Closed these out just now for $4.95. At 24 weeks remaining to expiry, I need to average just $0.21/share per week to exceed the premium that remained. I rolled them down and in to 10x 8/11 -c280s at $0.52.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Closed these out just now for $4.95. At 24 weeks remaining to expiry, I need to average just $0.21/share per week to exceed the premium that remained. I rolled them down and in to 10x 8/11 -c280s at $0.52.
Rolled the 25Aug$300 to 11Aug$275 for a small credit. Hope to take these off the board next week, and have the 15Sep$300 assign. Gradually getting out from under all these DITM CC, maybe can get back to earning income in a month or two.
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SpeedyEddy
Active Member
Of course rolled -cc240 (too early alas) and was thinking about a few more LEAPS, but remembered I would wait for bottoming out to go even more aggressive. @SP240 I will make a little buy of ITM/ATM ones.
So, what was that all about today, anyone have any ideas?
Only thing I saw was some rhetoric from Biden's administration about setting China investments, but this coincided with the start of the dump at 14:00 EST
Hopefully will bounce Monday
Only thing I saw was some rhetoric from Biden's administration about setting China investments, but this coincided with the start of the dump at 14:00 EST
Hopefully will bounce Monday
$240's next week? I am thinking about taking a $2.5-2k lost per contract to free up my shares. I don't think I am patient enough or that we will see $220-215 soon.
Cleared out all my 260 CCs and started feeling naked so opened some 270 and 275 CC for next week.
I’m tempted to just open ITM CC. I didn’t mind having them too much (as long as they were reasonably near the money) - they were kind of a downside safety blanket for days like today. But they’ll be more profitable if I just sell them ITM in the first place as opposed to selling OTM calls and having them end up ITM.
I’m tempted to just open ITM CC. I didn’t mind having them too much (as long as they were reasonably near the money) - they were kind of a downside safety blanket for days like today. But they’ll be more profitable if I just sell them ITM in the first place as opposed to selling OTM calls and having them end up ITM.
^^^ thinking the same, but not so ITM. I'll open each opportunistic, 8/11 +p225/-p235 BPS and -C275 CC ... checking next week traded volume and gamma (per today), looks similar to todays read this morning, 255 being the middle +/- $5. Never a guarantee or hint of ending the week there. Then the weekend seems to always create turmoil.
What I see to my very untrained TA eye is low volume, low RSI (weakness), and a share price that keeps bouncing back from touching the 50 day MA. I don't see holding the 50 day.
My own bias is more down than up, probably for 4-6 weeks, which my 200 strike cc would appreciate
. Down or up, I don't expect anything particularly dramatic in the move (down to 220 or 230?). Somewhere in the 230 range is where I'll do some share buying for sure, and then probably load up at 200.
My own bias is more down than up, probably for 4-6 weeks, which my 200 strike cc would appreciate
. Down or up, I don't expect anything particularly dramatic in the move (down to 220 or 230?). Somewhere in the 230 range is where I'll do some share buying for sure, and then probably load up at 200.
Yeah, Dan is also saying that TSLA is right on the 50 day MA. He doesn't know if it holds it or not, but is saying that if it drops below, then more downside likely.
Edit: He is not saying to short it yet. He doesn't anticipate/guess. He is waiting for confirmation, then will short it.
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I usually follow The Daily Trader. Somehow I missed his video on Thursday. I wish I had watched it. At the open yesterday with everything going green, I decided to roll up for a debit a couple of Jan 2024 280CC to 350CC in my son's account. I should have sat on my hands and not lost the money.... He is also saying that TSLA is not a buy right now. I might roll down my naked calls for Friday for more premium....
A summary of @dl003 's prediction from a few weeks ago -- looks like we are between 2 and 3:
1) Net long delta to $296, then close positions and observe.
2) If we are rejected at $296, wait for a retest of $230-$217.
3) If $230-$217 holds, then net long delta for another test of the resistance trend line later this year. Know that the subsequent correction will reach the low from the rebound ($217 or whatever it'll be).
4) If $217 doesn't hold, then be defensive until we've bottomed out.
5) If we break $296, then net long delta to $340.
6) At $340, lighten up position and prepare for the pullback to end at $270, then at $270 net long delta to $380.
7) At $380, close all long positions.
1) Net long delta to $296, then close positions and observe.
2) If we are rejected at $296, wait for a retest of $230-$217.
3) If $230-$217 holds, then net long delta for another test of the resistance trend line later this year. Know that the subsequent correction will reach the low from the rebound ($217 or whatever it'll be).
4) If $217 doesn't hold, then be defensive until we've bottomed out.
5) If we break $296, then net long delta to $340.
6) At $340, lighten up position and prepare for the pullback to end at $270, then at $270 net long delta to $380.
7) At $380, close all long positions.
STO 89x 8/11 -c260 @$3.1 in the opening pop - this news is very bearish for this week I feel
Zach was good, but this does seem just a TAD abrupt..hmm. I think I’m going to have to adjust my levels.
JakeP
S P4996 ==> P02547
He’s worth $100M and likely doesn’t need to work another day in his life, but man this doesn’t smell good.
Zack is staying at Tesla until the end of the year, do nothing untoward it seems, he's probably just burned out and as rich as he ever needs
Abrupt? He is staying on for almost another 5 months to make a smooth transition...
The amount of dedication and hard work required at Tesla is about twice the average regular work hours of other companies. At some point they probably have to choose between dedicating their life to Tesla mission or have a balanced life with wife and kids. When you have 100M the latter might become more and more attractive as people who also stopped working here when TSLA 10x-100x in their portfolio probably understand. Let’s thank the guy for giving 13 years of his hard working existence to the TSLA mission and let’s hope they find someone as smart and hard working to replace him at the end of the year.
I guess it was a good moment to buy puts when SP was around 290 but let’s see how much more it moves down with this piece of news.
SebastienBonny
Member
bkp_duke
Well-Known Member
From the one friend I had in Tesla management, this is common. Burnout is always at start-up levels for this company. My friend left for similar reasons (quality of life).
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