Wiki Selling TSLA Options - Be the House

[intelligator]

Not much happened on the OI front yesterday, possibly due to traders awaiting earnings outcomes? p200, p210, c220 added a few thousand, 217.5 has a nice overlap.

I opened a -c230/+250 position yesterday, will watch what happens today, close it if we make a strong move down and reset. After seeing the position materialize, I realized it's close to the money. Careful out there.

 

[Jim Holder]

QTA ranges for today

 

[BornToFly]

Strong open shot down hard by a terrible macro. Nasdaq currently down 1.44%. TSLA could end up down 3-4% if we follow our normal beta at the end of the day.

 

[BornToFly]

Strong open shot down hard by a terrible macro. Nasdaq currently down 1.44%. TSLA could end up down 3-4% if we follow our normal beta at the end of the day.

You're welcome....

(I am not finding any TSLA news to explain the divergence. Maybe my contrarian super powers are back?)

 

[thenewguy1979]

My rich brother was buying the dips like Elon always said. He just ran out of money now. Let see where SP really go now

seem like a consolidation for 1 power move....careful

 

[Patrick66]

I feel like when TSLA is in or approaching the 220-225 range right now it is at a balance. Negatively biased news doesn't push it lower, "optimism" doesn't push it higher. That is kind of what I expected before earnings (although I might have hoped for something else).

Are we in for a boring couple months before people decide if TSLA is doomed or set to dominate? I don't see any likely options sales for my very conservative strategy coming soon, but it will be interesting to watch.

 

[Max Plaid]

Damn, my options quotes on WeBull are frozen... OtionStrat still running by the looks of it though

Looking too free-roll my 100x -p225 to 100x -p220 next week

Edit: OK option pricing started up and was able to roll down for +$1.2 (+$3.6 profit on this week's trade), which is a pretty decent result I would say!

Still 120x +p not used, 20x of those are Dec 2025 +p270's, so I can use this for more aggressive writes - straddle with some calls as I don't mind to sell the +p270's if it were to head south

Will see - still 60x -c200's in play, will look for a dip to close those for cost and rewrite a bit higher

 

[BornToFly]

I have iron condor for Friday +165/-185 -250/+270.
Macros might be saving the call side.
Would love to know if this is an options induced squeeze or "someone knows something"? If NASDAQ had been up 1% today TSLA could have been up 5%.
1-2 day old news is the expansion in Berlin and Gen 2 car going full steam ahead in Texas before Mexico. Elon's cautionary comments during the call were definitely misinterpreted by many.

 

[thenewguy1979]

Confess now guy. Who in here with deep pocket buying the dip this morning!? Max Plaid

….really dont see any Tesla news driving this. Macro aint hot either, pretty bad actually..

perhaps still at the tail end of wave 4 and people are just buying the dips. We should know more based on how we end the day.

 

[thenewguy1979]

Market is bad as it can be today. Tesla SP is trying to bounce green. DI0003 can you please share your though on what's going on based on TA and insight?

Was trying to roll the ball on some tech earning but see how Google Sputter and MSFT only gained 2.4% after beating earnings put a more cautionary warning to stay on the sideline for now. Crazy day Macro wise. We still have Powell Speech and Meta later today....

 

[dl003]

Market is bad as it can be today. Tesla SP is trying to bounce green. DI0003 can you please share your though on what's going on based on TA and insight?

Was trying to roll the ball on some tech earning but see how Google Sputter and MSFT only gained 2.4% after beating earnings put a more cautionary warning to stay on the sideline for now. Crazy day Macro wise. We still have Powell Speech and Meta later today....

Do you still need me? )

Long story short: if bulls want to push this higher, it has to be NOW (213). If not, watch out below. I'm in for 7x 230/232.5C 11/03 & 1x -300C 1/2024 per set. Also holding tons of 210P/207.P exp this week.

 

[dl003]

This is the last shakeout in SPY before Santa rally.

 

[thenewguy1979]

Do you still need me? )

Long story short: if bulls want to push this higher, it has to be NOW (213). If not, watch out below. I'm in for 7x 230/232.5C & 1x -300C 1/2024 per set. Also holding tons of 210P/207.P exp this week.

Of course we do

Thanks for confirmation.

Yes on SPY for long term play toward end of year. Thanks again DI0003

 

[Nocturnal]

This is the last shakeout in SPY before Santa rally.

I have a decent sized call spread on SPX, Dec 15 4250/4300 for that reason.

I'm a little gun shy on going in on Tesla calls just yet. Today's bounce on 212.94 looked pretty good to my amateur eyes though.

 

[dl003]

If TSLA can reach 217.5, don't put it anymore.

 

[Jim Holder]

If TSLA can reach 217.5, don't put it anymore.

Nice! At $213.20 area I sold my 30x +P165 11/24 at around b/e since it held and didn't crack. I'll buy them again if we crack $209.

What cadence are you seeing next for TSLA?

I have done several successful round-trips of -C230 11/4 -- STO this week at market attempts at $220 and BTC at fades to $214-215. Enjoyed scalping good gains from the pirates ; - )

Currently holding new starter batch of:
10x -C230 11/4 @ $2.00
10x -C232.50 11/4 @ $1.60

Planning to scale in as SP improves (I especially like selling them when TSLA races around market open + high IV and then BTC when it fades rest of day; can also ride to expiration if we don't get a fade).

 

[dl003]

Nice! At $213.20 area I sold my 30x +P165 11/24 at around b/e since it held and didn't crack. I'll buy them again if we crack $209.

What cadence are you seeing next for TSLA?

I have done several successful round-trips of -C230 11/4 -- STO this week at market attempts at $220 and BTC at fades to $214-215. Enjoyed scalping good gains from the pirates ; - )

Currently holding new starter batch of:
10x -C230 11/4 @ $2.00
10x -C232.50 11/4 @ $1.60

Planning to scale in as SP improves (I especially like selling them when TSLA races around market open + high IV and then BTC when it fades rest of day; can also ride to expiration if we don't get a fade).

Default scenario is still new low below 200 this week, maybe early next week.

 

[mickificki]

Default scenario is still new low below 200 this week, maybe early next week.

Are you thinking santa rally starting mid-Nov? Thanks for the info.

 

[Jim Holder]

Default scenario is still new low below 200 this week, maybe early next week.

Yikes. I misread what you wrote just before. I thought you said if reaches $217.50 not to short it anymore.
Maybe I should have held the +P165 11/24 puts after-all. Is that what you're saying?

 

[dl003]

Are you thinking santa rally starting mid-Nov? Thanks for the info.

No. Should start soon. Early November after FOMC maybe.