Wiki Selling TSLA Options - Be the House

[BrownOuttaSpec]

What if we together do "algorithmic trading". I have the expertise & knowledge to write software for this. Every major broker with their client-software offers plugins or similar to interface (and even do trades!) via external programs. To be on the safe side legally i devised this plan:

Anyone interested in such a plan?

I like the idea, plus I think it will be easier to try it after the split because the SP will be lower. So someone could try the trades with just 1 contract and be at a potential 1/3 max loss of what it would be today. It would heavily depend on our active members of this thread though.

 

[JustMe]

Has the bleed into the close started?

I don’t get that sense. Feels like there’s a lot of buoyancy in the stock right now.

 

[ReddyLeaf]

Has the bleed into the close started?

I’m expecting it. Closed my -p695s for $2.85 (STO $20.20 Wed, so 85% profit). Waiting until tomorrow or today’s slide to close/roll the other side of the straddle (-c705s). Unless we drop back to 690 MaxPain, I’ll probably go out to 7/22 -c755/-p700.

Edit: Those puts were initially 700s (7/1 STO $42, 7/6 BTC $20, so cleared nearly $40). Wow, why am I bothering with CCs? Oh ya, now I remember, those DITM Jan/Sept -p1000s.

 

[ninpb]

Sensing upward momentum at the open I did this quick trade

2x 660/600 $2.12 -> $1.15
2x. “ $2.44 -> $1.15
2x. “ $2.54 -> $1.15
2x. “ $2.69 -> $1.15

Opened between 8:30 - 8:33, closed at 8:39

Met my profit goal for the day in under 10 minutes

Can you expand on what/how you sensed this?

 

[Knightshade]

Upper resistance level today is around 727. That should hold today....

...or not

 

[WattsHappening]

...or not

I was going to say the same thing but didn't want to jinx it.

Yes, I am mentally and emotionally that weak...

 

[WattsHappening]

I have to fess up.

After sitting on my hands for several weeks, I got impatient and sold a couple 7/15 $750 CCs on Tuesday. I couldn't be more happy to see paper losses on this trade and to have to roll these next week.

 

[BornToFly]

Right now I could even roll my 780 for Friday to 870 next week....

 

[Knightshade]

I was going to say the same thing but didn't want to jinx it.

Yes, I am mentally and emotionally that weak...

Hey I'd been hoping he was right too.... now I actually need to start worrying bout those 750 ccs for tomorrow

 

[samppa]

Finally my -p725 went otm.
And the straddles calls -c725 went itm.
Should I close puts today and roll calls to next week, or wait until tomorrow?

Such a good problem to have for a change

 

[intelligator]

From yesterdays close through mid today, open interest at 750 spiked, followed by 720, 730, 740. 700 has trimmed some. Sitting tight today, may roll tomorrow the 7/8 -730C to next week for a small strike improvement and snag $10+ of credit.

.

 

[ZsoZso]

The 700 resistance that was held the previous days have broken quickly and thoroughly right after open, then the rally got paused near 725 (next call spike on the max pain chart) and that resistance held from 10am for about 2 hours, then broke.
Does this mean, the recovery steam-roller is warming up and MMs can no longer hold it back ?
Are we at the start of a sustained rise back into the 4 digit realm ?

 

[WattsHappening]

The 700 resistance that was held the previous days have broken quickly and thoroughly right after open, then the rally got paused near 725 (next call spike on the max pain chart) and that resistance held from 10am for about 2 hours, then broke.
Does this mean, the recovery steam-roller is warming up and MMs can no longer hold it back ?
Are we at the start of a sustained rise back into the 4 digit realm ?

If there was ever a time in need of a 'fingers crossed' or 'knock on wood' reaction emoji, this is it.

 

[corduroy]

I can't see us getting above $730 today, but I'm frequently wrong on the call side.

Confirmed, never follow me on calls.

 

[elasalle]

Right now I could even roll my 780 for Friday to 870 next week....

11K call wall at 750 and max pain itself is 685.
8&1/2 hrs of trading to go.

