Wiki Selling TSLA Options - Be the House

[SpeedyEddy]

On the flip side, pay attention to the 2/17 expiry. BRK usually files its 13d in the middle of February. If it bought any TSLA, watch out above.

Or at least somebody seems to know something, buying these 200 calls massively for this and next week (last weeks a lot of crazy OTM peaks too, so that news must be very worthwhile). I am already all out of bearish positions of which AMZN and AAPL created huge losses TBH, cost me some $TSLA shares alas. Just the macro withholds me from buying Tesla calls massively. But I will do a few iThink. Waiting for some microdip that seems to stay far away today.

 

[SpeedyEddy]

Do we know the size of the 200 call wall right now for today?

it can be over 400.000 by now (60.000 yesterday and volume 375.000 as of 15 minutes ago. So HUGE) (although some of the 60.000 can be sold in the 375.000 move of today, even a lot of 375.000 can have been recirculating for sure ) I have no access to current OI, so NOT SURE
I am so sorry, I now see the figures of today's volume have been corrected. Sure I saw it, but now the volume of today is only 169.000 (still a lot)

 

[mongo]

Point of interest: IRS is adopting EPA vehicle classifications so all Model Y qualify for the $80k cap.
Manufacturers and Models for New Qualified Clean Vehicles Purchased in 2023 or After | Internal Revenue Service

 

[intelligator]

it can be over 400.000 by now (60.000 yesterday and volume 375.000 as of 15 minutes ago. So HUGE) (although some of the 60.000 can be sold in the 375.000 move of today, even a lot of 375.000 can have been recirculating for sure ) I have no access to current OI, so NOT SURE
I am so sorry, I now see the figures of today's volume have been corrected. Sure I saw it, but now the volume of today is only 169.000

This is from the source of options volume (where contracts > 500)

 

[Max Plaid]

OK, go on then, I'll call your bluff, Mr Market...

-c300's are now interesting, STO 45x 3/3 -c300 @$1.25 -> this is the cost-basis of the shares, so zero risk, plan is to sell 4500 and keep 4500, shift to 20% OTM calls and puts, so all good

 

[juanmedina]

Point of interest: IRS is adopting EPA vehicle classifications so all Model Y qualify for the $80k cap.
Manufacturers and Models for New Qualified Clean Vehicles Purchased in 2023 or After | Internal Revenue Service

The same with Mach-E . Will Tesla raise prices? very interesting.

I am all loaded with $210... feeling that $200 might be broken today. I am not sure if I should roll to $240's or wait it out.

 

[BornToFly]

They are REALLY trying to keep it under 200 today. I really, really, really hope they succeed....

 

[chrsk]

They are REALLY trying to keep it under 200 today. I really, really, really hope they succeed....

Fells like it could go either way now. Will be fun to se the results if 200 is breached.

 

[myt-e-s-l-a]

Closed BTC 10x 230210C185 @ $5.80 for credit $5.50

STO CC 10x 230203c200 @ 1.50 09.40a est
and
STO 5x 230203P195 @ 1.50

 

[rikkert]

Closed my 3 Feb 190ccs for a total loss of $7489

 

[dc_h]

OK, go on then, I'll call your bluff, Mr Market...

-c300's are now interesting, STO 45x 3/3 -c300 @$1.25 -> this is the cost-basis of the shares, so zero risk, plan is to sell 4500 and keep 4500, shift to 20% OTM calls and puts, so all good

That is amazing. Imagine a month ago, these were probably selling for .01. Great news if you get assigned and great $$ if you don't.

Just to experiment with the pullback idea, I sold one 185 CC for Feb 10th for 15. I wanted to sell a few shares at 200 anyhow, so no downside.

 

[scubastevo80]

I just rolled my $152.5's out another week (same strike) for $0.38 credit. Ugh...

I'm also closing some of my LEAPs that were done middle of last year that are about flat at this point. At this point, I need a breather to reassess my total portfolio. I got burnt on the way down with BPS and now I'm shooting myself in the foot on the way up. If we get a correction, I may just write some puts at the prices I would buy, and then just let the shares do their thing (with an occasional CC if we're overbought like we are right now).

 

[EVNow]

Rolled -175/187.5 to 182.5/200 & -175/190 to -175/200.

That spread width of 15 in the second set instead of 12.5 in the first made quite a difference in the new widths - 17.5 & 25. Moreover I could improve the short leg in the first set by 7.5 and no improvement in the second. Got some credit on both sets.

Atleast I'm positive now on the two assignments I had recently at 192 & 165. But far from the early last year assignments near 340.

 

[dl003]

Somebody ALWAYS knows something. God damn this market is rigged. Imagine this IRS news wasn't leaked a week ago.

 

[Jim Holder]

Somebody ALWAYS knows something. God damn this market is rigged. Imagine this IRS news wasn't leaked a week ago.

Looks like we are losing steam however…which can also be healthy.

 

[CHGolferJim]

Another buy-write today: bought x00 shares at $195 and STO x 10Feb$190 CC at $13.31 — $8.31/share/week if assigned, if SP<$190 next Friday, will resell CC again. This is a great technique as long as shares are flat/rise, even if they drift down it isn’t a terrible purchase price for HODL and continued CC sales.

PS: my most recent tranche of LEAPs (Jan’25$160) is ITM!

 

[dl003]

Looks like we are losing steam however…

Sell the news probably.
This week has been another episode of gamma squeeze. What happens at the end of the squeeze is that call premiums get too ridiculously high for new buyers to open new position so the stock chops at the top for a while until IV rolls down, prompting existing holders to take their profit and the correction begins. We've been through this so many times.

 

[Jim Holder]

Sell the news probably.
This week has been another episode of gamma squeeze. What happens at the end of the squeeze is that call premiums get too ridiculously high for new buyers to open new position so the stock chops at the top for a while until IV rolls down, prompting existing holders to take their profit and the correction begins. We've been through this so many times.

Yup. I managed today to STO 28x -CC 250 2/17 for $1.88 ($5.2k) earlier at highs. At least the strike is above my cost basis for that lot so it’s not reckless. I doubt we tag $250 by Feb. 17 (14 days from now), but I learned never to say never.

Ideally we start retracing now to 170-140 and I could BTC earlier. Be healthier for the stock (and for me). But who knows?

 

[BornToFly]

The market dump at 12:30 saved my 200CC. Open positions for next week today, or wait until possible higher highs next week....

Probably do half today, especially if we get a little rise into the close.

 

[CHGolferJim]

The market dump at 12:30 saved my 200CC. Open positions for next week today, or wait until possible higher highs next week....

Probably do half today, especially if we get a little rise into the close.

Patience rewarded! I wonder if buyers are largely gone for the week, so no late-day surge? Spurt Mon AM?