Wiki Selling TSLA Options - Be the House

[dl003]

Thank you for taking the time to write this. If you end up being wrong - Beer on me. If you right, someone else has to buy because I won't have any money....

I myself am very confused by the chart. It is too bearish considering the ever improving fundamentals of the company but I guess when you're juggling between flattening delivery waves, Chinese & US EV credits, new factories dragging down margins and inflated commodity prices, everybody is confused. My best advice would be to hedge and deleverage as much as one can, especially going into this FOMC, followed by midterm election & CPI next week. I'll do my best to identify when wave 2 has completed and it is safe to take off the hedges before December FOMO kicks in.

 

[ammulder]

Theres that rumor that China is letting go of zero Covid… between that and the Fed winding down increases there’s the possibility of a double shot of good news. I mean, a possibility. Could still come to nothing.

 

[dl003]

Be careful at the open. If I'm right they'll dump the entire market the whole day.

 

[juanmedina]

I was hoping to see $240 to sell some shares that I have on margin from exercised puts

 

[phantasms]

Traded some 252.5 calls real quick this morning while watching the launch. Sold at $1.05, bought back at $0.56 six minutes later.

 

[dl003]

am very pleased with TSLA's outperformance today. Market dumping but baby is strong as heck.

 

[john tanglewoo]

Are we still in call selling territory? What's the short term outlook on stock movement? Feel like the past couple weeks have been extremely difficult to predict. There is no consistency but it has stayed in the 200-240 range I suppose.

 

[dl003]

I'd wait for SPY to bounce back up to 388 before selling new calls.

 

[Yoona]

sp decided to cross down yesterday's Hi 229.85 4 times and is still not giving up

5 and 10 EMA acting as ceiling since 955am

fib lines are so tidy, one would think bots are running the show

at today's fib 38% retrace, this was a quick $3000 profit for every 1000 shares

 

[phantasms]

sp decided to cross down yesterday's Hi 229.85 4 times and is still not giving up

5 and 10 EMA acting as ceiling since 955am

fib lines are so tidy, one would think bots are running the show

at today's fib 38% retrace, this was a quick $3000 profit for every 1000 shares

If you don't mind and have a moment, can you please explain to me [like I'm 5] how to do this? At what point in the day do you have enough information to lay the fib down on top of the current chart? How far back on the charts are you going? I believe in this and would also like to use it to day trade options/shares. I use ToS as well. Thank you!

 

[Yoona]

If you don't mind and have a moment, can you please explain to me [like I'm 5] how to do this? At what point in the day do you have enough information to lay the fib down on top of the current chart? How far back on the charts are you going? I believe in this and would also like to use it to day trade options/shares. I use ToS as well. Thank you!

i only use today's chart and yesterday's chart; i start drawing when i think MMD is almost done

sometimes i use the 5-min frame, sometimes 15-min; i use whatever will give me a cleaner view (ie candlesticks within the lines)

1-min is useless (too much noise)

the reason why i wait for MMD completion is to find the morning's lowest point so that i can buy shares, then sell them when sp went up to the 38 or 50 or 61 fibs, or when i think income is good enough for the morning

after buying the shares, set up a rolling sell stop limit for protection downside

if i forget to do the stop limit and sp kept falling, that's ok - i can always open a buy-write (best to do this once sp climbs again; this is called "Leg-In B/W")

for yesterday's chart: i only care for the Hi/Lo and that will be my 0% and 100%; my theory is that they will help as today's res/supp; these lines aren't necessary but nice to have... as of 12:05pm, sp=229.45 is hovering near yesterday Hi 229.85; perhaps that's the MMD bottom

for today's chart, i plot 2 fib sets; 1) today's Hi/Lo 2) the MMD Hi/Lo

this is how it's done:

i had 2 sets of fibs

the 1st set was today's Hi-Lo; i automated that so i don't have to adjust the 2 edges (0%, 100%) throughout the day:

Auto Fib (Fibonacci) Levels Indicator for ThinkorSwim - useThinkScript Community

Fibonacci retracements use horizontal lines to indicate areas of support or resistance at the key Fibonacci levels before it continues in the original direction. These levels are created by drawing a trendline between two extreme points and then dividing the vertical distance by the key...

