Wiki Selling TSLA Options - Be the House

[OrthoSurg]

so what's next $940?

If yes, then I have to roll everything I have for this week. Will select the week after earnings. Hope earnings are the start of the next rally.

 

[JustMe]

Pre-market looking ugly. Bear raid and then bounce today? Or perpetual sell-off following macros?

I vote for the first option

 

[MaxPain]

When I roll today or this week I'm going for maximum price improvement (even for a small debit). Macros are going to be garbage for while IMO.

 

[corduroy]

Premiums are going to be good for sure, but I'm not feeling too confident opening new BPS. 20% OTM would be in the upper 700s now. That seems safe, but who knows these days.

 

[bkp_duke]

Well, buckle up. Not starting off like we wanted for the beginning of the week.

Going to be eyeing some rolls this morning. Just hope we find some support early and this isn't a huge bear raid day . . .

 

[JustMe]

Premiums are going to be good for sure, but I'm not feeling too confident opening new BPS. 20% OTM would be in the upper 700s now. That seems safe, but who knows these days.

I’m not saying it won’t happen, but the SP will be backstopped by strong earnings. A drop to that level would take a complete market dump, I reckon. We’ve been down that road before, not too long ago.

 

[traxila]

Macros need to stabilize for stock pickers to emerge.

Until then the MO is to flush repeatedly.

 

[tivoboy]

Looks like we go lower before any kind of rally. I posit that few if any predicted the price action of the past week with TSLA. I sold some BCS last Monday with trepidation and some CCs that have obviously fared well, but not on the basis that I thought the entire rally would collapse and be erased, but in the belief that it would stall for earnings. The BPS I sold on the never ending dips afterwards all look sick.

I believe that has many of us rattled here. TSLA executed well beyond even bullish expectations and is getting hammered ostensibly over a quarter or half a point of interest rates. I expected a beat down at some point, but timing is everything and the timing here is tough to swallow. But that is how the market works.

Should be an interesting week.

I would posit that “few if any” implies none, which isn’t correct. ;-).

 

[traxila]

I’m not saying it won’t happen, but the SP will be backstopped by strong earnings. A drop to that level would take a complete market dump, I reckon. We’ve been down that road before, not too long ago.

Easy to hold spectacular earnings against TSLA in this environment by pointing out how ”ridiculous” and “overextended” their PE remains while ignoring growth trend.

TSLA could show a forward PE of 80 (outrageous! Who would buy that?!) based on this Q and still be punished depending on the macros.

Hope my status as a contrarian indicator is intact.

 

[traxila]

I would posit that “few if any” implies none, which isn’t correct. ;-).

Guess you would be the exception.

Congratulations.

 

[tivoboy]

so what's next $940?

$990 might provide some WEAK support, I’ve moved my $970 target to eh gads, $936, then there is an air pocket down to high 8XX, $879, then below $800. With so many rapid moves in the past four weeks, getting closer to exact is never going to work for technicals other than solid bases or near term or ATH. Stay frosty, volatillily is your friend if you’re ready for it.

 

[BornToFly]

I think I'm going to roll my 850/1050 to the 28th and reduce the number by 1/3 with a small debit in order to free up margin. I will then use that margin to either widen the spread on my 1/28 850/1100s, or actually buy more shares for a quick 20% profit when we jump (and preserve more margin than I would buying calls).

 

[samppa]

I think I'm going to roll my 850/1050 to the 28th and reduce the number by 1/3 with a small debit in order to free up margin. I will then use that margin to either widen the spread on my 1/28 850/1100s, or actually buy more shares for a quick 20% profit when we jump (and preserve more margin than I would buying calls).

Thinking on those same lines..

 

[BornToFly]

On the plus side, I had no problem "dropping weight" in the bathroom this morning....

 

[Zhelko Dimic]

$990 might provide some WEAK support, I’ve moved my $970 target to eh gads, $936, then there is an air pocket down to high 8XX, $879, then below $800. With so many rapid moves in the past four weeks, getting closer to exact is never going to work for technicals other than solid bases or near term or ATH. Stay frosty, volatillily is your friend if you’re ready for it.

I shouldn't enter new bullish positions until Jan 20th, if I were to keep losses in the last year to offset some of the massive gains I cached in.
Do you think there is any chance this weakness may persist until then? That'd be wicked (for me), but I expect reversal would be likely furious and quick, and before then...

 

[tivoboy]

I shouldn't enter new bullish positions until Jan 20th, if I were to keep losses in the last year to offset some of the massive gains I cached in.
Do you think there is any chance this weakness may persist until then? That'd be wicked (for me), but I expect reversal would be likely furious and quick, and before then...

I DO think this weakness will continue till then but I do agree that a reversal could be furious and quick. At This point I’m collaring a range, sub 850 with puts over 1200 with some OTM calls spreads.. plus ready to deploy ~ 750k if/when I feel that is better for my re-buy medium term entry.

 

[FS_FRA]

Rolled my 1/14 -990/+790 to 1/21 -970/+770 for $1.8 credit. Will see how the week develops and then either roll further, close, or let expire

In the meantime I'm going to look to buy some TSLA to fill an odd number in account. Laddered orders in @980/975/970/965/960

Edit: first 10 in at 980

 

[euro2012]

Well, managed to roll my -1100/+900 BPS from the 14th to the 28th at the little pop this morning for a whopping $2 per. I was actually thinking I might have to pay to roll for time given the drop in premarket, so its nice to get a little premium instead. Maybe I am too bullish, but I can’t see this price lasting through earnings. Wait to see I guess.

Oh, and I’m headed into the backcountry now to go skiing, this is too painful to watch, lol.

 

[jeewee3000]

Rolled my 1/14 -1000/+850 BPS to 02/04 -1000/+850 for decent credit.

Reason why I didn't pick 1/21 is we will most likely have earnings after the 21st and I believe the chances of staying below $1000 after the blowout earnings that are to come are very slim. Before earnings we could stay down or see a reversal, but it's up to the macros and the manic market.

 

[TheTalkingMule]

Sitting on my 1/21 BPS $960/$1060 and looking to roll a week for small credit. Can't imagine we don't touch $1008 at some point this week, I would think even today.

Cheers to the hedgies for their fine work, but it has to get bulldozed by FOMO and the easy looming spike play. Who blinks first?