I got to close most of my CC's from the Hertz fiasco and I only have 5 left 1180-1190's for the 23rd.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
I'm excited for the last 3 weeks of the year. I'm getting more confident that SP 1000 holds each week (and we will probably slowly climb over 1100).
I have lots of 700/1000 for 12/17 that I will roll to 12/23 soon.
I have lots of 750/950 for 12/17 I may roll up to 700/1000 for 12/23.
Also have many 750/950 for 12/23 already that I will probably sit on for 7-10 days.
I also have 10 naked -1200 I sold before the drop that I will either close when I back to even to free up margin, or just keep rolling ITM (haven't decided).
I have lots of 700/1000 for 12/17 that I will roll to 12/23 soon.
I have lots of 750/950 for 12/17 I may roll up to 700/1000 for 12/23.
Also have many 750/950 for 12/23 already that I will probably sit on for 7-10 days.
I also have 10 naked -1200 I sold before the drop that I will either close when I back to even to free up margin, or just keep rolling ITM (haven't decided).
Tes La Ferrari
Active Member
This is an interesting topic, and would appreciate you sending me the PM also.
Thanks in advance, @st_lopes !
TheTalkingMule
Distributed Energy Enthusiast
Not that anything's really changed, I just need reminding after the mega pushdowns we've seen recently.....
It's a great time to be selling TSLA options, and will continue at least a couple more weeks. Elon selling is capping advances as MM's get plenty of extra float each week. Small news events and looming blowout 4Q earnings are setting a reliable(if slightly and temporarily mobile) floor.
I was chastising myself for selling so many 12/17 $940/840p BPS earlier this week, that's not what I set out to do. The plan was to stay 22-27% below SP and harvest easy money. But this is one of those rare times it's ok to get more aggressive on both ends, certainly on the put side. Volatility is wild AND there's a strong magnetism to $1100ish. What could be better for weekly premiums?
All we need to look out for IMO is when the market decides Elon is done selling and acquisition of bulk shares becomes a priority ahead of 4Q earnings. Literally anything is possible to the upside, let ye be warned.
I had some 750/1050s for Friday expiration that I rolled on Monday to 3 different positions (800/1000, 735/1035, 750/1050) for next Friday. The roll realized some quite large losses - on the order of $40/share - while also producing credits.
The new positions have developed nicely and earned back most of that loss. Close enough to leave the overall month positive and though I do believe we're going to see a strong move up really soon now, I also started asking myself if the current position is consistent with my income objective. I know from previous experience that when I ask that question, the answer is in the question - it's never a Yes
Decided to close 'em all up and look for that big move up on Monday in which I will learn that I was right (about the move up) and which I will largely not participate. Just in case we have another big down day (Elon selling, the tweet about getting away from running companies, macro, random TSLA noise) then I'm also not going to be bigly upside down again.
When we do get that big move up then I've got Jan and Feb '22 900s that I'll be selling aggressive CC with. I'll want these to get assigned, and/or to collect some big premiums. I've intentionally taken some pretty close expirations in retirement accounts looking to play with higher leverage than normal for me going into the variety of big news items coming up.
The new positions have developed nicely and earned back most of that loss. Close enough to leave the overall month positive and though I do believe we're going to see a strong move up really soon now, I also started asking myself if the current position is consistent with my income objective. I know from previous experience that when I ask that question, the answer is in the question - it's never a Yes
Decided to close 'em all up and look for that big move up on Monday in which I will learn that I was right (about the move up) and which I will largely not participate. Just in case we have another big down day (Elon selling, the tweet about getting away from running companies, macro, random TSLA noise) then I'm also not going to be bigly upside down again.
When we do get that big move up then I've got Jan and Feb '22 900s that I'll be selling aggressive CC with. I'll want these to get assigned, and/or to collect some big premiums. I've intentionally taken some pretty close expirations in retirement accounts looking to play with higher leverage than normal for me going into the variety of big news items coming up.
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TheTalkingMule
Distributed Energy Enthusiast
I just took a minute to review my transaction from Friday and had one more BPS than I thought. A 12/17 $890/$790p order executed in the morning >$6 and now looks like I could've closed for about $1.80 toward the end of the day. Madness!
Pretty sure we pop higher at the open Monday, but if not I missed a real opportunity since my ability to sell BPS in my IRA is limited by the cash on hand. When you can make 60% or more intraday, IMO you take it!
