?

 

[Max Plaid]

And of course it's my son's baccalaureate graduation ceremony right now, but fortunately he just got his certificate and I get a time window at open before he performs some music

Brought my MacBook Air with me...

Going for the puts at open to catch the IV spike

 

[thenewguy1979]

Indeed it did nail it, and now it’s indicating $207.89 so stay frosty. that could possibly be capturing earnings (30 day window)

OT: I can’t tell if your new avatar is you in front of your laptop, or if you’re in a rowboat?

in a bathub

 

[ProfessorZoom]

And of course it's my son's baccalaureate graduation ceremony right now, but fortunately he just got his certificate and I get a time window at open before he performs some music

Brought my MacBook Air with me...

Going for the puts at open to catch the IV spike

thinkorswim at the graduation is so real

 

[jeewee3000]

in a bathub

lol.

Whenever people get a new profile pic around here it takes days for me to get used to. Probably just me, but that's why I don't change mine, ever.

 

[Max Plaid]

You're welcome!

 

[thenewguy1979]

Ah men. Thanks for @Max Plaid and anyone else who sacrifice this morning. We need this

 

[UncaNed]

Ah men. Thanks for @Max Plaid and anyone else who sacrifice this morning. We need this

What, this MMD??

 

[Yoona]

tsla 7/12

 

[Jim Holder]

Indeed it did nail it, and now it’s indicating $207.89 so stay frosty. that could possibly be capturing earnings (30 day window)

OT: I can’t tell if your new avatar is you in front of your laptop, or if you’re in a rowboat?

Haha! It's me underwater, lol.
And normally behind a laptop.

 

[Jim Holder]

You're welcome!

Got to close some nasty short calls @243!
Thank you!

 

[MrMoo]

Sure, but better to use puts on the way up to help untangle the ITM calls - I took $50k over the last week rolling puts up, ok I lost $300k, but that’s better than $350!!

Indeed, will reverse at some point, so everyone needs ensure downside protection, which I will do with 200x +p150’s, 100x of which will be left unused (for the moment) and 100x are 12 months out. I’m pretty sure I can roll down DITM puts given one year, double the contracts and lots of cash, but SP going up is harder to deal with

Agreed SP going up is much harder to deal with. I actually think we've found a bottom this year. Which is nice to see. Gives confidence in selling puts or rolling puts.

 

[thenewguy1979]

Massive offloading (taking profits) at opening then dip buyers stepping in. Now it's a tug a war.....
Holding onto my +240P for next week. Not entering any new position today.

Let see if it can spike past 254.

 

[Max Plaid]

Agreed SP going up is much harder to deal with. I actually think we've found a bottom this year. Which is nice to see. Gives confidence in selling puts or rolling puts.

Indeed, as long as you can keep your puts out of assignment range they usually go OTM at some point, calls, not necessarily - I have a friend, used to post here sold -c135's against everything early 2023 and that was that, don't think he even got out of them in the last sub-140, problem is that you're always thinking "it's going to go lower", as indeed it should haven but didn't, then it reverses and the moment is gone

 

[thenewguy1979]

Agreed SP going up is much harder to deal with. I actually think we've found a bottom this year. Which is nice to see. Gives confidence in selling puts or rolling puts.

Pardon me what bottom # are we referring to?

Or we referring to the top at $254?

Small head don't have a good memory on numbers

 

[MrMoo]

Pardon me what bottom # are we referring to?

Or we referring to the top at $254?

Small head don't have a good memory on numbers

When we hit 140, had bad earnings and the stock goes up 30% lol.

Indeed, as long as you can keep your puts out of assignment range they usually go OTM at some point, calls, not necessarily - I have a friend, used to post here sold -c135's against everything early 2023 and that was that, don't think he even got out of them in the last sub-140, problem is that you're always thinking "it's going to go lower", as indeed it should haven but didn't, then it reverses and the moment is gone

Yer case in point when we hit 140. I wanted to get back in with shares but I just wanted to see 120. But to be fair the earnings were terrible. I'm still scratching my head on how this thing trades lol.

 

[thenewguy1979]

Dog cash out profits from the week. Left some money in the the +240P for next week.
Done for now.

Phew.....been a wild week.