Wiki Selling TSLA Options - Be the House

[Max Plaid]

Stan Morgan upped the TSLA PT from $200 to $250, but at the same time downgraded from buy to hold, looks like that's what's driving PM

Makes rolling the DITM calls a bit easier, but annoying for the weekly -p260's, although not unexpected...

 

[CHGolferJim]

Stan Morgan upped the TSLA PT from $200 to $250, but at the same time downgraded from buy to hold, looks like that's what's driving PM

Makes rolling the DITM calls a bit easier, but annoying for the weekly -p260's, although not unexpected...

Thinking we will trail off the rest of this week, but who knows?

 

[SebastienBonny]

Stan Morgan upped the TSLA PT from $200 to $250, but at the same time downgraded from buy to hold, looks like that's what's driving PM

Makes rolling the DITM calls a bit easier, but annoying for the weekly -p260's, although not unexpected...

Following Dan on Twitter. His "predictions" seem quite accurate, but some things are driven by this kind of news ofc...

 

[jeewee3000]

As I'm still wrestling ITM cc's the dip is very welcome.

I rolled a bunch out to September -210cc's, and split one of them up into six cc's, expiration 7/7:
2x -250c
3x -280c
1x -285c

This split/roll happened when TSLA was still around $230-$240, with the goal of having these 7/7 expire worthless or at least partly worthless (the $280's/285's). If so I can split the $250's again or let those assign to sell puts against. If we end 7/7 below $250 I'm splitting another $210cc into multiple parts to get out of the hole one by one.

TSLA @ $249 FTW

 

[Jim Holder]

TSLA giveth, TSLA taketh; may TSLA be blessed for all eternity, Amen

 

[elasalle]

Anyone considering ladder closing CC's a bit at a time ... or should we wait for more drip drip ...

*Cory (Stocks Channel) PT .. I scenario - Gap fill at 235 ...

 

[CrunchyJello]

Following Dan on Twitter. His "predictions" seem quite accurate, but some things are driven by this kind of news ofc...

Is that Dan Ives?

 

[UltradoomY]

Closed my 06/23 $275C's for $0.25 each - opened last week at $4.50

Glad I was at the beach this week and missed when they went ITM....

Just opened for next week 06/30 - $250P's for $10 each

Gotta love that opening IV spike!

Looking to open more $275's for next week on a pop. Looking for another $4 each or more.

Cheers

Edit - done - $5 each for the $275C's - 06/30 exp

 

[Max Plaid]

Thinking we will trail off the rest of this week, but who knows?

More puts than calls at 260, so we'll see...

I'd like some consolidation here myself, will, but with P&D next week I doubt it will stay here, numbers should be good, but then the margin-worry will start

 

[juanmedina]

More puts than calls at 260, so we'll see...

I'd like some consolidation here myself, will, but with P&D next week I doubt it will stay here, numbers should be goo, but then the margin-worry will start

Troy's delivery numbers went down on his last free update. It seems that Tesla changed the way they display inventory and Troy and other forecaster's are going to have a hard time figuring out the deliveries numbers which I like. I like some mystery.

 

[BornToFly]

I rolled my -265 Puts to next week for $3.8 credit. I will be surprised if they are ITM right before P&D numbers are released for what will be a new record for Tesla sales.

 

[BornToFly]

I rolled my -265 Puts to next week for $3.8 credit. I will be surprised if they are ITM right before P&D numbers are released for what will be a new record for Tesla sales.

Looks like if I had waited I would have earned more credit, or I would have been able to roll the strike down to 260 for credit. However it was a complete coin toss at the open which way the SP was headed today.

 

[EVMeister]

I know I said premarket is not that important before, but going up/down 1% premarket is a different thing than going up/down 4%.

Equally misleading, though?

 

[BornToFly]

Huge list of countries that have already sold more Teslas in the first 6 months of this year than they did all of last year. Just WOW.

https://twitter.com/x/status/1671821328515489798

 

[Jim Holder]

 

[ReddyLeaf]

Lots of bullish trades today. Golden cross tomorrow is pretty much a given right now. Wish I had the cash to buyback my 2025 short calls. Unfortunately, too much tied up in BPS, ICs, and IBs. I cannot commit anymore cash to options right now. Hmmmm, maybe just a couple 2025 +c400s.

 

[myt-e-s-l-a]

Rolling position and taking profits on the 1st leg (+10.30)
TSLA @ 262.25 -12.00

BTC +10x CC tsla 230630C260 @ 11.75
STO -10x CC tsla 230623C260 @ 7.50

for debit $4.25

Closing CC position and open new CSP @ 250.
P/L +4k on tsla +3.3k on CC

TSLA @ 262.05 +2.59

BTC +10x CC tsla 230623C260 @ 4.20
Sell 1000 tsla @ 262.00

open new position

STO -10x CSP tsla 230630P250 @ 4.50

for credit $4.50

 

[Patrick66]

Yeah, we're all a bunch of gamblers! So how did you manage the covered calls around the Hertz Deal and last year's constant decline?

I don't continuously write contracts, generally just when the market seems overly distorted. The gyrations of media sentiment are one of the things I watch to see if it is overly negative or positive.

Last year was rough; I slugged out some gains for cash flow, but got a good bump from Q1 delivery results and earnings. Took a significant hit in December from this strategy. Elon's selling BS was a big part of my pain.

 

[Patrick66]

Could you explain the rationale to purchase deep ITM LEAP calls if your covered calls get assigned? I have been doing the relatively safer CC and CSP as well. Just want to reduce my cost basis over the time and keep the shares longterm

I use them as a share substitute for leverage or to reduce my committed capital. I might pick an entry point where premium + intrinsic value = half the share price, and either buy twice the number of options as I sold shares, or the same number with half the cash off the table. If the contracts are two years out to maturity I have that much time to raise the capital, or to sell off some contracts to raise capital. I try to ladder options in strike price and expiration to smooth things out.

I specifically DO NOT want to lower my cost basis over time; I want to realize gains and pay taxes in a managed fashion. This isn't necessarily the best tax strategy, but it helps to even out income over time and make sure that I always have some gains in the lower tax brackets. I make sure most of the gains are long-term (again, trading around a position). This helps to free up capital for opportunistic investing.

 

[Jim Holder]

I use them as a share substitute for leverage or to reduce my committed capital. I might pick an entry point where premium + intrinsic value = half the share price, and either buy twice the number of options as I sold shares, or the same number with half the cash off the table. If the contracts are two years out to maturity I have that much time to raise the capital, or to sell off some contracts to raise capital. I try to ladder options in strike price and expiration to smooth things out.

I specifically DO NOT want to lower my cost basis over time; I want to realize gains and pay taxes in a managed fashion. This isn't necessarily the best tax strategy, but it helps to even out income over time and make sure that I always have some gains in the lower tax brackets. I make sure most of the gains are long-term (again, trading around a position). This helps to free up capital for opportunistic investing.

I also BTO a handful of LEAP calls (+C150 12/2025; around $14k per). It’s my first time wading into buying LEAPS. I like the fact that I could have exposure to upside with almost half the expense buying shares outright.

Can you share some more rules/tips you’ve learned regarding managing LEAPS that are two years out for maximum effectiveness?

Thanks in advance!