EVNow
Well-Known Member
Who ?
I’ve been watching Daily Trader on YT, seems to be good. As you say, he is more into what the price action and trend is, rather than prediction. I want to know what the TA guys are thinking …
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
I’ve been watching Daily Trader on YT, seems to be good. As you say, he is more into what the price action and trend is, rather than prediction. I want to know what the TA guys are thinking …
EVNow
Well-Known Member
There has been some discussion on this … it’s not clear what the answer is. I’m going to try out buying a few calls to see if a part of my sale is tagged as wash sale by Fidelity. It’s easiest to go with what your broker reports, otherwise you risk audit and having to defend your returns with IRS.
Anyway, my point was … different.
EVNow
Well-Known Member
Oh that’s right … but my comment was with reference to earlier discussions about it.
Dan Shapiro. He has a game plan to play both sides of the market. I will say this requires active trading since he trades hourly charts. His daily videos on YouTube help to get a sense of how he is thinking about the market.
I follow Dan in his daily trading room and he’s great. It’s basically active trading on the market that’s in front of us hour by hour. Quite effective and can capture sizable gains from daily moves!
Some people invest, some trade, everyone’s trying to eke out a living in the way they know best.
Most important is to maintain civil discourse here and remember that no one is forcing or paying anyone to post here, we are all learning from each other and veering into attacks and criticism is counterproductive, in fact we lost valuable members in the past due to thoughtless or insensitive comments and this thread of poorer for it.
Let’s keep things pleasant and welcoming.
Yep! Pierre Roberge on the Daily Trader is a fabulous TA analyst. His trend-trading approach can easily double and triple ones share count over time (i.e., go to cash when SP trend peaks and support breaks and stochastic loses 60 points on the Daily chart etc, and re-enter at valley and start of new uptrend when SP breaks over resistance with stochastic over 60, etc.).
As soon as there is a break of support and reversal to a downtrend I will have an open mind and see what Pierre Roberge and Technical analysis says. Upward and downward momentum is so strong. That’s one of the things technical analysis can identify. That’s the edge you have on the casino similar to counting cards than just buying every dip in a downtrend. Smarter to buy every dip when an uptrend resumes and there is momentum. Going against the trend might work for Michael Burry but not for everyone.
Pierre Roberge noted stochastic below 60% on the hourly timeframe. Mauro calling for a top from last week and going down
There might be money to be made on the way down. Is it happening next week till March?
Anyone bought puts or hedged against a downturn at this point?
Or still waiting for confirmation and break of support?
Attachments
I did. At 213 I sold a bunch of CC’s (2/17 250 strike) and closed them at 96% profit on Friday. I also bought last week several 150 puts for April and closed them Friday too. Overall some nice income, not complaining ;- )
I’m no TA expert but given all the information I’ve read and observed the past few days, including from our resident EWT expert @dl003, I’m positioned for a modest move up over 200 (205-215) this week at which point I plan to sell CC’s for 250 again and open some new puts. It may or may not happen, I’m prepared either way.
dc_h
Active Member
These would be what I consider well OTM Leaps for the farthest expiration - right now the June 2025.
For me the $350's are what I consider Lottery tickets - as the share price would have to raise significantly between now and June 2024 to make them valuable.
It has happened many times in the past with TSLA so I see it as a worth while experiment.
They are not cheap - if held to expiration the underlying would need to be $400+ to pay out...
But if it was in the $300's before June of next year the value would be well worth it.
So, basically anything between +/- 20% of the ATH is fair game for a lottery ticket.
I am a gambler and that is part of the reason I love this stuff, and instead of playing the Powerball, I play TSLA.
I like my chances
jeewee3000
Active Member
What strike and expiration are you considering?
I'm more tempted to sell 170 puts or so for March 3rd.
Unfortunately, I have some of those (Jan’24) in my ladder from 11/21
! Although YTD they are +4x vs. +1.6x for shares. I had been thinking of rolling them out, but then noticed they are appreciating faster than what I would have rolled to. Guess I’ll roll them during 2Q.Major strike put OI for this week (160, 170, 180 ,190, and 200), based on data from 10th is equal to Call OI for 200 and 220. Seems probable we could touch 185. I may eye 20% OTM BPS for Friday while also looking to continue rolling up 2/17 -c177.5
SebastienBonny
Member
225CC for Friday is looking good at 0.45 now.
As this was sold for 1.5 initially for last Friday expiry (strike 210CC - rolled last week when we were rising hard), just too soon to close.
Maybe I'll regret, but on the other hand should we reach 225 this week, what's to regret then?
As this was sold for 1.5 initially for last Friday expiry (strike 210CC - rolled last week when we were rising hard), just too soon to close.
Maybe I'll regret, but on the other hand should we reach 225 this week, what's to regret then?
jeewee3000
Active Member
Sold some 180 puts for March 3rd @$9. Don't mind to be assigned.
The higher IV at that expiration makes trading on the 1 to 2 week timeframe seem not worth it right now.
If we retake $200 (and preferably $210) this week I'll sell some cc's for March 3rd too.
The higher IV at that expiration makes trading on the 1 to 2 week timeframe seem not worth it right now.
If we retake $200 (and preferably $210) this week I'll sell some cc's for March 3rd too.
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