Wiki Selling TSLA Options - Be the House

[Cherry Wine]

Cary update:

Summary Holding below $255.75 TSLA can fall to $222.01. A close over $255.75 maintains $309.29 within sight in a few weeks. Overall $309.29 remains target over the next couple months if TSLA remains below $255.75 and 2-3 weeks if closes above $255.75.

More detail If TSLA opens or breaks below $242.63 on Tuesday then $232.29 is within reach same day.

A close below $232.29 today brings $222.01 pretty quickly, where a low can be put in and TSLA can head up from there.

An open or push above $249.01 should test $255.75 intra-day and without a close over $255.75 can fall back toward $221.01 in the next week or so.

If TSLA pushes through $255.75, that’s a buy signal/stay long/close shorts, and can bring $266.46 same day—though with some troubles— $280.93 by end of week, and $309.29 in 2-3 weeks.

His updates are free and come daily around 5-6pm EST on weekdays and Sunday late afternoon for Monday’s trading. They run about 10 minutes. Consider subscribing!

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Looking at these levels right now like

 

[SpeedyEddy]

Of course it won’t happen but if we jump another 21% this week, the invested $150 could turn into half a model Y (Dutch price) on Friday. Just need to sit tightly on my hands meanwhile (which would be the most difficult part, once we would cross 300…)

 

[SpeedyEddy]

The amount of times I've heard that one.

However, if the spring rips I'll happily sell more calls and a put next week. Current max pain on next week's monthly/quarterly expiration is $230.

You will probably be right with these kind of counterweights, but it is nice to dream that I will only pay 50% on a car to be delivered Friday 09/15 (model Y LR MCR/ white from Berlin)

 

[dl003]

in for 245/242.5P exp 9/8 for $0.36 each. It's creeping up in a rising wedge pattern, in what looks like an attempt to retest the upward channel it just broke down from. It has to close over 260 2 days in a row for 242 to be the bottom. If not, I'll still be expecting 242 to be revisited and possibly breached this week.

 

[Cherry Wine]

in for 245/242.5P exp 9/8 for $0.36 each. It's creeping up in a rising wedge pattern, in what looks like an attempt to retest the upward channel it just broke down from. It has to close over 260 2 days in a row for 242 to be the bottom. If not, I'll still be expecting 242 to be revisited and possibly breached this week.
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I just opened 20x 9/8 +250P/-245P at $1.20 each.

 

[Jim Holder]

in for 245/242.5P exp 9/8 for $0.36 each. It's creeping up in a rising wedge pattern, in what looks like an attempt to retest the upward channel it just broke down from. It has to close over 260 2 days in a row for 242 to be the bottom. If not, I'll still be expecting 242 to be revisited and possibly breached this week.
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I have 30x 9/8 -C260 @1.09 opened last Friday, wondering if to roll to 9/22 -C270 for $2.00 credit now, counting on a dip in between to BTC or let it run out, or is that too close to the sun.

What would be a good roll for it or just hold for now to see close today and tomorrow?

 

[dl003]

I have 30x 9/8 -C260 @1.09 opened last Friday, wondering if to roll to 9/22 -C270 for $2.00 credit now, counting on a dip in between to BTC or let it run out, or that's too close to the sun. What would be a good roll for it or just hold for now to see close today and tomorrow?

uh... what happened to you being happy to let these calls exercised at 260? I say if you have a plan, stick to it. If it closes over 260 for 2 days, then get the cash back and start selling puts.

 

[Jim Holder]

uh... what happened to you being happy to let these calls exercised at 260? I say if you have a plan, stick to it. If it closes over 260 for 2 days, then get the cash back and start selling puts.

True, happy if market closes around $260 Friday, not if it closes $10 away like @ $270 or higher ;- )
Do you see any chance of that happening?

 

[dl003]

True, happy if market closes around $260 Friday, not if it closes $10 away like @ $270 or higher ;- )
Do you see any chance of that happening?

Sure. If TSLA increases prices by $500 in the AH or Elon says I'm back to full-time CEO-ing TSLA now etc... who know? I'm only trying to calculate the risk : reward at every level & only trade when it's in my favor. At 261 you didn't sell although it was specifically mentioned that it's a strong resistance. Then you sold calls at low 24x after being told 242 may provide a DCB on Tuesday. Now that the stock is approaching a strong resistance again, you're feeling the urge to cut your losses and run. It might break 260 and hold for 2 days or it might not, but cutting your CCs here is not a good R:R play.

