volatility works both ways -- up and down. Increasing IV "only" means that a larger move is expected. Can be any direction, since volatility is calculated using the square of the expected move, which eliminates the sign of the number
-
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
he just said "TSLA decoupled from S&P but coupled back again yesterday at the close; TSLA could be the factor in SPY moving up today" (as of 5 mins ago)
Closed my CCs,
I’m loading up gradually in calls
Deployed 1/4 this morning
Will add 1/4 tomorrow if we finish green and follow through.
I’m betting for a Christmas rally to cover for my tax funds I used to cover my margin call.
I think I tilted, I am the guy in the casino who had Pocket Aces, made a full house and got bad beat at the river by quads. Now I double or nothing.
I had a BPS for Jan 20, 2023, 20x 150/223.33, and got assigned on 17 of them last night.
Was hoping for a rally and waited for an uptrend, resold 17x p223.33s when stock was about 140.5.
Of course, stock started dropping right after that. I sold 200 of the 1700 shares at 140.10. Now hoping we get back over 141 so I can try to sell the rest and end up with a profit.
I had come up with an assignment cheat sheet on the timing order of whether to sell the puts or shares first in order to try to make a profit:
if stock moving down, sell shares first, then sell puts (wait for stock to go down for more profit)
if stock moving up, sell puts first, then shares (wait to go up for more profit)
Was hoping for a rally and waited for an uptrend, resold 17x p223.33s when stock was about 140.5.
Of course, stock started dropping right after that. I sold 200 of the 1700 shares at 140.10. Now hoping we get back over 141 so I can try to sell the rest and end up with a profit.
I had come up with an assignment cheat sheet on the timing order of whether to sell the puts or shares first in order to try to make a profit:
if stock moving down, sell shares first, then sell puts (wait for stock to go down for more profit)
if stock moving up, sell puts first, then shares (wait to go up for more profit)
"The Tesla Chart: On Tuesday, Tesla closed the trading session near its low-of-day price on higher-than-average volume, which suggested the stock could trade lower on Wednesday. But, because Tesla has traded lower for the last seven trading days in a row, a bounce or sideways trading has become the most likely scenario.
www.benzinga.com
- On Wednesday, Tesla opened with an inside bar pattern on the daily chart, which indicates a period of consolidation may take place. If the stock remains trading within Tuesday’s range on Wednesday, traders will want to see the inside bar print on decreasing volume.
- Bullish traders want to see either sideways consolidation or for Tesla to break up from Tuesday’s mother bar later on Wednesday, which could indicate the stock will enjoy at least a short-term run to the upside. Bearish traders want to see Tesla break down from Tuesday’s range, which would indicate the bears are still in control.
- Tesla has resistance above at $139.53 and $152.19 and support below at $134.70 and $123.80."
Why Tesla's Bloodbath Could Ease In The Short-Term: What To Watch For On This Chart - Tesla (NASDAQ:TSLA)
Tesla, Inc (NASDAQ: TSLA) was popping up about 0.3% when the market opened on Wednesday, in tandem with the S&P 500, which was rebounding 0.
www.benzinga.com
willow_hiller
Well-Known Member
This might be somewhat more of a risk than I'd like, given the talk of a rally, but I've officially sold my first CC. Just one call at a strike of 200 for Dec 30. But I figure everyone needs to start somewhere!
It's amazing how paralyzing just a little additional risk can be, when you've only ever bought and held stock (and the sporadic way OTM long call). But I figure I'd be happy parting with the shares if we did have a spectacular rally over the next 6.5 days.
It's amazing how paralyzing just a little additional risk can be, when you've only ever bought and held stock (and the sporadic way OTM long call). But I figure I'd be happy parting with the shares if we did have a spectacular rally over the next 6.5 days.
Small and distant positions is a good place to start (and maybe even stay!). One reason that I don't see discussed nearly enough - your own education and experience with the mechanics. Opening a cc, closing a cc. The emotional roller coaster (if it is one) along the way, seeing the variations in the value of the cc day to day.
Many of these things are measurable / mathematical quantities, but the day to day swings in emotions - those are personal and (MHO) at least as important as the rest of it.
Is anyone looking at rolling deep ITM BPS forward and down? I have Jan 24 -340/303.33P that get assigned every day this past week. It looks like i can roll down to Mar 23 240/203.33. Huge risk that it is only 3 months out, however being 1 year out seems not to be any safer. Puts the BPS back in play if we get any rally off Q4, or other good news.
