Wiki Selling TSLA Options - Be the House

[KTC Lurker]

View attachment 934797

10:08 ET snapshot

What tool is this?

 

[jim0266]

What tool is this?

Bookmap.

To answer bingoz, I'm new to this tool so have an elementary understanding of the tool. Interesting to see where the walls and support are.

 

[Jim Holder]

Bookmap.

To answer bingoz, I'm new to this tool so have an elementary understanding of the tool. Interesting to see where the walls and support are.

I’m somewhat familiar with this tool. The red on the right of the prices represent the sell orders/selling pressure (i.e., resistances, but sometimes price-action chews right through it). The green are buy orders.

The red orbs to the left indicate selling dominating. The green indicate buying dominating.

 

[dl003]

Still following the January playbook to the T. Next stop is a test of the hourly 200 EMA. Rejected there to pull back and retest the breakout level @ 165, then up we go. Will Tesla raise prices some more? I don't know. I just follow the chart.

 

[Jim Holder]

View attachment 934802
Still following the January playbook to the T. Next stop is a test of the hourly 200 EMA. Rejected there to pull back and retest the breakout level @ 165, then up we go. Will Tesla raise prices some more? I don't know. I just follow the chart.

Given the strength (finally!), if we pass $170 today or early next week, are 5/12 (next Friday) open $180 -C still safe?

Also, what cadence are you seeing for “off we go”?

Thanks again!

 

[Jim Holder]

How to sell puts into this rally if you're afraid it's a bull trap: wait for 170. If we see 170, then it's not a bull trap. Then wait for a pullback to 165 before selling puts aggressively.

Thanks.

What are your thoughts on how to sell calls into this rally?

 

[dl003]

Given the strength (finally!), if we pass $170 today or early next week, are 5/12 (next Friday) open $180 -C still safe?

Also, what cadence are you seeing for “off we go”?

Thanks again!

Not gonna happen. Will pull back before 171.5. If we make a $10 green candle on some news then I'll redo the chart but right now there's no point considering that possibility.
Just up. I don't know the slope yet.

 

[Max Plaid]

RIP -c150’s

 

[Jim Holder]

Not gonna happen. Will pull back before 171.5. If we make a $10 green candle on some news then I'll redo the chart but right now there's no point considering that possibility.
Just up. I don't know the slope yet.

Thank you. “Not gonna happen” you mean not likely for TSLA reaching $180 by 5/12, right. Just double-checking.

 

[Right_Said_Fred]

RIP -c150’s

I'm glad you're still holding up (as far as I can tell from that emoji). What's your plan for the ones you rolled and did not want to be assigned?

 

[dl003]

Thank you. “Not gonna happen” you mean not likely for TSLA reaching $180 by 5/12, right. Just double-checking.

Not going to shoot past 171.5 without a pullback.

 

[Jim Holder]

Not going to shoot past 171.5 without a pullback.

Thanks. So even though another $10 candle not likely next week, prolly safer to BTC -C180 5/12 at pullback to $165 as you mentioned earlier, vs let them ride out to Friday.

 

[rikkert]

- STO 5x May12'23 180 call @ $0.75
- BTC 1x May12'23 155 put @ $0.95 (85% profit)

 

[dl003]

Thanks. So even though another $10 candle not likely next week, prolly safer to BTC -C180 5/12 at pullback to $165 as you mentioned earlier, vs let them ride out to Friday.

Yes. At this stage one needs to be surgical with call selling. If you wait for the "news" to come out to validate a rally, it'll already be too late.

 

[intelligator]

The chartist in me say 100% safe but the TSLA bull whispers "what if?". However, before breaking 171 we should pull back to retest 165 once, if this rally has legs. I'll close these calls on that retest.

Opened 5/12 -c177.5/+c187.5 @ .80 , setting a closing order at .60 , which should be near 165. Otherwise, will ride out over weekend , burn theta , manage Monday, reload if needed.

 

[dl003]

I'm not much of a TA believer either but it's used almost everywhere as a platform for trade ideas. Not sure it makes much sense in a dedicated Tesla options thread but that's proven to be a dead horse. Hopefully very few folks are seriously trading from these ideas.

Yeah, hopefully very few people followed my bottom call @ 152.3. Everyone should have sold their shares in the 150s as $0 is the bottom.

 

[Max Plaid]

I'm glad you're still holding up (as far as I can tell from that emoji). What's your plan for the ones you rolled and did not want to be assigned?

I rolled my 90x core shares to next week for +$1, and let my trading shares exercise to sell puts…

I think there’s a lot of euphoria around tech earnings, with disregard to the wider economic outlook

 

[EnzoXYZ]

Anyone selling Calls into this rally?

 

[chiller]

Anyone selling Calls into this rally?

I am, but feels like I'm playing with fire!

Having to roll sold calls is however a problem I look forward to having.

 

[Jim Holder]

I am, but feels like I'm playing with fire!

Having to roll sold calls is however a problem I look forward to having.

Me too on both. Some 6/24 -C300 (for the 0.22 delta and above my CB). Looking to BTC on retest of 165.

Also STO at peak today 30x 5/12 -C180 and 60x -C182. Hopefully we get a chance to BTC for gains.

I’m all for TSLA getting back into an uptrend, just at a pace that doesn’t decimate our short calls ;-)

I’d love to see $200+ by June.