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Wiki Selling TSLA Options - Be the House

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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.🤯:mad::eek:🥵 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.
There are YT DIY videos on how to make the door handle functional in the meantime. See photo of a fix I helped a guy at a SuC do. Basically, you dig the handle out with a credit card and put a long strip of duct tape behind it, let it retract, then fold the ends over so no sticky area shows. Open the door by pulling on the tape.
 
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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.

At this point it’s not even bears shorting the stock it’s us bulls buying protecting puts at the lowest low because our portfolio got destroyed. Never thought I would have to sell CCs at the lowest to avoid losing my shares.

In retrospect I am going to regret it and should have liquidated shares. Or not. At this point I have no idea what to do
 
sold 100 shares at $133 eariler today (didn't have the courage to sell more) and just a half hour ago 500 shares at $124 (could have gotten $9 more this morning). I am now back to margin safe but still have DITM puts that I will need to keep close eye on. The 130/135 BPS for Friday will get close out soon at a loss; doesn't make sense looking at a roll into next week.
 
At this point it’s not even bears shorting the stock it’s us bulls buying protecting puts at the lowest low because our portfolio got destroyed. Never thought I would have to sell CCs at the lowest to avoid losing my shares.

In retrospect I am going to regret it and should have liquidated shares. Or not. At this point I have no idea what to do

When in doubt, do half

Someone said that here the other day and it stuck with me. I should’ve sold half at the high. I’d be much better off now
 
There are YT DIY videos on how to make the door handle functional in the meantime. I‘ll try to find a photo of a fix I helped a guy at a SuC do. Basically, you dig the handle out with a credit card and put a long strip of duct tape behind it, let it retract, then fold the ends over so no sticky area shows. Then you can open the door by pulling on the two ends of tape.
 

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Tough tough day. Still holding on to the shares and leaps and trying to be optimistic. I am no longer leveraged long but still can't stomach seeing my equity go down by 10% just like that.

Doing a few things on the edges

1) Rolled down Dec 23 -c 152.5, 155, 157.5 to Dec 23 -c 138, 140, 143. My short term sold calls are current 2.2 to 1 versus my holdings. So must be very careful.

2) Bought calls Jan 25 at 500, 550, 590, 600, 610. Very cheap right now. Hoping for a bounce within the next 6 to 8 months and will sell for a gain. This is a trading position and I will not hold it to expiration.

Can the share price actually go to 100 or below? Holding out hope and not hedging or selling right now.
 
At this point it’s not even bears shorting the stock it’s us bulls buying protecting puts at the lowest low because our portfolio got destroyed. Never thought I would have to sell CCs at the lowest to avoid losing my shares.

In retrospect I am going to regret it and should have liquidated shares. Or not. At this point I have no idea what to do
I'm with you, being super-confused. I was selling CC's until TSLA nose-dived. None of us foresaw this awful price action. There has got to be some sort of relief at some point.
 
Santa Rally typically runs the last week of December and ends 2 trading days into January.

So I better close my CCs Monday, even if I don’t have the buying power to do so anymore. Will have the week end to decide how many shares I want to sell to close them. While the kids will be unwrapping gifts brought by the Santa Claus I will be thinking about which share to unwrap
 
At this point we're talking about an all-out purge of leveraged longs. Literally we're getting to a point where there will be no more sellers of the stock. I'm selling 50% CC @ 160 expiring next week for some beer money. Can't sell long dated CCs here as it goes against both the chart and the fundamentals.

When I heard the market can stay irrational more than we can stay solvent I didn’t know we were talking about -70% in 3 months irrationality with -7% and -10% sequential moves at the bottom