Wiki Selling TSLA Options - Be the House

[adiggs]

not-advice (really, really)

Picking up on an earlier post I made about the Ukraine war impact on our share price, with the steady drumbeat of what I consider to be good news, I'm now thinking that an "end is in sight" relief rally may kick off on Monday.

Investors and markets are future looking, pricing in the future before it happens. The more mainstream news that I've seen has switched so quickly to (reading between the lines) being oveR -- that removes a pretty significant source of negative macro news and pressure.


The core of this observation amounts to: the start of the Ukraine war was a serious instability and source of macro pressure, helped drive the share price down. The (pricing in the future view) suggests the relief of that pressure will make room for the shares to go up.


I still have no idea how I'm going to trade around this, except that I'm glad that I'm more uncovered than not. No plans to buy calls right now, but its percolating in the back of my mind.

 

[Max Plaid]

not-advice (really, really)

Picking up on an earlier post I made about the Ukraine war impact on our share price, with the steady drumbeat of what I consider to be good news, I'm now thinking that an "end is in sight" relief rally may kick off on Monday.

Investors and markets are future looking, pricing in the future before it happens. The more mainstream news that I've seen has switched so quickly to (reading between the lines) being oveR -- that removes a pretty significant source of negative macro news and pressure.


The core of this observation amounts to: the start of the Ukraine war was a serious instability and source of macro pressure, helped drive the share price down. The (pricing in the future view) suggests the relief of that pressure will make room for the shares to go up.


I still have no idea how I'm going to trade around this, except that I'm glad that I'm more uncovered than not. No plans to buy calls right now, but its percolating in the back of my mind.

I see a risk that the mad-dog cornered becomes more unpredictable and irrational. Here's hoping the some Russians grow some balls and deal with Putin sooner rather than later

 

[bkp_duke]

I see Jan 2025 strikes listed in IBKR app, guess soon they'll be tradable?

I saw these Friday in Fidelity, but could not trade them that day.

 

[traxila]

I saw these Friday in Fidelity, but could not trade them that day.

I recall posted in TMC that September 12th is the drop date, so this makes sense.

 

[TheTalkingMule]

I see a risk that the mad-dog cornered becomes more unpredictable and irrational. Here's hoping the some Russians grow some balls and deal with Putin sooner rather than later

That's my worry. Would be a huge help if and when donestic I rest becomes a major headache for Putin.

I see the center of Moscow is locked down for now, but will people stay off the streets much longer?

 

[elasalle]

Preemptive strike,
I rolled my $308 for this Fri, for Oct 21st, 340-350 and got ~ 100 shares with proceeds. (Loss for today, but still OPM - Other People Money trade and I got 100 more shares )
$340/350 will likely give me a better exercise pt for my leaps at 300 and also IV should keep creeping up.
(i'm not good in this weekly game )

(+exercise still an option, but if can manage to roll all the way till like Jan 23 , i.e Q4 results will be even better. SP rise is violent and can't be managed, let it exercise with capped gains and watch from sidelines OR Roll can be managed, will try to keep rolling -- underlying leap price will keep improving )

(+CPI tomorrow is a binary event, flip of coin)

 

[strago13]

STO 9/16 292.5 CSP's on open for 3.1

 

[BornToFly]

Crazy. Put order in for BCS -350/+400 for just .1, and still not filled after SP climbs to 305. I'm not even sure 350 is safe for Friday if CPI numbers are good Wednesday....

 

[BornToFly]

STO 9/16 292.5 CSP's on open for 3.1

I sold 9/16 300 strike CSP for $5.64 at the open.

 

[Drezil]

and rolled my few -300c to -305c as we hit 305 .. (out a week, up 5. this time for a small debit (0.2 or so)).

if we continue they will soon(tm) reach the dec +300c ..

but that position gives more theta than the 300c cost, has similar delta and will always be around ATM (or OTM if the SP drops - but then i can still cash out ... that what protection that pays you is for )

edit: i also have 300c for next week and a -310c against it on "trail 10%". That thing currently is @7.4, the trail is at 6.71 - both above the 5.85 for the long calls.
Will see if this fires on a downturn & if i close it then or just ride the theta.

 

[CHGolferJim]

Did some pedestrian rolls this AM for $6k credit:

* 9/30-c$315 to 11/18-c$360 (back to cost basis on an old buy-write; still holding a few of the latter hoping for expiration)
* Jan’23-c$300 to Mar’23-c$320
* Mar’23-c$300 to Apr’23-c$308.33

The steamroller is getting kinda close and kinda loud.

 

[scubastevo80]

I'm holding for a bit more jump in share price and looking to write some covered calls out 2-3 weeks out. If we get a bounce upward on Wednesday I'll definitely be writing something.

 

[intelligator]

I sold 9/16 300 strike CSP for $5.64 at the open.

