Well, it’s most likely not idle cash but a money market or short term bond treasury market account. It’s totally liquid and accessible (although I don’t know if 100% LEVERAGIBLE… check with whatever broker you have because they DON’T just move your cash into a higher yielding account. THEY make that money and then give you .15 until you ask.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Sold today 3,000 TSLA shares @$225 (bought at $298 as buy/write 
). Will wait for bottoming out before re-buying. The -$10 down days just keep coming. Plus macros showing weakness too.
From a TA perspective, market is well below 50-day, etc. and can see more downside, not to mention TSLA below many MAs.
I should have had the discipline to cut at $286, $272, $240, etc. at least, but it is what it is. I just don’t want to sit on them and watch TSLA fade down day after day to the $200’s or -GASP- lower.
Maybe it’s a noob mistake and I’ll regret it, we’ll see.
Still holding 3,000 shares with $358 CB.
Yes, against all odds TSLA could start racing here and I could hop back in higher than $225 and cost some slippage, but what are the chances?
). Will wait for bottoming out before re-buying. The -$10 down days just keep coming. Plus macros showing weakness too.From a TA perspective, market is well below 50-day, etc. and can see more downside, not to mention TSLA below many MAs.
I should have had the discipline to cut at $286, $272, $240, etc. at least, but it is what it is. I just don’t want to sit on them and watch TSLA fade down day after day to the $200’s or -GASP- lower.
Maybe it’s a noob mistake and I’ll regret it, we’ll see.
Still holding 3,000 shares with $358 CB.
Yes, against all odds TSLA could start racing here and I could hop back in higher than $225 and cost some slippage, but what are the chances?
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To all fellow HODLERs
Do not despair
I thank everyone who post here and many technical analysts and EW proponents
Call me superstitious, ( which I tend to think I am not ) but the one chart that really been working for past 3 yrs is when I go on vacation
Tesla usually starts the run on Day 1 of my vacation and continues for a few days after the vacation ends
This has worked 100% of the times since January 2020
The magnitude of the spike depends on whether the vacation is with buddies or family( vacation with buddies tends to start a gamma squeeze) and vacationing with family a modest spike
October 2021- started spiking while on flight to Vegas enroute to Zion and gamma squeeze gave us ATH
May 2023-started spiking from 160 while on flight to Reykjavik and squeeze ended at 300
Guess what - vacation starts Monday - expecting a modest spike this time as it’s vacation with family .
Good times and tidings next week
We bounce
Not a trading advice
And I am the least superstitious and believe myself to be a very logical person of science
Do not despair
I thank everyone who post here and many technical analysts and EW proponents
Call me superstitious, ( which I tend to think I am not ) but the one chart that really been working for past 3 yrs is when I go on vacation
Tesla usually starts the run on Day 1 of my vacation and continues for a few days after the vacation ends
This has worked 100% of the times since January 2020
The magnitude of the spike depends on whether the vacation is with buddies or family( vacation with buddies tends to start a gamma squeeze) and vacationing with family a modest spike
October 2021- started spiking while on flight to Vegas enroute to Zion and gamma squeeze gave us ATH
May 2023-started spiking from 160 while on flight to Reykjavik and squeeze ended at 300
Guess what - vacation starts Monday - expecting a modest spike this time as it’s vacation with family .
Good times and tidings next week
We bounce
Not a trading advice
And I am the least superstitious and believe myself to be a very logical person of science
You could always add a GTC buy at $225 or less (if funds remain liquid) to avoid mis-timing. How to manage a bunch of fluctuation about $225 is another matter.Sold today 3,000 TSLA shares @$225 (bought at $298 as buy/write
From a TA perspective, market is well below 50-day, etc. and can see more downside, not to mention TSLA below many MAs.
I should have had the discipline to cut at $286, $272, $240, etc. at least, but it is what it is. I just don’t want to sit on them and watch TSLA fade down day after day to the $200’s or -GASP- lower.
Maybe it’s a noob mistake and I’ll regret it, we’ll see.
Still holding 3,000 shares with $358 CB.
Yes, against all odds TSLA could start racing here and I could hop back in higher than $225 and cost some slippage, but what are the chances?
Just a question..why wouldn’t you have sold the HIGHEST priced lots first? Thereby creating the biggest booked loss? Are you hoping to hold that for some reason to have a lower profit when/if we get above $358 again? You can always carry the booked loss forever till it’s used up?Sold today 3,000 TSLA shares @$225 (bought at $298 as buy/write
From a TA perspective, market is well below 50-day, etc. and can see more downside, not to mention TSLA below many MAs.
