Wiki Selling TSLA Options - Be the House

[Cherry Wine]

Two macroeconomic data points on my radar for next week:

JOLTS report on Wednesday 3/8 @ 7AM PT.
Jobs report on Friday 3/10 @ 5:30AM PT.

Both could easily serve as a big macro catalyst, but especially jobs.

 

[BornToFly]

After getting annihilated last year, I'm not as brave as the rest of you. I sold 235CC for next week earlier today for 0.2. Worth more now, but I didn't know if we were going to 180 or 200. These are shares I don't want to sell for less than 400 so I'm being safe. If we get back to 220 soon I will just sell Jan 2024 400CC.

 

[kabin]

I got lucky buying more shares yesterday. Loving today's price action.

 

[CHGolferJim]

After getting annihilated last year, I'm not as brave as the rest of you. I sold 235CC for next week earlier today for 0.2. Worth more now, but I didn't know if we were going to 180 or 200. These are shares I don't want to sell for less than 400 so I'm being safe. If we get back to 220 soon I will just sell Jan 2024 400CC.

An idea I‘m toying with that you might want to consider: DCA purchasing for longer-term calls. This could be lucrative for a likely trending upwards TSLA.

 

[SebastienBonny]

After getting annihilated last year, I'm not as brave as the rest of you. I sold 235CC for next week earlier today for 0.2. Worth more now, but I didn't know if we were going to 180 or 200. These are shares I don't want to sell for less than 400 so I'm being safe. If we get back to 220 soon I will just sell Jan 2024 400CC.

We have to be brave, we can’t sell 1000 contracts like you .

 

[intelligator]

An idea I‘m toying with that you might want to consider: DCA purchasing for longer-term calls. This could be lucrative for a likely trending upwards TSLA.

Is DCA purchasing = buying shares (dollar cost average) for future CC sales?

BTW, opened 3/10 -215/+225 BCS for 1.00

 

[juanmedina]

Well, tried something new today. STO 3/3 -c195 at open for $2.20.
You’re welcome. Stupid, I know, but still have ITM BPS that are a total loss, so daring the market up. It worked.

Edit: and, of course, when I finally decide to close the bps for a total loss, the SP jumps because somebody buys 1.1 M shares. I think that it’s time for me to drop out of this stuff. I can’t get a break.

I stopped doing all that other stuff and I have being doing covered calls exclusively and I have been doing well with no stress. I made close to $30k in February with all our accounts which is not much compared to what some of you guys make but for me it is a ton.

I sold a few $230cc for $.45-.4 not that many because I think next week is going to be a good one .

 

[Jim Holder]

I stopped doing all that other stuff and I have being doing covered calls exclusively and I have been doing well with no stress. I made close to $30k in February with all our accounts which is not much compared to what some of you guys make but for me it is a ton.

I sold a few $230cc for $.45-.4 not that many because I think next week is going to be a good one .

$30k for the Feb is really good! Was a difficult month to trade. Good for you.

Not so sure about next week is more upside. Lots of resistance and trend seems still more down than up.

 

[dl003]

I think we're going to pull back to the 190-192.5 area early next week before another leg up, targeting 205-210. Then, the big second leg down will begin.

 

[Jim Holder]

I think we're going to pull back to the 190-192.5 early next week before another leg up, targeting 205-210. Then, the big second leg down will begin.

Would you do -C210 for 3/10, 3/17, and 3/24?

 

[BornToFly]

I think we're going to pull back to the 190-192.5 early next week before another leg up, targeting 205-210. Then, the big second leg down will begin.

Starting to run out of weeks before Q1 P&D. Of course if those numbers are bad....

 

[dl003]

Would you do -C210 for 3/10, 3/17, and 3/24?

I already have -212.5C for 3/10. Not looking that far out, especially the 3/17 week. I'd rather stay out.

 

[dl003]

Starting to run out of weeks before Q1 P&D. Of course if those numbers are bad....

or if CPI comes in red hot and the Fed does a surprise 50 bps raise. Well...

 

[komrade]

Thoughts on STO 3/10 $190P?

 

[dl003]

Thoughts on STO 3/10 $190P?

Ok strike, bad entry.

 

[komrade]

Ok strike, bad entry.

Agreed not looking to enter just now. Waiting for a slight pull back, hopefully later today!

 

[CHGolferJim]

Is DCA purchasing = buying shares (dollar cost average) for future CC sales?

BTW, opened 3/10 -215/+225 BCS for 1.00

Wondering if it might be beneficial to sell x CC/week (or buy x LEAPs) of a certain strike/date to moderate price swings, seems like it would only work over 5-10 weeks for longer term options, e.g., Jun’25$250 might cost $60 a few days ago, $56 now, $65 next week and $50 the week after. Maybe it’s not worth the admin trouble.

 

[Max Plaid]

Closed my 03/03 P $190's just a bit ago for $0.15 each - Netting $3.15 for an overnight hold!

Also closed the Synthetic - Puts $190 for 03/10 opened for $6.50 late yesterday - closed $3.50 this morning
$190 Calls opened for $6.25 closed just now for $11.
Total net between the This weeks puts and next weeks synthetic - $10.90 per contract for less than a day.

Will stay opening and closing positions like this very nimble, but don't mind holding overnight.

Have a great weekend all - I'm off to get ready for F1 opening season in Bahrain and a Chili cookoff.

Sorry, OT: "off to get ready for F1 opening season" - you mean sit in front of the telly for FP1&2 or some other involvement?

OnT: put a $3.8 buy already for the -p195's sold earlier for $6.3, but looks like "they" decided to bring TSLA into the target zone for today's close - completely against the macro, of course

 

[Max Plaid]

3/17 $190 is a bit close for comfort given the recent weakness and congestion for TSLA, and macro jitters. Are you seeing something else? (unless you want the shares)

CPI data comes out March 14th, all logic points to inflation dropping dramatically from here onwards, if it doesn't then the numbers are cooked. Not many are understanding this, everyone seems to think inflation is "sticky", I don't. Not advice...

 

[Max Plaid]

Now looks like SP will again close between 195 & 200. Waiting to roll 195 calls. No escape from ER related calls yet ... !

Quelle surprise!