jeewee3000
Active Member
I wouldn't abandon hope on these puts yet. Especially the 185's.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
The last two months showed me how you can rescue DITM CC if you have the cash to write Puts. I don't remember where I started. Around 165 I think. Slowly Rolled CC to 210 for this week and sold two Puts for every call to pay all the debits. Now I have 185 CSPs for tomorrow. I will see if they end up ITM tomorrow. I may let them get assigned for stress free Buy-Writes at these levels.
jeewee3000
Active Member
Cash is king indeed, and can save many a situation.
However, always bear in mind that "rolling" or "fixing" (as we have plenty of experience with since this thread first started) means throwing good money after bad money. In your case you are succesfully selling puts and using those (realized) gains to roll cc's (= conversion into unrealized gains).
Since my capitulation moment in november 2022, I dropped the "fix-it" strategy almost entirely. I am more critical when opening the initial position and will hold out longer for a dip to sell puts or a rally to sell cc's, but whenever I decide to write options I am comfortable with their execution should they end up ITM.
It gives me enormous peace of mind.
For example for tomorrow I wrote $180 csp's and $200 cc's upon open today ($1.7 and $0.7 respectively) for beer money. But if assigned, I'm wheeling it.
The very worst case with TSLA is if we see a monster rally we never back down from. But still I'll make money on the way up writing puts.
It's my lesson learned from Yoona: preserve capital at all costs. Who cares if I have x or y amount of TSLA shares? I'm in it to grow my portfolio, not to be able to state I played dead investor for years.
gabeincal
Active Member
I’ve simply converted shares at the wrong opportunity. Take price action and IV into consideration when you do it and it can be quite a profitable endeavor.
SebastienBonny
Member
Sold 210 CC for next Friday for 1.60.
Would be happy to see us getting back above 200 by then and should we reach 210 it'll be rolled higher.
Edit: maybe I was a bit to early, thank me guys
Would be happy to see us getting back above 200 by then and should we reach 210 it'll be rolled higher.
Edit: maybe I was a bit to early, thank me guys
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BTC 45x -c300 @0.95 net +$1.60 -> slightly annoying that I had a 75c sell in place and it opened at 76c, still, that's easy money and will resell when we recover back up to the 210's
I'm not sure that shorty expected the stock to be this strong today, OPEX positioning or the same buyers we saw in Jan/Feb??
I'm not sure that shorty expected the stock to be this strong today, OPEX positioning or the same buyers we saw in Jan/Feb??
SpeedyEddy
Active Member
So, really made some good trades aftermarket, selling high and buying back low after franz said next gen was really off the storyboard for InvestorDay (I think THAT was the only reason for pressure on SP). Ok We still have to come down, so the reason why is not so important, it would maybe have happened slower without ID, but these events create opportunities for a day trade too, plus some action.
