Call open interest increased most strikes above 172.5 inclusive, Put interest increased at same 172.5, more so at 170 followed by 167.5 and 165.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
I was just comparing this to the max pain chart as well.
Seems that if CPI comes in cold tomorrow that the call wall at 175 and 180 could be in jeopardy quickly.
I closed my $165P's yesterday for $1 and only have the Call side of my Straddle left ($165) - will be looking for an exit today if possible with a good dip.
With the set up running the way it is I will probably be switching back to Collars for next week - Sell a Put and Buy a Call with the proceeds and pocket a small credit.
Really liked these (Collars) from the run up from $102 - $217, with this next impulse wave this might play well again.
Good luck to all.
Does this imply the MMs would aim for/prefer a close this Friday just below $170?
EVNow
Well-Known Member
Market Makers don't manipulate the market. That's just a conspiracy theory. They are fully delta hedged and don't care how the market moves.
I’m not smart enough to know either way. PoppaFox seems to believe it’s true, though sometimes the market gets away.
Let’s use the word prefer, would they prefer a close just below $170 this Friday based on the positioning noted above?
Also, if it’s not the MM’s tools, how does the SP drift to the precise close—sometimes to the penny—that benefit MM’s? I’m not intending to start a debate about manipulation or not, just genuinely curious.
@UltradoomY I pickup the data from max pain, the morning of. EDIT: Love your comment on later post implying "Velocity is ramping to the upside"... I sense the same. Thanks for that perspective.
@Jim Holder , *my understanding* is that MM provide liquidity, they buy when everyone wants to sell, sell when everyone wants to buy. Depending on their position and need to hedge, rebalance, they may drive the bid/ask spread of options and underlying as well.
@Jim Holder , *my understanding* is that MM provide liquidity, they buy when everyone wants to sell, sell when everyone wants to buy. Depending on their position and need to hedge, rebalance, they may drive the bid/ask spread of options and underlying as well.
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EVNow
Well-Known Member
Yes, it's a popular conspiracy theory. Doesn't make it true. Just see last week...
SP tends to gravitate towards max pain because of people closing their options which makes MMs adjust their delta hedging.
Personally I've seen SP get affected when I used to buy/close large number of options. There were even comments in the market thread at that time saying MMs are not letting SP go above a certain price point... I was just selling to close options.
Understood - just remarking on the movement between the way it is posted with your graph and the max pain chart
Velocity is ramping to the upside it seems - could be a rug pull but *most* of the data is priced in now, so any positives are adding velocity to the impulse wave - IMO
In addition (and thankfully) there seems to be zero anticipation for next weeks AGM and not many rumors of "one more thing" it seems.
BTC @ MMD 168.31 for 88% gains. Will STO more back over $172.
Added 10x -P160 5/12 at $.70, total now 40x avg 0.66. I plan to BTC the puts at next highs over $172 for 90% or let it run to Friday. If TSLA breaks below $164 after CPI I’ll monitor and consider closing before the L becomes too big.
Rolled 10 x p155 for this week to 10 x p160 for next week, receiving a net premium of $2.00 (I like round numbers).
That's usually a good indication that we will go down more, but that's okay, the c180s I sold for 26 May wouldn't mind.
That's usually a good indication that we will go down more, but that's okay, the c180s I sold for 26 May wouldn't mind.
Closed these out. Still holding 10x 5/12 -150c for now.
STO 30x 5/19 -p162.50 @$3.1
Still holding those 90x 5/12 -c150's, have decided to let them run, who knows, maybe CPI crashes the markets tomorrow, or maybe TSLA goes to the moon... we will see
Still holding those 90x 5/12 -c150's, have decided to let them run, who knows, maybe CPI crashes the markets tomorrow, or maybe TSLA goes to the moon... we will see
I closed the $182.5 at 80% profit. Hopefully we get a green day tomorrow.
FYI lots of chatter for a while that 5/19 will be deep lows based on option positioning and other factors. Are you seeing that too or you’re confident in TSLA not being below $162.50 by 5/19 (or plan to BTC on push)?
Closed -c177.5/+c187.5 at 43% , I have an order partially filled (1 of 20 ??? ) for .20 to close -c180/+c190 , which would capture 66%. This is an example of MM selective how many pennies they'll give up , perhaps.
In for 152.50/145 put spreads on 5/19 (.60).
My recent experience is that I open positions for next week, and see enough profit this week that I close them this week. Of course I'd like that to repeat. In the past it was opening this week and closing this week. I don't have any deep insight into that - just an observation.
My recent experience is that I open positions for next week, and see enough profit this week that I close them this week. Of course I'd like that to repeat. In the past it was opening this week and closing this week. I don't have any deep insight into that - just an observation.
I see MP is 170 for 5/19, but there's quite some calls 160 and above, although they're mostly neutralised by puts... who knows what will happen, sometimes it plays out sometimes it doesn't
I've almost got +$1 on a roll of the 90x -c150's to next week, would likely take that if it was offered (I have no roll function, so need to monitor manually and do the necessary buy/sell separately)
I'm still wary of the 146 gap...
I'm holding out for announcement of debt ceiling talk outcomes this afternoon and CPI print tomorrow morning for a potential market dump before rolling my -c150s - would get much more credit if rolling when stock is in low $160s. Of course the risk is the market goes the other way and I get way less, but then I'm content to re-sell OTM calls closed earlier today.
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