I put limit orders in and literally missed selling 260CC by a penny near the open. Obviously wishing I had just taken the premium they were offering. I'm hoping this is just a MMD, but the QQQ are not looking good now and dragging TSLA down. 
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Honestly I think this market is too dangerous and unpredictable to be selling weeklies, especially for novice options traders. I have gone entirely to day trading.
I just sold 252.5CC for Friday. Good enough I think.
My biggest fear right now is a Moody's upgrade causing a short squeeze and a quick 25% gain. I know that last year Moody wanted to see more products. Hopefully now they would recognize Tesla Energy products, or consider Tesla's even stronger financial position.
My weekly goal is safe 0.2 Premium CCs. As 400 strike CC for Jan 2024 get closer to $10, I'm really tempted to just sell those and be done until January. My problems with that are that I'm addicted to trading, and I keep thinking that the 400CC could go to $15, so I would rather sell them in a month if they go even higher....
My biggest fear right now is a Moody's upgrade causing a short squeeze and a quick 25% gain. I know that last year Moody wanted to see more products. Hopefully now they would recognize Tesla Energy products, or consider Tesla's even stronger financial position.
My weekly goal is safe 0.2 Premium CCs. As 400 strike CC for Jan 2024 get closer to $10, I'm really tempted to just sell those and be done until January. My problems with that are that I'm addicted to trading, and I keep thinking that the 400CC could go to $15, so I would rather sell them in a month if they go even higher....
SebastienBonny
Member
I wouldn’t say a huge rise after a Moody’s upgrade is 100% certain.
in normal circumstances, yes, but S&P upgrade didn’t give the expected reaction as well.
I will say the stock is very strong. I saw them come for a lot of weekly 190 puts and that seemed to have caused the morning drop but most option bets now are to the upside like a 600k bet for weekly 220 calls. Most dips are getting bought.
So who knows but this price action is screaming that some big news is expected? Now if TSLA goes red and drops 4-5 dollars I might change my mind but something for sure is up.
On my part I'm just day trading CCs. No BPS or CSP when the stock is overextended like this.
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I agree, but I don't want to get burned again. (I lost $$$ on the Hertz SP spike in 2021).
I don't know if it's true, but it sounds like some institutional buying is still waiting on Moody.
I agree premiums are kind of rich for no reason.
mickificki
Member
Wouldn't a Moody's upgrade allow a lot of pension investment funds to now invest in tsla? I think it'll surge upwards.
Using the technique described by these two posts and applying 5 minute view instead of twitchy one minute I typically watch (the trigger was the second high with downward trending MACD and RSI. Did I understand this correct?) , I sold 2/10 -c230 for 1.00 which will probably not age well (.67 now). The intent is to day trade the CC. Nice experiment for myself nonetheless.
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Yes, because most of the funds require "investment" grade from two or more agencies, that's why... So Moody's would allow a lot more institutions to start buying
SebastienBonny
Member
Possible, but who says they will load up right away? Stock was at 100 just “moments” ago. They might think 200 is expensive and wait for a downturn first…
It was 200 two moments ago
.The big question is how long this broad rally can continue.
Hmmmmmm .... was this the indicator that a reversal was forming? It was the second low where the MACD and RSI trend upward. I set a BTC for .50 but had missed it by a few cents. Had I been watching at the time, could have replaced with .53 ...
I think what could be developing is an ending diagonal wave 5, similar to what SEDG did in December. It means one more high, either failing at the top of the wedge or after a false breakout.
I closed my $240's and I also thinking about selling some Jan 24's incase we go down some. Elon naming a Twitter CEO can also be a nice catalyst that could happen at anytime.
Closed $230's at .50 from 1.00 sale at just before noon
From MaxPain, I noticed some notable trades:
Today 50,00x c180/c183.33 Jan 2024
Today 4,000x p170/c270 Dec 2023
Previous OI 30,000x c150/c153.33 Sept 2023
Previous OI 30,000x c180/c183.33 Sept 2023
Previous OI 20,000x c340/c353.33 Sept 2023
Previous OI 24,000x c250 July 2023
I don’t know if these are spreads, bull or bear, but most seem pretty bullish to me for later in the year. Most close in weeks/months seem more neutral and targeting around 200 or the current SP. However, seems to be more puts showing on March 2023. Perhaps bears are pushing an agenda there. Don’t know if any of this is helpful, but those 20,000x c340/c353.33 for Sept seems pretty wild (though I’m ignoring the 650+ strikes). Anybody here?
Back to this week’s reality: I’m still sleeping in on vacation, so put in a few orders last night and tonight just in case. Well, got lucky this morning selling -c190s at $12.50, probably near the open, to pair with my -p190s sold last week. They‘re currently $9.50, so lucky for now. Plan to roll that straddle out on Friday after theta does it’s work. This is only on 10% of my shares, as I’m trying to reduce risk. Also, sold a few -c220s at $1.25 just for beer money. Finally, trying a few $10 wide ICs in the $0.50 range, just to get some more experience. Probably dumb and should have waited until Wednesday or Thursday, but will be traveling again soon. The SP sure seems pinned at or near $195 for Friday, which will be perfect for me. Still holding 2/17 -c155s and hoping that my newbie interpretation of TA is correctly forecasting a pullback. As always, GLTA.
Today 50,00x c180/c183.33 Jan 2024
Today 4,000x p170/c270 Dec 2023
Previous OI 30,000x c150/c153.33 Sept 2023
Previous OI 30,000x c180/c183.33 Sept 2023
Previous OI 20,000x c340/c353.33 Sept 2023
Previous OI 24,000x c250 July 2023
I don’t know if these are spreads, bull or bear, but most seem pretty bullish to me for later in the year. Most close in weeks/months seem more neutral and targeting around 200 or the current SP. However, seems to be more puts showing on March 2023. Perhaps bears are pushing an agenda there. Don’t know if any of this is helpful, but those 20,000x c340/c353.33 for Sept seems pretty wild (though I’m ignoring the 650+ strikes). Anybody here?
Back to this week’s reality: I’m still sleeping in on vacation, so put in a few orders last night and tonight just in case. Well, got lucky this morning selling -c190s at $12.50, probably near the open, to pair with my -p190s sold last week. They‘re currently $9.50, so lucky for now. Plan to roll that straddle out on Friday after theta does it’s work. This is only on 10% of my shares, as I’m trying to reduce risk. Also, sold a few -c220s at $1.25 just for beer money. Finally, trying a few $10 wide ICs in the $0.50 range, just to get some more experience. Probably dumb and should have waited until Wednesday or Thursday, but will be traveling again soon. The SP sure seems pinned at or near $195 for Friday, which will be perfect for me. Still holding 2/17 -c155s and hoping that my newbie interpretation of TA is correctly forecasting a pullback. As always, GLTA.
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I have -c170 and -c175 to roll. The cost basis on these shares so low, I want to avoid them called away. Yes, I know not to sell calls if I don't intend to have shares called away. Who knew ? Any strategy to a far out roll that can be better managed at a later time? EDIT: There are so many influences weekly that can tip the price either direction, making it difficult to choose a "quiet week". Going to wait for any dips the next few days.
Any strategy to a far out roll that can be better managed at a later time? EDIT: There are so many influences weekly that can tip the price either direction, making it difficult to choose a "quiet week". Going to wait for any dips the next few days.
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