Wiki Selling TSLA Options - Be the House

[BornToFly]

What do you guys think? Try to close Friday 910 BCS at the open for a small loss, or let them ride? Do we really break through 910 tomorrow? The problem with rolling them if we break 910 is strike improvement for the following week might be limited and they may get even farther ITM next week if we have a squeeze. (Of course, every time I worry about stuff like this the SP goes nowhere. It's when I don't worry that I get steam rolled....).

Edit: Well, gonna at least wait for some kind of MMD now...

 

[Yoona]

What do you guys think? Try to close Friday 910 BCS at the open for a small loss, or let them ride? Do we really break through 910 tomorrow? The problem with rolling them if we break 910 is strike improvement for the following week might be limited and they may get even farther ITM next week if we have a squeeze. (Of course, every time I worry about stuff like this the SP goes nowhere. It's when I don't worry that I get steam rolled....).

 

[EnzoXYZ]

You mean the China July sales numbers that will be much lower than June sales, because of exports, and will be completely miss characterized by the media to create massive FUD and drop the SP? Those July numbers?....

Word of advice is never trust official Chinese government numbers. They WILL make up numbers to fit their narrative. How do you still get positive/growth numbers from Shanghai when most of the quarter the city was shutdown? By making it up is how but why not if there isn't anyone stop it.

 

[BornToFly]

Looks like we are just going to follow Macros today. 910s should be safe.

 

[juanmedina]

I sold some $910 for $0.7 today now at 50% profit. I was really hopping for Tesla to get close to the 900's this week .

 

[Yoona]

 

[dc_h]

I feel like we are repeating last weeks trends, just at a higher level. I rolled 825 CC's to 875 and 810 to 835. I could have escaped the 810's cheap at the low on Friday and the . Looking at Yoona's chart on the odds of closing tomorrow over 840 does not want me holding 835.
Anyhow, crazy macros seem to be driving TSLA and all.

Trying to roll 835 CC's to 8-5 900 for 1.25 debit. I may have missed the low by a minute.

 

[UltradoomY]

View attachment 833778
View attachment 833779

Unusual Whales just posted the same for next week - so probably a calendar spread
$TSLA
2022-08-05 C $890
Underlying: $827.22, %
Diff: 7.59% Bid-Ask: $7.0 - $7.15
Interest: 663 Volume: 4,459
IV: 52.65%
Daily $ Volume: $3,154,743 Sector: Consumer Cyclical

 

[Yoona]

I feel like we are repeating last weeks trends, just at a higher level. I rolled 825 CC's to 875 and 810 to 835. I could have escaped the 810's cheap at the low on Friday and the . Looking at Yoona's chart on the odds of closing tomorrow over 840 does not want me holding 835.
Anyhow, crazy macros seem to be driving TSLA and all.

Trying to roll 835 CC's to 8-5 900 for 1.25 debit. I may have missed the low by a minute.

i closed all my 7/29 -p790 at market open, ~85%

sold 7/29 -p800 at the dip

buy-write still c820

no CC in retirement acct this week

 

[UltradoomY]

Not everything is a win....
Bought P $780 $1.10 when we started dipping hoping for a scalp....
Sold P $780 when the reversal started for $0.99 each

TSLA showing some great strength this morning with strong volume.

 

[EnzoXYZ]

Not everything is a win....
Bought P $780 $1.10 when we started dipping hoping for a scalp....
Sold P $780 when the reversal started for $0.99 each

TSLA showing some great strength this morning with strong volume.

Feels like FOMO kicking in good for next week's shareholders meeting. Hope the split date is then announced after market close on Friday.

I've closed out all my BPS yesterday and now only 875CC left to deal with.

