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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Nice lift from the MMD... but may see it stall here. I'm still holding -c167.5/+c157.5 , now tempted to close half.
Lots of money to be made here trading in/out of positions, but impossible as I’m visiting Philadelphia today
So just holding the 167.50 straddles - my risk management is to only have written against 40% of my cash and 20% of my LEAPS - fairly easy to add more contracts in either direction in case of a roll. And if the SP were to really dump then I’ll be delighted to buy back some shares
On the subject of risk, it’s my observation that if you take profit on every trade, even 10% you’ll accumulate very fast, but it’s psychologically difficult
So just holding the 167.50 straddles - my risk management is to only have written against 40% of my cash and 20% of my LEAPS - fairly easy to add more contracts in either direction in case of a roll. And if the SP were to really dump then I’ll be delighted to buy back some shares
On the subject of risk, it’s my observation that if you take profit on every trade, even 10% you’ll accumulate very fast, but it’s psychologically difficult
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Update - Sold more $180P's this morning for $15 each....
Gut feeling only - not financial advice.
Giga Shanghai news this morning on both expansion and Model 3 - Freemont model 3 line, lots of good news!
Thank you. I didn't expect a 5 points bounce like that.
My pleasure
This stuff really messes with my head. Of course I BTC at lows of the day when TSLA appeared to be breaking down.
Now the question is whether to short here. I'm not, the whole point was to be flat into tonight.
Still holding 170-175 calls and 170 puts. Shareholders meetings have usually been non-events but I think there’s more fear around this one because of the dump we took after Elon sold last year.
Given the stock price performance over the last 1.5 years, I think they want to put their best foot forward today. I don’t see them saving bad news to drop on us, and I’m still holding out hope for a buyback announcement.
Hoping to buy to close some 170c on a dip before end of day. I still think we’re range bound until we have concrete signs of margin improvement but wouldn’t be surprised with a small bump since we didn’t really get any buy the rumor.
Given the stock price performance over the last 1.5 years, I think they want to put their best foot forward today. I don’t see them saving bad news to drop on us, and I’m still holding out hope for a buyback announcement.
Hoping to buy to close some 170c on a dip before end of day. I still think we’re range bound until we have concrete signs of margin improvement but wouldn’t be surprised with a small bump since we didn’t really get any buy the rumor.
Ended up closing this BPS for a 10% loss, (gave back premium +) which isn't terrible as a de-risk move. Will look for a position to recover and call it a wash.
EDIT: I realize now I reported the position as call spread, it was a put spread all along. I didn't want to risk having shares out to me at 167.5 if we may head down.... Small loss until a new direction forms, it is.
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I'm surprised at all the buying (green blobs) heading into the event.
Maybe we're being a bit overly worried?
Red cones on right is stacked selling orders. Green cones buy orders.
Red blobs = selling (bigger is stronger); Green blobs = buying (bigger is stronger)
Here's a link to a YouTube channel that posts a free stream of the bookmap for a few Beta stocks, incl. TSLA, live daily. Need to refresh each morning via the channel:
Maybe we're being a bit overly worried?
Red cones on right is stacked selling orders. Green cones buy orders.
Red blobs = selling (bigger is stronger); Green blobs = buying (bigger is stronger)
Here's a link to a YouTube channel that posts a free stream of the bookmap for a few Beta stocks, incl. TSLA, live daily. Need to refresh each morning via the channel:
I bought some puts for next week because I was feeling nervous. I hate throwing money away but at least I am just giving back some of my wins just in case. I also sold some $185cc for next week at $0.95.
I want to be a little cautious too. Which Puts did you buy?
Anyone else's thoughts? Thanks.
This is the first time I ever bought insurance puts and I got them to soon... $157.5, $150, and $140's for next week.
Thanks, The few times I've bought them, I'd wished I'd bought later expirations...
EVNow
Well-Known Member
We almost always see some FOMO leading up to any event. Besides there are day traders who will buy at support and sell at resistance - perhaps even creating that support and resistance ...
This is great. Wish I had found this earlier.
Make sure to always check that LIVE is clicked. Otherwise the data is stale. If I go to another tab and come back, sometimes it's no longer LIVE. The red dot indicates that it's live. Otherwise it can really mess you up.
Position in profit. I just need to buy a June call to keep margin low. Probably I will pick the 210 call. But I have till Friday to make up my mind.
Closed 9x -c170c at about breakeven. Holding 5x -c170; 10x -c172.5; 4x -p170.
Hoping for some catalysts to get the share price moving up again but I'm prepared to be disappointed.
Hoping for some catalysts to get the share price moving up again but I'm prepared to be disappointed.
It seems that I wasted my money on puts but that makes me happy.
EVNow
Well-Known Member
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