-
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
Knightshade
Well-Known Member
gamma exposure remains slightly positive, a strong shift to the left occurred, weakening the 230-240 call lines. After two days of momentum up, split decision with dow+ and s&p- pre market, AMZN influence or not, max-pain the same as, 220 looks highly probable. Not knowing what next week will bring, I'll be looking for the MMD to buy back and lock in some profit on far dated calls, reset next week once we have a better pulse.
We made a short term high today. Market condition didn't permit 240. Note a very strong rejection daily candle. This type of candle has marked EVERY short term high in 2022. Next stop is a consolidation phase with a low ranging from 207-217. I'm leaning toward 207. Then we'll see what the market looks like after the mid term election. Yesterday we parked below 20 & 50 SMA on mass call inflow. Today we gapped up & made a high before quickly giving up all the gain. That's a classic setup leading to strong pullbacks.
AquaY
Member
I’d be satisfied if he don’t drop any lower than 207.
There are a lot of things happening. PCE tomorrow, Fed on 11/2. Bad news could take us easily below 200
There are a lot of things happening. PCE tomorrow, Fed on 11/2. Bad news could take us easily below 200
Pretty quiet around here today... was that Elon selling that we witnessed earlier? Looked pretty relentless and against the indexes, etc.
Good for me, I was undecided what to do with my -c220's, use the dip to buy them back and have set a sell order for 11/11, so a delayed-roll in effect
Now Hedgies capping like hell to keep it around the MP 220
Good for me, I was undecided what to do with my -c220's, use the dip to buy them back and have set a sell order for 11/11, so a delayed-roll in effect
Now Hedgies capping like hell to keep it around the MP 220
$225 seems to be the big target for now. You can see the stock get shorted down aggressively any time it dares go near $224, even when macro is still climbing. At $220 the calls just outnumber the puts, with $225 being the first clear call wall. Most of the call options volume has been focussed around the $225 and $230 calls. $230 is the first big call wall and I'd expect that would be the fall back if volume picks up in the afternoon.
The good news is that max pain and call walls step up a bit next week so the shackles may get released again on Monday.
Update on my AMZN calls:
Not what I expected based on AH yesterday.
Have sold 40% and still in the green on position but sheesh, if this had been TSLA, fuggedaboutit.
Funny, must be because so many more institutions are involved. AMZN needs a proper crushing, but it not getting it.
No complaints.
Shows you how hard this buying options stuff can be. Could have sold these instead and I would still be hanging in there. It an MMs world for sure.
Not what I expected based on AH yesterday.
Have sold 40% and still in the green on position but sheesh, if this had been TSLA, fuggedaboutit.
Funny, must be because so many more institutions are involved. AMZN needs a proper crushing, but it not getting it.
No complaints.
Shows you how hard this buying options stuff can be. Could have sold these instead and I would still be hanging in there. It an MMs world for sure.
imma thinking of daytrading the stock directly, instead of weekly options (is anyone else doing this?)
why? coz i'm
that TSLA is obviously being manipulated - it's not a level playing field
i also know that MMD and algobots are somewhat predictable touching fib lines, so why not use that to my advantage? (ie follow smart money)
for ex, yesterday's true range was -6.92 below Open to 4.04 above Open = 11
if i can just get 1/day out of that 11, that's 5/wk (ie 5 options premium) and no daily overnight positions open, hmmmm
of course, HODL is "better"... but i am a trader, not an investor
this guy is raking it in daytrading on fibs:
why? coz i'm
that TSLA is obviously being manipulated - it's not a level playing fieldi also know that MMD and algobots are somewhat predictable touching fib lines, so why not use that to my advantage? (ie follow smart money)
for ex, yesterday's true range was -6.92 below Open to 4.04 above Open = 11
if i can just get 1/day out of that 11, that's 5/wk (ie 5 options premium) and no daily overnight positions open, hmmmm
of course, HODL is "better"... but i am a trader, not an investor
this guy is raking it in daytrading on fibs:
Yeah it's crazy how bad the IV crush is on these is but we also then have Hertz and 20% Bear Market runs that spook you when you want to sell these calls/puts. It's a well designed rigged game for sure lol.
I made some money buying puts and calls this week and required a lot of discipline, not sure if it's worth it. Actually I'm pretty sure it isn't.
Thoughts for next week? I'm thinking of selling some calls as the ones this week worked out well.
I agree and @dl003 talks about the consolidation phase forming or formed taking us lower next week possibly.
Calls at $230 seem safe for next week is my thought.
Only risk I can see is that the FED decides 0.75 is too much and throws us a 0.50 and remarks are more dovish.
If that is the case (since 0.75 is baked in) there will be Green on the streets.
Similar threads