I have some 770 CC's sold towards close yesterday ... sitting tight till $755 atleast ..
easy to manage and roll if required

 

[Drezil]

The 700 resistance that was held the previous days have broken quickly and thoroughly right after open, then the rally got paused near 725 (next call spike on the max pain chart) and that resistance held from 10am for about 2 hours, then broke.
Does this mean, the recovery steam-roller is warming up and MMs can no longer hold it back ?
Are we at the start of a sustained rise back into the 4 digit realm ?

i think, that we get a red day tomorrow and land at 695

 

[dc_h]

Rolling out CC's to next week. Focusing on minor credits and maxing the strike price. Expecting I'll need to roll again. Would be happy if I can keep rolling up all year. Need to look out for rapid spikes, which got me last year with the Hertz fiasco.
725 to 765
730 to 775
740 to 800
750 to 820 with 7/22 expiration

@Yoona, what is the graphing tool you use? I need to get better spotting trends.

 

[Yoona]

Rolling out CC's to next week. Focusing on minor credits and maxing the strike price. Expecting I'll need to roll again. Would be happy if I can keep rolling up all year. Need to look out for rapid spikes, which got me last year with the Hertz fiasco.
725 to 765
730 to 775
740 to 800
750 to 820 with 7/22 expiration

@Yoona, what is the graphing tool you use? I need to get better spotting trends.

TD thinkorswim

watching algos following the fibonacci res/supp lines

sp can't decide on 734; i think long red candle drop means not enough 734 buyers at that time

50sma just came to the rescue to stop the drop

 

[Drezil]

Rolling out CC's to next week. Focusing on minor credits and maxing the strike price. Expecting I'll need to roll again. Would be happy if I can keep rolling up all year. Need to look out for rapid spikes, which got me last year with the Hertz fiasco.
725 to 765
730 to 775
740 to 800
750 to 820 with 7/22 expiration

@Yoona, what is the graphing tool you use? I need to get better spotting trends.

i decided exactly against that. Even with the on -710c i have,

today we had a "perfect storm". Strong macros, massive call-buying, totally in the "gamma-squeezy"-range for tomorrows expiry..
You could see how MM tried to "hold the lid" on it yesterday and today. All the pressures above means that they could only "soften the raise", but will be back with a vengance tomorrow.
Also this feels a bit bull-trappy...

Look at the rest of the industry:
TSLA: +5.6%

old auto:
GM: +4.6%
F: +5.5%
VOW: +6.2%
BMW: +5%
MBG: +6.3%

new auto:
NIO: +9%
BYDDY: +5.3%
XPEV: +6.6%
LCID: + 8.3%
RIVN: +6.8%
NKLA: + 4.8%
SEV: +5.1%
FSR: +4%

we are completely in the middle of the pack. This has NOTHING to do with TSLA-specfics. If tomorrow some manufacturers talk about how hard things are, China coughs a little and lockdowns, powell sneezes at the market or anything .. this can all be erased FAST.

All this - even when oil is up 5% and over 100 again, 10 year trasury yield broke 3% again (up from 2.8x 2 days ago) and other things that were used as arguments why "a recession is coming!!1"..

It just FEELS wrong to be up 5% on that

 

[jeewee3000]

i decided exactly against that. Even with the on -710c i have,

today we had a "perfect storm". Strong macros, massive call-buying, totally in the "gamma-squeezy"-range for tomorrows expiry..
You could see how MM tried to "hold the lid" on it yesterday and today. All the pressures above means that they could only "soften the raise", but will be back with a vengance tomorrow.
Also this feels a bit bull-trappy...

Look at the rest of the industry:
TSLA: +5.6%

old auto:
GM: +4.6%
F: +5.5%
VOW: +6.2%
BMW: +5%
MBG: +6.3%

new auto:
NIO: +9%
BYDDY: +5.3%
XPEV: +6.6%
LCID: + 8.3%
RIVN: +6.8%
NKLA: + 4.8%
SEV: +5.1%
FSR: +4%

we are completely in the middle of the pack. This has NOTHING to do with TSLA-specfics. If tomorrow some manufacturers talk about how hard things are, China coughs a little and lockdowns, powell sneezes at the market or anything .. this can all be erased FAST.

All this - even when oil is up 5% and over 100 again, 10 year trasury yield broke 3% again (up from 2.8x 2 days ago) and other things that were used as arguments why "a recession is coming!!1"..

It just FEELS wrong to be up 5% on that

I agree.

I think we close tomorrow between $690 and $720. If I had to guess: $700.01.