Or buy back to take profit...
amazing how much movement occurs pre-market and the hour into open
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
amazing how much movement occurs pre-market and the hour into open
SebastienBonny
Member
Just closed my 10/21 250 CC (sold last week on monday for 3.07) for 0.82 on the dip.
Needed the SP to go just red to trigger the order.
Can sit back for earnings tomorrow to (hopefully) sell a (much) higher strike for next week on thursday.
Needed the SP to go just red to trigger the order.
Can sit back for earnings tomorrow to (hopefully) sell a (much) higher strike for next week on thursday.
If we stay below 226 for the rest of the day, theta will let me exit those CCs for a slight profit. I'm getting out before earnings, these are long term shares and I don't want the tax implications.
The morning through 1130AM view of options volume where contracts > 500
dc_h
Active Member
But if it does, the stock goes straight to 30. What is the risk reward? Downside seems to be about $2500 per contract.
I haven't seen anything definitive that Elon is done selling TSLA. There was his tweet about Deux X Machina, which some postulated as him having funding secured, but nothing definitive.
Also, I have to think TSLA SP would jump if it was confirmed that he is done selling TSLA.
Another look at the option flows where contracts > 500 , we ended the day with more calls than puts. Will be curious to see if we are positive from a gamma exposure perspective as well. Yesterday, we were -0.04...
Here's the gamma exposure chart flipping us the bird the spaces are due to no strikes.
Here's the gamma exposure chart flipping us the bird
the spaces are due to no strikes.
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Netflix did good... So far we have not seen the so called earnings recession that some people have been talking about.
Frustrating trading day today. I recently had to sell 20,000 shares. I wanted to buy 5,000 back. I was using RSI and MACD. Three times I bought the shares as the SP was rising, and then sold them again on stop loss orders as the SP came back down. The last attempt was at SP 220.76. Bought them back at 221 in the last 90 minutes of trading. I didn't want to go into tomorrow holding them in case the market dropped. Now with Netflix reporting good earning, and Tesla up AH, I probably could have held them. I might try again tomorrow, but I am nervous about a TSLA drop on Thursday regardless of how good the ER is. If the SP drops below 220 I will want the cash for margin.
Because it's not free?wait, i am confused... why not BTO +c220?
if sp<220, the "I am nervous about a TSLA drop" problem is fixed - you already sold the 5k shares
if sp>220, the "I wanted to buy 5,000 back" problem is fixed
I think because of the High IV it'll cost him some premium. Which means if he does want back in on those 5000 shares he needs to wait for an even lower price to break even/cover what he paid for the contracts.wait, i am confused... why not BTO +c220?
if sp<220, the "I am nervous about a TSLA drop" problem is fixed - you already sold the 5k shares
if sp>220, the "I wanted to buy 5,000 back" problem is fixed
The next few days will be interesting. Earnings is uncertain but general consensus on the board is a beat but then Elon may dump after earnings. So the upside risk may be limited while the downside risk is large (earnings miss and/or Elon selling). Kind of feels bad. Hopefully the bears and FUD spreaders (demand problems, Elon needs to sell, earnings miss) are wrong.
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