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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
I rolled my
-TSLA230915P350
To the end of eternity, Jan2025
You know nothing, Jon Snow.
However @dl003 still knows a lot more than us!
I sold CCs for 0.50 Tuesday last week for 190 rolled to 202.50 2 weeks out for 0.85 credit
Closed for 0.70 today when they were +85%
Decided not to be greedy
1,35 credit cashed, bought back at 0.70
They once were at $5.50
I half-salvaged this deep losing position at some point.
Will wait for the next deep green day to sell new CCs. Will see what John Snow has for us.
Ortho - isnt that put on the verge of being assigned? looks those are selling for roughly $180 which means zero extrinsic value at roughly170?
Edit: thinking about it more it's really close - technically the SP is a $3-4 from being where there would be no time value left...
Edit2: looking at the Sep2023, i see it was at risk of being assigned today. So going to 2025 helps, but not much
a bit surprising (to me at least)- for very DITM PUTs, even Jan 2025 is not "safe" depending on how far the SP gets pushed down
Edit: thinking about it more it's really close - technically the SP is a $3-4 from being where there would be no time value left...
Edit2: looking at the Sep2023, i see it was at risk of being assigned today. So going to 2025 helps, but not much
a bit surprising (to me at least)- for very DITM PUTs, even Jan 2025 is not "safe" depending on how far the SP gets pushed down
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Since the 12/2 -200c expired worthless, 12/9 -200c and 12/16 -210c are looking pretty good, I'm going to kick off the christmas rally into next year by pre-opening their replacement positions. I usually make the worst trades, so could bounce anytime now and my -175c will get DITM soon. You are welcome.
STO 1/20/2023 -175c for $14.65, SP around $172.8
Positions: 12/9 -200c, 12/16 -210c, 1/20/2023 -175c
I know, I bought back at $177 and sold the new one at $182 I have been going through the assignment-o-rama lately. I will just seem those shares again and sell the same out again and again until we recover. My average share price will probably be 350 by the time we recover.
Oh well
In the mean time I am working and accumulating the money to buy all these shares for ever.
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At 172, you should be better than 85% I'd imagine. I closed mine at 75% thinking that I'd avoid having to action later just to earn a few more points... but that's what I chose to do to lock in gains.
Bank of Canada hiked interest rates again by 0.5%, the interest rate is getting ridiculous on some of my lines (almost 10%). Decided instead of just buying time selling CCs to pay for margin interest and just tread water (and more work to file taxes), just sold some additional chairs to raise cash at $172.31. Now I'm margin safe to $43/share, and if I inject outside lines can ride it to $0/share. Guess I will have fun stay poor with the permanent chair losses if I don't manage to buy them back somehow. It's really hard to sell CC and make 30% annually (margin interest + capital gain taxes) so this sucks but I'm trying to cut down my margin balance further instead of paying 10% interest while having paper losses which is double the pain.Since the 12/2 -200c expired worthless, 12/9 -200c and 12/16 -210c are looking pretty good, I'm going to kick off the christmas rally into next year by pre-opening their replacement positions. I usually make the worst trades, so could bounce anytime now and my -175c will get DITM soon. You are welcome.
STO 1/20/2023 -175c for $14.65, SP around $172.8
Positions: 12/9 -200c, 12/16 -210c, 1/20/2023 -175c
. In a way i make myself feel better by pretending I'm depositing cash to get 9.5% interest...lol. Guess this is capitulation for me, probably the bottom.
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It may look scary but the under plumbing is pretty constructive.
The last time the hourly RSI hit OS territory, we were already at the prior low (187). This time, we were still way off the prior low (166).
Double bullish divergence can be observed on the hourly timeframe. Last time we didn't see one until the very last hours around sub 170s area.
What this is telling me is the selling pressure this time around is less potent than last time.
Moreover, my 172.5 level is still holding so I see no reason for panicking. The reason I thought 172.5 would hold is because that was slightly below the opening gap in the morning when MS's Jonas told institutions the sell off in TSLA was overdone. However, institutions didn't have much of a chance to accumulate TSLA at the 170-173 area because, as we all know, a massive frenzy of short covering took place that morning and the stock never looked back.
