Elon confirmed that he will step down as CEO of Twitter as soon as he finds someone. That gives me some hope of a short term pump. I hope I get to clear all my margin at a better price.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Elon confirmed that he will step down as CEO of Twitter as soon as he finds someone. That gives me some hope of a short term pump. I hope I get to clear all my margin at a better price.
Even if I am extremely bearish, $138 was a price target I heard from a lot of TA traders, $140 was the SP target for CGS synthetic shorts and he is currently closing them and started buying TSLA 300k at $159. We are extremely oversold and nothing goes down in a straight line for ever.
I just got permission from my wife to transfer the tax man money in my account to cover my margin call. She also gave me the ok to close my short positions SDOW, YANG and SQQQ and throw that money on buying calls. Tomorrow morning thinking about closing my 80x 13/1 175CCs for a 85% profit and buying them instead and bet for a short term Christmas rally with the money from closing all my short positions. Anyone with similar thoughts?
Totally know how you feel and have done the same. I've been selliing shares to close some of my underwater puts at a loss to meet margin requirements, and opened some Feb '23 220calls. The beatings should stop soon now that morale has "improved" right? <-- Farside reference if anyone remembers it?
(not advice) be watchful in case the rally is fake and it is a bull trap
i am also planning to buy shares this week, but will wait for confirmations first (no need to be the first in line at the lowest dip)
I'm obviously half kidding. I made some moves today. I still have dry powder to buy more, no margin.
Sold 400 shares at 150.XX during premarket
Later during the day
Sold 5X Jan 25 150 strike puts 46$ each.
Bought 50X Jan 25 300/400 bull call spread for 7.50
Bought 10X Jan 25 120/420 bull call spread 52.40
Bull spreads instead of straight up calls in case TSLA drops further. If it does I will be closing the short legs. I think Elon is trying his hardest to impact the stock price. I'm sure he knows TSLA has underperformed vs other tech stocks but like a broken record he keeps saying it's the fed. Something does not add up.
Let's roll. I believe a 400K delivery number is now factored in so the risk/reward is spectacular. Not advice.
This is a great piece of advice. As uber bulls we are always worried about missing out on any spike and end up FOMOing. This applies to opening CSPs and CCs. I believe we will continue to be volatile and it's ok to miss the bottom.
I found this reassuring and sharing here in case others haven’t seen it, quoted from Monday’s post from our beloved @Papafox in the daily TSLA charts thread:
“…so, we have pressure building on the Fed, which is good. The economy is still fine but showing signs of stress, precisely the situation where a pause makes sense. Interest rates will continue to fall. Tick, tick, tick. We thus have potentially good news coming about interest rates by the next Fed meeting.
“Tesla is going to produce and sell a sugar-load of vehicles in 2022 and then show that they're nearing 2023's needed production rate for the 50% increase in that year. I have zero reason to sell at the bottom and so I HODL and keep rolling my leaps at low or no cost until the skies clear.”
Amen!
“…so, we have pressure building on the Fed, which is good. The economy is still fine but showing signs of stress, precisely the situation where a pause makes sense. Interest rates will continue to fall. Tick, tick, tick. We thus have potentially good news coming about interest rates by the next Fed meeting.
“Tesla is going to produce and sell a sugar-load of vehicles in 2022 and then show that they're nearing 2023's needed production rate for the 50% increase in that year. I have zero reason to sell at the bottom and so I HODL and keep rolling my leaps at low or no cost until the skies clear.”
Amen!
Pierre Roberge’s brief daily TSLA TA analysis (3-5min tops) have been very to the point and drama-free. His post today speaks to this point exactly about how to know when to hop back in buying TSLA shares or calls for those of us considering to:
he is still saying all his indicators are red like stochastic and RSI and it doesn´t look like he’s recommending any buy right now as it is still in a downward momentum.
However, many other are expecting a bounce to these support levels where gap filled, lot of buyers were planning to come back and buy at these levels.
now it is a matter of expecting a bounce and regression to the mean or waiting for indicators to come back green and starting to buy back when we have a confirmation of a buying momentum coming back.
Yes, his point is there could be a false breakout/rally that falls soon after, trapping people. He shows how this happens over and over when stochastic does not maintain over 60 during those pushes.
His point is to know when it’s real is to see that share price breaks through a vertical and a diagonal resistance line and has stochastic over 60 on the daily chart. (Stoch 60 on the hourly chart can be used for precision entry but is not as confident as if it’s on the daily chart).
Likewise, when the share price starts falling through Support, and loses stochastic over 60, it is time to sell and go to cash and wait for the end of the downtrend to reenter. This can double and triple ones portfolio pretty reliably. I wish I’d listen to him back at 300-400! He went to cash then as the SP began its downtrend. Now he’s able to deploy his cash at the start of the next confirmed upward move and ride it up.
corduroy
Active Member
Got assigned on all my 1/27 -245s and -250 puts. I'm not sure what I'm going to do, probably sell them back.
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I used to watch his videos in August then I stopped following because Cory had made his infamous video saying we broke out of the downtrend and we were back in full bull trend and bull market so I stopped to follow traders who repeated to sell because I was only leveraged 25% at that time and didn’t consider it to be a significant risk until yesterday when he’ll broke loose and we hit 130s.
Still closing my 80 CCs today and buying 20 x 150 30/12 Calls and 20 x 165 6/1 Calls with the money made from selling CCs and from selling SDOW. Short term play to have fun in this depressing market.
SebastienBonny
Member
I pray the lord everyday that it is
I saw TSLA go red, then flash buy from the algos once gap filled. Rigged algos market.
I would love to say it is, but no idea what will happen with P&D and earnings.
Capt Jim James livestream for anyone interested. He is in it and discussing now...
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