Wiki Selling TSLA Options - Be the House

[BornToFly]

Nasdaq is probably going to new 52 week lows at some point. TSLA below 100 is definitely possible.

I am not buying LEAPS. We could be in a bear market for a while.

I'm bummed because when we were still over 200, and I had a lot more shares, I had sold 206CCs and 220CC to buy 200 strike protective puts with Jan 2024 expirations. I exited the positions for a small profit when I thought the dip below 200 was temporary. I would be sitting pretty right now if I hadn't done that.....

 

[bingoz]

>68M volume in 1.5 hour, another typical day of TSLA.

 

[saniflash]

>68M volume in 1.5 hour, another typical day of TSLA.

smells like we're on track for capitulation....?

 

[OrthoSurg]

smells like we're on track for capitulation....?

Sold 11x 23/12 100CCs on the 11 puts I was assigned Tuesday
Sold 80 x 6/1 129CCs on all my shares to avoid a second margin call

 

[Max Plaid]

So now we're all selling DITM calls, the Hedgies can pull the lever and reverse back up

I cannot give anyone advice, I'm not qualified to do so and have screwed-up as much as anyone, but from here I'll mostly be selling DOTM shitcalls until the SP has some recovery (if ever, who knows, this might be a fundamental re-evaluation)

Just be aware that even if stocks don't recover, markets are still prone to violent bear-rallies without warning. Some of you got deep in the excrement on the way down, don't make the same mistake on the way back up

When you make a trade, assume it will go ITM, be comfortable if that happens, either by accepting the exercise/assignment or having a clear strategy, spare contracts or cash to deal with it - doubling-down on a bad position usually results in a worse situation

Again, not advice, just common-sense

 

[BornToFly]

I just told them to put my share of my jet on the market. I guess we'll be flying commercial again for a while . It will take a couple months. Hopefully I don't get a margin call before the money arrives.

Now I have to decide if I go back to work as a surgeon and pay to rent/fly, or take a part time job as a corporate pilot (where I make a LOT less money), but I am getting paid to fly....

 

[JustMe]

They got me.. reached a critical threshold so I sold 1/3 of our remaining shares to close out our margin balance. Frack.

I’ll be focusing on day trading TSLA options to earn income and nibble away buying shares with trading profits

I guess that means a face ripping short squeeze is imminent

 

[Jim Holder]

Seen on Twitter just now:
Our black swan was a blue bird.

 

[bingoz]

The furthest put expiration I have is on Jun 23. It's still OTM. Btw, I dont feel safe about it anymore , hope to see a bounce to 150, then I might roll out and down some more to be safe.

 

[Oil4AsphaultOnly]

They got me.. reached a critical threshold so I sold 1/3 of our remaining shares to close out our margin balance. Frack.

I’ll be focusing on day trading TSLA options to earn income and nibble away buying shares with trading profits

I guess that means a face ripping short squeeze is imminent

same here. sold shares to close remaining short puts. Only have long calls left. Totally ready for that face ripping now!

 

[CrunchyJello]

What are the cons against selling Jan/24 $50 puts?
I'm hoping for a much more stable world in a year's time...but who knows?
Currently in the $4.10 zone; I submitted a bid for $5.00.
I have a small account; any planning suggestions / advice?

 

[OrthoSurg]

So now we're all selling DITM calls, the Hedgies can pull the lever and reverse back up

I cannot give anyone advice, I'm not qualified to do so and have screwed-up as much as anyone, but from here I'll mostly be selling DOTM shitcalls until the SP has some recovery (if ever, who knows, this might be a fundamental re-evaluation)

Just be aware that even if stocks don't recover, markets are still prone to violent bear-rallies without warning. Some of you got deep in the excrement on the way down, don't make the same mistake on the way back up

When you make a trade, assume it will go ITM, be comfortable if that happens, either by accepting the exercise/assignment or having a clear strategy, spare contracts or cash to deal with it - doubling-down on a bad position usually results in a worse situation

Again, not advice, just common-sense

Totally agree with you, I thought capitulation happened when we reached 137 but now that we went through 130 like it’s not even support then anything is on the table. I have never seen anything like it in the stock market

 

[samppa]

I've capitulated my trading account. Closed all options, sold all shares. Remaining balance 10% of what it was a year ago.

Bought jan30 130 calls with the remains.

Thankfully I still have my core account left at another broker.

Glad to be out of that mess.

 

[ReddyLeaf]

I……CANNOT…….BELIEVE……..THIS!!!!!!!! Another soul-crushing day.
Empathy to all, especially anyone with BPSs, margin calls, or who followed my stupid suggestion NOT to sell dITM CCs. Damn, I wish I had sold CCs even lower than 140-145s. Anyway, closed them all out for pennies and was waiting for a bounce (that never seems to come) to close/roll the puts. Like @Max Plaid, I’m hesitant to sell CCs at these levels. Still waiting……. Temperature was 0 F this AM and the longest, darkest night of the year….perhaps more than a metaphor.

 

[OrthoSurg]

I've capitulated my trading account. Closed all options, sold all shares. Remaining balance 10% of what it was a year ago.

Bought jan30 130 calls with the remains.

Thankfully I still have my core account left at another broker.

Glad to be out of that mess.

You are lucky, my core account is also my trading account. So seeing it vanish all is painful

 

[samppa]

Worst thing that has hit me this year was IBKR risk-based margin. It's ****ing crap.

They don't even say exactly how it's calculated, and then one morning you find yourself at a margin deficit. And cannot do anything about it, since everu transaction will worsen the margin deficit so it won't let you trade anything.

 

[samppa]

You are lucky, my core account is also my trading account. So seeing it vanish all is painful

I almost transfered everything to IKBR. But Degiro told me that the transfer would take at least 4 months. So I didn't go through with it.

In hindsight, some luck in all this mess..

 

[vikings123]

Elon talking dirty lol

https://twitter.com/x/status/1605963515402932237

 

[kabin]

What are the cons against selling Jan/24 $50 puts?
I'm hoping for a much more stable world in a year's time...but who knows?
Currently in the $4.10 zone; I submitted a bid for $5.00.
I have a small account; any planning suggestions / advice?

It's a pretty low risk/reward as long as you keep the golden rule of keeping your trade size small.

As always for naked short puts there's a remote chance for 100% loss.

 

[Max Plaid]

I……CANNOT…….BELIEVE……..THIS!!!!!!!! Another soul-crushing day.
Empathy to all, especially anyone with BPSs, margin calls, or who followed my stupid suggestion NOT to sell dITM CCs. Damn, I wish I had sold CCs even lower than 140-145s. Anyway, closed them all out for pennies and was waiting for a bounce (that never seems to come) to close/roll the puts. Like @Max Plaid, I’m hesitant to sell CCs at these levels. Still waiting……. Temperature was 0 F this AM and the longest, darkest night of the year….perhaps more than a metaphor.

Oh I'm selling CC's, just being careful...