Gonna take me a while to get a feel for when IV plummets across the various expirations. For now......I got this thread to tell me with a 5 minute delay. Thanks all!
to celebrate my winnings (thank you very much for the predictable 10am dips, market manipulators), i spent the day wrapping up holiday gifts
for people that i care about - Mac, MacBook, iPhone, diecast cars and assorted stuff from the Tesla store, cash envelopes, vacuum cleaners, appliances, frozen steaks and ribs, etc etc etc
i challenge everyone here to please do better than me... withdraw some of your good BPS fortunes and spread around some cheers this season... it's not too late and there is no excuse for not sharing!
you have no money, you insist? STO 12/17 BPS x1 -p900/+p800 is $200 credit for a nice gift card, no?
for people that i care about - Mac, MacBook, iPhone, diecast cars and assorted stuff from the Tesla store, cash envelopes, vacuum cleaners, appliances, frozen steaks and ribs, etc etc etci challenge everyone here to please do better than me... withdraw some of your good BPS fortunes and spread around some cheers this season... it's not too late and there is no excuse for not sharing!
you have no money, you insist? STO 12/17 BPS x1 -p900/+p800 is $200 credit for a nice gift card, no?
AquaY
Member
AquaY
Member
while they expire on Saturday you have until 1 1/2 hours after market closes to inform your broker to exercise or not.
Seems like many people expecting a big move up. I am not. As far as I can tell it could go either way from here over the short term. One potential headwind could be Elon Musk completing his share sales by the end of the year, which is a topic of some speculation. Yes there are great positive catalysts too - but how often have such catalysts failed to materialize in share price explosions?
I closed out my bps positions at the end of trading yesterday, taking profits from the IV drop. I plan to open new positions Monday after seeing which direction we are headed.
Peace
I closed out my bps positions at the end of trading yesterday, taking profits from the IV drop. I plan to open new positions Monday after seeing which direction we are headed.
Peace
chiller
Member
Oh, my positions were 880/790, not 880/970. Got the numbers in reverse.
I'm surprised at how little talk I've seen about Elon's tweet about maybe quitting his jobs - being an influencer full time. I don't really expect anything to actually happen along those lines, but I'd have thought even the comment would be showing up a lot more in the media at the very least. It did play a small role in my decision to get out of the ATM BPS I had open towards the end of the day.
I'd like to see what happens Monday morning from the sidelines - I can jump in with new BPS if we are flat to down to start the day.
I'd like to see what happens Monday morning from the sidelines - I can jump in with new BPS if we are flat to down to start the day.
I think it’s just Elon trolling the Twitterverse. Reuters fell for it first.
He’s been tweeting weird *sugar* for days - in between some stuff that is interesting.
Has no impact on my immediate decision making.
bkp_duke
Well-Known Member
IIRC there was a follow up tweet where he said "just kidding" or something like that.
I tend to like Fareed, but feel his data and conclusions on this topic are flawed. Just sucks to see things like this presented as factual as opposed to heavily biased FUD.
Subsidies are way higher for oil and gas: Fossil Fuels Received $5.9 Trillion In Subsidies in 2020, Report Finds
CNN: Fareed Zakaria calls out Elon Musk's comments on US spending.
www.cnn.com
Subsidies are way higher for oil and gas: Fossil Fuels Received $5.9 Trillion In Subsidies in 2020, Report Finds
CNN: Fareed Zakaria calls out Elon Musk's comments on US spending.
Fareed Zakaria calls out Elon Musk's comments on US spending | CNN Business
Fareed Zakaria discusses Elon Musk's recent comments about Biden's spending plan during a Wall Street Journal interview. The bill includes up to a $12,500 tax credit for electric vehicles and subsidies for electric vehicle charging stations.
www.cnn.com
Whitney Tilson...aka, captain obvious.
Don't waste your time for the punch line....which is... FSD changes everything.
TSLA HODL
Don't waste your time for the punch line....which is... FSD changes everything.
TSLA HODL
EDIT: Sorry y'all, meant for these last 3 posts to go in the main thread...
And now I'm going driving!
And now I'm going driving!
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The 2 next weeks will be crazy at work. My turn to take calls for a full week straight. Hope I won’t have to manage losing positions. The only Christmas gift I asked in my Santa Claus letter I sneaked in the same enveloppe as my kids is a SP above 975.
Looks like NASDAQ futures are positive..
Up 55 so far. Hopefully this will bode well for a manic Monday..
Up 55 so far. Hopefully this will bode well for a manic Monday..
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