Wiki Selling TSLA Options - Be the House

[mickle]

This morning's assignments (feels like homework to deal with them):

2x Dec 30 2022 p210
12x Dec 30 2022 p185
15x Jan 20 2023 p223.33
6x Feb 17 2023 p240
4x Jun 16 2023 p266.67

re-entering some, a few at lower strikes, taking loss on others

 

[BornToFly]

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?

As long as you have the cash to buy the shares in a year, it's completely safe.

Not advice, but if I had $10,000, I would sell a Jan 2024 100 strike Put for a much better return. If TSLA is <100 in 2024 with 2 Million cars/year and energy ramping, the world is on fire and you're probably dead anyway.

 

[OrthoSurg]

As long as you have the cash to buy the shares in a year, it's completely safe.

Not advice, but if I had $10,000, I would sell a Jan 2024 100 strike Put for a much better return. If TSLA is <100 in 2024 with 2 Million cars/year and energy ramping, the world is on fire and you're probably dead anyway.

Well today feels like Putin sent 4 Nukes aimed at Tesla 4 gigafactories

I’m hesitating to liquidate all and stay full cash until reversal and follow Roberge RSI and Stochastic before buying back in or continue to sink with the boat until I have 0 left in my account

 

[ice]

Sold 12/30 -100c ($29.75 credit), SP around $129.31. I have CC on all my shares now.

Considering BTC some cc and roll down., or sell more shares, I think I'm close to 80% loss even with these moves.....

Positions
12/23 -160c ($5.00 credit)
12/30 -140c ($5.53 credit)
12/30 -100c ($29.75 credit)
1/20 -175c ($14.65 credit)

sorry guys I "capitulated" again, I'm probably going to regret it soon, hopefully some well capitalized bulls will get rich with my chairs.

BTC 12/30 -140c ($1.82 cost, SP around $126.36, $3.71 profit)), 1/20 -175c ($1.24 cost, SP around $126.30, $13.41 profit), freed up shares for sale and sold all shares in my margin account for $125.98. account took a 80% hit from the peak in January. at least the pain will stop now (in the margin account), watch it face rip 500% now.....

Still have shares covered by the 12/30 -100c and 12/23 -160c in my other tax free account..
Positions
12/23 -160c ($5.00 credit)
12/30 -100c ($29.75 credit)

 

[CrunchyJello]

As long as you have the cash to buy the shares in a year, it's completely safe.

Not advice, but if I had $10,000, I would sell a Jan 2024 100 strike Put for a much better return. If TSLA is <100 in 2024 with 2 Million cars/year and energy ramping, the world is on fire and you're probably dead anyway.

IBKR account is about $125k, and spread out over a number of tickers.
Just thought I'd set aside for a couple of "safe" ($50-100) puts.

 

[JustMe]

Breached 10% down.. uptick rule triggered..

 

[bingoz]

11% brutal

 

[ice]

sorry guys I "capitulated" again, I'm probably going to regret it soon, hopefully some well capitalized bulls will get rich with my chairs.

BTC 12/30 -140c ($1.82 cost, SP around $126.36, $3.71 profit)), 1/20 -175c ($1.24 cost, SP around $126.30, $13.41 profit), freed up shares for sale and sold all shares in my margin account for $125.98. account took a 80% hit from the peak in January. at least the pain will stop now (in the margin account), watch it face rip 500% now.....

Still have shares covered by the 12/30 -100c and 12/23 -160c in my other tax free account..
Positions
12/23 -160c ($5.00 credit)
12/30 -100c ($29.75 credit)

In margin account which had half my total shares, sold shares already ahead by $3, rather than waiting for the $1.82/1.24 theta to decay.

in tax free account 1/3 is protected by my 12/30 -100c, 1/3 by 12/30 -140c and 1/3 12/23 -160c.

-160c and -140c are pretty much useless as hedges now.

I don't know how long the -100c protection will last at this rate, with -$13/day drop it should only last 2 days.....might have to roll down again. Wish I actually woke up earlier today to sell but better late than never....

I'm down to 25% of my peak # of chairs....

Positions
12/23 -160c ($5.00 credit)
12/30 -140c ($5.53 credit)
12/30 -100c ($29.75 credit)

 

[Yoona]

Breached 10% down.. uptick rule triggered..

What is TSLA Stock Performance the Next Day if Uptick Rule Is Triggered?