Today at opening I was again fully loaded with shares (in fact after fridays loss and yesterday's aftermarkets trades a few more shares then last week) and that 50% CC still open. I sold almost half of shares @ 192.77, also selling C190 for next week and C205 for march 17. Used part of the money to buy a LEAP 2025 june 400 for $25.70. This also being on @dl003 's track believing SP 180 is yet to come, At which moment buying another leap, but leaving room for a later SP 143-150 to exploit. That moment I will go in big with -P and LEAPs, having missed the 102 (believing 97 would be an ultimate bottom, how silly can you be, fishing for a few dollars, but big losses make people thinking weirdly as we all know. )For now cash (partly) is king I think, Just holding shares because of -CC, covering 2 out of 3, keeping the possibility to roll them down, collecting extra premium as long as the bearishness is on the table. (seen the march 17 SPY options: 380 is a second huge and growing Putwall, still 3.5% lower than today, which for $TSLA would convert to 7% down which coincidentally ends as a $179 target on 3/17. Might that come much sooner then beware of a possible 143-150 before april! (IMHO)
Today at opening I was again fully loaded with shares (in fact after fridays loss and yesterday's aftermarkets trades a few more shares then last week) and that 50% CC still open. I sold almost half of shares @ 192.77, also selling C190 for next week and C205 for march 17. Used part of the money to buy a LEAP 2025 june 400 for $25.70. This also being on @dl003 's track believing SP 180 is yet to come, At which moment buying another leap, but leaving room for a later SP 143-150 to exploit. That moment I will go in big with -P and LEAPs, having missed the 102 (believing 97 would be an ultimate bottom, how silly can you be, fishing for a few dollars, but big losses make people thinking weirdly as we all know. )For now cash (partly) is king I think, Just holding shares because of -CC, covering 2 out of 3, keeping the possibility to roll them down, collecting extra premium as long as the bearishness is on the table. (seen the march 17 SPY options: 380 is a second huge and growing Putwall, still 3.5% lower than today, which for $TSLA would convert to 7% down which coincidentally ends as a $179 target on 3/17. Might that come much sooner then beware of a possible 143-150 before april! (IMHO)
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SpeedyEddy
Active Member
BTW SPY daily options wider spread today (395-400) but 393-394 would be best so the retreat of $TSLA will continue until SPY between 393 and 394, so the daily goal will be reached (almost) again. Let's be clear again, you can't predict today for tomorrow, because the big boys jump in singling the desired SPY within the first half hour, every day.
I am very curious how often wil will see this not come true. Of course the big boys know they can't hold a herd going against the daily goal, but if that happens only 1 in 10 days or less and they recognise a herd coming, reacting in a suboptimal timely fashion, it will still be worthwhile, I guess.
But it will lead to much more gap-ups and gap-downs, because only pre-market and aftermarket-trades are not affected, so then the real SP will be a result of trading. Sure, the daily options will not survive as such, maybe even the weekly will disappear (nah.... too much money involved voting against...)
I am very curious how often wil will see this not come true. Of course the big boys know they can't hold a herd going against the daily goal, but if that happens only 1 in 10 days or less and they recognise a herd coming, reacting in a suboptimal timely fashion, it will still be worthwhile, I guess.
But it will lead to much more gap-ups and gap-downs, because only pre-market and aftermarket-trades are not affected, so then the real SP will be a result of trading. Sure, the daily options will not survive as such, maybe even the weekly will disappear (nah.... too much money involved voting against...)
I think anything 180 and under should be safe until at least end of next week. I can't predict how CPI and FOMC week is going to play out.
I try not to sell CCs heavily on days when we are -8% already. But I think 210+ should be safe.
Thanks. That’s because we might recover back over 200 (but not as high as 210+)?
Meaning that we can get a better price waiting and not STO all now at 190, since it may recover some.
This 188 level is significant. It's the 4h uptrend support so easy to see why it would present a fight for the bears. Without any real piece of bad news I don't think we'll break it. ID sell the news doesn't count as bad news. I think it'll take a hawkish FOMC to break it. then we have daily uptrend support at 175. That should be the bottom if 188 is broken after FOMC.
on days like this, people dump calls which lead to a double whammy for call sellers: SP drop and IV crush. I try to anticipate this and sell whenever it's more advantageous.
SpeedyEddy
Active Member
I think the descent wil come in gradually until FOMC, but 188 will be broken well before tuesday. Today or tomorrow it is possible, but big option-peaks at 190 may prevent that from happening. Wouldn't bet on it though.
Not too bad - closed the calls for $0.05 each and the Puts for $0.40 each - total net for overnight holding - $1.35 each.
Xepa777
Banned
Saw all the hype for $25k car when no one at tesla had even uttered that number. See influencers going full swing on YouTube talking about car unveil and leaks on twitter and sold a *sugar* ton of CC at $210 last week to the time of a nice $8k profit. Then publicly posted my thoughts to plant the flag. Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable + Tesla Investor Day Discussion
Enjoying the dislikes on my comments in the main thread lol. Tesla will be great long term, but this was so predictable.
Enjoying the dislikes on my comments in the main thread lol. Tesla will be great long term, but this was so predictable.
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