Wiki Selling TSLA Options - Be the House

[dl003]

Just afraid of that pump and dump DI0003 was talking about - 240 then 140 drop..... maybe that changed?

Remember: I never said we will dump to 140. I only said it's a possibility in the event of a hard reject at 240.
With that in mind:

a. 194 was the bottom
b. We're running up in a clear 5 wave impulsive fashion
c. I believe we just hit the highest range possible for this first leg
d. There will be a second leg after a few days of consolidation. Maybe target the 210 gap test
e. Please don't ask me how I'm positioned for this coming week

 

[Jim Holder]

Remember: I never said we will dump to 140. I only said it's a possibility in the event of a hard reject at 240.
With that in mind:

a. 194 was the bottom
b. We're running up in a clear 5 wave impulsive fashion
c. I believe we just hit the highest range possible for this first leg
d. There will be a second leg after a few days of consolidation. Maybe target the 210 gap test
e. Please don't ask me how I'm positioned for this coming week

Can you share your updated chart?

 

[BornToFly]

@Max Plaid I like your overall plan, but $1 or 0.5 per week is not easy. I was doing 0.2 CC for the first part of the year, and then got steam rolled in June and had to go to Jan 2024 with my CC. Two days ago I sold CC for 0.24 and 0.4 for next Friday. They are both in danger now (-235 and -230C). Only my 0.1 appears safe....

 

[dl003]

Can you share your updated chart?

 

[elasalle]

I'm in calls for santa rally @$260s and bought some puts for Feb @$160. This "good news" is that the economy is weakening. Don't listen to me though. I was overly bullish in 2022 and it stung me bad. Trying not to be overly bearish now but...

Don't forget China weekly numbers - full house (both M & Y) from next week(tue) onwards
and Mr M ready to take adv of the CT FOMO as well ...

 

[tivoboy]

View attachment 987548

Ok, now you’re just making things up….are you making these now with your non dominant hand? ;-)

 

[Max Plaid]

@Max Plaid I like your overall plan, but $1 or 0.5 per week is not easy. I was doing 0.2 CC for the first part of the year, and then got steam rolled in June and had to go to Jan 2024 with my CC. Two days ago I sold CC for 0.24 and 0.4 for next Friday. They are both in danger now (-235 and -230C). Only my 0.1 appears safe....

May to June was one of those absolute rippers, which come every now and again. Obviously if writing against calls then you can just let the long side sell as well, but you wouldn't want to do that with shares

I believe @Yoona and some others did back-tests on this and it's something like 22% OTM is historically safe

Do you remember which week you got screwed, the strike, the write date, the premium etc. Would be interesting to look at that

 

[Jim Holder]

View attachment 987548

Thanks. Looks like puts for next week below 226.

 

[dl003]

Ok, now you’re just making things up….are you making these now with your non dominant hand? ;-)

hey get out of my OnlyFan

 

[Max Plaid]

If anyone's got insomnia over the possibility of a drop to 140 then March p150's are $3.50

Not advice, but it's a small price to pay for sleeping well at night

 

[OrthoSurg]

At $225 I sold the 200 shares I bought for $195 earlier this week.

I am waiting for $240 to close my 10x LEAPS I bought last week, what was your rational to close them today. You expect a dump soon?

 

[BornToFly]

May to June was one of those absolute rippers, which come every now and again. Obviously if writing against calls then you can just let the long side sell as well, but you wouldn't want to do that with shares

I believe @Yoona and some others did back-tests on this and it's something like 22% OTM is historically safe

Do you remember which week you got screwed, the strike, the write date, the premium etc. Would be interesting to look at that

I don't remember the week. I do agree that 22% OTM is historically safe. But that is usually less than 0.2 on the premiums. Sometimes not even 0.1 when the SP has been going down for a while and is actually most likely to violently reverse....

 

[ninpb]

View attachment 987548

Can you please help me to understand a few things about the study of these wave patterns?
a. This is the Elliot Wave theory 5-3?
b. What is the shortest time intervals you do this on? 15min? Specific to TSLA?
c. Do you ignore pre/after hours points?
d. In this specific chart, first 5 wave trend down goes straight into another 5 wave trend up. Doesn't look like there was a period of consolidation in between.

 

[Right_Said_Fred]

I am waiting for $240 to close my 10x LEAPS I bought last week, what was your rational to close them today. You expect a dump soon?

I'm not expecting a dump or a rise: I'm bad at predicting stock movements. So I simply try to buy low and sell high.

I'd like to say that I'm a bright investor for buying near the low of the week and selling near the high of the week, but in reality it's a combination of luck and a bit of instinct.

These are my trading shares. In September I sold 750 shares at $276, after buying them earlier in the year for an average price of $215. I was flat from that moment on and planned to start accumulating again below $200. The 200 shares at $195 were the first buy. If the stock had continued down I would have bought a few hundred more after every $15-$20 drop. It never came to that.

If the stock then runs up $30 in just a few days, I already get some vertigo. And if I can then grab a quick $6k I'm not going to waste that opportunity. They are trading shares after all.

 

[dl003]

Can you please help me to understand a few things about the study of these wave patterns?
a. This is the Elliot Wave theory 5-3?
b. What is the shortest time intervals you do this on? 15min? Specific to TSLA?
c. Do you ignore pre/after hours points?
d. In this specific chart, first 5 wave trend down goes straight into another 5 wave trend up. Doesn't look like there was a period of consolidation in between.

a. Yes
b. I do it on all timeframe but prefer 15m and up
c. Ignore PM and AH
d. That's not the 1st 5 wave down. 1st was 279-234

 

[thenewguy1979]

a. Yes
b. I do it on all timeframe but prefer 15m and up
c. Ignore PM and AH
d. That's not the 1st 5 wave down. 1st was 279-234

Thanks DI003. Tiny dog brain see it quite clear now.

Did you offload those boatload AAPL puts yet or still holding them? SP seem pretty resilient all morning.

 

[dl003]

Thanks DI003. Tiny dog brain see it quite clear now.

Did you offload those boatload AAPL puts yet or still holding them? SP seem pretty resilient all morning.

I took profit on them early in the morning. Not much but looks like MM doesn't wanna pay anybody today.

However I loaded 11/10 and 11/17 AAPL puts. I'm quite confident in it.

 

[thenewguy1979]

I took profit on them early in the morning. Not much but looks like MM doesn't wanna pay anybody today.

However I loaded 11/10 and 11/17 AAPL puts. I'm quite confident in it.

Can you please share the strike price? I was aiming at +170/-165

 

[dl003]

Can you please share the strike price? I was aiming at +170/-165

I bought those as well.

 

[Max Plaid]

You've got to be kidding me! Limit STO for 50x -p220 @$6.1, high price $6.09 - ever feel you're being f****d with?