 

[Knightshade]

So if one hypothetically had some LEAPs that are now, say, only 6ish months from expiration, that used to be DITM and now aren't....say oh I don't know 200 and 233 strikes.... one might want to think about rolling those out and/or down here... what would folks hypothetically think the best rolls would be? A few choices for example:

Roll June 23 $200 to:

Jan 24, $173.33 net debit $14.73/sh
March 24, $183.33 net debit $15/sh
June 24, $200 net debit $15.15/sh

 

[vikings123]

So if one hypothetically had some LEAPs that are now, say, only 6ish months from expiration, that used to be DITM and now aren't....say oh I don't know 200 and 233 strikes.... one might want to think about rolling those out and/or down here... what would folks hypothetically think the best rolls would be? A few choices for example:

Roll June 23 $200 to:

Jan 24, $173.33 net debit $14.73/sh
March 24, $183.33 net debit $15/sh
June 24, $200 net debit $15.15/sh

The 3rd option is what I would go with and might even look at Jan 25 even it's more OTM.

 

[saniflash]

The 3rd option is what I would go with and might even look at Jan 25 even it's more OTM.

or Sep 2024 which have been available since a few weeks. Not touching anything earlier than that

 

[Knightshade]

Trying to keep net debit close in all examples later dates get you:
Sept 24, $220 net debit $14.45/sh
Jan 25, $240 net debit $15.45/sh

 

[OrthoSurg]

Can’t believe what is happening today. I thought selling 80CCs ATM at 129 was the stupidiest thing ever

But the stock kept going down.

I think it’s time to damage control liquidate all my portfolio stay all cash and buy back when there is a reversal. I told myself I’d never do that but this is so brutal

I feel like a bag holder

 

[Ruhdis]

Can’t believe what is happening today. I thought selling 80CCs ATM at 129 was the stupidiest thing ever

But the stock kept going down.

I think it’s time to damage control liquidate all my portfolio stay all cash and buy back when there is a reversal. I told myself I’d never do that but this is so brutal

I feel like a bag holder

I just sold 25% of my portfolio to avoid margin call. I can't decide if this is going to rip up after an insane fall or if this is the start of the actual market crash. Do I sell the remaining 25% to relieve all margin or wait for the bounce to unload? People are throwing around the idea that sub $100 is a high probability... decisions decisions

 

[vikings123]

Trying to keep net debit close in all examples later dates get you:
Sept 24, $220 net debit $14.45/sh
Jan 25, $240 net debit $15.45/sh

Honestly I would not even look at it as a roll. Just look at it as opening a new position. Jun 23 200 is about 6$. I'd be inclined to roll the dice because right now TSLA is detached from fundamentals. Roll it when TSLA gets a bounce or be ready to take the full loss. Not advice but with so much little value left...

 

[scubastevo80]

I think I'm ready to officially quit options trading ladies and gents. My 12/23 140/125 BPS is obviously in bad shape, and I'm debating whether I attempt some creative roll for the hope that Q4 numbers turn the stock around or just close the account and move on. My inability to take a loss is a reoccurring theme I can't seem to shake and its cost me more than half of the value of the account this year.

 

[Jim Holder]

Well today feels like Putin sent 4 Nukes aimed at Tesla 4 gigafactories

I’m hesitating to liquidate all and stay full cash until reversal and follow Roberge RSI and Stochastic before buying back in or continue to sink with the boat until I have 0 left in my account

I’m in the exact same spot. It’s too late for me to follow Pierre’s rational method this time around and liquidate now (I should have at 309), especially since we may be near a bottom discovery and even bears are cautioning not to short here, which to means uncertainty on both sides.

My thinking is if I survive this far this low, holding out a bit more and not liquidating (so long that I can manage my margin and maintenance requirements) has some good R/R.

 

[Max Plaid]

Sacha calming as usual:

 

[ReddyLeaf]

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

I just debit rolled everything into an inverted strangle:
12/23 -c125s/-p126s. Damn, cannot believe that I’m selling CCs at less than 1/3 ATH. Anyway, taunting the MMs into putting me shares this time at $126, effectively doubling my shares and reaching my share goal. I didn’t really want to tempt fate and roll for credit to 12/30, and certainly not into 2023, because of the possibility of a face-ripping bounce. If I’m wrong, the worst thing is that my CC shares flip into puts, and my CSPs into share-backed CCs next week. I’m not that far from 1:1.5 p/c ratio, so if wrong I’ll just go 1:5:1 next week. To add injury to insult, my 2015S70D driver’s door handle froze last night and I now must crawl across from the passenger side. 200 mi to nearest service center and a massive storm tomorrow. Another metaphor perhaps. Well, at least the sun is shining today, maybe things will get better soon.