Wiki Selling TSLA Options - Be the House

[BornToFly]

I really don't get the markets. Am I the only one that heard Austin has already started production with the new 4860 cells, they will sell over 1.5M vehicles this year, and their margins are better than anyone else's?

 

[BornToFly]

I rolled some of my 1050/850 to next week for a small debit.

 

[stealthyc]

EV Makers all down at open.. NIO, XPEV, LCID, RIVN

 

[scubastevo80]

Nasdaq up 1%, TSLA down 5%. What time do the shenanigans end today before the bounce to $950+?

 

[strago13]

I dont know that we're bouncing anytime soon. I hope we do, but I think we might touch 800 before heading back over 900.

I am worried I am going to be rolling puts in perpetuity.

 

[juanmedina]

Common sense doesn't work here. I though it would be an easy sailing from here to Friday but not so much. I opened some 790/740 BPS for Friday.

 

[TheTalkingMule]

Trying to convert shares to LEAPs and goddamn Fidelity has my existing LEAPs "mispaired" to my shares so that I can't sell any. So annoying. How is there not a simple algo to bypass these issues?

I have a hodgepoge of random LEAPs both sold and bought in my IRA, but they net out to plenty of unpaired shares I can use at my leisure. Fidelity has them paired very strangely with shares as margin and then a few naked long calls unpaired. WTF?

Have called them a few times and no one seems to have an answer other than selling it all and rebuying positions.

Edit: Resolved! Just needed to get someone with a brain.

 

[samppa]

heck, just noticed I had a single naked -p1100 for 1/28.. it's only 1 contract so I rolled it to -p1500 jan 19 2024. This brought in a credit of $55k, and lowered my margin a fair amount. Now I can forget about this for the next 2 years

 

[UltradoomY]

Making moves today but not on my 01/28 positions
Just purchased 69 shares at $895!
Also a couple of 01/24 leaps $700's at $396!
I am so thankful to have some dry powder - remember that analysts will update forecasts over the next week based on what TSLA printed not the FUD of "no new cars!"
If you can wait it out, do it, if you can roll, roll to the safest place you feel comfortable (I am only going a week out, when I roll tomorrow)
Good luck all.

 

[CHGolferJim]

I really don't get the markets. Am I the only one that heard Austin has already started production with the new 4860 cells, they will sell over 1.5M vehicles this year, and their margins are better than anyone else's?

This is how we beat the market, on TSLA at least……

 

[Right_Said_Fred]

I managed to roll the rest of my -p1030s by one week to 2/4 and got $10.50 for them. Yesterday I got $13.50 for the other half, so my bet that we would go up after earnings, if only for a few hours, didn't pay off.

But I'm still not unhappy with the premium, given that the position was 120 points ITM at the moment of rolling. And there was a danger of assignment, as the extrinsic value dropped from $15 yesterday to $1 today, so I had to act fast. I probably won't be taking that risk again, so close to expiration.

 

[wooter]

Then don't roll today. Simple.

IBKR nanny decided otherwise for me after holding below 890 for a while. And then it held for a while at 890 so I sold the corresponding 900p.

It's not great, but it's not bad.

 

[ChefBoyardee]

One of the best opportunities I've seen in a while . If you believe the channel, 850-860 ish is the floor.

 

[mickificki]

I can roll my 1/28 920/820 to 2/4 920/800 for $10.12. So tempted, but really want this to close out tomorrow. what to do...what to do...

 

[bkp_duke]

FUDsters are in high gear today.

Elon Musk says it’s more important for Tesla to make a robot than new car models this year

Tesla CEO Elon Musk believes a humanoid Tesla robot that's in the early stages of development could one day overtake the company's vehicle business.

www.cnbc.com

But Elon did nothing to help the call yesterday, in regards to what investors wanted to hear about.


I'm at max loss now. Truly, down like 80% of the portfolio. Not suicidal, but everything built up since this adventure began last Aug for me is gone at this point.

 

[CHGolferJim]

I sold $975 for 1/28 yesterday in a buy-write ($974 cost basis, 1/21) for a sweet $30 premium and guaranteed 3% return in 7 days assuming no SP decline. Likely will roll out a week (+$30, $3 credit) to capture incremental capital gain if SP >$975, but there was ~$20 premium delta vs. $1050's at the time which I now have in hand to work with in the roll decision.

I've modified my HODL and Calls Strategy (don't do puts and spreads) to sell against

• 35% of held shares --> aggressive strikes within buy-writes that I'll allow to assign if SP soars out of reach, roll when possible to capture incremental capital gains
• 30% of held shares / 47% of core shares --> very cautious strikes 15% to 20% OTM that I will roll come hell or high water
• LEAPS with approximately equal level of delta as core shares
• occasional impulse anger purchases on dips of 4-8 month calls generally $150+ OTM for capital gains prior to expiration

Closed the 012822C975 this morning at $2.61 (91% profit) so now all remaining CC are for 0204. Nothing to track as I drive to GA/FL tomorrow, unless there is a significant SP spurt that suggests selling today's tranche for 0204.

 

[jeewee3000]

Trying to convert shares to LEAPs and goddamn Fidelity has my existing LEAPs "mispaired" to my shares so that I can't sell any. So annoying. How is there not a simple algo to bypass these issues?

I have a hodgepoge of random LEAPs both sold and bought in my IRA, but they net out to plenty of unpaired shares I can use at my leisure. Fidelity has them paired very strangely with shares as margin and then a few naked long calls unpaired. WTF?

Have called them a few times and no one seems to have an answer other than selling it all and rebuying positions.

I pulled the trigger and converted another 100 TSLA (like I did earlier this week) into 4x JAN 2024 1450c LEAPS. This time I got a better price given the lower IV.

Yes, they might go down still before heading upwards, but now I have confirmation FSD will happen before expiration of these LEAPS = $$$.

Wake me up in 12 months and I'll convert these back to shares at prices far beyond current ATH .

 

[intelligator]

Trying to convert shares to LEAPs and goddamn Fidelity has my existing LEAPs "mispaired" to my shares so that I can't sell any. So annoying. How is there not a simple algo to bypass these issues?

I have a hodgepoge of random LEAPs both sold and bought in my IRA, but they net out to plenty of unpaired shares I can use at my leisure. Fidelity has them paired very strangely with shares as margin and then a few naked long calls unpaired. WTF?

Have called them a few times and no one seems to have an answer other than selling it all and rebuying positions.

When I roll to a date that has a matching short or long strike, the roll is mismatched. Speaking with Fidelity, the system tries to best arrange to optimize margin. It is bothersome to look at option summary due to some pairs actually showing debit.

You probably already know this but may help others using Fidelity... that regardless of the pairing, for spreads, the suggestion was to proceed and trade the pair as rolled by overwriting the pre-filled values per the Closed Strategy action. This requires tracking the pairing outside of Fidelity... annoying.

 

[vikings123]

I really don't get the markets. Am I the only one that heard Austin has already started production with the new 4860 cells, they will sell over 1.5M vehicles this year, and their margins are better than anyone else's?

Markets are stupid, people like over the top product announcements. Algos are dumb too so it just gets accentuated. Don't shoot me but I don't think we have seen the lows for the day. I think with the way algos trade we have to give more credence to the technical analysis, it's a casino.

 

[samppa]

heck, just noticed I had a single naked -p1100 for 1/28.. it's only 1 contract so I rolled it to -p1500 jan 19 2024. This brought in a credit of $55k, and lowered my margin a fair amount. Now I can forget about this for the next 2 years

which brings in an interesting train of thought.. I could just sell a couple really long term puts and that would easily cover living expenses, then let my shares appreciate..