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Wiki Selling TSLA Options - Be the House

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Perhaps capitulation finally?

QQQs retesting March lows. It is hard to see them holding and stocks recovering but this is how it goes with market beat downs.

If they hold and their is some good news on macro front we should have the beginning of a base. Otherwise....

Truth is QQQs are back to where they were just one year ago. A year before that they were at 190.
 
I found myself in this position with mis-timed CCs during the run-up from $800 to $1,000+. Rolled them for several weeks, but the rolls kept getting tougher and tougher as the strike price went further ITM. After the earnings announcement, I watched in agony on Thursday morning as the SP spiked to almost $1,100. As the SP incredulously continued to drop throughout the day, I bit the bullet and closed out the CCs at a loss.

Who knows if I was premature with my decision. SP could easily continue to move sideways or down from here. But I experienced serious FOMO on my CC position and was thrilled the SP dropped so I could cover at an acceptable loss. I'm sleeping way better at night knowing I am fully long TSLA.
This didn't age well.
 
Is Elon dumping shares?

I don't know if it's Elon or not but TSLA has already traded about 20 million shares which is about 70% about it's daily volume while some of the other big caps like AAPL, NVDA or GOOG and names like RIVN etc have only traded about 25-35% of their daily volume.

I think you have to assign some probability to Elon selling shares as unlikely as it may be.

898.38 also should have triggered the 10% uptick rule so we have that going in our favor :(

edit: 898.22 should trigger the uptick rule and the low was 898.25, no manipulation folks lol
 
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What does him having 1500 shares have to do with selling short puts? Hopefully he has the money to purchase if he gets assigned.

I'd sell CCs for income @BLSmith2112 . Maybe not a day like this obviously.
With 1500 shares, he probably has the margin for it, and doesn't have to worry about losing shares on CCs.
 
Rolled June 900 2022 and August 900 2022 to Jan 900 2024 for a sizeable credit. I had been holding this thinking the worst was over and honestly I should have closed the August 2022 at 60% on Thursday last week. I am still playing with the same puts I had from the fiasco in January. I am anxious to get these closed out, but it seems like that might be a long way off.

I mostly had to make a move today because margin was getting tight.
 
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Someone please tell us when we hit the bottom so I can buy some calls
I already bought a couple Nov $1200c. Always too early! $83 and $76. I'm gonna stick with that strike/expiration and accumulate.

Officially getting uncomfortable with my leverage and cash position. I own 2 shares and tons of LEAPs/calls/cash. Now dipping into a bit of that cash for more calls Nov calls.

Nerve-wracking indeed! Such is the TSLA life.
 
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Might as well rack up margin debt because TSLA only goes up, right?

New people should see everyone's P&L before taking advice.
If you paid any attention to my posts, you'd see that I often advised against CCs, as these have been the worst decisions I've made, and where most of my opportunity loss has happened.

As for puts, my advice/not-advice is to sell ONE put short. Should one do that(with 1500 shares), one uses less than 10% of margin, and can literally survive drop to ~$100 TSLA (before split) and without margin call. So I found your comments superficial.

As for results, I've been almost obliterated at some point in '16 (87% down if I remember correctly), which I also commented on. I've also had great returns since... I'd like to think that later is result of the former...

performance worst period.PNG



Screen Shot 2022-03-22 at 5.25.06 PM.png
 
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We are at 30 million shares already. This certainly looks like Elon is dumping. Oof. Wonder how much he needs to sell....

I am grateful for all things Tesla, but the past few months certainly have been distracting and hard. And I know I am not alone.

I guess if he is selling and it comes out he is done TSLA will rocket again. Crazy stuff....