If he is selling anywhere near as many shares as last time, we will be at $500 a share at this rate.
-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
If he is selling anywhere near as many shares as last time, we will be at $500 a share at this rate.
Given the price action and spike in volume, I guess we have to hope that Elon IS selling. Kinda scary to think about what could happen if he isn't selling today but is planning to in the future.
I know this is wishful thinking, but wouldn't it be great if we found out that Elon sold everything he had to sell today?
Knightshade
Well-Known Member
corduroy
Active Member
Maybe I am reading this wrong, but wouldn't rolling your strike up decrease the delta?
Couldn’t resist closing non-taxable 0520-c$980 at a 56% discount to yesterday’s close. Much of this was part of a $974 buy-write, so hope to recoup the cost and more when shares recover. Maybe I’ll sell weeklies at $975 until they assign as I’d like to pare down to HODL shares and LEAPs for awhile.
I do. And I can't say I am happy about the whole situation.
Elon has already gone on record that a free Twitter platform is essential to a functioning democracy. It is not like he doesn't tell us what he is doing. Hindsight, he certainly did.
So that would be his response. Special circumstances. I will withhold judgement based on whether I am margin called.
Not like my attempts to play the GOOG split and low PE have paid any dividends either. They report in 3 hours. The roller coaster continues.
Sigh. Days like this I wish I had a margin account. lol
Any LEAP suggestions?
Any LEAP suggestions?
No, you don't. Trust me.
unless the volume counter is off, lots of volume blocks sized at 40242, starting just after noon ...
Great info; thanks. Could you post a chart/graph/etc.? I would love to see how many blocks.
EDIT: Nevermind, must be the display scaling... zoomed in, it's another value altogether.
Nothing fancy, hence wondering if the counter is off... I was just hovering mouse over the CNBC chart , 1 day view.
Last edited:
higher strike = lower premium --> in this case, the $ cost/delta is lower with the higher strike. Thus, with the same amount of money, I can buy more delta.
(I was talking about position delta in my original post)
No, I haven't read your other posts. I'm just pointing out the increased potential for unrealized/realized losses over time, not a margin call specifically.
I obviously don't know what his portfolio looks like but based on his income, I'm assuming he got in early in TSLA and it makes up a large %.
Your suggestion is get even more long to provide some short term income. I'm all about downside protection so I suggest considering CCs to cushion the blow if things get bad or stay flat. I'd rather say something to help him keep the gains even if it limits his upside. I think even far OTM CCs can provide a decent income considering his salary.
Don't take it personally (I don't think you did), but I'm always skeptical. I'd say the same thing to an irl friend, if I had had any who traded like us. I think it can come off wrong sometimes but I end up learning a lot because now I'm looking at the TSLA options chain more than I would have today.
I'm always going to point out the what ifs when it comes to doubling down on long positions using leverage at the beginning of what might be an ugly bear market. Especially seeing how people regularly get wrecked trading something as volatile as TSLA.
I had sold CC's in the $1100 range a few weeks ago with various expiry this year having a feeling some macro headwinds would come. I didn't expect a combo macro + Tesla dive in one day! Closed all those CC's for 30-50% profit. Sold a $895 put on margin expiring Friday. Just relaxing and taking advantage when there are big moves.
Do you still have your long term BPS? I wish I had closed all of mine... I was up nicely on those.
I've been expecting the share price to be going down over the next month. Mostly for the simple reason that we'll be in between earnings call / production report, and that's a great window for manipulating the share price down. And not much in the way of news to change the narrative.
Admittedly I was looking for 900 share price in more like a week than today.
I'm kind of liking it too - I've been wanting to buy and I'd much rather buy at 800 than 1000
I decided that 905ish was a bottom and started my own buying. I picked up June '24 500s - I had previously decided I was going to use that date and strike for share replacement purchases. Keeping them on the same expiration and strike will simplify my life.
This gets me to about 2-3 units of cash to 1 unit of shares. I'd like to be closer to 1 to 1 at this share price. However I think that we're not down as far as we'll go, so I'm taking the opportunity cost / risk that the share price doesn't keep going down, thereby missing out on this great purchase opportunity.
I'll probably get to 1 cash to 2 shares around the 800 strike, and then even less cash at 650 or 700.
For share replacement leaps I'm using June '24 500s. These cost me $524 earlier today or about $120 time value for 2 years (and a bit) and a small bit of leverage - roughly 1.7x over buying shares.
The big drop today let me close my 1100 and 1130 calls expiring this Friday for 95% gain. With the uptick rule going into effect for tomorrow I expect at least flat, if not up. That'll be a good time to open new calls.
I also used the big drop to open new puts - 800s and 750s. Those are for next week 5/6 (I meant for them to be for this Friday, but got the expiration wrong; 5 times over 5 transactions
). Still a position I like. I also did these as put spreads with 500 strike insurance. The put spreads enabled me to sell about 2x put spreads over CSP - that's as much leverage as I'm looking to make use of these days (2x of csp or 100% share ownership). Even the 800 strike I'm comfortable with as I don't see us going below 750 (previous strong support) and I've got a lot of room to roll down.
I need Yoona to post something about why we aren't going to hit my BPS short leg of 790 on Friday....
We are still less than a week out from something like a 150% earnings beat.
We are still less than a week out from something like a 150% earnings beat.
Yes in my taxable I have the 600/800 Jan 23 still. I still feel pretty comfortable about those even though they swung from +$100k to -$150k in a few days
.I am even more comfortable with my Jan 24 500/700 BPS which I converted my IRA to when TSLA went down to $700 which should double my IRA account by expiration!!!
Similar threads