I should have had the discipline to cut at $286, $272, $240, etc. at least, but it is what it is. I just don’t want to sit on them and watch TSLA fade down day after day to the $200’s or -GASP- lower.
Maybe it’s a noob mistake and I’ll regret it, we’ll see.
Still holding 3,000 shares with $358 CB.
Yes, against all odds TSLA could start racing here and I could hop back in higher than $225 and cost some slippage, but what are the chances?
That’s the plan! Since I have short calls against them out in 12/2025 (-C$500), the higher my CB is when/if it sells the less I’ll be taxed.
With this week’s plunge (sigh), have finally managed CCs back to OTM at a net cost of $900 and recovery of unrealized capital gains of $60k; most of this done today at market open:
- btc 25Aug$270 at $0.22 (97%)
- btc 15Sep$300 at $0.28 (95%, GTC pending)
- btc 15Dec$220 at $30.20
- sto 15Mar’24$240 at $30.00
- holding for another month or so 17Nov$240 — 50% gain so far
- % of shares covered down to 50%, target is 33%
- net slightly positive CC income since 7/1 following a good 1st half
- fully expect to have to further manage those $240’s, but more easily
llirk
Member
Etrade Premium Savings is paying 4.25%. Better than couch cushions for all that dry powder we have.
SpeedyEddy
Active Member
My Bad, forgot to turn off Log scale before checking. Trend still intact.
on conviction, besides LEAPs I never BTO because there always is premium working against me. Risks are much higher I agree. But I am a fool that trades on convictions. And now it works great. @Max Plaid , you must be out of trouble too, isn’t it with your -C215. Maybe you better close before close. I will close all ATM/ITM -C, including C3.AI and NVDA, earned enough on them. Tomorrow we will see
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Tastyworks pays zilch for idle cash. They don't want to enable anything other than trading. Their bond prices underwhelm as well although it's said to be mostly related to their clearing house - they offer yields well below even secondary markets. TW bond buyers beware.Etrade Premium Savings is paying 4.25%. Better than couch cushions for all that dry powder we have.
SpeedyEddy
Active Member
Not that I have strong belief in analysts, but here is something that looks a bit like my reasoning:
quote
Benzinga ·
2023/08/17 15:25 GMT+02:00
Tesla, Inc (NASDAQ:TSLA) was struggling to trade flat on Thursday after dropping to a new 10-week low earlier in the trading session amid rising concerns that the Federal Reserve’s battle with inflation will continue with further rate hikes.
The EV giant has been trading in a downtrend since July 20, the day the stock suffered a bearish reaction to its quarterly earnings print. A downtrend occurs when a stock consistently makes a series of lower lows and lower highs on the chart.
The lower lows indicate the bears are in control while the intermittent lower highs indicate consolidation periods.
Traders can use moving averages to help identify a downtrend with descending lower timeframe moving averages (such as the eight-day or 21-day exponential moving averages) indicating the stock is in a steep shorter-term downtrend.
Descending longer-term moving averages (such as the 200-day simple moving average) indicate a long-term downtrend.
If Tesla, and other stocks that are heavily weighted within the S&P 500 continue to drop lower, volatility in the stock market is likely to increase. Tr
The Tesla Chart: Tesla’s downtrend has been taking place under a descending trend line, which has been acting as heavy resistance. The descending trend line is likely to continue to guide Tesla lower but an eventual break up from the pattern could signal a longer-term rebound.
(200.51 being the 50% FIB retracement from 101.8 to 299.2)
quote
Benzinga ·
2023/08/17 15:25 GMT+02:00
Tesla, Inc (NASDAQ:TSLA) was struggling to trade flat on Thursday after dropping to a new 10-week low earlier in the trading session amid rising concerns that the Federal Reserve’s battle with inflation will continue with further rate hikes.
The EV giant has been trading in a downtrend since July 20, the day the stock suffered a bearish reaction to its quarterly earnings print. A downtrend occurs when a stock consistently makes a series of lower lows and lower highs on the chart.
The lower lows indicate the bears are in control while the intermittent lower highs indicate consolidation periods.
Traders can use moving averages to help identify a downtrend with descending lower timeframe moving averages (such as the eight-day or 21-day exponential moving averages) indicating the stock is in a steep shorter-term downtrend.
Descending longer-term moving averages (such as the 200-day simple moving average) indicate a long-term downtrend.
