Wiki Selling TSLA Options - Be the House

[vikings123]

Just sharing some TA from someone who is really good with TSLA analysis :

“TSLA needs to reclaim the 5 day moving average(748 ish) and that could lead to more upside. The typical pattern for a reclaim is it gets rejected the first time. I think the 5 day will be key for tomorrow.”

If it reclaims the 5 day my plan is to sell some calls around the 760 area which acted as resistance last week. Also to the downside I see 730 as support so will look to sell puts there.

 

[AquaY]

Today i sold BPS +600/-675 Sep 17 for $2.05 Credit

 

[buttershrimp]

Can you tell us more? Their page doesn't talk about how new trades get imported, and is my personal first and primary need for the tool. Anything that needs manual entry is out the door - that's what I'm trying to get away from.

Somewhere fairly far down the page, it sort of sounds like one can use this software to enter and close trades as well - not just track them. Or maybe it gets open positions when you load trades, and the software can get updated information live from the market?


I'm pretty sure that this is one of the ones that I found, and the front page information presented didn't answer the questions for the needs that I have. But I've also said that I have no other meaningful point of comparison - if there's a significant improvement over what I have, then I'm ready! I particularly like the idea of getting historical data. Wingman will only load current positions at the start of time and then record transactions from there. I understand why they have the limitation, but it's a limitation I'd like not to have.

I’d encourage you to do trial… price is right…. And I found wingman requires a lot of cleaning up anyway, is expensive and doesn’t categorize strategies well. The Manual recommendation on option tracker seems to be more related to greeks, but I am hoping that it will tolerate daily uploads…. So far it seems very possible. The analysis section on option tracker is really superior …. Will tell you about your habits and let you set goals that you can track

 

[AquaY]

I’d encourage you to do trial… price is right…. And I found wingman requires a lot of cleaning up anyway, is expensive and doesn’t categorize strategies well. The Manual recommendation on option tracker seems to be more related to greeks, but I am hoping that it will tolerate daily uploads…. So far it seems very possible. The analysis section on option tracker is really superior …. Will tell you about your habits and let you set goals that you can track

90 day free trial seems like a good amount of time

 

[TheTalkingMule]

I really need to follow this thread more carefully and pick my spots with more intention.

Last Friday I was thinking this week looked primed for a MM pushdown, then when it happened late Friday I jumped too early and bought a bunch of 770/780 calls. Even knowing there was still a 50/50 shot of today's shenanigans happening.

Well I bought the dip at 740/750 today and 2x'd a few calls to put me slightly in the green overall. But I wish I would exercise more restraint. The whole plan was to buy calls when I absolutely know it's a momentary dip. Friday was just an emotional reaction and I even knew I'd "probably have to double down Monday".

Could've made an absolute killing today with BPS and simply buying/selling calls. I got impatient and forgot I don't have to do anything.

I think we're getting near a point I'm ready to sell some CCs, but I can easily see us creeping up toward 800 this week. People are gonna start elbowing their way into TSLA ahead of 3Q deliveries and this massive swim in PE ratio that's in the mail.

Back to sitting on my hands having screwed the pooch on the most recent round of shenanigans.

 

[ReddyLeaf]

I really need to follow this thread more carefully and pick my spots with more intention.

Last Friday I was thinking this week looked primed for a MM pushdown, then when it happened late Friday I jumped too early and bought a bunch of 770/780 calls. Even knowing there was still a 50/50 shot of today's shenanigans happening.

Well I bought the dip at 740/750 today and 2x'd a few calls to put me slightly in the green overall. But I wish I would exercise more restraint. The whole plan was to buy calls when I absolutely know it's a momentary dip. Friday was just an emotional reaction and I even knew I'd "probably have to double down Monday".

Could've made an absolute killing today with BPS and simply buying/selling calls. I got impatient and forgot I don't have to do anything.

I think we're getting near a point I'm ready to sell some CCs, but I can easily see us creeping up toward 800 this week. People are gonna start elbowing their way into TSLA ahead of 3Q deliveries and this massive swim in PE ratio that's in the mail.

Back to sitting on my hands having screwed the pooch on the most recent round of shenanigans.

Ditto

 

[stealthyc]

I really need to follow this thread more carefully and pick my spots with more intention.

