If I wire you 200k, can you make more than the lawyer that wants to daytrare my money and give me 3% monthly?
Just sayin, looks like every trade you do turns into gold.
-
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 I wire you 200k, can you make more than the lawyer that wants to daytrare my money and give me 3% monthly?
Just sayin, looks like every trade you do turns into gold.
I for one really appreciate the various technical analysis and other short term views on the market in general, and TSLA in particular. There are more than I'm going to follow myself and I doubt I'll take any of them as the source of my own decisions. But its all stuff to throw in the stew from which my decisions do come - I appreciate the assist, helping me fund my retirement 
Honestly, timing the market like that multiple times is a tough job.
Nobody knows how many iterations it takes to reach the bottom. Does capitulation happen now or next time. If you act early you may get screwed. ES has his targets of best case 10k, worst case 7k. I’m sure he’ll act @ ~10k, last drop I believe it was 11.1k.
I like that WifeyAlpha also tells his followers not to be greedy and focus on preservation- that this volatility is a risky time to act. There’s pinned portfolio there that performs well in this bear market, supposedly, but I haven’t looked into it, not interested.
Anyway, I think with these major moves of $100-200, playing short term may actually lock up your money at the wrong time and cause you to bypass larger profits.
Happened to me at 620. I had a bunch of 2024 calls sold and opened 580 put spreads sold for that week using the cash from calls as leverage. As SP dropped from 700+ to 620 my spreads went deep into losses, I collected like $2/contract and they became like $13 or $20, I forgot.
My buying power crashed. This was the time to close some of my 2024 calls, I could have made 20-30/contract extra on those. Instead, the margin was locked up by the stupid spreads, I had to sit and wait for those puts to expire and SP to go back up.
The moral of the story is I think it might be better to sit and wait for a large move than to act on smaller ones, depending on what you’re doing, of course.
scubastevo80
Member
Sold 835/905 BCS for 6/2 a short while ago for $2.2 after we seemed to struggle with the $790 mark. This is a bet that we won't rise another 5% by EOD tomorrow, but I'm going to look to get out of this for some quick money. I stood in front of the freight train last week and got run over, so I'm going to avoid that this week.
john tanglewoo
2012 Roadster Owner
Took 73% profit on my July 15 500 sold Puts. I'm still way upside down since I rolled those from June 690, so now time to start clawing back.
Just sold 5 calls at July 15 930 and got just over $20 for them. 900 seems like a pretty firm level for TSLA based on all the moving averages, and unless macro conditions improve I don't see us going over there anytime soon. But with a stock like this who knows!?
Just sold 5 calls at July 15 930 and got just over $20 for them. 900 seems like a pretty firm level for TSLA based on all the moving averages, and unless macro conditions improve I don't see us going over there anytime soon. But with a stock like this who knows!?
Knightshade
Well-Known Member
BTW anyone have any thoughts on doing something with some +350/-750 put spreads for October? These were much nearer expiration 950 short strikes once upon a time that got rolled down and out for credit on the way down, and are finally OTM on the short end but still have a fair bit of time value... wouldn't mind getting the locked up $ back sooner to put to some use if anyone has any interesting ideas?
Not advice -
You can roll it in for the difference in time value vs. strike.
The $350's are only about $10 each but the $750's are around $110 each -
So you could roll it in and up to July 07/01's at the $850 strike for about even money.
However that is starting them off ITM and if we drop, you end up rolling back out.
Or stay with the $750/$350 but double the contracts to get the same value.
Now now, to be fair, Cory, from The Stocks Channel, definitely said it might go up, or down or sideways - credit where it's due!
Last edited:
jeewee3000
Active Member
So yeah, I got run over today with my 800ccs.
But I haven't closed or rolled them (yet). Odds are decent we finish the trading week tomorrow below 800.
As I DCA'd the writing of the cc's, I'm not in terrible shape. Just slightly terrible. Curious about tomorrows price action, that's for sure.
But I haven't closed or rolled them (yet). Odds are decent we finish the trading week tomorrow below 800.
As I DCA'd the writing of the cc's, I'm not in terrible shape. Just slightly terrible. Curious about tomorrows price action, that's for sure.
I think so too. FWIW, There’s a pretty substantial call wall at $800 as of this morning and I expect it grew considerably today.
Unless something changes with the macro overnight I’m expecting a gap up and run above 800. That’s just my read.
It could end up closing below 800 but I also think we might see a repeat of last Friday’s action.
Last Friday I could have rolled my 750CC to 810 for this week for even credit, but I was too scared we would run past 810 and the $7 would grow to $40+. Tuesday I looked like a genius. Yesterday it was looking like I made a HUGE mistake by not rolling up and I had thrown good money away for nothing. Now I'm not so sure. This stock is so volatile in either direction now that staying as far as possible from the SP is the best way to go. One wrong guess can wipe away weeks or months of premiums earned. Good luck.
dc_h
Active Member
I rolled 760 to 820 last week. Interesting days. I’m thinking I shouldn’t think to he’s, do good math and chill out. Sounds dangerous. I’ll report back next week.
That’s my guess, too. Same reasoning as last week - market makers want our shares for the ride back up and don’t like to let retail call sellers off the hook too easily. Even if we don’t hold 800 I think they’ll at least try to scare people into covering/rolling.
I have an 800 CC for this week covered by an 800c for next week (calendar spread) that I hope to close out tomorrow, if the stock price cooperates.
Cory is already right, Tesla has been trading sideways for 1 year now. Just between $600 and $1200 repeatedly.
“hey it’s Cory from the stock channel, let’s crack open this chart. So if it goes down we need to watch the next leg lower at this critical support level and if it goes higher we need to look at this critical resistance level »
I’m getting good at technical trading. The stock does whatever opposite of what is logical and then you say you called it by predicting both sides.
I’m still learning the wifeyspeak and it’s not in the dictionary
Also, don’t know how to look up $ES but I understand it’s SPX futures, so if SPX is up $76 today and futures goes up $90 (at least intraday) tomorrow, that sounds like a greener day than today to me.
Similar threads
