Wiki Selling TSLA Options - Be the House

[mongo]

, maybe he meant “buy”………

Nah, I meant sell (to raise cash without selling shares)
Though, at this point, buy could also work to regain Delta.

The last time someone suggested I start selling some calls.....the very next week the stock exploded to 1,000 from 900 lol.

Maybe I'll set up a trade to sell a call and hover my finger over the Enter button to get the stock to reverse

Thus my emjoi...
Sold calls on the way up for virtual loss vs holding. Then sold puts on the way down for virtual loss vs staying away.
On the sunny side, the effective price did end up buy low sell high.

 

[CHGolferJim]

Nah, I meant sell (to raise cash without selling shares)
Though, at this point, buy could also work to regain Delta.


Thus my emjoi...
Sold calls on the way up for virtual loss vs holding. Then sold puts on the way down for virtual loss vs staying away.
On the sunny side, the effective price did end up buy low sell high.

“Production is hard.”

 

[mongo]

“Production is hard.”

Hey, my expiries were for '2 weeks'.

 

[M3Rider]

The last time someone suggested I start selling some calls.....the very next week the stock exploded to 1,000 from 900 lol.

Maybe I'll set up a trade to sell a call and hover my finger over the Enter button to get the stock to reverse

Why sell calls before Q4 if the person is a holder? Let them sell long-dated puts on margin they don’t need to manage for a while. They may as well expire worthless. This week is a good time to sell.

2024 $1000 strike puts are $320 a piece.
This is practically no risk for a holder.

$32k per 100 shares, say margin is 50% of their holdings, they sell for half the margin or quarter of their shares.

 

[adiggs]

I've added some additional 600/900 bps as well as some 650/850 bps. Now I'm in with some margin!

I'll be looking for some this-week covered calls tomorrow (looks like today is a definite no). I might even go nuts and add some bcs if the premiums are good enough on a move up. Probably 1100ish covered calls and 1250 or 1300 bcs (which probably aren't worth it, but I haven't looked yet).

 

[BrownOuttaSpec]

Anyone having flash backs to last week? Slight dip and then a flat Monday and then the bomb dropped on Tuesday?
I'm nervous about my 11/19 780/880.

 

[bkp_duke]

Anyone having flash backs to last week? Slight dip and then a flat Monday and then the bomb dropped on Tuesday?
I'm nervous about my 11/19 780/880.

Same, but I still have a 950/1000 BPS that I've been rolling that has me anxious. Even the 875/925's for this week are not looking so grand.

 

[FS_FRA]

STO 11/19 CC -1105 @ $2.50 - took a long time to fill...

I think we're going to trundle around/ down for another week or so at a rate of 1-5% / day. Much like what @st_lopes described above. Feels like the pre "to da moon" phase a couple weeks ago where I'm just simply collecting my weekly premium target with a good nights sleep.

@adiggs - CC's it is. Still don't feel comfortable with BCS.

Edit: as I STO, the SP jumps $15 - you're welcome - looks like Wall Street lunch break is over and someone fat-fingered the sell button

 

[Bunky]

Is there anything significant about this $985 level that we have been bouncing off of?

 

[M3Rider]

Anyone having flash backs to last week? Slight dip and then a flat Monday and then the bomb dropped on Tuesday?
I'm nervous about my 11/19 780/880.

There was no bomb, just reverse gamma squeeze orchestrated by hedge funds trading on Elon’s tweet and buying short-term puts.

Can they do the same this week on no news? Probably, the gamma squeeze on Q3 results was repeated 2 weeks in a row via call buying.

We have a very definitive time frame for when this *sugar* is ending though.

Two weeks. Roll two or 3 weeks forward if worried.

 

[adiggs]

Edit: as I STO, the SP jumps $15 - you're welcome - looks like Wall Street lunch break is over and someone fat-fingered the sell button

Thanks @FS_FRA ! My put spreads are really appreciating your sacrifice

Is there anything significant about this $985 level that we have been bouncing off of?

Nothing that I know of, but I do know that I really want to see a new strong support building. My theory is that $900 will be a strong support as the previous ATH, but I'd like to see something higher. If that's $985 then I'm entirely fine with that. Something so that I have a gauge for when we are relatively low priced and when we're relatively high priced.

