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Wiki Selling TSLA Options - Be the House

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Will we be stuck in this new trading range of 750-1250 for the next 5 years?

I know, it's ludicrous.
TWTWYTT (that's what they want you to think)

Sure, it's totally safe to go ahead and sell as many close in BPS as you like and certainly $900-1100 CC's will be safe as could be!

They're gonna push this down as hard as they can and then let it rip to crush all the CC sellers and steal their shares.

In for 5/20 BPS $580/$480 @ $2.45
 
We’re not breaking $750 today:eek:. Seriously? Damn, yes, my single share buy at $748.89 just hit. Sure glad I rolled down my -c865s this AM near the peak to -c820s. This is crazy. Where’s the bottom? surely it won’t close below that 750 put wall. Right?🤷‍♂️

Edit: So 10% drop today is what? 720? Put in your buy orders for $721.xx. Good luck to all.
 
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I'd take that range. I'm just hoping it's not 500-900.
I take that range as well. $1100 would make me happy. I traded some shares for 2x Jun 24 $500 calls
I'd certainly take that range over the next year at this point. But five years from now? $1,250 is ~65% higher than where we are right now. I can't imagine the SP that low in 5 years.
 
Any advice not advice on margin management strategies? I have a small number of contracts expiring in June 2024. I have to make it until June 15th when I have a large infusion of capital that could resolve this issue. As of this writing I think I am still good down to ~625 before things get hairy.

1) I can roll the existing contracts from 970->1070 and close out another contract, but that is it unless I roll up to like 1200.
2) I can buy weekly *sugar* puts
3) ????

Thanks in advance
 
Any advice not advice on margin management strategies? I have a small number of contracts expiring in June 2024. I have to make it until June 15th when I have a large infusion of capital that could resolve this issue. As of this writing I think I am still good down to ~625 before things get hairy.

1) I can roll the existing contracts from 970->1070 and close out another contract, but that is it unless I roll up to like 1200.
2) I can buy weekly *sugar* puts
3) ????

Thanks in advance
Try to make some $0 cost Risk Reversal contracts ?
I started playing with them yesterday just to milk the bear market and noticed they added significant margin buffer to my account.
So, just enter a pairs of contracts: sell Call SP+Delta, also buy Put for same price (around SP-Delta).
If SP keeps dropping these become more valuable, of course if you close them to take profit, then you lose the margin protection they provide.

ps: the risk you take is that if there is a sudden rebound, the call leg may become ITM and your shares maybe called away, so don't pick too long expiry and use sufficient Delta to make the risk acceptable.
 
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how is it possible that someone can get realtime MP value?

1652294307574.png
 
RE: MaxPain next week is unusual because it’s a monthly and we’ve had such a precipitous drop since many of those contracts were traded. Yes, there’s a bunch of puts higher than 750, but that’s to be expected. Wait until traders exit this week and start putting in for next and you will probably see MP drop appropriately.

On another note, with today’s muted reaction to the CPI, this AM bought back my -c865s ($3 gain), sold my protective +850s ($2 loss) and rolled down selling-c820s at $15. Once again, as a hedge for some bounce tomorrow, I bought +c800s at $2.20 right before the close. This creates another call credit spread and effectively locks in about $13 profit on the -c820s with no risk going forward. Hopefully that’s it for this week, and I don’t get greedy and try another trade set tomorrow. I’ll let everyone know how it works out after Friday close.
 
I was an idiot and kept bps open after Elon announced his Twitter purchase. After 2 days of pain and no clear picture what’s going on, I had to stop the bleeding and sell 200 shares to pay for losses on 20 bps. Duh, that was Elon selling.

I also sold 2024 1600ccs @165 at sp 880 at that time as a hedge and closed -2 2023 1000 puts worth 50k in preparation for what is happening now to lower my exposure.

The rest of my puts are 2024(15 1100s) and too expensive to buy out. Also previously rolled a bunch of underwater bps since the Elons option related selling to July, Dec 2022 and half to 2024.

Today closed some of those 1600 CCs @110 and bought my 200 shares back. 2 puts are paid for and about 30k left from trades.

Still hold 30 of those CCs that gave me 500k cash, which I plan to hold through this madness and hoping this will save me from margin calls. Will prob buy them back when we recover to 850 or ES2 gives an all clear ;) Not planning to make money on them.

I would be in a much worse shape rn if not for ES2
 
I was an idiot and kept bps open after Elon announced his Twitter purchase. After 2 days of pain and no clear picture what’s going on, I had to stop the bleeding and sell 200 shares to pay for losses on 20 bps. Duh, that was Elon selling.

I also sold 2024 1600ccs @165 at sp 880 at that time as a hedge and closed -2 2023 1000 puts worth 50k in preparation for what is happening now to lower my exposure.

The rest of my puts are 2024(15 1100s) and too expensive to buy out. Also previously rolled a bunch of underwater bps since the Elons option related selling to July, Dec 2022 and half to 2024.

Today closed some of those 1600 CCs @110 and bought my 200 shares back. 2 puts are paid for and about 30k left from trades.

Still hold 30 of those CCs that gave me 500k cash, which I plan to hold through this madness and hoping this will save me from margin calls. Will prob buy them back when we recover to 850 or ES2 gives an all clear ;) Not planning to make money on them.

I would be in a much worse shape rn if not for ES2
ES2?