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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
SpeedyEddy
Active Member
Did you pee these lines doggy?
thenewguy1979
"The" Dog
Trying to keep AAPL under 182.5 with those pee lines.....not strong enough......errr we'll see by end of day.
Good Lord. Am I going to be right again?!?Short sellers are so weak! We are going to close above 220 again. My 230CC just won't die.
Seems to be a new thing as of late, dump TSLA at open, then it
SPY and QQQ are due a lower-low, not really happening, but normally should before going back up
Barring macro pull-back, I also think TSLA melts-up into CT event, am thinking -230 straddles for next week to position for that
All my junk is time-decaying nicely right nowDidn't you check the post from Yesterday from big dog, Max Plaid? He holding up the market
Guess they ran out of steam.....But seem like Macro is not too bad hence keep SP up.
SPY and QQQ are due a lower-low, not really happening, but normally should before going back up
Barring macro pull-back, I also think TSLA melts-up into CT event, am thinking -230 straddles for next week to position for that
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thenewguy1979
"The" Dog
Tesla and the markets traded flat today. Guess that good for option sellers, unless your ITM?
Ahh -- good question!
One of my trading rules is that I don't open a replacement position the same day that I close a winning position. It's a bit broader than that, but the idea is that a good day and time for closing a trade, also tends to be a relatively bad day for opening a new trade.
So in my made up example, if I were to take the good and early close on Tuesday, then the soonest I would open the replacement trade is Wednesday. What I'm really looking for is a favorable move for the open on the new position - even a bit of one. It's not TA by any stretch - its just my own attempt to sell calls at relatively high share prices, btc those calls at relatively low share prices (similar idea on the put side).
I actually will open a replacement position the same day, but I need a significant move in my favor. That's really what I'm looking for with these rules, and close-today-open-tomorrow is a simplification.
To make up an example - if I wake up tomorrow and we're at 210, then I'll take that great close opportunity for my 230cc, and plan to wait at least a day to open new cc for the next week. If the shares then trade back to 220 during the day, then I'm likely to open the replacement position that same day anyway. What I really wanted, and got, was a significant move in the right direction for a relatively good open ("relatively" good can still be actually bad
).-- the 197.50 put. Yes, I would take the .08 early close, and be looking for a new position tomorrow, fully realizing that the shares might go the wrong way and I don't have a put open for a few days (or even weeks!). Usually its just a few days out of the market.
A significant component of this approach is that I'm generating income, but I also don't need to always be in the market to generate adequate income. The freedom to be out of the market, sometimes for a few weeks at a time, is something I find immensely valuable.
Polestar has lowered their guidance due to "low EV demand." TSLA down a little AH because stupid people don't realize Tesla is not Polestar....
My CCs thank the stupid people.
My CCs thank the stupid people.
Crazy to think this, -c230 for Friday (safe) seems a go. Just saying... we've been sideways through Wednesday, not much on the horizon we don't already know about, what could crush this thought?
From a gamma standpoint, c225 stands taller than ever, p220 is stacking as well. I'll put this out again in the morning to see where we sit. I'm not looking for support, just your perspective.
From a gamma standpoint, c225 stands taller than ever, p220 is stacking as well. I'll put this out again in the morning to see where we sit. I'm not looking for support, just your perspective.
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Subtle change at c220 through c227.5, c222.5 the largest move, added 8k to now 20k. Put call ratio came down to .86 from .89, 36K new positions, max-pain remains at 217.5 ... gamma not much different than what was posted last night.
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Same opening push-down we've seen all week... BTC 20x -c200 @$1.45 for around 70% profits
Not feeling inclined to close out this -c230's though - especially with $500 broker fees on those
Maybe the China price increases weren't enough, plus we had a BS $145PT initiated from HSBC...?
Edit 1: OK, I gave in, BTC 200x -c230 @12c, around 90% profit with the charges taken into account. Reason to close them out is purely to free-up the contracts for writing next week in the case of a reversal from here (OTM premiums above c230 drop dramatically from Friday to Monday, so...)
Edit 2: STC 100x March 2024 +p240 @$16.1 -> a modest +$3.7 profit on these, but I fear the SP going up and them going worthless fast, still have 100x that I'm writing against
Not feeling inclined to close out this -c230's though - especially with $500 broker fees on those
Maybe the China price increases weren't enough, plus we had a BS $145PT initiated from HSBC...?
Edit 1: OK, I gave in, BTC 200x -c230 @12c, around 90% profit with the charges taken into account. Reason to close them out is purely to free-up the contracts for writing next week in the case of a reversal from here (OTM premiums above c230 drop dramatically from Friday to Monday, so...)
Edit 2: STC 100x March 2024 +p240 @$16.1 -> a modest +$3.7 profit on these, but I fear the SP going up and them going worthless fast, still have 100x that I'm writing against
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SpeedyEddy
Active Member
still sidelined partially, waiting for 212 and if straight through 205 to be back in -P200 and + C 220 2026 plus rebuy shares. Hard to NOT act too early.... wait wait, you can do it Eddy.....
SpeedyEddy
Active Member
D
Did not happen ...... so I got back in -of course still profitable- around 214.10 and 215.10, thinking this (213.33) was the local bottom ... As always a dollar and a bit above the projected low?) Not back into any 2026 options though, might wait for those a bit longer and as @Max Plaid pointed out maybe go for some 6 months away ones that indeed seem a bit more interesting (never looked at those before, only very close or very far away, but 6 months out is kind of a sweet spot.)
thenewguy1979
"The" Dog
I offload all my AAPL Puts this morning. Wave 5 is invalidated for now. Waiting for DI0003 to updates if it still a play then can get back in at cheaper price. AAPL too hot. Burned a lots of my furs last few days.....
Waiting for Tesla SP to reach 210 before going long.....
Waiting for Tesla SP to reach 210 before going long.....
EVNow
Well-Known Member
Worth noting that the HSBC idiot chose a PT very close to the $143 gap, I wonder if this was just a signal to the bear and shorty to jump in?
I have to say with Q4 deliveries looking great, M3H getting rave reviews, some price increases this quarter and CT event coming up, not sure it's the time to short $TSLA
But what the hell do I know...?
I have to say with Q4 deliveries looking great, M3H getting rave reviews, some price increases this quarter and CT event coming up, not sure it's the time to short $TSLA
But what the hell do I know...?
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