Now, if we were to believe Jonas' reputation, we'd have to bet that, despite the nasty FUD campaign on all fronts, institutions are locked and loaded inside this gap, just waiting for traders to get flushed out. It's possible that we go all the way down to 166 but for today, my motto is going to be "if they could have, they would have." If the market was truly that bearish on TSLA, nothing would be stopping bears from filling the gap all the way through. So, what's stopping them today? They so close!! I guess we'll find out tomorrow.
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chiller
Member
After a few poorly timed rolls and predictions (surely we will test ATH again within the year!) I have ended up with JAN 2025 -400P.
They are showing as 0 in extrinsic value, but since the spread is so wide, it is still some value there compared to the bid.
I do not want to be exercised, but unsure how to deal with this in a "nondestructive" manner.
Repeated sell offs on heavy volume outpacing the rest of the market and mega caps that are going sideways with below average (AMZN) to really below average (MSFT, QQQ) volume is not a good look.
Oversold and all that, yet where are the buyers?
Coming when you least expect it was the MO of the past.
Fair question: Whither TSLA if SPY visits 3K over the next few months?
Oversold and all that, yet where are the buyers?
Coming when you least expect it was the MO of the past.
Fair question: Whither TSLA if SPY visits 3K over the next few months?
i've been noticing that TSLA is climbing just before end of day, so i checked...
TSLA Last 20 Minutes of Trading - Red or Green?
in the last 16 days, there is 94% probability of sp going up in the last 20 minutes
for Thanksgiving 11/25 half day, used 12:40pm to 1pm
TSLA Last 20 Minutes of Trading - Red or Green?
in the last 16 days, there is 94% probability of sp going up in the last 20 minutes
for Thanksgiving 11/25 half day, used 12:40pm to 1pm
Have JAN 25 -P across the board ranging from 350 to 270. I was aggressive in rolling them right from the start and managed to bring down the strike prices a good amount over the past year, was not afraid to trade time for leverage figured the other options could turn out worse.
I am locked in now until JUN 25 options float, think they are due in MAR 23. Don't know if I will still have those -P or shares. Possible to still have -P but I would guess SP would have to go up to at least 200 and stick for that to happen
Reports of China now sold out after a 900 dollar incentive. Record quarter is already baked in, will be the greatest in Tesla history, yet here we are.
If I could change one inexplicable event over the past 18 months it would be that ridiculous post Hertz news rally. I was dumbfounded and it warped my sense of the market. I had a pretty good handle on things until then, if that had never happened I think I would be in a great position compared to current state of affairs.
It is just money folks, maybe when you have enough of it should just walk away from the sewer that is WS. Kind of like a Godfather theme.... Just when I thought I was out....
I took the close >174 as a minor, pyrrhic victory... (I was born optimistic, I'll take whatever I can and cling to it)
I've no idea where the markets or the SP goes, but after several days of heavy shorting I would expect a relief-rally of some description soon, no?
Same thing here I thought the SP would follow an exponential curve like the growth of sales. I thought the SP was entering the S-curve like the adoption of EVs. Totally delusionalHave JAN 25 -P across the board ranging from 350 to 270. I was aggressive in rolling them right from the start and managed to bring down the strike prices a good amount over the past year, was not afraid to trade time for leverage figured the other options could turn out worse.
I am locked in now until JUN 25 options float, think they are due in MAR 23. Don't know if I will still have those -P or shares. Possible to still have -P but I would guess SP would have to go up to at least 200 and stick for that to happen
Reports of China now sold out after a 900 dollar incentive. Record quarter is already baked in, will be the greatest in Tesla history, yet here we are.
If I could change one inexplicable event over the past 18 months it would be that ridiculous post Hertz news rally. I was dumbfounded and it warped my sense of the market. I had a pretty good handle on things until then, if that had never happened I think I would be in a great position compared to current state of affairs.
It is just money folks, maybe when you have enough of it should just walk away from the sewer that is WS. Kind of like a Godfather theme.... Just when I thought I was out....
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