The loss offsets any other gains in the year though, so if you wanted you could take the opportunity to sell appreciated shares or the like
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Correct, which is why I would sell shares temporarily to reset their cost basis.
Sorry for the funny. I just bought back mine and rolled down to 920, 925, and 955s. IMHO looks like we won’t break $900 this week.
Edit: From one of @Yoona ‘s previous highly informative posts, we have a 98% chance of ending between $845 and $900 (today’s high and low, so far).
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bkp_duke
Well-Known Member
With the Fed adjusting rates on Wed afternoon, AND the buffoon J. Powell speaking, I'm clearing out of my positions before that. No clue which way that guy is going to go. We know rates are going up, 50-75 bp (probably 50), but his comments may turn dovish b/c the GDP contracted in Q1, or they may stay hawkish because inflation is still ripping hard.
Not advice, but I'm going to be in cash until I see which way the wind blows with that guy this week.
This saved our taxes this year. It also made us question why we would ever take a car loan out or any other loan again when we can just deduct margin interest from our taxes.
FYI, folks should take a look at the options chains for July vs August and later. There is a big step change in prices in the higher strikes ($1400+). Looks to me like the MMs are preparing for the split, but what do I know. Would definitely appreciate thoughts/analysis from the experts: @Artful Dodger @Papafox @adiggs @Chenkers @jeewee3000 @Yoona @dl003
Edit: Thanks @bkp_duke for the advice. I’m only selling such risky CCs right now because I have sold cash-secured puts at 970s, 990s, 1000s, and 1100s (various dates out to Jan 2023). I’m trying to make some premiums on the CCs and will roll up and out as needed, maybe eventually catching or surpassing my CSPs. I’m feeling a bit like the @Max Plaid of old (before he made so much and got conservative).
Edit: Thanks @bkp_duke for the advice. I’m only selling such risky CCs right now because I have sold cash-secured puts at 970s, 990s, 1000s, and 1100s (various dates out to Jan 2023). I’m trying to make some premiums on the CCs and will roll up and out as needed, maybe eventually catching or surpassing my CSPs. I’m feeling a bit like the @Max Plaid of old (before he made so much and got conservative).
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You can only deduct margin interest on funds used for investment purposes. So the portion that is a result of buying a car, or other non-investment things, can't be deducted.
What if your car is an appreciating asset?
Seriously though, if you have 100% of your funds in stocks, then withdraw cash inducing a margin position, isn't all of the margin then being used for investment purposes?
Although technically true a look at my tax forms from td ameritrade simply shows a line item for total margin interest expense without a break out for interest expense related to investments or margin pulled for other activities.
My Model Y is worth $13000 more than I paid for it...What if your car is an appreciating asset?
Seriously though, if you have 100% of your funds in stocks, then withdraw cash inducing a margin position, isn't all of the margin then being used for investment purposes?
Remember it’s the 2% that breaks the piggy bank.
Like really badly.
750BPS for me and waiting for an up day to open some CCs.
TheTalkingMule
Distributed Energy Enthusiast
Huge week, and next few weeks IMO. The Fed has done a good job of putting a cap on the party and ruining the fun just enough to cool things off. That GDP figure goes a long way toward now slowing down JPow's aggressiveness. .50 in May and then they take a very wait-and-see approach.
The oil plan of the WH is having a huge impact on this "supply shortage" and I really think crude futures get cut in half once Putin is at the table and an end to Ukraine is in sight. Hopefully that and supply chains returning to a more pre-covid posture should unwind a LOT of this "inflation".
Then we rip.....Elon willing. Indeed, no time to be getting fancy with your weeklies.
correct... please do ***NOT*** use my data for trading purposes - i'm a newbie/wannabe/pretend analyst!
i myself won't have IC this week and is cash only on weekends, i don't trust the sp action lately and the feds are speaking again
only daytrading CC for now... closed 5/6 1000 CC at +59% and tomorrow is maybe 5/13 1000 CC
i had STO limit order on 7/15 1250 CC during today's open (for daytrading), still unfilled as of now so i am cancellingFYI, folks should take a look at the options chains for July vs August and later. There is a big step change in prices in the higher strikes ($1400+). Looks to me like the MMs are preparing for the split, but what do I know. Would definitely appreciate thoughts/analysis from the experts: @Artful Dodger @Papafox @adiggs @Chenkers @jeewee3000 @Yoona @dl003
Edit: Thanks @bkp_duke for the advice. I’m only selling such risky CCs right now because I have sold cash-secured puts at 970s, 990s, 1000s, and 1100s (various dates out to Jan 2023). I’m trying to make some premiums on the CCs and will roll up and out as needed, maybe eventually catching or surpassing my CSPs. I’m feeling a bit like the @Max Plaid of old (before he made so much and got conservative).
bkp_duke
Well-Known Member
Just by technicals, S&P at 400, NASDAQ at 12,000, and QQQ at 300 are all considered "critical" support levels.
If those breach, we might see a rapid drop further, due to stop loss orders.
Not advice.
If those breach, we might see a rapid drop further, due to stop loss orders.
Not advice.
With the late bump in the share price to 890 I closed the 750/500 put spreads I had open. 50%ish profits on those - in $4, out $2. Still more to earn but as others, closing open positions and waiting to see what happens with what the Fed does.
Also no calls open, and waiting a day or two for the same reason.
My view on May hasn't changed. With April behind us, and June not yet here, I figure TSLA share price will be dominated by macros this month (Tesla news skimpy - out of sight, out of mind). And I expect the macros to be more bad than good, and thus more likely a drift down than up this month. I'm kind of hoping I'm right about this as I've still got some cash I'd like to spend on shares at a lower price than currently available.
Also no calls open, and waiting a day or two for the same reason.
My view on May hasn't changed. With April behind us, and June not yet here, I figure TSLA share price will be dominated by macros this month (Tesla news skimpy - out of sight, out of mind). And I expect the macros to be more bad than good, and thus more likely a drift down than up this month. I'm kind of hoping I'm right about this as I've still got some cash I'd like to spend on shares at a lower price than currently available.
Guess you are considered a whale if you sell 10 put weekly contracts for TSLA?
10 Consumer Discretionary Stocks Whale Activity In Today's Session
This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
news-static.webullfintech.com
Woot! I always wanted to be a whale! That doesn't even need $1M to back the trade, and even less if that was done as a spread
I guess the 850 strike is pretty aggressive, especially if that was earlier in the day with shares around 870ish
I think May for Tesla is 'buy and stay'... don't go away.
last year was. this year is gonna be even hotter
last year was. this year is gonna be even hotter
Ouch, that post was definitely premature. Oops, that 2% chance means that maybe I’ll get steamrolled this week. Oh, well, will just roll to next week. BTW, big buys at 14:21 today. Hmmmm, so anybody know what the whales know that we don’t? China numbers? Elon got 100% Twitter funding and bought back shares? /s
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