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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
You win I lose, I win you lose, will be fun
All that being said, "they" have kept TSLA around 185 nearly all week and volumes have been relatively low making it easier for them
Of course first of the bank earnings come out tomorrow, they could swing things either way
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I keep reading this and thinking there's a typo here. The alternative is I really don't understand.
Are these different expirations? Otherwise I read you're selling -p190s for 1 price, and selling more of them for a lower price. Given its a straddle I assume that one of these are calls, and the others puts.
I think I need to try out one of these straddles and see where it takes me. I know the guidance - I've certainly given it enough. Start small. We all make our own decisions, and experience our own consequences.
And for this - strictly csp and share backed cc, at least for me.
Given the apparent pinning of TSLA to $185 for several days and it surviving the drop to $179, do you still see $170-$165 before reclaiming $200-$210?
SpeedyEddy
Active Member
[Off Topic]Today I added the following shareholders-question via Say to be addressed in next earningscall: “Can you include megapack in future P&D (production and delivery) reports as they become more relevant?” If you agree then please vote. [/Off Topic]
You could search for “megapack” to find the question fast
You could search for “megapack” to find the question fast
Crap, yes, typo! Of course it's a straddle and that's 30x -c190's sold @$6.1, not puts... doh!!
And yes, all my positions are fully cash/share covered, and only 20% of shares at risk here - low-risk from a total portfolio perspective
Edit: aaaaand back to 185 at main pre-market open...
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Price cuts after price cuts. I think we have to be realistic and realize that margins are going to take a big hit. I understand that Tesla is lean and mean but there is only so much they can do. Is anyone buying puts for Q1? Depending on the where the margins are at for Q1 after the recent cuts analysis should be able to calculate Q2 margins and it might not look pretty. In the other hand Tesla might be the only company that shows decent profitable growth. Interest rates have reached or are close to their peak and might start declining.
I added more $210cc's yesterday. IV is still way too low. Hopefully early next week we see some good premium increase.
I added more $210cc's yesterday. IV is still way too low. Hopefully early next week we see some good premium increase.
You win I lose, I win you lose, will be fun
All that being said, "they" have kept TSLA around 185 nearly all week and volumes have been relatively low making it easier for them
Of course first of the bank earnings come out tomorrow, they could swing things either way
Looks like you win! Price drops overnight are taking the wind out of my sails...
Even with the Bank earnings beat - I am not going to be saved...
I won't be rolling - either take a loss or assignment on the -P's and let the +C's expire...
Maybe we get a head fake early and climb into close.
SpeedyEddy
Active Member
Bank earnings saved= no ratecuts necessary= bad for tech (incl TSLA) simple.
Bank earnings bad= fear in markets= bad for all stocks. That is why I was partially sidelined and waiting to sell puts.
(My Say question above is still awaiting approval)
Bank earnings bad= fear in markets= bad for all stocks. That is why I was partially sidelined and waiting to sell puts.
(My Say question above is still awaiting approval)
SpeedyEddy
Active Member
I might add that this order of ER-publishing may work out devastating. imagine today we go lower because of fear of interest-hike/stall and monday or Tuesday the first banks report weak results or balance-sheets (or high on HTM bonds, still reported at nominal value). I think Wall Street will now judge cash equivalents dropping as ‘bad’.
SpeedyEddy
Active Member
STO -P 182.50 for today (don't think to be, but may be assigned, would not be a bad price today, after 1.16 premium)
STO -P 175 for next week (into the rumour)
I guess, no more news to come, today's close around maxpain is to be expected by many (TSLA being 0DTE today: maxpain 185, trading levels around 183.75)
No further action over here from me today.
Oh yes: SPY will now hit the brakes, I guess (seeing price above both maxpain and optiontrading levels)
STO -P 175 for next week (into the rumour)
I guess, no more news to come, today's close around maxpain is to be expected by many (TSLA being 0DTE today: maxpain 185, trading levels around 183.75)
No further action over here from me today.
Oh yes: SPY will now hit the brakes, I guess (seeing price above both maxpain and optiontrading levels)
BTC 20x -c190 @5c net +$2.05) - sure these will almost certainly have expired, but I'm going out for dinner in a bit and don't want to be watching the SP all evening... that being said, I really do want my 10x -p190's to assign, but I think that's a given too and worst-case I can buy 1000 shares on open-market if needed
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This sucks. I did not think that the Friday before ER we would be down almost 2%, regardless of macro. I'm very worried about next week. I hate to spend a bunch of money buying Puts, but I might look into it.
100%
It does seem odd but maybe people are scared since the last pop on P&D reversed pretty quickly.
Parenthetically I wonder if there’s a pattern for TSLA of rally before earnings = dump after; dump before earning = rally after. Although maybe “this time is different.”
FWIW I closed today 2x 4/21 $170 bought puts for 28% gain instead of waiting for more since theta was destroying it and unless TSLA was $176 by Monday it’d be red. If you do BTO puts leave plenty of time.
OTOH if you have shares with CB in the $190-200 area and are willing to let them go at cost in case they get exercised, then selling -C for that area on pops and collecting theta sounds more profitable.
The market has definitely been acting strangely the past few days, not just TSLA.
STO x14 CC 7/21/23 $250 strike for $4.70. I plan to BTC once we drop below $175 for gains.
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TSLA Jul 21st 250 Short Call (14) | OptionStrat
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