Wiki Selling TSLA Options - Be the House

[vikings123]

Amazing flush, I guess they will fill the gap tomorrow(1056). Somebody decided to wipe the P&D event from the history books.

Hope everybody is doing OK.

I decided to gamble on some 1200 01/21 calls @ $19.00

 

[st_lopes]

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.

Rolled 36x 1200/1150 to 36x 1200/1135 for a 3.3 credit. Still less max loss exposure than the original 12x 1050/775.

With 1082 gap now being filled, release the hounds.

 

[st_lopes]

Amazing flush, I guess they will fill the gap tomorrow(1056). Somebody decided to wipe the P&D event from the history books.

Hope everybody is doing OK.

I decided to gamble on some 1200 01/21 calls @ $19.00

Gaps are measured inclusive of intraday highs and lows. The gap caused by P&D has been filled, so technical traders won't be looking for that opportunity to pile on to TSLA at this point.

There are gaps 957-939 and 851-843, but likelihood of those getting filled (absent a genuine 10-15% broad correction) is unlikely. Though if we do get price action gradually dragging back to 1000 and breakdown there, the 957 gap will likely be back at play.

 

[wooter]

There are still considerable put walls at 1100 and 1150, so I expect MM's to recover this by friday, or adjust.

 

[BornToFly]

Oh boy. Just got back from a few hours away. I need some advice on rolling. I have some 7 Jan +1000p/-1100p BPS.

I'm expecting a market reversal tomorrow when cooler heads prevail. I would wait, and if I'm wrong, I would pay a debit to roll tomorrow. But, if you are worried and want to minimize the risk of paying a debit, then roll now to Jan 14 or 21 for either strike improvement, credit, or combination of the two. Widen the spread if you can.

 

[vikings123]

Oh boy. Just got back from a few hours away. I need some advice on rolling. I have some 7 Jan +1000p/-1100p BPS.

I'd suggest rolling it 2 weeks out with lower strikes. You are playing with fire when you sell that close to SP especially when the stock had a huge run. When did you open them?

 

[TheTalkingMule]

BPS 1/14 $1050/$950 @ $22

NOMNOMNOMNOM

 

[UltradoomY]

ATM P's with about 2 DTE are juicy!

STO 01/07 $1100 P's for $30 each just now - Free roll if needed to $1070 or lower.

 

[ABC2D]

I guess they will fill the gap tomorrow(1056)

What gap? the only unfilled gap left is 938-966, but I dont think we're going that far down

 

[ABC2D]

Gap filling time, $1,082

Done. Time to open some BPS

 

[Flehmenlips]

I'd suggest rolling it 2 weeks out with lower strikes. You are playing with fire when you sell that close to SP especially when the stock had a huge run. When did you open them?

yesterday morning.

 

[vikings123]

Gaps are measured inclusive of intraday highs and lows. The gap caused by P&D has been filled, so technical traders won't be looking for that opportunity to pile on to TSLA at this point.

There are gaps 957-939 and 851-843, but likelihood of those getting filled (absent a genuine 10-15% broad correction) is unlikely. Though if we do get price action gradually dragging back to 1000 and breakdown there, the 957 gap will likely be back at play.

Thanks for the correction.

What gap? the only unfilled gap left is 938-966, but I dont think we're going that far down

You are right, see @st_lopes post above. Cheers.

 

[Flehmenlips]

I'm expecting a market reversal tomorrow when cooler heads prevail. I would wait, and if I'm wrong, I would pay a debit to roll tomorrow. But, if you are worried and want to minimize the risk of paying a debit, then roll now to Jan 14 or 21 for either strike improvement, credit, or combination of the two. Widen the spread if you can.

Thanks. Seems reasonable.

 

[CHGolferJim]

Sticking with the new approach (non-taxable account) which helped the year-end results:

* 1/3 STO 010722C1205 at $17.40 on the $1073 non-core buy-write —> BTC at tbd
* 1/3 STO 010722C1275 at $5.70 on 60% of core long shares —> 1/5 BTC at $0.43 (+92%)

* 1/3 STC 031822C1100 at $150 on 4th of 4 purchased 12/14 for $62.50; 116% return in 3 weeks
* will roll 2x011422C1100
* plan to be on sidelines by the date of ER

• 1/5 STO 010722C1205 at $1.79 for loose change on the core CC; most likely will let all at $1205 expire on Friday and rewrite again on Monday/Tuesday (feeling like there may be weekend news re Austin)

 

[Flehmenlips]

I'm expecting a market reversal tomorrow when cooler heads prevail. I would wait, and if I'm wrong, I would pay a debit to roll tomorrow. But, if you are worried and want to minimize the risk of paying a debit, then roll now to Jan 14 or 21 for either strike improvement, credit, or combination of the two. Widen the spread if you can.

I waited.

 

[euro2012]

Fwiw, I rolled my -1100/+900 BPS expiring 1/07 to 1/14 same strikes for $20 credit. Perhaps I’m naive to macro conditions, but I do not see how going into earnings we are below $1100. I did the roll as the stock price dipped past $1130 today. Happy to roll to 1/24 next week if needed.

 

[ChefBoyardee]

I agree about there being a reversal tomorrow. Two signs pointing to that right now:

I have 1090/1050's and a few 1170/1150's for this Friday. I'm leaving both, will either eat the loss on the 1170 or roll it to after earnings, but I think the 1090's will expire OTM

Giving up 100% of the P&D gains is ridiculous

 

[BornToFly]

I agree about there being a reversal tomorrow. Two signs pointing to that right now:

View attachment 752358

I have 1090/1050's and a few 1170/1150's for this Friday. I'm leaving both, will either eat the loss on the 1170 or roll it to after earnings, but I think the 1090's will expire OTM

Giving up 100% of the P&D gains is ridiculous

I sure hope so. I have a $1.2m payout next week if we can stay above 1100 next Friday. Won't be a total loss if I need to roll, but I'll still be disappointed.
800X 850/1050 and 200X 850/1100. (If I opened them now instead of the previous two days, they would have been worth $2.8m... )

 

[OrthoSurg]

I sure hope so. I have a $1.2m payout next week if we can stay above 1100 next Friday. Won't be a total loss if I need to roll, but I'll still be disappointed.
800X 850/1050 and 200X 850/1100. (If I opened them now instead of the previous two days, they would have been worth $2.8m... )

I thought I was smart opening all my positions yesterday during the dip. I was worried about my 1310 CCs. Now I am worried about my 1050 Puts. I thought we were entering a bullish run heading into incredible numbers earning release. Things turn around so fast it’s impressive.
One fed announcement and a 71% Year over year growth announcement is erased while Ford was up 12% yesterday and -43% sales GM heading to bankruptcy takes a smaller drop than +71% YoY TSLA. It’s hard to try to predict the market when it acts like a schizophrenic bipolar wallstreet trader intoxicated on cocaine.

 

[ReddyLeaf]

Ok campers, there’s still more pain out there. Unfortunately, I’m fully expecting to see @Artful Dodger ’s post tomorrow about hitting the 50-day SMA at 1072.69. Hopefully, that will be followed after the close by @Curt Renz ’s post about how closing ABOVE the 50-day SMA is a positive technical sign (please Santa, I’ll be good, I promise). I’m still hopeful that MaxPain will guide a return to $1145 by Friday, otherwise I just might have to accept defeat and take assignment on those 1145&1150 puts. Edit: I just hope we don’t fill the gap of 838-857 between Dec.21-22.