I've got $1250 on the high side (new ~ATH) - just need something on the low side.


Who knows - maybe the shares will keep levitating and I'll open some 1100ish cc today!

 

[vikings123]

Thank you and please take your grievance to the main thread.

Getting back on topic given that today is a Monday and option flow is still pretty strong on the call side I think Elon sold or is selling a major chunk today. Not financial advice, just my read. I’m tiering into some LEAPS and closing out the calls I sold previously for 80% profit.

It will be interesting to see how we close today but least path of resistance is UP.

Sorry for quoting my own post but I feel like this aged well . Volume just exploded through the roof....

Edit: Gamma squeeze is back on it seems, I must say the run did not start with gamma squeeze. It was definitely a big whale who started buying and then the options started hitting the tape.

 

[adiggs]

The current share price action reinforces my new focus on selling into strength. When I sold some additional puts this morning I didn't know that $1080 was going to be roughly the low point, at least so far today. I also don't know that it'll be the low point this week - I can make an easy case that we'll be down more tomorrow.

But by selling at 1080 rather than 1100 that position is ahead 1/3rd almost immediately, and is that much better off should the shares keep going down.


I also haven't sold cc's into strength as I'm looking for an upward move. Had I sold those cc's when we were at 980 then I'd be behind by that much almost immediately. Sometimes 'strength' actually looks like weakness - it's just that I believe its the best available price.

As an example if this ~$1000 share price is something I believe will be the high point for the rest of the week, then this is the time to sell those cc's, even though the shares are down $30 at this point. It's the 'strongest' price that I think we'll see this week. To be completely clear - this is an example and not what I think will actually happen or what I am acting on.


Here's hoping for a $1030 (flat) close for the day!

EDIT: This post isn't aging well. It only took the writing time to be up $25 . I know - that means I should post more and longer!!!

 

[mickificki]

Anyone know the likelihood that Elon’s done selling in the open market?

https://twitter.com/x/status/1460346262834888715

 

[MindOverMatcha]

Phew, was just sending emails when I chanced upon that spike. Took advantage and rolled some ITM BPS for a debit, 11/19 to 11/26 and 12/3. Still have another 11/19 ITM BPS and will look to roll it up on the next opportunity this week. I'm already so close to max loss anyway, that all I have is to hold out.

 

[AquaY]

Thanks @FS_FRA ! My put spreads are really appreciating your sacrifice


Nothing that I know of, but I do know that I really want to see a new strong support building. My theory is that $900 will be a strong support as the previous ATH, but I'd like to see something higher. If that's $985 then I'm entirely fine with that. Something so that I have a gauge for when we are relatively low priced and when we're relatively high priced.

I've got $1250 on the high side (new ~ATH) - just need something on the low side.


Who knows - maybe the shares will keep levitating and I'll open some 1100ish cc today!

900 is a strong support level. According to the trading the charts guy. Not just me

 

[MindOverMatcha]

Anyone know the likelihood that Elon’s done selling in the open market?

https://twitter.com/x/status/1460346262834888715

Might be related to Biden signing the Infrastructure bill into law. Saw a spike in the indices too.

 

[AquaY]

Might be related to Biden signing the Infrastructure bill into law. Saw a spike in the indices too.

That really should be irrelevant. The market knows he would sign it as soon as he could

 

[JustMe]

Profitable day trading 11/19 $1,000p, $1,000c, and 800/700 bps on the waves. I sold the 10x $1,000 C I had bought at the start of the huge run up missing out on huge gains, but a win is a win. Everything closed out by EOD, except an 11/19 $1,175 cc

I spent a lot of time today telling myself “don’t be stupid!” I think it helped

 

[Yoona]

View attachment 733207
Well, it sure looks like some big options sellers have set the mark: Is that a combination of @Yoona @Chenkers @Lycanthrope and @BornToFly ? In any case, sell ICs on the other side of 900/950-1050/1100.

bad news: last month all my retirement acct stocks were called away due to dumb/st*pid aggressive CC (ie too expensive DITM to buy back)

good news: today at the dip i have been reunited with them all (group hugs all around)