Wiki Selling TSLA Options - Be the House

[UltradoomY]

Made some purchases this morning - 2 weeks (06/21) out on the SPY Puts - 420P - $1.80 each
More $205P's bought on TSLA this morning $1 each - 06/16

Sold some more $230C's for 06/16 - $6 each

If I'm wrong I can always roll these out and up to past $250 for a cash conversion. If I'm right about next week I uncover and bank - waiting for the following week to run into P&D report.

 

[BornToFly]

I sold 100X naked calls for next week - 300 Strike. I think it is a safe $1,000.

 

[Right_Said_Fred]

I sold 100X naked calls for next week - 300 Strike. I think it is a safe $1,000.

That sounds pretty safe. I've never really understood these high premiums for strikes that are unrealistically high. When the SP is running up even short term calls tend to get a long tail.

Worst thing that can happen, imho, is that you have to roll them out by one or two weeks to an even more unrealistic strike.

 

[intelligator]

Ugh, stuck with these two losing spreads that i don't want to roll to next week or the week after. Any suggestions? I'll take a small debit to improve strike where I can.

6/9 -c227.5/+c237.5
6/9 -c230/+c240

EDIT: As an example, I can roll first spread same width to next week 232.5 for .12 , opened it at 1.00 ... but is it just as, if not more, risky? We also just bumped up against, testing, 11/1/2022 price that quickly accelerated downward.

 

[Jim Holder]

I sold 100X naked calls for next week - 300 Strike. I think it is a safe $1,000.

Doesn’t that use a ton of margin?

 

[BornToFly]

Doesn’t that use a ton of margin?

Yeah, it used around 600k

 

[BornToFly]

Ugh, stuck with these two losing spreads that i don't want to roll to next week or the week after. Any suggestions? I'll take a small debit to improve strike where I can.

6/9 -c227.5/+c237.5
6/9 -c230/+c240

EDIT: As an example, I can roll first spread same width to next week 232.5 for .12 , opened it at 1.00 ... but is it just as, if not more, risky?

How high can you roll if you give the entire 1.00 back?

 

[intelligator]

How high can you roll if you give the entire 1.00 back?

235 for the 227.5 spread. 243.33 for the 230 spread. But that ship sailed.... I can widen and go to 240 on the 227.5.

 

[BornToFly]

Feeling Squeezy! I have 280CC for next week I'm starting to worry about....

 

[juanmedina]

Wow we are up 40% since the 16th. I should have roll my calls early this morning.

 

[EnzoXYZ]

Wow we are up 40% since the 16th. I should have roll my calls early this morning.

Great from my long term shares but sucks for my ITM CCs. In back of my mind I keep thinking why can't TSLA be near ATH like all other big cap tech stocks. $420 here we come?!?!

 

[Knightshade]

Well looks like we keep rejecting around 233 so I finally sold off my 200 and 233.33 Jun 16th calls that I overpaid for back when the stock was much higher, losses only in the 80s percentile instead of the ~99% they were most of the year....that's win, right?

Now to figure out what to do next with the (now significantly smaller) amount of FAAFO money...

 

[scubastevo80]

Trying to roll all of my garbage covered calls, otherwise I'm going to be stuck getting called out of most shares in the $190s.

 

[myt-e-s-l-a]

Rolling above put. Hopefully it will expire worthless in 2d. TSLA @ 224

BTC +10x CSP tsla 230616P200 @ 0.60
STO -10x CSP tsla 230609P215 @ 0.84

for credit 0.24

Rolling expiring put. TSLA @ 232.50

BTC +10x CSP tsla 230609P215 @ 0.05
STO -10x CSP tsla 230616P215 @ 1.55

for credit 1.50

 

[Jim Holder]

Can someone pull the plug on TSLA for a few days?

Waiting for that breather to manage some short calls and open some CSP’s.

Talk about froth...blow off the top...or maybe "this time is different" and "don't fight the trend..."?



GEX showing room to $240 and it hasn't changed all day:

Bookmap:

Netflow:

TSLA is well above all EMA's on the Daily and BB angry for stretching so much. Anyone know how long that lasts in the past?

 

[Jim Holder]

-P225 6/9 is offering peanuts ($0.50)
Does this imply MM don't expect $225 tomorrow? Is there a correlation?

 

[MikeC]

These relentless 2-3% daily increases are running over my CCs like the slow motion steamroller from Austin Powers while I watch helplessly.

 

[bingoz]

-P225 6/9 is offering peanuts ($0.50)
Does this imply MM don't expect $225 tomorrow? Is there a correlation?

It's normal after a 4.3% up day + 1DTE.

 

[Vova]

-P225 6/9 is offering peanuts ($0.50)
Does this imply MM don't expect $225 tomorrow? Is there a correlation?

No, price perfectly matches with the 225 call.

You can also compare the 225 put with the 234 call.

 

[Jim Holder]

I’m looking to go long several hundred shares as reserve for some short calls, but “never buy at resistance/top” right? But then I missed $221 and $230.

Would any of you long here or TSLA is bound to come back to earth soon?