usethinkscript.com

the 2nd set was manually plotted from 228.98 to 221.94 MMD as anchor points (this was the first long directional move of the day that had momentum/force)

i forgot to add a 3rd set, and this is the previous day's Hi/Lo; the 0% or 100% may act as today's res/supp

complete playlist (just lesson 1 alone is already an eye-opener):

https://www.youtube.com/playlist?list=PLFAKby4qxtHVXUxudppWUtGrsqHZZiRV_

 

[intelligator]

A mid-day snapshot of options volume where contracts > 500 .... call put ratio is interesting , you may see more in this.

 

[phantasms]

i only use today's chart and yesterday's chart; i start drawing when i think MMD is almost done

sometimes i use the 5-min frame, sometimes 15-min; i use whatever will give me a cleaner view (ie candlesticks within the lines)

1-min is useless (too much noise)

the reason why i wait for MMD completion is to find the morning's lowest point so that i can buy shares, then sell them when sp went up to the 38 or 50 or 61 fibs, or when i think income is good enough for the morning

after buying the shares, set up a rolling sell stop limit for protection downside

if i forget to do the stop limit and sp kept falling, that's ok - i can always open a buy-write (best to do this once sp climbs again; this is called "Leg-In B/W")

for yesterday's chart: i only care for the Hi/Lo and that will be my 0% and 100%; my theory is that they will help as today's res/supp; these lines aren't necessary but nice to have... as of 12:05pm, sp=229.45 is hovering near yesterday Hi 229.85; perhaps that's the MMD bottom

for today's chart, i plot 2 fib sets; 1) today's Hi/Lo 2) the MMD Hi/Lo

this is how it's done:

Amazing. Thank you so much for this.

I'm only at about $15k in cash in my trading account. I might need break the glass on the "$50k Roadster Deposit" emergency fund so I can participate in the buy-write. lol

 

[ReddyLeaf]

Massive 11/18 (monthly) put volumes today (235/240). Thoughts? Protection? BPS? Unfortunately, this makes me think the SP will drop, probably induced by FMOC news. FYI, I finally had enough of the main investor thread. Even blocking a bunch of people didn’t help. Please help keep this thread on topic. With today’s jump above $230 and slow decay back, in my small account I decided to roll 11/04 -c225 to 11/18 -c235 for $0.50 credit, and pair that with 11/11 -c240s rolled to 11/18 -c237.50s for $3 cr. Still need to let one CC exercise and convert to a put, but apparently not this week. Oh well. In my larger accounts, I decided no trading was needed (11/18 -240 straddles) because everything is decaying nicely.

 

[elasalle]

bought some Fri 200 PUTS for .20c ..because FOMC
macros tank ... MM will hit TSLA hard
all clear & we get EOY rally ....

(+interestingly, VIX still at 25, I think the big boys are betting on Fed being dovish and did not buy enough PUTS )... so just maybe, market is set up to rip to EOY rally tomorrow.

 

[mb300sd]

Another flat day...

I'm going to close all my positions tomorrow morning prior to FOMC (TSLA CSP+CC and several other CSPs), hoping for a little more theta overnight.

Probably going to use the profits to buy some puts in the morning as well.

 

[cbh03]

Today is the first time I ever bought puts that weren't part of a BPS. Pretty much guarantees that SP rises tomorrow (or at least that I mis-time selling those puts )

 

[BornToFly]

Frustrating day. TSLA could have ripped if the rest of the market had held up. Oh well, maybe after the Fed meeting tomorrow....

 

[Yoona]

does anyone subscribe to TradingView? if yes, can you pls check the OPEN price of the 2pm and 230pm candlesticks?

date=Jan 27, 2022 (1st FOMC of 2022)

15-min or 30-min time scale

thanks

 

[mb300sd]

does anyone subscribe to TradingView? if yes, can you pls check the OPEN price of the 2pm and 230pm candlesticks?

date=Jan 27, 2022 (1st FOMC of 2022)

15-min or 30-min time scale

thanks

EDIT: these are the Jan 27 ones, posted todays at first.

2:00 285.78
2:30 283.83