Looks like the -290cc for Sep 16 will get filled. To replace shares and snag credit, I sold Sep 16 -305CSP for $6.25 just before the dip below 304.

 

[Drezil]

and rolled my few -300c to -305c as we hit 305 .. (out a week, up 5. this time for a small debit (0.2 or so)).

if we continue they will soon(tm) reach the dec +300c ..

but that position gives more theta than the 300c cost, has similar delta and will always be around ATM (or OTM if the SP drops - but then i can still cash out ... that what protection that pays you is for )

edit: i also have 300c for next week and a -310c against it on "trail 10%". That thing currently is @7.4, the trail is at 6.71 - both above the 5.85 for the long calls.
Will see if this fires on a downturn & if i close it then or just ride the theta.

trail hit at 6.70 on the small downtrend. I wanted to cover that position in fear of bad CPI-Reaction tomorrows anyways.

Also rolled the 280p->285p on my sep 23 305/280 BPS for 1 buck, have another order set up to roll up 285->290 as well.
I got hit very hard with sudden SP drops for no reason (or some macro events) so that i am much more careful now.

This was originally created as an 300/280 BPS slight before the split (and the successive dump forced me to roll/widen it).

 

[dc_h]

trail hit at 6.70 on the small downtrend. I wanted to cover that position in fear of bad CPI-Reaction tomorrows anyways.

Also rolled the 280p->285p on my sep 23 305/280 BPS for 1 buck, have another order set up to roll up 285->290 as well.
I got hit very hard with sudden SP drops for no reason (or some macro events) so that i am much more careful now.

This was originally created as an 300/280 BPS slight before the split (and the successive dump forced me to roll/widen it).

I'm confused, you sold or rolled into 305/280 BPS for 9/23? That seems really aggressive. I have naked calls and puts at 300, but cash trades and am ok buying or selling at 300 based on the credit. A BPS spread though can turn into a full loss if some force majeure hits. I may be misunderstanding, but curious on your thought process.
My 300 puts are rolls from 290. I would prefer to take delivery, so I'm going for more premium. If we go up, I at least made more on the naked puts.

 

[Drezil]

I'm confused, you sold or rolled into 305/280 BPS for 9/23? That seems really aggressive. I have naked calls and puts at 300, but cash trades and am ok buying or selling at 300 based on the credit. A BPS spread though can turn into a full loss if some force majeure hits. I may be misunderstanding, but curious on your thought process.
My 300 puts are rolls from 290. I would prefer to take delivery, so I'm going for more premium. If we go up, I at least made more on the naked puts.

yup. they were to aggressive .. as i have been too aggressive on the split.. I thought that worst-case i had that friday to close them .. but we opened up hard negative there & i chose to roll instead of close them for a loss pushing the can further down the road.

They are still very aggressive and that is why i try to reduce max-loss whenever possible (i.e. the 280->285 roll and the 285->290 roll for 1 buck each - reducing max-loss from original 25 to 20 currently and 15 soon (if we spike a bit higher like 307)).

 

[dc_h]

yup. they were to aggressive .. as i have been too aggressive on the split.. I thought that worst-case i had that friday to close them .. but we opened up hard negative there & i chose to roll instead of close them for a loss pushing the can further down the road.

They are still very aggressive and that is why i try to reduce max-loss whenever possible (i.e. the 280->285 roll and the 285->290 roll for 1 buck each - reducing max-loss from original 25 to 20 currently and 15 soon (if we spike a bit higher like 307)).

Good luck. I got hit hard during the Hertz up, twitter down roller coaster last fall. Keep an open mind, as many here have shown, there's often a way out if you can be calm and patient.

 

[adiggs]

Did some pedestrian rolls this AM for $6k credit:

* 9/30-c$315 to 11/18-c$360 (back to cost basis on an old buy-write; still holding a few of the latter hoping for expiration)
* Jan’23-c$300 to Mar’23-c$320
* Mar’23-c$300 to Apr’23-c$308.33

The steamroller is getting kinda close and kinda loud.

It seems like you're working the monthlies primarily (or exclusively) rather than the weekly game that many (including me) are doing. Can you describe your system / trading rules / philosophy? I'd like to learn more about how you're doing things.

I've recently figured out how to bring some additional money into how I'm doing things. I am using it to lower risk / effort / energy / emotions around the different positions. I've always liked the idea of trading on monthlies, or at least multiple week positions, over weeklies as a mechanism for lowering my effort level and need/desire to keep an eye on things day to day; if you've been working in this space already, I'd sure like whatever kick start you can provide!

 

[UltradoomY]

As mentioned over the weekend and the main thread - January 2025's started trading today!

2.3 years or 859 days till expiration!

Go get em'

(not advice)

 

[jeewee3000]

This week I'm playing a good 'ol strangle: -300csp's vs -305cc's.

One will expire worthless. With a lotta luck both do. But I'm not counting on it.