Last Friday I was thinking this week looked primed for a MM pushdown, then when it happened late Friday I jumped too early and bought a bunch of 770/780 calls. Even knowing there was still a 50/50 shot of today's shenanigans happening.

Well I bought the dip at 740/750 today and 2x'd a few calls to put me slightly in the green overall. But I wish I would exercise more restraint. The whole plan was to buy calls when I absolutely know it's a momentary dip. Friday was just an emotional reaction and I even knew I'd "probably have to double down Monday".

Could've made an absolute killing today with BPS and simply buying/selling calls. I got impatient and forgot I don't have to do anything.

I think we're getting near a point I'm ready to sell some CCs, but I can easily see us creeping up toward 800 this week. People are gonna start elbowing their way into TSLA ahead of 3Q deliveries and this massive swim in PE ratio that's in the mail.

Back to sitting on my hands having screwed the pooch on the most recent round of shenanigans.

Stop buying calls, it’s much harder

 

[jeewee3000]

Stop buying calls, it’s much harder

Yeah, got screwed yesterday with calls bought last friday. It worked the few weeks before though. Should've just opened a BPS.

 

[FS_FRA]

Looking to get into the Jan24 500's to then sell lcc's against. Of course depending on the pricing.

I do like the long time to expiry simply giving me a long time to sell calls against them. At the same time, I expect the 500s to appreciate significantly over time, assuming all or most of the future projections of SP materialize.

Other than being clear on the fact that this locks in margin for a very long time, and the need to manage risk against a lcc not expiring, what am I missing?

 

[Criscmt]

(cough)
where. is. it. again.

Once you find 'em, do you mind PM'ing me those? , assuming PM is the way

 

[vikings123]

I don't understand why this stuff isn't with the brokers - my broker can't even give me a statement of realised gains for the year, have to calculate all that myself

IBKR has decent activity statements that you can play around with to analyze realized and unrealized gains and with separate sections for common stock and options. Thought you were with IBKR?

 

[vikings123]

Stop buying calls, it’s much harder

The key to buying calls is to wait for those flash crashes. Never buy them when the stock is on an uptrend. I bought 5X 700 Sep 17 calls on the morning dip, almost got the low of the day .

 

[stealthyc]

The key to buying calls is to wait for those flash crashes. Never buy them when the stock is on an uptrend. I bought 5X 700 Sep 17 calls on the morning dip, almost got the low of the day .

Oh I agree, I bought some Oct 8 $720c at the dip as well.

I just notice @TheTalkingMule trying really hard to time the market with calls regularly, which in my opinion is something only to be done very judiciously and opportunistically as gravy on top of the regular gains of selling options.

 

[mongo]

Volume is not open interest. Trading existing options around boosts volume without changing OI.
If all the 700 activity was closing positions, it would have dropped from 44k to 35k.
The 740 and 750 volume could boost those OI. Like @Discoducky said, we'll know at 7am EST tomorrow.

Follow up:
Max pain still at 700, 45k calls 81k puts at that SP (highest C snd Ps)
740: 14k
750: 30k
770: 16k
Stock Option Max Pain

 

[phantasms]

Yes just comparing yesterday's to today's.

700 and 800 calls stayed about the same but the 750s and 780s each grew by about 25%. I'm guessing we land high 730s unless the next two days get nutty.

 

[Yoona]

As of this morning's chain, assuming sp swings -10% or +10% from today to Fri, 668-816 is a good range for IC. For the brave, one standard deviation from the current sp is 711-773.
My IC is combination of both + gut feel of maxpain walls: 675-760.

 

[FS_FRA]

Here's the Jan24 500s pricing: $333.55 x $352.45 ... hmmm....spread's a bit high.

 

[phantasms]

I hate rooting for the bad guys in moments like this.

 

[TheTalkingMule]

Stop buying calls, it’s much harder

Yeah I'm transitioning to purely selling, just not quite comfortable with BPS yet. Taking the easy money rather than gambling for a 4x or 8x is so obviously the way to go.

 

[CHGolferJim]

Here's the Jan24 500s pricing: $333.55 x $352.45 ... hmmm....spread's a bit high.

Use limit orders?