 

[Jim Holder]

Sure. If TSLA increases prices by $500 in the AH or Elon says I'm back to full-time CEO-ing TSLA now etc... who know? I'm only trying to calculate the risk : reward at every level & only trade when it's in my favor. At 261 you didn't sell although it was specifically mentioned that it's a strong resistance. Then you sold calls at low 24x after being told 242 may provide a DCB on Tuesday. Now that the stock is approaching a strong resistance again, you're feeling the urge to cut your losses and run. It might break 260 and hold for 2 days or it might not, but cutting your CCs here is not a good R:R play.

All true! I'm learning each day and hopefully get better with making better R:R choices with time.

So plan/lesson here is wait for 2 days closing over $260, which can be Wednesday and Thursday if not today and if at all. If it does so then looking at a roll may make sense, otherwise just stick it out.

Thanks again.

 

[dl003]

If it can close over 258.08 today, I'd say roll your CCs. If not, I'd hold.

 

[Jim Holder]

If it can close over 258.08 today, I'd say roll your CCs. If not, I'd hold.

Thanks. 9/22 -C270?

Huge sell block waiting @258-259

 

[juanmedina]

I sold a few $275 for Friday at $0.52

 

[tivoboy]

Look at you ppl… we get a 12-14$ drop last two days last week and now a 12-14$ pop off that low and you’re running for the hills… where’s your trading conviction? I’m still way more than happy to sell some CC for Oct 265$ if we get over 20$.

 

[tivoboy]

Thanks. 9/22 -C270?

Huge sell block waiting @258-259

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Could you take the resolution down to maybe 140x232, I can’t download that image on my Commodore 64 with a 2400 baud modem. ;-0

 

[Jim Holder]

Could you take the resolution down to maybe 140x232, I can’t download that image on my Commodore 64 with a 2400 baud modem. ;-0

Here’s a link to the channel, a new live TSLA Bookmap feed is posted each day:

https://youtube.com/@Bookmaptrader

 

[Max Plaid]

Europe has already surpassed 2022 sales with 4 months to go. China also having a record quarter. I am expecting the SP to be higher than today at the end of the month (but the SP doesn't always make sense...).

https://twitter.com/x/status/1699065353199100199

Nice to see the media using TMC's own deliveries page...

 

[CHGolferJim]

Made these rolls at open today which was good timing (SP ~$245):

1. 15Sep’23$240 —> 15Dec’23$300 (+1 contract)……expect to expire, assign ok if ~ATM
2. 20Oct’23$240 —> 19Apr’24$300 ($1k credit on #1+#2)….…can assign per harvesting strategy
3. 15Mar’24$240 —> 20Sep’24$300 (+5 contracts, $8k credit)……HODL, harvest 20% at $350

To protect shares and unrealized gains, mostly likely 2023 income is done unless I start doing sh*tcalls.

Confirming the benefit of rolling up and out when SP is lower, the $9k credit achieved at 9:30-9:33 this AM (SP $245) would have been a $3k debit at today’s close (SP $256). Shorter-term CC (to btc) are more volatile than longer-term (sto).

But man, if only I’d delayed the sto by 2 hours, whew…….

 

[Max Plaid]

OK, so I closed out the 10x -p240's and 10x -p250's I wrote on Friday for decent gains, realise I could have left them, but why take the risk?

Also set a limit sell on 30x Dec 2025 +c140's for $146.1, which is 100% profits plus 0.1 pays for the broker fees for the initial buy and the sell, needed $255.50 to trigger, which didn't look very likely when I placed the order, but it did, which is great - so a step to my strategy that I mentioned over the long weekend

Also set a $263 sell on the 1000 $TSLA I'm looking to offload, maybe tomorrow

Still in play this week 10x -c250, 10x -c260, 10x -p260 - will look to get out of the -260 straddle, then see about the -c250's, wouldn't be surprised to get an opportunity to close them before Friday

It's exactly this kind of situation I want to move away from, ITM puts and calls...

 

[OrthoSurg]

Cary update:

Summary Holding below $255.75 TSLA can fall to $222.01. A close over $255.75 maintains $309.29 within sight in a few weeks. Overall $309.29 remains target over the next couple months if TSLA remains below $255.75 and 2-3 weeks if closes above $255.75.

More detail If TSLA opens or breaks below $242.63 on Tuesday then $232.29 is within reach same day.

A close below $232.29 today brings $222.01 pretty quickly, where a low can be put in and TSLA can head up from there.

An open or push above $249.01 should test $255.75 intra-day and without a close over $255.75 can fall back toward $221.01 in the next week or so.

If TSLA pushes through $255.75, that’s a buy signal/stay long/close shorts, and can bring $266.46 same day—though with some troubles— $280.93 by end of week, and $309.29 in 2-3 weeks.

His updates are free and come daily around 5-6pm EST on weekdays and Sunday late afternoon for Monday’s trading. They run about 10 minutes. Consider subscribing!

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Close the shooooooortsss