If anyone has ITM Mar 23 BPS, are they getting exercised?
Am i crazy?
I am desparate.
If anyone has ITM Mar 23 BPS, are they getting exercised?
Am i crazy?
I am desparate.
12/16 -185c and -210c held until expired worthless.
STO 12/30 -140c ($5.53 credit) on this small bounce, SP around $138.48.
I'm actually thinking about selling ITM CCs, but haven't acted on it yet, to hedge/ slowdown the destruction of my portfolio. I've already done selling stock, getting rid of margin, selling ATM cc's, but am hesitant to sell more stock and risk losing them forever, selling ITM cc in a way is like selling the stock partially, getting some cash up front, but at the same time keeping the stock just keeps the potential wound bigger. I'm still undecided, guess I'm greedy and still want it both ways. This has been crazy, I've been selling weeklies ATM cc's for a few weeks now and it seems like they just keep expiring OTM, and the stock is going down by $20/week. (I think i started with -200c's, then -185, then -160, and -140....)
Positions
12/23 -160c ($5.00 credit)
12/30 -140c ($5.53 credit)
1/20 -175c ($14.65 credit)
I am still waiting for that huge rally that many predicted 
Yah, I feel your pain. Every ATM CC that expires worthless seems like a great win, until one realizes that they just made $5, but the stock dropped $20.
Finally decided: I rolled all 12/30 straddles into 12/23 tight strangles & straddles around $140-$145, some inverted (puts higher than calls). Daring the MMs into delivering shares at these levels, plus trying to determine who’s stronger on 12/23: the options market or Santa Claus. If I’m wrong, I’ll just roll back out.
Today I was able to time the individual BTC/STO/BTC/STO sequence to align better to the SP gyrations between 10:45 &1 2:15. It didn’t feel so much like the MMs were always against me.
Edit: Congratulations @Max Plaid. Hopefully Trillium will push the numbers up enough to raise the SP 10%, so she’ll be paid for by the shooters!
Last edited by a moderator:
Seems like another high volume day, or am I wrong? I'm concerned that we aren't bouncing more (at all?) from these levels and on a positive macro day to boot.
This, 1000%.
There has been some chatter that maybe Elon is selling again but this time through his 105.3b plan? We would know tonight, right? Unless this is the point that everyone is getting margin called or dealing with margin issues, I just dont know why we cant move upwards. I personally had to liquidate shares at $153 to reposition myself for any further moves down.
I guess to my earlier post, maybe this is where TSLA has been revalued as a company?
JSML
Member
Rolled Dec 23 -c165 to Dec 23 -c152.5
Still holding -c155 and -c157.5
Not seeing any catalysts rest of this week.
My belief is the market is at a ‘show me’ stage with Tesla and until we get 4th quarter deliveries and then earnings, the stock has limited upside.
Deliveries and earnings could see stock jumping 15 percent or more for each event. Will need to find a strategy for my weekly sold calls.
Still holding -c155 and -c157.5
Not seeing any catalysts rest of this week.
My belief is the market is at a ‘show me’ stage with Tesla and until we get 4th quarter deliveries and then earnings, the stock has limited upside.
Deliveries and earnings could see stock jumping 15 percent or more for each event. Will need to find a strategy for my weekly sold calls.
True for the most part. IV tends to decrease when the SP increases and IV tends to decrease when the SP increases.
Last edited:
SebastienBonny
Member
Keeping my hands off CC’s for now!
There is no significant rise yet and we might get Giga news on Friday.
Will wait for Monday to see if there is news and a possible reaction to maybe sell CC for next Friday.
Probably no CC’s open because we will get P&D on Monday 01/02 (?).
Had some work managing my margin, but added some cash and good until 115 now and 105 soon.
Tough lesson this is considering margin, but luckily no stock sales.
There is no significant rise yet and we might get Giga news on Friday.
Will wait for Monday to see if there is news and a possible reaction to maybe sell CC for next Friday.
Probably no CC’s open because we will get P&D on Monday 01/02 (?).
Had some work managing my margin, but added some cash and good until 115 now and 105 soon.
Tough lesson this is considering margin, but luckily no stock sales.
Last edited:
That's $5 better than I'm doing...Yah, I feel your pain. Every ATM CC that expires worthless seems like a great win, until one realizes that they just made $5, but the stock dropped $20.
I’m having the hardest time of my life not selling ATM CCs. The stock price action looks so much manipulated I don’t see a rally coming
Similar threads
