Same. So quick to go from oversold to overbought. My CC's have been caught big time. Going to pause and see how things pan out and if we revert to fill the gaps. Will try not to look at the value of my CC's in the meantime
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Same. So quick to go from oversold to overbought. My CC's have been caught big time. Going to pause and see how things pan out and if we revert to fill the gaps. Will try not to look at the value of my CC's in the meantime
If you can't lose them - selling them was a bad idea... not trying to be mean, just facts.
Roll out and up if you can't lose them, there is always a roll out and up... even if that is in 2024 or 2025.
This is not a game of free money - there is massive risk with options - which hopefully you were aware of before selling them.
Good luck, rally's like this will need to take a breather sooner or later, just got to hope you can roll out and up and it is "sooner"
Just sold 20 CC 205s for 2/3 for.37. This seems extremely safe based on history. Aren't we already at a history making week? The gains this week are way more than the notorious Hertz deal. Based on history we should have never breached 165 today. Not advice and obviously I don't know what the hell I'm talking about. I'm guessing.
EVNow
Well-Known Member
I don't mean to scare anybody but just saw a big bet for the 175 calls expiring today! Jeez I thought I saw a potential for a gamma squeeze but this is something else
rolled 160, and 162.50 to next week 165 and 170 for about even, slight debit. I am looking to do the same with 165 to 175 but the price just keeps climbing 
I'll keep doing this weekly if needed or if get's so steep, will target some far out dates and not rely on CC for generating cash.
I'll keep doing this weekly if needed or if get's so steep, will target some far out dates and not rely on CC for generating cash.
Yep, occasionally you just have to……..rolled 160, and 162.50 to next week 165 and 170 for about even, slight debit. I am looking to do the same with 165 to 175 but the price just keeps climbing
This week is unprecedented, right? What other weeks have we had such a huge percetage gain from the week's low to the week's high. Currently at 28%. Or am I just high?
This is the proverbial steamroller…….get out of the way! +25% since Wed AM! 
Little point in playing the CC game when reasonable weeklies/biweeklies are $1-$2 which can happen to SP in minutes.
Little point in playing the CC game when reasonable weeklies/biweeklies are $1-$2 which can happen to SP in minutes.
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myt-e-s-l-a
Member
I closed the 58x -C170 expiring today at a -$14.8k loss ;-(
Never underestimate TSLA beast-mode!
Never underestimate TSLA beast-mode!
For those thinking the current price action is particularly strong, unprecedented, etc...., remember that with the share price at ~165, that is ~500 pre-split. There was a time not all that long ago when 600 was unsustainably low (200 post-split), and I personally leaned hard on 233 (700 pre-split) as a nearly unbreakable support.
There is a LOT of room to run up and still be cheap from a long term valuation point of view. Maybe this is the v-shaped recovery back into the upper 200s / 300s that I consider reasonable. Maybe this is just a head fake that gets the put sellers pulled up to higher strikes than they want to be, followed by the reversal back.
I don't know what will be happening of course. I do know that at this share price, I still consider the shares to be cheap enough that I'm not selling cc at any strike. I'm not yet tempted to sell cc at any strike. I'm also in an income position where waiting is modestly uncomfortable, but locking in this huge drop in the share price is more uncomfortable (due to the cc strike being overrun).
There is a LOT of room to run up and still be cheap from a long term valuation point of view. Maybe this is the v-shaped recovery back into the upper 200s / 300s that I consider reasonable. Maybe this is just a head fake that gets the put sellers pulled up to higher strikes than they want to be, followed by the reversal back.
I don't know what will be happening of course. I do know that at this share price, I still consider the shares to be cheap enough that I'm not selling cc at any strike. I'm not yet tempted to sell cc at any strike. I'm also in an income position where waiting is modestly uncomfortable, but locking in this huge drop in the share price is more uncomfortable (due to the cc strike being overrun).
SpeedyEddy
Active Member
Looks like someone was right yesterday (straight run up to OneHundredAndEigthyyyyy) , I took my loss on -cc around SP 165 and sit out the (squeeze-?)storm to decide upon later. Maybe holding shares and doing nothing else is best the coming hours, sure looking like a squeeze and the run up is going much too fast, so I guess @ SP 180 I will open a new -CC 190 or so for the following week. Correction is about to happen after reaching $180 and the FED is holding an ICE-bucket to give us a surprise, febr 1st, I guess. (Russia, China, real-estate-problems following soon)
Thinking about converting to LEAPS for half portfolio in the next significant dip. $102 sure looks like to have been the bottom (still some reserves on my my end).
I know what I am about to state is a very dangerous thought... Have big losses, during the V-shaped vip to make up for. While writing the above almost reached $175. Mad mad run-up.
Thinking about converting to LEAPS for half portfolio in the next significant dip. $102 sure looks like to have been the bottom (still some reserves on my my end).
I know what I am about to state is a very dangerous thought... Have big losses, during the V-shaped vip to make up for. While writing the above almost reached $175. Mad mad run-up.
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Pretty much unprecedented. I've calculated the data going back to mid 2017 and the highest M-F gain previous to this week was 27.7% on the 17th April 2020. We opened Monday at $135.87 this week and so far have peaked at $174.99 for a weekly gain of 28.79%. So any close over $173.5 should see a new record M-F gain (at least for the last 5.5 years).
I'm thankfully I don't have any CC's to nurse but hope all that do can manage them without suffering any significant losses.
I sold $210 for next week at $0.93. Pray for me
You’re 100% right. I STO them only two days ago when TSLA was at $153, after a decent run from the 140’s. 170 seemed quite safe. There were at least four resistance levels above, with one biggie @167.
Well, lesson learned. When TSLA is in beast-mode watch out!!!
This is my second time being burnt bigly even with a very conservative strike and expiration.
bkp_duke
Well-Known Member
Don't bull traps usually come with low volume? This is high volume we've seen for the past 3 weeks.
I think other than the gamma squeeze, the funds are loading again after seeing how strong is the ER we got. Im glad to see TSLA is being TSLA again.
gabeincal
Active Member
I believe so. I’m just not taking part in the ecstasy because
a) of course I’m partially on the losing side this time (my leaps are very happy this week)
b) we’ve had numerous run-ups last year only to hit new lows shortly after
c) I don’t think the economy as a whole is doing much better
I’ll wait a little by pushing out my measly 135CC’s weekly and either eat even more losses, or get exercised and then grab an ‘awesome’ short put deal with the devil.
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