 

[Yoona]

amazing fibs, it really works... MMs stopped the sp at the 161.8% extension 4x

latest fistfight is at the PM High ~841

edit: TSLA is RSI overbought at 843

 

[CHGolferJim]

Rolled 7/29 $700 and $755 CC out one week at same strike for about $5 total credit, and added 8/5 $975 at $0.91 on the remainder of non-taxable shares. Unlike earlier this year when I aggressively chased SP after a spike up, I'm going to be calm and just nudge to avoid large debits. There's still volatility, right?

 

[ice]

Rolled 7/29 $700 and $755 CC out one week at same strike for about $5 total credit, and added 8/5 $975 at $0.91 on the remainder of non-taxable shares. Unlike earlier this year when I aggressively chased SP after a spike up, I'm going to be calm and just nudge to avoid large debits. There's still volatility, right?

I rolled my 7/29 -$760c $82.45 (SP around $842) to 8/19 -780c $82.55 (SP around $840), $20 strike improvement, no credit or debit , cumulative credit for this position is $53, so potential assignment proceed= $833/share
also rolled 7/29 -$740c $101.9 (SP around $841) to 8/19 -750c $104 (SP around $841), $10 strike improvement, $2 credit, cumulative credit for this is $61 so potential assignment proceed = $811/share

Leaving my 9/16 -700c (rolled from 5/27 -600c with credit) alone for now with 7.2 weeks left, there's still intrinsic on that one to decay

While I have missed gains, this has been a good situation to me 1 contract is for paying off margin and the other one is to pay for the almost monthly increasing Model Y cost, as long as I can keep up with margin interest/model Y interest increase, I'm content. This sure beats trying to work on my margin call spreadsheet everyday

 

[Discoducky]

Seems like there is a setup for an $850 Friday close...

 

[WattsHappening]

Rolled 7/29 $700 and $755 CC out one week at same strike for about $5 total credit, and added 8/5 $975 at $0.91 on the remainder of non-taxable shares. Unlike earlier this year when I aggressively chased SP after a spike up, I'm going to be calm and just nudge to avoid large debits. There's still volatility, right?

I'm considering doing something similar with my 7/29 CC765. Roll them out for just one week at the same strike price for about $3.50. Either that or let the shares get called away and immediately get on the wheel.

Torn between thinking the SP has moved up to the point where it needs to take a breather, and knowing there are a couple of potential positive catalysts coming in the next week (shareholder meeting, July Shanghai P&D numbers, possible stock split announcement) that could continue to drive up the SP.

I'm leaning towards the wheel, largely in part because I've never tried this before and want to see how it works.

Or I could be real smart and just let the call get exercised, buy back as many shares as I can with the proceeds, and then just HODL. That would probably be the smart play, but who am I kidding, I'm not smart.

 

[Drezil]

opened 5x -825 +2x815 Put for 0.09 (could not get <0 -.-). This will hedge a retractment below 800. If we continue to rise that costs me 50 bucks. BUT it made 45k margin available to play with tomorrow
risk: max-loss is -5k @815 closing tomorrow. BUT it will only go there hard very late. And only if we are in that range. Early tomorrow it won't hedge much (like giving me 1-2k or so), but the amount of saved margin "for free" is astounding - plus i should be able to sell it for a gain <805 and around 820 (little "hump" in the P&L-Graph as the 2x+p gain faster than the -p until 820)

 

[Yoona]

amazing fibs, it really works... MMs stopped the sp at the 161.8% extension 4x

latest fistfight is at the PM High ~841

edit: TSLA is RSI overbought at 843

View attachment 833806

5 hrs later, they are still going at it; today's Close is between that fib and PM High

 

[BornToFly]

Last year, starting in October, TSLA went from under 800 to over 1200 in less than one month....

 

[BornToFly]

I'll have to see what premiums are like in the morning, but I'm tempted to flip my 7/29 -910/+1010 calls to something like 7/29 -820/+720 Put spreads tomorrow morning. It could be a strong Green Day for the market.

Edit: Or, roll my worthless 650/550 up to something like 780/680 to pay for roll of the BCS up just a little from 910 to 920....