Wiki Selling TSLA Options - Be the House

[bkp_duke]

Volume is light today. Wouldn't take much to push things substantially in either direction.

 

[MP3Mike]

We've also got the shareholder meeting Oct 7, maybe pushes stock up a lot, and possibly first time without Elon, could go very well.

I don't think Elon said he was skipping the shareholder meetings, just that going forward he wouldn't always be on the earnings conference calls.

 

[jeewee3000]

Volume is light today. Wouldn't take much to push things substantially in either direction.

My thinking exactly. Don't think we'll go to Max pain around $700 but a $15 drop is perfectly possible.

 

[mickle]

I don't think Elon said he was skipping the shareholder meetings, just that going forward he wouldn't always be on the earnings conference calls.

Ah sorry you are right, I got those mixed up.

 

[Knightshade]

Was just looking at that exact thing to sell for next week... showing 6.57/6.85 credit at the moment though- thought about doing a $7 day order to catch the next couple buck SP dip

OTOH maybe makes more sense to wait for tomorrow to see if they get it down to the 740-745 range to sell these?

So far this was dumb non-advice, I am regretting having listened to myself

 

[ChefBoyardee]

9 ways to fix/adjust an Iron Condor; i printed it for easy reference

Adjusting Iron Condors – 2023 Ultimate Guide

Despite what others might try and tell you (usually when they are trying to sell you something), adjusting Iron Condors is not rocket science. You don’t need some fancy system or training that costs hundreds of

optionstradingiq.com

One adjustment I've been meaning to try is widening the strikes in a way that moves the center point closer to the current price, for example:

Initial position with SP at 750:
680/700/800/820

If SP rises to 770:
Adjustment trade: +700P -740P -820C +860C
Outcome: 680/740/800/860

If SP keeps rising to 800:
Adjustment trade: +740P -800P -860C +920C
Outcome: 680/800/800/920

Basically, it turns it into an iron fly over time, while scaling up and reducing the probability of max loss. I have no idea how this would perform though

 

[EnzoXYZ]

Yesterday in my ROTH I sold 100 shares of TSLA at ~750 and converted the cash to 4X March ‘22 600 calls. The goal is to sell the extra 3 CCs over the next 3 months before getting too close to expiration. Thanks to all here giving ‘not trading advice‘ on this little trick.

I’ll be going from 5 CCs to 8 CCs per week. If this works well and given a good buying opportunity I may put all proceeds into DITM calls vs buying shares.

 

[stealthyc]

I've been playing around with edeltapro.com for backtesting, it's pretty fun. Here's something I was trying:

 

[stealthyc]

Today I Learned that rolling for 0 credit and improved strike is called a Mexican Roll

 

[FS_FRA]

I chickened out earlier today and BTC my 765c for $0.80. Didn’t have time to spend on the trade this afternoon.

Still 65% profit is better than a kick in the head.

 

[Drezil]

i chickened out of my 760c too early as well... bought most of them back for only 25% or 50% profit.

Maximum would have been 75+% if i had cought the mininum at ~11:50..

But not worth the risk of a big uptrend.

 

[ReddyLeaf]

Well, here come the whales. 250k shares traded in one min @12:32, followed a 5 minutes later by 200k. Hmmm. My -c750s aren’t enjoying the fight. Might have to roll.

 

[AxlxA]

Well I escaped the week profitable, I was $750CC and got out today alive.

 

[Discoducky]

So non advice is to wait until Monday to open CCs?

I'm waiting to see if we spike or dip at the close today. Can't believe it hasn't been more volatile today. Defense of $750 has been strong.

 

[stealthyc]

Tangentially related to TSLA, SPY has hit a bottom on the 18th of the 3 months prior to this, followed by a quick rebound. I mean, patterns work until they don't, which could be any time, I just thought it was mildly interesting.

 

[InTheShadows]

I chickened out earlier today and BTC my 765c for $0.80. Didn’t have time to spend on the trade this afternoon.

Still 65% profit is better than a kick in the head.

My GTC buy back for .4 fired around 10:30 if I remember correctly. Glad to be out of that position.

 

[mickificki]

Is now the wrong time to have diamond hands on my 18x CC 760?

 

[euro2012]

I am still holding my 755’s and 735’s expiring today. Hard to stop watching the ticker…

 

[euro2012]

I did go for a mountain bike ride this morning and put in a BTC order for my 735’s At 15, so far the low for the day was 15.30 on those. Just missed it!

 

[dc_h]

I’m halfway home from visiting my son at college. Stuck at an ice cream shop enjoying the sunny day and to close my 750 cc. I think the smart money got out when we hit 750. I have an order to close even on trade at 3.25, but prefer to take a loss than roll to next week rather than roll even to 780 cc for next week. If Berlin and Austin announce openings next week and P and D starts getting digested ahead of release, I think we will rise into October. In the meantime I’m sticking to bps and maybe more leaps.