I have noticed that recent run ups for Tesla events will sometimes die the day before. We are up more AH, but I would not be surprised to see a red day tomorrow, or Thursday morning. On the Daily Trader's charts, for Friday TSLA has a strong resistance around 250 and a bigger one around 267 (which is the ceiling of a TWO YEAR LONG downward channel). So I don't expect 267 to be broken by Friday close. The two year resistance line is coming down, so next week it gets broken at 260. If that happens, I think we may be going up for the rest of the year (general trend - some rest days/small pullbacks possible). I'm now regretting my 252.5CC on the buy-writes. I will wait until Friday to decide if I let those shares go and sell Puts, or roll them up and out.
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
If there's a pop tomorrow, I'm adding more.
thenewguy1979
"The" Dog
Yes, if we do sink tommorow let hold hand and sing kumbaya. Honor knowing you fine gentlemen….we had funs going into this as Jim mentioned.
Tommorow will be the day. Sleep well and hang tight for a wild day. Ship has not sunk yet.
It's a great film!It’s FOUR dimensional chess.
which is THREE dimensional chess, but with TIME as an additional influencing vector.
Which is how you seem to play with options, jumping in and out of wormholes, grabbing MM money and then jumping back into the wormhole.
I’m going to start calling you Bandit! TIME BANDIT that is. ;-)
TLDR: shameless generation plug. I mean LOOK at this cast! You had me at Sean Connery, THEN John Cleese THEN Michael Palin, the list goes on and on. Time Bandits (1981)6.9 | Adventure, Comedy, Fantasy
Fun price action, will be interesting to see if it continues.
On one hand I have 35x -c230 and 100x -c250 in play for this week - the -c250's looking to roll to -c260's for next, the -c230's I'll knock-off over time, no sweat
Countering that I have loads of upside exposure with Jan +c300's, March +c280's, Dec 2025 +c200, etc., so all is good
SpeedyEddy
Active Member
Yeah the 12/15 NVDA puts are still in place over here as well.We got the bounce going up to CT. Now is whether we continue to bounce or dump from here…..
Doggy sense telling me there a probability of another day of bounce or flatness before we see a drop. But never know.
Got 2 boatload of puts going into 12/8, including NVDA put for 12/15 still holding.
Going be either dry dog food or filet this weekend
@Max Plaid There were a lot of posts here yesterday, in case you missed it, can you take a look at this about positioning for a run:
teslamotorsclub.com
Wiki - Selling TSLA Options - Be the House
Did you sell the short side of your 220/225 12/8 BPS (and is that something one does)? No I did not sell the short side. That's something I consider doing if my condition for going long is met. Tomorrow it is.
teslamotorsclub.com
Yeah, I saw it earlier, but was scratching my head on the rationale behind it - initially I thought it was very risky to the downside, but now I model it, it's quite interesting, but obviously ties-up capital for the put side of things@Max Plaid There were a lot of posts here yesterday, in case you missed it, can you take a look at this about positioning for a run:
Wiki - Selling TSLA Options - Be the House
Did you sell the short side of your 220/225 12/8 BPS (and is that something one does)? No I did not sell the short side. That's something I consider doing if my condition for going long is met. Tomorrow it is.
It’s meant just for the ride up, and exit as soon as it gets to a congestion zone and show signs of retreat.
OK, but what if it doesn't "ride up" and dumps... in that respect it's a "bet the farm" type of position, the short puts you can roll forever, but the bought calls, worst case, can get destroyed. OK the calls have been bought "for free" with the puts, I get that part of it, but I would also sell short calls against the long calls to hedge things
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I've put in a STO 100x 12/8-c260 @$4.20 for the opening pop/IV spike, needs $251.50ish to trigger
For this week's 100x -c250's, looking to roll two weeks out to -c270, which is the SP point where I'm looking to offload some LEAPS anyway...
Postions underwritten by Jan +c300's and March +c280's
Edit: STO 100x -c260 @$4.20
For this week's 100x -c250's, looking to roll two weeks out to -c270, which is the SP point where I'm looking to offload some LEAPS anyway...
Postions underwritten by Jan +c300's and March +c280's
Edit: STO 100x -c260 @$4.20
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I think to survive, we need to not "Bet the farm" on a belief of what will happen. Buying a Put spread and selling CCs is betting the farm, because both require the SP to do one thing - go down. Since there really is not way to know, we can't guess ahead of time on only one direction, and our trades should make money on both directions if possible.
EVNow
Well-Known Member
No such thing - it's not like today is ER. Not even CT delivery....
SpeedyEddy
Active Member
Nice wick on top of the hourly building. dropping to closing price or below within the hour (may it be after a new top) would make the opening ralley look bearish after all (shooting star !!)
[Edit] plus 23.6 fib incoming @ 253.00 ((often traded zone already entered) [/Edit]
[Edit] plus 23.6 fib incoming @ 253.00 ((often traded zone already entered) [/Edit]
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