Wiki Selling TSLA Options - Be the House

[jeewee3000]

Didn't stick. Will try again. I find RSI, MACD, and volume bars very helpful.

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You (and @Yoona before you) have pointed to RSI and MACD recently.

Twitter account "DeafDayTrader" (here) used these indicators as well to day trade. Years ago I signed up with him for a brief while and got access to his trades (live) and his "book" (a pdf of around 7 pages) with his day trading technique. It was very poorly written and I couldn't get a grip on how he used these indicators properly.

I did some research on my own, but still I can't seem to understand exactly how RSI+MACD (+volume) is used as signal for entering/exiting trades.

Can anyone ELI5 ? Or maybe point to a good source to learn besides basic explanations of what RSI and MACD is?

Thanks in advance. Everything explained is of course 'not advice' and I am responsable for my own trades etc.

EDIT: DeafDayTrader is no longer active.

 

[jeewee3000]

Sold the 800 06/17 for 5.00. Now I wait to see what happens with the 690 level. I must say it is looking like very strong support.

edit: Not strong lol. this market is nuts

What do you mean '690 is not strong support'? According to my ticker it held up today so far...

 

[vikings123]

What do you mean '690 is not strong support'? According to my ticker it held up today so far...

Sorry I meant TSLA was looking strong given the indexes are down quite a bit. I agree 690 is a key level.

 

[Knightshade]

You guys insisting 690 is holding up well might wanna hit refresh

 

[vikings123]

You guys insisting 690 is holding up well might wanna hit refresh

Or you could look at the timestamps lol.

Anyway we don't have a lot of support until 640 next, not advice.

 

[Drezil]

Or you could look at the timestamps lol.

Anyway we don't have a lot of support until 640 next, not advice.

well... we do have a put wall at 650 that MM would prefer to defend .. and also cover losses on the 700 put wall... but all depends on the macros.
I'm just happy we are not falling with a beta of 2..

 

[scubastevo80]

I had to roll 700/630s this morning to next week for a $30 strike improvement and a small credit. I don’t know what I was thinking standing in front of the inflation train…

 

[corduroy]

STO 6/17 475/-575p for $3.40. First new position in a while.

Since I going to be away from my computer the rest of the day, I also had to roll my -710p down to -680p (for the 6x time ) So your welcome when we close today at $720.

 

[vikings123]

well... we do have a put wall at 650 that MM would prefer to defend .. and also cover losses on the 700 put wall... but all depends on the macros.
I'm just happy we are not falling with a beta of 2..

Not for today for but in general for next week that would be the support I might sell puts or buy calls.

 

[TheTalkingMule]

Put some aggressive BPS roll orders in to close out this week's and move to 6/17 $520/$420 @ $1.35/$1.45/$1.55 increasing the contracts as I go. If they hit, wonderful. It not, I'm sure there's gonna be some other crisis next week!

Now I'm off to clear the grill. Good times.

 

[intelligator]

Was going to wait the end of day for a worthless expire. Instead, the 690cc is now rolled to next weeks 720 strike for another $10 credit. The initial buy write has delivered $34 so far

 

[ninpb]

Closed my bet I made yesterday afternoon hoping for surprise CPI. STO 695/595P for 4.10. BTC 2.30. Exiting Pee-Pee Pants City limits, will return soon.

 

[ReddyLeaf]

Closed out all of next week’s CCs for about 75% profit, but leaving the 735 CSPs. Crazy times. Any surprise that we’re pinning on $700.xx for the close? How long will this bear market last? Unfortunately, it looks like it will be awhile and I will be stuck with my old 2015 70D for a few more years. I haven’t put in an order for a replacement because I need the SP to remain above $1200. Oh well.

 

[samppa]

Closed out all of next week’s CCs for about 75% profit, but leaving the 735 CSPs. Crazy times. Any surprise that we’re pinning on $700.xx for the close? How long will this bear market last? Unfortunately, it looks like it will be awhile and I will be stuck with my old 2015 70D for a few more years. I haven’t put in an order for a replacement because I need the SP to remain above $1200. Oh well.

OT: That might carry some risk.. a friend here has a 2013 S85, where drive unit died, and Tesla claims that while dying it shorted the main pack (pyro didn't blow and contactors stayed closed) and they need to replace both drive unit and pack.. repair quote was 19k€(!). We're looking at possible diy repair now..

 

[mongo]

(Would have been a) Great day to buy near worthless calls at the close and exercise them after hours when Tesla's SEC filing for a share increase to cover a 3:1 split drops...

 

[samppa]

So 3:1 split coming.
Probably a good ratio. AMZN split 20:1 and has since dropped 12%.. (man I'm glad I got scared and got out of my small amzn call position after the split at around zero loss.. should just stick with TSLA).

 

[TheTalkingMule]

AMZN is just a mystery to me. Riding high on Monday at $128 and closes the week below $110. PE is still 53, but these guys could be an earnings behemoth in short order. I guess this is what happens when you become hard to classify and earnings are erratic.

Pretty easy to draw the distinction between AMZN and TSLA. If both maintain today's share price, on July 25th AMZN's PE will have gone from 53 to likely 56 or so. TSLA will likely go from 94 to something below 75.

Here's a crazy thought.......if these two trade flat thru 3Q earnings, their PEs could very well cross!

 

[Yoona]

STO 6/17 475/-575p for $3.40. First new position in a while.

oh i like that

 

[JustMe]

Made lemonade out of the CPI report today. It was clear how the day was going to go so I was pretty aggressive.

5x 730/780 $3.39 -> $1.18
5x 720/770 $4.46 -> $2.39
2x 725/775 $5.28 -> $4.47
5x 735 cc. $2.71 -> $0.10

Best trading day in a while.

Bought a couple of shares and rolled a 7/1 750/550 to 7/1 650/500 with today’s proceeds (for safety).

Have a good weekend, players

 

[Yoona]

Mon/Tue - the AH and pre-market Highs are approximately dictating what is the day's High
Wed - the pre-market High is the Close

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Mon/Tue - the AH and pre-market Highs are approximately dictating what is the day's High
Wed - the pre-market High is the Close (just off by $6)
Thu - the pre-market Low is the Close (just off by $6)
Fri - the pre-market Low is the Close (just off by $1)

the last 3 days would have been perfect for daytrading straddles