Wiki Selling TSLA Options - Be the House

[Max Plaid]

General muted market response to slightly cooler CPI than consensus implies to me that it was already baked-in, as is a pause from the FED tomorrow

You would also think that there would be a strong desire not to pay out that c250 wall come Friday close

Of course with this record green run, option walls have been of little significance recently, but with it being triple-witching you would think there's a lot more at stake

 

[myt-e-s-l-a]

Rolling depreciating Put. TSLA @ 247.50

BTC +10x CSP tsla 230616P215 @ 0.50
STO -10x CSP tsla 230623P220 @ 1.73

for credit 1.23

Rolling depreciating p220 to close out remaining premium in 3d. TSLA @ 252.50

BTC +10x CSP tsla 230623P220 @ 0.80
STO -10x CSP tsla 230616P235 @ 0.90

for credit +0.10

 

[Jim Holder]

TSLA is going semi parabolic purely on call inflows. Right now I am still pushing my put strikes up to offset the growing loss on my -190C but when we see 265 that will be it for me. I’ll just use profits from the puts to roll them calls out to 1/2024, hopefully getting -300C for the money, then wait and see. By wait snd see I mean Im not going ITM with the puts anymore but rather $10 OTM. First we need to see a clear rejection to the downside, then a few down days before spiking again. Judging by the strength of that spike, we can then tell if its the last spike or not. Im still pushing my put strikes up because the initial rejection still has not happened yet. Crossing 260 will be an exception - too high for me to chase.

$255 seems to be decent rejection so far, yet bouncing on $251.50’s a few times. I guess Chop is on the menu today, though it’s nice to see some consolidation if that’s what it is.

 

[ReddyLeaf]

FYI, had a 6/30 -p260 exercised overnight. I had plenty of free cash in the account, but it really scared me. It was only one contract, but I had a significant number of IC and IB spreads in the account. I immediately sold a 6/16 -c260 for $4.70. There was quite a bit of time value (a couple $$) left on the puts, so I’m happy that someone was willing to give me that, and I immediately sold the call, so I’m up $7-8 or so, but still scared me. No margin in IRAs, so it dropped my cash by $26,000.

Because of this, I also spent quite a bit of time rolling out the remaining 6/30s to 7/21s (after earnings). Didn’t want to do it, but cannot afford any more early exercises. What this has done is that now I have received nearly as much premiums as the spread width, so I can afford to lose the entire spread. I’m back to a fairly decent cash balance, but wanted to swing trade some FOMC action this week. Now I’ve decided it’s too risky for my account.

Interesting observations on this process: calls are trading immediately, but puts are not. I had to trade the put spreads above the midpoint, almost at ask. So be careful out there. This rally is almost entirely driven by call buying and puts are harder to trade.

 

[BornToFly]

FYI, had a 6/30 -p260 exercised overnight. I had plenty of free cash in the account, but it really scared me. It was only one contract, but I had a significant number of IC and IB spreads in the account. I immediately sold a 6/16 -c260 for $4.70. There was quite a bit of time value (a couple $$) left on the puts, so I’m happy that someone was willing to give me that, and I immediately sold the call, so I’m up $7-8 or so, but still scared me. No margin in IRAs, so it dropped my cash by $26,000.

Because of this, I also spent quite a bit of time rolling out the remaining 6/30s to 7/21s (after earnings). Didn’t want to do it, but cannot afford any more early exercises. What this has done is that now I have received nearly as much premiums as the spread width, so I can afford to lose the entire spread. I’m back to a fairly decent cash balance, but wanted to swing trade some FOMC action this week. Now I’ve decided it’s too risky for my account.

Interesting observations on this process: calls are trading immediately, but puts are not. I had to trade the put spreads above the midpoint, almost at ask. So be careful out there. This rally is almost entirely driven by call buying and puts are harder to trade.

Really strange on the assignment. Less than $10 OTM with two weeks to go. Seems like a fluke because most people won't throw premium away like that.
Calls $5 or $10 OTM have better premiums than Puts right now, so the market seems to be pricing in a higher SP.

 

[chiller]

Wow, would not expect a P260 to be exercised now, especially not for 17 days out! Thanks for the data point, but would not expect that to happen often.

 

[BornToFly]

Market is pricing in a Rate pause. If they raise rates tomorrow watch out below....

 

[phantasms]

I was hoping they would still raise raises even before I got stuck in CC land.

 

[BornToFly]

New sell wall has appeared at 256. Maybe 255/56 is the top for today?

(Make sure "Live" is clicked)

June 13, 2023 || #Tesla #nvda #aapl #spy live level 2 stream

Stocks : #spy #qqq #tsla #nvda #meta #meta #goog #mrna #goldman #dis #xli #lulu #arkk Futures: #nasdaq #spyder #dowjones #iwm #bitcoin #bitcoins #bitcointrad...

www.youtube.com

 

[Jim Holder]

What a messy Friday coming up:

 

[Jim Holder]

New sell wall has appeared at 256. Maybe 255/56 is the top for today?

(Make sure "Live" is clicked)

June 13, 2023 || #Tesla #nvda #aapl #spy live level 2 stream

Stocks : #spy #qqq #tsla #nvda #meta #meta #goog #mrna #goldman #dis #xli #lulu #arkk Futures: #nasdaq #spyder #dowjones #iwm #bitcoin #bitcoins #bitcointrad...

www.youtube.com

I

It appears so, but GEX levels show air all the way up to $265 () and support at 252, 240, 230.

The question is it consolidating to go higher or lower...

 

[BornToFly]

Jan 2024 Calls are paying well. If my 280s survive Friday, I'm probably going to sell 425 or 450CC and be done until January.

 

[Jim Holder]

 

[myt-e-s-l-a]

Rolling depreciating p220 to close out remaining premium in 3d. TSLA @ 252.50

BTC +10x CSP tsla 230623P220 @ 0.80
STO -10x CSP tsla 230616P235 @ 0.90

for credit +0.10

TSLA is getting out of control. Going long and selling DITM CC

BTC +10x CSP tsla 230616P235 @ 0.45

Buy 1000 tsla @ 258.40
and
STO -10x CC tsla 230616C250 @ 11.50

 

[Cherry Wine]

Getting close to writing some Jan '24 $400s.

 

[treb]

Getting close to writing some Jan '24 $400s.

I wrote one today for $11 when SP was 253. Also wrote a Jan'25 600 for $15 when SP was at 257.

 

[UltradoomY]

View attachment 946562

I guess this is invalidated now...

Not sure how far we go but I need to do something with my $230C's for this week - probably tomorrow around 3pm unless we break $265 - not sure what to do at that point - will need to reevaluate.

 

[BornToFly]

Would somebody please buy a bunch of 265 calls for Friday to stop this madness!

 

[UltradoomY]

Would somebody please buy a bunch of 265 calls for Friday to stop this madness!

Just sold a $265 straddle for giggles.

$14 - just one

 

[Cherry Wine]

Would somebody please buy a bunch of 265 calls for Friday to stop this madness!

I mean, you're the biggest gun we've got on that score.