Wiki Selling TSLA Options - Be the House

[UltradoomY]

Is this something that you two could direct message with each other and figure out?
@EVNow and @Vova

And to keep on topic -
Just opened a Collar for next week -
- $185P's for $5 each
+ $190C's for $3 each
$2 credit per contract

Closed this out-
BTC $185P’s for $1.30
STC $190 C’s for $11
$11.70 each contract for less than 24 hours.

Could probably do better but I’m going to take the 100% in one day instead of waiting for the long weekend.
Cheers and good luck to all with ITM calls

 

[juanmedina]

I hope Tesla doesn't lower prices or do anything like that and ruin the run. I have 2/3 of my shares on $197.5 for next week. Do you guys feel like this run is temporary? It seems like this rally is fed by the AI craziness.

 

[EnzoXYZ]

Remember ITM -C are way less stressful than ITM -P or BPS especially if you are on margin.

Could this be the perfect storm we all are hoping for- Amazing outlook at the Annual Shareholder Meeting, Twitter new CEO announcement, and now Ford's partnering up with Tesla. Sure does feel like it at the moment.

I will be writing way more out of money -C going into next week. Got to be careful as I will have rolled -C for next week already.

 

[adiggs]

Rolled 190cc expiring today to 195cc for next Friday, and 195cc for 2 fridays out.

I split these up as the timing on these roles rolls made next Friday a credit in the first instance, and a debit in the 2nd instance. I sold these 190cc being ready to take assignment. My analysis amounts to collecting a credit and $5 strike improvement is a better outcome than I'd achieve if I take the cash and start selling puts. The credit is what I get for sure - the $5 strike improvement is some really nice icing for the cake.

 

[Max Plaid]

Damn this stock can be a beast!

Closed out the 45x -p185's early in the day thinking that was the pop, waited on the 90x -c185... DOH! Took big loss on those, but kinda covered by the underlying LEAPS going up, so I'm not going to beat myself up over it

Decided to enter the July 21th 1:3 -200 straddle, as discussed above, but with 60x calls and to weekly trade the 90x remaining, but had some kind of broker issue and ended up selling 180x instead of 60x!!! Didn't even think that was possible, but there you go. Managed to close 60x at a merger profit, then with the SP rising, decided to go with my original plan of 150x July -c200 and 50x -p200, so that's all setup now

Am I crazy? Maybe, but the underlying LEAPS are already up 20 - 30%, will win on the Theta decay for the July expiries. The way the markets have been I have no idea where we go, as I see the outcomes:

Many possibilities at expiry:
<200 5000x TSLA net cost $137
=200 +$20 per straddle
>200 +$45 to close out the lot

Of course if opportunity comes between now and then to take profits, will do so, will likely do some weekly put sells to keep things interesting

 

[EVNow]

Where are all the "MMs manipulate stock" people ? If MMs don't hedge, they will have massive losses on weeks like today. That is why they always hedge ...

OTOH, "hedge" funds many not fully hedged

 

[Max Plaid]

Where are all the "MMs manipulate stock" people ? If MMs don't hedge, they will have massive losses on weeks like today. That is why they always hedge ...

OTOH, "hedge" funds many not fully hedged

Here they come now... push below 190 for close...?

 

[BornToFly]

There was a well timed "leak" of confidential Tesla information and negative headlines in Germany....

 

[EVNow]

Here they come now... push below 190 for close...?

View attachment 941342

More likely day traders closing their positions and option buyers too.

WickedStocks has the long term resistance set around 192. 200 MA is around … $200. I should say listen to all these YT trader videos has given me an insight into how this might work. They all advocate liquidating position at resistance levels (and buying at support). We need long term investors to push the market up (or down) beyond support/resistance levels.

 

[EVNow]

There was a well timed "leak" of confidential Tesla information and negative headlines in Germany....

That came out yesterday and was covered by Rob of Daily Tesla.

 

[Jim Holder]

My best read atm is a rare expanding leading diagonal. This pattern tends to retrace deeply to the bottom of wave 2, plus the 78% level is typical. Timeframe 3 weeks. From here I'm looking for a bounce to 185 first.
View attachment 940676

Hi, any update on this given the recent price action?

 

[dl003]

Hi, any update on this given the recent price action?

TSLA peeked above the 0.618 fib channel level on Friday but ended up closing under it. 4h timeframe is showing double bearish divergence so I'm looking for weakened momentum from here. An immediate pullback is not necessary, especially if this macro short squeeze keeps on. If TSLA closes the day above 200, I'll get out of all of my short calls. The target for a pullback is 177. I'm still thinking 210 by 6/30 is safe.

 

[Jim Holder]

TSLA peeked above the 0.618 fib channel level on Friday but ended up closing under it. 4h timeframe is showing double bearish divergence so I'm looking for weakened momentum from here. An immediate pullback is not necessary, especially if this macro short squeeze keeps on. If TSLA closes the day above 200, I'll get out of all of my short calls. The target for a pullback is 177. I'm still thinking 210 by 6/30 is safe.

View attachment 942218

Thanks. By closing short calls if TSLA closes over $200, do you mean rolling up and out or closing even for a loss?

I have several:
6/30 -C220
7/21 -C240
9/15 -C250


Intent was to BTC on dips.

 

[SebastienBonny]

Knocking the 200-door right now premarket.
Going to be an interesting day.

 

[EVMeister]

Knocking the 200-door right now premarket.
Going to be an interesting day.

The door was opened.

 

[Jim Holder]

So today my work is to not panic myself out of my short calls at a loss.

I have:

• 6/9 -C210
(I expected it not to hit or to have a chance BTC on dip to 180)

• 6/30 -C215 and -C220
(same)

• 7/21 -C240
(same)

• 9/15 -C240
(I am okay it hitting and losing the shares, but might be worth to BTC at loss now to resell later for higher premium?)

• 1/19/23 -360
(Not likely to hit, but might be worth to BTC at loss now to resell later for higher premium?)


Any words of wisdom how to handle these properly is appreciated! I've bungled my past few short calls and trying not to do it again.

 

[BornToFly]

I have a few 207CC for Friday. The rest are 212.50. I may roll the 207 up and out to next week on any pullback this morning. Depends on premiums and strikes. I have found that if I roll early, I'm able to still get my 0.2 goal every week and stay ahead of the SP.

 

[UltradoomY]

Just STO $220C's for $1.50 for this Friday.

We are above the upper BB again and I think that we can stay there for 2 days after today - making Friday a red day to close out.
This would be a good jump to hit and I think that this is a good time to open some calls on a short week.

Not looking to roll these, would definitely be ok with converting shares to leaps at that price.

Good luck to all on the short week.

Edit - lol famous last words as these are now well red... Might open some more!

 

[phantasms]

STO $210 for $8.68 this Friday. [EDIT: accidentally was a monthly, closed it out] These are shares I'm loose wheeling and picked up with a ~$175 Put.

I'm going to be leaving my job soon so I want to get back into this CC game. [bullish lol]

 

[rikkert]

Just STO $220C's for $1.50 for this Friday.

We are above the upper BB again and I think that we can stay there for 2 days after today - making Friday a red day to close out.
This would be a good jump to hit and I think that this is a good time to open some calls on a short week.

Not looking to roll these, would definitely be ok with converting shares to leaps at that price.

Good luck to all on the short week.

Edit - lol famous last words as these are now well red... Might open some more!

Copied that trade (@ $1.45).

Also have $200CCs open with the same DTE. Hoping for a good moment to roll or close those.