If Tesla, and other stocks that are heavily weighted within the S&P 500 continue to drop lower, volatility in the stock market is likely to increase. Tr
The Tesla Chart: Tesla’s downtrend has been taking place under a descending trend line, which has been acting as heavy resistance. The descending trend line is likely to continue to guide Tesla lower but an eventual break up from the pattern could signal a longer-term rebound.
- On Thursday, Tesla was working to form a hammer candlestick on the daily chart, which could indicate a bounce is on the horizon for Friday. If that happens, bullish traders want to see big bullish volume drive Tesla over the trend line, while bearish traders want to see the trend line continue to act as resistance.
- Tesla’s most recent lower high within the downtrend was formed on Aug. 10 at $251.80 and the most recent confirmed lower low was printed at the $242.76 level on Aug. 7. If Tesla bounces on Friday, Thursday’s low-of-day will serve as the next lower low within the downtrend.
- Tesla is trading under the eight-day and 21-day exponential moving averages (EMAs), with the eight-day EMA trending under the 21-day, which is bearish. The stock is also trading under the 50-day simple moving average. If Tesla continues to fall lower, the 200-day SMA is likely to act as support at least temporarily.
- Tesla has resistance above at $225.03 and at $234.35 and support below at $213.13 and at $200.51.
(200.51 being the 50% FIB retracement from 101.8 to 299.2)
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SebastienBonny
Member
Didn’t think my 225CC got a chance anymore and look where we are now.
Too bad it’s still about 9 and 9/15 expiry.
Maybe I’ll roll it to the end of the month for some credit.
Keeping the strike as it’s a bit above cost base.
380CC for january 25 is something to think about.
Maybe I’ll roll it a bit back in and lower.
Too bad it’s still about 9 and 9/15 expiry.
Maybe I’ll roll it to the end of the month for some credit.
Keeping the strike as it’s a bit above cost base.
380CC for january 25 is something to think about.
Maybe I’ll roll it a bit back in and lower.
SpeedyEddy
Active Member
and here it comes.... 217 already in sight, but maybe again we bump around a dollar above (as we did bounce off 299 instead of 300),
closing last short-term options. Tomorrow could be wild.
Bought LEAP C 250 dec '25 against 2x -P 180 dec'25
closing last short-term options. Tomorrow could be wild.
Bought LEAP C 250 dec '25 against 2x -P 180 dec'25
SpeedyEddy
Active Member
I think @UltradoomY has the right idea. I’m selling ATM calls until they make me roll them. 10x 220c for tomorrow and 10x 230c for next week.
Don’t want to relive 2022 and be wishing I had sold calls all the way down. I was much more comfortable having DITM covered calls on the way up than I am having no covered calls going down.
My biggest regret now is letting 225c exercise last month and then selling puts at 260-270 that are now DITM. Should have just been patient and sat on them.
Don’t want to relive 2022 and be wishing I had sold calls all the way down. I was much more comfortable having DITM covered calls on the way up than I am having no covered calls going down.
My biggest regret now is letting 225c exercise last month and then selling puts at 260-270 that are now DITM. Should have just been patient and sat on them.
Twitter news: 9 cybertrucks just delivered to Fremont. I don't understand this price action at all. But my Jan 350CC are getting cheaper and cheaper for me to close, so I'll keep making money on the way down by sitting on my hands....
SpeedyEddy
Active Member
Bought shares @ $216.60 afterhours, you never can tell what is the bottom, but this is cheap for sure.
Indeed, I made the same mistake last year, kept selling puts thinking the drop would stop, eventually got early assigned, like many of us...
Seems the 115x -c215's I sold today might not have been low enough, I suppose as I have the premiums in the bag I can always roll them down if I want, I think a good strategy there would be to move them ATM once they go OTM, keep rolling them for the Theta
And my remaining 55x Sep 2024 -c200's are shedding $10 per day recently
Now the trick is to identify when the reversal comes and get out of sort calls just before... answers on a postcard to the usual address...
CT/Highland news must surely be coming "soon", of course we all assume it will be god for the stock, but what if Highland ends up being a nothing-burger, or the CT is priced way too high, or crappy specs... how will Q3 P&D turn out? Deliveries are looking good in Europe and China so far, and I suspect there's a lot of cars going to Canadian, Turkey, Taiwan, Malaysia, Australia, etc., given that Tesla warned on Q3, anything higher than Q2 ought to be a huge positive. Then the tantalising prospect of Energy making a big splash...
So much that could turn things around, but when?
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