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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
EVNow
Well-Known Member
Max Pain will come down. The more time SP spends around 160, more likely 160 is Max Pain - as people tend to buy calls above current SP and puts below current SP.
In for May 5 145/135 put spreads at .79.
I find myself moving to next week options, especially when I can get so far away from the share price and still get a decent premium.
I find myself moving to next week options, especially when I can get so far away from the share price and still get a decent premium.
At this small of a degree I try not to rely too much on EWT as the small volume and high gyration can muddy the count. This purple sequence is wave 5 of C - the final drop. It could have been completed at 158.8 or working on wave 5 of one lower degree, targeting 157-156. All within a reasonable margin of error. Selling new calls here I think is ill-advised.
Yup. I closed my sold CC’s @ low today for nice gains. Sitting out and waiting for next spot to sell again. Dealer deltas aligns well with your data as well, turning bullish (from screaming short) earlier today.
Yeah - its an ambiguity in how I think about and report on my trades. Since ~100% of what I do is selling options, the 'interesting' option is the short. With puts that is also the higher strike, so I think of it as a 145 put, with a 135 put as insurance.
I'd say that it pretty much only makes sense in the context of this thread and this community. The more robust and complete representation might be -145p/+135p if I want to keep that sequencing. Even better is +135p/-145p.
I apologize for any confusion. The rare times that I do purchase a position, that is always clear, because it gets more attention than just the position. It also always need some explanation, if for no other reason for me to be clear with myself why I'm buying
EVNow
Well-Known Member
Since I want to re-enter at a "good" price - I've been wondering whether to sell puts or call spreads.
If I sold this -145/+135 .... in case the SP drops to 145, which is a good price to buy at, I'd have to buy back the puts sold increasing my cost per share. So, I've been selling call spreads ...
Ofcouse, one could say if SP drops let the put expire and get assigned. But in reality, most likely low prices will be hit once and the SP will bounce back. Otherwise it is not the bottom and I don't want to buy at that price
I'm very curious on what basis people here think selling calls is a bad idea and that the SP might rise, I cannot remember the last time sentiment was this low, what catalysts do we see that will bring in buyers? Furthermore, even if the SP did rise, I doubt it will be rapid
Yes, deliveries look great, but I don't think positive deliveries matter right now, the whole narrative has shifted to margins - and the fact that Tesla's margins are way better than the industry average, even after the price-cuts, is irrelevant especially given the seemingly endless price-cuts since the beginning of the year; there's no confidence that the (lower than expected) margins from Q1 will be maintained, never mind improved
For my side I'm thinking to go nuclear with -c160's, tbh even that seems quite conservative. All we need are poor tech earnings from some other big players and everything will head south
This isn't an emotional response by any means, I'm just thinking how to maximise the current state of play
Yes, deliveries look great, but I don't think positive deliveries matter right now, the whole narrative has shifted to margins - and the fact that Tesla's margins are way better than the industry average, even after the price-cuts, is irrelevant especially given the seemingly endless price-cuts since the beginning of the year; there's no confidence that the (lower than expected) margins from Q1 will be maintained, never mind improved
For my side I'm thinking to go nuclear with -c160's, tbh even that seems quite conservative. All we need are poor tech earnings from some other big players and everything will head south
This isn't an emotional response by any means, I'm just thinking how to maximise the current state of play
I agree with the general bearish sentiment right now. Tesla is trading with a 2-4X negative macro beta, and I think the markets are going to go lower with earnings the next two weeks. So I just sold 4,000 shares in pre-market. I've always struggled with the idea that cash is a position because I'm afraid to miss a stock rise. But I'm going to look at premiums this morning if the SP drops, and look at selling 40X 150 Puts for this week, or maybe 140 strikes for next week.
SpeedyEddy
Active Member
If @dl003 is right, you loose @Max Plaid. 157 can be a bounce (gap&fib).
[/Off topic] Got some money on the sideline too and tomorrow planning on making use of the strange 8:01-8:03 glitches every day, that struck me. You could make a quick buck on these by placing Buy order at -50cts and sell order on+50 cents for equal amounts of shares and maybe you get filled both. A dollar in a minute each.
Anyone an opinion about this [/On topic]
[/Off topic] Got some money on the sideline too and tomorrow planning on making use of the strange 8:01-8:03 glitches every day, that struck me. You could make a quick buck on these by placing Buy order at -50cts and sell order on+50 cents for equal amounts of shares and maybe you get filled both. A dollar in a minute each.
Anyone an opinion about this [/On topic]
Just noticed that I had 4x July -p250's assigned overnight, was going to buy them back anyway, so no big deal...
I'm still thinking somewhere around the 156 level is the bottom, but this can drag out a bit longer than I thought. Unless we can break above 167, this bottoming process can take another week.
SpeedyEddy
Active Member
Looks like institutional are getting in (big portions bought...) (Gamma) Squeeze incoming? (far too soon to tell for sure!!)
SebastienBonny
Member
Just bought back 05/05 180 CC for 0.62 (sold for 1.55 last Friday) or 60% gain.
Grabbing what I can and 60% in 2 days for a contract that expires only next week is a no brainer.
Opens up the shares again for new opportunities.
Grabbing what I can and 60% in 2 days for a contract that expires only next week is a no brainer.
Opens up the shares again for new opportunities.
I am a master trader. I am a master trader. I am a master trader….
Tsla isn’t dying this morning. Limit order to buy them back. FOMO is real with me….
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