Aaargh. Recession news is bringing the entire market down. I need to make myself walk away from the computer for a while and go lift some weights. This body doesn't stay rock hard all by itself.... 
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Well, it’s pretty obvious that the SP will close $1145-$1150 this week. I decided to push those pesky MMs and sold puts at both strikes ($20-$25). I also sold my last remaining +c1145s @ $25.xx (>2x gain from Friday). I was contemplating leaving the calls to be exercising, but decided to take the premiums on both sides and will wait until Friday to decide whether to roll the puts or take the shares. Given my reluctance to lose shares and general nervousness when selling calls, I’ll probably roll and just keep selling puts.
We’re playing a game of chicken with them because everyone knows the financials will be a massive beat in 2-3 weeks. Once a big whale blinks, this thing is taking off to ATH, probably two weeks. After that, I’m guessing a slow bleed back into the current range ($1100-$1200) until the March quarter end spike.
We’re playing a game of chicken with them because everyone knows the financials will be a massive beat in 2-3 weeks. Once a big whale blinks, this thing is taking off to ATH, probably two weeks. After that, I’m guessing a slow bleed back into the current range ($1100-$1200) until the March quarter end spike.
OK, full disclosure. I did not actually make $4M in 5 days. I closed over $3M in profitable spreads on December 31st and they didn't settle until a couple days ago, so they count as 2022 income. At least I can use the money I would have had to pay in taxes for 2021 to back more spreads for all of this year, and then pay the tax 13 months from now with only a small penalty (my "Loan payment").
when I glanced at your statement I thought it was $4M for 2021 and I told my wife "he did very good". But $4M in a week or two is mind blowing
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Note to self - Lifting during trading hours makes me oily, shiny, and swoll, but the SP drops more....
I hope you are right about the 1150 for this week. I've been amazed in the past at how long the whales can play chicken going into earnings by waiting to buy until somebody blinks. In the meantime they keep letting the SP slowly bleed down. Very frustrating. I'm slightly less happy now with my decision to open Jan 14 850/1100 earlier in the week. I would rather not have to roll them in 7 days with the short leg ITM if the SP keeps dropping. Official Austin or Berlin news would be great right about now....
The good ol' Burry trick
Just got done with my full body workout. 300 lb dips x 10, AMA.
Gonna go sell 5000 x 1000/1005 BPS to say I just traded 1 billion
Edit: 1 billion, not 10 million , even better!
Gonna go sell 5000 x 1000/1005 BPS to say I just traded 1 billion
Edit: 1 billion, not 10 million , even better!
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I expect that 1100 will hold, definitely, surely, probably….. hopefully. If the Friday setup looks good, I “might” dip my toe in and buy some 1/14 c1145s. I got the equivalent for $9-$12 last week, so if the current $42 price drops to the 9s, then we’re into crazy territory again. I really doubt that will happen but……if not this Friday then maybe next.Note to self - Lifting during trading hours makes me oily, shiny, and swoll, but the SP drops more....
Orders to clip 1390 all filled.Clipped 1400/1450 BCS at 80% on the down swing at open.
Still have 1390 cc/lcc, 1050/1000 BPS, and 1200/1150 BPS (this last set from rolling back an 04/2022 1050/775 BPS).
No planned trades today, though BTC orders on 1390 are in at 80% if we get another round of downward movement.
Game plan on 1050 BPS is to clip at 80% or higher tomorrow.
TBD on 1200 BPS, currently thinking a one week roll and $10 spread increase for a credit, but we’ll see what the next couple days bring. Other option is to again roll back out, widen spread, improve strike, change contract number or some other combination. Too many options right now
Rolled 1050 BPS to 1/14 for a $6.5 cr. Skimmed a little profit on that roll as well. Typically I would look to improve strike for a smaller credit on a roll like this, but price action is making me believe we're setting up for strength. Just need macros to cooperate. 1050 continues to be behind a number of key price support levels. If we eventually breakdown in to the 1070-1080 channel, then I may start to get a lot more defensive with these.
Still waiting on the 1200 BPS, though at time of writing (1132 stock price), I can roll to 1/14 and widen to 1200/1140 for a small credit.
That would be $1B of underlying value, but close.Just got done with my full body workout. 300 lb dips x 10, AMA.
Gonna go sell 5000 x 1000/1005 BPS to say I just traded 10 million
Where is the "Sh!t I hope not!" button?
One more tactical question for active traders: do you enter spread orders at market or as a limit order? With put or call orders, I have usually used limit orders. For spreads so far, I've been entering as market orders and have got decent fills (Schwab).
I've always done limit. If i'm aiming for it to execute pretty quickly, i'll put a limit between the bid/ask.
Knightshade
Well-Known Member
Ditto for opening...(and usually for closing too)... for a roll I've sometimes done market if in a big hurry as you can sometimes lose dollars on pennies otherwise
I'm not worried. This is macro action. Once the macro action wears off, we're back to our regular programming of MM's keeping it 1150.
this stock is such a roller-coaster. All my 01/14 position are 50% red 
. 1050/1000 is my highest strike.
. 1050/1000 is my highest strike.
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corduroy
Active Member
I have a weird situation where my 01/14 bps is red, and my bcs are approaching 70% profit.this stock is such a roller-coaster. All my 01/14 position are 50% red
Flehmenlips
Member
Oh boy. Just got back from a few hours away. I need some advice on rolling. I have some 7 Jan +1000p/-1100p BPS.
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