I am holding $237.5, $240, $242.5 and $245. It would be mind blowing if they end up OTM. I also have sold 1800 shares through last week and this week.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Holding 11/24 -c250 and the NVDA butterfly play. Tempted to write for next week, today, or event for the Friday.
EDIT: Didn't see what was happening while I wrote this, both positions are looking good, may close and reposition. Oh, the NVDA didn't go through, was looking at my paper trade notebook... darn.
EDIT: Didn't see what was happening while I wrote this, both positions are looking good, may close and reposition. Oh, the NVDA didn't go through, was looking at my paper trade notebook... darn.
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Knightshade
Well-Known Member
I closed my -C247.50s in cash account and -C245s in IRA and HSA accounts for ~2/3rds profit on the dip... though maybe too early given it seems to still be dipping (closed around 237SP)... but given how many folks still seemed to think 245-250 is in play by EOW seemed worth not worrying about em over the holiday.
Only options stuff I've got now are the follow-dl003 220/225 put spreads for 12/8 and those -C265 1/19/24s from last weeks roll-- all waiting on the 226 dip predicted sometime in the next week or two.
Only options stuff I've got now are the follow-dl003 220/225 put spreads for 12/8 and those -C265 1/19/24s from last weeks roll-- all waiting on the 226 dip predicted sometime in the next week or two.
looks like profit taking on the other guy ... soon might deserve adding some calls
How soon, I wonder?
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Or perhaps it's just expected Holiday doldrums on the way down to @dl003 's $226?
I keep thinking why btc the 24Nov$250’s when the ~$300 gained on expiry would pay for a posh day at Pinehurst?
Edit: Ha ha, checked prices after above post, and succumbed to Knightshade’s attitude — btc at $0.18 or $72 to clear the deck in that account.
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Well well…the $3K discounts came just in time and the stock is down to 236 already from 243 at the open.
Knightshade
Well-Known Member
Tesla just began doing inventory discounts again, on at least 3/Y, in the US which the usual suspects on the bird app say suggest continuing weak demand and margins... plus the FSD lawsuit story overnight, adds up to a dip.
I’ll buy back these -cc245 weekly calls today when they get to. .30 (90% gain). I think they’ll probably expire worthless, but don’t need the headache.
going to need to donate an EXTRA thanksgiving Turkey to shelter.
AND: done
I had a revelation. I am wanting to sell Jan 2025 CCs on all my shares for income for the next year. But there is always the risk that they go ITM and I have to roll them to 2026, which means no income the following year. I found the solution.
Instead of just selling the CCs at (for example) 200X SP 420 for Jan 2025 for $12.70 and making $12.70 per contract, I also do the following:
Buy to open 200X 400 Calls, and sell 200X 420 calls (make a $20 wide Bull Call spread) for about $2.00 debit.
So total trades would be BTO 200X 400, and STO 400X 420. Total credit is now $10.70.
But the beauty is that if the SP is over 420 in Jan 2025, the Bull call spread now earns $18/contract ($20 minus the $2 paid to open). That gives me income for 2025, and now I'm free to roll the 420CCs to Jan 2026 for zero credit, keeping my shares and probably easily raising the strike over 500.
I think $2 is a small price to pay for insurance to make sure I have income the following year if my CCs go ITM.
Thoughts?
Edit: I am holding off on doing this until the SP rebounds and the premiums are better for 2025.
Instead of just selling the CCs at (for example) 200X SP 420 for Jan 2025 for $12.70 and making $12.70 per contract, I also do the following:
Buy to open 200X 400 Calls, and sell 200X 420 calls (make a $20 wide Bull Call spread) for about $2.00 debit.
So total trades would be BTO 200X 400, and STO 400X 420. Total credit is now $10.70.
But the beauty is that if the SP is over 420 in Jan 2025, the Bull call spread now earns $18/contract ($20 minus the $2 paid to open). That gives me income for 2025, and now I'm free to roll the 420CCs to Jan 2026 for zero credit, keeping my shares and probably easily raising the strike over 500.
I think $2 is a small price to pay for insurance to make sure I have income the following year if my CCs go ITM.
Thoughts?
Edit: I am holding off on doing this until the SP rebounds and the premiums are better for 2025.
Nick-m
Daily driver
You’re right. Our emotions and overthinking seek confirmation since the market can under- and overshoot targets.
Like this gremlin: Can we have mini waves inside the bigger ones, like possibly testing $245 again in the next few days or $226 from here a given?
Made some extra cash following this call. Closed my 12/8 +p220s for a quick 42% profit.
I don’t know which is why I ask ;- )
So $226 is still in play l take it.
I didn’t cut longs at break of $238 but I BTC a bunch of short calls for gains.
For those of us still holding some longs, too late to cut?
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